Comprehensive Stock Comparison
Compare CG Oncology, Inc. Common stock (CGON) vs ImmunityBio, Inc. (IBRX) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | IBRX | 22.7% revenue growth vs CGON's 458.3% |
| Quality / Margins | IBRX | -422.3% net margin vs CGON's -69.7% |
| Stability / Safety | IBRX | Beta 1.39 vs CGON's 1.55 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | IBRX | +197.3% vs CGON's +127.4% |
| Efficiency (ROA) | CGON | -20.8% ROA vs IBRX's -93.2% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
CG Oncology is a clinical-stage biopharmaceutical company developing novel immunotherapies for bladder cancer. It currently generates no revenue from product sales—its business model depends on advancing its lead candidate, cretostimogene, through clinical trials toward regulatory approval and future commercialization. The company's potential moat lies in its oncolytic immunotherapy platform targeting BCG-unresponsive bladder cancer—a high-unmet-need area with limited treatment options.
ImmunityBio is a clinical-stage biotechnology company developing immunotherapies and vaccines for cancers and infectious diseases. It generates revenue primarily through research collaborations and licensing agreements — though as a pre-commercial biotech, it currently relies heavily on equity financing and grants to fund its clinical trials. The company's competitive advantage lies in its integrated immunotherapy platform that combines multiple immune system activation approaches — including antibody cytokine fusion proteins, natural killer cells, and T-cell therapies — which could potentially create synergistic treatment effects.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
IBRX leads in 2 of 6 categories (Financial Metrics, Total Returns). CGON leads in 1 (Profitability & Efficiency). 2 tied.
Financial Metrics (TTM)
IBRX is the larger business by revenue, generating $83M annually — 38.0x CGON's $2M. IBRX is the more profitable business, keeping -4.2% of every revenue dollar as net income compared to CGON's -69.7%. On growth, CGON holds the edge at +37.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | CGONCG Oncology, Inc.… | IBRXImmunityBio, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $2M | $83M |
| EBITDAEarnings before interest/tax | -$180M | -$245M |
| Net IncomeAfter-tax profit | -$151M | -$349M |
| Free Cash FlowCash after capex | -$117M | -$324M |
| Gross MarginGross profit ÷ Revenue | +20.3% | +94.8% |
| Operating MarginEBIT ÷ Revenue | -82.9% | -3.2% |
| Net MarginNet income ÷ Revenue | -69.7% | -4.2% |
| FCF MarginFCF ÷ Revenue | -53.9% | -3.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +37.7% | +4.3% |
| EPS Growth (YoY)Latest quarter vs prior year | -90.0% | +40.8% |
Valuation Metrics
| Metric | CGONCG Oncology, Inc.… | IBRXImmunityBio, Inc. |
|---|---|---|
| Market CapShares × price | $4.6B | $9.6B |
| Enterprise ValueMkt cap + debt − cash | $4.3B | $10.0B |
| Trailing P/EPrice ÷ TTM EPS | -41.70x | -15.77x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | — |
| Price / SalesMarket cap ÷ Revenue | 4041.01x | 653.30x |
| Price / BookPrice ÷ Book value/share | 5.01x | — |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
On the Piotroski fundamental quality scale (0–9), CGON scores 6/9 vs IBRX's 4/9, reflecting solid financial health.
| Metric | CGONCG Oncology, Inc.… | IBRXImmunityBio, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | -22.0% | — |
| ROA (TTM)Return on assets | -20.8% | -93.2% |
| ROICReturn on invested capital | -26.3% | — |
| ROCEReturn on capital employed | -25.0% | -88.9% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 4 |
| Debt / EquityFinancial leverage | 0.00x | — |
| Net DebtTotal debt minus cash | -$257M | $361M |
| Cash & Equiv.Liquid assets | $257M | $143M |
| Total DebtShort + long-term debt | $238,000 | $504M |
| Interest CoverageEBIT ÷ Interest expense | — | -2.48x |
Total Returns (with DRIP)
A $10,000 investment in CGON five years ago would be worth $15,819 today (with dividends reinvested), compared to $2,937 for IBRX. Over the past 12 months, IBRX leads with a +197.3% total return vs CGON's +127.4%. The 3-year compound annual growth rate (CAGR) favors IBRX at 58.8% vs CGON's 16.5% — a key indicator of consistent wealth creation.
