NASDAQ : ICCC
ImmuCell Corporation — Financial statements
Healthcare · Biotechnology · United States
Last price 10.26 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 93.18M
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Financial statements
ImmuCell Corporation (ICCC) reported revenue of 30.68M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 30.68M | 27.64M | 26.49M | 17.47M | 18.57M | 19.24M |
| Cost of Revenue | 18.31M | 16.20M | 18.55M | 13.08M | 10.33M | 10.59M |
| Gross Profit | 12.37M | 11.45M | 7.94M | 4.40M | 8.24M | 8.66M |
| Selling, General & Admin | 7.81M | 5.95M | 5.68M | 5.22M | 5.45M | 4.23M |
| Research & Development | 1.89M | 3.04M | 3.90M | 4.39M | 4.49M | 4.17M |
| Operating Expenses | 7.70M | 9.00M | 9.58M | 9.62M | 9.95M | 8.40M |
| Operating Income | 4.67M | 2.45M | -1.64M | -5.22M | -1.71M | 257.38K |
| Interest Expense | -436.00K | -493.38K | -568.73K | -475.60K | -348.54K | -314.36K |
| Interest & Investment Income | 182.84K | 158.71K | 77.70K | 96.57K | 153.10K | 18.81K |
| Other Non Operating Income (Expenses) | 11.85K | 3.78K | 107.00 | 912.00 | ||
| EBT Excluding Unusual Items | 4.43M | 2.12M | -2.13M | -5.60M | -1.90M | -38.16K |
| Merger & Restructuring Charges | -800.00K | -800.00K | ||||
| Gain (Loss) on Sale of Assets | -104.35K | -106.35K | -15.39K | -8.10K | 7.33K | -30.96K |
| Asset Writedown | -2.67M | -2.67M | ||||
| Other Unusual Items | -527.00K | -589.00K | ||||
| Pretax Income | 853.61K | -1.03M | -2.15M | -5.77M | -2.49M | -69.13K |
| Income Tax Expense | 66.23K | 11.57K | 10.06K | 4.63K | 7.67K | 9.16K |
| Net Income | 787.37K | -1.04M | -2.16M | -5.77M | -2.49M | -78.29K |
| Net Income to Common | 787.37K | -1.04M | -2.16M | -5.77M | -2.49M | -78.29K |
| Shares Outstanding (Basic) | 9.05M | 9.03M | 8.17M | 7.75M | 7.75M | 7.59M |
| Shares Outstanding (Diluted) | 9.09M | 9.03M | 8.17M | 7.75M | 7.75M | 7.59M |
| EPS (Basic) | 0.09 | -0.12 | -0.26 | -0.75 | -0.32 | -0.01 |
| EPS (Diluted) | 0.07 | -0.12 | -0.26 | -0.75 | -0.32 | -0.01 |
| Free Cash Flow | 4.21M | 1.22M | -107.82K | -6.57M | -5.52M | -1.65M |
| Free Cash Flow Per Share | 0.46 | 0.14 | -0.01 | -0.85 | -0.71 | -0.22 |
| Gross Margin | 40.32% | 41.40% | 29.97% | 25.16% | 44.37% | 44.98% |
| Operating Margin | 15.21% | 8.86% | -6.19% | -29.88% | -9.21% | 1.34% |
| Profit Margin | 2.57% | -3.76% | -8.14% | -33.05% | -13.43% | -0.41% |
| Free Cash Flow Margin | 13.74% | 4.43% | -0.41% | -37.59% | -29.72% | -8.60% |
| EBITDA | 7.05M | 5.18M | 1.05M | -2.50M | 777.64K | 2.72M |
| EBITDA Margin | 22.98% | 18.73% | 3.95% | -14.33% | 4.19% | 14.13% |
| D&A For EBITDA | 2.38M | 2.73M | 2.69M | 2.72M | 2.49M | 2.46M |
