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Side-by-side financial comparison of HUTCHMED (China) Ltd (HCM) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
HUTCHMED (China) Ltd is the larger business by last-quarter revenue ($270.8M vs $183.8M, roughly 1.5× Wheels Up Experience Inc.). HUTCHMED (China) Ltd runs the higher net margin — 0.7% vs -15.7%, a 16.4% gap on every dollar of revenue. On growth, Wheels Up Experience Inc. posted the faster year-over-year revenue change (-10.2% vs -16.5%). HUTCHMED (China) Ltd produced more free cash flow last quarter ($3.4M vs $-58.3M).
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.
Wheels Up is a provider of "on demand" private aviation in the United States and one of the largest private aviation companies in the world. It was founded in 2013 by Kenny Dichter, using a membership/on-demand business model. Wheels Up members can book private aircraft from the company fleet and third-party operators using a mobile application.
HCM vs UP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $270.8M | $183.8M |
| Net Profit | $2.0M | $-28.9M |
| Gross Margin | 37.7% | 14.3% |
| Operating Margin | -13.2% | -0.9% |
| Net Margin | 0.7% | -15.7% |
| Revenue YoY | -16.5% | -10.2% |
| Net Profit YoY | -83.6% | 67.0% |
| EPS (diluted) | $0.00 | $-0.04 |
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 | $183.8M | ||
| Q3 25 | — | $185.5M | ||
| Q2 25 | $277.7M | $189.6M | ||
| Q1 25 | $324.5M | $177.5M | ||
| Q4 24 | — | $204.8M | ||
| Q3 24 | — | $193.9M | ||
| Q2 24 | $305.7M | $196.3M | ||
| Q1 24 | — | $197.1M |
| Q4 25 | $2.0M | $-28.9M | ||
| Q3 25 | — | $-83.7M | ||
| Q2 25 | $455.0M | $-82.3M | ||
| Q1 25 | $11.9M | $-99.3M | ||
| Q4 24 | — | $-87.5M | ||
| Q3 24 | — | $-57.7M | ||
| Q2 24 | $25.8M | $-97.0M | ||
| Q1 24 | — | $-97.4M |
| Q4 25 | 37.7% | 14.3% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | 0.1% | 8.3% | ||
| Q1 25 | 48.0% | 10.8% | ||
| Q4 24 | — | 13.9% | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | 41.1% | 2.3% | ||
| Q1 24 | — | -0.6% |
| Q4 25 | -13.2% | -0.9% | ||
| Q3 25 | — | -33.1% | ||
| Q2 25 | -1.3% | -31.4% | ||
| Q1 25 | -5.0% | -45.5% | ||
| Q4 24 | — | -26.0% | ||
| Q3 24 | — | -21.6% | ||
| Q2 24 | -9.0% | -40.3% | ||
| Q1 24 | — | -42.9% |
| Q4 25 | 0.7% | -15.7% | ||
| Q3 25 | — | -45.1% | ||
| Q2 25 | 163.8% | -43.4% | ||
| Q1 25 | 3.7% | -55.9% | ||
| Q4 24 | — | -42.7% | ||
| Q3 24 | — | -29.8% | ||
| Q2 24 | 8.4% | -49.4% | ||
| Q1 24 | — | -49.4% |
| Q4 25 | $0.00 | $-0.04 | ||
| Q3 25 | — | $-0.12 | ||
| Q2 25 | $0.52 | $-0.12 | ||
| Q1 25 | $0.01 | $-0.14 | ||
| Q4 24 | — | $-0.13 | ||
| Q3 24 | — | $-0.08 | ||
| Q2 24 | $0.03 | $-0.14 | ||
| Q1 24 | — | $-0.14 |
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 | $133.9M |
| Total DebtLower is stronger | $93.2M | $671.3M |
| Stockholders' EquityBook value | $1.2B | $-392.1M |
| Total Assets | $1.8B | $968.8M |
| Debt / EquityLower = less leverage | 0.08× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.4B | $133.9M | ||
| Q3 25 | — | $125.3M | ||
| Q2 25 | $1.4B | $107.0M | ||
| Q1 25 | $836.1M | $171.8M | ||
| Q4 24 | — | $216.4M | ||
| Q3 24 | — | $115.9M | ||
| Q2 24 | $802.5M | $141.5M | ||
| Q1 24 | — | $180.9M |
| Q4 25 | $93.2M | $671.3M | ||
| Q3 25 | — | $766.5M | ||
| Q2 25 | $93.4M | $770.5M | ||
| Q1 25 | $82.8M | $765.8M | ||
| Q4 24 | — | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | $82.1M | $597.4M | ||
| Q1 24 | — | $603.2M |
| Q4 25 | $1.2B | $-392.1M | ||
| Q3 25 | — | $-374.5M | ||
| Q2 25 | $1.2B | $-347.8M | ||
| Q1 25 | $759.9M | $-288.1M | ||
| Q4 24 | — | $-202.1M | ||
| Q3 24 | — | $-117.7M | ||
| Q2 24 | $740.1M | $-72.2M | ||
| Q1 24 | — | $936.0K |
| Q4 25 | $1.8B | $968.8M | ||
| Q3 25 | — | $973.0M | ||
| Q2 25 | $1.8B | $1.0B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | $1.3B | $1.1B | ||
| Q1 24 | — | $1.2B |
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 0.11× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.11× | — | ||
| Q1 24 | — | 644.43× |
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 | $-18.4M |
| Free Cash FlowOCF − Capex | $3.4M | $-58.3M |
| FCF MarginFCF / Revenue | 1.2% | -31.7% |
| Capex IntensityCapex / Revenue | 1.8% | 21.7% |
| Cash ConversionOCF / Net Profit | 4.21× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-96.2M | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $-18.4M | ||
| Q3 25 | — | $-37.1M | ||
| Q2 25 | $-72.9M | $-62.9M | ||
| Q1 25 | $40.3M | $-47.9M | ||
| Q4 24 | — | $37.9M | ||
| Q3 24 | — | $-16.9M | ||
| Q2 24 | $-39.8M | $-25.2M | ||
| Q1 24 | — | $-73.8M |
| Q4 25 | $3.4M | $-58.3M | ||
| Q3 25 | — | $-60.4M | ||
| Q2 25 | $-82.2M | $-78.6M | ||
| Q1 25 | $32.5M | $-62.6M | ||
| Q4 24 | — | $-70.2M | ||
| Q3 24 | — | $-21.9M | ||
| Q2 24 | $-49.9M | $-30.8M | ||
| Q1 24 | — | $-77.8M |
| Q4 25 | 1.2% | -31.7% | ||
| Q3 25 | — | -32.6% | ||
| Q2 25 | -29.6% | -41.5% | ||
| Q1 25 | 10.0% | -35.3% | ||
| Q4 24 | — | -34.3% | ||
| Q3 24 | — | -11.3% | ||
| Q2 24 | -16.3% | -15.7% | ||
| Q1 24 | — | -39.5% |
| Q4 25 | 1.8% | 21.7% | ||
| Q3 25 | — | 12.5% | ||
| Q2 25 | 3.3% | 8.3% | ||
| Q1 25 | 2.4% | 8.3% | ||
| Q4 24 | — | 52.8% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | 3.3% | 2.9% | ||
| Q1 24 | — | 2.0% |
| Q4 25 | 4.21× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.16× | — | ||
| Q1 25 | 3.38× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.54× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
