Zai Lab (ZLAB) Financials

$30.29 -1.02 (-3.26%)

Closing price 05/30/2025 04:00 PM Eastern

Extended Trading

$30.14 -0.15 (-0.50%)

As of 05/30/2025 06:52 PM Eastern

Annual Income Statements for Zai Lab

This table shows Zai Lab's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	-257	-335	-443	-704	-269	-195	-139	-50	-38	-18
Consolidated Net Income / (Loss)	-257	-335	-443	-704	-269	-195	-139	-50	-38	-18
Net Income / (Loss) Continuing Operations	-257	-335	-443	-704	-269	-195	-139	-50	-38	-18
Total Pre-Tax Income	-257	-335	-443	-703	-268	-194	-138	-50	-38	-18
Total Operating Income	-282	-367	-404	-700	-302	-203	-142	-51	-39	-16
Total Gross Profit	251	171	141	92	32	9.24	0.09	0.00	0.00	0.00
Total Revenue	399	267	215	144	49	13	0.13	0.00	0.00	0.00
Operating Revenue	399	267	215	144	49	13	0.13	0.00	0.00	-
Total Cost of Revenue	148	96	74	52	17	3.75	0.04	0.00	0.00	0.00
Operating Cost of Revenue	148	96	74	52	17	3.75	0.04	0.00	0.00	-
Total Operating Expenses	533	537	545	792	334	212	142	51	39	16
Selling, General & Admin Expense	299	282	259	219	111	70	22	12	6.38	2.76
Research & Development Expense	235	266	286	573	223	142	120	39	32	14
Other Special Charges / (Income)	0.00	-10	0.00	-	-	-	-	-	-	-
Total Other Income / (Expense), net	25	32	-39	-3.35	34	8.88	3.28	1.26	1.02	-1.67
Interest Expense	2.25	0.00	0.00	-	0.18	0.29	0.04	0.00	0.00	-
Interest & Investment Income	37	40	15	2.19	5.12	8.23	3.26	0.53	0.40	0.01
Other Income / (Expense), net	-9.84	-7.84	-53	-5.54	29	0.94	0.06	0.73	0.61	-1.68
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Gains / (Losses), net	0.00	0.00	-0.22	-1.06	-1.12	-0.75	-0.59	-0.25	0.00	0.00
Basic Earnings per Share	($0.26)	($0.35)	($0.46)	($0.76)	($0.35)	($3.03)	($2.64)	($2.32)	($3.97)	($2.07)
Weighted Average Basic Shares Outstanding	989.48M	966.39M	958.07M	929.92M	776.68M	64.37M	52.61M	21.75M	9.44M	8.69M
Diluted Earnings per Share	($0.26)	($0.35)	($0.46)	($0.76)	($0.35)	($3.03)	($2.64)	($2.32)	($3.97)	($2.07)
Weighted Average Diluted Shares Outstanding	989.48M	966.39M	958.07M	929.92M	776.68M	64.37M	52.61M	21.75M	9.44M	8.69M
Weighted Average Basic & Diluted Shares Outstanding	1.93B	1.75B	1.72B	92.99M	77.67M	64.37M	52.61M	21.75M	9.44M	8.69M

This table shows Zai Lab's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-48	-82	-42	-80	-53	-95	-69	-121	-49	-62	-161
Consolidated Net Income / (Loss)	-48	-82	-42	-80	-53	-95	-69	-121	-49	-62	-161
Net Income / (Loss) Continuing Operations	-48	-82	-42	-80	-53	-95	-69	-121	-49	-62	-161
Total Pre-Tax Income	-48	-82	-42	-80	-53	-95	-69	-121	-49	-62	-161
Total Operating Income	-56	-68	-68	-76	-70	-124	-84	-90	-70	-97	-129
Total Gross Profit	68	67	65	65	54	41	44	45	41	42	37
Total Revenue	106	109	102	101	87	66	69	69	63	63	58
Operating Revenue	106	109	102	101	87	66	69	69	63	63	58
Total Cost of Revenue	39	42	37	35	34	25	25	24	21	21	20
Operating Cost of Revenue	39	42	37	35	34	25	25	24	21	21	20
Total Operating Expenses	124	135	133	141	124	165	127	135	111	139	166
Selling, General & Admin Expense	63	83	67	80	69	83	69	68	63	72	67
Research & Development Expense	61	52	66	62	55	82	59	77	48	67	100
Total Other Income / (Expense), net	7.87	-14	26	-4.21	17	29	14	-31	20	36	-33
Interest Expense	1.19	0.90	0.75	0.49	0.11	-	0.00	0.00	0.00	-	-
Interest & Investment Income	8.61	9.09	9.03	9.33	9.66	10	9.17	10	10	9.35	3.87
Other Income / (Expense), net	0.45	-22	18	-13	7.29	18	5.25	-41	10	26	-36
Income Tax Expense	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Basic Earnings per Share	($0.04)	($0.09)	($0.04)	($0.08)	($0.05)	($0.10)	($0.07)	($0.13)	($0.05)	($0.06)	($0.17)
Weighted Average Basic Shares Outstanding	1.08B	989.48M	981.69M	975.94M	973.15M	966.39M	968.77M	964.82M	961.44M	958.07M	959.09M
Diluted Earnings per Share	($0.04)	($0.09)	($0.04)	($0.08)	($0.05)	($0.10)	($0.07)	($0.13)	($0.05)	($0.06)	($0.17)
Weighted Average Diluted Shares Outstanding	1.08B	989.48M	981.69M	975.94M	973.15M	966.39M	968.77M	964.82M	961.44M	958.07M	959.09M
Weighted Average Basic & Diluted Shares Outstanding	1.57B	1.93B	1.76B	1.76B	1.75B	1.75B	1.74B	1.73B	1.72B	1.72B	1.72B

