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Side-by-side financial comparison of HUTCHMED (China) Ltd (HCM) and ONTO INNOVATION INC. (ONTO). Click either name above to swap in a different company.
HUTCHMED (China) Ltd is the larger business by last-quarter revenue ($270.8M vs $218.2M, roughly 1.2× ONTO INNOVATION INC.). ONTO INNOVATION INC. runs the higher net margin — 12.9% vs 0.7%, a 12.2% gap on every dollar of revenue. On growth, ONTO INNOVATION INC. posted the faster year-over-year revenue change (-13.5% vs -16.5%). ONTO INNOVATION INC. produced more free cash flow last quarter ($82.0M 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.
Onto Innovation Inc. is an American semiconductor company formed in 2019 from the merger of Rudolph Technologies, Inc. and Nanometrics Incorporated. It is a provider of process and process control equipment and software for microelectronic manufacturing industries.
HCM vs ONTO — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $270.8M | $218.2M |
| Net Profit | $2.0M | $28.2M |
| Gross Margin | 37.7% | 50.7% |
| Operating Margin | -13.2% | 10.9% |
| Net Margin | 0.7% | 12.9% |
| Revenue YoY | -16.5% | -13.5% |
| Net Profit YoY | -83.6% | -46.8% |
| EPS (diluted) | $0.00 | $0.57 |
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 | — | ||
| Q3 25 | — | $218.2M | ||
| Q2 25 | $277.7M | $253.6M | ||
| Q1 25 | $324.5M | $266.6M | ||
| Q4 24 | — | $263.9M | ||
| Q3 24 | — | $252.2M | ||
| Q2 24 | $305.7M | $242.3M | ||
| Q1 24 | — | $228.8M |
| Q4 25 | $2.0M | — | ||
| Q3 25 | — | $28.2M | ||
| Q2 25 | $455.0M | $33.9M | ||
| Q1 25 | $11.9M | $64.1M | ||
| Q4 24 | — | $48.8M | ||
| Q3 24 | — | $53.1M | ||
| Q2 24 | $25.8M | $52.9M | ||
| Q1 24 | — | $46.9M |
| Q4 25 | 37.7% | — | ||
| Q3 25 | — | 50.7% | ||
| Q2 25 | 0.1% | 48.2% | ||
| Q1 25 | 48.0% | 53.7% | ||
| Q4 24 | — | 50.2% | ||
| Q3 24 | — | 54.1% | ||
| Q2 24 | 41.1% | 52.9% | ||
| Q1 24 | — | 51.7% |
| Q4 25 | -13.2% | — | ||
| Q3 25 | — | 10.9% | ||
| Q2 25 | -1.3% | 12.7% | ||
| Q1 25 | -5.0% | 23.7% | ||
| Q4 24 | — | 16.1% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | -9.0% | 20.2% | ||
| Q1 24 | — | 18.7% |
| Q4 25 | 0.7% | — | ||
| Q3 25 | — | 12.9% | ||
| Q2 25 | 163.8% | 13.4% | ||
| Q1 25 | 3.7% | 24.0% | ||
| Q4 24 | — | 18.5% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | 8.4% | 21.9% | ||
| Q1 24 | — | 20.5% |
| Q4 25 | $0.00 | — | ||
| Q3 25 | — | $0.57 | ||
| Q2 25 | $0.52 | $0.69 | ||
| Q1 25 | $0.01 | $1.30 | ||
| Q4 24 | — | $0.98 | ||
| Q3 24 | — | $1.07 | ||
| Q2 24 | $0.03 | $1.07 | ||
| Q1 24 | — | $0.94 |
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 | $603.1M |
| Total DebtLower is stronger | $93.2M | — |
| Stockholders' EquityBook value | $1.2B | $2.0B |
| Total Assets | $1.8B | $2.2B |
| Debt / EquityLower = less leverage | 0.08× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.4B | — | ||
| Q3 25 | — | $603.1M | ||
| Q2 25 | $1.4B | $217.5M | ||
| Q1 25 | $836.1M | $203.7M | ||
| Q4 24 | — | $212.9M | ||
| Q3 24 | — | $188.7M | ||
| Q2 24 | $802.5M | $172.6M | ||
| Q1 24 | — | $190.9M |
| 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 | — | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | $1.2B | $2.0B | ||
| Q1 25 | $759.9M | $1.9B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | $740.1M | $1.8B | ||
| Q1 24 | — | $1.8B |
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | $1.8B | $2.1B | ||
| Q1 25 | $1.3B | $2.1B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | $1.3B | $2.0B | ||
| Q1 24 | — | $2.0B |
| 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 | $83.4M |
| Free Cash FlowOCF − Capex | $3.4M | $82.0M |
| FCF MarginFCF / Revenue | 1.2% | 37.6% |
| Capex IntensityCapex / Revenue | 1.8% | 0.6% |
| Cash ConversionOCF / Net Profit | 4.21× | 2.95× |
| TTM Free Cash FlowTrailing 4 quarters | $-96.2M | $261.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | — | ||
| Q3 25 | — | $83.4M | ||
| Q2 25 | $-72.9M | $57.9M | ||
| Q1 25 | $40.3M | $92.0M | ||
| Q4 24 | — | $56.0M | ||
| Q3 24 | — | $67.2M | ||
| Q2 24 | $-39.8M | $65.3M | ||
| Q1 24 | — | $57.1M |
| Q4 25 | $3.4M | — | ||
| Q3 25 | — | $82.0M | ||
| Q2 25 | $-82.2M | $44.2M | ||
| Q1 25 | $32.5M | $83.7M | ||
| Q4 24 | — | $51.4M | ||
| Q3 24 | — | $59.2M | ||
| Q2 24 | $-49.9M | $53.0M | ||
| Q1 24 | — | $50.2M |
| Q4 25 | 1.2% | — | ||
| Q3 25 | — | 37.6% | ||
| Q2 25 | -29.6% | 17.4% | ||
| Q1 25 | 10.0% | 31.4% | ||
| Q4 24 | — | 19.5% | ||
| Q3 24 | — | 23.5% | ||
| Q2 24 | -16.3% | 21.9% | ||
| Q1 24 | — | 21.9% |
| Q4 25 | 1.8% | — | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | 3.3% | 5.4% | ||
| Q1 25 | 2.4% | 3.1% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | 3.3% | 5.1% | ||
| Q1 24 | — | 3.0% |
| Q4 25 | 4.21× | — | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | -0.16× | 1.71× | ||
| Q1 25 | 3.38× | 1.44× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | — | 1.27× | ||
| Q2 24 | -1.54× | 1.23× | ||
| Q1 24 | — | 1.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCM
Segment breakdown not available.
ONTO
| Systems And Software Revenue | $173.8M | 80% |
| Parts Revenue | $23.9M | 11% |
| Service Revenue | $20.5M | 9% |
