Zai Lab Ratios and Metrics

Market cap in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 5, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Cap	17,128	15,266	22,077	20,784	23,058	46,948
Market Cap Growth	-34.75%	-30.85%	6.22%	-9.86%	-50.89%	400.58%
Enterprise Value	13,488	11,626	17,179	20,784	15,329	46,948
PE Ratio	-	-11.02	-10.07	-7.81	-5.48	-12.83
PS Ratio	4.78	4.24	7.07	9.96	-	41.59
PB Ratio	3.08	2.73	3.36	-	2.82	-
P/TBV Ratio	2.37	2.70	3.08	-	2.85	-
P/FCF Ratio	-	-12.28	-12.80	-12.94	-	-10.58
P/OCF Ratio	-	-12.94	-13.14	-13.41	-	-10.93
EV/Sales Ratio	3.75	3.23	5.50	9.96	-	41.59
EV/EBITDA Ratio	-	-6.93	-8.13	-7.43	-	-8.65
EV/EBIT Ratio	-	-6.48	-7.79	-7.25	-	-8.57
EV/FCF Ratio	-10.91	-9.35	-9.96	-12.94	-	-10.58
Debt / Equity Ratio	0.31	0.31	0.18	-	0.02	-
Debt / EBITDA Ratio	-1.05	-1.05	-0.57	-	-	-
Debt / FCF Ratio	-1.41	-1.41	-0.70	-	-	-
Net Debt / Equity Ratio	-0.65	-0.65	-0.74	-	-0.94	-
Net Debt / EBITDA Ratio	2.17	2.17	2.32	-	-	-
Net Debt / FCF Ratio	2.93	2.93	2.84	-	-	-
Asset Turnover	0.39	0.39	0.67	0.44	0	-
Inventory Turnover	3.33	3.33	7.42	6.06	0	-
Quick Ratio	1.94	1.94	2.90	-	7.56	-
Current Ratio	2.45	2.45	3.51	-	8.04	-
Return on Equity (ROE)	-22.56%	-22.56%	-61.15%	-64.01%	0.00%	-
Return on Assets (ROA)	-19.14%	-19.14%	-47.58%	-60.09%	0.00%	-
Return on Invested Capital (ROIC)	-69.83%	-69.83%	-184.89%	-503.20%	0.00%	-
Return on Capital Employed (ROCE)	-27.94%	-27.94%	-63.66%	-67.87%	0.00%	-
Earnings Yield	-7.98%	-9.07%	-9.93%	-12.81%	-18.24%	-7.80%
FCF Yield	-7.22%	-8.14%	-7.81%	-7.73%	0.00%	-9.46%
Buyback Yield / Dilution	-0.70%	-0.70%	-7.81%	-0.09%	0.00%	-13.77%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.