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IMMUNOCORE HOLDINGS PLC-ADR (IMCR) Stock Fundamental Analysis

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

29.92  +0.05 (+0.17%)

After market: 29.92 0 (0%)

Fundamental Rating

4

Taking everything into account, IMCR scores 4 out of 10 in our fundamental rating. IMCR was compared to 571 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

In the past year IMCR has reported negative net income.
In the past year IMCR had a positive cash flow from operations.
IMCR had negative earnings in each of the past 5 years.
In the past 5 years IMCR reported 4 times negative operating cash flow.
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 0 -20M -40M -60M -80M -100M

1.2 Ratios

IMCR has a Return On Assets of -7.62%. This is amongst the best in the industry. IMCR outperforms 88.45% of its industry peers.
IMCR has a Return On Equity of -21.86%. This is amongst the best in the industry. IMCR outperforms 84.37% of its industry peers.
Industry RankSector Rank
ROA -7.62%
ROE -21.86%
ROIC N/A
ROA(3y)-20.76%
ROA(5y)-31.17%
ROE(3y)-35.48%
ROE(5y)-188.49%
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 -200 -400 -600

1.3 Margins

Looking at the Gross Margin, with a value of 99.28%, IMCR belongs to the top of the industry, outperforming 98.58% of the companies in the same industry.
IMCR does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 99.28%
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 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 more shares outstanding
IMCR has more shares outstanding than it did 5 years ago.
The debt/assets ratio for IMCR has been reduced compared to a year ago.
IMCR Yearly Shares OutstandingIMCR Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 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 100M 200M 300M 400M 500M

2.2 Solvency

Based on the Altman-Z score of 1.19, we must say that IMCR is in the distress zone and has some risk of bankruptcy.
With a decent Altman-Z score value of 1.19, IMCR is doing good in the industry, outperforming 67.85% of the companies in the same industry.
The Debt to FCF ratio of IMCR is 15.89, which is on the high side as it means it would take IMCR, 15.89 years of fcf income to pay off all of its debts.
IMCR has a better Debt to FCF ratio (15.89) than 92.90% 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.
The Debt to Equity ratio of IMCR (1.03) is worse than 79.93% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.03
Debt/FCF 15.89
Altman-Z 1.19
ROIC/WACCN/A
WACC9.33%
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 0 100M -100M 200M 300M

2.3 Liquidity

A Current Ratio of 3.78 indicates that IMCR has no problem at all paying its short term obligations.
With a Current ratio value of 3.78, IMCR perfoms like the industry average, outperforming 44.58% of the companies in the same industry.
IMCR has a Quick Ratio of 3.76. This indicates that IMCR is financially healthy and has no problem in meeting its short term obligations.
With a Quick ratio value of 3.76, IMCR perfoms like the industry average, outperforming 46.18% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 3.78
Quick Ratio 3.76
IMCR Yearly Current Assets VS Current LiabilitesIMCR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M 500M

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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 20.99%, which is quite impressive.
Looking at the last year, IMCR shows a very strong growth in Revenue. The Revenue has grown by 131.20%.
The Revenue has been growing by 60.12% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)20.99%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%235.84%
Revenue 1Y (TTM)131.2%
Revenue growth 3Y102.36%
Revenue growth 5Y60.12%
Sales Q2Q%23.17%

3.2 Future

The Earnings Per Share is expected to grow by 7.69% on average over the next years.
Based on estimates for the next years, IMCR will show a quite strong growth in Revenue. The Revenue will grow by 18.24% on average per year.
EPS Next Y20.31%
EPS Next 2Y-20.14%
EPS Next 3Y-22.8%
EPS Next 5Y7.69%
Revenue Next Year25.1%
Revenue Next 2Y18.89%
Revenue Next 3Y15.22%
Revenue Next 5Y18.24%

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 200M 400M 600M 800M 1B
IMCR Yearly EPS VS EstimatesIMCR Yearly EPS VS EstimatesYearly EPS VS Estimates 2018 2019 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 60 80

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, IMCR is valued cheaper than 93.61% of the companies in the same industry.
Industry RankSector Rank
P/FCF 54.23
EV/EBITDA N/A
IMCR Per share dataIMCR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8

