Does BEONE MEDICINES LTD. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores BEONE MEDICINES LTD. (BEIGF) 54.2 out of 100 — a Shallow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 80, pricing power 94, returns on capital 4, balance-sheet safety 69, capital allocation 24.

How has BEIGF's Moat Score changed over time?

The record logs 1 reading since Sep 4, 2026; the latest reads 54.2 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

BEONE MEDICINES LTD.

BEIGF · Healthcare · FY2025 filings · as of Sep 4, 2026 · Shallow moat ·

Doesn't clear the bar

Shallow moat

The five investor questions

2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $1.2B to $5.3B, increasing; diluted EPS -1.21 to 0.19, increasing.

Median gross margin 85.0% over 10y, stable.

Median ROIC -43.4%, above the 12% hurdle in 10% of years.

Net cash position — no leverage risk.

Owner earnings changed trend unclear over up to the ten most recent annual observations.

Price vs. value if growth stopped today

A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.

Above value if growth stopped todayBelow value if growth stopped today

No price data

: Not reported
: Unavailable — insufficient owner-earnings data
: Unavailable — insufficient growth-model data
: Unavailable — no recent price
: No price data

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.

Among the current top-score group, the median current price is 238% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Sep 4, 2026.

Exactly which 50 companies?

FTNT, META, MEDP, IBEX, MSFT, GOOG, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, VEEV, RMD, GRMN, PCTY, EAT, UI, SSD, MNST, DOCS, LRCX, MCO, CPRT, NTAP, NVDA, CORT, SFM, MPTI, ULTA, SN, ROL, CTAS, PAYC, IRMD, INTU, DECK, MORN, JKHY, TPR, LGCY, DAL, GWW, ISRG, MPWR, LOPE

Missing a usable price or zero-growth estimate: ANF.

Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.

13 years of fundamentals

The business, in plain English

BEONE MEDICINES LTD. booked $5.3B of revenue in FY2025 in the Healthcare sector and kept 87.5% of it as gross profit — a high-margin business by that measure. After every other cost, 5.4% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $13M (FY2014) to $5.3B (FY2025) — about 72.8% a year compounded over 11 years.

It earned 36.6% on invested capital in the latest filed year, FY2025. Across the full 10-year measurable filed record, median ROIC was −43.4%. Over the v3 recent window (10 measurable filed years), median ROIC was −43.4%. The Returns on Capital filter above scores it 4/100.

The balance sheet carried $1.0B of total debt in FY2025 against $287M of owner earnings — roughly 3.6 years of owner earnings to retire it all. Balance-Sheet Safety scores it 69/100.

Put together: Pricing Power is the strongest of the five filters (94/100) and Returns on Capital the weakest (4/100), which is how BEIGF lands at 54/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

Sales, as filed$5.3B FY2025

Revenue kept after cost of goods87.5% FY2025

Standard ROIC or separately labeled Operating ROICStandard ROIC 24.0% FY2025

Exact FY and FY-1 financing invested-capital inputs are required.

Cash an owner could take out$287M FY2025

The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Flagship explainer

How BEONE MEDICINES LTD. makes its money

BEONE MEDICINES LTD.'s filing does not supply enough comparable lines for a truthful flow chart — here's what is filed:

Table alternative
Filed line	Value	% of revenue	Source
	$5.3B	100%	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
	$4.7B	87%	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
	$447M	8%	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
Income before tax	$417M	8%	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
Income tax	$130M	2%	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
	$287M	5%	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026

Source:

10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026

· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

Flagship explainer

What BEONE MEDICINES LTD. owns — and owes

BEONE MEDICINES LTD.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed line	Value	% of assets	Source
Total assets	$8.2B	100%	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
Cash and equivalents	$4.5B	56%	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
	$1.0B	13%	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
Stockholders’ equity	$4.4B	53%	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026

Source:

10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026

· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

Flagship explainer

What drives BEONE MEDICINES LTD.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont source inputs
Input	Value	Fiscal year	Source
	$287M	FY2025	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
Income before tax	$417M	FY2025	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
Operating income	$447M	FY2025	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
	$5.3B	FY2025	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
Ending assets	$8.2B	FY2025	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
Beginning assets	$5.9B	FY2024	10-K · FY 2024Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
	$4.4B	FY2025	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
	$3.3B	FY2024	10-K · FY 2024Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026