This table details how cash moves in and out of Zai Lab's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-240	-218	44	522	366	13	-167	146	71	6.01
Net Cash From Operating Activities	-215	-198	-368	-549	-216	-191	-98	-32	-32	-11
Net Cash From Continuing Operating Activities	-215	-198	-368	-549	-216	-191	-98	-33	-32	-11
Net Income / (Loss) Continuing Operations	-257	-335	-443	-704	-269	-195	-139	-50	-38	-18
Consolidated Net Income / (Loss)	-257	-335	-443	-704	-269	-195	-139	-50	-38	-18
Depreciation Expense	12	9.03	8.23	6.49	4.64	3.77	1.65	0.55	0.20	0.13
Amortization Expense	-2.82	-3.38	-2.60	-0.52	-0.31	-0.31	-0.31	-0.08	0.00	0.00
Non-Cash Adjustments To Reconcile Net Income	102	91	136	115	8.62	24	9.59	9.74	6.85	4.72
Changes in Operating Assets and Liabilities, net	-68	40	-66	34	40	-23	31	7.55	-1.69	1.71
Net Cash From Investing Activities	-375	-11	420	250	-555	-15	-213	-10	-2.73	-0.74
Net Cash From Continuing Investing Activities	-375	-11	420	250	-555	-15	-213	-10	-2.73	-0.74
Purchase of Property, Plant & Equipment	-5.66	-7.21	-25	-18	-10	-6.04	-10	-9.10	-2.22	-0.74
Acquisitions	-56	-1.28	-0.40	-31	-0.54	-1.37	-2.19	-1.92	-0.01	0.00
Purchase of Investments	-330	-134	-260	-445	-949	-278	-200	0.00	-0.50	0.00
Sale of Property, Plant & Equipment	0.03	0.12	0.00	0.00	0.00	0.00	-	0.08	0.00	0.00
Divestitures	0.00	10	0.00	0.00	-	-	-	-	-	-
Sale and/or Maturity of Investments	16	118	705	744	405	278	0.00	0.50	-	-
Other Investing Activities, net	0.00	3.89	0.00	0.00	-	-7.84	0.00	0.00	0.00	0.00
Net Cash From Financing Activities	350	-6.43	-1.73	820	1,132	219	144	188	106	18
Net Cash From Continuing Financing Activities	350	-6.43	-1.73	820	1,132	219	144	188	106	18
Repayment of Debt	-0.98	0.00	0.00	-	-6.53	-4.35	0.00	0.00	-	-
Repurchase of Common Equity	-1.28	0.00	0.00	-1.84	-5.38	-0.85	-0.69	-2.73	0.00	0.00
Issuance of Debt	132	0.00	0.00	-	-	7.25	3.64	0.00	0.00	-
Issuance of Common Equity	217	0.00	0.00	819	1,138	216	141	160	0.00	0.00
Other Financing Activities, net	3.20	-6.43	-1.73	3.16	6.66	1.06	0.20	1.07	0.00	0.00
Effect of Exchange Rate Changes	-0.31	-2.62	-6.27	1.12	4.86	0.09	-0.76	0.65	-0.52	-0.07
Cash Interest Paid	2.02	0.00	0.00	-	0.19	0.29	0.04	0.00	0.00	-

This table details how cash moves in and out of Zai Lab's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	308	-166	-14	-21	-39	0.67	-70	-20	-128	-111	439
Net Cash From Operating Activities	-62	-56	-27	-42	-90	-15	-55	-59	-69	-109	-126
Net Cash From Continuing Operating Activities	-62	-56	-27	-42	-90	-15	-55	-59	-69	-109	-126
Net Income / (Loss) Continuing Operations	-48	-82	-42	-80	-53	-95	-69	-121	-49	-62	-161
Consolidated Net Income / (Loss)	-48	-82	-42	-80	-53	-95	-69	-121	-49	-62	-161
Depreciation Expense	3.46	3.03	2.87	2.94	3.01	2.46	1.92	2.00	2.66	2.13	2.23
Amortization Expense	-1.33	-1.00	-0.84	-0.84	-0.14	-0.84	-0.83	-1.13	-0.58	-0.56	-0.66
Non-Cash Adjustments To Reconcile Net Income	20	43	5.27	36	18	6.64	20	54	10	-1.10	61
Changes in Operating Assets and Liabilities, net	-35	-19	7.54	0.38	-57	72	-7.25	7.04	-32	-48	-28
Net Cash From Investing Activities	326	-348	-30	-0.85	3.29	14	-14	43	-54	-4.37	568
Net Cash From Continuing Investing Activities	326	-348	-30	-0.85	3.29	14	-14	43	-54	-4.37	568
Purchase of Property, Plant & Equipment	-1.53	-2.60	-1.34	-0.74	-0.97	-0.22	-1.76	-1.72	-3.51	-4.41	-6.68
Acquisitions	-2.33	-15	-29	-0.13	-12	-0.62	-0.03	-0.63	-0.00	0.04	-0.33
Sale and/or Maturity of Investments	330	-	-	-	16	15	18	35	49	-	575
Net Cash From Financing Activities	43	238	42	22	48	0.39	-1.45	-1.49	-3.89	-0.20	0.71
Net Cash From Continuing Financing Activities	43	238	42	22	48	0.39	-1.45	-1.49	-3.89	-0.20	0.71
Repayment of Debt	-61	-0.00	-0.28	-	-0.70	-	-	-	0.00	-	-
Repurchase of Common Equity	-0.85	-	-	-	-	-	-	-	-	-	-
Issuance of Debt	102	20	41	22	48	-	-	-	0.00	-	-
Other Financing Activities, net	3.01	1.88	1.28	0.04	0.00	0.39	-1.45	-1.49	-3.89	-0.20	0.71
Effect of Exchange Rate Changes	0.02	-0.71	0.54	-0.03	-0.10	0.73	0.35	-2.41	-1.30	2.86	-3.99
Cash Interest Paid	1.10	0.85	0.67	0.45	0.05	-	-	-	0.00	-	-

