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Side-by-side financial comparison of HUTCHMED (China) Ltd (HCM) and INDEPENDENT BANK CORP (INDB). Click either name above to swap in a different company.
HUTCHMED (China) Ltd is the larger business by last-quarter revenue ($270.8M vs $212.5M, roughly 1.3× INDEPENDENT BANK CORP). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs 0.7%, a 34.7% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs -16.5%). INDEPENDENT BANK CORP produced more free cash flow last quarter ($75.5M vs $3.4M).
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.
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
HCM vs INDB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $270.8M | $212.5M |
| Net Profit | $2.0M | $75.3M |
| Gross Margin | 37.7% | — |
| Operating Margin | -13.2% | — |
| Net Margin | 0.7% | 35.5% |
| Revenue YoY | -16.5% | 46.9% |
| Net Profit YoY | -83.6% | 50.6% |
| EPS (diluted) | $0.00 | $1.51 |
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 | $212.5M | ||
| Q3 25 | — | $203.3M | ||
| Q2 25 | $277.7M | $147.5M | ||
| Q1 25 | $324.5M | $145.5M | ||
| Q4 24 | — | $144.7M | ||
| Q3 24 | — | $141.7M | ||
| Q2 24 | $305.7M | $137.9M | ||
| Q1 24 | — | $137.4M |
| Q4 25 | $2.0M | $75.3M | ||
| Q3 25 | — | $34.3M | ||
| Q2 25 | $455.0M | $51.1M | ||
| Q1 25 | $11.9M | $44.4M | ||
| Q4 24 | — | $50.0M | ||
| Q3 24 | — | $42.9M | ||
| Q2 24 | $25.8M | $51.3M | ||
| Q1 24 | — | $47.8M |
| Q4 25 | 37.7% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 48.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 41.1% | — | ||
| Q1 24 | — | — |
| Q4 25 | -13.2% | — | ||
| Q3 25 | — | 21.8% | ||
| Q2 25 | -1.3% | 44.6% | ||
| Q1 25 | -5.0% | 39.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 39.0% | ||
| Q2 24 | -9.0% | 48.1% | ||
| Q1 24 | — | 45.5% |
| Q4 25 | 0.7% | 35.5% | ||
| Q3 25 | — | 16.8% | ||
| Q2 25 | 163.8% | 34.6% | ||
| Q1 25 | 3.7% | 30.5% | ||
| Q4 24 | — | 34.6% | ||
| Q3 24 | — | 30.3% | ||
| Q2 24 | 8.4% | 37.2% | ||
| Q1 24 | — | 34.8% |
| Q4 25 | $0.00 | $1.51 | ||
| Q3 25 | — | $0.69 | ||
| Q2 25 | $0.52 | $1.20 | ||
| Q1 25 | $0.01 | $1.04 | ||
| Q4 24 | — | $1.18 | ||
| Q3 24 | — | $1.01 | ||
| Q2 24 | $0.03 | $1.21 | ||
| Q1 24 | — | $1.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.4B | — |
| Total DebtLower is stronger | $93.2M | — |
| Stockholders' EquityBook value | $1.2B | $3.6B |
| Total Assets | $1.8B | $24.9B |
| Debt / EquityLower = less leverage | 0.08× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $836.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $802.5M | — | ||
| Q1 24 | — | — |
| 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 | $1.2B | $3.6B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | $1.2B | $3.1B | ||
| Q1 25 | $759.9M | $3.0B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | $740.1M | $2.9B | ||
| Q1 24 | — | $2.9B |
| Q4 25 | $1.8B | $24.9B | ||
| Q3 25 | — | $25.0B | ||
| Q2 25 | $1.8B | $20.0B | ||
| Q1 25 | $1.3B | $19.9B | ||
| Q4 24 | — | $19.4B | ||
| Q3 24 | — | $19.4B | ||
| Q2 24 | $1.3B | $19.4B | ||
| Q1 24 | — | $19.3B |
| 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 | $8.2M | $78.9M |
| Free Cash FlowOCF − Capex | $3.4M | $75.5M |
| FCF MarginFCF / Revenue | 1.2% | 35.5% |
| Capex IntensityCapex / Revenue | 1.8% | 1.6% |
| Cash ConversionOCF / Net Profit | 4.21× | 1.05× |
| TTM Free Cash FlowTrailing 4 quarters | $-96.2M | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $78.9M | ||
| Q3 25 | — | $52.2M | ||
| Q2 25 | $-72.9M | $106.7M | ||
| Q1 25 | $40.3M | $13.3M | ||
| Q4 24 | — | $42.9M | ||
| Q3 24 | — | $70.2M | ||
| Q2 24 | $-39.8M | $65.6M | ||
| Q1 24 | — | $51.1M |
| Q4 25 | $3.4M | $75.5M | ||
| Q3 25 | — | $49.7M | ||
| Q2 25 | $-82.2M | $102.5M | ||
| Q1 25 | $32.5M | $11.3M | ||
| Q4 24 | — | $36.5M | ||
| Q3 24 | — | $64.4M | ||
| Q2 24 | $-49.9M | $61.9M | ||
| Q1 24 | — | $46.7M |
| Q4 25 | 1.2% | 35.5% | ||
| Q3 25 | — | 24.4% | ||
| Q2 25 | -29.6% | 69.5% | ||
| Q1 25 | 10.0% | 7.8% | ||
| Q4 24 | — | 25.2% | ||
| Q3 24 | — | 45.4% | ||
| Q2 24 | -16.3% | 44.9% | ||
| Q1 24 | — | 34.0% |
| Q4 25 | 1.8% | 1.6% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | 3.3% | 2.9% | ||
| Q1 25 | 2.4% | 1.4% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 4.1% | ||
| Q2 24 | 3.3% | 2.7% | ||
| Q1 24 | — | 3.2% |
| Q4 25 | 4.21× | 1.05× | ||
| Q3 25 | — | 1.52× | ||
| Q2 25 | -0.16× | 2.09× | ||
| Q1 25 | 3.38× | 0.30× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | 1.64× | ||
| Q2 24 | -1.54× | 1.28× | ||
| Q1 24 | — | 1.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
