Comprehensive Stock Comparison
Compare Ardelyx, Inc. (ARDX) vs Zai Lab Limited (ZLAB) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | ARDX | 22.1% revenue growth vs ZLAB's 15.3% |
| Quality / Margins | ARDX | -14.2% net margin vs ZLAB's -38.1% |
| Stability / Safety | ARDX | Beta 0.62 vs ZLAB's 0.99 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | ARDX | +22.2% vs ZLAB's -44.5% |
| Efficiency (ROA) | ARDX | -11.6% ROA vs ZLAB's -15.0%, ROIC -10.8% vs -42.8% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Ardelyx is a biopharmaceutical company that develops and commercializes novel medicines for gastrointestinal and cardiorenal diseases. It generates revenue primarily from sales of its FDA-approved drug tenapanor — marketed as IBSRELA for irritable bowel syndrome with constipation and XPHOZAH for hyperphosphatemia in chronic kidney disease patients — along with partnership milestone payments and royalties from international licensing deals. The company's competitive advantage lies in its proprietary NHE3 inhibitor technology platform, which enables development of first-in-class oral therapies targeting specific ion transport pathways with potentially better safety profiles than existing treatments.
Zai Lab is a biopharmaceutical company that licenses, develops, and commercializes innovative therapies for oncology, autoimmune disorders, and infectious diseases primarily in Greater China. It generates revenue through product sales of its commercialized drugs — like Zejula for ovarian cancer and NUZYRA for bacterial infections — supplemented by milestone payments and royalties from its extensive partnership network. The company's key advantage lies in its strategic licensing model that gives it exclusive rights to promising late-stage and commercial-stage therapies for the Greater China market, allowing it to build a diversified portfolio without bearing full R&D costs.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
ARDX leads in 5 of 6 categories — strongest in Financial Metrics and Valuation Metrics.
Financial Metrics (TTM)
ZLAB and ARDX operate at a comparable scale, with $460M and $398M in trailing revenue. ARDX is the more profitable business, keeping -14.2% of every revenue dollar as net income compared to ZLAB's -38.1%. On growth, ZLAB holds the edge at +17.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ARDXArdelyx, Inc. | ZLABZai Lab Limited |
|---|---|---|
| RevenueTrailing 12 months | $398M | $460M |
| EBITDAEarnings before interest/tax | -$35M | -$218M |
| Net IncomeAfter-tax profit | -$57M | -$176M |
| Free Cash FlowCash after capex | -$55M | -$159M |
| Gross MarginGross profit ÷ Revenue | +88.9% | +58.6% |
| Operating MarginEBIT ÷ Revenue | -9.5% | -49.9% |
| Net MarginNet income ÷ Revenue | -14.2% | -38.1% |
| FCF MarginFCF ÷ Revenue | -13.9% | -34.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +12.3% | +17.0% |
| EPS Growth (YoY)Latest quarter vs prior year | — | +43.8% |
Valuation Metrics
| Metric | ARDXArdelyx, Inc. | ZLABZai Lab Limited |
|---|---|---|
| Market CapShares × price | $1.6B | $21.3B |
| Enterprise ValueMkt cap + debt − cash | $1.7B | $20.8B |
| Trailing P/EPrice ÷ TTM EPS | -25.19x | -12.01x |
| Forward P/EPrice ÷ next-FY EPS est. | 401.84x | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | — |
| Price / SalesMarket cap ÷ Revenue | 3.91x | 46.21x |
| Price / BookPrice ÷ Book value/share | 9.46x | 2.94x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
ZLAB delivers a -24.5% return on equity — every $100 of shareholder capital generates $-25 in annual profit, vs $-37 for ARDX. ZLAB carries lower financial leverage with a 0.31x debt-to-equity ratio, signaling a more conservative balance sheet compared to ARDX's 1.25x.
| Metric | ARDXArdelyx, Inc. | ZLABZai Lab Limited |
|---|---|---|
| ROE (TTM)Return on equity | -36.7% | -24.5% |
| ROA (TTM)Return on assets | -11.6% | -15.0% |
| ROICReturn on invested capital | -10.8% | -42.8% |
| ROCEReturn on capital employed | -10.6% | -27.9% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 3 |
| Debt / EquityFinancial leverage | 1.25x | 0.31x |
| Net DebtTotal debt minus cash | $140M | -$455M |
| Cash & Equiv.Liquid assets | $68M | $680M |
| Total DebtShort + long-term debt | $208M | $224M |
| Interest CoverageEBIT ÷ Interest expense | -1.27x | -48.75x |
Total Returns (with DRIP)
A $10,000 investment in ARDX five years ago would be worth $38,081 today (with dividends reinvested), compared to $1,186 for ZLAB. Over the past 12 months, ARDX leads with a +22.2% total return vs ZLAB's -44.5%. The 3-year compound annual growth rate (CAGR) favors ARDX at 31.5% vs ZLAB's -19.7% — a key indicator of consistent wealth creation.
