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 2,766 - -
Change - -51.37% -8.77% 6.15% -31.23% 40.99% - -
Enterprise Value (EV) 1 4,650 1,938 1,897 2,095 1,397 2,127 2,292 2,446
Change - -58.33% -2.13% 10.47% -33.34% 52.33% 7.75% 6.72%
P/E -8.29x -6.63x -7.9x -10.1x -11x -13.2x -11.5x -21x
PBR 4.35x - 3.34x 3.36x 2.73x 3.81x 6.62x 6.24x
PEG - 0.2x 0.3x 0.4x 0.3x -0.8x -0.8x 0.5x
Capitalization / Revenue 42x 13.7x 10.1x 7.15x 4.26x 6.3x 5.15x 3.89x
EV / Revenue 32.2x 9.01x 7.11x 5.25x 3.04x 4.84x 4.26x 3.44x
EV / EBITDA -6.7x -4.89x -5.3x -7.75x -6.51x -7.95x -9.67x -14.3x
EV / EBIT -6.64x -4.79x -5.17x -7.43x -6.09x -7.63x -9.94x -13.8x
EV / FCF -8.19x -4.94x -9.23x -9.5x -8.5x -12.1x -13.2x -21.2x
FCF Yield -12.2% -20.2% -10.8% -10.5% -11.8% -8.25% -7.57% -4.71%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -7.58 -4.63 -3.46 -2.6 -1.6 -1.869 -2.13 -1.174
Distribution rate - - - - - - - -
Net sales 1 144.3 215 266.7 399 460.2 439.1 537.5 711
EBITDA 1 -693.6 -396.1 -357.5 -270.3 -214.4 -267.8 -236.9 -171.5
EBIT 1 -700.1 -404.4 -366.6 -282.1 -229.4 -278.8 -230.6 -177
Net income 1 -704.5 -443.3 -334.6 -257.1 -175.5 -213.5 -218.2 -140.1
Net Debt 1 -1,409 -1,008 -791.3 -757.9 -565.3 -638.7 -473.9 -319.7
Reference price 2 62.85 30.70 27.33 26.19 17.64 24.60 24.60 24.60
Nbr of stocks (in thousands) 96,409 95,972 98,349 108,937 111,219 112,445 - -
Announcement Date 3/1/22 3/1/23 2/27/24 2/27/25 2/26/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
42.25x14.3x30.31x0.47% 1,286B
41.82x7.01x19.73x1.87% 688B
37.62x8.63x17.81x2.34% 521B
21.75x5.27x13.2x2.48% 386B
104.88x5.98x25.49x2.3% 364B
24x5.82x14.17x2.73% 302B
24.25x4.85x13.63x1.8% 287B
24.04x7.38x13.56x2.17% 252B
-39.49x7.32x46.07x1.96% 208B
Average 31.24x 7.40x 21.55x 2.01% 477B
Weighted average by Cap. 37.57x 8.95x 22.68x 1.68%

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