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Zymeworks Inc. (ZYME) stock

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NASDAQ: ZYME Nasdaq Biotechnology Next results ~November 9, 2026

D Fundamentals grade

Zymeworks Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$11

Valuation models combined (3)

Base case. Range ~$7.1–$16. Weighted average of 3 models (growth cash-flow model, forward price-to-earnings vs peers, forward price-to-sales vs peers), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Zymeworks Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 11 sales by directors and officers, last 12 monthsInsider trades
  • Funds83 adding, 101 cuttingOf 42 active managers that changed their stake, 18 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Zymeworks files

Where Zymeworks stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $37m, down 69.8% on a year earlier, a steeper fall than the 13.0% decline a quarter earlier. That puts it 46 of 49 for growth among the biotechnology companies we cover. Free-cash-flow margin fell to -324.7% from -32.9% a year earlier. Operating margin narrowed to -419.0% from -67.3%. The diluted share count is down 2.2% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 2 of our 2 financial-health checks.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 9, 2026 (estimated)

Zymeworks Inc.'s trailing-twelve-month revenue fell 69.8% year on year, with a free-cash-flow margin of -324.7%. Where it stands out: change in share count of -2.2% ranks 14 of 156 biotechnology companies we cover. Where it lags: revenue growth of -69.8% ranks 153 of 172 biotechnology companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 197.9% while net income fell 103.6%: a 94pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 2.2% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.2bn.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 46.7% over 90 days.

Things to watch

  • Revenue shrinking. Revenue fell 69.8% over the last 12 months.
  • Growth slowing. The growth rate is 56.8 points lower than a quarter earlier.
  • Loss-making. Operating margin is -419.0%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 351.7 points on a year ago.
  • Burning cash. Free cash flow was -324.7% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 89.6% of revenue, against a median of 19.2% for biotechnology companies we cover: a real cost that cash-flow figures leave out.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
-$0.62 against an average estimate of -$0.59: missed by 4.8%
Revenue
$5m, down 90.6% on a year earlier
Share reaction
+0.2% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 9, 2026; average EPS estimate $2.19

Zymeworks' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.3%
  • 1 week+2.2%
  • 1 month+15.3%
  • This year+10.1%
  • 1 year+51.9%
  • 5 years+17.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$37.1M
Operating margin
-419.0%
Net margin
-404.0%
EPS (TTM, diluted)
$-2.02

Growth

Revenue growth
−69.8%
Change in growth rate
−56.8 pts
Share count change
−2.2%

Cash

Free cash flow (TTM)
-$121M
FCF margin
-324.7%
Stock pay % of revenue
89.6%

Earnings

Last results
August 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Deal
  3. Announcement
  4. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Zymeworks Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Zymeworks Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.02 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$7.1 ~$2.0–$12 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$15 ~$14–$28 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$16 ~$17–$63 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$11 ~$7.1–$16 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Zymeworks Inc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025Now
Share price$47.26$16.39$7.86$10.39$14.64$26.33$28.99
Market value$2.4bn$854m$513m$715m$1.1bn$2.0bn$2.2bn
+ Net debt (− = net cash)−$242m−$202m−$401m−$158m−$66m−$41m−$179m
Enterprise value$2.1bn$653m$112m$558m$1.0bn$1.9bn$2.0bn
Multiples
Price / sales 61.1x32.0x1.2x9.4x14.6x18.7x57.9x
Price / earnings ——4.1x————
Price / free cash flow ——3.8x————
EV / EBITDA ——0.8x————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 9, 2026, after the close. Analysts expect revenue of $221m and EPS of $2.19 (range −$0.57 to $3.29) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.16 +208% $296m +180%
Next $1.21 +4% $377m +27%

Next year's EPS estimate has moved +46.7% in 90 days, across 9 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −11.8% on 90 days ago. In the last 30 days, 1 analyst raised Zymeworks Inc.'s forecast and 2 cut it.