| Metric | ARDXArdelyx, Inc. | ZLABZai Lab Limited |
|---|---|---|
| YTD ReturnYear-to-date | +6.5% | +10.9% |
| 1-Year ReturnPast 12 months | +22.2% | -44.5% |
| 3-Year ReturnCumulative with dividends | +127.4% | -48.3% |
| 5-Year ReturnCumulative with dividends | +280.8% | -88.1% |
| 10-Year ReturnCumulative with dividends | +170.7% | -31.2% |
| CAGR (3Y)Annualised 3-year return | +31.5% | -19.7% |
Risk & Volatility
ARDX is the less volatile stock with a 0.62 beta — it tends to amplify market swings less than ZLAB's 0.99 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ARDX currently trades 78.0% from its 52-week high vs ZLAB's 43.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ARDXArdelyx, Inc. | ZLABZai Lab Limited |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.62x | 0.99x |
| 52-Week HighHighest price in past year | $8.40 | $44.34 |
| 52-Week LowLowest price in past year | $3.21 | $15.96 |
| % of 52W HighCurrent price vs 52-week peak | +78.0% | +43.3% |
| RSI (14)Momentum oscillator 0–100 | 46.1 | 57.7 |
| Avg Volume (50D)Average daily shares traded | 4.1M | 622K |
Analyst Outlook
Wall Street rates ARDX as "Buy" and ZLAB as "Buy". Consensus price targets imply 159.5% upside for ARDX (target: $17) vs 82.1% for ZLAB (target: $35).
| Metric | ARDXArdelyx, Inc. | ZLABZai Lab Limited |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $17.00 | $35.00 |
| # AnalystsCovering analysts | 16 | 11 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Ardelyx, Inc. (ARDX) | 100 | 432.78 | +332.8% |
| Zai Lab Limited (ZLAB) | 100 | 28.99 | -71.0% |
Ardelyx, Inc. (ARDX) returned +281% over 5 years vs Zai Lab Limited (ZLAB)'s -88%. A $10,000 investment in ARDX 5 years ago would be worth $38,081 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Ardelyx, Inc. (ARDX) | $24M | $407M | +1595.3% |
| Zai Lab Limited (ZLAB) | $0.00 | $460M | — |
Ardelyx, Inc.'s revenue grew from $24M (2016) to $407M (2025) — a 37.0% CAGR. Zai Lab Limited's revenue grew from $0M (2016) to $460M (2025) — a 0.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Ardelyx, Inc. (ARDX) | -4.7% | -15.1% | -223.3% |
| Zai Lab Limited (ZLAB) | -1074.3% | -38.1% | +96.4% |
Ardelyx, Inc.'s net margin went from -5% (2016) to -15% (2025).
Chart 4EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Ardelyx, Inc. (ARDX) | -2.8 | -0.26 | +90.7% |
| Zai Lab Limited (ZLAB) | -39.7 | -1.6 | +96.0% |
Ardelyx, Inc.'s EPS grew from $-2.80 (2016) to $-0.26 (2025). Zai Lab Limited's EPS grew from $-39.70 (2016) to $-1.60 (2025).
Chart 5Free Cash Flow — 5 Years
Ardelyx, Inc. generated $-44M FCF in 2025 (+72% vs 2021). Zai Lab Limited generated $-159M FCF in 2025 (+72% vs 2021).
ARDX vs ZLAB: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is ARDX or ZLAB a better buy right now?
Analysts rate Ardelyx, Inc. (ARDX) a "Buy" — based on 16 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.
02Which is the better long-term investment — ARDX or ZLAB?
Over the past 5 years, Ardelyx, Inc. (ARDX) delivered a total return of +280.8%, compared to -88.1% for Zai Lab Limited (ZLAB). A $10,000 investment in ARDX five years ago would be worth approximately $38K today (assuming dividends reinvested). Over 10 years, the gap is even starker: ARDX returned +170.7% versus ZLAB's -31.2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — ARDX or ZLAB?
By beta (market sensitivity over 5 years), Ardelyx, Inc. (ARDX) is the lower-risk stock at 0.62β versus Zai Lab Limited's 0.99β — meaning ZLAB is approximately 59% more volatile than ARDX relative to the S&P 500. On balance sheet safety, Zai Lab Limited (ZLAB) carries a lower debt/equity ratio of 31% versus 125% for Ardelyx, Inc. — giving it more financial flexibility in a downturn.
04Which has better profit margins — ARDX or ZLAB?
Ardelyx, Inc. (ARDX) is the more profitable company, earning -15.1% net margin versus -38.1% for Zai Lab Limited — meaning it keeps -15.1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ARDX leads at -10.1% versus -49.9% for ZLAB. At the gross margin level — before operating expenses — ARDX leads at 90.3%, 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.
05Is ARDX or ZLAB more undervalued right now?
Analyst consensus price targets imply the most upside for ARDX: 159.5% to $17.00.
06Which pays a better dividend — ARDX or ZLAB?
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.
07Is ARDX or ZLAB better for a retirement portfolio?
For long-horizon retirement investors, Ardelyx, Inc. (ARDX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.62), +170.7% 10Y return). Both have compounded well over 10 years (ARDX: +170.7%, ZLAB: -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.
08What are the main differences between ARDX and ZLAB?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. 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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