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Side-by-side financial comparison of Doximity, Inc. (DOCS) and HUTCHMED (China) Ltd (HCM). Click either name above to swap in a different company.
HUTCHMED (China) Ltd is the larger business by last-quarter revenue ($270.8M vs $185.1M, roughly 1.5× Doximity, Inc.). Doximity, Inc. runs the higher net margin — 33.3% vs 0.7%, a 32.5% gap on every dollar of revenue. On growth, Doximity, Inc. posted the faster year-over-year revenue change (9.8% vs -16.5%).
Doximity is an online networking service for medical professionals. Launched in 2010, the platform offers its members curated medical news, telehealth tools, and case collaboration.
HUTCHMED (China) LtdHCMEarnings & Financial Report
HUTCHMED (China) Ltd is a biopharmaceutical firm focused on discovering, developing and commercializing targeted and immunotherapies for oncology and immunological diseases. It operates across China and global markets, with multiple marketed oncology drugs and a robust pipeline of late-stage clinical candidates addressing unmet patient needs.
DOCS vs HCM — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $185.1M | $270.8M |
| Net Profit | $61.6M | $2.0M |
| Gross Margin | 89.9% | 37.7% |
| Operating Margin | 38.9% | -13.2% |
| Net Margin | 33.3% | 0.7% |
| Revenue YoY | 9.8% | -16.5% |
| Net Profit YoY | -18.1% | -83.6% |
| EPS (diluted) | $0.31 | $0.00 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $185.1M | $270.8M | ||
| Q3 25 | $168.5M | — | ||
| Q2 25 | $145.9M | $277.7M | ||
| Q1 25 | $138.3M | $324.5M | ||
| Q4 24 | $168.6M | — | ||
| Q3 24 | $136.8M | — | ||
| Q2 24 | $126.7M | $305.7M | ||
| Q1 24 | $118.1M | — |
| Q4 25 | $61.6M | $2.0M | ||
| Q3 25 | $62.1M | — | ||
| Q2 25 | $53.3M | $455.0M | ||
| Q1 25 | $62.5M | $11.9M | ||
| Q4 24 | $75.2M | — | ||
| Q3 24 | $44.2M | — | ||
| Q2 24 | $41.4M | $25.8M | ||
| Q1 24 | $40.6M | — |
| Q4 25 | 89.9% | 37.7% | ||
| Q3 25 | 90.3% | — | ||
| Q2 25 | 89.2% | 0.1% | ||
| Q1 25 | 89.5% | 48.0% | ||
| Q4 24 | 91.6% | — | ||
| Q3 24 | 90.0% | — | ||
| Q2 24 | 89.3% | 41.1% | ||
| Q1 24 | 89.4% | — |
| Q4 25 | 38.9% | -13.2% | ||
| Q3 25 | 37.8% | — | ||
| Q2 25 | 37.4% | -1.3% | ||
| Q1 25 | 35.2% | -5.0% | ||
| Q4 24 | 47.4% | — | ||
| Q3 24 | 38.8% | — | ||
| Q2 24 | 36.4% | -9.0% | ||
| Q1 24 | 35.5% | — |
| Q4 25 | 33.3% | 0.7% | ||
| Q3 25 | 36.8% | — | ||
| Q2 25 | 36.5% | 163.8% | ||
| Q1 25 | 45.2% | 3.7% | ||
| Q4 24 | 44.6% | — | ||
| Q3 24 | 32.3% | — | ||
| Q2 24 | 32.7% | 8.4% | ||
| Q1 24 | 34.4% | — |
| Q4 25 | $0.31 | $0.00 | ||
| Q3 25 | $0.31 | — | ||
| Q2 25 | $0.27 | $0.52 | ||
| Q1 25 | $0.31 | $0.01 | ||
| Q4 24 | $0.37 | — | ||
| Q3 24 | $0.22 | — | ||
| Q2 24 | $0.21 | $0.03 | ||
| Q1 24 | $0.20 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $64.8M | $1.4B |
| Total DebtLower is stronger | — | $93.2M |
| Stockholders' EquityBook value | $979.3M | $1.2B |
| Total Assets | $1.2B | $1.8B |
| Debt / EquityLower = less leverage | — | 0.08× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.8M | $1.4B | ||
| Q3 25 | $169.2M | — | ||
| Q2 25 | $137.3M | $1.4B | ||
| Q1 25 | $209.6M | $836.1M | ||
| Q4 24 | $165.3M | — | ||
| Q3 24 | $184.2M | — | ||
| Q2 24 | $111.4M | $802.5M | ||
| Q1 24 | $96.8M | — |
| Q4 25 | — | $93.2M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $93.4M | ||
| Q1 25 | — | $82.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $82.1M | ||
| Q1 24 | — | — |
| Q4 25 | $979.3M | $1.2B | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $1.1B | $759.9M | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $961.2M | — | ||
| Q2 24 | $913.6M | $740.1M | ||
| Q1 24 | $901.4M | — |
| Q4 25 | $1.2B | $1.8B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.2B | $1.8B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | $1.3B | ||
| Q1 24 | $1.1B | — |
| Q4 25 | — | 0.08× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.11× | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $60.9M | $8.2M |
| Free Cash FlowOCF − Capex | — | $3.4M |
| FCF MarginFCF / Revenue | — | 1.2% |
| Capex IntensityCapex / Revenue | — | 1.8% |
| Cash ConversionOCF / Net Profit | 0.99× | 4.21× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-96.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.9M | $8.2M | ||
| Q3 25 | $93.9M | — | ||
| Q2 25 | $62.1M | $-72.9M | ||
| Q1 25 | $98.5M | $40.3M | ||
| Q4 24 | $65.2M | — | ||
| Q3 24 | $68.3M | — | ||
| Q2 24 | $41.2M | $-39.8M | ||
| Q1 24 | $63.9M | — |
| Q4 25 | — | $3.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-82.2M | ||
| Q1 25 | — | $32.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-49.9M | ||
| Q1 24 | — | — |
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -29.6% | ||
| Q1 25 | — | 10.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -16.3% | ||
| Q1 24 | — | — |
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | 0.0% | 2.4% | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | 3.3% | ||
| Q1 24 | 0.0% | — |
| Q4 25 | 0.99× | 4.21× | ||
| Q3 25 | 1.51× | — | ||
| Q2 25 | 1.16× | -0.16× | ||
| Q1 25 | 1.58× | 3.38× | ||
| Q4 24 | 0.87× | — | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 1.00× | -1.54× | ||
| Q1 24 | 1.57× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DOCS
| Subscription | $175.4M | 95% |
| Service Other | $9.7M | 5% |
HCM
Segment breakdown not available.
