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Zymeworks Inc. (ZYME) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Zymeworks Inc. stock $16.60, price $31.46, that is 47.2% below the price, quality 54 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Healthcare US

ZI Zymeworks Inc. logo Thin data Nov 10, 2026

Zymeworks Inc.

ZYME · US
Solid, but very expensive

Our calculation puts a fair price 47% below what the stock costs today.

Low debt
Quality 54/100
Insiders sold $357,557 (6M)
Fair value $16.60 · Strongly overvalued
Weak Growth (revenue 3y −36.4 %/yr in USD)
Loss-making · -76.6% net margin (FY2025)
Negative free cash flow
Trails peers (2/8)
Narrow moat 15/100 · thin data
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$36.10 $4.65 Fair Value $16.60 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range $4.65 – $36.10 · fair‑value band $12.45 – $20.75 · the $31.46 price screens above the $16.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Zymeworks Inc., a biotechnology company, develops biotherapeutics for the treatment of cancer, inflammation, and autoimmune diseases.

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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.

Stock analysis

Zymeworks Inc. (ZYME) currently trades at $31.46, while our estimate is $16.60, 47% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $12.45 (bear) to $20.75 (bull), the price of $31.46 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 54/100 (solid quality), in the Healthcare sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Zymeworks Inc. Common Stock reported revenue of $106M in FY2025 versus $26.7M in FY2021, a compound +41.2%/yr. Reported net income was −$81.1M in FY2025.

Key figures

Market cap $2.3B Mid · P/S ratio 58.3 · EPS (TTM) $−2.02 · Net margin −76.6% · Return on equity −72.3% · Return on assets (EBIT) −23.1% (5-year average) · Operating margin −919% · Revenue (TTM) $37.1M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 15 out of 100 (low confidence).

What moves the price

The share trades at its 52-week high and 74% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at −47%, ZYME screens richer than that median.

Fair Value

Bear $12.45 Fair Value $16.60 Bull $20.75
Price $31.46 · Downside -47.2%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 54/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 14
How much profit the company makes from its sales and capital
Quality Growth 86
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 85
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 28
How calm the share price moves, does not count
Price momentum 87
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 100
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, one officer or director sold shares worth $357,557 and none bought.

  • SaleAdam SchayowitzEVP, Head of R&D13,832 shares at $25.85$357,557Oct 9, 2026
  • SaleMark HollywoodEVP & Chief Operating Officer6,120 shares at $22.67$138,740Jan 12, 2026
  • SaleKenneth GalbraithChair & CEO, Director3× since Dec 22, 2025: 132,295 shares, avg. $25.23$3.3MJan 12, 2026
  • SalePaul Andrew MooreChief Scientific Officer2× since Jan 5, 2026: 29,670 shares, avg. $24.32$721,486Jan 12, 2026
  • SaleJeffrey T L SmithEVP & Chief Medical Officer2× since Jan 5, 2026: 19,848 shares, avg. $23.96$475,562Jan 12, 2026

Plus 2 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 10, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+38.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−36.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.2%
Start year 2020 (pandemic). Over 10 years: +27.1% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+45.8%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−481.3% (2020) → −87.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

ZYME screens overvalued: fair value 47% below the price. Compare with Vertex Pharmaceuticals Incorporated →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 849 stocks

Beats the industry median on 1/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 54 · Top 25%
Fair Value upside −47.2% · Bottom 25%
Profitability
Return on assets −23.4% · Below median
Net margin (12 months) −76.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −90.6% · Bottom 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 8.55× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months) 61.85× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)100 · sector 96
DIVIDEND (yield)0 · sector 20

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Regeneron Pharmaceuticals, Inc REGN $916.06 $1,275 +39% vs ZYME
Samsung Biologics Co 207940 1,468,000 KRW 1,661,000 KRW +13% vs ZYME
Vertex Pharmaceuticals Incorporated VRTX $547.89 $601.80 +10% vs ZYME
Genmab A/S GMAB kr 3,581 kr 3,880 +8% vs ZYME
argenx SE ARGX $971.55 $908.40 −7% vs ZYME
CSL Limited CSL A$201.68 A$181.40 −10% vs ZYME
Moderna, Inc MRNA $250.83 $158.70 −37% vs ZYME
BeOne Medicines AG 6160 HK$252.20 HK$152.80 −39% vs ZYME
Celltrion, Inc 068270 203,000 KRW 74,945 KRW −63% vs ZYME
Royalty Pharma plc RPRX $69.45 $19.01 −73% vs ZYME

