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IMCR · Nasdaq · United States · Biological Products, (No Diagnostic Substances)
In shortImmunocore Holdings plc is loss-making.
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -11.3% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -8.9% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -9.6% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 4.04× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | – | n/a |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -3.73× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 2.37 | 33/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -3.8% | 5/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 1 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 0 of 5 | 0/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 4 | 100/100 |
| Revenue growth volatility | 173.1% | 0/100 |
| Operating margin volatility | 204.3% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 31.9% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 36 | 174 | 249 | 310 | 400 |
| Cost of revenue | 0 | 1.1 | 1 | 2.7 | 5.1 |
| Gross profit | 36 | 173 | 248 | 307 | 395 |
| Research & development | 100 | 102 | 164 | 222 | 275 |
| Selling, general & admin | 111 | 123 | 144 | 156 | 165 |
| Operating income | (175) | (52) | (60) | (70) | (45) |
| Interest expense | 5.6 | 5.4 | 5.2 | 19 | 12 |
| Pre-tax income | (180) | (41) | (61) | (53) | (19) |
| Income tax | 0.2 | 12 | (5.6) | (1.9) | 16 |
| Net income | (180) | (53) | (55) | (51) | (36) |
| Diluted EPS | −$4.24 | −$1.15 | −$1.13 | −$1.02 | −$0.71 |
| Diluted shares (millions) | 42 | 46 | 49 | 50 | 50 |
The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.
The last 8 quarters of Immunocore Holdings plc are included in the Investor plan. Try free for 7 days →
2.37 Grey zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 6, 2026