Consensus EPS forecast Zymeworks Inc., last 90 days
$0.80 $1.00 $1.20 $1.40 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.32 Current fiscal year, 60 days ago: $1.18 Current fiscal year, 30 days ago: $1.10 Current fiscal year, 7 days ago: $0.96 Current fiscal year, Now: $1.16 $1.16 Next fiscal year, 90 days ago: $0.83 Next fiscal year, 60 days ago: $1.17 Next fiscal year, 30 days ago: $0.92 Next fiscal year, 7 days ago: $0.90 Next fiscal year, Now: $1.21 $1.21

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.32$0.83
60 days ago $1.18$1.17
30 days ago $1.10$0.92
7 days ago $0.96$0.90
Now $1.16$1.21

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.59 −$0.62 −4.8%
Mar 2026 −$0.10 −$0.59 −484.3%
Dec 2025 −$0.32 −$0.55 −70.6%
Sept 2025 −$0.32 −$0.26 +17.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

14 analysts, Oct 2026
Buy14100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202621214
  2. Sep 202621214
  3. Aug 202621012
  4. Jul 202621012

Counts of recommendations published by analysts covering Zymeworks Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
11.8%
of tradable shares
Days to cover
5.07
at average volume
Short interest, 1 month
+13%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.3%
of shares
Employees
231
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +51.9%

$19.09 on October 31, 2025 to $28.99

ThenNowEffect
Revenue (last 12 months) $123m $37m −69.8%
P/S multiple 11.8x 57.9x +391.5%
Share count 76m 74m +2.3%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +290.2%

$7.43 on November 3, 2023 to $28.99

ThenNowEffect
Revenue (last 12 months) $448m $37m −91.7%
P/S multiple 1.1x 57.9x +5123.3%
Share count 67m 74m −9.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ZYME−65%−52%+32%+41%+80%+10%
Industry peers (median)−35%−57%−18%−29%−5%−27%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ZYME33%50%50%75%58%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ZYME−73%−73%−40%−37%−37%−24%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since April 28, 2017: 92% from January 8, 2021 to September 7, 2022. Getting back needed a 1122% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$16.46 – $31.05
From 52-week high
−6.6%
vs 50-day average
+6.2%
vs 200-day average
+14.8%
Volatility (1 year)
54%
Beta vs S&P 500
0.81