| Metric | CGONCG Oncology, Inc.… | IBRXImmunityBio, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +40.7% | +384.2% |
| 1-Year ReturnPast 12 months | +127.4% | +197.3% |
| 3-Year ReturnCumulative with dividends | +58.2% | +300.8% |
| 5-Year ReturnCumulative with dividends | +58.2% | -70.6% |
| 10-Year ReturnCumulative with dividends | +58.2% | +42.2% |
| CAGR (3Y)Annualised 3-year return | +16.5% | +58.8% |
Risk & Volatility
IBRX is the less volatile stock with a 1.39 beta — it tends to amplify market swings less than CGON's 1.55 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CGON currently trades 98.0% from its 52-week high vs IBRX's 78.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CGONCG Oncology, Inc.… | IBRXImmunityBio, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.55x | 1.39x |
| 52-Week HighHighest price in past year | $60.00 | $12.43 |
| 52-Week LowLowest price in past year | $14.80 | $1.83 |
| % of 52W HighCurrent price vs 52-week peak | +98.0% | +78.7% |
| RSI (14)Momentum oscillator 0–100 | 58.2 | 65.0 |
| Avg Volume (50D)Average daily shares traded | 986K | 32.7M |
Analyst Outlook
Wall Street rates CGON as "Buy" and IBRX as "Buy". Consensus price targets imply 34.4% upside for CGON (target: $79) vs 12.5% for IBRX (target: $11).
| Metric | CGONCG Oncology, Inc.… | IBRXImmunityBio, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $79.00 | $11.00 |
| # AnalystsCovering analysts | 9 | 5 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Jan 24 | Feb 26 | Change |
|---|---|---|---|
| CG Oncology, Inc. C… (CGON) | 100 | 146.19 | +46.2% |
| ImmunityBio, Inc. (IBRX) | 100 | 167.95 | +67.9% |
CG Oncology, Inc. C… (CGON) returned +58% over 5 years vs ImmunityBio, Inc. (IBRX)'s -71%. A $10,000 investment in CGON 5 years ago would be worth $15,819 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| CG Oncology, Inc. C… (CGON) | $10M | $1M | -89.0% |
| ImmunityBio, Inc. (IBRX) | $236000.00 | $15M | +6147.9% |
ImmunityBio, Inc.'s revenue grew from $0M (2015) to $15M (2024) — a 58.3% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| CG Oncology, Inc. C… (CGON) | -124.0% | -77.3% | +37.6% |
| ImmunityBio, Inc. (IBRX) | -1003.7% | -28.0% | +97.2% |
ImmunityBio, Inc.'s net margin went from -1004% (2015) to -28% (2024).
Chart 4EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| CG Oncology, Inc. C… (CGON) | -0.28 | -1.41 | -403.6% |
| ImmunityBio, Inc. (IBRX) | -0.73 | -0.62 | +15.1% |
ImmunityBio, Inc.'s EPS grew from $-0.73 (2015) to $-0.62 (2024).
Chart 5Free Cash Flow — 5 Years
CG Oncology, Inc. Common stock generated $-79M FCF in 2024 (-474% vs 2021). ImmunityBio, Inc. generated $-398M FCF in 2024 (-29% vs 2021).
CGON vs IBRX: Frequently Asked Questions
7 questions · data-driven answers · updated daily
01Is CGON or IBRX a better buy right now?
Analysts rate CG Oncology, Inc. Common stock (CGON) a "Buy" — based on 9 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — CGON or IBRX?
Over the past 5 years, CG Oncology, Inc. Common stock (CGON) delivered a total return of +58.2%, compared to -70.6% for ImmunityBio, Inc. (IBRX). A $10,000 investment in CGON five years ago would be worth approximately $16K today (assuming dividends reinvested). Over 10 years, the gap is even starker: CGON returned +58.2% versus IBRX's +42.2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — CGON or IBRX?
By beta (market sensitivity over 5 years), ImmunityBio, Inc. (IBRX) is the lower-risk stock at 1.39β versus CG Oncology, Inc. Common stock's 1.55β — meaning CGON is approximately 11% more volatile than IBRX relative to the S&P 500.
04Which has better profit margins — CGON or IBRX?
ImmunityBio, Inc. (IBRX) is the more profitable company, earning -28.0% net margin versus -77.3% for CG Oncology, Inc. Common stock — meaning it keeps -28.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: IBRX leads at -23.3% versus -100.7% for CGON. At the gross margin level — before operating expenses — CGON leads at 100.0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Which pays a better dividend — CGON or IBRX?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
06Is CGON or IBRX better for a retirement portfolio?
For long-horizon retirement investors, ImmunityBio, Inc. (IBRX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding. CG Oncology, Inc. Common stock (CGON) carries a higher beta of 1.55 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (IBRX: +42.2%, CGON: +58.2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
07What are the main differences between CGON and IBRX?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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