# Zai Lab Limited share price today (Zai Lab Limited, ZLAB)

> Zai Lab Limited's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. ZLAB · Healthcare · Biotechnology · data as of 5 November 2026. Page: https://www.sectoralpha.in/us/stocks/zlab

Sector Alpha also publishes a daily newsletter that explains one Indian stock at a time: https://newsletter.sectoralpha.in/?utm_source=sectoralpha&utm_medium=ai_text&utm_campaign=llms

## Key numbers

- Price: $22.60 (+3.2% in a year)
- Revenue (Jun 2026): $106 M (−3.3% on a year ago)
- Profit (Jun 2026): −$50.8 M
- Operating margin: −71.9% (−22.0 points on a year ago)
- ROE: −25%, FY25
- ROIC: −19.2%, against a 7.7% cost of capital: −26.9 points

Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. ## What is the Zai Lab Limited share price today? Zai Lab Limited's share price was $22.60 at the close on 5 November 2026. It has been stalling near its high for 14 weeks. That is 7.4% above its average price over the last 200 trading days. In the last 52 weeks it traded between $17 and $26, and at that close it sat 62% of the way up from that low. Over the past 13 weeks it has done better than the S&P 500, and it has stayed ahead for 14 weeks in a row. Over the last 9.1 years the share price moved −18% while the S&P 500 moved +194%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does Zai Lab Limited pay? Zai Lab Limited pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes. ## Which stock lists is Zai Lab Limited on? Zai Lab Limited is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is Zai Lab Limited profitable? Zai Lab Limited posted a net loss of $50.8 M in the Jun 2026 quarter. The full FY25 year was a loss of $176 M. That loss is 47.8% of the quarter's revenue. The same quarter a year earlier lost $40.7 M. 12 of the last 12 reported quarters were loss-making. ## How much revenue does Zai Lab Limited make, and is it growing? Zai Lab Limited reported $106 M of revenue in the Jun 2026 quarter, −3.3% on the same quarter a year earlier. Over 4 years it has grown 33.6% a year on average. The last full year, FY25, came in at $460 M. The last four reported quarters add to $450 M. FY25 revenue was $460 M, +15.3% on the year before. Recent pace: the last four quarters grew +5.2% on average, against 33.6% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +5.1%, against +18.0% a year over the last 8 quarters (rolling over). ## How much of every $100 of sales does Zai Lab Limited keep? Zai Lab Limited's operating margin was −71.9% in the Jun 2026 quarter, 22.0 percentage points lower than the same quarter a year ago. Across 5 years it has been between −485.1% and −49.9%. The latest quarter is within that range. Why the margin moved: operating margin changed −22.0 percentage points on the year while gross margin changed −18.1 points. So the drop came mostly from the gross margin, which means input costs and prices charged. ## Is Zai Lab Limited's profit turning into cash? Zai Lab Limited's cash-flow history is too short to judge how much of its profit turns into cash. In FY25 its operations used $151 M of cash, against −$176 M of profit. After $8.1 M of spending on assets, free cash was −$159 M: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Zai Lab Limited's cash go? Zai Lab Limited does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $21.0 M on assets over the last 3 years. Averaged over those years that is 1.5% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $21.0 M over the last 3 years. In short: most of the cash goes on covering the loss, not on new assets; spending on assets is small next to it. ## What is Zai Lab Limited's P/E ratio, and how does it compare with its own history? Zai Lab Limited has no P/E right now, because its earnings are negative. The revenue and margin sections are where a turn would show first. Measured against sales instead, the market values Zai Lab Limited at 6.1× its FY25 revenue of $460 M. The P/E comes back here once profit turns positive. ## Is the Zai Lab Limited business getting better or worse? Zai Lab Limited's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 2 measures, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Zai Lab Limited earn on its capital? Zai Lab Limited earned a ROE of −25% in FY25. That is up from a low of −51% in FY21. Its return on capital used (ROIC) is 26.9 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −38.1% net margin and 0.39× asset turnover (sales divided by assets). Why the return is what it is (FY25): a −38.1% net margin × 0.39× asset turnover × 1.64× leverage (assets divided by equity) ≈ −24.4% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: −19.2% − 7.7% = −26.9 percentage points. The 7.7% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Zai Lab Limited have too much debt? Zai Lab Limited has total debt of $255 M against shareholder equity of $607 M as of Jun 2026, so its debt is 0.42× its equity. Year by year, that ratio went from 0.01 in FY21 to 0.31 in FY25. Keep that borrowing in mind when reading the returns on this page. ## What is the Zai Lab Limited shareholding pattern? We have no ownership or short-position figures for Zai Lab Limited, so this section says so rather than fill the gap. At normal trading volumes, closing those positions would take about 11.0 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. ## How far is Zai Lab Limited from balance-sheet trouble? For Zai Lab Limited, the Z-score is 0.04. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the danger zone. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 0.04 is inside the danger zone, so the balance sheet is a real risk. ## How does Zai Lab Limited rank in its industry? There is no score against its industry: Zai Lab Limited is not among the largest members shown in this industry comparison for Biotechnology. The score ranks a company within its industry: each measure is scored against the other members. Without that group there is no score, so none is shown. ## Which companies is Zai Lab Limited compared with? No sector comparison is shown here, not among the largest members shown in this industry comparison. ## Which companies are close to Zai Lab Limited in size? Zai Lab Limited is the 62nd largest of 211 Biotechnology companies on Sector Alpha by market value (scores of 5 November 2026). Just above it: Denali Therapeutics Inc., IDEAYA Biosciences, Inc. and ADMA Biologics, Inc. Just below it: AtaiBeckley Inc., Vericel Corporation and Beam Therapeutics Inc. ### Biotechnology companies close in size

