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Side-by-side financial comparison of HUTCHMED (China) Ltd (HCM) and PEGASYSTEMS INC (PEGA). Click either name above to swap in a different company.
PEGASYSTEMS INC is the larger business by last-quarter revenue ($430.0M vs $270.8M, roughly 1.6× HUTCHMED (China) Ltd). PEGASYSTEMS INC runs the higher net margin — 7.6% vs 0.7%, a 6.9% gap on every dollar of revenue. On growth, PEGASYSTEMS INC posted the faster year-over-year revenue change (-9.6% vs -16.5%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M 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.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
HCM vs PEGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $270.8M | $430.0M |
| Net Profit | $2.0M | $32.8M |
| Gross Margin | 37.7% | 75.2% |
| Operating Margin | -13.2% | 8.6% |
| Net Margin | 0.7% | 7.6% |
| Revenue YoY | -16.5% | -9.6% |
| Net Profit YoY | -83.6% | -61.6% |
| EPS (diluted) | $0.00 | $0.18 |
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 | — | $430.0M | ||
| Q4 25 | $270.8M | $504.3M | ||
| Q3 25 | — | $381.4M | ||
| Q2 25 | $277.7M | $384.5M | ||
| Q1 25 | $324.5M | $475.6M | ||
| Q4 24 | — | $490.8M | ||
| Q3 24 | — | $325.1M | ||
| Q2 24 | $305.7M | $351.2M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | $2.0M | $234.6M | ||
| Q3 25 | — | $43.4M | ||
| Q2 25 | $455.0M | $30.1M | ||
| Q1 25 | $11.9M | $85.4M | ||
| Q4 24 | — | $119.1M | ||
| Q3 24 | — | $-14.4M | ||
| Q2 24 | $25.8M | $6.6M |
| Q1 26 | — | 75.2% | ||
| Q4 25 | 37.7% | 79.5% | ||
| Q3 25 | — | 72.2% | ||
| Q2 25 | 0.1% | 71.5% | ||
| Q1 25 | 48.0% | 78.5% | ||
| Q4 24 | — | 79.1% | ||
| Q3 24 | — | 70.2% | ||
| Q2 24 | 41.1% | 72.4% |
| Q1 26 | — | 8.6% | ||
| Q4 25 | -13.2% | 20.7% | ||
| Q3 25 | — | 3.8% | ||
| Q2 25 | -1.3% | 4.5% | ||
| Q1 25 | -5.0% | 26.7% | ||
| Q4 24 | — | 29.1% | ||
| Q3 24 | — | -3.6% | ||
| Q2 24 | -9.0% | 3.7% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | 0.7% | 46.5% | ||
| Q3 25 | — | 11.4% | ||
| Q2 25 | 163.8% | 7.8% | ||
| Q1 25 | 3.7% | 18.0% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | — | -4.4% | ||
| Q2 24 | 8.4% | 1.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $0.00 | $0.81 | ||
| Q3 25 | — | $0.24 | ||
| Q2 25 | $0.52 | $0.17 | ||
| Q1 25 | $0.01 | $0.91 | ||
| Q4 24 | — | $1.35 | ||
| Q3 24 | — | $-0.17 | ||
| Q2 24 | $0.03 | $0.07 |
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 | $270.0M |
| Total DebtLower is stronger | $93.2M | — |
| Stockholders' EquityBook value | $1.2B | $705.9M |
| Total Assets | $1.8B | $1.6B |
| Debt / EquityLower = less leverage | 0.08× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $270.0M | ||
| Q4 25 | $1.4B | $425.8M | ||
| Q3 25 | — | $351.4M | ||
| Q2 25 | $1.4B | $411.6M | ||
| Q1 25 | $836.1M | $371.7M | ||
| Q4 24 | — | $740.0M | ||
| Q3 24 | — | $703.0M | ||
| Q2 24 | $802.5M | $665.1M |
| Q1 26 | — | — | ||
| Q4 25 | $93.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $93.4M | — | ||
| Q1 25 | $82.8M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $82.1M | — |
| Q1 26 | — | $705.9M | ||
| Q4 25 | $1.2B | $787.4M | ||
| Q3 25 | — | $596.8M | ||
| Q2 25 | $1.2B | $624.5M | ||
| Q1 25 | $759.9M | $611.3M | ||
| Q4 24 | — | $585.5M | ||
| Q3 24 | — | $473.0M | ||
| Q2 24 | $740.1M | $435.4M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.8B | $1.6B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | $1.8B | $1.3B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | $1.3B | $1.5B |
| Q1 26 | — | — | ||
| 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 | $206.5M |
| FCF MarginFCF / Revenue | 1.2% | 48.0% |
| Capex IntensityCapex / Revenue | 1.8% | — |
| Cash ConversionOCF / Net Profit | 4.21× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-96.2M | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $8.2M | $158.4M | ||
| Q3 25 | — | $56.3M | ||
| Q2 25 | $-72.9M | $86.3M | ||
| Q1 25 | $40.3M | $204.2M | ||
| Q4 24 | — | $95.2M | ||
| Q3 24 | — | $30.5M | ||
| Q2 24 | $-39.8M | $40.1M |
| Q1 26 | — | $206.5M | ||
| Q4 25 | $3.4M | $152.4M | ||
| Q3 25 | — | $51.8M | ||
| Q2 25 | $-82.2M | $84.1M | ||
| Q1 25 | $32.5M | $202.3M | ||
| Q4 24 | — | $92.4M | ||
| Q3 24 | — | $27.4M | ||
| Q2 24 | $-49.9M | $38.8M |
| Q1 26 | — | 48.0% | ||
| Q4 25 | 1.2% | 30.2% | ||
| Q3 25 | — | 13.6% | ||
| Q2 25 | -29.6% | 21.9% | ||
| Q1 25 | 10.0% | 42.5% | ||
| Q4 24 | — | 18.8% | ||
| Q3 24 | — | 8.4% | ||
| Q2 24 | -16.3% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.8% | 1.2% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | 3.3% | 0.6% | ||
| Q1 25 | 2.4% | 0.4% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | 3.3% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 4.21× | 0.68× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | -0.16× | 2.87× | ||
| Q1 25 | 3.38× | 2.39× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.54× | 6.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCM
Segment breakdown not available.
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
