Pharmaron Beijing Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021
Operating Revenue	14,553	14,073	12,269	11,533	10,240	7,419
Other Revenue	21.9	21.9	6.4	4.61	26.19	24.48
Revenue	14,575	14,095	12,276	11,538	10,266	7,444
Revenue Growth (YoY)	14.73%	14.82%	6.39%	12.39%	37.92%	45.00%
Cost of Revenue	9,564	9,205	8,091	7,422	6,502	4,768
Gross Profit	5,010	4,890	4,184	4,116	3,764	2,676
Selling, General & Admin	2,097	2,043	1,843	1,859	1,728	1,022
Research & Development	593.58	576.02	469.26	448.28	282.32	151.77
Other Operating Expenses	166.31	145.95	109.7	82.75	66.52	44.04
Operating Expenses	2,937	2,845	2,465	2,426	2,098	1,229
Operating Income	2,073	2,045	1,719	1,690	1,667	1,448
Interest Expense	-200.49	-192.81	-243.72	-182.19	-167.31	-83.07
Interest & Investment Income	67.43	39.39	615.7	78.95	109.74	371.99
Currency Exchange Gain (Loss)	2.65	2.65	31.43	147	-42.39	-3.16
Other Non Operating Income (Expenses)	-44.29	-5.32	-4.22	-3.61	-2.54	-1.39
EBT Excluding Unusual Items	1,898	1,889	2,118	1,730	1,564	1,732
Impairment of Goodwill	-	-	-73.54	-	-	-
Gain (Loss) on Sale of Investments	-16.72	-35.97	1.54	18.75	68.09	119.59
Gain (Loss) on Sale of Assets	-18.56	-20	-33.67	-9.15	-15.3	-4.25
Asset Writedown	2.6	-	-	-	-	-
Other Unusual Items	96.32	79.37	78.51	98.48	49.5	63.73
Pretax Income	1,962	1,913	2,091	1,838	1,666	1,911
Income Tax Expense	375.94	357.52	377.1	256.11	314.25	290.92
Earnings From Continuing Operations	1,586	1,555	1,714	1,582	1,352	1,620
Minority Interest in Earnings	107.74	108.71	79.19	19.32	22.47	40.95
Net Income	1,694	1,664	1,793	1,601	1,375	1,661
Net Income to Common	1,694	1,664	1,793	1,601	1,375	1,661
Net Income Growth	-9.35%	-7.22%	12.01%	16.48%	-17.24%	41.68%
Shares Outstanding (Basic)	1,773	1,762	1,770	1,772	1,774	1,781
Shares Outstanding (Diluted)	1,784	1,771	1,773	1,775	1,776	1,820
Shares Change (YoY)	0.78%	-0.11%	-0.11%	-0.05%	-2.40%	1.97%
EPS (Basic)	0.96	0.94	1.01	0.90	0.78	0.93
EPS (Diluted)	0.95	0.94	1.01	0.90	0.77	0.91
EPS Growth	-10.05%	-7.12%	12.13%	16.54%	-15.21%	38.94%
Free Cash Flow	280.16	551.97	536.02	-111.78	-807.04	-34.78
Free Cash Flow Per Share	0.16	0.31	0.30	-0.06	-0.45	-0.02
Dividend Per Share	0.200	0.200	0.200	0.200	0.200	0.200
Dividend Growth	-	-	-	-	-	50.04%
Gross Margin	34.38%	34.70%	34.09%	35.67%	36.67%	35.95%
Operating Margin	14.22%	14.51%	14.01%	14.64%	16.23%	19.45%
Profit Margin	11.62%	11.80%	14.61%	13.88%	13.39%	22.31%
Free Cash Flow Margin	1.92%	3.92%	4.37%	-0.97%	-7.86%	-0.47%
EBITDA	3,112	3,052	2,597	2,431	2,227	1,852
EBITDA Margin	21.35%	21.65%	21.16%	21.07%	21.70%	24.88%
D&A For EBITDA	1,039	1,007	878.18	741.2	560.76	404.64
EBIT	2,073	2,045	1,719	1,690	1,667	1,448
EBIT Margin	14.22%	14.51%	14.01%	14.64%	16.23%	19.45%
Effective Tax Rate	19.16%	18.69%	18.03%	13.94%	18.86%	15.22%
Revenue as Reported	14,575	14,095	12,276	11,538	10,266	7,444

Source: S&P Global Market Intelligence. Standard template. Financial Sources.