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±4.9%
After a week
8 up, 4 down
typical move ±6.9%
After a month
7 up, 5 down
typical move ±12.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +0.2% +0.5% +9.6% +24.2%
May 7, 2026 −13.5% +0.5% −13.2% −13.3%
March 2, 2026 +5.0% −0.8% +4.1% +7.5%
January 12, 2026 +3.2% 0.0% +2.2% −1.5%
November 6, 2025 −8.8% −1.0% +2.5% +46.3%
August 7, 2025 −3.1% +0.7% +15.2% +22.4%
May 8, 2025 −0.3% +0.6% +1.7% +9.8%
March 5, 2025 −4.9% −0.7% −3.7% −7.8%
January 8, 2025 −7.6% −1.4% −2.2% −0.8%
October 31, 2024 −4.3% −1.5% +20.9% +4.5%
August 1, 2024 −2.5% −3.3% −2.5% +12.1%
May 2, 2024 +5.0% +2.2% +5.4% −3.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Zymeworks Inc. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Zymeworks Inc.
$0 $200M $400M $600M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $461.6M Revenue (TTM), FY23 Q4: $76M Revenue (TTM), FY24 Q1: $50.5M Revenue (TTM), FY24 Q2: $62.7M Revenue (TTM), FY24 Q3: $62.2M Revenue (TTM), FY24 Q4: $76.3M Revenue (TTM), FY25 Q1: $93.4M Revenue (TTM), FY25 Q2: $122.9M Revenue (TTM), FY25 Q3: $134.5M Revenue (TTM), FY25 Q4: $106M Revenue (TTM), FY26 Q1: $81.3M Revenue (TTM), FY26 Q2: $37.1M $37.1M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $461.6M
FY23 Q4 $76M
FY24 Q1 $50.5M
FY24 Q2 $62.7M
FY24 Q3 $62.2M
FY24 Q4 $76.3M
FY25 Q1 $93.4M
FY25 Q2 $122.9M
FY25 Q3 $134.5M
FY25 Q4 $106M
FY26 Q1 $81.3M
FY26 Q2 $37.1M
Revenue growth, TTM YoY Zymeworks Inc.
-500% 0% 500% 1000% 1500% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 1445.9% Revenue growth, TTM YoY, FY23 Q4: -81.6% Revenue growth, TTM YoY, FY24 Q1: -88.7% Revenue growth, TTM YoY, FY24 Q2: -86.0% Revenue growth, TTM YoY, FY24 Q3: -86.5% Revenue growth, TTM YoY, FY24 Q4: 0.4% Revenue growth, TTM YoY, FY25 Q1: 85.1% Revenue growth, TTM YoY, FY25 Q2: 95.9% Revenue growth, TTM YoY, FY25 Q3: 116.2% Revenue growth, TTM YoY, FY25 Q4: 38.9% Revenue growth, TTM YoY, FY26 Q1: -13.0% Revenue growth, TTM YoY, FY26 Q2: -69.8% -69.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 1445.9%
FY23 Q4 -81.6%
FY24 Q1 -88.7%
FY24 Q2 -86.0%
FY24 Q3 -86.5%
FY24 Q4 0.4%
FY25 Q1 85.1%
FY25 Q2 95.9%
FY25 Q3 116.2%
FY25 Q4 38.9%
FY26 Q1 -13.0%
FY26 Q2 -69.8%
Operating margin (TTM) Zymeworks Inc.
-600% -400% -200% 0% 200% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 44.4% Operating margin (TTM), FY23 Q4: -181.6% Operating margin (TTM), FY24 Q1: -294.4% Operating margin (TTM), FY24 Q2: -219.0% Operating margin (TTM), FY24 Q3: -222.4% Operating margin (TTM), FY24 Q4: -179.7% Operating margin (TTM), FY25 Q1: -133.8% Operating margin (TTM), FY25 Q2: -67.3% Operating margin (TTM), FY25 Q3: -52.5% Operating margin (TTM), FY25 Q4: -87.3% Operating margin (TTM), FY26 Q1: -140.4% Operating margin (TTM), FY26 Q2: -419.0% -419.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 44.4%
FY23 Q4 -181.6%
FY24 Q1 -294.4%
FY24 Q2 -219.0%
FY24 Q3 -222.4%
FY24 Q4 -179.7%
FY25 Q1 -133.8%
FY25 Q2 -67.3%
FY25 Q3 -52.5%
FY25 Q4 -87.3%
FY26 Q1 -140.4%
FY26 Q2 -419.0%
FCF margin (TTM) Zymeworks Inc.
-400% -300% -200% -100% 0% 100% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 41.7% FCF margin (TTM), FY23 Q4: -158.9% FCF margin (TTM), FY24 Q1: -148.8% FCF margin (TTM), FY24 Q2: -149.1% FCF margin (TTM), FY24 Q3: -91.1% FCF margin (TTM), FY24 Q4: -146.8% FCF margin (TTM), FY25 Q1: -83.1% FCF margin (TTM), FY25 Q2: -32.9% FCF margin (TTM), FY25 Q3: -48.7% FCF margin (TTM), FY25 Q4: -32.6% FCF margin (TTM), FY26 Q1: -94.8% FCF margin (TTM), FY26 Q2: -324.7% -324.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 41.7%
FY23 Q4 -158.9%
FY24 Q1 -148.8%
FY24 Q2 -149.1%
FY24 Q3 -91.1%
FY24 Q4 -146.8%
FY25 Q1 -83.1%
FY25 Q2 -32.9%
FY25 Q3 -48.7%
FY25 Q4 -32.6%
FY26 Q1 -94.8%
FY26 Q2 -324.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 39 27 412 76 76 106 37
EBITDA −184 −212 137 −131 −133 −89 −152
Operating income −187 −216 131 −138 −137 −93 −156
Net income −181 −212 124 −119 −123 −81 −150
Diluted EPS −$3.58 −$4.61 $1.90 −$1.72 −$1.62 −$1.08 −$2.02
Growth (year on year)
Revenue — −31.5% +>999% −81.6% +0.4% +38.9% −69.8%
EBITDA — — — −195.5% — — —
Operating income — — — −205.8% — — —
Net income — — — −195.4% — — —
Diluted EPS — — — −190.5% — — —
Margins
EBITDA margin −472.7% −794.2% 33.2% −171.8% −174.2% −83.9% −409.0%
Operating margin −481.3% −808.2% 31.6% −181.6% −179.7% −87.3% −419.0%
Net margin −463.5% −794.0% 30.1% −156.1% −160.8% −76.6% −404.0%
Free-cash-flow margin −399.8% −767.8% 33.0% −158.9% −146.8% −32.6% −324.7%
Cash flow
Cash from operations −151 −192 144 −118 −110 −33 −119
Capital spending 4 12 8 2 2 2 1
Free cash flow −156 −205 136 −121 −112 −35 −121
Stock-based pay 29 11 4 8 18 28 33
Free cash flow after stock pay −185 −216 132 −129 −130 −63 −154
Balance sheet
Cash 242 202 401 158 66 41 179
Total debt 0 0 0 0 0 0 0
Net debt (negative = net cash) −242 −202 −401 −158 −66 −41 −179
Diluted shares 50m 52m 65m 69m 76m 75m 74m
Returned to shareholders
Buybacks — — 0 0 30 42 170
Total returned — — 0 0 30 42 170

