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Side-by-side financial comparison of HUTCHMED (China) Ltd (HCM) and Merchants Bancorp (MBIN). Click either name above to swap in a different company.
HUTCHMED (China) Ltd is the larger business by last-quarter revenue ($270.8M vs $175.2M, roughly 1.5× Merchants Bancorp). Merchants Bancorp runs the higher net margin — 38.6% vs 0.7%, a 37.9% gap on every dollar of revenue.
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.
Ameris Bancorp is an American bank holding company headquartered in Atlanta, Georgia. Through its bank subsidiary, Ameris Bank, the company operates full-service branches in Georgia, Alabama, Florida, North Carolina and South Carolina, and mortgage-only locations in Georgia, Alabama, Florida, North Carolina, South Carolina, Virginia, Maryland, and Tennessee. The company offers online and mobile banking options for both consumers and businesses.
HCM vs MBIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $270.8M | $175.2M |
| Net Profit | $2.0M | $67.7M |
| Gross Margin | 37.7% | — |
| Operating Margin | -13.2% | — |
| Net Margin | 0.7% | 38.6% |
| Revenue YoY | -16.5% | — |
| Net Profit YoY | -83.6% | 16.3% |
| EPS (diluted) | $0.00 | $1.25 |
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.
| Q1 26 | — | $175.2M | ||
| Q4 25 | $270.8M | $185.3M | ||
| Q3 25 | — | $171.1M | ||
| Q2 25 | $277.7M | $179.2M | ||
| Q1 25 | $324.5M | $145.9M | ||
| Q4 24 | — | $193.8M | ||
| Q3 24 | — | $149.6M | ||
| Q2 24 | $305.7M | $159.5M |
| Q1 26 | — | $67.7M | ||
| Q4 25 | $2.0M | — | ||
| Q3 25 | — | $54.7M | ||
| Q2 25 | $455.0M | $38.0M | ||
| Q1 25 | $11.9M | $58.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $61.3M | ||
| Q2 24 | $25.8M | $76.4M |
| Q1 26 | — | — | ||
| Q4 25 | 37.7% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 48.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 41.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | -13.2% | 39.9% | ||
| Q3 25 | — | 37.8% | ||
| Q2 25 | -1.3% | 27.3% | ||
| Q1 25 | -5.0% | 52.4% | ||
| Q4 24 | — | 66.0% | ||
| Q3 24 | — | 54.4% | ||
| Q2 24 | -9.0% | 62.2% |
| Q1 26 | — | 38.6% | ||
| Q4 25 | 0.7% | — | ||
| Q3 25 | — | 32.0% | ||
| Q2 25 | 163.8% | 21.2% | ||
| Q1 25 | 3.7% | 39.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 41.0% | ||
| Q2 24 | 8.4% | 47.9% |
| Q1 26 | — | $1.25 | ||
| Q4 25 | $0.00 | $1.28 | ||
| Q3 25 | — | $0.97 | ||
| Q2 25 | $0.52 | $0.60 | ||
| Q1 25 | $0.01 | $0.93 | ||
| Q4 24 | — | $1.84 | ||
| Q3 24 | — | $1.17 | ||
| Q2 24 | $0.03 | $1.49 |
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 | $83.2M |
| Total DebtLower is stronger | $93.2M | $32.0M |
| Stockholders' EquityBook value | $1.2B | $2.3B |
| Total Assets | $1.8B | $20.3B |
| Debt / EquityLower = less leverage | 0.08× | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $83.2M | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $836.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $802.5M | — |
| Q1 26 | — | $32.0M | ||
| Q4 25 | $93.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $93.4M | — | ||
| Q1 25 | $82.8M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $82.1M | — |
| Q1 26 | — | $2.3B | ||
| Q4 25 | $1.2B | $2.3B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | $1.2B | $2.2B | ||
| Q1 25 | $759.9M | $2.2B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | $740.1M | $1.9B |
| Q1 26 | — | $20.3B | ||
| Q4 25 | $1.8B | $19.4B | ||
| Q3 25 | — | $19.4B | ||
| Q2 25 | $1.8B | $19.1B | ||
| Q1 25 | $1.3B | $18.8B | ||
| Q4 24 | — | $18.8B | ||
| Q3 24 | — | $18.7B | ||
| Q2 24 | $1.3B | $18.2B |
| Q1 26 | — | 0.01× | ||
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 0.11× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.11× | — |
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 | — |
| Free Cash FlowOCF − Capex | $3.4M | — |
| FCF MarginFCF / Revenue | 1.2% | — |
| Capex IntensityCapex / Revenue | 1.8% | — |
| Cash ConversionOCF / Net Profit | 4.21× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-96.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $8.2M | $-341.2M | ||
| Q3 25 | — | $29.8M | ||
| Q2 25 | $-72.9M | $-121.2M | ||
| Q1 25 | $40.3M | $148.0M | ||
| Q4 24 | — | $-835.3M | ||
| Q3 24 | — | $-492.6M | ||
| Q2 24 | $-39.8M | $51.1M |
| Q1 26 | — | — | ||
| Q4 25 | $3.4M | $-362.2M | ||
| Q3 25 | — | $24.0M | ||
| Q2 25 | $-82.2M | $-125.7M | ||
| Q1 25 | $32.5M | $141.2M | ||
| Q4 24 | — | $-853.7M | ||
| Q3 24 | — | $-497.2M | ||
| Q2 24 | $-49.9M | $45.8M |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | -195.5% | ||
| Q3 25 | — | 14.0% | ||
| Q2 25 | -29.6% | -70.1% | ||
| Q1 25 | 10.0% | 96.8% | ||
| Q4 24 | — | -440.6% | ||
| Q3 24 | — | -332.4% | ||
| Q2 24 | -16.3% | 28.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.8% | 11.3% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | 3.3% | 2.5% | ||
| Q1 25 | 2.4% | 4.7% | ||
| Q4 24 | — | 9.5% | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | 3.3% | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | 4.21× | — | ||
| Q3 25 | — | 0.54× | ||
| Q2 25 | -0.16× | -3.19× | ||
| Q1 25 | 3.38× | 2.54× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -8.04× | ||
| Q2 24 | -1.54× | 0.67× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCM
Segment breakdown not available.
MBIN
| Net Interest Income | $128.6M | 73% |
| Noninterest Income | $46.6M | 27% |
