Discounted Cash Flow

Hutchmed (China) Ltd. ADR

HCM · Based on 10 years of SEC filings · Converted from HKD to USD (5 ordinary shares per ADR)

⚠ Cash flow predictability 44/100 (moderate) — FCF YoY std dev 69%, net income 73% (full history)

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income
Dividends

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $27.6m $1.5m $-1.8m 5.4% $0.20
2017 $30.8m (11.6%) $-3.4m (-328.6%) $-1.8m (-0.5%) -11.1% (-304.8%) $-0.43 (-315.0%)
2018 $27.3m (-11.2%) $-9.5m (-179.8%) $-5.0m (-180.8%) -34.9% (-215.2%) $-1.13 (-162.8%)
2019 $26.1m (-4.3%) $-13.5m (-41.7%) $-11.4m (-128.2%) -51.7% (-48.1%) $-0.16 (85.8%)
2020 $29.1m (11.3%) $-16.0m (-18.6%) $-8.9m (21.8%) -55.2% (-6.6%) $-0.18 (-12.5%)
2021 $45.4m (56.2%) $-24.8m (-54.8%) $-28.1m (-215.1%) -54.7% (0.9%) $-0.25 (-38.9%)
2022 $54.4m (19.7%) $-46.0m (-85.4%) $-38.9m (-38.4%) -84.6% (-54.8%) $-0.43 (-72.0%)
2023 $106.9m (96.5%) $12.9m (127.9%) $23.8m (161.1%) 12.0% (114.2%) $0.12 (127.9%)
2024 $80.4m (-24.8%) $4.8m (-62.6%) $-2.2m (-109.3%) 6.0% (-50.2%) $0.04 (-66.7%)
2025 $69.9m (-13.0%) $58.3m (1111.0%) $-10.0m (-352.0%) 83.3% (1291.4%) $0.53 (1225.0%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in HKD. Values above are converted to USD for comparison with the US-listed share price.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model