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HBM Holdings Valuation Multiples

Discover revenue and EBITDA valuation multiples for HBM Holdings and similar public comparables like Armata Pharmaceuticals, Vivoryon Therapeutics, and Julphar.

HBM Holdings Overview

About HBM Holdings

HBM Holdings Ltd is a clinical-stage biopharmaceutical company engaged in the discovery and development of differentiated antibody therapeutics in immunology and oncology disease areas. Its products under development are Batoclimab, for the treatment of a wide spectrum of autoimmune diseases; Tanfanercept, for the treatment of moderate-to-severe dry eye disease (DED); HBM4003; HBM9378, to prevent and treat COVID-19, the pandemic respiratory disease caused by the SARS-CoV-2 virus; HBM7008; and others. Its geographical segments are Mainland China, United States, Europe, and others. The majority of the revenue for the firm is generated from the United States.


Founded

2016

HQ

Hong Kong
Employees

177

Financials

Last FY Revenue $4.9M

Last FY EBITDA $1.3M

EV

$1.3B

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HBM Holdings Financials

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HBM Holdings P&L

In the most recent fiscal year, HBM Holdings reported revenue of $4.9M and EBITDA of $1.3M.

HBM Holdings expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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NTM Last FY FY 2026 FY 2027 FY 2028
Revenue XXX $4.9M XXX XXX XXX
Gross Profit XXX $4.3M XXX XXX XXX
Gross Margin XXX 88% XXX XXX XXX
EBITDA XXX $1.3M XXX XXX XXX
EBITDA Margin XXX 27% XXX XXX XXX
EBIT XXX -$0.3M XXX XXX XXX
EBIT Margin XXX -6% XXX XXX XXX
Net Profit XXX $0.4M XXX XXX XXX
Net Margin XXX 7% XXX XXX XXX
Net Debt XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

HBM Holdings Stock Performance

HBM Holdings has current market cap of HKD 12.0B (or $1.5B), and EV of HKD 10.0B (or $1.3B).

Market Cap Evolution

HBM Holdings Stock Data

As of January 16, 2026, HBM Holdings's stock price is HKD 14 (or $2).

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EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$1.3B $1.5B XXX XXX XXX XXX n/a

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HBM Holdings Valuation Multiples

HBM Holdings's trades at 263.0x EV/Revenue multiple, and 989.1x EV/EBITDA.

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HBM Holdings Financial Valuation Multiples

As of January 16, 2026, HBM Holdings has market cap of $1.5B and EV of $1.3B.

Equity research analysts estimate HBM Holdings's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

HBM Holdings's P/E ratio is not available.

LTM NTM Last FY FY 2026 FY 2027 FY 2028
Market cap (current) $1.5B XXX $1.5B XXX XXX XXX
EV (current) $1.3B XXX $1.3B XXX XXX XXX
EV/Revenue n/a XXX 263.0x XXX XXX XXX
EV/EBITDA n/a XXX 989.1x XXX XXX XXX
EV/EBIT n/a XXX -4585.4x XXX XXX XXX
EV/Gross Profit n/a XXX n/a XXX XXX XXX
P/E n/a XXX 4325.2x XXX XXX XXX
EV/FCF n/a XXX 329.1x XXX XXX XXX

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HBM Holdings Margins & Growth Rates

HBM Holdings's revenue per employee in the last FY averaged $28K, while opex per employee averaged $26K for the same period.

HBM Holdings's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

HBM Holdings's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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HBM Holdings Operational Valuation Multiples

LTM NTM Last FY FY 2026 FY 2027 FY 2028
Revenue Growth n/a XXX n/a XXX XXX XXX
EBITDA Margin n/a XXX n/a XXX XXX XXX
EBITDA Growth n/a XXX n/a XXX XXX XXX
Rule of 40 n/a XXX n/a XXX XXX XXX
Bessemer Rule of X XXX XXX n/a XXX XXX XXX
Revenue per Employee XXX XXX $28K XXX XXX XXX
Opex per Employee XXX XXX $26K XXX XXX XXX
S&M Expenses to Revenue XXX XXX 7% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 55% XXX XXX XXX
Opex to Revenue XXX XXX 94% XXX XXX XXX

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HBM Holdings Public Comps

See public comps and valuation multiples for Drug Development & Therapeutics and Vaccines & Immunotherapies comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Julphar XXX XXX XXX XXX XXX XXX
Galapagos XXX XXX XXX XXX XXX XXX
Pharming XXX XXX XXX XXX XXX XXX
Vivoryon Therapeutics XXX XXX XXX XXX XXX XXX
Armata Pharmaceuticals XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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HBM Holdings M&A and Investment Activity

HBM Holdings acquired  XXX companies to date.

Last acquisition by HBM Holdings was  XXXXXXXX, XXXXX XXXXX XXXXXX . HBM Holdings acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by HBM Holdings

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About HBM Holdings

When was HBM Holdings founded? HBM Holdings was founded in 2016.
Where is HBM Holdings headquartered? HBM Holdings is headquartered in Hong Kong.
How many employees does HBM Holdings have? As of today, HBM Holdings has 177 employees.
Who is the CEO of HBM Holdings? HBM Holdings's CEO is Dr. Jingsong Wang.
Is HBM Holdings publicy listed? Yes, HBM Holdings is a public company listed on HKG.
What is the stock symbol of HBM Holdings? HBM Holdings trades under 02142 ticker.
When did HBM Holdings go public? HBM Holdings went public in 2020.
Who are competitors of HBM Holdings? Similar companies to HBM Holdings include e.g. Julphar, Galapagos, Pharming, Vivoryon Therapeutics.
What is the current market cap of HBM Holdings? HBM Holdings's current market cap is $1.5B
Is HBM Holdings profitable? Yes, HBM Holdings is EBITDA-positive (as of the last 12 months).

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