vs
Side-by-side financial comparison of ECARX Holdings Inc. (ECX) and HUTCHMED (China) Ltd (HCM). Click either name above to swap in a different company.
ECARX Holdings Inc. is the larger business by last-quarter revenue ($323.3M vs $270.8M, roughly 1.2× HUTCHMED (China) Ltd). HUTCHMED (China) Ltd runs the higher net margin — 0.7% vs -21.4%, a 22.1% gap on every dollar of revenue. On growth, ECARX Holdings Inc. posted the faster year-over-year revenue change (6.5% vs -16.5%). HUTCHMED (China) Ltd produced more free cash flow last quarter ($3.4M vs $-86.5M).
ECARX Holdings Inc. is a global mobility technology provider specializing in integrated smart vehicle solutions, including in-vehicle infotainment systems, advanced driver assistance technologies, and connected car cloud services. It primarily partners with automotive manufacturers across the world, with a strong operational presence in the Chinese and European markets.
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.
ECX vs HCM — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $323.3M | $270.8M |
| Net Profit | $-69.1M | $2.0M |
| Gross Margin | 15.5% | 37.7% |
| Operating Margin | -20.2% | -13.2% |
| Net Margin | -21.4% | 0.7% |
| Revenue YoY | 6.5% | -16.5% |
| Net Profit YoY | 12.8% | -83.6% |
| EPS (diluted) | $-0.20 | $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 | — | $270.8M | ||
| Q2 25 | $323.3M | $277.7M | ||
| Q1 25 | — | $324.5M | ||
| Q2 24 | $303.5M | $305.7M | ||
| Q2 23 | — | $532.9M | ||
| Q2 22 | — | $202.0M |
| Q4 25 | — | $2.0M | ||
| Q2 25 | $-69.1M | $455.0M | ||
| Q1 25 | — | $11.9M | ||
| Q2 24 | $-79.2M | $25.8M | ||
| Q2 23 | — | $168.6M | ||
| Q2 22 | — | $-162.9M |
| Q4 25 | — | 37.7% | ||
| Q2 25 | 15.5% | 0.1% | ||
| Q1 25 | — | 48.0% | ||
| Q2 24 | 22.6% | 41.1% | ||
| Q2 23 | — | 0.0% | ||
| Q2 22 | — | 0.1% |
| Q4 25 | — | -13.2% | ||
| Q2 25 | -20.2% | -1.3% | ||
| Q1 25 | — | -5.0% | ||
| Q2 24 | -22.2% | -9.0% | ||
| Q2 23 | — | 21.0% | ||
| Q2 22 | — | -97.4% |
| Q4 25 | — | 0.7% | ||
| Q2 25 | -21.4% | 163.8% | ||
| Q1 25 | — | 3.7% | ||
| Q2 24 | -26.1% | 8.4% | ||
| Q2 23 | — | 31.6% | ||
| Q2 22 | — | -80.6% |
| Q4 25 | — | $0.00 | ||
| Q2 25 | $-0.20 | $0.52 | ||
| Q1 25 | — | $0.01 | ||
| Q2 24 | $-0.23 | $0.03 | ||
| Q2 23 | — | $0.19 | ||
| Q2 22 | — | $-0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $86.2M | $1.4B |
| Total DebtLower is stronger | — | $93.2M |
| Stockholders' EquityBook value | $-293.7M | $1.2B |
| Total Assets | $494.9M | $1.8B |
| Debt / EquityLower = less leverage | — | 0.08× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.4B | ||
| Q2 25 | $86.2M | $1.4B | ||
| Q1 25 | — | $836.1M | ||
| Q2 24 | $108.4M | $802.5M | ||
| Q2 23 | — | $856.2M | ||
| Q2 22 | — | $826.2M |
| Q4 25 | — | $93.2M | ||
| Q2 25 | — | $93.4M | ||
| Q1 25 | — | $82.8M | ||
| Q2 24 | — | $82.1M | ||
| Q2 23 | — | $40.1M | ||
| Q2 22 | — | $418.0K |
| Q4 25 | — | $1.2B | ||
| Q2 25 | $-293.7M | $1.2B | ||
| Q1 25 | — | $759.9M | ||
| Q2 24 | $-198.5M | $740.1M | ||
| Q2 23 | — | $782.0M | ||
| Q2 22 | — | $799.7M |
| Q4 25 | — | $1.8B | ||
| Q2 25 | $494.9M | $1.8B | ||
| Q1 25 | — | $1.3B | ||
| Q2 24 | $555.0M | $1.3B | ||
| Q2 23 | — | $1.3B | ||
| Q2 22 | — | $1.2B |
| Q4 25 | — | 0.08× | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.11× | ||
| Q2 24 | — | 0.11× | ||
| Q2 23 | — | 0.05× | ||
| Q2 22 | — | 0.00× |
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 | $-82.0M | $8.2M |
| Free Cash FlowOCF − Capex | $-86.5M | $3.4M |
| FCF MarginFCF / Revenue | -26.7% | 1.2% |
| Capex IntensityCapex / Revenue | 1.4% | 1.8% |
| Cash ConversionOCF / Net Profit | — | 4.21× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-96.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $8.2M | ||
| Q2 25 | $-82.0M | $-72.9M | ||
| Q1 25 | — | $40.3M | ||
| Q2 24 | $-57.1M | $-39.8M | ||
| Q2 23 | — | $226.4M | ||
| Q2 22 | — | $-89.9M |
| Q4 25 | — | $3.4M | ||
| Q2 25 | $-86.5M | $-82.2M | ||
| Q1 25 | — | $32.5M | ||
| Q2 24 | $-64.9M | $-49.9M | ||
| Q2 23 | — | $202.0M | ||
| Q2 22 | — | $-105.6M |
| Q4 25 | — | 1.2% | ||
| Q2 25 | -26.7% | -29.6% | ||
| Q1 25 | — | 10.0% | ||
| Q2 24 | -21.4% | -16.3% | ||
| Q2 23 | — | 37.9% | ||
| Q2 22 | — | -52.3% |
| Q4 25 | — | 1.8% | ||
| Q2 25 | 1.4% | 3.3% | ||
| Q1 25 | — | 2.4% | ||
| Q2 24 | 2.6% | 3.3% | ||
| Q2 23 | — | 4.6% | ||
| Q2 22 | — | 7.8% |
| Q4 25 | — | 4.21× | ||
| Q2 25 | — | -0.16× | ||
| Q1 25 | — | 3.38× | ||
| Q2 24 | — | -1.54× | ||
| Q2 23 | — | 1.34× | ||
| Q2 22 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
