# Zai Lab Limited American (ZLAB) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Healthcare / Biotechnology. Price $26.23, market value $2.9 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Zai Lab Limited American 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: 6.6×**. Each dollar of revenue is priced at 6.6×.
- **Price / book: 4.9×**. The shares trade at 4.9× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -4.7%** (5-yr avg -1.0%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Operating margin: -59.4%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -38.4%**. The company reported a net loss over the last twelve months.
- **Return on equity: -24.5%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -86.8%**. Return on all capital, debt included, is -86.8%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -16.1%**. Each dollar of assets produces -16.1% of profit.

## Growth
- **Revenue growth (1 yr): 15.0%** (3-yr 29.1%/yr, 5-yr 56.3%/yr). Revenue grew 15.0% over the last year, against 56.3% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 38.5%**. Earnings per share rose 38.5%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 0.29**. Debt is 0.29 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 1.9×**. It would take 1.9 years of operating earnings to repay net borrowings, within the comfortable range.
- **Altman Z-score: 4.47**. A Z-score of 4.47 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Zai Lab Limited American does not currently pay a dividend.

## Analyst view
- **Analyst consensus: strong_buy** (12 analysts). 12 analysts cover Zai Lab Limited American; the consensus is strong_buy, with an average price target of $33.14 (+26% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -12.6%** (YTD 48.7%, 3-mo 57.8%). The shares are down 12.6% over twelve months including dividends.
- **From 52-week high: -24.5%** (64.3% above the low). Trading 24% 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): 61**. An RSI of 61 is neutral.
- **Beta (1 yr): 1.03** (volatility 52%). Beta of 1.03 against the S&P 500: the shares move roughly with the market.

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

Not investment advice.