Zai Lab Limited (ZLAB) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 944.73M | 1.02B | 1.03B | 1.03B | 1.04B | 1.05B | 860.55M | 869.92M | 888.64M | 939.61M | 959.73M | 1.02B | 1.07B | 1.12B | 1.21B | 1.34B | 1.39B | 1.5B | 1.62B | 1.81B |
| Cash & Short-Term Investments | 661.32M | 689.57M | 717.15M | 732.16M | 757.26M | 779.67M | 616.09M | 630.05M | 650.78M | 806.45M | 820.41M | 874.65M | 930.39M | 1.01B | 1.12B | 1.26B | 1.31B | 1.41B | 1.57B | 1.77B |
| Cash Only | 651.32M | 679.57M | 717.15M | 732.16M | 757.26M | 449.67M | 616.09M | 630.05M | 650.78M | 790.15M | 788.81M | 859.15M | 879.84M | 1.01B | 1.12B | 680.82M | 846.96M | 964.1M | 1.4B | 1.77B |
| Short-Term Investments | 10M | 10M | 0 | 0 | 0 | 330M | 0 | 0 | 0 | 16.3M | 31.6M | 15.5M | 50.55M | 0 | 0 | 575.27M | 465.27M | 445M | 170M | 0 |
| Accounts Receivable | 54.07M | 106.12M | 105M | 99.34M | 87.67M | 89.41M | 69.25M | 77.74M | 75.78M | 65.33M | 65.28M | 68.06M | 60.73M | 48.57M | 39.07M | 38.24M | 44.24M | 54.81M | 21.02M | 18.03M |
| Days Sales Outstanding | 72.36 | 76.11 | 80.97 | 77.37 | 74.83 | 66.91 | 66.12 | 69.5 | 73.68 | 91.26 | 88.6 | 85.1 | 78.32 | 64.4 | 61.8 | 77.9 | 95.4 | 78.97 | 41.67 | 33.07 |
| Inventory | 85.96M | 74.75M | 67.14M | 61.7M | 53.05M | 39.88M | 39.55M | 41.85M | 37.85M | 44.83M | 44.23M | 36.35M | 38.41M | 31.62M | 29.13M | 23.34M | 20.29M | 18.95M | 12.49M | 11.11M |
| Days Inventory Outstanding | 188.65 | 104.71 | 126.41 | 120.81 | 108.21 | 86.8 | 101.42 | 102.92 | 111.9 | 162.32 | 145.48 | 143.14 | 147.69 | 133.56 | 120.42 | 114.04 | 25.41 | 7.46 | 16.13 | 7.06 |
| Other Current Assets | 143.38M | 148.85M | 143.65M | 140.86M | 143.88M | 141.53M | 135.67M | 120.29M | 124.22M | 23M | 29.82M | 38.43M | 42.77M | 35.67M | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 151.01M | 153.1M | 125.99M | 130.04M | 131.46M | 135.27M | 124.8M | 117.44M | 99.8M | 96.69M | 83.96M | 88.87M | 97.78M | 95.8M | 88.68M | 83.13M | 107.66M | 109.08M | 108.99M | 86.61M |
| Property, Plant & Equipment | 64.65M | 66.54M | 64.62M | 66.95M | 68.73M | 69.47M | 63.63M | 63.72M | 67.66M | 68.69M | 71.82M | 75.61M | 80.18M | 78.77M | 74.86M | 69.56M | 67.19M | 58.28M | 53.73M | 50.5M |
| Fixed Asset Turnover | 1.52x | 1.95x | 1.76x | 1.62x | 1.54x | 1.64x | 1.61x | 1.53x | 1.28x | 0.94x | 0.94x | 0.88x | 0.79x | 0.81x | 0.80x | 0.70x | 0.74x | 0.79x | 0.83x | 0.77x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 75.76M | 76.14M | 58.13M | 56.52M | 59.08M | 58.93M | 54.68M | 47.05M | 15.43M | 16.46M | 4.63M | 4.76M | 8.4M | 8.4M | 8.36M | 8.96M | 9.52M | 9.66M | 9.43M | 9.58M |
| Long-Term Investments | 0 | 0 | 0 | 1.11M | 1.11M | 3.12M | 3.15M | 4.07M | 14.11M | 9.22M | 4.47M | 5.13M | 6.87M | 6.43M | 3.32M | 2.83M | 8.44M | 15.61M | 20.8M | 1.07M |
