Zai Lab (ZLAB) Operating Margin (2019 - 2026)
Zai Lab (ZLAB) posted Operating Margin of 69.66% for Q1 2026, down 28.06% sequentially from 54.39% in Q4 2025, and down 1678.0% YoY from 4.41% in Q1 2025.
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Zai Lab (ZLAB) Operating Margin (2019 - 2026) Analysis & Trends
Zai Lab has reported Operating Margin for 8 years, with the latest figure at 69.66% in Q1 2026.
- Quarterly Operating Margin fell 1678.0% year-over-year to 69.66% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 53.5% (up 1059.0% YoY) and the FY2025 annual result came in at 49.86%, up 2085.0% from the prior year.
- Operating Margin fell to 69.66% in Q1 2026 per ZLAB's latest filing, from 54.39% in the prior quarter.
- Over five years, Operating Margin peaked at 42.05% in Q3 2025 and troughed at 223.47% in Q3 2022.
- A 5-year average of 109.3% and a median of 80.68% in 2024 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2022 and 2023: Operating Margin jumped 95893 bps in 2022, then sank 3292 bps in 2023.
- Over 5 years, Operating Margin stood at 155.42% in 2022, then retreated by 21 bps to 188.34% in 2023, then soared by 67 bps to 62.25% in 2024, then climbed by 13 bps to 54.39% in 2025, then slipped by 28 bps to 69.66% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 69.66%, 54.39%, and 42.05% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 138.47 Bn | 130.62 Bn | 2.84 Bn | 37.40% |
| 2 | Regeneron Pharmaceuticals | 85.18 Bn | 77.19 Bn | 3.93 Bn | 30.15% |
| 3 | Argenx Se | 63.38 Bn | 58.19 Bn | 1.37 Bn | 32.54% |
| 4 | Moderna | 58.09 Bn | 52.95 Bn | 52.00 Mn | -562.07% |
| 5 | Revolution Medicines | 44.33 Bn | 44.33 Bn | - | - |
| 6 | BeOne Medicines | 40.02 Bn | 34.92 Bn | 1.53 Bn | 19.06% |
| 7 | Alnylam Pharmaceuticals | 35.57 Bn | 32.27 Bn | 992.69 Mn | 17.93% |
| 8 | Royalty Pharma | 28.45 Bn | 27.61 Bn | - | 19.75% |
| 9 | Insmed | 27.48 Bn | 26.32 Bn | 358.27 Mn | -0.36% |
| 10 | Zai Lab | 2.94 Bn | 2.23 Bn | 58.15 Mn | -71.95% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -71.95% |
| Mar 31, 2026 | -69.66% |
| Dec 31, 2025 | -54.39% |
| Sep 30, 2025 | -42.05% |
| Jun 30, 2025 | -49.91% |
| Mar 31, 2025 | -52.88% |
| Dec 31, 2024 | -62.25% |
| Sep 30, 2024 | -66.35% |
| Jun 30, 2024 | -75.68% |
| Mar 31, 2024 | -80.68% |
| Dec 31, 2023 | -188.34% |
| Sep 30, 2023 | -120.72% |
| Jun 30, 2023 | -129.97% |
| Mar 31, 2023 | -110.71% |
| Dec 31, 2022 | -155.42% |
| Sep 30, 2022 | -223.47% |
| Jun 30, 2022 | -204.91% |
| Mar 31, 2022 | -170.71% |
| Dec 31, 2021 | -498.58% |
| Sep 30, 2021 | -193.04% |