2 models fit BeOne Medicines Ltd. American Depositary Shares and they disagree: 0 of 2 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Large premium(i)Bronze42
Valued as a growth company: Discounted cash flow, P/E comparison, and EV/EBITDA comparison.
ACCE opinionBeOne Medicines Ltd. American Depositary Shares (ONC)
Fair value (2 models)
$152
ACCE price target
$362
Rating
Overvalued
Horizon
12 months
Fair value published on 20 Oct 2026, 16:04 CEST; previously $177 since 16 Oct 2026, 00:00 CEST.
ACCE price target published on 21 Sept 2026, 00:00 CEST.
Rating published on 20 Oct 2026, 16:04 CEST.
Price used: $378 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
148.4% above
-59.7% to fair value
ACCE score
69
out of 100
Analysts
96% buy
27 covering
P/E
69.1x
forward 35.2x
1-year return
+21.8%
Dividend yield
0.00%
BeOne Medicines Ltd. American Depositary Shares in four questions
Plain answers, details below
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Overview
ACCE thesis
BeOne Medicines (ONC) is a Swiss-domiciled oncology company selling BRUKINSA, a BTK inhibitor for blood cancers, and developing a pipeline of targeted and immuno-oncology candidates. The moat rests on that franchise: an 88.9% gross margin shows how much of each dollar is pure pricing power once a drug is on the market. Revenue growth of 29.6% is the number to underwrite, since it signals BRUKINSA is still gaining share and new indications and geographies are feeding through. A 19.1% operating margin says the company is now earning real operating profit rather than only booking sales, though a trailing P/E of 62.7 against a forward P/E of 34.2 means the market is already pricing in a sharp earnings ramp. At a 39.9B USD market cap and 14.7% ROE, the case for a deeper look depends on whether margin expansion and pipeline readouts can close that gap.