Zai Lab reported a gross margin of 54.70% and a net margin of -47.81% for the quarter ended Jun 2026. These financial ratios cover 31 quarters of results from Dec 2016 through Jun 2026, standardized by Business Quant from the company’s SEC filings.
| Ratios | Dec2016 | Dec2017 | Dec2018 | Sep2019 | Dec2019 | Mar2020 | Jun2020 | Sep2020 | Dec2020 | Mar2021 | Jun2021 | Sep2021 | Dec2021 | Mar2022 | Jun2022 | Sep2022 | Dec2022 | Mar2023 | Jun2023 | Sep2023 | Dec2023 | Mar2024 | Jun2024 | Sep2024 | Dec2024 | Mar2025 | Jun2025 | Sep2025 | Dec2025 | Mar2026 | Jun2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | |||||||||||||||||||||||||||||||
| Gross Margin | 71.78% | 50.63% | 66.52% | 63.87% | 65.17% | 66.58% | 66.02% | 65.49% | 63.20% | 61.66% | 61.42% | 65.03% | 64.24% | 61.69% | 63.89% | 60.90% | 59.72% | 51.17% | 61.54% | 54.70% | |||||||||||
| EBT Margin | -222.89% | -480.66% | -175.87% | -286.31% | -280.14% | -98.67% | -78.26% | -175.56% | -99.89% | -144.96% | -61.36% | -79.87% | -40.75% | -74.89% | -45.49% | -37.03% | -30.98% | -41.80% | -49.77% | -48.77% | |||||||||||
| EBIT Margin | -193.04% | -498.58% | -170.71% | -204.91% | -223.47% | -155.42% | -110.71% | -129.97% | -120.72% | -188.34% | -80.68% | -75.68% | -66.35% | -62.25% | -52.88% | -49.91% | -42.05% | -54.39% | -69.66% | -71.95% | |||||||||||
| EBITDA Margin | -193.04% | -498.58% | -170.71% | -204.91% | -223.47% | -155.42% | -110.71% | -129.97% | -120.72% | -188.34% | -80.68% | -75.68% | -66.35% | -62.25% | -52.88% | -49.91% | -42.05% | -54.39% | -69.66% | -71.95% | |||||||||||
| Operating Margin | -193.04% | -498.58% | -170.71% | -204.91% | -223.47% | -155.42% | -110.71% | -129.97% | -120.72% | -188.34% | -80.68% | -75.68% | -66.35% | -62.25% | -52.88% | -49.91% | -42.05% | -54.39% | -69.66% | -71.95% | |||||||||||
| Net Margin | -223.68% | -481.81% | -176.34% | -286.31% | -280.14% | -98.67% | -78.26% | -175.56% | -99.89% | -144.96% | -61.36% | -79.87% | -40.75% | -74.89% | -45.49% | -37.03% | -30.98% | -39.51% | -51.22% | -47.81% | |||||||||||
| FCF Margin | -387.81% | -362.51% | -207.32% | -100.97% | -231.16% | -181.63% | -115.93% | -87.74% | -82.38% | -23.00% | -104.51% | -42.70% | -27.54% | -53.52% | -59.38% | -30.83% | -30.19% | -20.92% | -13.16% | -60.87% | |||||||||||
| Efficiency | |||||||||||||||||||||||||||||||
| Inventory AverageInventory Avg. | 0.01B | 0.02B | 0.02B | 0.02B | 0.03B | 0.03B | 0.04B | 0.04B | 0.04B | 0.04B | 0.04B | 0.04B | 0.04B | 0.04B | 0.05B | 0.06B | 0.06B | 0.07B | 0.08B | 0.09B | |||||||||||
| Assets AverageAssets Avg. | 1.81B | 1.67B | 1.56B | 1.46B | 1.36B | 1.26B | 1.20B | 1.14B | 1.08B | 1.04B | 1.01B | 0.99B | 0.99B | 1.09B | 1.18B | 1.17B | 1.16B | 1.17B | 1.13B | 1.09B | |||||||||||
| Invested CapitalInvested Cap. | 0.80B | 0.86B | 0.84B | 0.89B | 1.10B | 1.16B | 1.14B | 1.17B | 1.12B | 1.09B | 1.08B | ||||||||||||||||||||
| Asset Utilization RatioAsset Util. | 0.06 | 0.09 | 0.11 | 0.12 | 0.14 | 0.17 | 0.19 | 0.22 | 0.25 | 0.26 | 0.29 | 0.33 | 0.36 | 0.37 | 0.35 | 0.37 | 0.38 | 0.39 | 0.40 | 0.41 | |||||||||||
| Leverage & Solvency | |||||||||||||||||||||||||||||||
| Interest Coverage RatioInterest Cover | -622.20 | -154.60 | -91.08 | -75.10 | -47.44 | -43.50 | -34.87 | -51.00 | -42.39 | -48.20 | |||||||||||||||||||||