Source:

10-K · filed Feb 26, 2026Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026

· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

Embed this chart

Flagship explainer

Where BEONE MEDICINES LTD.'s cash went

BEONE MEDICINES LTD.’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed line	Value	% of cash from operations	Source
Cash from operations	$1.1B	100%	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026
Depreciation and amortization	$142M	13%	10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026

Source:

10-K · FY 2025Filing detailsAccession 0001628280-26-011946 · filed Feb 26, 2026

· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding BEONE MEDICINES LTD.

Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.

0 holding0 exited0 not holding0/19 resolved19 not retrieved

Named manager positions and quarter-over-quarter changes
Manager	Reported position	Quarter-over-quarter	Filing accession
Abrams Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Akre Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Baupost Group	Not retrieved	Comparison not retrieved	Filing not retrieved
Berkshire Hathaway	Not retrieved	Comparison not retrieved	Filing not retrieved
Brave Warrior Advisors	Not retrieved	Comparison not retrieved	Filing not retrieved
Dodge & Cox	Not retrieved	Comparison not retrieved	Filing not retrieved
First Eagle	Not retrieved	Comparison not retrieved	Filing not retrieved
Fundsmith	Not retrieved	Comparison not retrieved	Filing not retrieved
Gardner Russo & Quinn	Not retrieved	Comparison not retrieved	Filing not retrieved
Gates Foundation Trust	Not retrieved	Comparison not retrieved	Filing not retrieved
Mairs & Power	Not retrieved	Comparison not retrieved	Filing not retrieved
Markel / Markel-Gayner	Not retrieved	Comparison not retrieved	Filing not retrieved
Oakmark / Harris Associates	Not retrieved	Comparison not retrieved	Filing not retrieved
Pershing Square	Not retrieved	Comparison not retrieved	Filing not retrieved
Polen Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Sequoia / Ruane Cunniff	Not retrieved	Comparison not retrieved	Filing not retrieved
Southeastern Asset Management	Not retrieved	Comparison not retrieved	Filing not retrieved
Tweedy, Browne	Not retrieved	Comparison not retrieved	Filing not retrieved
Yacktman Asset Management	Not retrieved	Comparison not retrieved	Filing not retrieved

Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.

Source: Filing source not retrieved · event Jun 30, 2026 · retrieved Sep 4, 2026

Flagship explainer

What BEONE MEDICINES LTD. insiders reported

We could not retrieve insider activity for this rendering; no zero-activity claim is shown.

Unavailable: Form 4 activity could not be retrieved for this rendering.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale54.2 / 100

Score history begins Sep 4, 2026 — the record builds forward from here.

Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars

None yet — BEIGF has read Shallow moat for every logged capture since Sep 4, 2026.

Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

The insider-filing service is temporarily unavailable, so no partial or guessed answer is shown for BEIGF.

Healthcare context

#147 of 708 scored Healthcare companies, ranked by Moat Score.

Nearest peers by Moat Score

#145JRSS JRSIS HEALTH CARE CORPORATION54.9 out of 100, Shallow moatShallow moat
#146IRWD IRONWOOD PHARMACEUTICALS, INC.54.6 out of 100, Shallow moatShallow moat
#148TRMB TRIMBLE INC.54.0 out of 100, Shallow moatShallow moat
#149TMO THERMO FISHER SCIENTIFIC INC.53.9 out of 100, Shallow moatShallow moat

Compare BEIGF with its nearest peers →All Healthcare companies on the Index →

Common questions about BEIGF

Does BEONE MEDICINES LTD. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores BEONE MEDICINES LTD. (BEIGF) 54.2 out of 100 — a Shallow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 80, pricing power 94, returns on capital 4, balance-sheet safety 69, capital allocation 24.
How has BEIGF's Moat Score changed over time?: The record logs 1 reading since Sep 4, 2026; the latest reads 54.2 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell BEIGF. See the disclaimer.