HCMHUTCHMED (China) Limited

$14.04-18% 1Y

Is it safe?

Watch

Caution warranted: heavy debt (BB) and big price swings.

2 to watch, 4 without data
Credit gradeBBderived · Dec 31, 2019

Net cash, but unprofitable, speculative. A rule of thumb on leverage, not a credit rating.

Drawdown risk49% volderived · Oct 9, 2026

Large price swings, high volatility. Worst drawdown -82% · now 16% below its 52-week high.

Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.

Can HCM take a bad year?

HUTCHMED (China) Limited holds $190M more cash than debt, and is burning $22M a quarter, about 2.4 years of cover.

$190M

Net cash

Net debt / EBITDA
net cash

Net debt / EBITDA · no net borrowings to measure against earnings

Cash runway
2.4 years

Cash runway · burning $22M a quarter at the current rate

Annualised volatility
49%

Annualised volatility · roughly twice as jumpy as the market

Details›
Total debtQ4 2019
$27M
Cash and short-term investments
$217M
Net cash
$190M
EBITDA, trailing twelve months
−$141M
Operating profit, trailing twelve months
−$146M
Debt / equity
0.09×
Annualised volatilitytwo years of daily moves
49%
Worst drawdown on file
−82%
Below its 52-week high
16%

Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.