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 2,831 - -
Change - -51.37% -8.77% 6.15% -31.23% 44.27% - -
Enterprise Value (EV) 1 4,650 1,938 1,897 2,095 1,397 2,322 2,382 2,525
Change - -58.33% -2.13% 10.47% -33.34% 66.23% 2.6% 6.02%
P/E -8.29x -6.63x -7.9x -10.1x -11x -10.2x -10.4x -15.8x
PBR 4.35x - 3.34x 3.36x 2.73x 4.58x 6.11x 5.52x
PEG - 0.2x 0.3x 0.4x 0.3x -0.3x 4.76x 0.5x
Capitalization / Revenue 42x 13.7x 10.1x 7.15x 4.26x 6.56x 5.17x 3.97x
EV / Revenue 32.2x 9.01x 7.11x 5.25x 3.04x 5.38x 4.35x 3.55x
EV / EBITDA -6.7x -4.89x -5.3x -7.75x -6.51x -8.2x -9.97x -18.2x
EV / EBIT -6.64x -4.79x -5.17x -7.43x -6.09x -8.14x -10.1x -15.3x
EV / FCF -8.19x -4.94x -9.23x -9.5x -8.5x -13.2x -13.3x -20.7x
FCF Yield -12.2% -20.2% -10.8% -10.5% -11.8% -7.56% -7.5% -4.83%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -7.58 -4.63 -3.46 -2.6 -1.6 -2.245 -2.196 -1.447
Distribution rate - - - - - - - -
Net sales 1 144.3 215 266.7 399 460.2 431.8 547.2 712.1
EBITDA 1 -693.6 -396.1 -357.5 -270.3 -214.4 -283.2 -239 -138.7
EBIT 1 -700.1 -404.4 -366.6 -282.1 -229.4 -285.3 -236.4 -165.4
Net income 1 -704.5 -443.3 -334.6 -257.1 -175.5 -244.1 -219.6 -157.7
Net Debt 1 -1,409 -1,008 -791.3 -757.9 -565.3 -508.9 -448.5 -305.1
Reference price 2 62.85 30.70 27.33 26.19 17.64 22.80 22.80 22.80
Nbr of stocks (in thousands) 96,409 95,972 98,349 108,937 111,219 124,145 - -
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-9.78x5.14x-7.83x-.--% 2.83B
41.24x13.94x30.97x0.48% 1,263B
38.96x6.55x18.42x2.01% 665B
36.79x8.37x17.26x2.42% 521B
21.08x5.12x12.75x2.56% 387B
95.75x5.88x25.02x2.35% 371B
22.88x5.88x14.19x2.73% 310B
24.26x4.85x13.68x1.8% 293B
29.25x7.46x13.36x2.19% 259B
-40.09x7.32x45.96x1.97% 216B
Average 26.03x 7.05x 18.38x 1.85% 428.82B
Weighted average by Cap. 35.89x 8.69x 22.47x 1.73%

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
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