This table presents Zai Lab's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016
Total Assets	1,186	1,036	1,220	1,610	1,298	355	302	250	89
Total Current Assets	1,050	940	1,124	1,501	1,216	292	269	231	84
Cash & Equivalents	450	790	1,008	964	442	76	63	230	84
Restricted Cash	100	0.00	-	-	-	-	-	-	-
Short-Term Investments	330	16	0.00	445	745	200	200	0.00	-
Note & Lease Receivable	4.23	6.13	8.61	7.34	0.00	-	-	-	-
Accounts Receivable	85	59	40	47	5.17	3.79	0.09	0.00	-
Inventories, net	40	45	32	19	13	6.01	0.00	0.00	-
Prepaid Expenses	42	23	36	18	11	6.74	5.75	0.95	0.14
Plant, Property, & Equipment, net	48	54	58	43	29	21	20	12	1.25
Total Noncurrent Assets	87	43	38	66	52	41	12	7.17	3.57
Long-Term Investments	3.12	9.22	6.43	16	1.28	2.40	3.15	1.65	0.50
Intangible Assets	56	13	1.51	1.85	1.53	1.15	0.32	0.02	0.01
Noncurrent Deferred & Refundable Income Taxes	1.35	0.00	-	24	22	14	8.04	5.06	1.38
Other Noncurrent Operating Assets	27	20	30	25	27	24	0.83	0.43	1.69
Total Liabilities & Shareholders' Equity	1,186	1,036	1,220	1,610	1,298	355	302	250	89
Total Liabilities	345	240	175	230	128	60	51	14	5.95
Total Current Liabilities	299	203	140	193	98	47	49	12	5.17
Short-Term Debt	132	0.00	-	-	-	6.45	3.64	0.00	-
Accounts Payable	101	113	66	126	63	23	37	8.97	0.52
Other Current Liabilities	67	90	74	67	35	18	7.77	3.10	4.65
Total Noncurrent Liabilities	45	37	35	37	30	14	2.06	2.39	0.78
Other Noncurrent Operating Liabilities	45	37	35	37	13	14	-	-	-
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	841	796	1,046	1,380	1,169	295	251	235	-52
Total Preferred & Common Equity	841	796	1,046	1,380	1,169	295	251	235	-52
Total Common Equity	841	796	1,046	1,380	1,169	295	251	235	-52
Common Stock	3,264	2,975	2,893	2,826	1,897	735	498	345	9.31
Retained Earnings	-2,453	-2,196	-1,861	-1,418	-714	-445	-250	-111	-60
Treasury Stock	-21	-21	-12	-4.28	0.00	-	-	-	-
Accumulated Other Comprehensive Income / (Loss)	51	38	26	-24	-15	4.62	2.66	0.45	-0.70

This table presents Zai Lab's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,173	985	987	988	1,044	1,106	1,170	1,299
Total Current Assets	1,042	861	870	889	960	1,018	1,072	1,210
Cash & Equivalents	757	616	630	651	789	859	880	1,119
Restricted Cash	100	100	100	100	-	-	-	-
Short-Term Investments	0.00	0.00	0.00	0.00	32	16	51	0.00
Note & Lease Receivable	11	19	8.10	15	24	21	17	10
Accounts Receivable	77	50	70	60	42	47	43	28
Inventories, net	53	40	42	38	44	36	38	29
Prepaid Expenses	44	36	20	24	30	38	43	22
Plant, Property, & Equipment, net	50	51	51	52	55	56	58	51
Total Noncurrent Assets	82	74	67	47	29	32	39	38
Intangible Assets	56	52	44	12	1.57	1.69	1.48	1.54
Other Noncurrent Operating Assets	26	18	19	21	23	26	31	33
Total Liabilities & Shareholders' Equity	1,173	985	987	988	1,044	1,106	1,170	1,299
Total Liabilities	363	318	283	226	163	174	169	193
Total Current Liabilities	320	286	252	192	125	133	125	156
Short-Term Debt	173	113	70	48	-	-	-	-
Accounts Payable	103	121	127	88	55	67	66	90
Other Current Liabilities	43	53	54	56	70	66	58	65
Total Noncurrent Liabilities	43	31	31	34	38	41	44	37
Other Noncurrent Operating Liabilities	43	6.44	31	34	10	41	44	14
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	811	668	704	762	881	932	1,001	1,106
Total Preferred & Common Equity	811	668	704	762	881	932	1,001	1,106
Total Common Equity	811	668	704	762	881	932	1,001	1,106
Common Stock	3,284	3,032	3,012	2,993	2,954	2,932	2,911	2,877
Retained Earnings	-2,502	-2,371	-2,330	-2,249	-2,101	-2,031	-1,911	-1,800
Treasury Stock	-21	-21	-21	-21	-21	-21	-17	-11
Accumulated Other Comprehensive Income / (Loss)	49	28	43	39	48	52	17	40

