ZLAB Stock Analysis: Zai Lab | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 2.945m USD | 12M Return: -18.9% | US98887Q1040 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 29.7M
Qual. Beats: 1
Rev. Trend: 94.8%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 8.9 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Zai Lab Limited is a Shanghai- and Pudong-headquartered biopharmaceutical company that develops and commercializes therapies across oncology, immunology, neuroscience, and infectious diseases. Its commercial portfolio spans Zejula (ovarian cancer), VYVGART (myasthenia gravis and CIDP), NUZYRA (pneumonia and skin infections), Optune (glioblastoma), Qinlock (GIST), Xacduro (hospital-acquired pneumonia), and Augtyro (NSCLC). The company partners with multiple global drug developers, including Pfizer, Amgen, and Boehringer Ingelheim, to in-license and advance therapeutic candidates for commercialization.
Operating within the GICS Biotechnology sub-industry, Zai Labs business model centers on acquiring rights to late-stage and commercial assets from Western biopharma partners and commercializing them across China and broader Asia-Pacific markets, where it leverages local regulatory and commercial infrastructure rather than conducting early discovery work. Founded in 2013 and listed on Nasdaq since 2017, the company has grown into a mid-cap China-based biopharma player whose revenue mix is increasingly weighted toward its own commercial launches alongside partnered products.
- VYVGART and Zejula commercial sales drive China revenue growth
- NRDL pricing pressure compresses margins on key therapies
- Domestic Chinese biotech competition intensifies in oncology market
| Net Income: -188.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.15 > 0.02 and ΔFCF/TA 4.41 > 1.0 |
| NWC/Revenue: 108.0% < 20% (prev 164.2%; Δ -56.26% < -1%) |
| CFO/TA -0.12 > 3% & CFO -133.4m > Net Income -188.2m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 2.13 > 1.5 & < 3 |
| Outstanding Shares: last quarter (111.7m) vs 12m ago 2.29% < -2% |
| Gross Margin: 56.47% > 18% (prev 62.39%; Δ -5.92% > 0.5%) |
| Asset Turnover: 40.16% > 50% (prev 36.75%; Δ 3.41% > 0%) |
| Interest Coverage Ratio: -30.87 > 6 (EBIT TTM -184.7m / Interest Expense TTM 5.99m) |
| A: 0.45 (Total Current Assets 914.0m - Total Current Liabilities 428.6m) / Total Assets 1.07b |
| B: -2.54 (Retained Earnings -2.73b / Total Assets 1.07b) |
| C: -0.17 (EBIT TTM -184.7m / Avg Total Assets 1.12b) |
| D: 1.30 (Book Value of Equity 607.0m / Total Liabilities 467.8m) |
| Altman-Z'' = -5.07 = D |
| DSRI: 0.70 (Receivables 73.0m/99.3m, Revenue 449.6m/427.8m) |
| GMI: 1.10 (GM 62.39% / 56.47%) |
| AQI: 1.69 (AQ_t 0.09 / AQ_t-1 0.05) |
| SGI: 1.05 (Revenue 449.6m / 427.8m) |
| TATA: -0.05 (NI -188.2m - CFO -133.4m) / TA 1.07b) |
| Beneish M = -2.74 (Cap -4..+1) = A |
As of September 09, 2026, the stock is trading at USD 25.41 with a total of 711,749 shares traded. Over the past week, the price has changed by -0.20%, over one month by +7.81%, over three months by +54.19% and over the past year by -18.90%.
Current recommended Stop Loss: 23.80 (which is 6.3% or 1.4 ATR below the current price).
Zai Lab has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy ZLAB.
- StrongBuy: 7
- Buy: 4
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 33.1 | 30.4% |
P/S = 6.5495
P/B = 4.8972
Revenue TTM = 449.6m USD
EBIT TTM = -184.7m USD
EBITDA TTM = -168.8m USD
Long Term Debt = 11.4m USD (estimated: total debt 254.6m - short term 243.1m)
Short Term Debt = 243.1m USD (from shortTermDebt, last quarter)
Debt = 271.0m USD (from shortLongTermDebtTotal, last quarter) + Leases 16.5m
Net Debt = -346.5m USD (calculated: Debt 271.0m - CCE 617.5m)
Enterprise Value = 2.60b USD (2.94b + Debt 271.0m - CCE 617.5m)
Interest Coverage Ratio = -30.87 (Ebit TTM -184.7m / Interest Expense TTM 5.99m)
EV/FCF = -15.99x (Enterprise Value 2.60b / FCF TTM -162.5m)
FCF Yield = -6.25% (FCF TTM -162.5m / Enterprise Value 2.60b)
FCF Margin = -36.15% (FCF TTM -162.5m / Revenue TTM 449.6m)
Net Margin = -41.86% (Net Income TTM -188.2m / Revenue TTM 449.6m)
Gross Margin = 56.47% ((Revenue TTM 449.6m - Cost of Revenue TTM 195.7m) / Revenue TTM)
Gross Margin QoQ = 54.70% (prev 61.52%)
Tobins Q-Ratio = 2.42 (Enterprise Value 2.60b / Total Assets 1.07b)
Interest Expense / Debt = 2.21% (Interest Expense 5.99m / Debt 271.0m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -145.9m (EBIT -184.7m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.13 (Total Current Assets 914.0m / Total Current Liabilities 428.6m)
Debt / Equity = 0.45 (Debt 271.0m / totalStockholderEquity, last quarter 607.0m)
Debt / EBITDA = 2.05 (negative EBITDA) (Net Debt -346.5m / EBITDA -168.8m)
Debt / FCF = 2.13 (negative FCF - burning cash) (Net Debt -346.5m / FCF TTM -162.5m)
Total Stockholder Equity = 686.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -16.81% (Net Income -188.2m / Total Assets 1.07b)
RoE = -27.43% (Net Income TTM -188.2m / Total Stockholder Equity 686.1m)
RoCE = -26.48% (EBIT -184.7m / Capital Employed (Equity 686.1m + L.T.Debt 11.4m))
RoIC = -16.84% (negative operating profit) (NOPAT -145.9m / Invested Capital 866.9m)
WACC = 7.42% (E(2.94b)/V(3.22b) * Re(7.94%) + D(271.0m)/V(3.22b) * Rd(2.21%) * (1-Tc(0.21)))
Discount Rate = 7.94% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -79.43 | Cagr: -61.79%
[DCF] Fair Price = unknown (Cash Flow -162.5m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 1.17 | # QB: 1
Revenue Correlation: 94.78 | Revenue CAGR: 25.12% | SUE: 0.21 | # QB: 0
EPS current Quarter (2026-09-30): EPS=-0.56 | Chg30d=-5.36% | Revisions=+0% | Analysts=6
EPS current Year (2026-12-31): EPS=-2.20 | Chg30d=-0.05% | Revisions=+22% | GrowthEPS=-37.2% | GrowthRev=-8.1%
EPS next Year (2027-12-31): EPS=-2.11 | Chg30d=-20.03% | Revisions=-67% | GrowthEPS=+3.9% | GrowthRev=+33.9%
[Analyst] Revisions Ratio: -21% (up=6, down=10)