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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#3072
Positioning
Market Dominance
Manufacturing
Pharmaceutical Products
$257M
Yang Lu
We are a global clinical-stage biotechnology company focused on the discovery and development of innovative cancer therapies for patients across the spectrum of tumor types. Adlai Nortye Ltd. was incorporated in the Cayman Islands on May 9, 2018 as an exempted company with limited liability. The address of our registered office in Cayman Islands and our principal executive office is at c/o PO Box 309, Ugland House, Grand Cayman KY1-1104, Cayman Islands. Our telephone number is +1 848-230-7430. The United States and China are two important markets and locations for our operations. In addition to our principal executive office in the Cayman Islands, we also have two regional headquarters at (i) New Jersey Biotechnology Development Center, 685 US Hwy 1, 2nd floor, North Brunswick Township, NJ 08902, the United States and (ii) Building 6 & 8, 1008 Xiangwang Street, Yuhang District, Hangzhou, Zhejiang, People’s Republic of China. Our agent for service of process in the United States is Cogency Global Inc., with the address at 122 East 42nd Street, 18th Floor, New York, NY.
Headcount
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| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UL UNILEVER PLC | 78 | 96 | 98 | 59 | - | - | 28.5% | 8.0% | 100.0% | 100.0% | 10.4% | -4.6% | 3.3% | 0.0x | $141.8B | VS | |
$ASML ASML HOLDING NV | 77 | 89 | 86 | 83 | - | - | 46.1% | 16.6% | 51.3% | 31.9% | 26.8% | -4.0% | 1.0% | 25.0x | $272.1B | VS | |
$ESLT ELBIT SYSTEMS LTD | 76 | 81 | 87 | 85 | - | - | 10.3% | 3.1% | 24.1% | 7.2% | 4.7% | 14.3% | 0.8% | 25.0x | $11.4B | VS | |
$MT ArcelorMittal | 75 | 71 | 98 | 85 | - | - | 2.2% | 1.5% | 9.3% | 5.3% | 2.2% | -8.5% | 2.2% | 16.0x | $18.9B | VS | |
$AMAT APPLIED MATERIALS INC /DE | 75 | 85 | 87 | 84 | 20.9x | 13.6x | 35.5% | 19.8% | 48.7% | 29.2% | 24.7% | 4.4% | 0.8% | 32.0x | $181.9B | VS | |
$SIMO Silicon Motion Technology CORP | 75 | 84 | 86 | 85 | - | - | 11.8% | 8.8% | 45.9% | 11.3% | 11.1% | 25.7% | 3.7% | 0.0x | $1.8B | VS | |
$CODA Coda Octopus Group, Inc. | 74 | 83 | 90 | 79 | 16.3x | 11.9x | 7.6% | 7.0% | 66.5% | 17.1% | 15.6% | 39.0% | 0.0% | 0.0x | $115M | VS | |
$GSK GSK plc | 74 | 84 | 90 | 70 | - | - | 22.6% | 4.9% | 71.2% | 12.8% | 9.4% | 1.7% | 5.9% | 124.0x | $72.1B | VS | |
$EFXT Enerflex Ltd. | 74 | 80 | 91 | 83 | - | - | 3.0% | 1.1% | 20.9% | 7.3% | 1.3% | 3.0% | 0.9% | 67.0x | $1.2B | VS | |
$BUD Anheuser-Busch InBev SA/NV | 74 | 84 | 97 | 63 | - | - | 8.2% | 3.5% | 55.3% | 25.9% | 12.4% | 0.7% | 1.7% | 0.0x | $87.0B | VS | |
$ANL Adlai Nortye Ltd. | 43 | 19 | 18 | 76 | - | - | -814.1% | -291.1% | - | - | - | - | 0.0% | 107.0x | $257M | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -2.5% | -0.1% | 42.5% | 1.3% | -0.2% | 5.9% | 0.0% | 0.2x | - | REF |
Adlai Nortye Ltd. (ANL) receives a "Reduce" rating with a composite score of 43.3/100. It ranks #3072 out of 7,333 stocks in our coverage universe and carries a 2-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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Equity capital efficiency
Asset base utilization
Financial leverage load
Direct cash return
Yang Lu
Chief Executive Officer
19
29
32
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for ANL
HQ Base
Pending Verification
Outperforming peers — winners tend to keep winning over 3-12 months
Expensive relative to fundamentals — limited margin of safety
Weak fundamentals — higher risk of value trap
High volatility — wider range of outcomes increases timing risk
Aggressive spending — empire-building risk, dilutive growth
Mid-range overall rating
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Relative valuation derived from Manufacturing sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
No analyst ratings for ANL.
