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IMMUNOCORE HOLDINGS PLC-ADR (IMCR) Stock Fundamental Analysis

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

35.17  -0.1 (-0.28%)

After market: 35.17 0 (0%)

Fundamental Rating

4

Overall IMCR gets a fundamental rating of 4 out of 10. We evaluated IMCR against 556 industry peers in the Biotechnology industry. IMCR scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. 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

IMCR had negative earnings in the past year.
In the past year IMCR had a positive cash flow from operations.
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

IMCR has a better Return On Assets (-2.10%) than 89.21% of its industry peers.
IMCR's Return On Equity of -5.71% is amongst the best of the industry. IMCR outperforms 89.75% of its industry peers.
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

IMCR's Gross Margin of 99.01% is amongst the best of the industry. IMCR outperforms 98.56% of its industry peers.
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.
Compared to 5 years ago, IMCR has more shares outstanding
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 1.66, we must say that IMCR is in the distress zone and has some risk of bankruptcy.
IMCR has a Altman-Z score of 1.66. This is in the better half of the industry: IMCR outperforms 68.53% 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.
Looking at the Debt to FCF ratio, with a value of 15.03, IMCR belongs to the top of the industry, outperforming 91.73% of the companies in the same industry.
IMCR has a Debt/Equity ratio of 1.03. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of IMCR (1.03) is worse than 77.16% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.03
Debt/FCF 15.03
Altman-Z 1.66
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.
Looking at the Current ratio, with a value of 6.36, IMCR is in the better half of the industry, outperforming 63.13% of the companies in the same industry.
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.
With a decent Quick ratio value of 6.31, IMCR is doing good in the industry, outperforming 63.49% of the companies in the same industry.
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

The Earnings Per Share has grown by an impressive 64.24% over the past year.
IMCR shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -22.97%.
Measured over the past years, IMCR shows a very strong growth in Revenue. The Revenue has been growing by 64.57% on average per year.
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

Based on estimates for the next years, IMCR will show a very strong growth in Earnings Per Share. The EPS will grow by 36.23% on average per year.
Based on estimates for the next years, IMCR will show a very strong growth in Revenue. The Revenue will grow by 21.37% on average per year.
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

IMCR reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year IMCR is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
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 50 -50

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, IMCR is valued cheaper than 92.09% of the companies in the same industry.
Industry RankSector Rank
P/FCF 67.84
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 (7/25/2025, 8:00:01 PM)

After market: 35.17 0 (0%)

35.17

-0.1 (-0.28%)

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 Change-0.05%
Ins Owners0.03%
Ins Owner Change0%
Market Cap1.77B
Analysts81.67
Price Target60.98 (73.39%)
Short Float %18.71%
Short Ratio20.05
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)-3.36%
PT rev (3m)-8.29%
EPS NQ rev (1m)0%
EPS NQ rev (3m)39.78%
EPS NY rev (1m)0%
EPS NY rev (3m)50.45%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)4.31%
Revenue NY rev (1m)0%
Revenue NY rev (3m)5.23%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 5.3
P/FCF 67.84
P/OCF 56.84
P/B 4.67
P/tB 4.67
EV/EBITDA N/A
EPS(TTM)-0.43
EYN/A
EPS(NY)-1.17
Fwd EYN/A
FCF(TTM)0.52
FCFY1.47%
OCF(TTM)0.62
OCFY1.76%
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 1.66
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 5Y36.73%
FCF growth 1Y183.07%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y126.39%
OCF growth 3YN/A
OCF growth 5YN/A