Zai Lab Limited (ZLAB)
合理估值基本面
41
价格
$26.34
市值
$2.96B
第一部分 · 这家公司值多少
概览
Zai Lab Limited, a biopharmaceutical company, focuses on discovering, developing, and commercializing products that address medical conditions in the areas of oncology, immunology, neuroscience, and infectious diseases. Its commercial products include Zejula, an orally administered poly (ADP-ribose) polymerase 1/2 inhibitor for treating ovarian cancer; VYVGART, a human IgG1 antibody fragment for generalized myasthenia gravis and chronic inflammatory demyelinating polyneuropathy; NUZYRA for community-acquired bacterial pneumonia and acute bacterial skin and skin structure infections; Optune for glioblastoma multiforme; Qinlock for gastrointestinal stromal tumors; Xacduro for treating hospital-acquired and ventilator-associated bacterial pneumonia caused by a cinetobacter baumannii-calcoaceticus complex; and Augtyro for the treatment of ROS proto-oncogene 1 and non-small cell lung cancer. The company has a strategic collaboration with Tesaro, Inc., NovoCure Ltd., Deciphera Pharmaceuticals, LLC, Paratek Bermuda Ltd., argent BV, Turning Point Therapeutics, Inc., Entasis Therapeutics Holdings Inc., Karuna Therapeutics, Inc., Pfizer Inc., Amgen Inc., and with Boehringer Ingelheim GmbH. The company was incorporated in 2013 and is based in Pudong, China.
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Direct competitors
Who this company fights with for the same customers
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资产负债表与流动性
营收
$444M
最近12个月（截至2026/6/30）
净利润
$-188M
最近12个月（截至2026/6/30）
自由现金流
$-159M
股东权益合计
$716M
负债合计
$457M
流动比率
2.13
利息覆盖率
44.13
债务/EBITDA
-
每股收益
营收与净利润
自由现金流
收入构成
历史财务表
利润率变化
债务变化
债务负担有多重
增长一览表
增长 — 营业收入
公允价值估算
公允价值
$33.14
当前价格
$26.34
安全边际
+20.5%
公允价值区间
$31.48 - $34.80
所用估值方法之间的离散区间，并非经过统计校准的置信区间。
估算方法
估值指标
市盈率（P/E）
-
ROE
-24.5%
市净率（P/B）
48.70
P/FCF
-
毛利率
55.9%
ROIC
-32.3%
盈利能力雷达图
价值创造（经济护城河）
ROIC
-32.3%
WACC
7.9%
ROIC − WACC
-40.2 pp
ROIC 低于资本成本：公司每投入一美元都在毁灭价值。
基本面分析标准
通过（10）
- EPS shows upward trend
- Gross Margin 55.9%
- Debt/Equity ratio
- Current Ratio
- Interest Coverage
- Low reliance on intangibles
- Revenue Growth 5Y 56.5%
- Analyst Consensus 80% Buy
- Earnings Surprise avg 19.0%
- Net Margin Trend -42.4% vs -50.0%
未通过（10）
- Price CAGR 2.47%
- ROIC -32.3%
- P/B Ratio 48.70
- Operating Margin -59.5%
- Positive Free Cash Flow
- Return on Tangible Assets
- DCF valuation (Unknown)
- ROE -27.4%
- Share Dilution 10.9%
- Piotroski F-Score 3/9
不可用（7）
- P/FCF NaN
- Dividend Payout NaN%
- CapEx intensity
- Debt/EBITDA
- Price below Graham Number
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
Piotroski F-评分
存在严重财务隐患
盈利质量
低质量：需深入审查会计处理
股权稀释
正在发行新股，稀释所有权
机构持股
公司治理
管理团队
| 姓名 | 职位 | 年龄 |
|---|---|---|
| Dr. Ying Du Ph.D. | Founder, Chairperson & CEO | 59 |
| Dr. Rafael G. Amado M.D. | President and Head of Global Research & Development | 61 |
| Dr. Yajing Chen Ph.D. | Chief Financial Officer | 57 |
| Mr. Frazor Titus Edmondson III, J.D. | Chief Legal Officer & Corporate Secretary | 59 |
| Ms. Christine Chiou | Senior VP & Head of Investor Relations | - |
| Dr. James Yan DABT, M.D., Ph.D. | Chief Operating Officer of Global R&D | 61 |
| Dr. Shan He Ph.D. | Senior VP & Chief Business Officer | - |
第二部分 · 价格与买入时机
这一部分不判断公司是否值得拥有：它帮助你在基本面说服你之后，选择何时买入。包含：技术分析、潜力、历史回撤、Gamma 敞口。
损益历史
via SEC EDGAR
Latest News
Recent headlines for ZLAB, sourced from Markets Gazette.
- 2/26/2026NEUTRALZai Lab Q4 Earnings Summary & Key Takeaways
Zai Lab has released a summary of its fourth-quarter earnings, a crucial event for investors tracking the biopharmaceutical company's performance. While specific details regarding revenues, earnings per share, and future outlook were not disclosed in this preliminary note, market attention is now focused on the in-depth analysis of these figures. Investors will be keen to understand how Zai Lab's key drugs, such as Zejula and Optune, contributed to growth and what the forecasts are for 2026, especially concerning clinical developments and regulatory approvals. The significance of these 'key takeaways' lies in their potential to influence expectations and the stock's valuation in the short to medium term.
via Markets Gazette