Overview Dividends

(ZLAB) Zai Lab - Ratings and Ratios

Exchange: NASDAQ • Country: China • Currency: USD • Type: Common Stock • ISIN: US98887Q1040

Oncology, Immunology, Neuroscience, Infectious

ZLAB EPS (Earnings per Share)

EPS Growth (3Y CAGR): 15.50%
EPS Trend (3Y Correlation): 57.9%

ZLAB Revenue

Revenue Growth (3Y CAGR): 25.18%
Revenue Trend (3Y Correlation): 94.8%

Risk via 10d forecast
Volatility	62.8%
Value at Risk 5%th	99.2%
Relative Tail Risk	-3.86%

Reward TTM
Sharpe Ratio	-0.23
Alpha	-38.03

Character TTM
Hurst Exponent	0.434
Beta	0.917
Beta Downside	1.188

Drawdowns 3y
Max DD	71.48%
Mean DD	40.76%
Median DD	41.85%

Description: ZLAB Zai Lab November 07, 2025

Zai Lab Ltd (NASDAQ: ZLAB) is a China-based biopharma founded in 2013 that concentrates on discovering, developing, and commercializing therapies for oncology, immunology, neuroscience, and infectious diseases. Its business model blends in-house R&D with a network of licensed collaborations that accelerate market entry across multiple therapeutic classes.

The company’s current commercial portfolio includes Zejula (niraparib) for ovarian cancer, VYVGART for myasthenia gravis and CIDP, NUZYRA for bacterial pneumonia and skin infections, Optune (tumor-treating fields) for glioblastoma, Qinlock for GIST, Xacduro for Acinetobacter-related pneumonia, and Augtyro targeting ROS1-positive non-small cell lung cancer.

Zai Lab’s pipeline features several late-stage candidates: bemarituzumab (FGFR2-targeted antibody), tumor-treating fields, tisotumab vedotin (antibody-drug conjugate), and repotrectinib (TRK/ROS1 inhibitor) in oncology; plus efgartigimod, xanomeline, and trospium chloride in immunology, neuroscience, and infectious disease. These assets are advanced under collaborations with partners such as Amgen, Bristol-Myers Squibb, NovoCure, and Pfizer, which provide both development expertise and co-funding.

Recent data (Q2 2024) show Zai Lab generated $210 million in revenue, a 28 % YoY increase driven largely by Zejula sales in China, and the company reported a cash runway extending into 2026. The Chinese biotech sector is benefitting from accelerated regulatory pathways for innovative therapies, while global demand for oncology and rare-disease drugs remains a strong tailwind, supporting higher pricing power and market expansion.

For a deeper, data-driven look at Zai Lab’s valuation assumptions and scenario analysis, you may find the free research tools on ValueRay useful.

ZLAB Stock Overview

Market Cap in USD	2,456m
Sub-Industry	Biotechnology
IPO / Inception	2017-09-20
Return 12m vs S&P 500	-25.3%
Analyst Rating	4.50 of 5

ZLAB Dividends

Currently no dividends paid

ZLAB Growth Ratios

CAGR 3y	-14.76%
CAGR/Max DD Calmar Ratio	-0.21
CAGR/Mean DD Pain Ratio	-0.36
Current Volume	495.7k
Average Volume	921.7k

Piotroski VR‑10 (Strict, 0-10) 1.0

Net Income (-206.8m TTM) > 0 and > 6% of Revenue (6% = 26.5m TTM)

FCFTA -0.18 (>2.0%) and ΔFCFTA 4.34pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 152.4% (prev 161.4%; Δ -8.99pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.16 (>3.0%) and CFO -180.5m > Net Income -206.8m (YES >=105%, WARN >=100%)

NO Net Debt/EBITDA fails (EBITDA <= 0)

Current Ratio 2.87 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (110.2m) change vs 12m ago 1029 % (target <= -2.0% for YES)

Gross Margin 61.32% (prev 63.17%; Δ -1.86pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 41.19% (prev 36.10%; Δ 5.09pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -42.51 (EBITDA TTM -185.6m / Interest Expense TTM 4.75m) >= 6 (WARN >= 3)

Altman Z'' -11.39

(A) 0.58 = (Total Current Assets 1.03b - Total Current Liabilities 359.8m) / Total Assets 1.16b

(B) -2.22 = Retained Earnings (Balance) -2.58b / Total Assets 1.16b

warn (B) unusual magnitude: -2.22 — check mapping/units

(D) -6.36 = Book Value of Equity -2.54b / Total Liabilities 399.0m

Total Rating: -11.39 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 29.69

1. Piotroski 1.0pt = -4.0

2. FCF Yield -10.56% = -5.0

3. FCF Margin -46.83% = -7.50

4. Debt/Equity 0.29 = 2.46

5. Debt/Ebitda 2.68 = -1.28

6. ROIC - WACC (= -29.47)% = -12.50

7. RoE -25.82% = -2.50

8. Rev. Trend 94.81% = 7.11

9. EPS Trend 57.94% = 2.90

What is the price of ZLAB shares?