| Other Non-Current Assets | 7.15M | 7.02M | 3.24M | 5.46M | 2.53M | 3.75M | 3.33M | 1.16M | 1.11M | 2.32M | 3.05M | 3.37M | 2.33M | 2.2M | 2.14M | 1.79M | 22.51M | 25.53M | 25.03M | 25.46M |
| Total Assets | 1.1B | 1.17B | 1.16B | 1.16B | 1.17B | 1.19B | 985.35M | 987.37M | 988.44M | 1.04B | 1.04B | 1.11B | 1.17B | 1.22B | 1.3B | 1.42B | 1.5B | 1.61B | 1.73B | 1.9B |
| Asset Turnover | 0.09x | 0.11x | 0.10x | 0.09x | 0.09x | 0.10x | 0.10x | 0.10x | 0.09x | 0.06x | 0.06x | 0.06x | 0.05x | 0.05x | 0.04x | 0.03x | 0.03x | 0.03x | 0.02x | 0.02x |
| Asset Growth % | -6.61% | -1.13% | 17.62% | 17.9% | 18.71% | 14.42% | -5.59% | -10.76% | -15.52% | -15.07% | -19.62% | -22.02% | -22.04% | -24.21% | -24.86% | -25.14% | 32.67% | 24.07% | - | 245.71% |
| Total Current Liabilities | 392.98M | 416.17M | 359.77M | 331.5M | 319.81M | 299.38M | 286.31M | 251.72M | 192.11M | 203.07M | 124.9M | 133.35M | 124.56M | 139.84M | 155.55M | 168.88M | 154.91M | 192.9M | 112.01M | 193.92M |
| Accounts Payable | 126.17M | 141.61M | 99.71M | 107.36M | 103.02M | 100.91M | 120.65M | 127.34M | 88.12M | 112.99M | 55.02M | 67.03M | 66.36M | 65.97M | 90.11M | 108.44M | 98.16M | 126.16M | 51.41M | 125.62M |
| Days Payables Outstanding | 314.33 | 178.09 | 203.16 | 221.47 | 237.44 | 242.13 | 309.01 | 278.25 | 272.19 | 306.24 | 220.35 | 255.41 | 279.1 | 343.14 | 455.67 | 540.04 | 145.25 | 42.15 | 120.99 | 49.64 |
| Short-Term Debt | 219.8M | 210.87M | 203.03M | 174.51M | 173.41M | 131.71M | 112.99M | 70.3M | 48.27M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 28.63M | 27.33M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 18.38M | 36.35M | 51.54M | 4.8M | 2.98M | 6.35M | 2.85M | 5.89M | 5.28M | 5.35M | 2.83M | 3.5M | 3.49M | 4.05M | 4.84M | 5.83M | 3.24M | 4.42M | 8.17M | 15.71M |
| Current Ratio | 2.40x | 2.45x | 2.87x | 3.12x | 3.26x | 3.51x | 3.01x | 3.46x | 4.63x | 4.63x | 7.68x | 7.63x | 8.61x | 8.04x | 7.78x | 7.91x | 8.99x | 7.78x | 14.45x | 9.33x |
| Quick Ratio | 2.19x | 2.27x | 2.68x | 2.93x | 3.09x | 3.38x | 2.87x | 3.29x | 4.43x | 4.41x | 7.33x | 7.36x | 8.30x | 7.81x | 7.59x | 7.77x | 8.86x | 7.68x | 14.34x | 9.27x |
| Cash Conversion Cycle | -53.32 | 2.73 | 4.21 | -23.29 | -54.41 | -88.42 | -141.48 | -105.83 | -86.61 | -52.65 | 13.73 | -27.17 | -53.09 | -145.19 | -273.45 | -348.1 | -24.45 | 44.28 | -63.18 | -9.52 |
| Total Non-Current Liabilities | 40.77M | 40.72M | 39.23M | 40.87M | 42.77M | 45.47M | 31.36M | 31.47M | 34.16M | 37.11M | 37.82M | 40.7M | 44.27M | 34.7M | 37.1M | 37.73M | 37.99M | 37.1M | 28.14M | 29.6M |
| Long-Term Debt | 12.11M | 13.38M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 10.84M | 11.31M | 12.32M | 13.71M | 6.11M | 5.8M | 7.54M | 8.05M | 9.81M | 11.76M | 12.98M | 13.34M | 13.89M | 12.96M | 11.1M | 9.61M | 10.65M | 11.97M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 28.67M | 27.33M | 28.39M | 325K | 325K | 325K | 325K | 325K | 325K | 325K | 325K | 325K | 325K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 433.76M | 456.88M | 399M | 372.37M | 362.58M | 344.86M | 317.68M | 283.19M | 226.27M | 240.18M | 162.72M | 174.06M | 168.83M | 174.54M | 192.65M | 206.61M | 192.91M | 230M | 140.15M | 223.52M |
| Total Debt | 231.91M | 224.26M | 219.36M | 191.4M | 192.3M | 153.47M | 125.69M | 83.68M | 63.35M | 15.15M | 16.69M | 19.05M | 20.3M | 20.39M | 20.87M | 19.78M | 17.89M | 15.54M | 16.96M | 18.34M |
| Net Debt | -419.41M | -455.31M | -497.79M | -540.76M | -564.97M | -296.2M | -490.39M | -546.37M | -587.43M | -775M | -772.11M | -840.1M | -859.55M | -988.08M | -1.1B | -661.04M | -829.06M | -948.56M | -1.38B | -1.75B |
| Debt / Equity | 0.35x | 0.31x | 0.29x | 0.24x | 0.24x | 0.18x | 0.19x | 0.12x | 0.08x | 0.02x | 0.02x | 0.02x | 0.02x | 0.02x | 0.02x | 0.02x | 0.01x | 0.01x | 0.01x | 0.01x |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -29.28x | -38.19x | -24.69x | -31.27x | -39.81x | -89.36x | -54.93x | -162.16x | -472.19x | - | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 661.98M | 715.5M | 759.95M | 791.74M | 810.75M | 840.9M | 667.67M | 704.18M | 762.17M | 796.12M | 880.98M | 932.31M | 1B | 1.05B | 1.11B | 1.21B | 1.31B | 1.38B | 1.59B | 1.67B |
| Equity Growth % | -18.35% | -14.91% | 13.82% | 12.43% | 6.37% | 5.62% | -24.21% | -24.47% | -23.88% | -23.86% | -20.34% | -23.09% | -23.45% | -24.23% | -30.36% | -27.49% | 29.55% | 18.01% | - | 259.14% |
| Book Value per Share | 5.98 | 6.47 | 6.90 | 7.25 | 7.50 | 8.26 | 68.41 | 72.15 | 78.32 | 82.04 | 90.94 | 96.63 | 104.14 | 108.92 | 115.30 | 126.57 | 136.89 | 144.58 | 167.09 | 179.66 |
| Total Shareholders' Equity | 661.98M | 715.5M | 759.95M | 791.74M | 810.75M | 840.9M | 667.67M | 704.18M | 762.17M | 796.12M | 880.98M | 932.31M | 1B | 1.05B | 1.11B | 1.21B | 1.31B | 1.38B | 1.59B | 1.67B |
| Common Stock | 7K | 7K | 7K | 7K | 7K | 7K | 6K | 6K | 6K | 6K | 6K | 6K | 6K | 6K | 6K | 6K | 6K | 6K | 6K | 6K |
| Retained Earnings | -2.68B | -2.63B | -2.58B | -2.54B | -2.5B | -2.45B | -2.37B | -2.33B | -2.25B | -2.2B | -2.1B | -2.03B | -1.91B | -1.86B | -1.8B | -1.64B | -1.5B | -1.42B | -1.21B | -1.11B |
| Treasury Stock | 0 | 0 | -29.05M | -20.86M | -20.84M | -20.84M | -20.84M | -20.84M | -20.84M | -20.84M | -20.79M | -20.53M | -16.99M | -11.86M | -11.46M | -11.13M | -4.35M | -4.28M | -3.53M | -924K |
| Accumulated OCI | 15.11M | 29.7M | 39.65M | 46.35M | 49.3M | 50.52M | 28.27M | 42.77M | 39.17M | 37.63M | 47.95M | 52.18M | 17.27M | 25.68M | 39.55M | 4.49M | -25.84M | -23.64M | -15.12M | -16.86M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |