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 2,076 - -
Change - -51.37% -8.77% 6.15% -31.23% 5.83% - -
Enterprise Value (EV) 1 4,650 1,938 1,897 2,095 1,397 1,633 1,689 1,862
Change - -58.33% -2.13% 10.47% -33.34% 16.94% 3.43% 10.23%
P/E -8.29x -6.63x -7.9x -10.1x -11x -8.34x -9.91x -13.7x
PBR 4.35x - 3.34x 3.36x 2.73x 3.89x 4.18x 4.14x
PEG - 0.2x 0.3x 0.4x 0.3x -0.2x 0.6x 0.5x
Capitalization / Revenue 42x 13.7x 10.1x 7.15x 4.26x 4.63x 3.49x 2.75x
EV / Revenue 32.2x 9.01x 7.11x 5.25x 3.04x 3.64x 2.84x 2.46x
EV / EBITDA -6.7x -4.89x -5.3x -7.75x -6.51x -6.72x -10.6x -28x
EV / EBIT -6.64x -4.79x -5.17x -7.43x -6.09x -6.31x -9.72x -21.7x
EV / FCF -8.19x -4.94x -9.23x -9.5x -8.5x -9.29x -14.6x -26.5x
FCF Yield -12.2% -20.2% -10.8% -10.5% -11.8% -10.8% -6.86% -3.77%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -7.58 -4.63 -3.46 -2.6 -1.6 -2.215 -1.865 -1.347
Distribution rate - - - - - - - -
Net sales 1 144.3 215 266.7 399 460.2 448.7 595.6 755.9
EBITDA 1 -693.6 -396.1 -357.5 -270.3 -214.4 -243 -159.9 -66.57
EBIT 1 -700.1 -404.4 -366.6 -282.1 -229.4 -258.7 -173.7 -85.83
Net income 1 -704.5 -443.3 -334.6 -257.1 -175.5 -240.9 -156.5 -125.8
Net Debt 1 -1,409 -1,008 -791.3 -757.9 -565.3 -443.1 -387.2 -214.4
Reference price 2 62.85 30.70 27.33 26.19 17.64 18.48 18.48 18.48
Nbr of stocks (in thousands) 96,409 95,972 98,349 108,937 111,219 112,355 - -
Announcement Date 1/3/22 1/3/23 27/2/24 27/2/25 26/2/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-8.34x3.64x-6.72x-.--% 2.08B
15.86x3.43x9.24x0.64% 62.32B
26.63x5.4x15.8x0.59% 53.94B
32.01x10.82x20.41x-.--% 38.98B
-50.95x3.04x8.97x3.6% 37.89B
32.25x3.47x10.65x-.--% 29.48B
-6.86x9.58x-5.84x-.--% 23.55B
15.64x2.8x8.65x-.--% 20.71B
47.29x5.15x35.69x-.--% 16.71B
24.9x5.15x13.89x-.--% 16.02B
Average 12.84x 5.25x 11.07x 0.48% 30.17B
Weighted average by Cap. 13.35x 5.31x 12.35x 0.69%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  3. ZLAB Stock
  4. Valuation Zai Lab Limited
-40%: Exceptional extension
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