| EBIT | 4.67M | 2.45M | -1.64M | -5.22M | -1.71M | 257.38K |
| EBIT Margin | 15.21% | 8.86% | -6.19% | -29.88% | -9.21% | 1.34% |
| Effective Tax Rate | 7.76% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 8.86M | 3.81M | 3.76M | 978.74K | 5.79M | 10.19M |
| Cash & Short-Term Investments | 8.86M | 3.81M | 3.76M | 978.74K | 5.79M | 10.19M |
| Accounts Receivable | 2.90M | 3.42M | 3.77M | 2.19M | 1.76M | 2.69M |
| Other Receivables | 6.35K | 31.18K | 40.55K | 39.73K | 42.18K | 26.48K |
| Receivables | 2.90M | 3.45M | 3.81M | 2.23M | 1.80M | 2.72M |
| Inventory | 9.08M | 9.27M | 7.11M | 7.81M | 6.04M | 3.09M |
| Prepaid Expenses | 237.73K | 420.50K | 360.21K | 454.15K | 363.88K | 268.71K |
| Total Current Assets | 21.08M | 16.94M | 15.04M | 11.47M | 13.99M | 16.26M |
| Property, Plant & Equipment | 25.42M | 25.45M | 29.91M | 32.15M | 30.64M | 28.00M |
| Goodwill | 95.56K | 95.56K | 95.56K | 95.56K | 95.56K | 95.56K |
| Other Intangible Assets | 19.10K | 38.21K | 57.31K | 76.42K | ||
| Other Long-Term Assets | 31.66K | 37.69K | 33.37K | 57.66K | 76.63K | 26.11K |
| Total Assets | 46.63M | 42.53M | 45.10M | 43.81M | 44.86M | 44.47M |
| Accounts Payable | 892.78K | 792.22K | 934.88K | 874.56K | 726.74K | 726.78K |
| Accrued Expenses | 1.80M | 1.48M | 1.53M | 1.23M | 1.21M | 867.07K |
| Current Portion of Long-Term Debt | 1.51M | 1.61M | 1.50M | 1.43M | 1.04M | 812.21K |
| Current Portion of Leases | 121.86K | 85.49K | 432.07K | 644.28K | 31.76K | 108.01K |
| Current Income Taxes Payable | 54.56K | 6.69K | 5.82K | 3.05K | 4.89K | 2.14K |
| Other Current Liabilities | 56.51K | 4.07K | 8.75K | 13.18K | 63.26K | 18.26K |
| Total Current Liabilities | 4.44M | 3.98M | 4.41M | 4.20M | 3.07M | 2.53M |
| Long-Term Debt | 6.80M | 7.49M | 9.04M | 10.54M | 9.19M | 8.33M |
| Long-Term Leases | 4.02M | 4.01M | 4.13M | 4.08M | 2.22M | 1.03M |
| Total Liabilities | 15.26M | 15.48M | 17.58M | 18.82M | 14.48M | 11.89M |
| Common Stock | 910.56K | 910.56K | 904.24K | 781.42K | 781.42K | 781.42K |
| Additional Paid-In Capital | 41.97M | 41.48M | 40.92M | 36.36M | 35.98M | 35.69M |
| Retained Earnings | -11.43M | -15.20M | -14.16M | -12.01M | -6.23M | -3.74M |
| Treasury Stock | -77.34K | -130.76K | -138.48K | -138.48K | -147.23K | -158.17K |
| Shareholders' Equity | 31.37M | 27.06M | 27.52M | 24.99M | 30.38M | 32.58M |
| Total Liabilities & Equity | 46.63M | 42.53M | 45.10M | 43.81M | 44.86M | 44.47M |
| Total Debt | 12.45M | 13.19M | 15.10M | 16.69M | 12.48M | 10.27M |
| Net Cash (Debt) | -3.59M | -9.39M | -11.34M | -15.71M | -6.69M | -89.03K |
| Net Cash Per Share | -0.39 | -1.04 | -1.39 | -2.03 | -0.86 | -0.01 |
