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Zymeworks Inc.

ZYME Healthcare Biotechnology

Zymeworks Inc.’s revenue for fiscal 2025 (year ended December 2025) was $106.0 million, up 38.9% from fiscal 2024.

Revenue
−90.6%
EPS
−2,166.7%
Free cash flow
−385.5%

Quarter to June 2026, against a year earlier

29.69 0.95 +3.31%
Market cap
$2.0B
P/E
0.0×
Fwd P/E
26.0×
Dividend yield
—
F-score
7/9
Altman Z
11.56
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 5.03
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 7 — — — — — — — — 1 —
Insider Ownership 6.27%

Capital & Financial Ratios $m

Size
Market Cap 2,040.00
Revenue ttm 37.13
Net income ttm (149.99)
Free cash flow ttm (120.54)
Net debt Q (270.70)
Valuation
P/E 0.00
Forward P/E 26.00
Price / sales 56.80 (above 10: high)
Forward P/S Powerpack
Price / FCF 0.00
Price / book 26.24 (above 6: high)
Financial health
Current ratio Q 6.32 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q (6.40)
Growth
Revenue growth Q −90.58% (below 0%: shrinking)
Operating income growth Q −6,158.16% (below 0%: shrinking)
EPS, this year +210.05% (at or above 15%: strong)
EPS, next year A +11.43%
Revenue, next year A +179.72% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +69.06% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 49.5×, against a ten-year median of 10.8×; over the ten years it ranged from 0.2× in 2023 to 88.1× in 2020.
P/S against its own 10 years 87.06%
10-year low 10-year high
P/B against its own 10 years 99.53%
10-year low 10-year high
EV/Sales against its own 10 years 90.15%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 374 226 229 271
Receivables 19 56 5 6
Inventory — — — —
Other — — — —
413 300 249 298
2023 2024 2025 Q'26
Payables 46 60 36 27
ST’ Debt — — — —
Other — — — —
56 88 42 47

Compound Annual Growth %

10y 5y 3y
Sales 27.06% 22.16% (36.43%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 30.86% (8.11%) (18.33%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.56 Actual −0.62

