What is BeOne Medicines Ltd. (ONC)'s fair-value range?

EvidInvest reads BeOne Medicines Ltd. (ONC)'s market price back into the assumptions behind it — the implied P/E, growth rate and cash yield — using its latest filed financials, then lets you set your own. See the full DCF, Graham number, EPV and multiple-based methods at https://evidinvest.com/valuation/ONC.

How is BeOne Medicines Ltd. (ONC)'s fair value calculated?

BeOne Medicines Ltd. (ONC)'s fair value is computed with several independent methods — a discounted cash flow (DCF) model, the Graham number, earnings power value (EPV), and valuation multiples (PE, EV/EBITDA, P/S, P/B) benchmarked against its industry — using data from SEC filings.

What is BeOne Medicines Ltd. (ONC)'s PE ratio versus its industry?

EvidInvest shows BeOne Medicines Ltd. (ONC)'s current and historical PE ratio alongside its sector and industry averages, so you can see whether the stock trades at a premium or discount to peers. Full breakdown at https://evidinvest.com/valuation/ONC.

Fair value · BeOne Medicines Ltd. (ONC) · updated 2026-10-02 · from 20-F FY2025

BeOne Medicines trades at $352.36. We are not reading assumptions out of that price: this is a depositary receipt and we cannot show whether its per-share figures are stated per ADS or per ordinary share, so these methods are withheld rather than shown at a scale we cannot verify.

Everything below is unaffected: the filed statements, the filing they came from, and ONC’s growth history are all as reported.

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The filing behind these numbers

BeOne Medicines Ltd.

Revenue: $5.3B
Diluted EPS: $0.19
Free cash flow: $941.7M; operating cash flow − capital expenditure
Diluted shares: 1.47B; weighted average

20-F FY2025 · fiscal year ended 2025-12-31 · filed 2026-02-26 · accession 0001628280-26-011946

Trailing-twelve-month EPS also uses the quarterly 6-Ks through Q2 FY2026 (filed 2026-08-05).

Open this filing on sec.gov

Valuation tool: build your own ONC range

Fair Value Summary

Daily Price — ONC

$358.77 +7.0% (1Y)

Your range0 of 7 methods

At least two methods need a usable value to draw a range with these inputs.

Range with preset inputs

No preset range for this company yet.

The two ranges are identical because every input sits on a preset.

We don’t tell you what ONC is worth. Every tab OPENS on what today’s price implies for that method’s key assumption; you decide whether that assumption is reasonable — the growth matrix has ONC’s filed history and the AI chat will reason it through with you — and the range you build is yours. Our presets are filed history and reference settings, never a recommendation.

Discounted cash flow

N/A

This is a depositary receipt and we cannot show whether its per-share figures are stated per ADS or per ordinary share, so these methods are withheld rather than shown at a scale we cannot verify.

Preset inputs — revenue-driven DCF from the latest filing

Implied by today’s price

This is a depositary receipt and we cannot show whether its per-share figures are stated per ADS or per ordinary share, so these methods are withheld rather than shown at a scale we cannot verify.

Not solvable from the price — This is a depositary receipt and we cannot show whether its per-share figures are stated per ADS or per ordinary share, so these methods are withheld rather than shown at a scale we cannot verify. Showing preset inputs.

This method has no key input to read out of the price. The others below do, and you set them yourself: the growth matrix shows what ONC has actually filed, and the AI chat will reason it through with you.

Your inputs

Free cash flow grows at your stage-1 rate, then your stage-2 rate, then a terminal rate; everything is discounted at your WACC.

Stage-1 growth5.0%

Yearly free-cash-flow growth for the first stage. Starts below zero so a shrinking-cash-flow case — and the rate today’s price implies — can be set.

-20.0%60.0%

Stage-1 years5 yrs

How long stage-1 growth lasts.

1 yrs10 yrs

Stage-2 growth2.5%

Slower growth after stage 1, before the terminal phase.

-20.0%30.0%

Stage-2 years5 yrs

0 yrs10 yrs

Terminal growth2.5%

Growth forever after the two stages. Above ~3% is rarely justified.

0.0%5.0%

Discount rate (WACC)6.72%

The return you require. Default is the WACC EvidInvest computed for this company. Higher discount rate, lower value.

3.00%15.00%

Net debt ($M)Debt minus cash, from the balance sheet. Subtracted from enterprise value.

Starting FCF ($M)Latest free cash flow from the filing (operating cash flow minus capex).

Shares (M)Diluted shares, from the filing.

Year by year (two-stage model, $M)

PV explicit $8,341M · PV terminal $17,241M · EV $25,582M · equity $29,028M

Year	Stage	FCF	Present value
1	Stage 1	$989M	$927M
2	Stage 1	$1,039M	$912M
3	Stage 1	$1,090M	$897M
4	Stage 1	$1,145M	$883M
5	Stage 1	$1,202M	$868M
6	Stage 2	$1,232M	$834M
7	Stage 2	$1,263M	$801M
8	Stage 2	$1,295M	$769M
9	Stage 2	$1,327M	$739M
10	Stage 2	$1,360M	$710M

Inputs from the filing

Free cash flow: $1.3B; sum of the last four quarters
EBIT: $447.1M; latest annual
Shares: 1.45B
Total debt: $1.1B
Cash: $4.5B
Net debt: $-3.4B; debt − cash

20-F FY2025 · period ended 2025-12-31 · filed 2026-02-26 · accession 0001628280-26-011946 · sec.gov

Prefer a blank slate with reverse DCF? Open the standalone DCF / reverse DCF for ONC

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Options positioning

Full options view: walls, IV term structure, smile →

0.72

Put/Call (OI)

call-heavy

0.29

Put/Call (volume)

33%

ATM IV ~30d

$370

Call wall

0k OI

$330

Put wall

0k OI

As of previous close (2026-10-01) · OPRA historical data · walls = largest open-interest strikes above/below spot · market-wide positioning

BeOne Medicines trades at $352.36. We are not reading assumptions out of that price: this is a depositary receipt and we cannot show whether its per-share figures are stated per ADS or per ordinary share, so these methods are withheld rather than shown at a scale we cannot verify.

The filing behind these numbers

Valuation tool: build your own ONC range

Daily Price — ONC

Your range0 of 7 methods

Range with preset inputs

Your inputs

Year by year (two-stage model, $M)

Options positioning

More on ONC

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Valuation tool: build your own ONC range

Daily Price — ONC

Your range0 of 7 methods

Range with preset inputs

Your inputs

Year by year (two-stage model, $M)

Options positioning

More on ONC

Compare with peers

Explore