Zai LabZLAB +0.76%64 Net Current Asset Value is $4.60 as of Mar. 2026, which is 33% above its 10-year median of 3.47. GuruFocus rates ZLAB with a GF Score™ of 64/100 and a GF Value™ of $30.30 (Possible Value Trap). The stock has 8 warning signs investors should review. Among 947 Biotechnology companies, Zai Lab ranks better than 55.33% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Zai Lab's net current asset value per share for the quarter that ended in Mar. 2026 was $4.60.
The historical rank and industry rank for Zai Lab's Net Current Asset Value or its related term are showing as below:
ZLAB'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.49 Med: 3.47 Max: 12.73
Current: 4.03
During the past 11 years, the highest Price-to-Net-Current-Asset-Value Ratio of Zai Lab was 12.73. The lowest was 0.49. And the median was 3.47.
ZLAB's Price-to-Net-Current-Asset-Value is ranked better than 55.33% of 947
companies
in the Biotechnology industry
Industry Median: 4.73
vs ZLAB: 4.03
Zai Lab (NAS:ZLAB) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Zai Lab Net Current Asset Value Related Terms
Zai Lab Net Current Asset Value Historical Data
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The historical data trend for Zai Lab's Net Current Asset Value 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.
ZLAB vs TYRA, TRVI, OCUL: Net Current Asset Value Comparison
For the Biotechnology subindustry, Zai Lab's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value 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 Price-to-Net-Current-Asset-Value vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Zai Lab's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Zai Lab's Price-to-Net-Current-Asset-Value falls into.
* 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.
What does a Net Current Asset Value of $4.60 mean?
Zai Lab (ZLAB) has a Net Current Asset Value of $4.60 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Zai Lab and its competitors. This is 33% above median its historical median of 3.47. Over the past decade, Zai Lab's Net Current Asset Value has ranged from 0.49 to 12.73. According to the industry distribution chart, Zai Lab ranks #423 out of 947 companies in the Biotechnology industry, placing it in the top 44.7%.
Is Zai Lab's Net Current Asset Value too high?
Zai Lab's current Net Current Asset Value of $4.60 is 33% above median its 10-year median of 3.47. Over the past 10 years, this metric has ranged from a low of 0.49 to a high of 12.73. The Biotechnology industry median Net Current Asset Value is 4.73. Zai Lab's value of $4.60 is 2.7% below this industry median. Based on the distribution chart, Zai Lab ranks #423 out of 947 companies in the Biotechnology industry, which is above the industry midpoint. Overall, Zai Lab has a GF Score™ of 64/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Zai Lab's Net Current Asset Value compare to TYRA and TRVI?
According to the Biotechnology industry distribution chart, Zai Lab ranks #423 out of 947 companies for Net Current Asset Value. This puts Zai Lab in the upper half of its industry. The industry median Net Current Asset Value is 4.73. Zai Lab's value of $4.60 is 2.7% below this benchmark. Historically, Zai Lab's own Net Current Asset Value has ranged from 0.49 to 12.73 over the past decade. While the company's 10-year median is 3.47 vs. the industry median of 4.73, Zai Lab has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for a Biotechnology company?
The median Net Current Asset Value among Biotechnology companies is 4.73, based on 947 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Zai Lab's current Net Current Asset Value of $4.60 is 2.7% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Zai Lab and its competitors. For the Biotechnology industry, the median Net Current Asset Value is 4.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zai Lab's current Net Current Asset Value is $4.60, which is 33% above median its own 10-year median of 3.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zai Lab stock overvalued right now?
Based on GuruFocus' analysis, Zai Lab (ZLAB) is currently considered Possible Value Trap. The stock's GF Value™ is $30.30, compared to a current price of $18.52 — trading 38.9% below its estimated fair value. The current Net Current Asset Value is $4.60, which is 33% above median its 10-year median of 3.47 and 2.7% below the Biotechnology industry median of 4.73. Zai Lab's overall GF Score™ is 64/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Zai Lab (ZLAB), the current Net Current Asset Value is $4.60 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Zai Lab (ZLAB) Overvalued in 2026?
Based on GuruFocus' analysis, Zai Lab stock appears to be undervalued.
The current stock price of $18.52 is trading 38.9% below its estimated GF Value™ of $30.30.
GuruFocus considers Zai Lab to be Possible Value Trap.
Key valuation signals for ZLAB:
Net Current Asset Value: $4.60 (33% above median its 10-year median of 3.47)
GF Value™: $30.30 vs. price of $18.52 (38.9% below fair value)
Industry Position: 2.7% below the Biotechnology median (#423 of 947)
No single metric tells the full story. See the ZLAB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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. Zai Lab has a diverse pipeline of potentially first-in-class product candidates developed through in-house R&D and global partnerships. The company has successfully commercialized several products in China, including Zejula, Optune, Qinlock, and Nuzyra, with plans for further expansion The pipeline of proprietary drug candidates of the company includes ZL-1222, ZL-1311, ZL-6201 and many others.
64GF Score
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