This table displays calculated financial ratios and metrics derived from Zai Lab's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	49.59%	24.03%	49.01%	194.77%	277.04%	9,965.89%	0.00%	0.00%	0.00%	0.00%
EBITDA Growth	23.28%	18.42%	35.39%	-160.67%	-35.01%	-41.63%	-179.67%	-33.07%	-110.70%	0.00%
EBIT Growth	22.02%	18.19%	35.14%	-158.72%	-34.84%	-42.73%	-179.72%	-67.23%	-110.33%	0.00%
NOPAT Growth	23.04%	9.34%	42.24%	-131.96%	-48.53%	-43.33%	-175.86%	-33.38%	-135.66%	0.00%
Net Income Growth	23.17%	24.51%	37.08%	-161.98%	-37.85%	-40.26%	-176.03%	-68.63%	-108.15%	0.00%
EPS Growth	25.71%	23.91%	39.47%	-117.14%	88.45%	-29.55%	-13.79%	41.56%	-91.79%	0.00%
Operating Cash Flow Growth	-8.42%	46.09%	33.06%	-154.21%	-13.11%	-95.83%	-201.35%	-1.30%	-180.49%	0.00%
Free Cash Flow Firm Growth	-48.71%	42.44%	22.74%	-173.35%	3.96%	-111.29%	-102.41%	-124.43%	0.00%	0.00%
Invested Capital Growth	559.40%	-163.70%	168.59%	-138.97%	-182.20%	294.24%	-403.80%	358.51%	0.00%	0.00%
Revenue Q/Q Growth	12.15%	1.23%	9.37%	25.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	5.44%	-10.34%	23.80%	-23.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	5.15%	-10.19%	23.58%	-23.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	16.58%	-7.85%	23.16%	-21.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	5.07%	-11.18%	25.29%	-23.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EPS Q/Q Growth	3.70%	-12.90%	-112.17%	71.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-23.48%	32.26%	10.62%	-24.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	-26.77%	33.64%	-1.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	46.24%	-134.85%	281.37%	-1,534.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	62.94%	64.08%	65.58%	63.80%	65.82%	142.26%	66.67%	0.00%	0.00%	0.00%
EBITDA Margin	-70.91%	-138.26%	-210.20%	-484.81%	-548.22%	-1,531.03%	-108,814.73%	0.00%	0.00%	0.00%
Operating Margin	-70.71%	-137.44%	-188.04%	-485.10%	-616.45%	-3,129.70%	-109,897.67%	0.00%	0.00%	0.00%
EBIT Margin	-73.17%	-140.38%	-212.82%	-488.94%	-557.06%	-3,115.26%	-109,851.94%	0.00%	0.00%	0.00%
Profit (Net Income) Margin	-64.44%	-125.46%	-206.14%	-488.16%	-549.26%	-1,502.28%	-107,810.08%	0.00%	0.00%	0.00%
Tax Burden Percent	100.00%	100.00%	100.05%	100.15%	100.42%	200.77%	100.42%	301.50%	100.00%	100.00%
Interest Burden Percent	88.06%	89.37%	96.81%	99.69%	98.19%	192.15%	97.73%	197.92%	98.94%	99.97%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-562.03%	-4,606.43%	0.00%	0.00%	-10,422.33%	-2,573.96%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-554.42%	-4,597.90%	0.00%	0.00%	-10,414.44%	-2,554.20%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	530.62%	4,570.09%	0.00%	0.00%	10,385.60%	5,004.95%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-31.41%	-36.34%	-36.55%	-55.27%	-36.74%	-71.49%	-57.20%	-63.35%	-45.22%	0.00%
Cash Return on Invested Capital (CROIC)	-341.61%	0.00%	-1,167.96%	0.00%	0.00%	-775.88%	0.00%	-1,070.53%	0.00%	0.00%
Operating Return on Assets (OROA)	-26.28%	-33.19%	-32.34%	-48.54%	-33.00%	-123.11%	-51.38%	0.00%	0.00%	0.00%
Return on Assets (ROA)	-23.14%	-29.66%	-31.33%	-48.46%	-32.54%	-118.74%	-50.42%	0.00%	0.00%	0.00%
Return on Common Equity (ROCE)	-31.41%	-36.34%	-36.55%	-55.27%	-36.74%	-142.97%	-57.20%	-36.57%	28.10%	0.00%
Return on Equity Simple (ROE_SIMPLE)	-30.57%	-42.03%	-42.40%	-51.05%	-23.00%	-132.40%	-55.39%	-42.85%	72.77%	0.00%
Net Operating Profit after Tax (NOPAT)	-197	-257	-283	-490	-211	-142	-99	-36	-27	-11
NOPAT Margin	-49.50%	-96.21%	-131.63%	-339.57%	-431.51%	-1,095.40%	-76,928.37%	0.00%	0.00%	0.00%
Net Nonoperating Expense Percent (NNEP)	-7.61%	-8.52%	-13.14%	-16.41%	-7.90%	-19.76%	-16.12%	-18.25%	-24.97%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	-20.30%	-32.23%	-27.07%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	37.06%	35.92%	34.42%	36.20%	34.18%	57.74%	33.33%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	74.87%	105.58%	120.43%	151.64%	227.36%	1,081.42%	16,725.58%	0.00%	0.00%	0.00%
R&D to Revenue	58.77%	99.68%	133.19%	397.27%	454.90%	1,095.27%	93,238.76%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	133.65%	201.51%	253.62%	548.91%	682.26%	1,635.98%	109,964.34%	0.00%	0.00%	0.00%
Earnings before Interest and Taxes (EBIT)	-292	-374	-458	-706	-273	-202	-142	-51	-38	-18
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-283	-369	-452	-700	-268	-199	-140	-50	-38	-18
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	54.79	59.83	50.58	7.53	7.91	17.89	4.68	1.96	0.00	0.00
Price to Tangible Book Value (P/TBV)	58.70	60.85	50.65	7.54	7.92	17.96	4.68	1.96	0.00	0.00
Price to Revenue (P/Rev)	115.47	178.58	245.93	71.99	189.02	393.08	9,100.06	0.00	0.00	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	504.51	0.00	1,689.94	0.00	0.00	207.51	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	113.58	175.52	241.22	62.12	164.75	165.97	7,062.78	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.16	0.00	0.00	0.00	0.00	0.04	0.01	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.96	-0.99	-1.01	-1.02	-1.00	-1.90	-1.02	-1.98	-1.02	0.00
Leverage Ratio	1.36	1.23	1.17	1.14	1.13	2.41	1.13	2.13	1.07	0.00
Compound Leverage Factor	1.20	1.10	1.13	1.14	1.11	2.31	1.11	2.11	1.06	0.00
Debt to Total Capital	13.54%	0.00%	0.00%	0.00%	0.00%	4.28%	1.43%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	13.54%	0.00%	0.00%	0.00%	0.00%	4.28%	1.43%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	162.14%	0.00%
Common Equity to Total Capital	86.46%	100.00%	100.00%	100.00%	100.00%	195.72%	98.57%	200.00%	-62.14%	0.00%
Debt to EBITDA	-0.47	0.00	0.00	0.00	0.00	-0.06	-0.03	0.00	0.00	0.00
Net Debt to EBITDA	2.65	0.00	0.00	0.00	0.00	2.74	1.87	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	-0.67	0.00	0.00	0.00	0.00	-0.09	-0.04	0.00	0.00	0.00
Net Debt to NOPAT	3.80	0.00	0.00	0.00	0.00	3.82	2.65	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	77.54	115.94	179.57	25.49	42.89	46.75	12.01	18.92	0.00	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	84.56%	162.14%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.51	4.63	8.04	7.78	12.40	12.54	5.51	38.22	16.25	0.00
Quick Ratio	2.90	4.29	7.56	7.59	12.16	12.00	5.39	38.06	16.23	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-307	-206	-358	-464	-170	-177	-84	-41	-25	0.00
Operating Cash Flow to CapEx	-3,817.86%	-2,795.18%	-1,495.39%	-3,002.57%	-2,132.82%	-6,330.11%	-973.92%	-717.73%	-1,446.03%	-1,552.52%
Free Cash Flow to Firm to Interest Expense	-136.14	0.00	0.00	0.00	-937.87	-1,206.45	-2,091.23	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-95.33	0.00	0.00	0.00	-1,193.67	-651.91	-2,438.45	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-97.82	0.00	0.00	0.00	-1,249.64	-1,345.02	-2,688.83	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.36	0.24	0.15	0.10	0.06	0.04	0.00	0.00	0.00	0.00
Accounts Receivable Turnover	5.53	5.38	4.92	5.48	10.93	13.38	0.00	0.00	0.00	0.00
Inventory Turnover	3.49	2.51	2.93	3.26	1.75	1.25	0.00	0.00	0.00	0.00
Fixed Asset Turnover	7.85	4.78	4.26	3.99	1.94	0.62	0.01	0.00	0.00	0.00
Accounts Payable Turnover	1.38	1.07	0.77	0.55	0.39	0.12	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	66.04	67.85	74.21	66.57	33.39	54.55	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	104.55	145.61	124.69	112.13	208.81	585.03	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	264.01	340.87	473.74	659.60	930.18	5,850.51	196,928.90	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-93.42	-127.41	-274.84	-480.90	-687.98	-2,578.20	-196,928.90	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	90	-20	31	-45	-19	23	-12	3.86	-1.49	0.00
Invested Capital Turnover	11.36	47.88	-30.60	-4.55	24.15	2.35	-0.03	0.00	0.00	0.00
Increase / (Decrease) in Invested Capital	109	-50	75	-26	-42	35	-16	5.35	-1.49	0.00
Enterprise Value (EV)	45,319	46,815	51,871	8,965	8,066	2,155	911	231	0.00	0.00
Market Capitalization	46,070	47,630	52,886	10,389	9,254	5,271	1,174	462	0.00	0.00
Book Value per Share	$0.48	$0.82	$0.61	$8.35	$17.10	$5.05	$4.97	$10.81	($5.46)	$0.00
Tangible Book Value per Share	$0.45	$0.81	$0.61	$8.34	$17.08	$5.03	$4.96	$10.81	($5.46)	$0.00
Total Capital	973	796	1,046	1,380	1,169	301	255	235	83	0.00
Total Debt	132	0.00	0.00	0.00	0.00	6.45	3.64	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-751	-816	-1,015	-1,425	-1,188	-272	-263	-231	-84	0.00
Capital Expenditures (CapEx)	5.63	7.09	25	18	10	6.04	10	9.02	2.22	0.74
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3.14	-70	-24	-101	-69	-24	-39	-11	-5.03	0.00
Debt-free Net Working Capital (DFNWC)	883	737	984	1,308	1,118	252	224	219	79	0.00
Net Working Capital (NWC)	751	737	984	1,308	1,118	246	220	219	79	0.00
Net Nonoperating Expense (NNE)	60	78	160	214	58	53	40	14	11	6.58
Net Nonoperating Obligations (NNO)	-751	-816	-1,015	-1,425	-1,188	-272	-263	-231	-84	0.00
Total Depreciation and Amortization (D&A)	9.04	5.65	5.63	5.97	4.33	3.45	1.34	0.47	0.20	0.13
Debt-free, Cash-free Net Working Capital to Revenue	0.79%	-26.21%	-11.15%	-70.07%	-140.53%	-182.16%	-30,508.53%	0.00%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	221.26%	276.15%	457.82%	906.36%	2,283.58%	3,885.70%	173,601.55%	0.00%	0.00%	0.00%
Net Working Capital to Revenue	188.25%	276.15%	457.82%	906.36%	2,283.58%	3,786.35%	170,777.52%	0.00%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.26)	($0.35)	($0.46)	($7.58)	($3.46)	($3.03)	($2.64)	($2.32)	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	989.48M	966.39M	958.07M	167.45M	88.59M	68.38M	58.36M	50.56M	0.00	0.00
Adjusted Diluted Earnings per Share	($0.26)	($0.35)	($0.46)	($7.58)	($3.46)	($3.03)	($2.64)	($2.32)	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	989.48M	966.39M	958.07M	167.45M	88.59M	68.38M	58.36M	50.56M	0.00	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	($7.58)	($3.46)	($3.03)	($2.64)	($2.32)	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.93B	1.75B	1.72B	92.99M	77.67M	64.37M	52.61M	21.75M	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	-197	-264	-283	-490	-211	-142	-99	-36	-27	-11
Normalized NOPAT Margin	-49.50%	-98.83%	-131.63%	-339.57%	-431.51%	-2,190.79%	-76,928.37%	0.00%	0.00%	0.00%
Pre Tax Income Margin	-64.44%	-125.46%	-206.04%	-487.43%	-546.97%	-2,992.98%	-107,355.04%	0.00%	0.00%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-129.53	0.00	0.00	0.00	-1,506.77	-690.30	-3,542.73	0.00	0.00	0.00
NOPAT to Interest Expense	-87.61	0.00	0.00	0.00	-1,167.19	-485.45	-2,480.94	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-132.02	0.00	0.00	0.00	-1,562.73	-1,421.80	-3,793.10	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-90.11	0.00	0.00	0.00	-1,223.15	-506.05	-2,731.32	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.50%	0.00%	0.00%	-0.26%	-2.00%	-0.88%	-0.50%	-8.13%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Zai Lab's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	22.19%	65.68%	47.72%	45.95%	38.78%	5.16%	20.31%	42.94%	34.40%	41.72%	33.49%
EBITDA Growth	10.66%	15.63%	37.95%	33.13%	-4.96%	-49.69%	52.76%	5.66%	29.31%	67.00%	14.16%
