Company Valuation: Zai Lab Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 6,059 2,946 2,688 2,853 1,962 2,585 - -
Change - -51.37% -8.77% 6.15% -31.23% 31.78% - -
Enterprise Value (EV) 1 4,650 1,938 1,897 2,095 1,397 2,128 2,205 2,348
Change - -58.33% -2.13% 10.47% -33.34% 52.36% 3.61% 6.49%
P/E -8.29x -6.63x -7.9x -10.1x -11x -10.4x -10.4x -15.8x
PBR 4.35x - 3.34x 3.36x 2.73x 5.03x 6.6x 6.07x
PEG - 0.2x 0.3x 0.4x 0.3x -0.3x -51.63x 0.5x
Capitalization / Revenue 42x 13.7x 10.1x 7.15x 4.26x 5.97x 4.72x 3.62x
EV / Revenue 32.2x 9.01x 7.11x 5.25x 3.04x 4.92x 4.02x 3.29x
EV / EBITDA -6.7x -4.89x -5.3x -7.75x -6.51x -7.54x -9.26x -17.1x
EV / EBIT -6.64x -4.79x -5.17x -7.43x -6.09x -7.48x -9.35x -14.3x
EV / FCF -8.19x -4.94x -9.23x -9.5x -8.5x -12.1x -12.3x -19.2x
FCF Yield -12.2% -20.2% -10.8% -10.5% -11.8% -8.25% -8.1% -5.2%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -7.58 -4.63 -3.46 -2.6 -1.6 -2.209 -2.214 -1.46
Distribution rate - - - - - - - -
Net sales 1 144.3 215 266.7 399 460.2 432.7 548.2 713.6
EBITDA 1 -693.6 -396.1 -357.5 -270.3 -214.4 -282.2 -238 -137
EBIT 1 -700.1 -404.4 -366.6 -282.1 -229.4 -284.6 -235.8 -164.5
Net income 1 -704.5 -443.3 -334.6 -257.1 -175.5 -240.7 -219.6 -157.1
Net Debt 1 -1,409 -1,008 -791.3 -757.9 -565.3 -457.7 -380.8 -237.7
Reference price 2 62.85 30.70 27.33 26.19 17.64 23.03 23.03 23.03
Nbr of stocks (in thousands) 96,409 95,972 98,349 108,937 111,219 112,266 - -
Announcement Date 01/03/22 01/03/23 27/02/24 27/02/25 26/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
37.66x13.18x27.98x0.53% 1,143B
39.33x6.61x18.6x1.99% 647B
37.45x8.4x17.37x2.4% 506B
21.46x5.22x12.98x2.51% 384B
103.38x5.8x24.86x2.4% 350B
21.99x5.69x13.69x2.94% 293B
22.31x4.51x12.87x1.96% 265B
28.42x7.28x13.03x2.25% 242B
-45.78x7.1x27.53x2.07% 197B
Average 29.58x 7.09x 18.77x 2.12% 447.5B
Weighted average by Cap. 35.27x 8.35x 20.48x 1.8%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Zai Lab Limited

Historical PBR trend

Valuation ratios - PBR - Zai Lab Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Zai Lab Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Zai Lab Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - Zai Lab Limited