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ZLAB logo
ZLAB
LEGN logo
LEGN
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Stock Comparison

ANL vs ZLAB vs LEGN vs ZYME

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
ANL
Adlai Nortye Ltd.

Biotechnology

HealthcareNASDAQ • KY
Market Cap$322M
5Y Perf.-31.2%
ZLAB
Zai Lab Limited

Biotechnology

HealthcareNASDAQ • CN
Market Cap$1.89B
5Y Perf.-29.8%
LEGN
Legend Biotech Corporation

Biotechnology

HealthcareNASDAQ • US
Market Cap$6.63B
5Y Perf.-46.6%
ZYME
Zymeworks Inc.

Biotechnology

HealthcareNASDAQ • CA
Market Cap$1.68B
5Y Perf.+260.9%

ANL vs ZLAB vs LEGN vs ZYME — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
ANL logoANL
ZLAB logoZLAB
LEGN logoLEGN
ZYME logoZYME
IndustryBiotechnologyBiotechnologyBiotechnologyBiotechnology
Market Cap$322M$1.89B$6.63B$1.68B
Revenue (TTM)$6M$453M$1.14B$81M
Net Income (TTM)$-54M$-178M$-250M$-103M
Gross Margin100.0%57.9%55.0%94.4%
Operating Margin-10.0%-53.5%-11.9%-140.4%
Forward P/E393.3x15.5x
Total Debt$27M$224M$414M$18M
Cash & Equiv.$61M$680M$902M$41M

ANL vs ZLAB vs LEGN vs ZYMELong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

ANL
ZLAB
LEGN
ZYME
StockSep 23Jun 26Return
Adlai Nortye Ltd. (ANL)10068.8-31.2%
Zai Lab Limited (ZLAB)10070.2-29.8%
Legend Biotech Corp… (LEGN)10053.4-46.6%
Zymeworks Inc. (ZYME)100360.9+260.9%

Price return only. Dividends and distributions are not included.

Quick Verdict: ANL vs ZLAB vs LEGN vs ZYME

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: LEGN leads in 3 of 7 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. Zymeworks Inc. is the stronger pick specifically for valuation and capital efficiency and operational efficiency and capital deployment. ANL also leads in specific categories worth noting. As sector peers, any of these can serve as alternatives in the same allocation.
🥇LEGN emerged as the overall leader. Track its performance:
ANL
Adlai Nortye Ltd.
The Momentum Pick

ANL is the clearest fit if your priority is momentum.

  • +5.5% vs ZLAB's -60.3%
Best for: momentum
ZLAB
Zai Lab Limited
The Secondary Option

ZLAB lags the leaders in this set but could rank higher in a more targeted comparison.

Best for: healthcare exposure
LEGN
Legend Biotech Corporation
The Income Pick

LEGN carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.

  • beta 0.70
  • Rev growth 64.0%, EPS growth -64.9%, 3Y rev CAGR 106.4%
  • -3.1% 10Y total return vs ZYME's 76.0%
  • 64.0% revenue growth vs ANL's -100.0%
Best for: income & stability and growth exposure
ZYME
Zymeworks Inc.
The Defensive Pick

ZYME is the #2 pick in this set and the best alternative if sleep-well-at-night and defensive is your priority.

  • Lower volatility, beta 0.87, Low D/E 6.8%, current ratio 5.52x
  • Beta 0.87, current ratio 5.52x
  • Lower P/E (15.5x vs 393.3x)
  • -0.1% ROA vs ANL's -50.2%, ROIC -25.9% vs -7.3%
Best for: sleep-well-at-night and defensive
See the full category breakdown
CategoryWinnerWhy
GrowthLEGN logoLEGN64.0% revenue growth vs ANL's -100.0%
ValueZYME logoZYMELower P/E (15.5x vs 393.3x)
Quality / MarginsLEGN logoLEGN-22.0% margin vs ANL's -8.3%
Stability / SafetyLEGN logoLEGNBeta 0.70 vs ANL's 1.39, lower leverage
DividendsTieNone of these 4 stocks pay a meaningful dividend
Momentum (1Y)ANL logoANL+5.5% vs ZLAB's -60.3%
Efficiency (ROA)ZYME logoZYME-0.1% ROA vs ANL's -50.2%, ROIC -25.9% vs -7.3%

ANL vs ZLAB vs LEGN vs ZYME — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

ANLAdlai Nortye Ltd.