EBIT Growth	11.36%	15.00%	36.22%	31.97%	-6.13%	-48.68%	52.55%	5.84%	27.91%	66.51%	14.73%
NOPAT Growth	19.91%	45.24%	18.81%	15.01%	-1.13%	-27.43%	35.01%	9.33%	12.84%	55.61%	-54.54%
Net Income Growth	9.41%	14.40%	39.74%	33.60%	-8.80%	-54.49%	57.10%	12.35%	40.35%	70.84%	-67.19%
EPS Growth	20.00%	10.00%	42.86%	38.46%	0.00%	-66.67%	58.82%	7.14%	44.44%	-101.44%	-70.00%
Operating Cash Flow Growth	31.53%	-273.86%	51.47%	28.16%	-30.05%	86.35%	56.25%	-30.74%	20.48%	28.56%	21.48%
Free Cash Flow Firm Growth	-292.16%	-329.41%	59.85%	74.64%	75.43%	74.55%	-76.66%	24.41%	-158.95%	-12.66%	-30.91%
Invested Capital Growth	178.57%	559.40%	9.48%	-23.18%	-28.80%	-163.70%	431.54%	212.35%	605.06%	168.59%	-1,136.16%
Revenue Q/Q Growth	-2.37%	6.65%	1.75%	15.32%	32.38%	-4.91%	0.53%	9.66%	0.31%	8.79%	19.44%
EBITDA Q/Q Growth	38.83%	-83.29%	44.92%	-44.67%	42.23%	-34.79%	40.64%	-127.09%	17.61%	57.46%	-18.54%
EBIT Q/Q Growth	37.85%	-79.90%	43.94%	-41.42%	40.40%	-34.99%	40.20%	-120.60%	16.51%	56.92%	-18.66%
NOPAT Q/Q Growth	17.06%	-0.06%	10.79%	-8.19%	43.29%	-48.35%	6.63%	-28.74%	28.54%	24.33%	-30.26%
Net Income Q/Q Growth	40.70%	-96.02%	48.09%	-50.13%	43.97%	-38.00%	42.80%	-146.00%	20.44%	61.68%	-16.86%
EPS Q/Q Growth	55.56%	-125.00%	50.00%	-60.00%	50.00%	-42.86%	46.15%	-160.00%	16.67%	64.71%	-21.43%
Operating Cash Flow Q/Q Growth	-10.63%	-107.93%	36.40%	53.20%	-504.05%	73.01%	5.84%	15.28%	36.60%	13.48%	-181.34%
Free Cash Flow Firm Q/Q Growth	23.04%	-197.09%	-28.60%	-33.37%	15.72%	72.22%	18.78%	-29.23%	12.71%	-92.80%	65.25%
Invested Capital Q/Q Growth	41.27%	46.24%	52.21%	-11.41%	332.97%	-134.85%	6.81%	-17.89%	108.43%	281.37%	63.81%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	63.71%	61.41%	63.90%	64.94%	61.42%	61.66%	63.20%	65.49%	66.02%	66.58%	65.17%
EBITDA Margin	-50.46%	-80.53%	-46.86%	-86.58%	-69.01%	-158.15%	-111.57%	-188.96%	-91.25%	-111.10%	-284.13%
Operating Margin	-52.88%	-62.25%	-66.35%	-75.68%	-80.68%	-188.33%	-120.72%	-129.97%	-110.71%	-155.42%	-223.47%
EBIT Margin	-52.45%	-82.39%	-48.85%	-88.67%	-72.31%	-160.61%	-113.14%	-190.21%	-94.55%	-113.60%	-286.86%
Profit (Net Income) Margin	-45.49%	-74.89%	-40.75%	-79.87%	-61.36%	-144.96%	-99.89%	-175.56%	-78.26%	-98.67%	-280.14%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	86.72%	90.89%	83.42%	90.08%	84.85%	90.26%	88.29%	92.30%	82.77%	86.86%	97.65%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-179.59%	-494.77%	-281.16%	-368.11%	-300.16%	-6,312.27%	-1,136.45%	-7,933.58%	-698.14%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-178.30%	-490.41%	-281.98%	-364.61%	-299.64%	-6,311.33%	-1,135.36%	-7,928.13%	-698.10%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	158.75%	469.35%	260.58%	343.92%	281.03%	6,273.15%	1,112.97%	7,906.78%	682.59%	0.00%	0.00%
Return on Equity (ROE)	-20.84%	-25.41%	-20.59%	-24.20%	-19.13%	-39.12%	-23.49%	-26.80%	-15.55%	-36.55%	-44.05%
Cash Return on Invested Capital (CROIC)	-312.01%	-341.61%	-411.91%	-507.22%	-435.92%	0.00%	-554.21%	-701.90%	-551.02%	-1,167.96%	0.00%
Operating Return on Assets (OROA)	-20.30%	-29.59%	-17.13%	-27.33%	-19.50%	-37.97%	-25.46%	-37.93%	-16.36%	-17.26%	-37.27%
Return on Assets (ROA)	-17.60%	-26.89%	-14.29%	-24.62%	-16.55%	-34.27%	-22.47%	-35.01%	-13.54%	-14.99%	-36.40%
Return on Common Equity (ROCE)	-20.84%	-25.41%	-20.59%	-24.20%	-19.13%	-39.12%	-23.49%	-26.80%	-15.55%	-36.55%	-44.11%
Return on Equity Simple (ROE_SIMPLE)	-31.09%	0.00%	-40.57%	-42.37%	-44.47%	0.00%	-34.16%	-42.15%	-40.95%	0.00%	-53.65%
Net Operating Profit after Tax (NOPAT)	-39	-48	-47	-53	-49	-87	-58	-63	-49	-68	-90
NOPAT Margin	-37.02%	-43.57%	-46.45%	-52.98%	-56.47%	-131.83%	-84.50%	-90.98%	-77.50%	-108.80%	-156.43%
Net Nonoperating Expense Percent (NNEP)	-1.29%	-4.36%	0.81%	-3.50%	-0.51%	-0.94%	-1.09%	-5.45%	-0.04%	0.52%	-3.31%
Return On Investment Capital (ROIC_SIMPLE)	-4.01%	-4.89%	-	-	-	-10.90%	-	-	-	-6.51%	-
Cost of Revenue to Revenue	36.29%	38.59%	36.10%	35.06%	38.58%	38.34%	36.80%	34.51%	33.98%	33.42%	34.83%
SG&A Expenses to Revenue	59.56%	75.75%	65.73%	79.31%	79.40%	125.51%	99.02%	98.63%	99.54%	115.05%	115.67%
R&D to Revenue	57.03%	47.91%	64.52%	61.32%	62.70%	124.48%	84.89%	111.35%	77.19%	106.94%	172.96%
Operating Expenses to Revenue	116.59%	123.65%	130.25%	140.63%	142.10%	250.00%	183.91%	195.46%	176.73%	222.00%	288.63%
Earnings before Interest and Taxes (EBIT)	-56	-90	-50	-89	-63	-106	-78	-131	-59	-71	-165
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-54	-88	-48	-87	-60	-104	-77	-130	-57	-70	-163
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	85.96	54.79	63.57	43.07	36.79	59.83	47.84	51.24	57.22	50.58	53.27
Price to Tangible Book Value (P/TBV)	92.36	58.70	68.90	45.95	37.40	60.85	47.93	51.33	57.31	50.65	53.35
Price to Revenue (P/Rev)	166.60	115.47	119.31	93.99	96.33	178.58	159.96	189.71	247.91	245.93	299.65
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	543.83	504.51	681.11	735.13	599.77	0.00	736.51	892.61	880.93	1,689.94	0.00
Enterprise Value to Revenue (EV/Rev)	164.96	113.58	117.60	91.93	93.87	175.52	156.83	186.22	243.86	241.22	293.94
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.21	0.16	0.17	0.10	0.06	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.89	-0.96	-0.92	-0.94	-0.94	-0.99	-0.98	-1.00	-0.98	-1.01	-1.60
Leverage Ratio	1.37	1.36	1.31	1.28	1.22	1.23	1.18	1.18	1.16	1.17	1.12
Compound Leverage Factor	1.19	1.23	1.09	1.15	1.04	1.11	1.04	1.09	0.96	1.01	1.10
