Zai Lab Ltd financial metrics

Professional SEC-based dashboard for profitability, financial health, and growth with transparent scoring logic. Latest period: Q4 2025.

Symbol
ZLAB on Nasdaq
Location
Shanghai
Fiscal year end
31 December
Latest financial report
26 Feb 2026

Quick Takeaways

  • ZLAB - Zai Lab Ltd financial facts are built from SEC company filings data.
  • Latest metrics period on this page: Q4 2025.
  • Headline metric: Return On Equity -23%.

What Changed

  • Return On Equity YoY change: <span class="text-red-600">-28%</span>.
  • Most recent SEC facts end date: 31 Dec 2025.

Why This Matters

  • This gives a beginner-friendly first read before you inspect detailed formulas and metric tables.
  • Every metric card links to a deeper SEC-backed history page for verification.

Official SEC Source

Based on latest 10-Q/10-K

Facts and ratios are grounded in SEC company facts linked to the latest 10-Q/10-K cycle.

See Original Filing

Latest SEC snapshot (2025-12-31) highlights Return On Equity -22.6%, Return On Assets -14.9%, and Operating Margin -50.2%.

Financial Quality Score

Transparent 0-100 scoring model based on profitability, financial health, and growth factors.

54.0/100

Caution Confidence high

Return On Equity

-23%

Metric score 0.0/100

Return On Assets

-15%

Metric score 0.0/100

Financial Health

Current Ratio
2.45x
Quick Ratio
1.89x
Debt to Equity
0.52x

Strengths

Current Ratio, Quick Ratio, and Debt-to-equity

Watchpoints

Return On Equity, Return On Assets, and Operating Margin

Key metrics snapshot

Return On Equity

-23%

YoY: -28%

Industry median: -43% (n=675)

View history

Return On Assets

-15%

YoY: -36%

Industry median: -47% (n=673)

View history

Operating Margin

-50%

YoY: -29%

Industry median: -121% (n=298)

View history

Current Ratio

2.45x

YoY: -30%

Industry median: 3.39x (n=667)

View history

Quick Ratio

1.89x

YoY: +5.7%

Industry median: 1.51x (n=289)

View history

Debt-to-equity

0.52x

YoY: +31%

Industry median: 0.26x (n=530)

View history

Revenues YoY

15%

YoY:

Industry median: 7.3% (n=302)

View history

NetIncomeLoss YoY

32%

YoY:

Industry median: -0.93% (n=641)

View history

Profitability

Metric Latest value YoY change
Return On Equity -23% -28%
Return On Assets -15% -36%
Operating Margin -50% -29%

Financial Health

Metric Latest value YoY change
Current Ratio 2.45x -30%
Quick Ratio 1.89x +5.7%
Debt-to-equity 0.52x +31%

Growth

Metric Latest value YoY change
Revenues YoY 15%
NetIncomeLoss YoY 32%

Share Metrics

Metric Latest value YoY change
Common Stock, Shares, Outstanding 1,106,389,340 +2.7%
Common Stock, Value, Issued $7,000 0%
Weighted Average Number of Shares Outstanding, Basic 1,095,311,090 +11%
Weighted Average Number of Shares Outstanding, Diluted 1,095,311,090 +11%

