Zai Lab (Zai Lab) EBIT

: $-374.1 Mil (TTM As of Dec. 2023)

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Zai Lab's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $-121.5 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $-374.1 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Zai Lab's annualized ROC % for the quarter that ended in Dec. 2023 was -447.58%. Zai Lab's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -692.02%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Zai Lab's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -65.15%.

Zai Lab EBIT Historical Data

The historical data trend for Zai Lab's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Zai Lab Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

-194.03

-267.61

-695.95

-392.89

-374.14

Zai Lab Quarterly Data
	Dec18	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT																-85.82	-69.52	-99.50	-83.57	-121.55

Competitive Comparison

For the Biotechnology subindustry, Zai Lab's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Zai Lab EV-to-EBIT Distribution

For the Biotechnology industry and Healthcare sector, Zai Lab's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Zai Lab's EV-to-EBIT falls into.

Zai Lab EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-374.1 Mil.

Zai Lab (NAS:ZLAB) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Zai Lab's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-486.192 * ( 1 - 0% )	/	( (108.106	+	109.146)	/ 2 )
=	-486.192	/	108.626
=	-447.58 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1043.694	-	115.182	-	( 820.406	-	max(0, 124.896	-	959.731	+	820.406	))
=	108.106

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1036.295	-	190.61	-	( 806.451	-	max(0, 203.067	-	939.606	+	806.451	))
=	109.146

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Zai Lab's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-486.192	/	( ( (71.824 + max(-2.364, 0))	+	(68.689 + max(-68.942, 0)) )	/	2 )
=	-486.192	/	( ( 71.824	+	68.689 )	/	2 )
=	-486.192	/	70.2565
=	-692.02 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(41.596	+	44.229	+	29.821)	-	(115.182	+	0	+	2.828)
=	-2.364

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(59.199	+	44.827	+	22.995)	-	(190.61	+	0	+	5.353)
=	-68.942

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Zai Lab's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	-374.141	/	574.283
	=	-65.15 %

Zai Lab EBIT Related Terms

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Zai Lab (Zai Lab) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Zai Lab Ltd (NAS:ZLAB) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

ZLAB:Mexico 09688:Hong Kong 1ZLB:Germany 1ZLB:Germany 1ZL:Germany 1ZL:Germany

Address

4560 Jinke Road, Jinchuang Plaza, Building 1, 4th Floor, Pudong, Shanghai, CHN, 201210

Website

https://www.zailaboratory.com

Zai Lab Ltd is a biopharmaceutical company focusing on discovering or licensing, developing, and commercializing proprietary therapeutics that address areas of unmet medical need including in the fields of oncology, autoimmune and infectious diseases. The pipeline of proprietary drug candidates of the company includes ZL-2306 for treatment across multiple solid tumor types including ovarian and certain types of breast and lung cancers; ZL-2401 which is an antibiotic in a new class of tetracycline derivatives; and ZL-2301 is an oral, small molecule which targets HCC.

Executives

Harald Reinhart	officer: Chief Medical Officer	4560 JINKE ROAD, BLDG. 1, FOURTH FLOOR, PUDONG, SHANGHAI F4 201210
Edmondson Frazor Titus Iii	officer: Chief Legal Officer	4560 JINKE ROAD, BLDG. 1, FOURTH FLOOR, PUDONG, SHANGHAI F4 201210
Ying Du	director, officer: Chairwoman & CEO	C/O ZAID LAB LIMITED, 4560 JINKE ROAD, BLDG. 1, 4F, PUDONG, SHANGHAI F4 201210
Rafael Amado	officer: See Remarks	210 EAST GRAND AVE, SOUTH SAN FRANCISCO CA 94080
Joshua L Smiley	officer: Chief Operating Officer	LILLY CORPORATE CENTER, INDIANAPOLIS IN 46285
Yajing Chen	officer: Chief Financial Officer	314 MAIN STREET, 4TH FLOOR, SUITE 100, CAMBRIDGE MA 02142
Michel Vounatsos	director	BIOGEN INC., 225 BINNEY ST., CAMBRIDGE MA 02142
Peter Wirth	director	37 HANCOCK STREET, BOSTON MA 02114
John D Diekman	director	C/O 5 AM VENTURES, 501 2ND STREET, SUITE 350, SAN FRANCISCO CA 94107
William Lis	director	PORTOLA PHARMACEUTICALS, INC., 270 EAST GRAND AVENUE, SOUTH SAN FRANCISCO CA 94080
Richard Gaynor	director	C/O NEON THERAPEUTICS, 40 ERIE STREET, SUITE 110, CAMBRIDGE MA 02139
Tao Fu	director, officer: President & COO	3175 HANOVER STREET, PALO ALTO CA 94304
Scott W Morrison	director	C/O GLOBAL BLOOD THERAPEUTICS, INC., 400 EAST JAMIE COURT SUITE 101, SOUTH SAN FRANCISCO CA 94080
Cho William Ki Chul	officer: Chief Financial Officer	4560 JINKE ROAD, BLDG. 1, FOURTH FLOOR, PUDONG, SHANGHAI F4 201210
Kai-xian Chen	director	4560 JINKE ROAD, BLDG. 1, FOURTH FLOOR, PUDONG, SHANGHAI F4 201210