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Innovent Biologics, or Innovent, is one of the leading biotechnology companies in China. Listed on the Hong Kong Exchange in 2018, Innovent has 12 commercialized oncology products and three commercialized nononcology products as of March 2025. Its core asset is Tyvyt, a PD-1 inhibitor included in the National Reimbursement Drug Lists for the first-line treatment of five major cancers. Innovent has over 30 strategic collaborations with global pharmaceutical or biotech companies, such as Eli Lilly, Roche Group, Incyte, and others. It also has a wide spectrum of therapeutic targets in early clinical developments. Among its upcoming pipelines, the potential blockbuster is Mazdutide, a therapy for obesity and type 2 diabetes.
2011
4.9K+
LTM Revenue $1.5B
LTM EBITDA $28.5M
$10.7B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Innovent Biologics has a last 12-month revenue of $1.5B and a last 12-month EBITDA of $28.5M.
In the most recent fiscal year, Innovent Biologics achieved revenue of $800M and an EBITDA of -$85.2M.
Innovent Biologics expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Innovent Biologics valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $587M | $800M | XXX | XXX | XXX |
| Gross Profit | $476M | $467M | XXX | XXX | XXX |
| Gross Margin | 81% | 58% | XXX | XXX | XXX |
| EBITDA | -$225M | -$85.2M | XXX | XXX | XXX |
| EBITDA Margin | -38% | -11% | XXX | XXX | XXX |
| Net Profit | -$404M | -$281M | XXX | XXX | XXX |
| Net Margin | -69% | -35% | XXX | XXX | XXX |
| Net Debt | $133M | $269M | XXX | XXX | XXX |
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As of April 25, 2025, Innovent Biologics's stock price is HKD 54 (or $7).
Innovent Biologics has current market cap of HKD 88.5B (or $11.4B), and EV of HKD 83.1B (or $10.7B).
See Innovent Biologics trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $10.7B | $11.4B | XXX | XXX | XXX | XXX | $0.00 |
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Sign UpAs of April 25, 2025, Innovent Biologics has market cap of $11.4B and EV of $10.7B.
Innovent Biologics's trades at 7.7x LTM EV/Revenue multiple, and 400.7x LTM EBITDA.
Analysts estimate Innovent Biologics's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Innovent Biologics and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $10.7B | XXX | XXX | XXX |
| EV/Revenue | 13.4x | XXX | XXX | XXX |
| EV/EBITDA | -125.8x | XXX | XXX | XXX |
| P/E | -86.1x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | -67.3x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpInnovent Biologics's NTM/LTM revenue growth is 23%
Innovent Biologics's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $0.2M for the same period.
Over next 12 months, Innovent Biologics's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Innovent Biologics's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Innovent Biologics and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 36% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -11% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -62% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 12% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.2M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.2M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 50% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 12% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 36% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 96% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Julphar | XXX | XXX | XXX | XXX | XXX | XXX |
| Benevolent AI | 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 |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Innovent Biologics acquired XXX companies to date.
Last acquisition by Innovent Biologics was XXXXXXXX, XXXXX XXXXX XXXXXX . Innovent Biologics acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| 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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Sign Up| When was Innovent Biologics founded? | Innovent Biologics was founded in 2011. |
| Where is Innovent Biologics headquartered? | Innovent Biologics is headquartered in Hong Kong. |
| How many employees does Innovent Biologics have? | As of today, Innovent Biologics has 4.9K+ employees. |
| Who is the CEO of Innovent Biologics? | Innovent Biologics's CEO is Dr. De-Chao Michael Yu. |
| Is Innovent Biologics publicy listed? | Yes, Innovent Biologics is a public company listed on HKG. |
| What is the stock symbol of Innovent Biologics? | Innovent Biologics trades under 01801 ticker. |
| When did Innovent Biologics go public? | Innovent Biologics went public in 2018. |
| Who are competitors of Innovent Biologics? | Similar companies to Innovent Biologics include e.g. Julphar, Benevolent AI, Galapagos, Pharming. |
| What is the current market cap of Innovent Biologics? | Innovent Biologics's current market cap is $11.4B |
| What is the current revenue of Innovent Biologics? | Innovent Biologics's last 12-month revenue is $1.5B. |
| What is the current EBITDA of Innovent Biologics? | Innovent Biologics's last 12-month EBITDA is $28.5M. |
| What is the current EV/Revenue multiple of Innovent Biologics? | Current revenue multiple of Innovent Biologics is 7.7x. |
| What is the current EV/EBITDA multiple of Innovent Biologics? | Current EBITDA multiple of Innovent Biologics is 400.7x. |
| What is the current revenue growth of Innovent Biologics? | Innovent Biologics revenue growth between 2023 and 2024 was 36%. |
| Is Innovent Biologics profitable? | Yes, Innovent Biologics is EBITDA-positive (as of the last 12 months). |
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