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 2,698 - -
Change - -51.37% -8.77% 6.15% -31.23% 37.51% - -
Enterprise Value (EV) 1 4,650 1,938 1,897 2,095 1,397 2,240 2,317 2,461
Change - -58.33% -2.13% 10.47% -33.34% 60.4% 3.43% 6.22%
P/E -8.29x -6.63x -7.9x -10.1x -11x -10.9x -10.9x -16.3x
PBR 4.35x - 3.34x 3.36x 2.73x 5.25x 6.89x 6.37x
PEG - 0.2x 0.3x 0.4x 0.3x -0.3x -54.12x 0.5x
Capitalization / Revenue 42x 13.7x 10.1x 7.15x 4.26x 6.18x 4.89x 3.73x
EV / Revenue 32.2x 9.01x 7.11x 5.25x 3.04x 5.13x 4.2x 3.4x
EV / EBITDA -6.7x -4.89x -5.3x -7.75x -6.51x -7.94x -10.1x -19.5x
EV / EBIT -6.64x -4.79x -5.17x -7.43x -6.09x -7.87x -10.1x -15.7x
EV / FCF -8.19x -4.94x -9.23x -9.5x -8.5x -12.3x -13x -20.9x
FCF Yield -12.2% -20.2% -10.8% -10.5% -11.8% -8.11% -7.68% -4.78%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -7.58 -4.63 -3.46 -2.6 -1.6 -2.209 -2.214 -1.47
Distribution rate - - - - - - - -
Net sales 1 144.3 215 266.7 399 460.2 436.5 552.1 723.7
EBITDA 1 -693.6 -396.1 -357.5 -270.3 -214.4 -282.2 -228.3 -126.2
EBIT 1 -700.1 -404.4 -366.6 -282.1 -229.4 -284.6 -230.4 -156.7
Net income 1 -704.5 -443.3 -334.6 -257.1 -175.5 -240.7 -211.1 -157.9
Net Debt 1 -1,409 -1,008 -791.3 -757.9 -565.3 -457.7 -380.8 -236.7
Reference price 2 62.85 30.70 27.33 26.19 17.64 24.03 24.03 24.03
Nbr of stocks (in thousands) 96,409 95,972 98,349 108,937 111,219 112,266 - -
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.($)
37.06x13.1x27.8x0.54% 1,135B
38.61x6.49x18.27x2.02% 635B
36.46x8.38x17.29x2.41% 505B
20.87x5.11x12.73x2.56% 378B
105.89x5.92x25.41x2.34% 358B
21.76x5.68x13.94x2.81% 295B
22.43x4.53x12.94x1.95% 266B
27.87x7.16x12.81x2.3% 237B
-45.48x6.98x27.06x2.11% 193B
Average 29.50x 7.04x 18.69x 2.12% 444.85B
Weighted average by Cap. 35.23x 8.29x 20.39x 1.8%

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