Latest Ratios: P/E Ratio N/A · EV/EBITDA 7.0x · ROE 3.3%. (2021–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Market Cap | $32M | — | — | — | — |
| Enterprise Value | $42M | — | — | — | — |
| P/E Ratio → | — | — | — | — | — |
| P/S Ratio | 1.16 | — | — | — | — |
| P/B Ratio | 0.61 | — | — | — | — |
| P/FCF | 16.28 | — | — | — | — |
| P/OCF | 5.26 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — |
| EV / EBITDA | 6.99 | — | — | — | — |
| EV / EBIT | 17.27 | — | — | — | — |
| EV / FCF | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Gross Margin | 49.0% | 49.0% | 61.4% | 59.0% | 58.6% |
| Operating Margin | 8.8% | 8.8% | 21.3% | 25.3% | 24.5% |
| Net Profit Margin | 6.1% | 6.1% | 14.9% | 18.0% | 18.2% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| ROE | 3.3% | 3.3% | 9.0% | 13.8% | 12.2% |
| ROA | 2.3% | 2.3% | 6.2% | 9.7% | 8.7% |
| ROIC | 3.0% | 3.0% | 8.2% | 13.1% | 11.5% |
| ROCE | 4.7% | 4.7% | 12.5% | 19.2% | 16.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Debt / Equity | 0.25 | 0.25 | 0.26 | 0.18 | 0.09 |
| Debt / EBITDA | 2.13 | 2.13 | 1.30 | 0.77 | 0.44 |
| Net Debt / Equity | — | 0.19 | 0.22 | 0.15 | 0.07 |
| Net Debt / EBITDA | 1.67 | 1.67 | 1.09 | 0.65 | 0.35 |
| Debt / FCF | — | 5.11 | 2.04 | — | 4.38 |
| Interest Coverage | 4.07 | 4.07 | 10.17 | 23.19 | 50.08 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Current Ratio | 1.31 | 1.31 | 1.37 | 1.41 | 1.31 |
| Quick Ratio | 0.88 | 0.88 | 0.98 | 1.04 | 0.97 |
| Cash Ratio | 0.15 | 0.15 | 0.11 | 0.06 | 0.05 |
| Asset Turnover | — | 0.38 | 0.42 | 0.50 | 0.48 |
| Inventory Turnover | 1.63 | 1.63 | 1.40 | 1.93 | 2.03 |
| Days Sales Outstanding | — | 173.37 | 171.46 | 188.27 | 174.24 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Dividend Yield | 7.4% | — | — | — | — |
| Payout Ratio | 141.7% | 141.7% | 125.4% | 45.8% | 28.4% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | 6.1% | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — |
| Total Shareholder Yield | 7.4% | — | — | — | — |
| Shares Outstanding | — | $0 | $0 | $0 | $0 |
Swine cycle demand volatility
Based on current market data, ZYBT trades at an EV/EBITDA of 6.99 and a P/S of 1.16, suggesting that investors are pricing in the recent 11.95% revenue contraction rather than the potential strategic value of the company's specialized P3 laboratory assets and regional market positioning.
The current valuation multiples appear to reflect a significant discount compared to broader sector peers, likely driven by the company's recent top-line decline and the inherent volatility of the Chinese swine cycle. Investors should monitor whether the 7.4% dividend yield is sustainable or if it serves as a signal of limited internal reinvestment opportunities for the firm's cash reserves.
As reported in financial statements, ZYBT maintains a gross margin of 48.99%, yet the operating margin has compressed to 6.07%, indicating that the firm's high fixed-cost base for biological manufacturing is struggling to achieve the necessary scale to drive meaningful bottom-line profitability in the current environment.
The significant gap between gross and operating margins suggests that administrative and R&D expenses are disproportionately high relative to current revenue levels. This structure implies that any further contraction in government procurement tenders could rapidly erode the company's thin net margin, warranting caution regarding the firm's operational leverage.
According to recent balance sheet disclosures, ZYBT maintains a debt-to-equity ratio of 0.25%, which provides a robust defensive posture that insulates the company from interest rate volatility while allowing it to navigate the current 11.95% revenue decline without immediate pressure to refinance or seek external capital.
This low-leverage profile is a key differentiator for ZYBT, as it avoids the interest coverage risks that often plague smaller industrial manufacturers during cyclical downturns. However, the lack of debt may also suggest a missed opportunity to leverage the balance sheet for strategic acquisitions or R&D expansion during periods of industry consolidation.
Based on industry analysis, the P/E ratio is frequently misapplied to ZYBT, as it fails to account for the lumpy nature of government procurement revenue and the significant impact of non-recurring government subsidies on the company's reported net income, which can distort the true underlying earning power.
Investors should instead focus on EV/EBITDA or cash-flow-based metrics to better understand the company's operational performance, as these measures are less susceptible to the accounting nuances of the Chinese veterinary sector. Relying on P/E ratios in this context may lead to an inaccurate assessment of the firm's valuation relative to its peers.
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Quick answers to the most common questions about buying ZYBT stock.
Zhengye Biotechnology Holding Limited's current EV/EBITDA is 7.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
Zhengye Biotechnology Holding Limited's return on equity (ROE) is 3.3%. The historical average is 9.6%.
Based on historical data, Zhengye Biotechnology Holding Limited is trading at valuation metrics that vary. Compare with industry peers and growth rates for a complete picture.
Zhengye Biotechnology Holding Limited's current dividend yield is 7.41% with a payout ratio of 141.7%.
Zhengye Biotechnology Holding Limited has 49.0% gross margin and 8.8% operating margin.
Zhengye Biotechnology Holding Limited's Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.