Segment breakdown not available.

ZLABZai Lab Limited
FY 2025
Zejula
56.5%$189M
Nuzyra
18.2%$61M
Optune
14.4%$48M
Qinlock
10.6%$36M
Product and Service, Other
0.2%$717,000
LEGNLegend Biotech Corporation
FY 2021
Licensing Of Intellectual Property
100.0%$5M
ZYMEZymeworks Inc.
FY 2025
Milestone Revenue
61.6%$25M
Option Exercise Fee
18.5%$8M
Research Support Payments And Other Service
13.8%$6M
Royalty
6.1%$2M

ANL vs ZLAB vs LEGN vs ZYME — Financial Metrics

Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLLEGNLAGGINGANL

Income & Cash Flow (Last 12 Months)

LEGN leads this category, winning 4 of 6 comparable metrics.

LEGN is the larger business by revenue, generating $1.1B annually — 175.5x ANL's $6M. Profitability is closely matched — net margins range from -22.0% (LEGN) to -8.3% (ANL). On growth, LEGN holds the edge at +56.4% YoY revenue growth, suggesting stronger near-term business momentum.

MetricANL logoANLAdlai Nortye Ltd.ZLAB logoZLABZai Lab LimitedLEGN logoLEGNLegend Biotech Co…ZYME logoZYMEZymeworks Inc.
RevenueTrailing 12 months$6M$453M$1.1B$81M
EBITDAEarnings before interest/tax-$64M-$227M-$96M-$118M
Net IncomeAfter-tax profit-$54M-$178M-$250M-$103M
Free Cash FlowCash after capex-$67M-$129M-$236M-$45.7B
Gross MarginGross profit ÷ Revenue+100.0%+57.9%+55.0%+94.4%
Operating MarginEBIT ÷ Revenue-10.0%-53.5%-11.9%-140.4%
Net MarginNet income ÷ Revenue-8.3%-39.3%-22.0%-126.3%
FCF MarginFCF ÷ Revenue-10.3%-28.5%-20.8%-563.0%
Rev. Growth (YoY)Latest quarter vs prior year-6.5%+56.4%-91.1%
EPS Growth (YoY)Latest quarter vs prior year+78.7%-11.1%+45.5%-96.7%
LEGN leads this category, winning 4 of 6 comparable metrics.

Valuation Metrics

ZLAB leads this category, winning 2 of 4 comparable metrics.
MetricANL logoANLAdlai Nortye Ltd.ZLAB logoZLABZai Lab LimitedLEGN logoLEGNLegend Biotech Co…ZYME logoZYMEZymeworks Inc.
Market CapShares × price$322M$1.9B$6.6B$1.7B
Enterprise ValueMkt cap + debt − cash$289M$1.4B$6.1B$1.7B
Trailing P/EPrice ÷ TTM EPS-2.11x-10.67x-22.42x-21.19x
Forward P/EPrice ÷ next-FY EPS est.393.31x15.46x
PEG RatioP/E ÷ EPS growth rate
EV / EBITDAEnterprise value multiple
Price / SalesMarket cap ÷ Revenue4.11x6.45x15.89x
Price / BookPrice ÷ Book value/share4.31x2.61x6.60x6.42x
Price / FCFMarket cap ÷ FCF
ZLAB leads this category, winning 2 of 4 comparable metrics.

Profitability & Efficiency

ZYME leads this category, winning 5 of 9 comparable metrics.

ZYME delivers a -0.2% return on equity — every $100 of shareholder capital generates $-0 in annual profit, vs $-101 for ANL. ZYME carries lower financial leverage with a 0.07x debt-to-equity ratio, signaling a more conservative balance sheet compared to ANL's 1.07x. On the Piotroski fundamental quality scale (0–9), ZYME scores 5/9 vs LEGN's 2/9, reflecting solid financial health.

