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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
5.7K+
LTM Revenue $1.6B
LTM EBITDA $66.9M
$15.7B
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Innovent Biologics has a last 12-month revenue (LTM) of $1.6B and a last 12-month EBITDA of $66.9M.
In the most recent fiscal year, Innovent Biologics achieved revenue of $1.2B and an EBITDA of $52.1M.
Innovent Biologics expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Innovent Biologics valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $1.6B | XXX | $1.2B | XXX | XXX | XXX |
| Gross Profit | $1.3B | XXX | $1.0B | XXX | XXX | XXX |
| Gross Margin | 84% | XXX | 84% | XXX | XXX | XXX |
| EBITDA | $66.9M | XXX | $52.1M | XXX | XXX | XXX |
| EBITDA Margin | 4% | XXX | 4% | XXX | XXX | XXX |
| EBIT | -$9.1M | XXX | $32.9M | XXX | XXX | XXX |
| EBIT Margin | -1% | XXX | 3% | XXX | XXX | XXX |
| Net Profit | $24.3M | XXX | -$12.1M | XXX | XXX | XXX |
| Net Margin | 2% | XXX | -1% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
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As of July 1, 2025, Innovent Biologics's stock price is HKD 78 (or $10).
Innovent Biologics has current market cap of HKD 128B (or $16.4B), and EV of HKD 123B (or $15.7B).
See Innovent Biologics trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $15.7B | $16.4B | XXX | XXX | XXX | XXX | $0.01 |
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Start Free TrialAs of July 1, 2025, Innovent Biologics has market cap of $16.4B and EV of $15.7B.
Innovent Biologics's trades at 13.0x EV/Revenue multiple, and 300.6x EV/EBITDA.
Equity research analysts estimate Innovent Biologics's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Innovent Biologics has a P/E ratio of 738.3x.
See valuation multiples for Innovent Biologics and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $16.4B | XXX | $16.4B | XXX | XXX | XXX |
| EV (current) | $15.7B | XXX | $15.7B | XXX | XXX | XXX |
| EV/Revenue | 10.7x | XXX | 13.0x | XXX | XXX | XXX |
| EV/EBITDA | 256.2x | XXX | 300.6x | XXX | XXX | XXX |
| EV/EBIT | -1891.1x | XXX | 476.1x | XXX | XXX | XXX |
| EV/Gross Profit | 12.7x | XXX | n/a | XXX | XXX | XXX |
| P/E | 738.3x | XXX | -1357.2x | XXX | XXX | XXX |
| EV/FCF | 154.8x | XXX | -293.8x | 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.
Start Free TrialInnovent Biologics's last 12 month revenue growth is 26%
Innovent Biologics's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.2M for the same period.
Innovent Biologics's rule of 40 is 15% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Innovent Biologics's rule of X is 68% (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).
See operational valuation multiples for Innovent Biologics and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 26% | XXX | 30% | XXX | XXX | XXX |
| EBITDA Margin | 4% | XXX | 4% | XXX | XXX | XXX |
| EBITDA Growth | 223% | XXX | n/a | XXX | XXX | XXX |
| Rule of 40 | 15% | XXX | 30% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 68% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 46% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 28% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 81% | XXX | XXX | XXX |
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| 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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Start Free Trial| 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 5.7K+ 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 $16.4B |
| What is the current revenue of Innovent Biologics? | Innovent Biologics's last 12 months revenue is $1.6B. |
| What is the current revenue growth of Innovent Biologics? | Innovent Biologics revenue growth (NTM/LTM) is 26%. |
| What is the current EV/Revenue multiple of Innovent Biologics? | Current revenue multiple of Innovent Biologics is 10.7x. |
| Is Innovent Biologics profitable? | Yes, Innovent Biologics is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Innovent Biologics? | Innovent Biologics's last 12 months EBITDA is $66.9M. |
| What is Innovent Biologics's EBITDA margin? | Innovent Biologics's last 12 months EBITDA margin is 4%. |
| What is the current EV/EBITDA multiple of Innovent Biologics? | Current EBITDA multiple of Innovent Biologics is 256.2x. |
| What is the current FCF of Innovent Biologics? | Innovent Biologics's last 12 months FCF is $111M. |
| What is Innovent Biologics's FCF margin? | Innovent Biologics's last 12 months FCF margin is 7%. |
| What is the current EV/FCF multiple of Innovent Biologics? | Current FCF multiple of Innovent Biologics is 154.8x. |
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