Comprehensive Stock Comparison
Compare Zai Lab Limited (ZLAB) vs ADMA Biologics, Inc. (ADMA) 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 | ADMA | 65.2% revenue growth vs ZLAB's 15.3% |
| Quality / Margins | ADMA | 42.9% net margin vs ZLAB's -38.1% |
| Stability / Safety | ZLAB | Beta 0.99 vs ADMA's 1.10 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | ADMA | -5.0% vs ZLAB's -44.5% |
| Efficiency (ROA) | ADMA | 36.8% ROA vs ZLAB's -15.0%, ROIC 37.7% 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
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.
ADMA Biologics is a biopharmaceutical company that develops, manufactures, and markets specialty plasma-derived biologics for treating immune deficiencies and infectious diseases. It generates revenue primarily from sales of its intravenous immune globulin products — BIVIGAM and ASCENIV — along with its Hepatitis B treatment Nabi-HB, while also operating plasma collection facilities. The company's key advantage is its integrated business model that combines plasma collection, manufacturing, and commercialization, creating a vertically controlled supply chain for plasma-derived therapies.
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
ADMA leads in 2 of 6 categories (Profitability & Efficiency, Total Returns). ZLAB leads in 1 (Valuation Metrics). 2 tied.
Financial Metrics (TTM)
ADMA and ZLAB operate at a comparable scale, with $489M and $460M in trailing revenue. ADMA is the more profitable business, keeping 42.9% 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 | ZLABZai Lab Limited | ADMAADMA Biologics, I… |
|---|---|---|
| RevenueTrailing 12 months | $460M | $489M |
| EBITDAEarnings before interest/tax | -$218M | $175M |
| Net IncomeAfter-tax profit | -$176M | $209M |
| Free Cash FlowCash after capex | -$159M | $41M |
| Gross MarginGross profit ÷ Revenue | +58.6% | +54.7% |
| Operating MarginEBIT ÷ Revenue | -49.9% | +34.2% |
| Net MarginNet income ÷ Revenue | -38.1% | +42.9% |
| FCF MarginFCF ÷ Revenue | -34.5% | +8.3% |
| Rev. Growth (YoY)Latest quarter vs prior year | +17.0% | +12.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +43.8% | 0.0% |
Valuation Metrics
| Metric | ZLABZai Lab Limited | ADMAADMA Biologics, I… |
|---|---|---|
| Market CapShares × price | $21.3B | $3.7B |
| Enterprise ValueMkt cap + debt − cash | $20.8B | $3.7B |
| Trailing P/EPrice ÷ TTM EPS | -12.01x | 19.22x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 16.30x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | 25.10x |
| Price / SalesMarket cap ÷ Revenue | 46.21x | 8.70x |
| Price / BookPrice ÷ Book value/share | 2.94x | 10.86x |
| Price / FCFMarket cap ÷ FCF | — | 33.71x |
Profitability & Efficiency
ADMA delivers a 48.6% return on equity — every $100 of shareholder capital generates $49 in annual profit, vs $-25 for ZLAB. ADMA carries lower financial leverage with a 0.24x debt-to-equity ratio, signaling a more conservative balance sheet compared to ZLAB's 0.31x. On the Piotroski fundamental quality scale (0–9), ADMA scores 7/9 vs ZLAB's 3/9, reflecting strong financial health.
| Metric | ZLABZai Lab Limited | ADMAADMA Biologics, I… |
|---|---|---|
| ROE (TTM)Return on equity | -24.5% | +48.6% |
| ROA (TTM)Return on assets | -15.0% | +36.8% |
| ROICReturn on invested capital | -42.8% | +37.7% |
| ROCEReturn on capital employed | -27.9% | +39.0% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 7 |
| Debt / EquityFinancial leverage | 0.31x | 0.24x |
| Net DebtTotal debt minus cash | -$455M | -$21M |
| Cash & Equiv.Liquid assets | $680M | $103M |
| Total DebtShort + long-term debt | $224M | $82M |
| Interest CoverageEBIT ÷ Interest expense | -48.75x | 19.63x |
Total Returns (with DRIP)
A $10,000 investment in ADMA five years ago would be worth $64,339 today (with dividends reinvested), compared to $1,186 for ZLAB. Over the past 12 months, ADMA leads with a -5.0% total return vs ZLAB's -44.5%. The 3-year compound annual growth rate (CAGR) favors ADMA at 63.7% vs ZLAB's -19.7% — a key indicator of consistent wealth creation.