| Filing Date Shares Outstanding | 9.08M | 9.05M | 8.98M | 7.75M | 7.75M | 7.74M |
| Total Common Shares Outstanding | 9.08M | 9.05M | 8.98M | 7.75M | 7.75M | 7.74M |
| Working Capital | 16.64M | 12.97M | 10.63M | 7.27M | 10.92M | 13.73M |
| Book Value Per Share | 3.45 | 2.99 | 3.06 | 3.22 | 3.92 | 4.21 |
| Tangible Book Value | 31.28M | 26.96M | 27.40M | 24.86M | 30.23M | 32.40M |
| Tangible Book Value Per Share | 3.44 | 2.98 | 3.05 | 3.21 | 3.90 | 4.19 |
| Land | 516.87K | 516.87K | 516.87K | 516.87K | 516.87K | |
| Buildings | 20.90M | 20.89M | 20.78M | 20.05M | 19.12M | |
| Machinery | 17.96M | 22.29M | 21.99M | 20.08M | 18.26M | |
| Construction In Progress | 534.27K | 2.69M | 2.77M | 3.67M | 2.99M | |
| Order Backlog | 9.40M | 4.40M | 9.40M | 2.50M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 787.37K | -1.04M | -2.16M | -5.77M | -2.49M | -78.29K |
| Depreciation & Amortization | 2.38M | 2.73M | 2.69M | 2.72M | 2.49M | 2.46M |
| Other Amortization | 39.05K | 54.35K | 42.67K | 22.62K | 7.66K | 7.84K |
| Loss (Gain) From Sale of Assets | 104.35K | 106.35K | 15.39K | 8.10K | -7.33K | 30.96K |
| Asset Writedown & Restructuring Costs | 2.67M | 2.67M | ||||
| Stock-Based Compensation | 554.76K | 295.87K | 325.55K | 368.87K | 266.24K | 144.31K |
| Other Operating Activities | -167.97K | -284.85K | -149.74K | 95.72K | 28.48K | 10.72K |
| Change in Accounts Receivable | -518.46K | 352.12K | -1.59M | -426.78K | 935.63K | -897.43K |
| Change in Inventory | -784.04K | -2.15M | 699.22K | -1.77M | -2.95M | -997.46K |
| Change in Accounts Payable | 583.13K | -195.25K | 362.61K | 157.00K | 341.61K | 245.76K |
| Change in Other Net Operating Assets | 242.44K | -55.23K | 117.41K | -68.86K | -161.37K | 26.62K |
| Operating Cash Flow | 5.89M | 2.48M | 357.90K | -4.67M | -1.54M | 954.17K |
| Capital Expenditures | -1.68M | -1.25M | -465.73K | -1.89M | -3.98M | -2.61M |
| Sale of Property, Plant & Equipment | 16.90K | 36.13K | 4.50K | 2.47K | 11.00K | 15.29K |
| Investment in Securities | 996.00K | |||||
| Investing Cash Flow | -1.66M | -1.21M | -461.23K | -1.89M | -3.96M | -1.60M |
| Short-Term Debt Issued | 2.00M | |||||
| Long-Term Debt Issued | 801.27K | 3.00M | 2.00M | 400.00K | ||
| Total Debt Issued | 801.27K | 801.27K | 5.00M | 2.00M | 400.00K | |
| Short-Term Debt Repaid | -2.00M | |||||
| Long-Term Debt Repaid | -2.28M | -1.47M | -1.19M | -897.12K | -768.27K | |
| Total Debt Repaid | -2.32M | -2.28M | -1.47M | -3.19M | -897.12K | -768.27K |
| Net Debt Issued (Repaid) | -1.52M | -1.48M | -1.47M | 1.81M | 1.10M | -368.27K |
| Issuance of Common Stock | 164.98K | 349.33K | 4.65M | 18.76K | 30.67K | 4.24M |
