Financials BeiGene, Ltd.

Equities

BGNE

US07725L1026

Biotechnology & Medical Research

Market Closed - Nasdaq Other stock markets 01:30:00 20/09/2024 am IST			5-day change	1st Jan Change
198.59 ^USD	+0.66%		+1.18%	+10.11%

18/09	JMP Securities Initiates BeiGene at Outperform With $288 Price Target	MT
17/09	BeiGene Receives Israeli Ministry of Health Approval for TEVIMBRA® for the Treatment of Oesophageal Squamous Cell Carcinoma After Prior Chemotherapy	CI

Projected Income Statement: BeiGene, Ltd.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	428.2	308.9	1,176	1,416	2,459	3,616	4,534	5,595
Change	-	-27.87%	280.83%	20.37%	73.65%	47.06%	25.4%	23.4%
EBITDA ¹	-941.3	-1,626	-1,392	-1,723	-1,120	-587.8	-93.25	440.4
Change	-	72.73%	-14.37%	23.78%	-35.01%	47.52%	84.14%	-
EBIT ¹	-959.9	-1,658	-1,439	-1,790	-1,208	-701.7	-223.9	287.9
Change	-	72.69%	-13.21%	24.39%	-32.52%	41.9%	68.08%	-
Interest Paid ¹	9.131	1.998	-15.76	52.48	74.01	-4.902	-31.24	-33.62
Earnings before Tax (EBT) ¹	-943.6	-1,618	-1,439	-1,961	-825.8	-662.1	-198.7	403.3
Change	-	71.49%	-11.1%	36.32%	-57.89%	19.83%	69.98%	-
Net income ¹	-948.6	-1,597	-1,413	-2,004	-881.7	-674.2	-161.1	367.9
Change	-	68.34%	-11.49%	41.78%	-56%	23.54%	76.11%	-
Announcement Date	02/03/20	25/02/21	25/02/22	27/02/23	26/02/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2
Net sales ¹	50.14	56.89	52.06	65.64	91.08	100.1	605.9	150	206.4	214	306.6	341.6	387.6	380.1	447.8	595.3	781.3	634.4	751.7	929.2	981.2	1,035	1,058	1,105	1,159	1,208	1,241	1,267
Change	-	13.46%	-8.5%	26.08%	38.77%	9.9%	505.27%	-75.24%	37.63%	3.65%	43.3%	11.4%	13.48%	-1.94%	17.81%	32.93%	31.25%	-18.8%	18.48%	23.62%	5.6%	5.46%	2.24%	4.4%	4.91%	4.25%	2.73%	2.08%
EBITDA ¹	-308.2	-	-	-	-	-477.1	79.8	-463.3	-450.1	-558.6	-426.7	-423.9	-422.2	-450.6	-351.2	-	-112.5	-565.3	-236.1	-82.23	-282	-245.3	-93.49	-74.51	-60.24	-57.87	74.22	100.1
Change	-	-100%	-	-	-	-	-	-	-2.84%	24.1%	-23.62%	-0.64%	-0.42%	6.74%	-22.05%	-100%	-	402.67%	-58.24%	-65.16%	-242.89%	13%	61.89%	20.3%	19.15%	3.93%	-	34.93%
EBIT ¹	-312.3	-388	-373.8	-358.9	-440.1	-484.9	70.17	-474.8	-462.3	-571.7	-443.3	-439.4	-438.4	-468.6	-371.3	-318.7	-134	-589.1	-261.3	-107.2	-157.1	-135.1	-90.61	-55.1	-18.21	-5.648	27.08	53
Change	-	24.26%	-3.68%	-3.98%	22.64%	10.17%	-	-	-2.64%	23.67%	-22.47%	-0.88%	-0.24%	6.9%	-20.78%	-14.15%	-57.97%	339.74%	-55.64%	-59%	-46.59%	13.99%	32.93%	39.19%	66.95%	68.99%	-	95.71%
Charge d'intérêts	2.206	-0.438	6.69	1.108	-0.614	-5.186	-4.179	-4.866	-2.23	-4.482	10.07	11.43	-	18.22	-	-	26.65	16.27	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	-311.9	-380.3	-363.4	-337.8	-435	-482	61.86	-480.6	-433.1	-586.8	-421.2	-557.6	-551.2	-431	-336.9	-367.5	229.3	-350.8	-243.4	-105.9	-85.44	-62.21	-55.78	-11.89	36.47	54.34	-	-
Change	-	21.95%	-4.46%	-7.04%	28.79%	10.79%	-	-	-9.88%	35.5%	-28.21%	32.36%	-1.14%	-21.82%	-21.82%	9.06%	-	-	-30.6%	-56.49%	19.34%	27.19%	10.33%	78.68%	-	49%	-100%	-
Net income ¹	-307.4	-388.1	-363.7	-335.2	-425.2	-472.7	66.5	-480.3	-413.9	-585.7	-434.3	-571.4	-557.6	-445.3	-348.4	-381.1	215.4	-367.6	-251.2	-120.4	-101.1	-75.4	-58.56	-12.6	28.84	42.92	-	-
Change	-	26.26%	-6.27%	-7.84%	26.86%	11.18%	-	-	-13.84%	41.51%	-25.85%	31.59%	-2.43%	-20.13%	-21.76%	9.39%	-	-	-31.67%	-52.06%	16.02%	25.42%	22.34%	78.49%	-	48.84%	-100%	-
Announcement Date	12/11/19	02/03/20	11/05/20	06/08/20	05/11/20	25/02/21	06/05/21	05/08/21	04/11/21	25/02/22	05/05/22	04/08/22	09/11/22	27/02/23	04/05/23	02/08/23	09/11/23	26/02/24	08/05/24	07/08/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 S2	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2
Net sales ¹	420.4	606.4	1,043	-	1,681	1,948
Change	-	44.24%	72%	-100%	-	15.9%
EBITDA	-	-	-	-	-	-
Change	-	-	-	-	-	-
EBIT ¹	-	-907	-690	-	-368.5	-190
Change	-	-	-23.93%	-100%	-	48.44%
Charge d'intérêts	-	-	-	16.27	-	-
Earnings before Tax (EBT) ¹	-	-982.2	-704.4	-	-349.3	-161
Change	-	-	-28.28%	-100%	-	53.91%
Net income ¹	-999.5	-998.1	-729.6	-	-371.6	-166
Change	-	-0.14%	-26.9%	-100%	-	55.32%
Announcement Date	25/02/22	27/02/23	02/08/23	26/02/24	07/08/24	-