View All RatingsInsufficient data for Financial Analysis
| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 19 | 1 | +18ALPHA |
| MOMENTUM | 76 | 79 | -3NEUTRAL |
| VALUATION | 18 | 4 | +14ALPHA |
| INVESTMENT | 29 | 29 | 0NEUTRAL |
| STABILITY | 32 | 12 | +20ALPHA |
| SHORT INT | 50 | 49 | +1NEUTRAL |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROE proxy -814.1% (sector -2.5%)
GM N/A vs sector 43%, OM N/A vs sector 1%
Capital turnover N/A
Rev growth N/A, 2yr history
Interest coverage N/A
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
Adlai Nortye Ltd. receives a Reduce rating from our analysis, with a composite score of 43.3/100 and 2 out of 5 stars, ranking #3072 out of 7,333 stocks. ANL's factor profile shows weakness across multiple dimensions, suggesting the stock may underperform going forward. Existing holders may want to consider trimming positions or tightening stop-losses.
Adlai Nortye Ltd. registers a weak quality score of just 19/100, indicating significant profitability challenges. The company reports a return on equity of -814.1% (sector avg: -2.5%). Low quality scores are often associated with businesses in turnaround mode, early-stage growth, or structurally challenged industries.
ANL registers a value score of just 18/100, suggesting the stock trades at a significant premium to its fundamental metrics. Key valuation metrics include a P/B ratio of 14.36x. High-premium valuations like this require strong future execution to avoid multiple compression, and downside risk is elevated if growth disappoints.
Adlai Nortye Ltd.'s investment score of 29/100 suggests limited reinvestment activity. Key growth metrics include a return on assets of -291.1% (sector: -0.1%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
ANL shows strong momentum characteristics with a score of 76/100. The stock has been trending above key moving averages, indicating solid demand from institutional buyers. Revenue growth data is not currently available, while a beta of 0.61 reflects its sensitivity to broader market moves. This level of momentum typically signals sustained investor confidence and favorable near-term price action.
ANL's stability score of 32/100 signals elevated volatility and/or leverage concerns. Key stability metrics include a beta of 0.61 and a debt-to-equity ratio of 107.00x (sector avg: 0.2x). Investors should be prepared for wider-than-average price swings and consider position sizing accordingly to manage portfolio risk.
The short interest score of 50/100 for ANL suggests somewhat elevated bearish positioning by institutional traders. Specific risk factors include elevated leverage (D/E: 107.00x), micro-cap liquidity risk. With a $257M market cap (micro-cap), Adlai Nortye Ltd. may experience above-average volatility. Investors should consider whether the short thesis has merit or if it creates a potential short-squeeze opportunity.
Adlai Nortye Ltd. is a micro-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #3072 of 7,333 overall (58th percentile). Key comparisons include ROE of -814.1% trailing the -2.5% sector median. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While ANL currently exhibits a REDUCE profile, superior opportunities exist within the MANUFACTURING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
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Improvement in Value (18) would have the largest impact on the composite score.
