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China's largest contract research and manufacturing organization, running drug discovery, testing and manufacturing for global pharma.
China's largest contract research and manufacturing organization, running drug discovery, testing and manufacturing for global pharma.
Is paid by drugmakers for work on their projects, starting with discovery chemistry and testing and moving into process development and manufacturing as a drug advances, so it can earn from the same molecule for years. Most customers are outside China, mainly in the US. It sold its US and UK cell and gene therapy units in 2025.
In one line: China's Charles River Labs/Catalent combined.
Moat: narrow (scale, switching costs, installed base). Deep integration into customers' drug-development pipelines makes switching CROs costly mid-program.
Headquarters: Shanghai, China · Founded: 2000 · Employees: 33,834
Size WuXi AppTec (603259.SS) is a China Health Care company (Pharmaceuticals: Major) with a market value of $67.0B, the 27th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥147.00 on 6 Nov 2026.
Performance Over six months the shares gained 34.2%, against +15.8% for the median peer and -16.4% for the China market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 31.9% over the last twelve months (peer median +8.6%); the operating margin is 42.8% (peer median 23.2%).
Valuation It trades at 18.1× forward earnings against a peer median of 17.2× (10th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +22%, so the hurdle is -14 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 30.6 points above its cost of capital (8.7% WACC).
Next results Next results expected around 22 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥58.5B | CN¥45.2B | CN¥39.0B | CN¥40.0B | CN¥39.2B |
| Revenue growth | — | +16% | -2% | +2% | — |
| Gross profit | CN¥34.0B | CN¥21.1B | CN¥15.8B | CN¥16.0B | CN¥14.2B |
| EBITDA | n/a | CN¥19.5B | CN¥13.7B | CN¥13.5B | CN¥10.9B |
| Net income | CN¥26.5B | CN¥19.2B | CN¥9.45B | CN¥9.61B | CN¥8.81B |
| Free cash flow | CN¥16.3B | CN¥12.1B | CN¥8.68B | CN¥8.05B | CN¥729M |
| Capital expenditure | CN¥7.05B | CN¥5.54B | CN¥4.00B | CN¥5.52B | CN¥9.97B |
| Total debt | CN¥8.53B | CN¥8.42B | CN¥8.52B | CN¥5.76B | CN¥6.01B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| WuXi AppTec 603259.SS | $67.0B | +34% | +32% | 43% | 18.1× | 7.8% |
| Wuxi Bio 2269.HK | $25.0B | +43% | +22% | 32% | 28.7× | 21.8% |
| Charles River Laboratories CRL | $16.1B | +90% | -1% | 15% | 26.6× | 25.3% |
| Lonza LONN.SW | $55.4B | +39% | -11% | 25% | 36.1× | 15.0% |
| Samsung Biologics 207940.KS | $53.7B | +3% | -20% | 43% | 38.7× | 9.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 603259.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.3% | +10.4% | lowest of 21 |
| 6-month return | +34.2% | +15.8% | 2nd highest of 21 |
| Distance from 52-week high | -15.3% | -9.0% | 7th lowest of 21 |
| Revenue growth (TTM) | +31.9% | +8.6% | highest of 21 |
| Operating margin | 42.8% | 23.2% | 3rd highest of 21 |
| Forward P/E | 18.1× | 17.2× | 10th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 7.8% | 5.3% | 8th most demanding of 21 |
| Growth delivered (Del g) | +22.3% | +5.1% | 2nd highest of 21 |
| Hurdle (Req g minus delivered) | -14.5 pp | -2.0 pp | 3rd least demanding of 21 |
| ROIC minus cost of capital | +30.6 pp | +4.9 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| WuXi AppTec 603259.SS | China | $67.0B | +34% | +32% | 43% | 18.1× | 7.8% | +22.3% |
| Takeda Pharmaceutical 4502.T | Japan | $66.4B | +24% | +6% | 18% | 42.1× | 3.0% | +7.1% |
| Chugai Pharmaceutical 4519.T | Japan | $71.0B | -15% | +17% | 50% | 22.1× | 3.6% | +9.8% |
| Merck KGaA MRK.DE | Germany | $72.5B | +23% | 0% | 20% | 17.5× | 7.7% | +3.8% |
| Bayer BAYN.DE | Germany | $61.2B | +46% | -2% | 14% | 12.3× | 2.1% | +1.9% |
| Galderma GALD.SW | Switzerland | $54.8B | +17% | +16% | 19% | 48.1× | 18.4% | +6.4% |
| Jiangsu Hengrui Pharmaceuticals 600276.SS | China | $49.7B | -6% | +6% | 27% | 36.4× | 14.9% | +2.7% |
| Regeneron Pharmaceuticals REGN | United States | $93.5B | +27% | +19% | 30% | 11.3× | -2.2% | +11.0% |
| Sun Pharmaceutical Industries SUNPHARMA.NS | India | $47.3B | +1% | +12% | 23% | 35.4× | 28.4% | +11.7% |
| BeOne Medicines 688235.SS | China | $45.8B | +19% | +28% | 15% | 74.5× | 23.3% | +79.3% |
| Sandoz SDZ.SW | Switzerland | $44.4B | +24% | +1% | 15% | 25.3× | 7.9% | +0.4% |
| GSK GSK.L | United Kingdom | $102B | 0% | +4% | 25% | 10.6× | -0.1% | -0.9% |
| Haleon HLN.L | United Kingdom | $40.1B | +1% | +1% | 23% | 16.3× | 4.6% | +2.2% |
| Sanofi SAN.PA | France | $113B | +14% | +15% | 27% | 9.6× | -5.4% | +3.9% |
| Royalty Pharma RPRX | United States | $38.8B | +33% | +11% | 66% | 11.3× | 9.9% | +2.3% |
| Otsuka Hldgs 4578.T | Japan | $38.6B | +2% | +11% | 18% | 16.3× | 0.4% | +11.7% |
| Biogen BIIB | United States | $36.7B | +28% | +2% | 17% | 16.8× | 9.4% | -5.1% |
| Bristol Myers Squibb BMY | United States | $127B | +12% | +4% | 33% | 9.7× | -12.9% | +2.5% |
| Zoetis ZTS | United States | $32.8B | -4% | +1% | 38% | 12.8× | -4.3% | +7.2% |
| Vertex Pharmaceuticals VRTX | United States | $139B | +27% | +11% | 35% | 29.0× | 6.1% | +14.2% |
| Daiichi Sankyo 4568.T | Japan | $31.9B | +7% | +17% | 13% | 18.6× | 7.2% | +17.1% |