¹USD in Million

Estimates

Forecast Balance Sheet: BeiGene, Ltd.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-742	-4,132	-3,746	-3,332	-2,297	-1,740	-1,588	-2,062
Change	-	-656.87%	-190.66%	-188.95%	-168.94%	-175.74%	-191.26%	-229.85%
Announcement Date	02/03/20	25/02/21	25/02/22	27/02/23	26/02/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: BeiGene, Ltd.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	89.61	117.5	262.9	325.4	561.9	287.1	255.7	273.4
Change	-	31.13%	123.77%	23.77%	72.66%	-48.91%	-10.92%	6.9%
Free Cash Flow (FCF) ¹	-839.9	-1,401	-1,562	-1,822	-1,719	-609.3	-336.4	264.1
Change	-	66.81%	11.47%	16.67%	-5.64%	-64.56%	-44.8%	-178.52%
Announcement Date	02/03/20	25/02/21	25/02/22	27/02/23	26/02/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: BeiGene, Ltd.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	-219.81%	-526.39%	-118.36%	-121.71%	-45.55%	-16.26%	-2.06%	7.87%
EBIT Margin (%)	-224.16%	-536.69%	-122.31%	-126.4%	-49.12%	-19.4%	-4.94%	5.15%
EBT Margin (%)	-220.35%	-523.9%	-122.3%	-138.5%	-33.59%	-18.31%	-4.38%	7.21%
Net margin (%)	-221.53%	-517.01%	-120.15%	-141.52%	-35.86%	-18.65%	-3.55%	6.57%
FCF margin (%)	-196.14%	-453.57%	-132.76%	-128.68%	-69.93%	-16.85%	-7.42%	4.72%
FCF / Net Income (%)	88.54%	87.73%	110.49%	90.93%	195%	90.38%	208.83%	71.8%
Profitability
ROA	-49.13%	-44.28%	-19.84%	-26.87%	-14.47%	-15.42%	-7.91%	4.95%
ROE	-70.23%	-66.1%	-27.95%	-38.11%	-22.26%	-19.92%	-6.57%	9.61%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	20.93%	38.04%	22.35%	22.98%	22.85%	7.94%	5.64%	4.89%
CAPEX / EBITDA (%)	-9.52%	-7.23%	-18.89%	-18.88%	-50.17%	-48.84%	-274.26%	62.07%
CAPEX / FCF (%)	-10.67%	-8.39%	-16.84%	-17.86%	-32.68%	-47.11%	-76.03%	103.51%
Items per share
Cash flow per share ¹	-12.49	-15.38	-14	-14.51	-11.09	2.16	-1.478	6.988
Change	-	23.07%	-8.97%	3.68%	-23.59%	-119.48%	-168.45%	-572.78%
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	14.77	46.35	67.28	42.5	33.89	31.35	31.22	40.26
Change	-	213.78%	45.15%	-36.83%	-20.27%	-7.47%	-0.44%	28.97%
EPS ¹	-15.8	-19.13	-15.23	-19.43	-8.45	-5.975	-0.9256	4.634
Change	-	21.08%	-20.39%	27.58%	-56.51%	-29.29%	-84.51%	-600.68%
Nbr of stocks (in thousands)	61,136	90,924	1,02,770	1,03,859	1,04,578	1,06,321	1,06,321	1,06,321
Announcement Date	02/03/20	25/02/21	25/02/22	27/02/23	26/02/24	-	-	-