Additional Metrics

Metric Latest value YoY change
Revenue from Contract with Customer, Excluding Assessed Tax $457,182,000 +15%
Research and Development Expense $220,904,000 -5.8%
Operating Income (Loss) $229,434,000 +19%
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $178,464,000 +31%
Income Tax Expense (Benefit) $2,927,000
Earnings Per Share, Basic -0.16 +38%
Earnings Per Share, Diluted -0.16 +38%
Cash and Cash Equivalents, at Carrying Value $679,573,000 +51%
Accounts Receivable, after Allowance for Credit Loss, Current $106,116,000 +25%
Inventory, Net $74,745,000 +87%
Assets, Current $1,019,286,000 -3%
Deferred Income Tax Assets, Net $3,390,000
Property, Plant and Equipment, Net $47,389,000 -1.2%
Operating Lease, Right-of-Use Asset $19,152,000 -11%
Intangible Assets, Net (Excluding Goodwill) $76,144,000 +36%
Other Assets, Noncurrent $3,054,000 -47%
Assets $1,172,384,000 -1.1%
Accounts Payable, Current $141,608,000 +40%
Employee-related Liabilities, Current $28,485,000 -5.7%
Liabilities, Current $416,166,000 +39%
Operating Lease, Liability, Noncurrent $13,385,000 -2.4%
Other Liabilities, Noncurrent $0 -100%
Liabilities $456,884,000 +32%
Accumulated Other Comprehensive Income (Loss), Net of Tax $29,697,000 -41%
Retained Earnings (Accumulated Deficit) $2,628,620,000 -7.2%
Stockholders' Equity Attributable to Parent $715,500,000 -15%
Liabilities and Equity $1,172,384,000 -1.1%
Common Stock, Shares Authorized 5,000,000,000 0%
Common Stock, Shares, Issued 1,113,822,550 +2.9%
Common Stock, Par or Stated Value Per Share 0 0%
Deferred Tax Assets, Valuation Allowance $429,181,000 +8.7%
Operating Lease, Liability $19,729,000 -9.3%
Depreciation $9,100,000 +5.8%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent $196,355,000 +20%
Lessee, Operating Lease, Liability, to be Paid $20,439,000 -12%
Property, Plant and Equipment, Gross $89,552,000 +5.3%
Operating Lease, Liability, Current $6,344,000 -21%
Lessee, Operating Lease, Liability, to be Paid, Year Two $5,655,000 +13%
Lessee, Operating Lease, Liability, to be Paid, Year One $6,598,000 -23%
Operating Lease, Weighted Average Discount Rate, Percent 0.032 -5.9%
Lessee, Operating Lease, Liability, Undiscounted Excess Amount $710,000 -49%
Lessee, Operating Lease, Liability, to be Paid, Year Three $4,477,000 +20%
Deferred Tax Assets, Operating Loss Carryforwards $349,118,000 +8.7%
Lessee, Operating Lease, Liability, to be Paid, Year Four $2,875,000 -1.1%
Amortization of Intangible Assets $5,900,000 +84%
Deferred Tax Assets, Net of Valuation Allowance $6,911,000 +83%
Share-based Payment Arrangement, Expense $65,598,000 -7.2%

How we score

This score is transparent and deterministic. We weight profitability, financial health, and growth metrics, then renormalize weights when SEC data is missing.

Metric Weight V1 threshold
ROIC205% to 20%
ROE158% to 25%
ROA102% to 10%
Operating Margin55% to 25%
Current Ratio121.0x to 2.0x
Quick Ratio80.8x to 1.5x
Debt to Equity100.3x to 2.0x (lower is better)
Revenue YoY10-10% to +20%
Net Income YoY10-10% to +20%

How Calculated (standard_v1)

Metrics are computed with a market-consensus convention designed for cross-portal comparability.

  • TTM Operating Income / TTM Revenues
  • Current Assets / Current Liabilities (latest instant quarter)
  • (Current Assets - Inventory) / Current Liabilities; fallback: (Cash+Short-Term Investments + Accounts Receivable) / Current Liabilities
  • Total Debt / Stockholders Equity (latest instant quarter; shared unit; freshest series)
  • TTM Net Income / Average Equity (current quarter + same quarter previous year) / 2
  • TTM Net Income / Average Assets (current quarter + same quarter previous year) / 2
  • TTM NOPAT / Average Invested Capital, where NOPAT=Operating Income*(1-tax rate), Invested Capital=Equity+Total Debt-Cash & ST Investments
  • TTM Revenues YoY
  • TTM Net Income YoY