MARKETS / NASDAQ / ZLAB
NASDAQ · PHARMACEUTICAL PREPARATIONS · LARGE CAP

ZAI LAB Limited ZLAB

11 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY
Revenue · FY2025
$457.2M
▲ 15.0% vs FY2024
EPS · FY25
$-0.16
Dividend / sh · FY25
Payout · FY25
ROE · FY25
-22.6%
Net margin · FY25
-38.4%
Dividend coverage
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Result
USD 457.2M
Revenue, FY2025 · full 11-year series below
Revenue Net income
0.20.40.60.5-0.220152018202120242025
0.20.40.60.5-0.22016201920222025

The company lost 38 cents on every revenue dollar this year.

Per share
USD -0.16
Diluted EPS, FY2025
EPS
0.40.81.2-0.1620152018202120242025
0.40.81.2-0.162016201920222025

The company pays no cash dividend.

Profitability
-22.6%
Return on equity, FY2025
ROE
0.250.50.751-22.6%20152018202120242025
0.250.50.751-22.6%2016201920222025
Operating margin-50.2%
Net margin-38.4%
Return on assets-14.9%

Each USD of equity lost 23 cents this year.

Returned to shareholders
returned in FY2025 · dividends + net buybacks
Dividends paid
Net buybacks
Share of profit
Consecutive raises

Growth
+56.3% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+29.1%
+56.3%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
1.11B
Shares outstanding, FY2025
0.011.1120152018202120242025
0.011.112016201920222025
Change, 5 years
Change, 10 years

A share split breaks the comparison across the period, so we leave it out.

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Balance sheet
USD 1.2B
total assets, end of FY2025
Total assetsUSD 1.2B
EquityUSD 715.5M
CashUSD 679.6M
Gross debtUSD 204.5M
Net debtUSD -475.0M
Current ratio2.45×

The company holds more cash than debt.

History
11 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
Revenue $B
0.5
0.4
0.3
0.2
0.1
0.0
0.0
0.0
·
·
·
Operating income $B
−0.2
−0.3
−0.4
−0.4
−0.7
−0.3
−0.2
−0.1
−0.1
−0.0
−0.0
EBITDA $B
−0.2
−0.3
−0.4
−0.4
−0.7
−0.3
−0.2
−0.1
−0.1
−0.0
−0.0
Income tax $B
−0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
·
·
Net income $B
−0.2
−0.3
−0.3
−0.4
−0.7
−0.3
−0.2
−0.1
−0.1
−0.0
−0.0
EPS, diluted $
−0.16
−0.26
−0.35
−4.63
−7.58
−3.46
−3.03
−2.64
−2.32
−3.97
−2.07
Dividend / sh $
·
·
·
·
·
·
·
·
·
·
·
Payout %
·
·
·
·
·
·
·
·
·
·
·
ROE %
−22.6
−31.4
−36.3
−36.6
−55.3
−36.7
−71.5
−57.2
−54.9
·
·
Shares out B
1.11
1.08
0.97
0.96
0.95
0.09
0.07
0.06
0.05
0.01
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
32 of 32
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed