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Immunocore Holdings plc (IMCR) 10-Year Financial Performance & Capital Metrics

IMCR • • Industrial / General
HealthcareBiotechnologyOncology TherapeuticsImmuno-Oncology
AboutImmunocore Holdings plc, a commercial-stage biotechnology company, engages in the development of immunotherapies for the treatment of cancer, infectious, and autoimmune diseases. The company offers KIMMTRAK for the treatment of patients with unresectable or metastatic uveal melanoma. Its other programs for oncology comprise IMC-C103C that is in Phase I/II dose escalation trial in patients with solid tumor cancers, including non-small-cell lung (NSCLC), gastric, head and neck, ovarian, and synovial sarcoma cancers; IMC-F106C, which is in a Phase I/II dose escalation trial in patients with multiple solid tumor cancers comprising NSCLC, small-cell lung, endometrial, ovarian, cutaneous melanoma, and breast cancers. In addition, the company's programs for infectious diseases include IMC-I109V, which is in a Phase I/II clinical trial in patients with chronic hepatitis B virus; and IMC-M113V that is in pre-clinical development stage for patients with human immunosuppression virus. Further, it develops product candidates to provide precision targeted immunosuppression for the treatment of autoimmune diseases. Immunocore Holdings plc was founded in 1999 and is headquartered in Abingdon, the United Kingdom.Show more
  • Revenue $248M -0.7%
  • EBITDA -$53M +4.7%
  • Net Income -$41M +26.2%
  • EPS (Diluted) -1.02 +9.7%
  • Gross Margin 96.61% -3.0%
  • EBITDA Margin -21.36% +4.1%
  • Operating Margin -22.71% +5.0%
  • Net Margin -16.47% +25.7%
  • ROE -11.19% +28.4%
  • ROIC -24.26% +92.4%
  • Debt/Equity 1.20 +426.6%
  • Interest Coverage -2.99 +74.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 57.4%

✗Weaknesses

  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y57.37%
3Y89.37%
TTM27.84%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM40.14%

EPS CAGR

10Y-
5Y-
3Y-
TTM40.28%

ROCE

10Y Avg-45.64%
5Y Avg-34.21%
3Y Avg-11.29%
Latest-8.97%

Peer Comparison

Immuno-Oncology
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
IMTXImmatics N.V.1.26B9.3867188.6%-136.72%-27.81%0.03
CTMXCytomX Therapeutics, Inc.692.99M4.0910.7636.45%24.66%26.09%
IOVAIovance Biotherapeutics, Inc.932.87M2.35-1.84136.99%-158.78%-56.62%0.08
REPLReplimune Group, Inc.630.68M8.04-2.62-117.82%0.18
IMNMImmunome, Inc.2.22B20.14-4.03-35.5%-23.01%-84.4%0.03
NKTRNektar Therapeutics744.1M36.58-4.219.22%-192.87%-141.9%1.69
IBRXImmunityBio, Inc.2.78B2.82-4.5522.71%-422.28%
CRVSCorvus Pharmaceuticals, Inc.485.43M6.50-6.37-21.01%0.03

Profit & Loss

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+23.65M25.67M30.11M36.48M144.23M249.43M247.77M
Revenue Growth %-0.09%0.17%0.21%2.95%0.73%-0.01%
Cost of Goods Sold+099.99M74.81M05.29M1.04M8.39M
COGS % of Revenue-3.9%2.48%-0.04%0%0.03%
Gross Profit+23.65M-74.32M-44.7M36.48M138.94M248.39M239.38M
Gross Margin %1%-2.9%-1.48%1%0.96%1%0.97%
Gross Profit Growth %--4.14%0.4%1.82%2.81%0.79%-0.04%
Operating Expenses+117.73M44M41.5M211.07M181.71M308.04M295.66M
OpEx % of Revenue4.98%1.71%1.38%5.79%1.26%1.23%1.19%
Selling, General & Admin34.16M44.18M45.74M110.82M0144.5M0
SG&A % of Revenue1.44%1.72%1.52%3.04%-0.58%-
Research & Development83.58M99.99M74.81M100.25M84.31M163.54M177.44M
R&D % of Revenue3.53%3.9%2.48%2.75%0.58%0.66%0.72%
Other Operating Expenses0-100.18M-79.05M097.4M0118.22M
Operating Income+-93.45M-118.32M-86.19M-174.59M-42.77M-59.65M-56.28M
Operating Margin %-3.95%-4.61%-2.86%-4.79%-0.3%-0.24%-0.23%
Operating Income Growth %--0.27%0.27%-1.03%0.76%-0.39%0.06%
EBITDA+-86.75M-111.56M-79.75M-167M-38.36M-55.56M-52.92M
EBITDA Margin %-3.67%-4.35%-2.65%-4.58%-0.27%-0.22%-0.21%
EBITDA Growth %--0.29%0.29%-1.09%0.77%-0.45%0.05%
D&A (Non-Cash Add-back)6.71M6.76M6.45M7.59M4.41M4.09M3.36M
EBIT-87.34M-118.32M-88.83M-174.31M-42.77M-55.74M-41.86M
Net Interest Income+-20K-2.4M-2.4M-5.51M-1.65M12.83M6.77M
Interest Income822K1.4M706K65K3.76M17.99M25.62M
Interest Expense842K3.8M3.11M5.57M5.41M5.15M18.84M
Other Income/Expense5.28M36.65M-1.17M-5.29M8.95M-1.24M14M
Pretax Income+-88.18M-81.67M-87.36M-179.88M-33.82M-60.89M-42.28M
Pretax Margin %-3.73%-3.18%-2.9%-4.93%-0.23%-0.24%-0.17%
Income Tax+-16.55M22.26M-13.27M150K9.65M-5.6M-1.48M
Effective Tax Rate %0.81%1.27%0.85%1%1.29%0.91%0.97%
Net Income+-71.63M-103.93M-74.09M-180.03M-43.46M-55.29M-40.81M
Net Margin %-3.03%-4.05%-2.46%-4.93%-0.3%-0.22%-0.16%
Net Income Growth %--0.45%0.29%-1.43%0.76%-0.27%0.26%
Net Income (Continuing)-71.63M-103.93M-74.09M-180.03M-43.46M-55.29M-40.81M
Discontinued Operations0000000
Minority Interest0000000
EPS (Diluted)+-2.62-3.81-2.33-3.00-0.95-1.13-1.02
EPS Growth %--0.45%0.39%-0.29%0.68%-0.19%0.1%
EPS (Basic)-2.62-3.81-2.33-3.13-0.95-1.13-1.02
Diluted Shares Outstanding27.31M27.31M31.78M43.86M45.71M48.89M49.99M
Basic Shares Outstanding27.31M27.31M31.78M42.49M45.71M48.89M49.99M
Dividend Payout Ratio-------

Balance Sheet

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+171.18M164.64M152.93M354.58M473.98M528.82M929.86M
Cash & Short-Term Investments124.39M97.99M176.78M321.06M402.47M442.63M820.38M
Cash Only124.39M97.99M176.78M321.06M402.47M442.63M455.73M
Short-Term Investments000000364.64M
Accounts Receivable46.08M66.3M2.05M33.52M57.08M61.44M83.1M
Days Sales Outstanding711942.7924.86335.4144.4589.9122.41
Inventory-7.57M0-6.51M0692K4.5M5.45M
Days Inventory Outstanding----47.711.58K236.97
Other Current Assets42.42M352.38K-25.9M-7.69M3.62M9.71M7.9M
Total Non-Current Assets+24.6M81.3M44.26M52.7M52.78M68.18M79.64M
Property, Plant & Equipment20.87M72.7M36.85M42.56M38.78M42.73M47.73M
Fixed Asset Turnover1.13x0.35x0.82x0.86x3.72x5.84x5.19x
Goodwill0000000
Intangible Assets318K000000
Long-Term Investments00973K222.69K137K00
Other Non-Current Assets2.53M6.6M4.21M6.44M8.34M14.47M17.12M
Total Assets+195.78M245.94M197.19M407.28M526.76M597M1.01B
Asset Turnover0.12x0.10x0.15x0.09x0.27x0.42x0.25x
Asset Growth %-0.26%-0.2%1.07%0.29%0.13%0.69%
Total Current Liabilities+49.61M111.96M55M82.57M100.83M139.02M212.18M
Accounts Payable6.44M20.84M7.88M10.12M14.45M17.8M25.1M
Days Payables Outstanding-76.0638.45-996.236.26K1.09K
Short-Term Debt027.96M9.84M0000
Deferred Revenue (Current)01000K1000K1000K1000K00
Other Current Liabilities29.91M25.28M-19.8M83.68K9.15M11.6M13.1M
Current Ratio3.45x1.47x2.78x4.29x4.70x3.80x4.38x
Quick Ratio3.60x1.47x2.90x4.29x4.69x3.77x4.36x
Cash Conversion Cycle-----804.07-4.59K-732.79
Total Non-Current Liabilities+89.59M114.41M86.85M93.19M87.02M89.14M436.61M
Long-Term Debt18.88M036.65M50.24M47.81M48.01M391.01M
Capital Lease Obligations050.74M25.19M34.22M31.76M34.63M40.16M
Deferred Tax Liabilities00-24.87M0000
Other Non-Current Liabilities70.71M139.1K25.01M76.93K2.21M978K0
Total Liabilities139.19M226.37M141.85M175.76M187.86M228.16M648.79M
Total Debt+18.88M78.7M74.47M86.16M81.45M84.03M432.72M
Net Debt-105.51M-19.29M-102.31M-234.9M-321.02M-358.59M-23.01M
Debt / Equity0.33x4.02x1.35x0.37x0.24x0.23x1.20x
Debt / EBITDA-------
Net Debt / EBITDA-------
Interest Coverage-110.99x-31.17x-27.72x-31.33x-7.91x-11.57x-2.99x
Total Equity+56.58M19.57M55.35M231.53M338.9M368.84M360.72M
Equity Growth %--0.65%1.83%3.18%0.46%0.09%-0.02%
Book Value per Share2.070.721.745.287.417.547.22
Total Shareholders' Equity56.58M19.57M55.35M231.53M338.9M368.84M360.72M
Common Stock0064K118.77K129K105.11K135K
Retained Earnings-175.18M-369.75M-349.87M-649.7M-689.39M-744.67M-795.76M
Treasury Stock0000000
Accumulated OCI67K14.08M405.15M521.31M-54.67M-36.26M-33.76M
Minority Interest0000000