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 −0.30 −0.26 Beat by 0.04
Q4 FY25 −0.35 −0.55 Miss by 0.20
Q1 FY26 −0.10 −0.59 Miss by 0.49
Q2 FY26 −0.56 −0.62 Miss by 0.06
Q3 FY26 2.40 — Reports 9 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.59) (0.62) — — —
’25 (0.30) 0.03 (0.26) (0.55) (1.08)
’24 (0.42) (0.49) (0.39) (0.31) (1.62)
’23 (0.37) (0.76) (0.41) (0.20) (1.72)
’22 (1.19) (0.97) (0.72) 4.65 1.90
’21 (0.87) (1.31) (1.25) (0.72) (4.61)
’20 (0.64) (0.77) (1.43) (0.74) (3.58)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2 5 — — —
’25 27 49 28 3 106
’24 10 19 16 31 76
’23 36 7 17 17 76
’22 2 5 3 402 412
’21 1 2 4 20 27
’20 8 12 3 16 39
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (46) (32) — — —
’25 (3) 12 (31) (10) (33)
’24 (38) (25) (6) (42) (110)
’23 (83) (6) (43) 14 (118)
’22 (55) (55) (73) 327 144
’21 (41) (50) (51) (51) (192)
’20 (37) (50) (16) (48) (151)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (46) (32) — — —
’25 (4) 11 (32) (11) (35)
’24 (38) (26) (7) (42) (113)
’23 (84) (7) (44) 12 (122)
’22 (60) (59) (77) 326 131
’21 (41) (52) (56) (56) (206)
’20 (38) (52) (19) (49) (158)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 11 52 53 30 39 27 412 76 76 106 37 +28.6% 296 377 283 +38.7%
Gross margin, % (234.42) 19.34 (7.37) (292.30) (339.53) (648.70) 49.43 (88.94) (76.43) (29.29) (246.66) +205.1 pt
EBT (39) (10) (34) (146) (180) (212) 135 (119) (117) (80) (151) +8.3%
EBT margin, % (353.20) (19.25) (64.85) (494.24) (462.43) (795.95) 32.79 (156.87) (152.82) (75.26) (407.76) +277.9 pt
Net income (34) (10) (37) (145) (181) (212) 124 (119) (123) (81) (150) +10.2%
Per share, $
Per share, $ Revenue 0.86 2.44 1.82 0.78 0.77 0.52 6.33 1.10 1.01 1.41 0.51 +5.5%
Earnings (2.65) (0.51) (1.26) (3.83) (3.58) (4.11) 1.91 (1.72) (1.62) (1.08) (2.02) (9.5%)
Cash flow (2.77) 0.01 0.83 (2.15) (3.01) (3.73) 2.21 (1.72) (1.45) (0.44) (1.63) (18.5%)
Capex (0.43) (0.15) (0.12) (0.36) (0.12) (0.26) (0.20) (0.06) (0.04) (0.03) (0.02) (25.3%)
Free cash flow (3.20) (0.14) 0.71 (2.52) (3.13) (3.99) 2.01 (1.78) (1.49) (0.47) (1.65) (19.2%)
Book value 5.33 5.48 6.20 6.46 8.14 4.83 7.56 6.75 4.47 3.56 1.10 (4.4%)
Shares, m 13 21 29 38 50 52 65 69 76 75 75 +21.8%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 4.24 0.00 0.00 0.00 0.00 0.4
P/S 15.62 3.26 8.05 58.51 61.13 31.67 1.19 9.40 14.55 18.74 56.80 22.2
P/B 0.00 1.45 2.37 7.04 5.81 3.39 1.00 1.54 3.28 7.39 26.24 3.3
EV/Sales 13.59 1.65 4.36 48.58 50.34 23.37 0.06 4.78 11.89 16.58 49.52 17.5
EV/FCF (3.16) (29.37) 11.15 (14.61) (12.44) (3.03) 0.18 (2.89) (8.02) (49.69) (15.15) (11.2)
Cash, $m
Cash, $m Operating cash flow (35) 0 24 (82) (151) (192) 144 (118) (110) (33) (119) (0.7%)
Capex (5) (3) (3) (14) (6) (13) (13) (4) (3) (2) (1) (8.9%)
Free cash flow (41) (3) 21 (96) (158) (206) 131 (122) (113) (35) (121) (1.6%)
Balance, $m
Balance, $m Working capital 30 78 174 229 369 216 449 357 212 206 251 +23.9%
Net debt (36) (88) (200) (299) (426) (253) (492) (374) (226) (229) (271) +22.9%
Shareholders’ equity 68 116 180 246 410 249 493 465 339 269 80 +16.5%
Returns, %
Returns, % ROA (57.72) (9.67) (19.42) (47.48) (39.83) (45.68) 23.96 (19.30) (23.51) (20.04) (37.25) +37.7 pt
ROIC (73.91) (19.64) 0.00 0.00 0.00 0.00 11,267.96 (95.36) (75.84) (145.69) 0.00 (71.8) pt
ROE (248.22) (17.42) (24.62) (68.25) (55.08) (64.29) 33.51 (24.78) (30.54) (26.72) (72.31) +221.5 pt
People
People Employees 117 147 183 256 355 458 294 277 286 264 — +9.5%
Revenue/emp, $m 0.09 0.35 0.29 0.12 0.11 0.06 1.40 0.27 0.27 0.40 — +17.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Zymeworks Inc. 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
VCEL Vericel Corporation $2.7B 77.8× 72.9× +26.47% (above 0%: growing) +180.00% (above 0%: growing) −19.39% (below 0%: shrinking) 73.34% 14.27% Compare
SEPN Septerna, Inc. $2.2B — (loss-making) — (loss-making) +22,375.63% (above 0%: growing) n/m −9.01% (below 0%: shrinking) 100.00% (62.95%) Compare
LKFT Lakefront Biotherapeutics - Sponsored ADR $2.2B — (loss-making) — (loss-making) −95.35% (below 0%: shrinking) +198.85% (above 0%: growing) +18.22% (above 0%: growing) 25.95% (982.91%) Compare
AUPH Aurinia Pharmaceuticals Inc $2.2B 6.8× 17.6× +13.93% (above 0%: growing) 0.00% +4.41% (above 0%: growing) 90.08% 40.74% Compare
VERA Vera Therapeutics, Inc. $2.2B — (loss-making) — — n/m −82.47% (below 0%: shrinking) 0.00% 0.00% Compare
COAG Hemab Therapeutics Holdings, Inc. $2.1B — (loss-making) — — n/m — — 0.00% Compare
IMNM Immunome, Inc. $2.1B — (loss-making) — (loss-making) +69.84% (above 0%: growing) n/m −26.96% (below 0%: shrinking) 100.00% 0.00% Compare
BHVN Biohaven Ltd. $2.1B — (loss-making) — (loss-making) +131.43% (above 0%: growing) n/m +26.55% (above 0%: growing) 0.00% 0.00% Compare
ZYME Zymeworks Inc. $2.0B — (loss-making) 26.0× −90.58% (below 0%: shrinking) n/m −385.53% (below 0%: shrinking) (497.71%) (918.95%)
Median of peers $2.2B — — +48.16% +180.00% −9.01% 73.34% 0.00%

All 621 Biotechnology stocks →

Pay and ownership Proxy statement filed 10 November 2025

Ownership

Directors and executive officers, together 31.27%
EcoR1 Capital, LLC 30.47%
Oleg Nodelman 30.47%
BVF Partners L.P. 6.11%
Redmile Group, LLC 5.51%
Morgan Stanley 5.38%
Rubric Capital Management LP 5.20%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Zymeworks Inc. (ZYME) Latest News

3 Nov

Impact 3 · · Simply Wall St.

29 Oct

Impact 3 · · Zacks

26 Oct

Impact 4 · · Simply Wall St.

24 Oct

Impact 4 · · GlobeNewswire

23 Oct

Impact 4 · · Stocktwits
Impact 4 · · Investing.com
Impact 4 · · MT Newswires
Impact 4 · · GlobeNewswire

19 Oct

Impact 4 · · GlobeNewswire

15 Oct

Impact 3 · · GlobeNewswire

8 Oct

Impact 4 · · Simply Wall St.

2 Oct

Impact 4 · · MarketBeat

28 Sep

Impact 4 · · GlobeNewswire

23 Sep

Impact 4 · · GlobeNewswire

20 Sep

Impact 4 · · MarketBeat

1 Sep

Impact 4 ·

26 Aug

Impact 4 ·

25 Aug

Impact 5 ·
Impact 4 · · MarketBeat
Impact 4 · · biopharmadive.com
Impact 4 · · Stocktwits

24 Aug

Impact 4 · · InvestorsHub

11 Aug

Impact 4 ·

6 Aug

Impact 3 ·

3 Aug

Impact 3 · · MarketBeat

30 Jun

Impact 5 ·
Impact 4 · · pharmaceutical-technology.com

29 Jun

Impact 4 · · Stocktwits
Impact 4 ·
Impact 4 ·

ZYME metrics, ten years each

stockrow.com/ZYME · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com