As of November 17, 2025, the stock is trading at USD 21.75 with a total of 495,742 shares traded.
Over the past week, the price has changed by -0.64%, over one month by -24.58%, over three months by -39.06% and over the past year by -13.59%.

Is Zai Lab a good stock to buy?

No, based on ValueRay´s Fundamental Analyses, Zai Lab (NASDAQ:ZLAB) is currently (November 2025) a stock to sell. It has a ValueRay Fundamental Rating of 29.69 and therefor a negative outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of ZLAB is around 17.68 USD . This means that ZLAB is currently overvalued and has a potential downside of -18.71%.

Is ZLAB a buy, sell or hold?

Zai Lab has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy ZLAB.

Strong Buy: 7
Buy: 4
Hold: 1
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the ZLAB price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	50.8	133.7%
Analysts Target Price	50.8	133.7%
ValueRay Target Price	19.8	-9.2%

ZLAB Fundamental Data Overview November 16, 2025

Market Cap USD = 2.46b (2.46b USD * 1.0 USD.USD)
P/S = 5.5618
P/B = 3.1652
Beta = 0.852
Revenue TTM = 441.6m USD
EBIT TTM = -202.1m USD
EBITDA TTM = -185.6m USD
Long Term Debt = 16.3m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 208.5m USD (from shortTermDebt, last quarter)
Debt = 219.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -497.8m USD (from netDebt column, last quarter)
Enterprise Value = 1.96b USD (2.46b + Debt 219.4m - CCE 717.2m)
Interest Coverage Ratio = -42.51 (Ebit TTM -202.1m / Interest Expense TTM 4.75m)
FCF Yield = -10.56% (FCF TTM -206.8m / Enterprise Value 1.96b)
FCF Margin = -46.83% (FCF TTM -206.8m / Revenue TTM 441.6m)
Net Margin = -46.83% (Net Income TTM -206.8m / Revenue TTM 441.6m)
Gross Margin = 61.32% ((Revenue TTM 441.6m - Cost of Revenue TTM 170.8m) / Revenue TTM)
Gross Margin QoQ = 59.62% (prev 60.70%)
Tobins Q-Ratio = 1.69 (Enterprise Value 1.96b / Total Assets 1.16b)
Interest Expense / Debt = 0.64% (Interest Expense 1.40m / Debt 219.4m)
Taxrate = -0.0% (0.0 / -36.0m)
NOPAT = -202.1m (EBIT -202.1m * (1 - -0.00%)) [loss with tax shield]
Current Ratio = 2.87 (Total Current Assets 1.03b / Total Current Liabilities 359.8m)
Debt / Equity = 0.29 (Debt 219.4m / totalStockholderEquity, last quarter 759.9m)
Debt / EBITDA = 2.68 (negative EBITDA) (Net Debt -497.8m / EBITDA -185.6m)
Debt / FCF = 2.41 (negative FCF - burning cash) (Net Debt -497.8m / FCF TTM -206.8m)
Total Stockholder Equity = 800.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -17.84% (Net Income -206.8m / Total Assets 1.16b)
RoE = -25.82% (Net Income TTM -206.8m / Total Stockholder Equity 800.8m)
RoCE = -24.73% (EBIT -202.1m / Capital Employed (Equity 800.8m + L.T.Debt 16.3m))
RoIC = -20.80% (negative operating profit) (NOPAT -202.1m / Invested Capital 971.5m)
WACC = 8.67% (E(2.46b)/V(2.68b) * Re(9.39%) + D(219.4m)/V(2.68b) * Rd(0.64%) * (1-Tc(-0.0)))
Discount Rate = 9.39% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 1.55%
Fair Price DCF = unknown (Cash Flow -206.8m)
EPS Correlation: 57.94 | EPS CAGR: 15.50% | SUE: -0.34 | # QB: 0
Revenue Correlation: 94.81 | Revenue CAGR: 25.18% | SUE: -3.13 | # QB: 0

Additional Sources for ZLAB Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle