Pricing Log in Create free account
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%
Market cap
$2.7B
P/E
0.0×
Fwd P/E
−7.6×
Dividend yield
—
F-score
4/9
Altman Z
−0.24
Beneish M
−2.35
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.07
Total sells 11.12
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — 1 — — — 1 — — —
Sell 2 2 — — 9 10 3 5 — 3 — —
Insider Ownership 6.15%

Capital & Financial Ratios $m

Market Cap 2,650.00
Revenue 449.61
Net Income (188.21)
Free Cash Flow (162.43)
Net Debt (479.42)
Current Ratio 2.13 (at or above 1.5: strong)
Debt/Equity 0.39 (at or below 0.5: strong)
P/E ratio 0.00
Fwd P/E (7.62) (negative: loss-making)
P/S ratio 5.78
P/B ratio 4.28
Past 5Y EPS Growth —
This Y EPS Growth (38.94%) (below 0%: weak)
Next Y EPS Growth 3.40%
Next Y revenue growth (5.14%) (below 0%: weak)
Next 5Y EPS Growth 3.60%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.7×, against a ten-year median of 8.1×; over the ten years it ranged from 2.7× in 2026 to 366× in 2020.
P/S against its own 10 years 14.81%
10-year low 10-year high
P/B against its own 10 years 59.31%
10-year low 10-year high
EV/Sales against its own 10 years 21.14%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2026 Powerpack
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2018 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 806 880 790 718
Receivables 59 85 106 70
Inventory 45 40 75 91
Other — — — —
940 1,050 1,019 914
2023 2024 2025 Q'26
Payables 113 101 142 137
ST’ Debt — 132 205 238
Other 83 59 64 49
203 299 416 429

Compound Annual Growth %

10y 5y 3y
Sales — 56.54% 28.86%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% (9.36%) (11.88%)

Revenue $m

Mar Jun Sep Dec Year
’26 100 106 — — —
’25 106 110 116 128 460
’24 87 101 102 109 399
’23 63 69 69 66 267
’22 47 48 58 63 215
’21 20 37 43 44 144
’20 8 19 15 15 49
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (12) (63) — — —
’25 (62) (31) (32) (26) (151)
’24 (90) (42) (27) (56) (215)
’23 (69) (59) (55) (15) (198)
’22 (87) (45) (126) (109) (368)
’21 (169) (66) (161) (153) (549)
’20 (40) (52) (79) (44) (216)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (34) (65) — — —
’25 (66) (35) (36) (27) (164)
’24 (103) (43) (57) (74) (276)
’23 (73) (51) (53) (16) (193)
’22 (97) (49) (133) (114) (393)
’21 (171) (70) (167) (159) (568)
’20 (41) (53) (83) (50) (227)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.46) (0.46) — — —
’25 (0.45) (0.37) (0.33) (0.46) (1.60)
’24 (0.55) (0.82) (0.42) (0.80) (2.60)
’23 (0.51) (1.25) (0.71) (0.98) (3.50)
’22 (0.86) (1.44) (1.68) (0.65) (4.63)
’21 (2.64) (1.76) (1.01) (2.24) (7.58)
’20 (0.66) (1.47) (0.84) (0.88) (3.46)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — 20.67 14.29 21.01 38.64 49.41 20.98 22.35 13.48 16.82

