Zymeworks Inc. (ZYME) intrinsic value & 10-year financials
Zymeworks Inc. (ZYME) has a Graham intrinsic value of $63.11 per share. At $25.03 on Oct 17, 2026, the stock trades 60% below that value. Over the last 7 fiscal years revenue grew 22.2% a year to $106.0M, with an average return on invested capital of -58.3%.
- Graham intrinsic value
- $63.11
- Share price (Oct 17, 2026)
- $25.03
- Price vs Graham value
- 60% below
- Market cap
- $1.9B
- Revenue (FY2025)
- $106.0M
- Revenue growth (7-yr CAGR)
- 22.2%
- ROIC (10-yr avg)
- -58.3%
- Free cash flow (FY2025)
- -$34.5M
ZYME 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $106.0M | -$81.1M | -$1.08 | -$34.5M | -87.3% | -34.9% |
| FY2024 | $76.3M | -$122.7M | -$1.62 | -$112.0M | -179.7% | -44.4% |
| FY2023 | $76.0M | -$118.7M | -$1.72 | -$120.8M | -181.6% | -61.5% |
| FY2022 | $412.5M | $124.3M | $1.90 | $136.0M | 31.6% | 123.0% |
| FY2021 | $26.7M | -$211.8M | -$4.61 | -$204.9M | -808.2% | -274.9% |
| FY2020 | $39.0M | -$180.6M | -$3.58 | -$155.7M | -481.3% | -57.2% |
| FY2019 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Zymeworks Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Zymeworks Inc. has historically struggled to out-earn its cost of capital, averaging just -12.9% ROIC.
Zymeworks Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Zymeworks Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $63.11 per share.