Zai Lab (ZLAB) Operating Margin (2019 - 2026)
Zai Lab (ZLAB) reported Operating Margin of -71.95% for Q2 2026, down 22.03 percentage points from -49.91% a year earlier and down 2.29 percentage points from the prior quarter.
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Analysis
Zai Lab (ZLAB) Operating Margin (2019 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Zai Lab's Operating Margin came in at -58.74%, down 1.01 percentage points year-over-year; for FY2025, it was -49.86%, up 20.85 percentage points from FY2024.
- Operating Margin has increased for seven consecutive years, with a five-year change of +566.59 percentage points (FY2020 to FY2025).
- By year, Operating Margin came in at -70.71% in FY2024 (+66.73 pp), -137.44% in FY2023 (+50.60 pp), -188.04% in FY2022 (+297.07 pp) and -485.10% in FY2021 (+131.34 pp).
- The Q2 2026 figure ranks as the lowest quarterly Operating Margin since Q2 2024.
- Year over year, Operating Margin gained in six of the last eight quarters, with an average year-over-year change of +28.42 percentage points.
- The high point for year-over-year Operating Margin in five years was Q1 2022 (a gain of 958.93 percentage points); the low point was Q4 2023 (a drop of 32.92 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at -69.66% (Q1 2026), -54.39% (Q4 2025) and -42.05% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 645.01 Bn | 563.54 Bn | 17.26 Bn | 28.21% |
| 2 | AbbVie | 465.23 Bn | 438.39 Bn | 12.70 Bn | 37.86% |
| 3 | Merck | 368.40 Bn | 322.83 Bn | 12.21 Bn | -3.52% |
| 4 | Novartis Ag | 278.02 Bn | 233.89 Bn | 11.24 Bn | 32.97% |
| 5 | Astrazeneca | 254.57 Bn | 228.13 Bn | 12.86 Bn | 20.57% |
| 6 | Amgen | 229.02 Bn | 184.42 Bn | 7.24 Bn | 34.95% |
| 7 | Gilead Sciences | 187.74 Bn | 161.85 Bn | 6.22 Bn | -133.21% |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 28.37% |
| 9 | Vertex Pharmaceuticals | 133.45 Bn | 105.45 Bn | 2.84 Bn | 37.40% |
| 10 | Zai Lab | 2.91 Bn | 224.93 Mn | 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% |
API Access
Zai Lab Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=ZLAB&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "ZLAB", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=ZLAB&period=max&api_key=YOUR_API_KEY");
const data = await res.json();