Comprehensive Stock Comparison
Compare Zai Lab Limited (ZLAB) vs Alkermes plc (ALKS) 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 | ZLAB | 15.3% revenue growth vs ALKS's -5.2% |
| Quality / Margins | ALKS | 16.4% net margin vs ZLAB's -38.1% |
| Stability / Safety | ALKS | Beta 0.61 vs ZLAB's 0.99, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | ALKS | -12.3% vs ZLAB's -44.5% |
| Efficiency (ROA) | ALKS | 9.7% ROA vs ZLAB's -15.0%, ROIC 14.9% 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.
Alkermes is a biopharmaceutical company that develops and commercializes medicines for central nervous system disorders and other serious conditions. It generates revenue primarily from product sales of its proprietary drugs like VIVITROL and ARISTADA — which treat addiction and schizophrenia — along with royalties from partnered products and manufacturing services. The company's competitive advantage lies in its specialized drug delivery technologies that enable long-acting injectable formulations, creating significant barriers to entry for competitors.
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
ALKS leads in 5 of 6 categories — strongest in Financial Metrics and Valuation Metrics.
Financial Metrics (TTM)
ALKS is the larger business by revenue, generating $1.5B annually — 3.2x ZLAB's $460M. ALKS is the more profitable business, keeping 16.4% 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 | ALKSAlkermes plc |
|---|---|---|
| RevenueTrailing 12 months | $460M | $1.5B |
| EBITDAEarnings before interest/tax | -$218M | $281M |
| Net IncomeAfter-tax profit | -$176M | $242M |
| Free Cash FlowCash after capex | -$159M | $520,800 |
| Gross MarginGross profit ÷ Revenue | +58.6% | +86.3% |
| Operating MarginEBIT ÷ Revenue | -49.9% | +17.2% |
| Net MarginNet income ÷ Revenue | -38.1% | +16.4% |
| FCF MarginFCF ÷ Revenue | -34.5% | +0.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +17.0% | -10.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +43.8% | -67.0% |
Valuation Metrics
| Metric | ZLABZai Lab Limited | ALKSAlkermes plc |
|---|---|---|
| Market CapShares × price | $21.3B | $5.0B |
| Enterprise ValueMkt cap + debt − cash | $20.8B | $4.5B |
| Trailing P/EPrice ÷ TTM EPS | -12.01x | 21.05x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 32.04x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | 15.89x |
| Price / SalesMarket cap ÷ Revenue | 46.21x | 3.38x |
| Price / BookPrice ÷ Book value/share | 2.94x | 2.79x |
| Price / FCFMarket cap ÷ FCF | — | 9571.39x |
Profitability & Efficiency
ALKS delivers a 13.3% return on equity — every $100 of shareholder capital generates $13 in annual profit, vs $-25 for ZLAB. ALKS carries lower financial leverage with a 0.04x debt-to-equity ratio, signaling a more conservative balance sheet compared to ZLAB's 0.31x. On the Piotroski fundamental quality scale (0–9), ALKS scores 5/9 vs ZLAB's 3/9, reflecting solid financial health.
| Metric | ZLABZai Lab Limited | ALKSAlkermes plc |
|---|---|---|
| ROE (TTM)Return on equity | -24.5% | +13.3% |
| ROA (TTM)Return on assets | -15.0% | +9.7% |
| ROICReturn on invested capital | -42.8% | +14.9% |
| ROCEReturn on capital employed | -27.9% | +14.4% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 5 |
| Debt / EquityFinancial leverage | 0.31x | 0.04x |
| Net DebtTotal debt minus cash | -$455M | -$518M |
| Cash & Equiv.Liquid assets | $680M | $588M |
| Total DebtShort + long-term debt | $224M | $70M |
| Interest CoverageEBIT ÷ Interest expense | -48.75x | 23.55x |
Total Returns (with DRIP)
A $10,000 investment in ALKS five years ago would be worth $15,677 today (with dividends reinvested), compared to $1,186 for ZLAB. Over the past 12 months, ALKS leads with a -12.3% total return vs ZLAB's -44.5%. The 3-year compound annual growth rate (CAGR) favors ALKS at 4.0% vs ZLAB's -19.7% — a key indicator of consistent wealth creation.
