Zai Lab Limited
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
-23.0723.3723.9910.50
Price/Sales ratio
6.033.822.562.02
Earnings per Share (EPS)
$-1.54$1.52$1.48$3.38

Historical Multiples (2015 – 2023)

2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
-76.41-36.71-9.61-8.78-19.91-35.25-8.44-6.10-7.89-7.97-14.35
Price/Sales ratio
N/AN/AN/A9.43K281.25214.7040.4913.679.9016.44247.98
Price/Book Value ratio
-74.96-26.712.054.8612.398.984.232.813.313.3810.69
Price/Cash Flow ratio
-120.11-42.82-14.96-12.52-19.11-48.65-10.64-8.00-13.32-9.61-15.82
Price/Free Cash Flow ratio
-112.84-40.04-11.67-11.34-17.70-46.36-10.28-7.49-12.77-9.50-14.52
Price/Earnings Growth ratio
N/A-0.34-0.04-0.630.95-0.42-0.080.180.25-0.160.26
Dividend Yield
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Profitability Indicator Ratios
Gross Profit Margin
N/AN/AN/A66.32%71.12%65.81%63.80%65.57%64.07%65.57%68.47%
Operating Profit Margin
N/AN/AN/A-109514.01%-1564.88%-616.44%-485.10%-188.03%-137.43%-188.03%-55539.44%
Pretax Profit Margin
N/AN/AN/A-106980.45%-1496.51%-546.97%-487.42%-206.03%-125.45%-206.03%-54238.48%
Net Profit Margin
N/AN/AN/A-107433.56%-1412.16%-609.01%-479.82%-224.14%-125.45%-206.14%-54422.86%
Effective Tax Rate
-9.27%2.71%2.00%1.94%5.63%-11.34%1.55%-8.78%N/AN/A-2.85%
Return on Assets
-129.28%-42.19%-20.18%-46.05%-51.62%-22.97%-43.01%-39.50%-32.29%-36.33%-48.84%
Return On Equity
98.10%72.76%-21.42%-55.39%-62.22%-25.49%-50.17%-46.09%-42.03%-37.95%-58.80%
Return on Capital Employed
-163.51%-46.01%-21.63%-56.00%-65.86%-25.15%-49.40%-37.43%-43.99%-37.43%-60.93%
Liquidity Ratios
Current Ratio
N/AN/A19.105.516.2712.40N/AN/AN/A8.045.89
Quick Ratio
3.3516.2519.105.516.1412.267.687.814.407.555.82
Cash ratio
3.3316.2219.021.281.624.504.997.213.897.211.45
Days of Sales Outstanding
N/AN/AN/A253.76106.5638.50138.6282.4489.4082.4472.53
Days of Inventory outstanding
N/AN/AN/A32.00584.66286.66132.41155.93170.76155.93435.66
Operating Cycle
N/AN/AN/A285.76691.23325.16271.03238.37260.17176.25508.19
Days of Payables Outstanding
4.19K959.865.97K313.43K2.20K1.36K881.51325.33430.42325.331.78K
Cash Conversion Cycle
N/AN/AN/A-313.15K-1.51K-1.04K-610.47-86.96-170.25-204.44-157.33K
Debt Ratios
Debt Ratio
N/AN/AN/A0.010.010.000.000.000.000.140.01
Debt Equity Ratio
N/AN/AN/A0.010.020.000.000.000.000.160.01
Long-term Debt to Capitalization
N/AN/AN/AN/AN/AN/AN/AN/AN/A0.01N/A
Total Debt to Capitalization
N/AN/AN/A0.010.020.000.000.000.000.010.02
Interest Coverage Ratio
N/AN/AN/A-3.57K-693.50-1.66KN/AN/AN/A-42.40-2.13K
Cash Flow to Debt Ratio
N/AN/AN/A-26.77-29.61-41.50-92.66-52.14-27.89-18.02-28.19
Company Equity Multiplier
-0.75-1.721.061.201.201.101.161.161.301.161.18
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
N/AN/AN/A-753.46-14.71-4.41-3.80-1.70-0.74-1.70-384.08
Free Cash Flow / Operating Cash Flow Ratio
1.061.061.281.101.071.041.031.061.041.011.06
Cash Flow Coverage Ratio
N/AN/AN/A-26.77-29.61-41.50-92.66-52.14-27.89-18.02-28.19
Short Term Coverage Ratio
N/AN/AN/A-26.77-29.61-41.50-92.66-52.14-27.89-52.14-35.55
Dividend Payout Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A