Analyst estimates 2026–2028

Powerpack
High — 35.74 27.34 44.06 135.66 193.54 65.03 49.81 36.60 44.34
People
People Employees 52 88 309 692 1,194 1,951 2,036 2,175 1,869 1,784
Revenue/emp, $m 0.00 0.00 0.00 0.02 0.04 0.07 0.11 0.12 0.21 0.26
Income, $m
Income, $m Revenue — — 0 13 49 144 215 267 399 460
Gross margin, % 0.00 0.00 66.67 71.13 65.82 63.80 65.58 64.08 62.94 58.47
EBT (38) (50) (138) (194) (268) (703) (443) (335) (257) (178)
EBT margin, % 0.00 0.00 (107,355.04) (1,496.49) (546.97) (487.43) (206.04) (125.46) (64.44) (38.78)
Net income (38) (50) (139) (195) (269) (704) (443) (335) (257) (176)
Depreciation 0 0 1 3 4 6 6 6 8 10
Per share, $
Per share, $ Revenue 0.00 0.00 0.00 0.20 0.63 1.55 2.24 2.76 4.03 4.20
Earnings (3.97) (2.32) (2.64) (3.03) (3.46) (7.58) (4.63) (3.50) (2.60) (1.60)
Cash flow (3.41) (1.49) (1.85) (2.97) (2.78) (5.91) (3.84) (2.05) (2.17) (1.38)
Capex (0.24) (0.42) (0.19) (0.24) (0.14) (0.20) (0.26) 0.06 (0.62) (0.12)
Free cash flow (3.64) (1.90) (2.05) (3.20) (2.92) (6.11) (4.10) (1.99) (2.79) (1.50)
Book value (5.46) 10.81 4.77 4.58 15.06 14.84 10.91 8.24 8.50 6.53
Shares, m 9 22 53 64 78 93 96 97 99 110
Valuation, ×
Valuation, × P/E — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
P/S — — 0.00 292.51 183.76 40.50 13.74 9.44 6.50 4.20
P/B — — 0.00 13.05 8.99 4.24 2.83 3.16 3.08 2.70
EV/Sales — — 0.00 272.01 163.10 30.78 9.08 6.44 4.62 2.93
EV/FCF — — 1.27 (10.33) (41.15) (7.82) (4.97) (8.92) (6.67) (8.21)
Cash, $m
Cash, $m Operating cash flow (32) (32) (98) (191) (216) (549) (368) (198) (215) (151)
Capex (2) (9) (10) (15) (11) (19) (25) 6 (61) (13)
Free cash flow (34) (41) (108) (206) (227) (568) (393) (193) (276) (164)
Balance, $m
Balance, $m Working capital 79 219 220 246 1,118 1,308 984 737 751 603
Total debt — — 4 6 5 6 7 — 132 205
Net debt (84) (230) (260) (269) (1,182) (1,403) (1,001) (806) (748) (585)
Shareholders’ equity (52) 235 251 295 1,169 1,380 1,046 796 841 716
Returns, %
Returns, % ROA (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)
ROE 107.30 (54.88) (57.20) (71.49) (36.74) (55.27) (36.55) (36.34) (31.41) (22.56)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Zai Lab Limited Unsponsored ADR vs peers in Biotechnology (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
RCUS Arcus Biosciences, Inc. $2.9B — (loss-making) — (loss-making) −74.38% (below 0%: shrinking) n/m +10.53% (above 0%: growing) 100.00% (234.15%) Compare
ELVN Enliven Therapeutics, Inc. $2.9B — (loss-making) — — n/m −8.34% (below 0%: shrinking) 0.00% 0.00% Compare
DYN Dyne Therapeutics, Inc. $2.9B — (loss-making) — — n/m −39.08% (below 0%: shrinking) 0.00% 0.00% Compare
NRIX Nurix Therapeutics, Inc. $2.7B 9.7× — (loss-making) +8,426.27% (above 0%: growing) n/m +1,122.10% (above 0%: growing) 100.00% 83.12% Compare
ZLAB Zai Lab Limited Unsponsored ADR $2.7B — (loss-making) — (loss-making) −3.33% (below 0%: shrinking) n/m −84.42% (below 0%: shrinking) 54.70% (71.95%)
PGEN Precigen, Inc. $2.6B — (loss-making) — (loss-making) +6,322.66% (above 0%: growing) n/m +8.73% (above 0%: growing) 94.90% 41.18% Compare
BEAM Beam Therapeutics Inc. $2.6B — (loss-making) — (loss-making) −94.21% (below 0%: shrinking) n/m +13.92% (above 0%: growing) 100.00% (25,827.14%) Compare
NAMS NewAmsterdam Pharma Company N.V. $2.5B — (loss-making) — (loss-making) −80.67% (below 0%: shrinking) n/m −4.07% (below 0%: shrinking) 100.00% (1,752.61%) Compare
MBX MBX Biosciences, Inc. $2.4B — (loss-making) — — n/m −29.67% (below 0%: shrinking) — 0.00% Compare
Median of peers $2.7B — — −74.38% — +2.33% 100.00% 0.00%

All 614 Biotechnology stocks →

Zai Lab Limited Unsponsored ADR (ZLAB) key facts

  • Concern: Zai Lab Limited Unsponsored ADR reported a net loss of $175.5 million, or a loss of $1.60 per share, for fiscal 2025.
  • Strength: Zai Lab Limited Unsponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $460.2 million, up 15.3% from fiscal 2024.
  • Zai Lab Limited Unsponsored ADR (ZLAB) is a Biotechnology company in the Healthcare sector, traded in the US as an ADR.
  • As of October 16, 2026, ZLAB traded at $23.25, a market capitalization of $2.7 billion.
  • Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 5.8× sales.
  • Return on equity was −22.6% and debt-to-equity 0.39.
  • Its Piotroski F-score is 4 out of 9 and its Altman Z-score is −0.24 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Zai Lab Limited Unsponsored ADR (ZLAB) Latest News

No news at this impact. Lower the threshold for more.
stockrow.com/ZLAB · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com