| Debt Ratio | 0.10 | 0.14 | 0.23 | 0.22 | 0.30 | 0.30 | 0.35 | 0.35 | 0.39 | 0.44 | |||||||||||||||||||||
| Times Interest Earned | -622.20 | -154.60 | -91.08 | -75.10 | -47.44 | -43.50 | -34.87 | -51.00 | -42.39 | -48.20 | |||||||||||||||||||||
| Valuation | |||||||||||||||||||||||||||||||
| Price to EarningsP/E | -104.15 | -28.33 | -51.06 | -24.10 | -20.36 | -47.72 | -65.22 | -22.22 | -34.07 | -27.84 | -29.16 | -21.19 | -57.02 | -34.55 | -80.89 | -94.37 | -104.21 | -38.72 | -40.94 | -41.96 | |||||||||||
| Price to SalesP/S | 232.95 | 136.52 | 90.05 | 69.00 | 57.04 | 47.09 | 51.04 | 39.00 | 34.03 | 40.36 | 17.89 | 16.92 | 23.24 | 25.88 | 36.79 | 34.95 | 32.28 | 15.30 | 20.97 | 20.06 | |||||||||||
| Price to BookP/B | 6.32 | 4.35 | 3.22 | 2.74 | 2.97 | 2.82 | 3.20 | 2.88 | 2.67 | 3.34 | 2.05 | 2.42 | 3.56 | 3.36 | 4.83 | 4.85 | 4.93 | 2.73 | 3.15 | 3.51 | |||||||||||
| Enterprise Value | 8.47B | 4.59B | 2.90B | 2.07B | 2.16B | 1.94B | 2.27B | 1.81B | 1.54B | 1.85B | 0.81B | 0.97B | 1.66B | 2.04B | 3.06B | 3.01B | 2.93B | 1.17B | 1.34B | 1.43B | |||||||||||
| EV to EBIT | -101.83 | -20.95 | -36.30 | -20.95 | -16.82 | -19.93 | -32.72 | -20.24 | -18.37 | -14.93 | -11.50 | -12.76 | -24.47 | -30.09 | -54.36 | -54.86 | -60.03 | -16.89 | -19.27 | -18.63 | |||||||||||
| EV to EBITDA | -101.83 | -20.95 | -36.30 | -20.95 | -16.82 | -19.93 | -32.72 | -20.24 | -18.37 | -14.93 | -11.50 | -12.76 | -24.47 | -30.09 | -54.36 | -54.86 | -60.03 | -16.89 | -19.27 | -18.63 | |||||||||||
| Market Capitalization | 10.04B | 6.00B | 4.21B | 3.32B | 3.28B | 2.95B | 3.21B | 2.69B | 2.36B | 2.66B | 1.56B | 1.70B | 2.38B | 2.82B | 3.92B | 3.84B | 3.75B | 1.95B | 2.09B | 2.13B | |||||||||||
| Price to FCFP/FCF | -60.07 | -37.66 | -43.43 | -68.33 | -24.68 | -25.93 | -44.03 | -44.45 | -41.31 | -175.52 | -17.12 | -39.63 | -84.37 | -48.36 | -61.96 | -113.35 | -106.93 | -73.10 | -159.33 | -32.95 | |||||||||||
| EV to FCF | -50.68 | -28.82 | -29.89 | -42.51 | -16.26 | -17.06 | -31.25 | -29.97 | -26.92 | -122.25 | -8.88 | -22.62 | -58.95 | -35.00 | -48.41 | -88.81 | -83.62 | -43.90 | -102.01 | -22.02 | |||||||||||
| EV to CFO | -52.66 | -30.02 | -33.23 | -46.06 | -17.12 | -17.75 | -32.83 | -30.85 | -27.78 | -124.07 | -8.97 | -23.02 | -61.90 | -36.63 | -49.61 | -97.06 | -91.46 | -45.04 | -112.24 | -22.48 | |||||||||||
| Return Ratios | |||||||||||||||||||||||||||||||
| Return on Sales [ROS]ROS | -193.04% | -498.58% | -170.71% | -204.91% | -223.47% | -155.42% | -110.71% | -129.97% | -120.72% | -188.34% | -80.68% | -75.68% | -66.35% | -62.25% | -52.88% | -49.91% | -42.05% | -54.39% | -69.66% | -71.95% | |||||||||||
| Return on Capital Employed [ROCE]ROCE | -33.90% | -47.43% | -39.47% | -37.25% | -43.74% | -36.12% | -36.81% | -38.30% | -35.77% | -43.80% | -44.79% | -48.08% | -48.31% | -35.89% | -31.19% | -29.50% | -28.43% | -30.61% | -32.72% | -40.22% | |||||||||||
| Return on Invested Capital [ROIC]ROIC | -19.70% | -21.72% | -23.99% | ||||||||||||||||||||||||||||
| Return on Assets [ROA]ROA | -31.36% | -42.15% | -35.52% | -36.13% | -43.62% | -35.18% | -34.31% | -34.53% | -28.00% | -32.18% | -33.48% | -30.20% | -27.46% | -23.68% | -21.37% | -18.18% | -17.81% | -15.06% | -15.71% | -17.34% |