Cash Flow

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-16.63M-101.38M-60.57M-143.11M-49.21M2.94M26.06M
Operating CF Margin %-0.7%-3.95%-2.01%-3.92%-0.34%0.01%0.11%
Operating CF Growth %--5.1%0.4%-1.36%0.66%1.06%7.86%
Net Income-71.63M-103.93M-74.09M-180.03M-52.54M-43.37M-51.09M
Depreciation & Amortization6.71M9.21M8.98M7.59M5.33M4.09M4.2M
Stock-Based Compensation666K3.06M8.16M48.89M32.89M32.47M34.19M
Deferred Taxes-16.55M-22.26M-13.27M-12.69M-3.53M00
Other Non-Cash Items-3.4M22.64M38.45M15.09M-7.19M3.97M-6.38M
Working Capital Changes67.58M-10.09M-28.8M-21.96M-24.16M5.78M45.13M
Change in Receivables01.83M-532K-4.86M-26.26M-17.87M-12.35M
Change in Inventory0000000
Change in Payables0001.47M4.91M2.63M7.27M
Cash from Investing+58.01M-4.14M467K-1.28M-2.2M-5.42M-355.13M
Capital Expenditures-3.54M-4.28M-3.07M-1.39M-2.2M-4.26M-5.17M
CapEx % of Revenue0.15%0.17%0.1%0.04%0.02%0.02%0.02%
Acquisitions-------
Investments-------
Other Investing34.1M139K3.54M106K6K-1.17M44K
Cash from Financing+101K55.13M115.94M288.19M145.44M34.35M343.88M
Debt Issued (Net)-------
Equity Issued (Net)-------
Dividends Paid0000000
Share Repurchases-------
Other Financing101K-711K-42.6M1.3M5.93M34.35M-8.62M
Net Change in Cash-------
Free Cash Flow+-20.16M-105.65M-63.65M-144.49M-51.41M-2.48M20.89M
FCF Margin %-0.85%-4.12%-2.11%-3.96%-0.36%-0.01%0.08%
FCF Growth %--4.24%0.4%-1.27%0.64%0.95%9.41%
FCF per Share-0.74-3.87-2.00-3.29-1.12-0.050.42
FCF Conversion (FCF/Net Income)0.23x0.98x0.82x0.79x1.13x-0.05x-0.64x
Interest Paid0005.71M4.48M00
Taxes Paid0000765K977K510K

Key Ratios

Metric2018201920202021202220232024
Return on Equity (ROE)-126.59%-272.96%-197.81%-125.51%-15.24%-15.62%-11.19%
Return on Invested Capital (ROIC)--31597.28%---442.43%-318.08%-24.26%
Gross Margin100%-289.54%-148.42%100%96.33%99.58%96.61%
Net Margin-302.82%-404.89%-246.04%-493.45%-30.13%-22.17%-16.47%
Debt / Equity0.33x4.02x1.35x0.37x0.24x0.23x1.20x
Interest Coverage-110.99x-31.17x-27.72x-31.33x-7.91x-11.57x-2.99x
FCF Conversion0.23x0.98x0.82x0.79x1.13x-0.05x-0.64x
Revenue Growth-8.52%17.32%21.15%295.34%72.93%-0.66%

Revenue by Segment

20202021202220232024
Sale of Therapies----309.99M
Sale of Therapies Growth-----
Collaboration Revenue----213K
Collaboration Revenue Growth-----
UNITED STATES-174.27M-169.79M-
UNITED STATES Growth-----
Europe-3.01M-67.63M-
Europe Growth-----
International---3.6M-
International Growth-----
Genentech20.24M-19.57M--
Genentech Growth-----
Eli Lilly3.52M-7.36M--
Eli Lilly Growth-----
UK-6.08M---
UK Growth-----
GlaxoSmithKline6.36M----
GlaxoSmithKline Growth-----

Revenue by Geography

20202021202220232024
UNITED STATES-174.27M80.45M169.79M-
UNITED STATES Growth---53.84%111.06%-
Europe-3.01M35.49M67.63M-
Europe Growth--1079.07%90.56%-
International---3.6M-
International Growth-----
World--871K--
World Growth-----
UK6.36M6.08M---
UK Growth--4.30%---
United States23.76M----
United States Growth-----

Frequently Asked Questions

Growth & Financials

Immunocore Holdings plc (IMCR) reported $379.6M in revenue for fiscal year 2024. This represents a 1505% increase from $23.7M in 2018.

Immunocore Holdings plc (IMCR) saw revenue decline by 0.7% over the past year.

Immunocore Holdings plc (IMCR) reported a net loss of $28.3M for fiscal year 2024.

Dividend & Returns

Immunocore Holdings plc (IMCR) has a return on equity (ROE) of -11.2%. Negative ROE indicates the company is unprofitable.

Immunocore Holdings plc (IMCR) generated $2.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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