MetricANL logoANLAdlai Nortye Ltd.ZLAB logoZLABZai Lab LimitedLEGN logoLEGNLegend Biotech Co…ZYME logoZYMEZymeworks Inc.
ROE (TTM)Return on equity-101.3%-24.3%-24.9%-0.2%
ROA (TTM)Return on assets-50.2%-15.5%-14.9%-0.1%
ROICReturn on invested capital-7.3%-41.7%-12.7%-25.9%
ROCEReturn on capital employed-103.8%-27.2%-11.0%-27.3%
Piotroski ScoreFundamental quality 0–92325
Debt / EquityFinancial leverage1.07x0.31x0.41x0.07x
Net DebtTotal debt minus cash-$34M-$455M-$488M-$23M
Cash & Equiv.Liquid assets$61M$680M$902M$41M
Total DebtShort + long-term debt$27M$224M$414M$18M
Interest CoverageEBIT ÷ Interest expense-28.22x-30.73x-10.08x-52.03x
ZYME leads this category, winning 5 of 9 comparable metrics.

Total Returns (Dividends Reinvested)

ZYME leads this category, winning 3 of 6 comparable metrics.

A $10,000 investment in LEGN five years ago would be worth $8,870 today (with dividends reinvested), compared to $1,004 for ZLAB. Over the past 12 months, ANL leads with a +545.0% total return vs ZLAB's -60.3%. The 3-year compound annual growth rate (CAGR) favors ZYME at 39.9% vs LEGN's -19.3% — a key indicator of consistent wealth creation.

MetricANL logoANLAdlai Nortye Ltd.ZLAB logoZLABZai Lab LimitedLEGN logoLEGNLegend Biotech Co…ZYME logoZYMEZymeworks Inc.
YTD ReturnYear-to-date+647.8%-1.5%+66.8%-14.0%
1-Year ReturnPast 12 months+545.0%-60.3%-5.4%+74.7%
3-Year ReturnCumulative with dividends-31.2%-38.2%-47.5%+173.7%
5-Year ReturnCumulative with dividends-31.2%-90.0%-11.3%-39.7%
10-Year ReturnCumulative with dividends-31.2%-38.9%-3.1%+76.0%
CAGR (3Y)Annualised 3-year return-11.7%-14.8%-19.3%+39.9%
ZYME leads this category, winning 3 of 6 comparable metrics.

Risk & Volatility

LEGN leads this category, winning 2 of 2 comparable metrics.

LEGN is the less volatile stock with a 0.70 beta — it tends to amplify market swings less than ANL's 1.39 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. LEGN currently trades 79.2% from its 52-week high vs ZLAB's 38.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricANL logoANLAdlai Nortye Ltd.ZLAB logoZLABZai Lab LimitedLEGN logoLEGNLegend Biotech Co…ZYME logoZYMEZymeworks Inc.
Beta (5Y)Sensitivity to S&P 5001.39x1.15x0.70x0.87x
52-Week HighHighest price in past year$17.25$44.34$45.30$29.75
52-Week LowLowest price in past year$0.88$15.96$16.24$11.51
% of 52W HighCurrent price vs 52-week peak+59.8%+38.5%+79.2%+76.9%
RSI (14)Momentum oscillator 0–10039.043.466.236.7
Avg Volume (50D)Average daily shares traded380K842K2.7M584K
LEGN leads this category, winning 2 of 2 comparable metrics.

Analyst Outlook

Insufficient data to determine a leader in this category.

Analyst consensus: ANL as "Buy", ZLAB as "Buy", LEGN as "Buy", ZYME as "Buy". Consensus price targets imply 151.9% upside for ANL (target: $26) vs 66.7% for LEGN (target: $60).

