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Side-by-side financial comparison of HUTCHMED (China) Ltd (HCM) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
HUTCHMED (China) Ltd is the larger business by last-quarter revenue ($270.8M vs $148.3M, roughly 1.8× Shoals Technologies Group, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs 0.7%, a 4.8% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -16.5%). HUTCHMED (China) Ltd produced more free cash flow last quarter ($3.4M vs $-11.3M).
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.
Shoals Technologies Group is a leading provider of electrical balance of systems solutions for renewable energy and e-mobility. It supplies connectivity components for solar projects, energy storage systems and EV charging infrastructure, serving clients across North America, Europe and Asia-Pacific.
HCM vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $270.8M | $148.3M |
| Net Profit | $2.0M | $8.1M |
| Gross Margin | 37.7% | 31.6% |
| Operating Margin | -13.2% | 11.7% |
| Net Margin | 0.7% | 5.5% |
| Revenue YoY | -16.5% | 38.6% |
| Net Profit YoY | -83.6% | 3.9% |
| EPS (diluted) | $0.00 | $0.05 |
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 | $148.3M | ||
| Q3 25 | — | $135.8M | ||
| Q2 25 | $277.7M | $110.8M | ||
| Q1 25 | $324.5M | $80.4M | ||
| Q4 24 | — | $107.0M | ||
| Q3 24 | — | $102.2M | ||
| Q2 24 | $305.7M | $99.2M | ||
| Q1 24 | — | $90.8M |
| Q4 25 | $2.0M | $8.1M | ||
| Q3 25 | — | $11.9M | ||
| Q2 25 | $455.0M | $13.9M | ||
| Q1 25 | $11.9M | $-282.0K | ||
| Q4 24 | — | $7.8M | ||
| Q3 24 | — | $-267.0K | ||
| Q2 24 | $25.8M | $11.8M | ||
| Q1 24 | — | $4.8M |
| Q4 25 | 37.7% | 31.6% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | 0.1% | 37.2% | ||
| Q1 25 | 48.0% | 35.0% | ||
| Q4 24 | — | 37.6% | ||
| Q3 24 | — | 24.8% | ||
| Q2 24 | 41.1% | 40.3% | ||
| Q1 24 | — | 40.2% |
| Q4 25 | -13.2% | 11.7% | ||
| Q3 25 | — | 13.7% | ||
| Q2 25 | -1.3% | 14.4% | ||
| Q1 25 | -5.0% | 5.4% | ||
| Q4 24 | — | 15.4% | ||
| Q3 24 | — | 4.4% | ||
| Q2 24 | -9.0% | 18.7% | ||
| Q1 24 | — | 12.8% |
| Q4 25 | 0.7% | 5.5% | ||
| Q3 25 | — | 8.7% | ||
| Q2 25 | 163.8% | 12.5% | ||
| Q1 25 | 3.7% | -0.4% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | -0.3% | ||
| Q2 24 | 8.4% | 11.9% | ||
| Q1 24 | — | 5.3% |
| Q4 25 | $0.00 | $0.05 | ||
| Q3 25 | — | $0.07 | ||
| Q2 25 | $0.52 | $0.08 | ||
| Q1 25 | $0.01 | $0.00 | ||
| Q4 24 | — | $0.04 | ||
| Q3 24 | — | $0.00 | ||
| Q2 24 | $0.03 | $0.07 | ||
| Q1 24 | — | $0.03 |
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 | $7.3M |
| Total DebtLower is stronger | $93.2M | — |
| Stockholders' EquityBook value | $1.2B | $600.0M |
| Total Assets | $1.8B | $904.1M |
| Debt / EquityLower = less leverage | 0.08× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.4B | $7.3M | ||
| Q3 25 | — | $8.6M | ||
| Q2 25 | $1.4B | $4.7M | ||
| Q1 25 | $836.1M | $35.6M | ||
| Q4 24 | — | $23.5M | ||
| Q3 24 | — | $11.1M | ||
| Q2 24 | $802.5M | $3.2M | ||
| Q1 24 | — | $15.2M |
| Q4 25 | $93.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $93.4M | — | ||
| Q1 25 | $82.8M | $141.8M | ||
| Q4 24 | — | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | $82.1M | $146.8M | ||
| Q1 24 | — | $168.8M |
| Q4 25 | $1.2B | $600.0M | ||
| Q3 25 | — | $589.6M | ||
| Q2 25 | $1.2B | $575.4M | ||
| Q1 25 | $759.9M | $558.9M | ||
| Q4 24 | — | $556.8M | ||
| Q3 24 | — | $545.2M | ||
| Q2 24 | $740.1M | $544.6M | ||
| Q1 24 | — | $554.0M |
| Q4 25 | $1.8B | $904.1M | ||
| Q3 25 | — | $851.8M | ||
| Q2 25 | $1.8B | $795.0M | ||
| Q1 25 | $1.3B | $788.4M | ||
| Q4 24 | — | $793.1M | ||
| Q3 24 | — | $801.3M | ||
| Q2 24 | $1.3B | $788.4M | ||
| Q1 24 | — | $825.3M |
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 0.11× | 0.25× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | 0.11× | 0.27× | ||
| Q1 24 | — | 0.30× |
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 | $-4.1M |
| Free Cash FlowOCF − Capex | $3.4M | $-11.3M |
| FCF MarginFCF / Revenue | 1.2% | -7.6% |
| Capex IntensityCapex / Revenue | 1.8% | 4.8% |
| Cash ConversionOCF / Net Profit | 4.21× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $-96.2M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $-4.1M | ||
| Q3 25 | — | $19.4M | ||
| Q2 25 | $-72.9M | $-13.8M | ||
| Q1 25 | $40.3M | $15.6M | ||
| Q4 24 | — | $14.0M | ||
| Q3 24 | — | $15.7M | ||
| Q2 24 | $-39.8M | $37.8M | ||
| Q1 24 | — | $12.9M |
| Q4 25 | $3.4M | $-11.3M | ||
| Q3 25 | — | $9.0M | ||
| Q2 25 | $-82.2M | $-26.0M | ||
| Q1 25 | $32.5M | $12.3M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | — | $13.3M | ||
| Q2 24 | $-49.9M | $35.8M | ||
| Q1 24 | — | $10.4M |
| Q4 25 | 1.2% | -7.6% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | -29.6% | -23.5% | ||
| Q1 25 | 10.0% | 15.4% | ||
| Q4 24 | — | 11.6% | ||
| Q3 24 | — | 13.0% | ||
| Q2 24 | -16.3% | 36.1% | ||
| Q1 24 | — | 11.4% |
| Q4 25 | 1.8% | 4.8% | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | 3.3% | 11.0% | ||
| Q1 25 | 2.4% | 4.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | 3.3% | 2.0% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | 4.21× | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | -0.16× | -1.00× | ||
| Q1 25 | 3.38× | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.54× | 3.21× | ||
| Q1 24 | — | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCM
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
