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IMMUNOCORE HOLDINGS PLC-ADR (IMCR) Stock Fundamental Analysis

NASDAQ:IMCR - Nasdaq - US45258D1054 - ADR - Currency: USD

31.34  -0.36 (-1.14%)

After market: 31.5 +0.16 (+0.51%)

Fundamental Rating

4

Overall IMCR gets a fundamental rating of 4 out of 10. We evaluated IMCR against 557 industry peers in the Biotechnology industry. The financial health of IMCR is average, but there are quite some concerns on its profitability. IMCR is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year IMCR has reported negative net income.
IMCR had a positive operating cash flow in the past year.
In the past 5 years IMCR always reported negative net income.
In multiple years IMCR reported negative operating cash flow during the last 5 years.
IMCR Yearly Net Income VS EBIT VS OCF VS FCFIMCR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 0 -50M -100M

1.2 Ratios

Looking at the Return On Assets, with a value of -2.10%, IMCR belongs to the top of the industry, outperforming 89.23% of the companies in the same industry.
Looking at the Return On Equity, with a value of -5.71%, IMCR belongs to the top of the industry, outperforming 89.77% of the companies in the same industry.
Industry RankSector Rank
ROA -2.1%
ROE -5.71%
ROIC N/A
ROA(3y)-7.93%
ROA(5y)-20.99%
ROE(3y)-14.64%
ROE(5y)-50.92%
ROIC(3y)N/A
ROIC(5y)N/A
IMCR Yearly ROA, ROE, ROICIMCR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 -200 -400 -600

1.3 Margins

With an excellent Gross Margin value of 99.01%, IMCR belongs to the best of the industry, outperforming 98.56% of the companies in the same industry.
The Profit Margin and Operating Margin are not available for IMCR so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 99.01%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
IMCR Yearly Profit, Operating, Gross MarginsIMCR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 0 -100 -200 -300 -400

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5

2. Health

2.1 Basic Checks

IMCR does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, IMCR has about the same amount of shares outstanding.
IMCR has more shares outstanding than it did 5 years ago.
The debt/assets ratio for IMCR is higher compared to a year ago.
IMCR Yearly Shares OutstandingIMCR Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
IMCR Yearly Total Debt VS Total AssetsIMCR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

Based on the Altman-Z score of 1.48, we must say that IMCR is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of IMCR (1.48) is better than 68.94% of its industry peers.
The Debt to FCF ratio of IMCR is 15.03, which is on the high side as it means it would take IMCR, 15.03 years of fcf income to pay off all of its debts.
IMCR's Debt to FCF ratio of 15.03 is amongst the best of the industry. IMCR outperforms 91.74% of its industry peers.
IMCR has a Debt/Equity ratio of 1.03. This is a high value indicating a heavy dependency on external financing.
IMCR has a worse Debt to Equity ratio (1.03) than 77.92% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.03
Debt/FCF 15.03
Altman-Z 1.48
ROIC/WACCN/A
WACC8.59%
IMCR Yearly LT Debt VS Equity VS FCFIMCR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 0 100M -100M 200M 300M

2.3 Liquidity

A Current Ratio of 6.36 indicates that IMCR has no problem at all paying its short term obligations.
The Current ratio of IMCR (6.36) is better than 63.02% of its industry peers.
IMCR has a Quick Ratio of 6.31. This indicates that IMCR is financially healthy and has no problem in meeting its short term obligations.
IMCR has a better Quick ratio (6.31) than 63.38% of its industry peers.
Industry RankSector Rank
Current Ratio 6.36
Quick Ratio 6.31
IMCR Yearly Current Assets VS Current LiabilitesIMCR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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6

3. Growth

3.1 Past

IMCR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 64.24%, which is quite impressive.
Looking at the last year, IMCR shows a very negative growth in Revenue. The Revenue has decreased by -22.97% in the last year.
IMCR shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 64.57% yearly.
EPS 1Y (TTM)64.24%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%120.41%
Revenue 1Y (TTM)-22.97%
Revenue growth 3Y127.06%
Revenue growth 5Y64.57%
Sales Q2Q%33.16%

3.2 Future

The Earnings Per Share is expected to grow by 36.23% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 21.37% on average over the next years. This is a very strong growth
EPS Next Y19.6%
EPS Next 2Y-7.27%
EPS Next 3Y18.02%
EPS Next 5Y36.23%
Revenue Next Year22.37%
Revenue Next 2Y15.04%
Revenue Next 3Y15.53%
Revenue Next 5Y21.37%