MetricANL logoANLAdlai Nortye Ltd.ZLAB logoZLABZai Lab LimitedLEGN logoLEGNLegend Biotech Co…ZYME logoZYMEZymeworks Inc.
Analyst RatingConsensus buy/hold/sellBuyBuyBuyBuy
Price TargetConsensus 12-month target$26.00$35.00$59.78$40.67
# AnalystsCovering analysts1111920
Dividend YieldAnnual dividend ÷ price
Dividend StreakConsecutive years of raises
Dividend / ShareAnnual DPS
Buyback YieldShare repurchases ÷ mkt cap0.0%0.0%0.0%+2.5%
Insufficient data to determine a leader in this category.
Key Takeaway

LEGN leads in 2 of 6 categories (Income & Cash Flow, Risk & Volatility). ZYME leads in 2 (Profitability & Efficiency, Total Returns).

Best OverallLegend Biotech Corporation (LEGN)Leads 2 of 6 categories
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ANL vs ZLAB vs LEGN vs ZYME: Key Questions Answered

9 questions · data-driven answers · updated daily

01

Is ANL or ZLAB or LEGN or ZYME a better buy right now?

For growth investors, Legend Biotech Corporation (LEGN) is the stronger pick with 64.

0% revenue growth year-over-year, versus -100. 0% for Adlai Nortye Ltd. (ANL). Analysts rate Adlai Nortye Ltd. (ANL) a "Buy" — based on 1 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

02

Which is the better long-term investment — ANL or ZLAB or LEGN or ZYME?

Over the past 5 years, Legend Biotech Corporation (LEGN) delivered a total return of -11.

3%, compared to -90. 0% for Zai Lab Limited (ZLAB). Over 10 years, the gap is even starker: ZYME returned +76. 0% versus ZLAB's -38. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

03

Which is safer — ANL or ZLAB or LEGN or ZYME?

By beta (market sensitivity over 5 years), Legend Biotech Corporation (LEGN) is the lower-risk stock at 0.

70β versus Adlai Nortye Ltd. 's 1. 39β — meaning ANL is approximately 98% more volatile than LEGN relative to the S&P 500. On balance sheet safety, Zymeworks Inc. (ZYME) carries a lower debt/equity ratio of 7% versus 107% for Adlai Nortye Ltd. — giving it more financial flexibility in a downturn.

04

Which is growing faster — ANL or ZLAB or LEGN or ZYME?

By revenue growth (latest reported year), Legend Biotech Corporation (LEGN) is pulling ahead at 64.

0% versus -100. 0% for Adlai Nortye Ltd. (ANL). On earnings-per-share growth, the picture is similar: Adlai Nortye Ltd. grew EPS 68. 3% year-over-year, compared to -64. 9% for Legend Biotech Corporation. Over a 3-year CAGR, LEGN leads at 106. 4% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

05

Which has better profit margins — ANL or ZLAB or LEGN or ZYME?

Legend Biotech Corporation (LEGN) is the more profitable company, earning -28.

8% net margin versus -833. 1% for Adlai Nortye Ltd. — meaning it keeps -28. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: LEGN leads at -13. 3% versus -996. 4% for ANL. At the gross margin level — before operating expenses — ANL leads at 100. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

06

Is ANL or ZLAB or LEGN or ZYME more undervalued right now?

On forward earnings alone, Zymeworks Inc.

(ZYME) trades at 15. 5x forward P/E versus 393. 3x for Legend Biotech Corporation — 377. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ANL: 151. 9% to $26. 00.

07

Which pays a better dividend — ANL or ZLAB or LEGN or ZYME?

None of the stocks in this comparison currently pay a material dividend.

All are effectively zero-yield and should be held for capital appreciation rather than income.

08

Is ANL or ZLAB or LEGN or ZYME better for a retirement portfolio?

For long-horizon retirement investors, Legend Biotech Corporation (LEGN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.

70)). Both have compounded well over 10 years (LEGN: -3. 1%, ANL: -31. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

09

What are the main differences between ANL and ZLAB and LEGN and ZYME?

Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: ANL is a small-cap quality compounder stock; ZLAB is a small-cap high-growth stock; LEGN is a small-cap high-growth stock; ZYME is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.

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