| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | 1 | 7 | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2025 | ‡‡‡ |
|
| 2024 | ‡‡‡ |
|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2019 | ‡‡‡ |
|
| 2017 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 374.33 | 225.78 | 228.80 | 270.70 |
| Receivables | 19.48 | 55.82 | 4.64 | 5.93 |
| Inventory | — | — | — | — |
| Other | — | — | — | — |
| 412.93 | 300.45 | 248.77 | 298.39 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 45.99 | 59.84 | 36.35 | 27.46 |
| ST’ Debt | — | — | — | — |
| Other | 0.96 | — | — | — |
| 55.76 | 88.29 | 42.32 | 47.24 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 2.41 | 4.59 | — | — |
—
|
| ’25 | 27.11 | 48.73 | 27.61 | 2.52 |
105.97
|
| ’24 | 10.03 | 19.24 | 16.00 | 31.03 |
76.30
|
| ’23 | 35.58 | 7.00 | 16.51 | 16.93 |
76.01
|
| ’22 | 1.92 | 5.44 | 2.63 | 402.49 |
412.48
|
| ’21 | 0.64 | 1.77 | 4.40 | 19.87 |
26.68
|
| ’20 | 8.27 | 12.36 | 2.64 | 15.68 |
38.95
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (45.72) | (31.95) | — | — |
—
|
| ’25 | (3.41) | 12.07 | (31.41) | (10.26) |
(33.00)
|
| ’24 | (37.67) | (24.99) | (5.88) | (41.51) |
(110.06)
|
| ’23 | (83.19) | (6.40) | (42.67) | 13.95 |
(118.30)
|
| ’22 | (55.41) | (54.82) | (73.01) | 327.36 |
144.11
|
| ’21 | (40.80) | (50.35) | (50.79) | (50.51) |
(192.45)
|
| ’20 | (37.49) | (49.96) | (16.06) | (47.90) |
(151.40)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (45.93) | (31.95) | — | — |
—
|
| ’25 | (3.74) | 11.19 | (31.82) | (10.98) |
(35.36)
|
| ’24 | (38.33) | (26.09) | (6.88) | (41.82) |
(113.12)
|
| ’23 | (83.58) | (7.20) | (43.80) | 12.20 |
(122.38)
|
| ’22 | (60.12) | (58.57) | (76.81) | 326.48 |
130.98
|
| ’21 | (41.50) | (52.14) | (55.96) | (56.13) |
(205.74)
|
| ’20 | (38.44) | (51.61) | (18.69) | (48.93) |
(157.67)
|
| 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) | (0.95) |
(4.61)
|
| ’20 | (0.64) | (0.77) | (1.43) | (0.74) |
(3.58)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| — | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 4.11 | 6.02 | 7.97 | 9.03 | — | — | — |
Low Price
|
| — | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 17.27 | 10.99 | 17.70 | 28.49 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 294 | 277 | 286 | 264 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.40 | 0.27 | 0.27 | 0.40 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 412.48 | 76.01 | 76.30 | 105.97 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 49.43% | (88.94%) | (76.43%) | (29.29%) | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 135.23 | (119.24) | (116.61) | (79.75) | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 32.79% | (156.87%) | (152.82%) | (75.26%) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 124.34 | (118.67) | (122.69) | (81.13) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.24 | 17.31 | 11.19 | 11.11 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.33 | 1.10 | 1.01 | 1.41 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.91 | (1.72) | (1.62) | (1.08) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.21 | (1.72) | (1.45) | (0.44) | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.20) | (0.06) | (0.04) | (0.03) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.01 | (1.78) | (1.49) | (0.47) | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.56 | 6.75 | 4.47 | 3.56 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 65.20 | 68.86 | 75.85 | 75.41 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 4.24 | 0.00 | 0.00 | 0.00 | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.19 | 9.40 | 14.55 | 18.74 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.00 | 1.54 | 3.28 | 7.39 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.07 | 4.83 | 11.94 | 16.62 | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.21 | (2.92) | (8.05) | (49.80) | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 144.11 | (118.30) | (110.06) | (33.00) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (13.12) | (4.08) | (3.07) | (2.35) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 130.98 | (122.38) | (113.12) | (35.36) | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 449.08 | 357.16 | 212.16 | 206.45 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 28.13 | — | — | — | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (464.10) | (374.33) | (225.78) | (228.80) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 492.96 | 464.81 | 338.77 | 268.50 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 23.96% | (19.30%) | (23.51%) | (20.04%) | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | 282.74% | (95.36%) | (75.84%) | (145.69%) | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 33.51% | (24.78%) | (30.54%) | (26.72%) | ‡‡‡‡‡ | — | — |
ROE
|
Zymeworks Inc. (ZYME), a clinical-stage biotech developing multifunctional antibody therapies for cancer, exemplifies the sector’s high volatility, with revenue surges from milestone payments—like the 682% jump to $412 million in 2022 from zanidatamab partnerships—giving way to sharp declines and persistent losses. Gross margins swing wildly from negative territory to brief peaks, underscoring operational strains, cash burn, and eroding shareholder equity (down 27% in 2024 to $339 million), while free cash flow per share remains deeply negative outside outlier years. Trading 33-130% below analyst targets amid stabilizing revenue-per-share, the stock offers apparent upside but mirrors biotech’s feast-or-famine economics.
Recent insider activity provides a rare bullish counterpoint: a key director amassed $26.1 million in shares (1.6 million+) in early 2025, dwarfing minimal executive sells, signaling conviction ahead of potential Phase 3 catalysts for zanidatamab in the HER2 market. Analysts forecast 61-110% revenue growth through 2026, flipping EPS positive at $0.54 in 2025, with contracting EV/sales multiples—if milestones deliver.
Yet downside risks loom large: trial failures, funding squeezes in a high-rate environment, negative ROE (-30.5%), and capital inefficiencies could exacerbate balance sheet pressures. While net cash offers a buffer, ZYME demands cautious positioning—perhaps 5-10% for aggressive portfolios—awaiting data inflection. Read the full analysis for deeper balance sheet scrutiny and historical parallels.
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