Also trades as: 9688.HK (HKSE) · $vol 19M
ZLAB NASDAQ
Zai Lab Limited
1W: -6.0%
1M: -8.2%
3M: +28.8%
YTD: +36.1%
1Y: -10.4%
3Y: -1.4%
5Y: -76.7%
$23.58
-0.76 (-3.12%)
After Hours: $23.29 (-0.29, -1.25%)
Weekly Expected Move ±9.6%
$19
$22
$24
$26
$29
Credit Risk of going bust: lower than 51% of companies Debt: 8.5% of company value Bonds: none of note held by US funds details ▾
If the stock fell to about $0.43 (down 98%), Zai Lab Limited would be worth roughly what it owes.
Total debt $254.6M against a stock market value of $2.73B.
Distance to default 5.22 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $238.1M (short-term plus half of long-term), stock volatility 50.9%; Altman Z'' -5.11. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
Total debt $254.6M against a stock market value of $2.73B.
Distance to default 5.22 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $238.1M (short-term plus half of long-term), stock volatility 50.9%; Altman Z'' -5.11. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
Overview
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Financials
Income Statement
Cash Flow
Balance Sheet
Earnings
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ETF Exposure
Dark Pool
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Supply Chain
Balance Sheet Trends
Total Assets
$1.2B
-1.1% ▼
5Y CAGR: -2.0%
Total Liabilities
$457M
+32.5% ▲
5Y CAGR: +28.9%
Shareholders Equity
$716M
-14.9% ▼
5Y CAGR: -9.4%
Cash & Investments
$690M
-11.6% ▼
5Y CAGR: -10.3%
Total Debt
$224M
+46.1% ▲
5Y CAGR: +64.5%
Net Debt
-$455M
-53.7% ▼
Assets vs Liabilities & Equity
Year-over-Year Growth
View Full Balance Sheet
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Assets — | |||||
| Cash | $964M | $1.0B | $790M | $450M | $680M |
| Short-Term Investments | $445M | $0 | $16M | $330M | $10M |
| Cash & ST Investments | $1.4B | $1.0B | $806M | $780M | $690M |
| Net Receivables | $55M | $49M | $65M | $89M | $106M |
| Inventory | $19M | $32M | $45M | $40M | $75M |
| Other Current Assets | $0 | $36M | $23M | $142M | $149M |
| Total Current Assets | $1.5B | $1.1B | $940M | $1.1B | $1.0B |
| Property, Plant & Equip. | $58M | $79M | $69M | $69M | $67M |
| Goodwill & Intangibles | $10M | $8M | $16M | $59M | $76M |
| Long-Term Investments | $16M | $6M | $9M | $3M | $0 |
| Other Non-Current Assets | $26M | $2M | $2M | $4M | $7M |
| Total Non-Current Assets | $109M | $96M | $97M | $135M | $153M |
| Total Assets | $1.6B | $1.2B | $1.0B | $1.2B | $1.2B |
| — Liabilities — | |||||
| Accounts Payable | $126M | $66M | $113M | $101M | $142M |
| Short-Term Debt | $0 | $0 | $0 | $132M | $211M |
| Deferred Revenue | $0 | $0 | $0 | $0 | $27M |
| Other Current Liabilities | $4M | $4M | $5M | $6M | $36M |
| Total Current Liabilities | $193M | $140M | $203M | $299M | $416M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $13M |
| Other Non-Current Liab. | $0 | $0 | $325K | $325K | $27M |
| Total Non-Current Liabilities | $37M | $35M | $37M | $45M | $41M |
| Total Liabilities | $230M | $175M | $240M | $345M | $457M |
| — Equity — | |||||
| Common Stock | $6K | $6K | $6K | $7K | $7K |
| Retained Earnings | -$1.4B | -$1.9B | -$2.2B | -$2.5B | -$2.6B |
| Accumulated OCI | -$24M | $26M | $38M | $51M | $30M |
| Total Stockholders Equity | $1.4B | $1.0B | $796M | $841M | $716M |
| Total Liabilities & Equity | $1.6B | $1.2B | $1.0B | $1.2B | $1.2B |
| — Key Metrics — | |||||
| Total Debt | $16M | $20M | $15M | $153M | $224M |
| Net Debt | -$949M | -$988M | -$775M | -$296M | -$455M |
| Total Investments | $461M | $6M | $26M | $333M | $10M |