# Zenas BioPharma Inc. (ZBIO) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Healthcare / Biotechnology. Price $32.88, market value $2.1 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Zenas BioPharma Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 214.3×**. Each dollar of revenue is priced at 214.3×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 8.4×**. The shares trade at 8.4× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: -10.5%** (5-yr avg -60.7%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Return on equity: -156.0%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -144.0%**. Return on all capital, debt included, is -144.0%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -98.5%**. Each dollar of assets produces -98.5% of profit.

## Growth
- **Revenue growth (1 yr): 100.0%**. Revenue grew 100.0% over the last year.
- **EPS growth (1 yr): 29.0%**. Earnings per share rose 29.0%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.32**. Debt is 0.32 times equity: a conservative balance sheet.
- **Altman Z-score: 6.70**. A Z-score of 6.70 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 2/9**. 2 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Zenas BioPharma Inc. does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): 93.6%** (YTD -9.4%, 3-mo 88.2%). The shares are up 93.6% over twelve months including dividends.
- **From 52-week high: -26.3%** (143.6% above the low). Trading 26% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 56**. An RSI of 56 is neutral.
- **Beta (1 yr): 0.90** (volatility 109%). Beta of 0.90 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=ZBIO · Page: https://foliofundamentals.com/stocks/zbio

Not investment advice.