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Cite: Fair Value Calculator (2026). "Zymeworks Inc. Common Stock Fair Value". https://www.fairvalue-calculator.com/stock/ZYME

Frequently asked questions

Is Zymeworks Inc. (ZYME) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is $16.60 versus a price of $31.46, about 47% lower (overvalued).
What is the fair value of ZYME?
Our estimate for Zymeworks Inc. is $16.60 (as of Nov 10, 2026), built from audited fundamentals. The current price: $31.46.
What is the quality score of ZYME?
Zymeworks Inc. has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Zymeworks Inc. (ZYME)?
Our calculated price target is the estimate of $16.60 (as of Nov 10, 2026). Cautious scenario $12.45, optimistic scenario $20.75. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Zymeworks Inc. Common Stock stock forecast for 2026?
Our estimate puts fair value at $16.60, about 47% lower versus a price of $31.46 (overvalued). Cautious scenario $12.45, optimistic scenario $20.75. The calculation is refreshed regularly with new filings.
What is the revenue of Zymeworks Inc. (ZYME)?
Zymeworks Inc. reported trailing-twelve-month revenue of about $37.1M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Zymeworks Inc. (ZYME)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zymeworks Inc. it is $16.60 per share (as of Nov 10, 2026), against a price of $31.46.
Is Zymeworks Inc. Common Stock stock overvalued or undervalued in 2026?
As of Nov 10, 2026, ZYME trades above its calculated fair value: price $31.46, fair value $16.60, a gap of about −47% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ZYME?
No. The price is what the market pays today ($31.46); the fair value is what the company's own numbers justify ($16.60). For Zymeworks Inc. the two are $14.86 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zymeworks Inc. Common Stock worth?
The market values Zymeworks Inc. at about $2.3B (market capitalisation, as of Nov 10, 2026). Per share that is $31.46; our models calculate a fair value of $16.60 per share.
What do the bullish and bearish scenarios say about ZYME?
Our models span a range for Zymeworks Inc.: cautious scenario $12.45, base $16.60, optimistic $20.75 per share (as of Nov 10, 2026, price $31.46). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Zymeworks Inc. (ZYME)?
Balance-sheet figures for Zymeworks Inc. (as of Nov 10, 2026): return on equity −72.3%. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is ZYME from its 52-week high?
Zymeworks Inc. trades at $31.46, at its 52-week high of $31.46 and 74% above the low of $18.05 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of $16.60 is for.
Which stocks are comparable to Zymeworks Inc. Common Stock?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Moderna, Inc, Regeneron Pharmaceuticals, Inc, CSL Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Zymeworks Inc. Common Stock stock attractive at the current price?
The data as of Nov 10, 2026: price $31.46, calculated fair value $16.60 (−47%), Quality Score 54/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Zymeworks Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Zymeworks Inc. (ZYME)?
The closing price on Nov 10, 2026 was $31.46. Our estimate is $16.60, about 47% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zymeworks Inc. Common Stock right now?
The price sits above even our optimistic bull case ($20.75). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Zymeworks Inc.

How large is the market capitalisation of Zymeworks Inc. (ZYME)?
The market capitalisation of Zymeworks Inc. is $2.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Zymeworks Inc. (ZYME)?
The price-to-sales ratio of Zymeworks Inc. is 58.3 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Zymeworks Inc. (ZYME)?
Earnings per share at Zymeworks Inc. are $−2.02. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Zymeworks Inc. (ZYME)?
The net margin of Zymeworks Inc. is −76.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Zymeworks Inc. (ZYME)?
The return on equity (ROE) of Zymeworks Inc. is −72.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Zymeworks Inc. (ZYME)?
On an EBIT basis the return on assets of Zymeworks Inc. is −23.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Zymeworks Inc. (ZYME)?
The operating margin of Zymeworks Inc. is −919% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zymeworks Inc. (ZYME)?
Revenue at Zymeworks Inc. is growing −90.6% versus a year earlier (3y avg −36.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Zymeworks Inc. (ZYME) generate?
The free cash flow of Zymeworks Inc. is −$34.5M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Zymeworks Inc. (ZYME) hold?
Zymeworks Inc. holds more cash than debt, $22.9M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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