Saturday 17 October 2026
Export ZLAB’s income statement to Excel — free account
Zai Lab Limited Unsponsored ADR
ZLAB Healthcare Biotechnology
Zai Lab Limited Unsponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $460.2 million, up 15.3% from fiscal 2024. In the quarter to June 2026, revenue fell 3.33%, EPS fell 24.3%, free cash flow fell 84.4% and total debt rose 36.4%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.
23.25
0.26
−1.11%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
— | — | — | — | 5 | 3 | 6 | 4 | 4 | 4 |
P/E ratio |
— | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z-Score |
— | — | 12.57 | 23.78 | 48.69 | 13.64 | 8.03 | 3.57 | 1.92 | (0.24) |
P/S ratio |
— | — | 0.00 | 292.51 | 183.76 | 40.50 | 13.74 | 9.44 | 6.50 | 4.20 |
Altman Z″-Score (non-manufacturers) |
— | — | 4.12 | 1.73 | 11.87 | 5.84 | 4.38 | (1.14) | (1.63) | (3.61) |
P/FCF ratio |
— | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Beneish M-Score |
— | — | — | 86.70 | (0.76) | 0.65 | (2.75) | (2.78) | (2.00) | (2.35) |
P/Operating CF |
— | — | 0.00 | (96.08) | (237.09) | (38.20) | (27.03) | (168.83) | (46.47) | (74.25) |
P/B ratio |
— | — | 0.00 | 13.05 | 8.99 | 4.24 | 2.83 | 3.16 | 3.08 | 2.70 |
Price to Tangible BV |
— | — | 0.00 | 13.45 | 9.06 | 4.27 | 2.85 | 3.23 | 3.31 | 3.04 |
EV/Sales |
— | — | 0.00 | 272.01 | 163.10 | 30.78 | 9.08 | 6.44 | 4.62 | 2.93 |
EV/EBITDA |
— | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
— | — | 1.44 | (11.14) | (43.18) | (8.09) | (5.31) | (8.67) | (8.58) | (8.93) |
EV/FCF |
— | — | 1.27 | (10.33) | (41.15) | (7.82) | (4.97) | (8.92) | (6.67) | (8.21) |
Quick Ratio |
16.23 | 19.03 | 5.39 | 6.00 | 12.16 | 7.55 | 7.50 | 4.26 | 3.22 | 2.15 |
Current Ratio |
16.25 | 19.11 | 5.51 | 6.27 | 12.40 | 7.78 | 8.04 | 4.63 | 3.51 | 2.45 |
Net Debt/EBITDA |
2.19 | 4.51 | 1.85 | 1.35 | 3.97 | 2.02 | 2.51 | 2.23 | 2.73 | 2.66 |
Debt/Assets |
0.00% | 0.00% | 1.21% | 1.82% | 0.40% | 0.37% | 0.58% | 0.00% | 11.11% | 17.45% |
Debt/Equity |
0.00 | 0.00 | 0.01 | 0.02 | 0.00 | 0.00 | 0.01 | 0.00 | 0.16 | 0.29 |
Asset Turnover |
0.00 | 0.00 | 0.00 | 0.04 | 0.06 | 0.10 | 0.15 | 0.24 | 0.36 | 0.39 |
Operating CF/Net income |
0.86 | 0.64 | 0.70 | 0.98 | 0.80 | 0.78 | 0.83 | 0.59 | 0.84 | 0.86 |
Capex/Depreciation |
(11.20) | (19.22) | (7.56) | (4.41) | (2.47) | (3.18) | (4.44) | 0.97 | (7.38) | (1.38) |
Interest Coverage |
(95.51) | (100.34) | (3,544.20) | (693.50) | (1,667.41) | (321.21) | (27.67) | — | (125.16) | (44.05) |
| 107.30% | (54.88%) | (57.20%) | (71.49%) | (36.74%) | (55.27%) | (36.55%) | (36.34%) | (31.41%) | (22.56%) | |
| (72.95%) | (29.77%) | (50.42%) | (59.37%) | (32.54%) | (48.46%) | (31.33%) | (29.66%) | (23.14%) | (14.89%) | |
ROIC |
0.00% | (582.83%) | 0.00% | (504.40%) | 0.00% | 0.00% | (572.08%) | 0.00% | (189.71%) | (109.92%) |
Return on Tangible Assets |
(46.79%) | (21.87%) | (57.76%) | (73.01%) | (23.44%) | (52.14%) | (42.53%) | (42.34%) | (32.18%) | (26.98%) |
Average Days of Receivables |
— | — | 254.65 | 106.56 | 38.51 | 120.07 | 67.83 | 81.01 | 77.92 | 84.17 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 93,238.76% | 1,095.27% | 454.90% | 397.27% | 133.19% | 99.68% | 58.77% | 48.01% |
Selling, General and Administrative Expense of Revenue |