1. [Denali Therapeutics Inc.](https://www.sectoralpha.in/us/stocks/dnli) $3.2 billion
2. [IDEAYA Biosciences, Inc.](https://www.sectoralpha.in/us/stocks/idya) $3 billion
3. [ADMA Biologics, Inc.](https://www.sectoralpha.in/us/stocks/adma) $2.9 billion
4. Zai Lab Limited $2.8 billion
5. [AtaiBeckley Inc.](https://www.sectoralpha.in/us/stocks/atai) $2.7 billion
6. [Vericel Corporation](https://www.sectoralpha.in/us/stocks/vcel) $2.7 billion
7. [Beam Therapeutics Inc.](https://www.sectoralpha.in/us/stocks/beam) $2.6 billion

[All 211 Biotechnology companies, largest first](https://www.sectoralpha.in/us/sectors/biotechnology#all-companies)

### Companies close in size in other industries

1. [IMAX Corporation](https://www.sectoralpha.in/us/stocks/imax) $2.8 billion · Entertainment
2. [Dynex Capital, Inc.](https://www.sectoralpha.in/us/stocks/dx) $2.8 billion · REIT - Mortgage
3. Zai Lab Limited $2.8 billion
4. [H.B. Fuller Company](https://www.sectoralpha.in/us/stocks/ful) $2.8 billion · Specialty Chemicals
5. [Green Brick Partners, Inc.](https://www.sectoralpha.in/us/stocks/grbk) $2.8 billion · Residential Construction

## What else do people ask about Zai Lab Limited? ### What were Zai Lab Limited Limited's latest quarterly results? Zai Lab Limited reported revenue of $106 M and a net loss of $50.8 M for the Jun 2026 quarter. Earnings per share were −$0.46. The operating margin was −71.9%, 22.0 percentage points lower than a year earlier (as of 5 November 2026). ### What is Zai Lab Limited Limited's market cap? Zai Lab Limited's market capitalisation is $2.8 B at a stock price of $22.60. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 5 November 2026). ### How is Zai Lab Limited Limited performing? Zai Lab Limited's share price has been stalling near its high for 14 weeks. Over the past 13 weeks it has done better than the S&P 500, for 14 weeks running. This describes what the data did, not a rating (as of 5 November 2026). ### Will Zai Lab Limited Limited's stock price go up? This page does not forecast Zai Lab Limited's stock price. What it shows instead: the stock price is $22.60, and it has been stalling near its high for 14 weeks. Nobody can reliably say which way a price will move, and this site does not try (as of 5 November 2026). ### Does Zai Lab Limited Limited have too much debt? Zai Lab Limited has a moderate amount of debt: its debt is 0.47× its equity. A year-by-year history of its borrowings is not in our data, so this uses the latest reading. Keep that borrowing in mind when reading the returns on this page (as of 5 November 2026). ### Where is Zai Lab Limited Limited in its business cycle? Zai Lab Limited's FY25 operating margin was −49.9%, against a 5-year range of −485.1% to −49.9%: the middle of its own range, neither a peak nor a low. The latest quarter was −71.9%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 5 November 2026). ### What could break the Zai Lab Limited Limited story? Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 5 November 2026). ### Is Zai Lab Limited Limited a stock worth studying right now? What the numbers show: Zai Lab Limited's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 5 November 2026). This is research, not advice. We’re not SEBI-registered.