| Metric | ZLABZai Lab Limited | ADMAADMA Biologics, I… |
|---|---|---|
| YTD ReturnYear-to-date | +10.9% | -12.9% |
| 1-Year ReturnPast 12 months | -44.5% | -5.0% |
| 3-Year ReturnCumulative with dividends | -48.3% | +338.6% |
| 5-Year ReturnCumulative with dividends | -88.1% | +543.4% |
| 10-Year ReturnCumulative with dividends | -31.2% | +227.8% |
| CAGR (3Y)Annualised 3-year return | -19.7% | +63.7% |
Risk & Volatility
ZLAB is the less volatile stock with a 0.99 beta — it tends to amplify market swings less than ADMA's 1.10 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ADMA currently trades 60.7% from its 52-week high vs ZLAB's 43.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ZLABZai Lab Limited | ADMAADMA Biologics, I… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.99x | 1.10x |
| 52-Week HighHighest price in past year | $44.34 | $25.67 |
| 52-Week LowLowest price in past year | $15.96 | $13.50 |
| % of 52W HighCurrent price vs 52-week peak | +43.3% | +60.7% |
| RSI (14)Momentum oscillator 0–100 | 57.7 | 35.7 |
| Avg Volume (50D)Average daily shares traded | 622K | 1.8M |
Analyst Outlook
Wall Street rates ZLAB as "Buy" and ADMA as "Buy". Consensus price targets imply 82.1% upside for ZLAB (target: $35) vs 2.8% for ADMA (target: $16).
| Metric | ZLABZai Lab Limited | ADMAADMA Biologics, I… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $35.00 | $16.00 |
| # AnalystsCovering analysts | 11 | 9 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | 1 |
| 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 |
|---|---|---|---|
| Zai Lab Limited (ZLAB) | 100 | 28.99 | -71.0% |
| ADMA Biologics, Inc. (ADMA) | 100 | 589.23 | +489.2% |
ADMA Biologics, Inc. (ADMA) returned +543% over 5 years vs Zai Lab Limited (ZLAB)'s -88%. A $10,000 investment in ADMA 5 years ago would be worth $64,339 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Zai Lab Limited (ZLAB) | $0.00 | $460M | — |
| ADMA Biologics, Inc. (ADMA) | $11M | $426M | +3900.1% |
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 |
|---|---|---|---|
| Zai Lab Limited (ZLAB) | -1074.3% | -38.1% | +96.4% |
| ADMA Biologics, Inc. (ADMA) | -183.1% | 46.4% | +125.3% |
Chart 4EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Zai Lab Limited (ZLAB) | -39.7 | -1.6 | +96.0% |
| ADMA Biologics, Inc. (ADMA) | -1.61 | 0.81 | +150.3% |
Zai Lab Limited's EPS grew from $-39.70 (2016) to $-1.60 (2025).
Chart 5Free Cash Flow — 5 Years
Zai Lab Limited generated $-159M FCF in 2025 (+72% vs 2021). ADMA Biologics, Inc. generated $110M FCF in 2024 (+187% vs 2021).
ZLAB vs ADMA: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is ZLAB or ADMA a better buy right now?
ADMA Biologics, Inc. (ADMA) offers the better valuation at 19.2x trailing P/E (16.3x forward), making it the more compelling value choice. Analysts rate Zai Lab Limited (ZLAB) a "Buy" — based on 11 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 — ZLAB or ADMA?
Over the past 5 years, ADMA Biologics, Inc. (ADMA) delivered a total return of +543.4%, compared to -88.1% for Zai Lab Limited (ZLAB). A $10,000 investment in ADMA five years ago would be worth approximately $64K today (assuming dividends reinvested). Over 10 years, the gap is even starker: ADMA returned +227.8% 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 — ZLAB or ADMA?
By beta (market sensitivity over 5 years), Zai Lab Limited (ZLAB) is the lower-risk stock at 0.99β versus ADMA Biologics, Inc.'s 1.10β — meaning ADMA is approximately 11% more volatile than ZLAB relative to the S&P 500. On balance sheet safety, ADMA Biologics, Inc. (ADMA) carries a lower debt/equity ratio of 24% versus 31% for Zai Lab Limited — giving it more financial flexibility in a downturn.
04Which has better profit margins — ZLAB or ADMA?
ADMA Biologics, Inc. (ADMA) is the more profitable company, earning 46.4% net margin versus -38.1% for Zai Lab Limited — meaning it keeps 46.4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ADMA leads at 32.6% versus -49.9% for ZLAB. At the gross margin level — before operating expenses — ZLAB leads at 58.6%, 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 ZLAB or ADMA more undervalued right now?
Analyst consensus price targets imply the most upside for ZLAB: 82.1% to $35.00.
06Which pays a better dividend — ZLAB or ADMA?
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 ZLAB or ADMA better for a retirement portfolio?
For long-horizon retirement investors, ADMA Biologics, Inc. (ADMA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.10), +227.8% 10Y return). Both have compounded well over 10 years (ADMA: +227.8%, 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 ZLAB and ADMA?
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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