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
IMCR Yearly Revenue VS EstimatesIMCR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 500M 1B
IMCR Yearly EPS VS EstimatesIMCR Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 0 5 -5

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for IMCR. In the last year negative earnings were reported.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for IMCR. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
IMCR Price Earnings VS Forward Price EarningsIMCR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 40 -40 60 -60

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, IMCR is valued cheaper than 92.28% of the companies in the same industry.
Industry RankSector Rank
P/FCF 60.45
EV/EBITDA N/A
IMCR Per share dataIMCR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

IMCR's earnings are expected to grow with 18.02% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-7.27%
EPS Next 3Y18.02%

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0

5. Dividend

5.1 Amount

No dividends for IMCR!.
Industry RankSector Rank
Dividend Yield N/A

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IMMUNOCORE HOLDINGS PLC-ADR

NASDAQ:IMCR (6/20/2025, 8:00:02 PM)

After market: 31.5 +0.16 (+0.51%)

31.34

-0.36 (-1.14%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)05-07 2025-05-07/bmo
Earnings (Next)08-06 2025-08-06/bmo
Inst Owners94.18%
Inst Owner Change3.89%
Ins Owners0.03%
Ins Owner Change0%
Market Cap1.57B
Analysts81.67
Price Target60.98 (94.58%)
Short Float %17.65%
Short Ratio19.17
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)22.87%
Min EPS beat(2)-79.43%
Max EPS beat(2)125.17%
EPS beat(4)3
Avg EPS beat(4)61.46%
Min EPS beat(4)-79.43%
Max EPS beat(4)147.46%
EPS beat(8)5
Avg EPS beat(8)37.27%
EPS beat(12)7
Avg EPS beat(12)-206106%
EPS beat(16)8
Avg EPS beat(16)-154578%
Revenue beat(2)1
Avg Revenue beat(2)0.21%
Min Revenue beat(2)-4.08%
Max Revenue beat(2)4.49%
Revenue beat(4)1
Avg Revenue beat(4)-0.72%
Min Revenue beat(4)-4.08%
Max Revenue beat(4)4.49%
Revenue beat(8)3
Avg Revenue beat(8)-0.39%
Revenue beat(12)7
Avg Revenue beat(12)11.76%
Revenue beat(16)11
Avg Revenue beat(16)25.3%
PT rev (1m)-8.02%
PT rev (3m)-7.26%
EPS NQ rev (1m)16.66%
EPS NQ rev (3m)39.78%
EPS NY rev (1m)19.51%
EPS NY rev (3m)46.52%
Revenue NQ rev (1m)0.85%
Revenue NQ rev (3m)4.31%
Revenue NY rev (1m)0.69%
Revenue NY rev (3m)6.6%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 4.72
P/FCF 60.45
P/OCF 50.65
P/B 4.16
P/tB 4.16
EV/EBITDA N/A
EPS(TTM)-0.43
EYN/A
EPS(NY)-1.17
Fwd EYN/A
FCF(TTM)0.52
FCFY1.65%
OCF(TTM)0.62
OCFY1.97%
SpS6.64
BVpS7.53
TBVpS7.53
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -2.1%
ROE -5.71%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 99.01%
FCFM 7.81%
ROA(3y)-7.93%
ROA(5y)-20.99%
ROE(3y)-14.64%
ROE(5y)-50.92%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.32
Health
Industry RankSector Rank
Debt/Equity 1.03
Debt/FCF 15.03
Debt/EBITDA N/A
Cap/Depr 124.56%
Cap/Sales 1.51%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 6.36
Quick Ratio 6.31
Altman-Z 1.48
F-Score5
WACC8.59%
ROIC/WACCN/A
Cap/Depr(3y)97.19%
Cap/Depr(5y)68.03%
Cap/Sales(3y)1.79%
Cap/Sales(5y)3.88%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)64.24%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%120.41%
EPS Next Y19.6%
EPS Next 2Y-7.27%
EPS Next 3Y18.02%
EPS Next 5Y36.23%
Revenue 1Y (TTM)-22.97%
Revenue growth 3Y127.06%
Revenue growth 5Y64.57%
Sales Q2Q%33.16%
Revenue Next Year22.37%
Revenue Next 2Y15.04%
Revenue Next 3Y15.53%
Revenue Next 5Y21.37%
EBIT growth 1Y53.71%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-12.09%
EBIT Next 3Y-16.17%
EBIT Next 5Y25.74%
FCF growth 1Y183.07%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y126.39%
OCF growth 3YN/A
OCF growth 5YN/A