ONC
BeOne Medicines Ltd.
ONC's fundamentals are strong: revenue grew 33% and its operating margin rose 14 points to 18%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
ONC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
ONC's revenue, profitability, cash flow and balance sheet are all currently healthy.
ONC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 52x | $416 | — |
| Cheap | 62x | $37.70 | -91% |
| Fair | 72x | $43.95 | -89% |
| Expensive | 650x | $396 | -4.8% |
Historical ranges are pointers, not guarantees.
ONC's PE is 52x, but its earnings don't support one, so it isn't a reliable read right now.
ONC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for ONC, with profitability improving.
ONC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.61 | +1425% |
| Q2 2026 | $0.44 | +$0.57 |
| Q1 2026 | $0.34 | +$0.62 |
| Q4 2025 | $0.19 | +$0.66 |
| Q3 2025 | $0.04 | +$0.67 |
| Q2 2025 | -$0.13 | +$0.26 |
| Q1 2025 | -$0.28 | +$0.30 |
| Q4 2024 | -$0.47 | +$0.18 |
ONC's earnings per share have climbed steadily: $0.61 over the past year, more than ten times what it earned the year before, and higher year over year for 15 quarters in a row.
ONC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.9B | +34% |
| Q2 2026 | $1.7B | +30% |
| Q1 2026 | $1.5B | +35% |
| Q4 2025 | $1.5B | +33% |
| Q3 2025 | $1.4B | +41% |
| Q2 2025 | $1.3B | +42% |
| Q1 2025 | $1.1B | +49% |
| Q4 2024 | $1.1B | +78% |
ONC's revenue has grown year over year for 18 quarters in a row: $1.9B last quarter, up 34% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 22% | +11 points |
| Q2 2026 | 19% | +12 points |
| Q1 2026 | 17% | +16 points |
| Q4 2025 | 12% | +19 points |
| Q3 2025 | 12% | +24 points |
| Q2 2025 | 6.7% | +18 points |
| Q1 2025 | 1% | +36 points |
| Q4 2024 | -7% | +54 points |
ONC's operating margin was 22% last quarter, up 11 points from the same quarter a year ago, near the top of its range since 2019.
ONC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $473.5M | +34% |
| Q2 2026 | $435.3M | +98% |
| Q1 2026 | $160.5M | +$172.9M |
| Q4 2025 | $379.8M | +$397.1M |
| Q3 2025 | $354.5M | +548% |
| Q2 2025 | $219.8M | +$425.3M |
| Q1 2025 | -$12.3M | +$452.8M |
| Q4 2024 | -$17.3M | +$361.3M |
ONC has burned cash in most quarters: $1.4B over the past year, up 166% from the year before.
ONC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.3% | +19.6M shares |
| 1 year | +2.4% | +36.2M shares |
| 3 years | +9.7% | +135M shares |
| 5 years | +26% | +319M shares |
| Available history | +52% | +520M shares |
ONC has 1.5B diluted shares, up 2.4% from a year ago.
ONC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -3.4x | Net Cash |
| Q2 2026 | -3.7x | Net Cash |
| Q1 2026 | -4.4x | Net Cash |
| Q4 2025 | -6.0x | Net Cash |
| Q3 2025 | -9.5x | Net Cash |
| Q2 2025 | -20.2x | Net Cash |
ONC has more cash than debt.
ONC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 70.6 | Overbought |
| Stochastic | 87.7 | Overbought |
ONC's weekly RSI is 71 (overbought) and its Stochastic is 88 (overbought).
ONC PE vs Healthcare Sector
| Metric | ONC | Sector median | Relative |
|---|---|---|---|
| PE | 52x | 26x | 103% above |
| PE % | 2 | 29 | 27 pts below |
ONC is trading at 52x earnings, a 103% premium to the Healthcare sector's median of 26x, though its earnings don't support one.
ONC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $376.7 | 10% above |
| 20 week MA | $352.8 | 18% above |
| 50 week MA | $326.9 | 27% above |
| 100 week MA | $298.0 | 40% above |
| 200 week MA | $244.9 | 70% above |
ONC is in an uptrend: it's above all five of its weekly moving averages, and 70% above its 200-week average.
ONC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $167.2 | $263.7 | +58% |
| 2021 | $263.7 | $268.6 | +1.9% |
| 2022 | $268.6 | $226.1 | -16% |
| 2023 | $226.1 | $180.4 | -20% |
| 2024 | $180.4 | $181.9 | +0.8% |
| 2025 | $181.9 | $312.4 | +72% |
| 2026 YTD | $312.4 | $416.0 | +33% |
ONC has finished higher in four of the last six years, two of them by more than 50%. It's up 33% so far in 2026.