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Immunocore Holdings plc

IMCR

$34.01 ▼ -0.52 (-1.51%) at close

6 Visible periods

29 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

Immunocore Holdings plc faces fundamental challenges with weakness in Profit Margin (%) and Operating Margin (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $1.7B

Dividend Yield —

Revenue Growth 29.0% ↗

Op. Margin -11.3% ↗

ROIC -22.1% ↘

FCF / Share $-0.30 ↘

Trailing P/E —

Price / Book 4.5x

FCF Yield —

Debt / Equity —

info Valuation on last close. End-of-day price, Aug 7, 2026.

6-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$400.02M

↑ +29.0% —

Net Income Profit after all expenses

$-35.51M

↑ +30.5% —

Operating Margin Operating profit as % of sales

-11.3%

↑ +50.1% 14th

FCF / Share Free cash flow per share

$-0.30

↓ -171.6% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile

Health Breakdown

Profitability ↑

Returns ↑

Financial Health ↑

Cash Quality ↓

Dividend History

Dividend / share · sourced from SEC filings

$0.00 Latest / share

FY 2020

FY 2021

FY 2022

$0.00

FY 2023

$0.00

FY 2024

$0.00

FY 2025

Financial view

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📈 Is growth accelerating? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗
Revenue Growth YoY (%)	29.0% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+262%)	24.4% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+205%)	43.1% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+438%)	377.9% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+4624%)	—	—
EPS Growth YoY (%)	30.4% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	9.7% Fair ↓ Fair Declining Year-over-year change in earnings per share Optimal: > 10%	1.7% Caution Caution Year-over-year change in earnings per share Optimal: > 10%	72.9% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	30.5% Excellent ↑ Excellent Improving Year-over-year change in net income	7.6% Fair ↓ Fair Declining Year-over-year change in net income	-5.2% Weak Weak Year-over-year change in net income	70.8% Excellent Excellent Year-over-year change in net income	—	—
FCF Growth YoY (%)	N/M	N/M	95.5% Excellent Excellent Year-over-year change in free cash flow	66.9% Excellent Excellent Year-over-year change in free cash flow	—	—
Revenue CAGR 3Y (%)	31.9% Excellent Excellent Compound annual revenue growth over 3 years	104.1% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗
Operating Margin (%) (%)	-11.3% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-176%)	-22.7% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-251%)	-23.9% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-259%)	-29.7% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-298%)	-478.5% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-3290%)	—
Effective Tax Rate (%) (%)	-85.9% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	3.5% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	9.2% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-28.5% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.1% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—
Profit Margin (%) (%)	-8.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-174%)	-16.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-237%)	-22.2% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-285%)	-30.1% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-351%)	-493.4% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-4212%)	—
FCF Margin (%) (%)	-3.8% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	6.7% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	-1.0% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-29.5% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-396.0% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	0.42x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-0.41x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.04x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.98x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	0.80x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗
Return on Invested Capital (%)	-22.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-18.9% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-14.7% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-19.6% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	-74.8% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-4.2% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-7.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-10.0% Weak Weak Operating profit relative to total assets Optimal: > 10%	-9.8% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	-9.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-162%)	-14.2% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-194%)	-15.0% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-200%)	-15.5% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-203%)	-77.0% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-614%)	—

⚖️ Is the balance sheet risky? 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗
Interest Coverage (x)	-3.73x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-3.74x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-11.57x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-9.56x Weak Weak Operating income divided by interest expense Optimal: > 5x	-31.33x Weak Weak Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$-467.71M	$-455.73M	$-442.63M	$-402.47M	—	—

📊 What does each share earn? 8 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗
Revenue per Share (USD)	$7.95	$6.21	$5.10	$3.81	$0.86	—
Basic EPS, GAAP (USD)	$-0.71	$-1.02	$-1.13	$-1.15	$-4.24	—
Free Cash Flow per Share (USD)	$-0.30	$0.42	$-0.05	$-1.12	$-3.40	—
Dividend per Share (USD)	$0.00	$0.00	$0.00	—	—	—
Book Value per Share (USD)	$7.52	$7.20	$7.42	$7.05	$5.50	—
Tangible Book Value per Share (USD)	$7.52	$7.20	$7.42	$7.05	$5.50	—
Basic Weighted Avg Shares (shares)	50.35M	49.99M	48.89M	45.71M	42.49M	—
Dividend Payout Ratio (%)	0.0% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	—	—	—

🏦 How resilient is the balance sheet? 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗
Working Capital (USD)	$750.04M	$717.68M	$389.80M	$373.14M	—	—
Total Equity (USD)	$381.03M	$360.72M	$368.84M	$338.90M	$233.71M	$76.91M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗
Sales/Revenue/Turnover (USD)	$400.02M	$310.20M	$249.43M	$174.36M	$36.48M	—
Depreciation Expense (USD)	$3.10M	$4.20M	$4.10M	$5.30M	$7.60M	—
Net Income, GAAP (USD)	$-35.51M	$-51.09M	$-55.29M	$-52.54M	$-180.03M	—
Operating Cash Flow (USD)	$-10.71M	$26.06M	$2.94M	$-49.21M	$-143.11M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 6 years · 16 quarters

Immunocore Holdings plc

Analytical Summary

6-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Dividend History

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