Debt to Total Capital	17.62%	13.54%	14.47%	9.08%	5.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	17.62%	13.54%	14.47%	9.08%	5.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	82.38%	86.46%	85.53%	90.92%	94.04%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	-0.63	-0.47	-0.38	-0.21	-0.13	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	2.47	2.65	2.03	2.02	1.93	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	-0.92	-0.67	-0.48	-0.28	-0.19	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	3.64	3.80	2.56	2.68	2.79	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	113.28	78.11	77.69	61.74	72.09	116.80	153.57	162.89	202.34	180.61	182.26
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.13%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.26	3.51	3.01	3.46	4.63	4.63	7.68	7.63	8.61	8.04	7.78
Quick Ratio	2.64	2.90	2.39	2.81	3.78	4.29	7.09	7.07	7.96	7.56	7.44
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-121	-157	-53	-41	-31	-37	-132	-162	-125	-144	-74
Operating Cash Flow to CapEx	-4,022.10%	-2,144.96%	-1,998.58%	-5,923.17%	-9,251.13%	-6,719.37%	-3,165.64%	-3,410.92%	-2,037.25%	-2,476.59%	-1,889.93%
Free Cash Flow to Firm to Interest Expense	-101.74	-173.57	-70.89	-83.48	-272.51	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-51.98	-61.69	-36.00	-85.72	-797.40	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-53.27	-64.57	-37.80	-87.16	-806.02	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.39	0.36	0.35	0.31	0.27	0.24	0.23	0.20	0.17	0.15	0.13
Accounts Receivable Turnover	6.11	5.53	7.77	5.52	5.61	5.38	7.60	6.77	6.02	4.92	8.07
Inventory Turnover	3.36	3.49	3.13	3.06	2.84	2.51	2.49	2.88	2.72	2.93	3.59
Fixed Asset Turnover	8.20	7.85	6.71	6.03	5.26	4.78	4.98	4.90	4.46	4.26	4.49
Accounts Payable Turnover	1.60	1.38	1.49	1.23	1.40	1.07	1.26	0.98	0.97	0.77	1.06
Days Sales Outstanding (DSO)	59.76	66.04	46.97	66.12	65.06	67.85	48.02	53.88	60.60	74.21	45.25
Days Inventory Outstanding (DIO)	108.51	104.55	116.71	119.36	128.74	145.61	146.31	126.57	134.38	124.69	101.56
Days Payable Outstanding (DPO)	228.16	264.01	244.72	296.68	260.81	340.87	289.46	372.08	376.67	473.74	345.29
Cash Conversion Cycle (CCC)	-59.89	-93.42	-81.04	-111.20	-67.01	-127.41	-95.13	-191.63	-181.70	-274.84	-198.47
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	127	90	61	40	46	-20	56	53	64	31	-17
Invested Capital Turnover	4.85	11.36	6.05	6.95	5.32	47.88	13.45	87.20	9.01	-30.60	-21.50
Increase / (Decrease) in Invested Capital	81	109	5.32	-12	-18	-50	73	99	77	75	-16
Enterprise Value (EV)	69,009	45,319	41,836	29,667	27,321	46,815	41,324	46,890	56,359	51,871	57,792
Market Capitalization	69,693	46,070	42,443	30,331	28,038	47,630	42,148	47,769	57,296	52,886	58,915
Book Value per Share	$0.42	$0.48	$0.38	$0.40	$0.44	$0.82	$0.51	$0.54	$0.58	$0.61	$0.64
Tangible Book Value per Share	$0.39	$0.45	$0.35	$0.38	$0.43	$0.81	$0.51	$0.54	$0.58	$0.61	$0.64
Total Capital	984	973	781	774	810	796	881	932	1,001	1,046	1,106
Total Debt	173	132	113	70	48	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-684	-751	-606	-664	-717	-816	-825	-880	-937	-1,015	-1,123
Capital Expenditures (CapEx)	1.53	2.60	1.34	0.71	0.97	0.22	1.75	1.72	3.40	4.41	6.68
Debt-free, Cash-free Net Working Capital (DFCFNWC)	38	3.14	-29	-42	-5.97	-70	14	9.50	17	-24	-65
Debt-free Net Working Capital (DFNWC)	895	883	687	689	745	737	835	884	948	984	1,054
Net Working Capital (NWC)	722	751	574	618	697	737	835	884	948	984	1,054
Net Nonoperating Expense (NNE)	9.02	34	-5.83	27	4.25	8.64	11	58	0.48	-6.34	71
Net Nonoperating Obligations (NNO)	-684	-751	-606	-664	-717	-816	-825	-880	-937	-1,015	-1,123
Total Depreciation and Amortization (D&A)	2.13	2.03	2.03	2.10	2.87	1.62	1.09	0.86	2.08	1.57	1.57
Debt-free, Cash-free Net Working Capital to Revenue	9.13%	0.79%	-8.11%	-12.87%	-2.05%	-26.21%	5.48%	3.77%	7.50%	-11.15%	-33.16%
Debt-free Net Working Capital to Revenue	214.06%	221.26%	193.18%	213.35%	255.89%	276.15%	316.84%	351.13%	410.08%	457.82%	536.23%
Net Working Capital to Revenue	172.61%	188.25%	161.42%	191.57%	239.30%	276.15%	316.84%	351.13%	410.08%	457.82%	536.23%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.04)	($0.09)	($0.04)	($0.08)	($0.05)	($0.10)	($0.07)	($0.13)	($0.05)	($0.06)	($0.17)
Adjusted Weighted Average Basic Shares Outstanding	1.08B	989.48M	981.69M	975.94M	973.15M	966.39M	968.77M	964.82M	961.44M	958.07M	959.09M
Adjusted Diluted Earnings per Share	($0.04)	($0.09)	($0.04)	($0.08)	($0.05)	($0.10)	($0.07)	($0.13)	($0.05)	($0.06)	($0.17)
Adjusted Weighted Average Diluted Shares Outstanding	1.08B	989.48M	981.69M	975.94M	973.15M	966.39M	968.77M	964.82M	961.44M	958.07M	959.09M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.57B	1.93B	1.76B	1.76B	1.75B	1.75B	1.74B	1.73B	1.72B	1.72B	1.72B
Normalized Net Operating Profit after Tax (NOPAT)	-39	-48	-47	-53	-49	-87	-58	-70	-49	-68	-90
Normalized NOPAT Margin	-37.02%	-43.57%	-46.45%	-52.98%	-56.47%	-131.83%	-84.50%	-101.14%	-77.50%	-108.80%	-156.43%
Pre Tax Income Margin	-45.49%	-74.89%	-40.75%	-79.87%	-61.36%	-144.96%	-99.89%	-175.56%	-78.26%	-98.67%	-280.14%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-47.06	-99.41	-67.05	-181.13	-557.66	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-33.21	-52.57	-63.75	-108.22	-435.54	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-48.35	-102.29	-68.86	-182.58	-566.28	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-34.50	-55.45	-65.56	-109.67	-444.16	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.85%	-0.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Zai Lab's Financials

