Latest Ratios: P/E Ratio -0.5x · EV/EBITDA N/A · ROE -75.6%. (2008–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $25M | $61M | $12M | $12M | $10M | $9M | $12M | $7M | $13M | $17M | $15M |
| Enterprise Value | $-21974766 | $-6464642 | $-53845322 | $-148125685 | $-112687688 | $-69508583 | $-45619883 | $-9939245 | $4M | $96396 | $9M |
| P/E Ratio → | -0.45 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 2.52 | 4.31 | 2.37 | 3.14 | 2.71 | 51.38 | 3.03 | 0.98 | 92.69 | 6.43 | 3.64 |
| P/B Ratio | 0.58 | 1.00 | 0.08 | 0.06 | 0.07 | 0.09 | 0.16 | 0.22 | 0.53 | 0.50 | 0.58 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.45 | -10.68 | -38.56 | -32.14 | -407.99 | -11.81 | -1.33 | 28.84 | 0.04 | 2.11 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.0% | 83.0% | -1117.6% | -981.4% | 41.2% | -1111.2% | -346.2% | -200.2% | -11769.3% | -279.8% | 59.7% |
| Operating Margin | -576.2% | -576.2% | -2506.5% | -2293.3% | -2216.0% | -19920.0% | -820.0% | -214.0% | -14606.5% | -444.5% | -221.5% |
| Net Profit Margin | -544.8% | -544.8% | -1218.0% | -1111.9% | -1138.0% | -18906.5% | -774.1% | -179.9% | -11640.0% | -484.6% | -221.9% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -75.6% | -75.6% | -36.9% | -26.2% | -34.6% | -38.5% | -56.1% | -46.7% | -56.2% | -42.4% | -30.3% |
| ROA | -64.6% | -64.6% | -34.3% | -24.5% | -32.0% | -35.0% | -46.5% | -30.9% | -37.2% | -31.1% | -24.2% |
| ROIC | -172.0% | -172.0% | -176.9% | -303.1% | -387.2% | -160.2% | -148.5% | -76.3% | -95.2% | -47.7% | -35.5% |
| ROCE | -76.9% | -76.9% | -75.4% | -53.6% | -66.6% | -39.4% | -52.8% | -40.8% | -52.1% | -31.0% | -25.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.02 | 0.04 | 0.27 | 0.31 | 0.20 | 0.22 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.10 | -0.46 | -0.85 | -0.90 | -0.83 | -0.78 | -0.52 | -0.37 | -0.50 | -0.24 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -1235.43 | -1235.43 | — | -1521.78 | -2030.85 | -366.09 | -2000.62 | -1286.96 | — | — | — |
Net cash position: cash ($69M) exceeds total debt ($1M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.69 | 5.69 | 11.69 | 18.25 | 13.81 | 14.16 | 12.81 | 9.26 | 4.44 | 7.43 | 6.05 |
| Quick Ratio | 5.69 | 5.69 | 11.69 | 18.25 | 13.81 | 14.16 | 13.87 | 9.26 | 4.44 | 7.43 | 5.80 |
| Cash Ratio | 4.86 | 4.86 | 10.16 | 17.34 | 12.63 | 12.47 | 11.26 | 7.82 | 3.13 | 6.09 | 4.65 |
| Asset Turnover | — | 0.17 | 0.03 | 0.02 | 0.02 | 0.00 | 0.05 | 0.16 | 0.00 | 0.06 | 0.12 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | 2.65 |
| Days Sales Outstanding | — | 246.70 | 0.54 | 718.10 | 830.13 | 17939.78 | 578.68 | 165.36 | 13659.28 | 483.19 | 189.71 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $7M | $7M | $6M | $5M | $4M | $3M | $2M | $2M | $2M | $2M |
Includes 30+ ratios · 19 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying IMMP stock.
Immutep Limited's current P/E ratio is -0.5x. This places it at the 50th percentile of its historical range.
Immutep Limited's return on equity (ROE) is -75.6%. The historical average is -69.5%.
Based on historical data, Immutep Limited is trading at a P/E of -0.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Immutep Limited has 83.0% gross margin and -576.2% operating margin.
Key Metrics
Top Statement Risk
Clinical trial funding dependency
Speculative Premium Reflects Pipeline Potential
Based on reported figures, Immutep trades at a price-to-sales multiple of 16.53, which suggests that investors are pricing the company as a high-growth clinical option rather than a traditional industrial entity, despite the absence of recurring commercial revenue streams to support such a valuation.
The elevated P/S ratio indicates that market participants are assigning significant value to the LAG-3 platform's potential rather than current financial performance. This valuation appears to be highly sensitive to clinical trial outcomes, as the lack of earnings makes traditional P/E metrics irrelevant and highlights the speculative nature of the current share price.
Capital Efficiency Impaired by R&D
According to historical data, Immutep's ROIC has remained deeply negative, reaching -65.6% in 2026Q2, which reflects the structural reality of a pre-commercial biotechnology firm that must prioritize long-term clinical development over immediate returns on invested capital to maintain its competitive position in the oncology market.
The persistent decay in return metrics suggests that the company is currently in a value-consuming phase of its lifecycle. Investors should monitor whether future milestone payments or potential commercialization can eventually offset the heavy R&D spending that currently suppresses capital efficiency below industry norms.
Working Capital Volatility Masks Operations
As reported in financial statements, Immutep's asset turnover remains extremely low at 0.04 in 2026Q2, illustrating that the company's asset base is primarily composed of cash and intellectual property rather than revenue-generating operational assets that would typically drive higher turnover ratios in more mature business models.
The erratic nature of the cash conversion cycle and DSO metrics appears to be a direct consequence of the lumpy, milestone-driven revenue structure. This lack of operational consistency makes traditional efficiency ratios less meaningful for assessing the company's day-to-day management of working capital compared to its peers.
Conservative Capital Structure Preserves Flexibility
Based on the provided figures, Immutep maintains a minimal debt-to-equity ratio of 0.01, which suggests that management has successfully avoided the risks associated with debt-heavy financing, opting instead to rely on equity dilution to fund its ongoing clinical trials and research initiatives.
This low leverage profile provides a degree of financial safety, as the company is not burdened by interest payments that could otherwise exacerbate its cash burn. However, this reliance on equity financing warrants further investigation, as it implies that shareholders may face continued dilution until the company reaches a self-sustaining commercial stage.
Misapplication of Traditional Profitability Metrics
The most commonly misapplied metric for Immutep is the net profit margin, which, at -7.4% in 2026Q2, obscures the company's true financial health by failing to distinguish between core operational burn and the non-recurring, milestone-driven revenue that characterizes its current pre-commercial business model.
Analysts should instead focus on the cash burn rate and the remaining runway, as net income is heavily distorted by accounting treatments of R&D tax credits and milestone recognition. Relying on traditional profitability ratios in this context may lead to an inaccurate assessment of the company's ability to survive until its next major clinical data readout.