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BeOne Medicines cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$474M in Q3 2026 · $1.4B over twelve months

Operating cash flow$509M
Capital spending−$35.2M
Free cash flow+$474M
Cash / net income1.3×

Analysis

In Q3 2026, BeOne Medicines generated $509M of operating cash flow and spent $35.2M on capital projects, leaving free cash flow of $474M. That is $119M more than in Q3 2025 ($354M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.6B; the largest uses were net borrowing (+) / repaid (−) ($746M), capital spending ($141M), other investing ($28.0M); besides operations, cash came from other financing ($843M), shares issued ($164M); the cash balance rose by $1.8B.

Operating cash flow was $509M against net income of $385M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$132M, inventory −$66.4M, depreciation & amortization +$60.9M.

Free cash flow

BeOne Medicines: free cash flow by quarterBeOne Medicines: free cash flow by quarter−$17.3MQ4 2024−$12.3MQ1 2025$220MQ2 2025$354MQ3 2025$380MQ4 2025$161MQ1 2026$435MQ2 2026$474MQ3 2026
Operating cash flow less capital spending.
BeOne Medicines: operating cash flow against capital spendingBeOne Medicines: operating cash flow against capital spendingOperating cash flowCapital spending$75.2M$92.5MQ4 2024$44.1M$56.4MQ1 2025$264M$43.8MQ2 2025$403M$48.1MQ3 2025$417M$37.5MQ4 2025$201M$40.8MQ1 2026$463M$27.5MQ2 2026$509M$35.2MQ3 2026
Latest (Q3 2026): Operating cash flow $509M, Capital spending $35.2M.

Capital allocation, year by year

BeOne Medicines: where the cash came from (up) and went (down), by fiscal yearBeOne Medicines: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2021: Operating cash flow −$1.3BFY2021: Net borrowing $102MFY2021: Shares issued $143MFY2021: Capital spending −$263M$244MFY2021FY2022: Operating cash flow −$1.5BFY2022: Net borrowing −$65.9MFY2022: Shares issued $47.0MFY2022: Capital spending −$325M$47.0MFY2022FY2023: Operating cash flow −$1.2BFY2023: Net borrowing $361MFY2023: Shares issued $55.7MFY2023: Capital spending −$562M$416MFY2023FY2024: Operating cash flow −$141MFY2024: Net borrowing $145MFY2024: Shares issued $45.4MFY2024: Capital spending −$493M$190MFY2024FY2025: Operating cash flow $1.1BFY2025: Net borrowing $3.8MFY2025: Shares issued $196MFY2025: Capital spending −$186M$1.3BFY2025
Over these 5 years operating cash flow totalled −$3.0B; the largest uses were operating cash flow ($4.1B) and capital spending ($1.8B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$5.8B
Debt$866M
Net cash$4.9B
Due within a year$377M

BeOne Medicines funds itself: free cash flow was $1.4B over the last twelve months, and $5.8B of cash and investments stands against $866M of debt ($377M due within a year, 15.4× covered by cash).

Where the cash came from and went

BeOne Medicines: sources (+) and uses (−) of cash, Q3 2026BeOne Medicines: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)−$586MOperating cash flow$509MShares issued$110MCapital spending−$35.2MExchange rates$10.5MNet borrowing (+) / repaid (−)−$7.8MOther investing−$585KOther financing−$46K
BeOne Medicines: sources (+) and uses (−) of cash, TTM to Q3 2026BeOne Medicines: sources (+) and uses (−) of cash, TTM to Q3 2026Cash drawn (+) / kept (−)−$1.8BOperating cash flow$1.6BOther financing$843MNet borrowing (+) / repaid (−)−$746MShares issued$164MCapital spending−$141MExchange rates$72.8MOther investing−$28.0M

From profit to cash

BeOne Medicines: net income to operating cash flow, Q3 2026BeOne Medicines: net income to operating cash flow, Q3 2026Net income$385MDepreciation & amortization$60.9MStock-based pay$132MReceivables−$34.9MInventory−$66.4MPayables$25.4MPrepaid and other assets−$10.6MOther liabilities$11.4MOperating cash flow$509M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$509M−$35.2M−$7.8M$110M−$586M$474M
Q2 2026$463M−$27.5M−$17.1M$11.0M−$427M$435M
Q1 2026$201M−$40.8M$50.6M$23.9M−$244M$161M
Q4 2025$417M−$37.5M$79.1M$19.2M−$499M$380M
Q3 2025$403M−$48.1M−$4.3M$80.5M−$1.3B$354M
Q2 2025$264M−$43.8M$26.1M$33.1M−$255M$220M
Q1 2025$44.1M−$56.4M−$97.1M$63.4M$108M−$12.3M
Q4 2024$75.2M−$92.5M−$13.3M$8.8M$74.7M−$17.3M

BeOne Medicines: income statement and cash flow

BeOne Medicines, Q3 2026: revenue $1.9B (+34% year over year), operating margin 22.2%. The chart follows the revenue to costs, profit and cash.

BeOne Medicines: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.