4.3 Compensation for Growth

IMCR's earnings are expected to decrease with -22.80% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-20.14%
EPS Next 3Y-22.8%

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0

5. Dividend

5.1 Amount

IMCR does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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IMMUNOCORE HOLDINGS PLC-ADR

NASDAQ:IMCR (2/21/2025, 8:00:01 PM)

After market: 29.92 0 (0%)

29.92

+0.05 (+0.17%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)11-06 2024-11-06/bmo
Earnings (Next)02-26 2025-02-26/bmo
Inst Owners91.87%
Inst Owner Change-97.55%
Ins Owners0.07%
Ins Owner Change0%
Market Cap1.50B
Analysts81.74
Price Target65.82 (119.99%)
Short Float %16.18%
Short Ratio28.08
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)2
Avg EPS beat(2)100.04%
Min EPS beat(2)52.62%
Max EPS beat(2)147.46%
EPS beat(4)2
Avg EPS beat(4)31.24%
Min EPS beat(4)-42.33%
Max EPS beat(4)147.46%
EPS beat(8)4
Avg EPS beat(8)-309193%
EPS beat(12)7
Avg EPS beat(12)-206106%
EPS beat(16)8
Avg EPS beat(16)-154580%
Revenue beat(2)0
Avg Revenue beat(2)-1.65%
Min Revenue beat(2)-2.35%
Max Revenue beat(2)-0.95%
Revenue beat(4)1
Avg Revenue beat(4)-1.22%
Min Revenue beat(4)-3.17%
Max Revenue beat(4)1.59%
Revenue beat(8)4
Avg Revenue beat(8)1.26%
Revenue beat(12)8
Avg Revenue beat(12)32.95%
Revenue beat(16)12
Avg Revenue beat(16)26.25%
PT rev (1m)-0.92%
PT rev (3m)-4.72%
EPS NQ rev (1m)-3.19%
EPS NQ rev (3m)-3.19%
EPS NY rev (1m)-0.16%
EPS NY rev (3m)29.49%
Revenue NQ rev (1m)0.63%
Revenue NQ rev (3m)0.63%
Revenue NY rev (1m)-0.02%
Revenue NY rev (3m)0.01%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 3.15
P/FCF 54.23
P/OCF 52.83
P/B 3.96
P/tB 3.96
EV/EBITDA N/A
EPS(TTM)-0.95
EYN/A
EPS(NY)-1.53
Fwd EYN/A
FCF(TTM)0.55
FCFY1.84%
OCF(TTM)0.57
OCFY1.89%
SpS9.51
BVpS7.55
TBVpS7.55
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -7.62%
ROE -21.86%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 99.28%
FCFM 5.8%
ROA(3y)-20.76%
ROA(5y)-31.17%
ROE(3y)-35.48%
ROE(5y)-188.49%
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-Score4
Asset Turnover0.44
Health
Industry RankSector Rank
Debt/Equity 1.03
Debt/FCF 15.89
Debt/EBITDA N/A
Cap/Depr 34.76%
Cap/Sales 0.15%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 3.78
Quick Ratio 3.76
Altman-Z 1.19
F-Score4
WACC9.33%
ROIC/WACCN/A
Cap/Depr(3y)60.98%
Cap/Depr(5y)52.72%
Cap/Sales(3y)2.51%
Cap/Sales(5y)6.87%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)20.99%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%235.84%
EPS Next Y20.31%
EPS Next 2Y-20.14%
EPS Next 3Y-22.8%
EPS Next 5Y7.69%
Revenue 1Y (TTM)131.2%
Revenue growth 3Y102.36%
Revenue growth 5Y60.12%
Sales Q2Q%23.17%
Revenue Next Year25.1%
Revenue Next 2Y18.89%
Revenue Next 3Y15.22%
Revenue Next 5Y18.24%
EBIT growth 1Y-96.28%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-30.45%
EBIT Next 3Y-42.21%
EBIT Next 5Y12.66%
FCF growth 1Y155.88%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y158.72%
OCF growth 3YN/A
OCF growth 5YN/A