Zymeworks (ZYME) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Zymeworks

NasdaqGS•Healthcare•Biotechnology

$26.57-0.91(-0.03%)Market closed

Market Cap

$1.94B

P/S

52.2x

P/B

24.1x

Zymeworks Inc., a biotechnology company, develops biotherapeutics for the treatment of cancer, inflammation, and autoimmune diseases. The company's platforms include Azymetric multispecific antibody platform; Drug Conjugate platform that includes a suite of proprietary cytotoxins comprising topoisomerase and microtubulin inhibiting toxins, stable linkers, and conjugation technologies; EFECT platform, which consists of a set of modifications to the Fc region of antibodies; and ProTECT, a tumor-specific immune co-stimulation platform. Its lead product candidates include Ziihera (zanidatamab-hrii), a bispecific antibody targeting HER2-expressing tumors; zanidatamab for the treatment of neoadjuvant populations, breast cancer, and other HER2-expressing cancers; Pasritamig, a bispecific T cell engager targeting human kallikrein 2 for the treatment monotherapy and castration resistant prostate cancer; ZW191, a clinical- antibody-drug conjugates (ADC) that targets folate receptor alpha expressing tumors, including ovarian, endometrial, and non-small cell lung cancers; ZW251, a clinical-stage ADC molecule for the treatment of glypican 3 expressing hepatocellular carcinoma; ZW220, an ADC that targets NaPi2b-expressing NSCLC and ovarian cancer; ZW209, a novel TriTCE targeting Delta-like ligand 3 -expressing tumor cells for the treatment of solid tumors; and ZW1528, a bispecific molecule to treat chronic obstructive pulmonary disease. It has strategic partnerships and collaborations with Jazz Pharmaceuticals plc; Bristol- Myers Squibb company; Celgene Alpine Investment Co. LLC; GlaxoSmithKline Intellectual Property Development Limited; Daiichi Sankyo Co., Ltd.; Merck Sharp & Dohme Research GmbH; and Janssen Biotech, Inc. Zymeworks Inc. was incorporated in 2003 and is based in Middletown, Delaware.

How this company scores

WeakMetricSide Score: 38/100

Strongest: Balance Sheet & Red Flags (15/25); weakest: Cash & Earnings Quality (7/25).

Profitability9/25

Growth7/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality7/25

Strengths

Interest easily coveredNet cash positionImproving marginsNo share dilution

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 6.6x5y range 6.6x – 11.8x

P/S · 52.2x5y range 1.0x – 52.2x

Currently above its 13-quarter median.

P/B · 24.1x5y range 1.0x – 24.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $1.94B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $37.13M
Q. Revenue: $4.59M
TTM EBITDA: $-150.65M
TTM Op. Income: $-155.56M
Q. Op. Income: $-42.18M
TTM Net Income: $-149.99M
Q. Net Income: $-45.02M
EPS: $-0.62
Shares Out.: $72.99M

$37.13M in TTM revenue declined 69.8% YoY, reaching $4.59M last quarter. TTM EBITDA of $-150.65M and TTM operating income of $-155.56M show growth is flowing through to the bottom line. However, net income is negative at $149.99M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has fallen for 3 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -894.3%
Op. Margin: -919.0%
Net Margin: -980.8%

Op. margin of -919.0% is down 917.6% YoY — costs are rising relative to revenue. Net margin at -980.8% Over the past year, operating margin is down 66335% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 52.2x
P/B Ratio: 24.1x

P/S of 52.2x and P/B of 24.1x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $396.96M
Cash: $179.41M
Long-Term Debt: N/A
Book Value: $80.37M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-31.95M
TTM Free Cash Flow: $-120.54M
FCF Margin: -324.7%
FCF / Net Income: 0.8

TTM FCF of $-120.54M on $-31.95M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.