Zai Lab

HK$18.36As of Sun 8 Nov 2026, 12:00 UTC

HKEX:9688Healthcare

Country Hong Kong

PE (Fwd) —

TSR 6Y CAGR (18.52%)

Div yield —

ROE —

Biotechnology

Beta (5Y) 0.72

PE TTM —

TSR TTM (8.66%)

Mkt cap HK$25.45B

ROIC —

SE Grade™

—

Value

Quality

Moat

—

1Y Price

Reference

$20

10.00%

53.96%

Price below Reference Value

TTM

FYE 31 Dec USD

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

460.2

Revenue$M

—

144.3

215.0

266.7

399.0

460.2

546.3

33.63%

15.33

Revenue growth%

—

49.01

24.03

49.59

15.33

18.71

36.52

—

10.47

Gross margin%

—

(333.47)

(67.61)

(35.60)

4.17

10.47

18.77

(35.60)

(49.86)

Operating margin%

—

(485.10)

(188.04)

(141.19)

(70.71)

(49.86)

(40.58)

(141.19)

(38.15)

Net margin%

—

(488.16)

(206.14)

(125.46)

(64.44)

(38.15)

(29.34)

(125.46)

—

P/E ratio (avg)x

—

EV/EBITx

—

FCF yield (avg)%

—

FCF margin%

—

FCF / Net incomex

—

ROIC%

—

Return on equity%

—

Return on assets%

—

(0.16)

EPS$

—

(0.76)

(0.46)

(0.35)

(0.26)

(0.16)

(0.15)

—

38.32

EPS growth%

—

38.92

25.16

24.96

38.32

8.70

31.74

—

Bookvalue per sh$

—

FCF per share$

—

Dividend per sh$

—

Div yield (avg)%

—

Payout ratio%

—

1.095

Shares (diluted)B

—

0.930

0.958

0.966

0.989

1.095

◌1.095

4.18%

(10.70)

Buyback yield%

—

(3.03)

(0.87)

(2.39)

(10.70)

◌—

(2.71)

—

D/E ratiox

—

2.565

Enterprise value$B

—

11.93

3.650

2.938

2.017

3.448

2.565

(26.68%)

—

LT debt$M

—

Peers (US$2.865B)

Cap (US$)

InnoCare Pharma Limited

3.277B

13.49x

InSilico Medicine…

2.752B

—

Keymed Biosciences Inc.

2.604B

22.12x

ADMA Biologics, Inc.

2.824B

16.51x

Capital

TTM

10Y

Leveragex

—

EBIT/Intx

(44.05)

(84.60)

Own earn%

—

Sh yield%

(10.70)

(2.71)

Owners

Insiders/Inst%

—

Short interest%

—

SBC / revenue%

11.85

Record

10Y

Profitable years

0/5

Revenue growth years

4/4

EPS growth years

4/4

Dividend streakyrs

Op margin range%

−485–−50

$1 testx

—

Incr. ROIC%

—

Zai Lab Limited, a biopharmaceutical company, focuses on discovering, developing, and commercializing products that address medical conditions in the areas of oncology, immunology, neuroscience, and infectious diseases.

Growth vs revenue

Latest

Trend

4Y CAGR

Rel growth

Revenue

$460.2M

33.63%

1.00×

Cost of revenue

$412.0M

(9.91%)

0.21×

Operating expenses

$277.6M

6.13%

0.40×

Revenue by region

No breakdown available

Reinvestment returns

No breakdown available