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $397m
Short-term assets $298mLonger-term assets $99m
What it owes, and who funded it · $397m
Short-term liabilities $47mLonger-term liabilities $269mShareholders' equity $80m
  • Short-term assets cover short-term liabilities $298m of assets due within a year against $47m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $298m short-term assets against $269m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Zymeworks Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$170M
Returned to shareholders
-141%
of free cash flow
Buybacks, last 3 fiscal years
$71.7M
Diluted share count
−2.2%
year over year
Total shareholder yield
8.2%
dividends 0.0% + buybacks 8.2% of market value
R&D spending
346.7%
of revenue
Days sales outstanding
58 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated ZYME NBTX FHTX CUE CCCC BHST Median
Revenue, last 12 months $37m $37m $37m $38m $35m $35m $56m
Revenue growth, last 12 months −69.8% 678.4% 52.0% 354.4% 2.3% 37.0% 12.6%
Revenue growth, 3-year average −56.4% — 19.1% 176.2% 29.8% — 13.7%
Revenue growth, latest quarter −90.6% — 112.7% 166.7% 2.8% — 10.2%
Operating margin −419.0% −33.2% −198.0% −262.0% −319.0% −16.2% −189.4%
Operating margin, 3-year average −235.1% — −284.9% −439.8% −361.6% — −363.5%
Net margin −404.0% −73.5% −175.8% −435.8% −289.4% −32.3% −169.8%
Cash from operations / revenue −321.4% −102.5% −229.3% −132.9% −242.2% −20.9% −168.0%
Free-cash-flow margin −324.7% −104.2% −229.4% −133.2% −243.7% −27.8% −162.4%
Free-cash-flow margin, 3-year average −168.9% — −306.5% −313.4% −255.9% — −310.0%
Stock pay / revenue 89.6% 10.9% 27.0% 69.1% 40.8% 2.4% 20.0%
Change in share count −2.2% 1.2% 5.9% 74.2% 10.4% — 8.2%

Median of all 184 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth -69.8% 12.6% 153 of 172
Change in growth rate Growth -56.8pp -0.1pp 147 of 172
Operating margin Profitability -419.0% -189.4% 117 of 175
Net margin Profitability -404.0% -157.3% 119 of 180
Free-cash-flow margin Cash generation -324.7% -145.4% 116 of 176
Stock pay as % of revenue Cash generation 89.6% 19.2% 133 of 179
Change in share count Balance sheet -2.2% 7.9% 14 of 156
Days sales outstanding Balance sheet 58 days 75 days 39 of 100

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$1.8B
Institutions reporting
203
Shares held vs prior quarter
▼ 1.0%
Positions opened / closed
23 / 28