0.00% | 0.00% | 16,725.58% | 540.71% | 227.36% | 151.64% | 120.43% | 105.58% | 74.87% | 60.33% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.02 | 0.01 | 0.01 | 0.01 | 0.02 | 0.05 | 0.07 |
Share Based Compensation of Revenue |
0.00% | 0.00% | 9,479.84% | 156.26% | 50.72% | 28.21% | 28.51% | 29.86% | 17.71% | 14.26% |
Graham Net Nets |
— | — | 0.00 | 0.06 | 0.10 | 0.22 | 0.32 | 0.28 | 0.27 | 0.29 |
Graham Number |
— | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
— | — | (6.82%) | (7.89%) | (2.85%) | (12.17%) | (15.01%) | (13.24%) | (9.89%) | (9.13%) |
Free Cash Flow Yield |
— | — | 0.00% | (9.00%) | (2.16%) | (9.72%) | (13.29%) | (7.65%) | (10.66%) | (8.49%) |
Revenue per Share |
0.00 | 0.00 | 0.00 | 0.20 | 0.63 | 1.55 | 2.24 | 2.76 | 4.03 | 4.20 |
Operating CF per Share |
(3.41) | (1.49) | (1.85) | (2.97) | (2.78) | (5.91) | (3.84) | (2.05) | (2.17) | (1.38) |
Capex per Share |
(0.24) | (0.42) | (0.19) | (0.24) | (0.14) | (0.20) | (0.26) | 0.06 | (0.62) | (0.12) |
Free Cash Flow per Share |
(3.64) | (1.90) | (2.05) | (3.20) | (2.92) | (6.11) | (4.10) | (1.99) | (2.79) | (1.50) |
Cash per Share |
8.89 | 10.56 | 5.00 | 4.29 | 15.28 | 15.15 | 10.53 | 8.35 | 8.89 | 7.21 |
Shareholders Equity per Share |
(5.46) | 10.81 | 4.77 | 4.58 | 15.06 | 14.84 | 10.91 | 8.24 | 8.50 | 6.53 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
(5.46) | 10.81 | 4.77 | 4.58 | 15.06 | 14.84 | 10.91 | 8.24 | 8.50 | 6.53 |
Free Cash Flow |
(34.39) | (41.40) | (107.66) | (206.25) | (226.72) | (568.18) | (392.63) | (192.65) | (276.36) | (164.13) |
Working Capital |
78.92 | 218.55 | 220.30 | 245.83 | 1,117.99 | 1,307.98 | 984.49 | 736.54 | 751.10 | 603.12 |
Capital Expenditures |
(2.23) | (9.03) | (10.12) | (15.24) | (10.67) | (18.94) | (24.98) | 5.52 | (61.49) | (13.34) |
Net Current Asset Value |
(56.37) | 216.15 | 218.24 | 231.97 | 1,087.74 | 1,270.88 | 949.79 | 699.43 | 705.63 | 562.40 |
EV/EBIT |
— | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.00 | 0.00 | 78.43 | 1.17 | 0.22 | 0.13 | 0.12 | (0.02) | 0.15 | 0.03 |
Price to Operating Income |
— | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.16 | 0.04 | 0.07 | 0.16 | 0.15 | 0.14 | 0.10 | 0.11 | 0.17 | 0.20 |
Cash ROIC |
(106.14%) | (8.91%) | (20.78%) | (35.74%) | (9.60%) | (20.33%) | (19.05%) | (12.02%) | (14.92%) | (9.60%) |
Accounts Receivable Turnover |
— | — | 0.06 | 6.69 | 10.93 | 5.48 | 4.92 | 5.38 | 5.53 | 4.81 |
Accounts Payable Turnover |
0.20 | 0.11 | 0.00 | 0.12 | 0.39 | 0.55 | 0.77 | 1.07 | 1.38 | 1.58 |
Inventory Turnover |
0.00 | 0.00 | 0.01 | 1.25 | 1.75 | 3.26 | 2.93 | 2.51 | 3.49 | 3.33 |
Average Days of Payables |
959.47 | 6,390.94 | 317,736.74 | 2,206.16 | 1,366.15 | 881.52 | 325.33 | 430.43 | 249.09 | 270.50 |
Days of Inventory on Hand |
0.00 | 0.00 | 33.95 | 584.64 | 286.66 | 132.41 | 155.93 | 170.76 | 98.43 | 142.78 |
Average Receivables |
— | — | 1.99 | 1.94 | 4.48 | 26.32 | 43.72 | 49.58 | 72.19 | 95.65 |
Average Payables |
0.99 | 4.75 | 23.20 | 30.05 | 42.65 | 94.40 | 96.07 | 89.48 | 106.95 | 121.26 |
Average Inventory |
— | — | 3.02 | 3.00 | 9.57 | 16.05 | 25.29 | 38.22 | 42.35 | 57.31 |
Average Assets |
51.42 | 169.27 | 275.81 | 328.57 | 826.40 | 1,453.80 | 1,415.05 | 1,128.22 | 1,111.02 | 1,179.07 |
Average Common Equity |
(34.96) | 91.81 | 243.13 | 272.87 | 732.00 | 1,274.65 | 1,212.78 | 920.86 | 818.51 | 778.20 |
Columns are period end dates