Zymeworks Inc.

Health Care
Biotechnology: Pharmaceutical Preparations
www.zymeworks.com

Earnings Score
Moat Score

Market Cap $780.74M
PE -7
Debt -
Cash $76.20M
EV -
FCF -$77.60M

Earnings

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Sales & Net Margins

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Earnings	-$113.68M
EBIT	-$107.17M
ROE	-35%
ROA	-25%
FCF	-$77.60M
Equity	$324.97M
Growth Stability	1
PE	-6.87
PEG	-24.66
PB	2.4
P/FCF	-10.06
P/S	8.36
Price/Cash	0.1
Net Margins	-83%
Op. Margins	-115%
Earnings CAGR	0%
Sales Growth YoY	170%
Sales Growth QoQ	-13%
Sales CAGR	-3%
FCF CAGR	0%
Equity CAGR	6%
Earnings Stability	-0.8
Earnings Growth YoY	-28%

Earnings Growth QoQ	-4%
Earnings CAGR 5Y	0%
Sales CAGR 5Y	-3%
FCF CAGR 5Y	0%
Equity CAGR 5Y	6%
Earnings CAGR 3Y	-38%
Sales CAGR 3Y	-38%
FCF CAGR 3Y	1%
Equity CAGR 3Y	10%
Market Cap	$780.74M
Revenue	$93.38M
Assets	$425.52M
Cash	$76.20M
Shares Outstanding	69.58M
Earnings Score	6%
Moat Score	2%
Working Capital	241.36M
Current Ratio	4.71
Shares Growth 3y	5%
Equity Growth QoQ	-4%
Equity Growth YoY	-26%

Assets & ROA

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Stockholders Equity & ROE

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Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. Its suite of therapeutic platforms and its fully integrated drug development engine enable precise engineering of differentiated product candidates. Its lead clinical candidate, zanidatamab, is a novel Azymetric HER2-targeted bispecific antibody currently being evaluated in multiple Phase 1, Phase 2, and pivotal clinical trials globally as a targeted treatment option for patients with solid tumors that express HER2. The company is also advancing a deep preclinical pipeline in oncology and other therapeutic areas.

SEC Filings

Direct access to Zymeworks Inc. (ZYME) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 31
2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Zymeworks Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Zymeworks Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 0%

Stability -80%

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Zymeworks Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Zymeworks Inc..

Years

Calculation mode

= -$789M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$78M	-$78M	-$78M	-$78M	-$78M	-$79M	-$79M	-$79M	-$79M	-$79M	-$80M	-$796M
DCF		-$71M	-$64M	-$59M	-$54M	-$49M	-$44M	-$41M	-$37M	-$34M	-$31M	-$307M
Value	-$789M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	-464%	-794%	30%	-156%	-161%	-83%
ROA	-	-55%	21%	-21%	-25%	-25%
ROE	-	-85%	25%	-26%	-36%	-35%

Bad Net Margins (-83.5%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-
Growth Stability	-	-	-	-	-	1

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-32%	1K%	-82%	0%	-3%
Earnings YoY growth	-	17%	-159%	-195%	3%	0%
Equity YoY growth	-	-39%	98%	-6%	-27%	6%
FCF YoY growth	-	32%	-166%	-189%	-7%	0%