PerpEquities

Jiangsu Hengrui Pharmaceuticals Co., Ltd. (A shares) (HENGRUI) financials

SHH · Healthcare · Drug Manufacturers - Specialty & Generic · 20,602 employees · CEO Sun Piaoyang

Price
CN¥48.97 +1.05%
Market cap
CN¥312B
Enterprise value
CN¥269B
Last report
Q3 '26 filed 2026-09-30
Next report
2027-04-19 EPS est. CN¥0.32
Revenue (TTM)CN¥32.9B+6.0% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)27.4%-0.3 pp vs a year agoOperating income CN¥9.01B
Net income (TTM)CN¥8.88B+18.9% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)CN¥6.11B-37.7% vs a year agoCapex CN¥3.92B
Diluted EPS (TTM)CN¥1.34+14.5% vs a year agoSum of the last 4 quarters
Net cashCN¥43.1B+6.8% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap
CN¥312B
EV CN¥269B
Revenue
CN¥32.9B
Trailing 12 months
Revenue growth
+7%
FY2026 consensus
Profit margin
27.0%
Net income / revenue, TTM
P/E
36.3×
Forward 35.3× (FY2026)
P/S
9.5×
Price / sales, TTM
EV / EBITDA
27.6×
TTM
Free cash flow
CN¥6.11B
Trailing 12 months
Net income
CN¥8.88B
Trailing 12 months
Revenue estimate
CN¥33.5B
FY2026 consensus
Earnings
2027-04-19
Revenue est. CN¥8.85B
Dividend
CN¥0.20
Per share, last 12 months

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

  • Last report (2026-10-27): revenue in line, EPS beat by 11.2%Revenue CN¥8.88B vs CN¥8.91B expected (-0.3%); EPS CN¥0.37 vs CN¥0.33 (+11.2%).
  • Revenue growth accelerating: 20.6% year on yearQ3 '26 revenue CN¥8.95B, against an average of 4.9% over the four quarters before.
  • Operating margin 27.4% (TTM), -0.3 pp on a year agoOperating income grew 4.9% while revenue grew 6.0%.
  • 10.1% of pre-tax profit is non-operatingPre-tax income CN¥10B vs operating income CN¥9.01B (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
  • Capex 11.9% of revenue (a year ago 7.0%)CN¥3.92B invested in the last 4 quarters (+81.5% on a year earlier). Free cash flow CN¥6.11B = 68.7% of net income.
  • Returned CN¥2.31B to shareholders = 37.8% of free cash flowBuybacks CN¥978M (a year earlier CN¥228M), dividends CN¥1.33B, stock-based pay CN¥0 (TTM).
  • Diluted share count down 0.1% in a year6.6B diluted shares in Q3 '26, 6.6B a year earlier.
  • Net cash CN¥43.1BCash + short-term investments CN¥43.6B, debt incl. leases CN¥422M; a year ago net cash CN¥40.4B.

Last quarter: Q3 '26

Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

Q3 '26Year agoChange
RevenueCN¥8.95BCN¥7.43B+20.6%
Gross margin87.6%85.5%+2.1 pp
Operating incomeCN¥2.81BCN¥1.28B+118.3%
Operating margin31.3%17.3%+14.0 pp
Net incomeCN¥2.46BCN¥1.3B+88.9%
Diluted EPSCN¥0.37CN¥0.20+85.0%
Operating cash flowCN¥5.88BCN¥4.81B+22.1%
CapexCN¥1.09BCN¥447M+144.6%
Free cash flowCN¥4.78BCN¥4.36B+9.6%
R&DCN¥1.93BCN¥1.72B+12.4%
Stock-based compensationCN¥0CN¥0–

Reported vs consensus

2026-10-27
ActualConsensusvs consensus
RevenueCN¥8.88BCN¥8.91B-0.3%
EPS (as estimated)CN¥0.37CN¥0.33+11.2%

From the report of 2026-10-27 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement
Operating cash flow
CN¥10B
Capex
-CN¥3.92B
Buybacks
-CN¥978M
Dividends
-CN¥1.33B
Acquisitions
-CN¥476M
Net debt issued
-CN¥81.3M
Stock-based compensation
CN¥0
Free cash flow
CN¥6.11B
Returned to shareholders / FCF
37.8%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years
Now5y averageWhere today sits in the 5-year range
P/E (TTM)36.3×59.4×45.9× – 71.4×
EV / EBITDA27.6×52.0×35.9× – 72.0×
EV / Sales8.2×11.0×9.5× – 12.0×
Price / FCF51.2×68.2× 4 of 5 years46.5× – 126.7×
Price / Book4.8×7.1×6.3× – 9.2×
FCF yield2.0%1.3%-0.3% – 2.2%
Return on invested capital11.4%11.8%10.0% – 14.1%
Return on equity13.9%12.1%10.3% – 13.9%

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal yearRevenueGrowthEPSGrowthP/E at today's priceAnalysts (EPS)
FY2026CN¥33.5B+6.7%CN¥1.39+17.6%35.3×12
FY2027CN¥38B+13.4%CN¥1.56+12.2%31.4×10
FY2028CN¥43.4B+14.1%CN¥1.81+16.2%27.1×14
FY2029CN¥59.6B+37.5%CN¥2.88+58.9%17.0×7
FY2030CN¥73.8B+23.8%CN¥3.59+24.8%13.6×11

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpenBalance sheetCash, investments, assets, debt, liabilities and equityOpenCash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates: Financial Modeling Prep.

Data as of 2026-11-02