| Metric | ZLABZai Lab Limited | ALKSAlkermes plc |
|---|---|---|
| YTD ReturnYear-to-date | +10.9% | +6.5% |
| 1-Year ReturnPast 12 months | -44.5% | -12.3% |
| 3-Year ReturnCumulative with dividends | -48.3% | +12.6% |
| 5-Year ReturnCumulative with dividends | -88.1% | +56.8% |
| 10-Year ReturnCumulative with dividends | -31.2% | -6.7% |
| CAGR (3Y)Annualised 3-year return | -19.7% | +4.0% |
Risk & Volatility
ALKS is the less volatile stock with a 0.61 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. ALKS currently trades 82.9% 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 | ALKSAlkermes plc |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.99x | 0.61x |
| 52-Week HighHighest price in past year | $44.34 | $36.32 |
| 52-Week LowLowest price in past year | $15.96 | $25.17 |
| % of 52W HighCurrent price vs 52-week peak | +43.3% | +82.9% |
| RSI (14)Momentum oscillator 0–100 | 57.7 | 39.0 |
| Avg Volume (50D)Average daily shares traded | 622K | 1.6M |
Analyst Outlook
Wall Street rates ZLAB as "Buy" and ALKS as "Buy". Consensus price targets imply 82.1% upside for ZLAB (target: $35) vs 52.8% for ALKS (target: $46).
| Metric | ZLABZai Lab Limited | ALKSAlkermes plc |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $35.00 | $46.00 |
| # AnalystsCovering analysts | 11 | 28 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | 0 |
| 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% |
| Alkermes plc (ALKS) | 100 | 164.6 | +64.6% |
Alkermes plc (ALKS) returned +57% over 5 years vs Zai Lab Limited (ZLAB)'s -88%. A $10,000 investment in ALKS 5 years ago would be worth $15,677 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Zai Lab Limited (ZLAB) | $0.00 | $460M | — |
| Alkermes plc (ALKS) | $746M | $1.5B | +97.9% |
Zai Lab Limited's revenue grew from $0M (2016) to $460M (2025) — a 0.0% CAGR. Alkermes plc's revenue grew from $746M (2016) to $1.5B (2025) — a 7.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Zai Lab Limited (ZLAB) | -1074.3% | -38.1% | +96.4% |
| Alkermes plc (ALKS) | -28.0% | 16.4% | +158.6% |
Alkermes plc's net margin went from -28% (2016) to 16% (2025).
Chart 4P/E Ratio History — 3 Years
| Stock | 2023 | 2025 | Change |
|---|---|---|---|
| Alkermes plc (ALKS) | 13.2 | 19.6 | +48.5% |
Alkermes plc has traded in a 13x–20x P/E range over 3 years; current trailing P/E is ~21x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Zai Lab Limited (ZLAB) | -39.7 | -1.6 | +96.0% |
| Alkermes plc (ALKS) | -1.38 | 1.43 | +203.6% |
Zai Lab Limited's EPS grew from $-39.70 (2016) to $-1.60 (2025). Alkermes plc's EPS grew from $-1.38 (2016) to $1.43 (2025).
Chart 6Free Cash Flow — 5 Years
Zai Lab Limited generated $-159M FCF in 2025 (+72% vs 2021). Alkermes plc generated $1M FCF in 2025 (-99% vs 2021).
ZLAB vs ALKS: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is ZLAB or ALKS a better buy right now?
Alkermes plc (ALKS) offers the better valuation at 21.0x trailing P/E (32.0x 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 ALKS?
Over the past 5 years, Alkermes plc (ALKS) delivered a total return of +56.8%, compared to -88.1% for Zai Lab Limited (ZLAB). A $10,000 investment in ALKS five years ago would be worth approximately $16K today (assuming dividends reinvested). Over 10 years, the gap is even starker: ALKS returned -6.7% 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 — ZLAB or ALKS?
By beta (market sensitivity over 5 years), Alkermes plc (ALKS) is the lower-risk stock at 0.61β versus Zai Lab Limited's 0.99β — meaning ZLAB is approximately 63% more volatile than ALKS relative to the S&P 500. On balance sheet safety, Alkermes plc (ALKS) carries a lower debt/equity ratio of 4% versus 31% for Zai Lab Limited — giving it more financial flexibility in a downturn.
04Which has better profit margins — ZLAB or ALKS?
Alkermes plc (ALKS) is the more profitable company, earning 16.4% net margin versus -38.1% for Zai Lab Limited — meaning it keeps 16.4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ALKS leads at 17.2% versus -49.9% for ZLAB. At the gross margin level — before operating expenses — ALKS leads at 86.3%, 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 ZLAB or ALKS 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 ALKS?
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 ALKS better for a retirement portfolio?
For long-horizon retirement investors, Alkermes plc (ALKS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.61)). Both have compounded well over 10 years (ALKS: -6.7%, 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 ZLAB and ALKS?
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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