Top buyers and sellers, Q2 2026: 83 institutions bought and 101 sold ; the biggest buyer was Assenagon Asset Management S.A (+1.8M shares) and the biggest seller Mpm Bioimpact LLC (−565K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Ecor1 Capital, LLC $600M 23.0M 33.0% 0.0%
Rubric Capital Management LP $183M 7.0M 10.1% 0.0%
Blackrock, Inc. $111M 4.3M 6.1% ▼ 6.7%
Perceptive Advisors LLC $109M 4.2M 6.0% ▲ 19.2%
Bvf Inc $95.4M 3.6M 5.2% ▼ 2.3%
Assenagon Asset Management S.A. $65.5M 2.5M 3.6% ▲ 244.0%
Morgan Stanley $58.3M 2.2M 3.2% ▼ 10.1%
BNP Paribas Asset Management Holding S.A. $46.6M 1.8M 2.6% ▼ 6.7%
Vanguard Capital Management LLC $40.8M 1.6M 2.2% ▼ 8.6%
Nextech Invest Ltd. $29.1M 1.1M 1.6% 0.0%
State Street Corp $28.4M 1.1M 1.6% ▲ 7.6%
Dimensional Fund Advisors LP $26M 995K 1.4% ▼ 12.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Zymeworks Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $5M 11 trades by 5 insiders · 0% under pre-set plans
Net ▼ $5M net selling
Insider Date Trade Shares Price Value
Schayowitz Adam EVP, Head of R&D October 9, 2026 Sell 13,832 $25.85 $357,557
Galbraith Kenneth Chair & CEO January 12, 2026 Sell 30,424 $22.67 $689,712
Moore Paul Andrew Chief Scientific Officer January 12, 2026 Sell 9,560 $22.67 $216,725
Smith Jeffrey T L EVP & Chief Medical Officer January 12, 2026 Sell 9,310 $22.67 $211,058
Hollywood Mark EVP & Chief Operating Officer January 12, 2026 Sell 6,120 $22.67 $138,740
Moore Paul Andrew Chief Scientific Officer January 5, 2026 Sell 9,289 $25.10 $233,154
Moore Paul Andrew Chief Scientific Officer January 5, 2026 Sell 10,821 $25.10 $271,607
Galbraith Kenneth Chair & CEO January 5, 2026 Sell 22,657 $25.10 $568,691
Galbraith Kenneth Chair & CEO January 5, 2026 Sell 31,686 $25.10 $795,319
Smith Jeffrey T L EVP & Chief Medical Officer January 5, 2026 Sell 10,538 $25.10 $264,504
Galbraith Kenneth Chair & CEO December 22, 2025 Sell 47,528 $27.02 $1.3M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • August 6, 2026
  • May 7, 2026
  • March 2, 2026
  • January 12, 2026
  • November 6, 2025
  • August 7, 2025

Recent SEC filings

Data status

When each part of this page on Zymeworks Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Zymeworks Inc. in brief

What does Zymeworks Inc. do?
Zymeworks Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Zymeworks Inc.'s stock ticker?
Zymeworks Inc. trades under the ticker ZYME on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Zymeworks Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Zymeworks Inc. reported revenue of $37.1M, 69.8% lower than a year earlier, according to its SEC filings.
What is Zymeworks Inc.'s free cash flow?
Zymeworks Inc.'s free-cash-flow margin is -324.7% of revenue over the trailing twelve months, ranking 116 of the 176 biotechnology companies we cover.
Who are Zymeworks Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Ecor1 Capital, LLC, Rubric Capital Management LP and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Zymeworks Inc. buying back stock, and does it pay a dividend?
Zymeworks Inc. spent $170M on share repurchases over the trailing twelve months, and its diluted share count fell 2.2% over the year.
What is Zymeworks Inc.'s market cap?
On November 2, 2026, Zymeworks Inc.'s market capitalisation was about $2.2B and net debt of -$179M. Market figures come from third-party market data and may be delayed.
Who are Zymeworks Inc.'s competitors?
In our Biotechnology peer group, the companies closest to Zymeworks Inc. are Nanobiotix S.a., Foghorn Therapeutics Inc., Cue Biopharma, Inc., C4 Therapeutics, Inc. and Bioharvest Sciences Inc. The side-by-side comparison below sets their revenue, margins and growth against Zymeworks Inc.'s.
Are insiders buying or selling Zymeworks Inc. stock?
Over the last 12 months, Zymeworks Inc.'s directors and officers reported 0 open-market purchases and 11 sales on Form 4. The insider trading page charts every trade.
When is Zymeworks Inc.'s next earnings date?
Around November 9, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Zymeworks Inc. announces its own schedule.