ROE 32727% ABOVE SECTOR MEDIAN (FAVORABLE)
Debt/Equity 53400% ABOVE SECTOR MEDIAN
Div. Yield NaN% BELOW SECTOR MEDIAN
AUDIT DATA AS OF DEC 31, 2024 (Q3 FY2024)
We rate Adlai Nortye Ltd. (ANL) as a Reduce with a composite score of 43.3/100 at a current price of $10.12. The quantitative profile shows weakness across multiple dimensions, suggesting limited upside potential and elevated risk of underperformance relative to peers over the next 12 months.
The rating is primarily driven by strength in momentum (76th percentile) and stability (32th percentile), which together account for the majority of the composite score. Offsetting weakness in value (18th percentile) and quality (19th percentile) tempers our overall conviction. We assign a No Moat rating (23/100), High uncertainty, and Poor capital allocation.
Key items to watch: balance sheet deleveraging progress; valuation compression risk if growth disappoints. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
Adlai Nortye Ltd. holds a top-quartile position (#0 of 50) within the Manufacturing sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 43.3/100 places it at rank #3072 in our full 7,333-stock universe. At $257M in market capitalization, Adlai Nortye Ltd. is a small-cap player in the Manufacturing space, which limits certain scale advantages but may allow for more agile strategic execution.
Momentum indicators (76th percentile) are constructive regarding the near-term price trend. Revenue growth data is unavailable, limiting our ability to confirm whether momentum is fundamentally supported.
Margin data is not available for Adlai Nortye Ltd., which limits our assessment of the company's cost structure and operating efficiency. We rely on factor-based signals to infer business quality in the absence of detailed margin data.
At a current price of $10.12, Adlai Nortye Ltd. is trading at a premium to fundamental value. Our value factor score of 18/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. The premium valuation implies the market is pricing in significant future growth or quality improvements that are not yet fully reflected in current fundamentals.
The stock currently trades at P/B of 14.4x. We evaluate these multiples in the context of both absolute levels and sector-relative positioning to form our valuation view.
Positive momentum (76th percentile) indicates institutional accumulation and favorable technical dynamics that tend to persist in the intermediate term.
The Reduce rating (composite 43.3/100) reflects multi-factor weakness, and historically, stocks in this scoring range have underperformed the market by a meaningful margin.
Elevated leverage (107% D/E) amplifies downside risk and limits management's financial flexibility in adverse scenarios.
Below-average quality (19th percentile) raises durability concerns about the fundamental profile and increases the risk of negative earnings surprises.
We assign a High uncertainty rating to Adlai Nortye Ltd.. Key risk factors include significant leverage (107% debt-to-equity), below-average price stability (32th percentile), weak quality scores (19th percentile). The wide range of potential outcomes widens our fair value estimate and increases the possibility of permanent capital impairment. Investors considering this name should size positions accordingly and demand a meaningful margin of safety before initiating.
Specific risk factors that inform our assessment include: significant leverage (107% debt-to-equity); below-average price stability (32th percentile); weak quality scores (19th percentile); low beta of 0.61 — while defensive, this may indicate limited upside participation in bull markets. Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 32th percentile and quality factor at the 19th percentile provide a quantitative summary of the overall risk landscape.
We identify limited risk mitigants at this time, which contributes to our high uncertainty assessment. Investors should monitor for improvement in balance sheet metrics, margin stability, and business predictability that could warrant a downgrade in our risk assessment over time.
We rate Adlai Nortye Ltd.'s capital allocation as Poor. Key concerns include low returns on equity (-814.1%), weak asset returns (ROA -291.1%). Exemplary capital allocators generate ROE above 20% and maintain conservative leverage — Adlai Nortye Ltd. significantly underperforms these benchmarks, raising questions about management's ability to create shareholder value.
Investors should scrutinize management's reinvestment decisions and balance sheet trajectory before committing capital. Poor capital allocation often compounds over time: overlevered balance sheets limit strategic flexibility, while low returns on capital destroy shareholder value. We would need to see sustained improvement in profitability metrics and balance sheet discipline before considering an upgrade.
In summary, Adlai Nortye Ltd. receives a Reduce rating with a composite score of 43.3/100 (rank #3072 of 7,333). Our quantitative framework assigns a No Moat (23/100, trend: stable), High uncertainty, and Poor capital allocation. The average factor score across quality, value, momentum, stability, and investment is 35/100.