When does Zai Lab's fiscal year end?

According to the most recent income statement we have on file, Zai Lab's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Zai Lab's net income changed over the last 9 years?

Zai Lab's net income appears to be on an upward trend, with a most recent value of -$257.10 million in 2024, rising from -$18.02 million in 2015. The previous period was -$334.62 million in 2023. See Zai Lab's forecast for analyst expectations on what’s next for the company.

What is Zai Lab's operating income?

Zai Lab's total operating income in 2024 was -$282.12 million, based on the following breakdown:

Total Gross Profit: $251.13 million
Total Operating Expenses: $533.25 million

How has Zai Lab revenue changed over the last 9 years?

Over the last 9 years, Zai Lab's total revenue changed from $0.00 in 2015 to $398.99 million in 2024, a change of 39,898,800,000.0%.

How much debt does Zai Lab have?

Zai Lab's total liabilities were at $344.86 million at the end of 2024, a 43.6% increase from 2023, and a 5,694.0% increase since 2016.

How much cash does Zai Lab have?

In the past 8 years, Zai Lab's cash and equivalents has ranged from $62.95 million in 2018 to $1.01 billion in 2022, and is currently $449.67 million as of their latest financial filing in 2024.

How has Zai Lab's book value per share changed over the last 9 years?

Over the last 9 years, Zai Lab's book value per share changed from 0.00 in 2015 to 0.48 in 2024, a change of 47.8%.

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This page (NASDAQ:ZLAB) was last updated on 5/31/2025 by MarketBeat.com Staff

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Zai Lab (ZLAB) Financials

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Zai Lab (ZLAB) Financials

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