Our analysis does not support a constructive view on Adlai Nortye Ltd. at this time. The combination of limited competitive advantages, high uncertainty, and poor capital allocation suggests unfavorable risk-reward at current levels. We recommend investors avoid new positions and existing holders consider reducing exposure.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We do not assign Adlai Nortye Ltd. a meaningful economic moat, scoring 23/100 on our composite assessment. Current fundamentals do not demonstrate the kind of durable competitive advantages — such as superior returns on invested capital, margin superiority, or reinvestment efficiency — that would protect the company from competitive erosion over the long term. The highest-scoring pillar, margin superiority, reached only 10/20.
The strongest moat sources are margin superiority (10/20) and growth durability (5.2/20). GM N/A vs sector 43%, OM N/A vs sector 1%. Rev growth N/A, 2yr history. These pillars form the core of Adlai Nortye Ltd.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include reinvestment efficiency (0/20) and economic value creation (2.5/20). Capital turnover N/A. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect Adlai Nortye Ltd.'s moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers are not clearly identifiable from current fundamentals. This may reflect a company in transition, a cyclical downturn, or structural challenges in the business model. We assign a quality factor of 19/100 which further underscores our concern regarding earnings sustainability.
Return metrics include ROE of -814.1% and ROA of -291.1%. Relative to the Manufacturing sector, sector comparison data is limited, and ROE of -814.1% compares to a sector median of -2.5%.
The balance sheet reflects above-average leverage with D/E of 107%. The sector median D/E is 0%, putting Adlai Nortye Ltd. at higher leverage than the typical peer. Overall balance sheet health is adequate for the current business environment.
Above 50MA
37.18%
Net New Highs
+51081
H.C. Wainwright has upgraded Adlai Nortye Ltd. (NASDAQ:ANL) from Neutral to Buy, setting a price target of $16.00 based on the positive outlook for its clinical pipeline, particularly AN9025. The company recently secured significant financing and a licensing agreement for AN9025, and its next earnings report is due in 12 days. Despite a strong year-to-date return, InvestingPro data indicates high price volatility and that the company is not expected to be profitable this fiscal year.
Lucid Capital Markets has initiated coverage on Adlai Nortye Ltd. (NASDAQ: ANL) with a Buy rating and an $11.00 price target, projecting a significant upside based on the potential of its pan-RAS inhibitor, AN9025. The biotech firm also recently secured a $230 million licensing agreement with ASK Pharm for AN9025 in Greater China, further highlighting its strategic expansion and the asset's perceived value. Despite its promising pipeline, the company is "quickly burning through cash" and may need additional financing, as indicated by its financials.
Retail investors, holding a 47% stake in Adlai Nortye Ltd. (NASDAQ:ANL), were the primary beneficiaries of the company's US$65 million market cap increase last week. The top five shareholders together own 53% of the company, with Nortye International Limited, ESOP, being the largest at 29%. While institutional investors hold 14%, board members currently have no personal shareholdings.
Adlai Nortye (NASDAQ: ANL) has granted ASK Pharm exclusive rights to develop, manufacture, and commercialize its pan‑RAS (ON) inhibitor AN9025 in Greater China. The deal is valued at up to $230 million in total consideration, including over $20 million in upfront and near-term milestones, plus tiered royalties. This partnership aims to accelerate the development and delivery of AN9025, which targets RAS-mutated cancers, to patients in China.
Adlai Nortye Ltd. has entered into an exclusive licensing agreement with ASK Pharm for its experimental pan-RAS inhibitor AN9025. The deal is valued at up to $230 million, including upfront and near-term milestone payments exceeding $20 million, plus tiered royalties. ASK Pharm gains rights to develop, manufacture, and commercialize AN9025 in mainland China, Hong Kong, and Macao, while Adlai Nortye retains rights for the rest of the world.