| Other Financing Activities | -14.63K | -82.51K | -296.87K | -81.53K | -19.31K | 2.27K |
| Financing Cash Flow | -1.37M | -1.21M | 2.88M | 1.75M | 1.11M | 3.88M |
| Net Cash Flow | 2.86M | 48.60K | 2.78M | -4.81M | -4.39M | 3.24M |
| Free Cash Flow | 4.21M | 1.22M | -107.82K | -6.57M | -5.52M | -1.65M |
| Free Cash Flow Margin | 13.74% | 4.43% | -0.41% | -37.59% | -29.72% | -8.60% |
| Free Cash Flow Per Share | 0.46 | 0.14 | -0.01 | -0.85 | -0.71 | -0.22 |
| Levered Free Cash Flow | 3.08M | 998.36K | 773.90K | -4.51M | -4.24M | -1.64M |
| Unlevered Free Cash Flow | 3.32M | 1.25M | 1.09M | -4.23M | -4.03M | -1.45M |
| Cash Interest Paid | 400.58K | 443.02K | 528.91K | 444.95K | 338.52K | 308.68K |
| Cash Income Tax Paid | 11.10K | 10.69K | 7.29K | 6.47K | 4.92K | 5.11K |
| Change in Working Capital | -476.92K | -2.05M | -406.52K | -2.11M | -1.83M | -1.62M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 95.91M | 55.63M | 45.89M | 39.45M | 47.26M | 61.94M |
| Enterprise Value | 99.50M | 65.35M | 57.62M | 54.15M | 51.15M | 61.93M |
| Last Close Price | 10.26 | 6.15 | 5.15 | 5.09 | 6.10 | 8.00 |
| PS Ratio | 3.09 | 2.01 | 1.73 | 2.26 | 2.54 | 3.22 |
| PB Ratio | 2.97 | 2.06 | 1.67 | 1.58 | 1.55 | 1.90 |
| P/TBV Ratio | 3.03 | 2.06 | 1.68 | 1.59 | 1.56 | 1.91 |
| P/FCF Ratio | 22.45 | 45.42 | ||||
| P/OCF Ratio | 16.06 | 22.48 | 128.23 | 64.91 | ||
| EV/Sales Ratio | 3.20 | 2.36 | 2.17 | 3.10 | 2.75 | 3.22 |
| EV/EBITDA Ratio | 13.93 | 12.62 | 55.03 | 65.78 | 22.78 | |
| EV/EBIT Ratio | 21.05 | 26.68 | 240.62 | |||
| EV/FCF Ratio | 23.31 | 53.35 | ||||
| Debt / Equity Ratio | 0.40 | 0.49 | 0.55 | 0.67 | 0.41 | 0.32 |
| Debt / EBITDA Ratio | 1.66 | 2.33 | 9.80 | 12.96 | 3.57 | |
| Debt / FCF Ratio | 2.95 | 10.77 | ||||
| Net Debt / Equity Ratio | 0.11 | 0.35 | 0.41 | 0.63 | 0.22 | 0.00 |
| Net Debt / EBITDA Ratio | 0.51 | 1.81 | 10.83 | -6.28 | 8.60 | 0.03 |
| Net Debt / FCF Ratio | 0.85 | 7.66 | -105.19 | -2.39 | -1.21 | -0.05 |
| Asset Turnover | 0.66 | 0.63 | 0.60 | 0.39 | 0.42 | 0.45 |
| Inventory Turnover | 2.11 | 1.98 | 2.49 | 1.89 | 2.26 | 4.09 |
| Quick Ratio | 2.65 | 1.82 | 1.72 | 0.76 | 2.47 | 5.09 |
| Current Ratio | 4.75 | 4.26 | 3.41 | 2.73 | 4.55 | 6.42 |
| Return on Equity (ROE) | 2.57% | -3.81% | -8.21% | -20.86% | -7.92% | -0.26% |
| Return on Assets (ROA) | 6.25% | 3.49% | -2.31% | -7.36% | -2.39% | 0.38% |
| Return on Invested Capital (ROIC) | 12.29% | 6.50% | -4.12% | -13.43% | -4.90% | 0.81% |
| Return on Capital Employed (ROCE) | 11.10% | 6.40% | -4.00% | -13.20% | -4.10% | 0.60% |
| Earnings Yield | 0.71% | -1.87% | -4.70% | -14.64% | -5.28% | -0.13% |
| FCF Yield | 4.45% | 2.20% | -0.24% | -16.64% | -11.68% | -2.67% |
| Buyback Yield / Dilution | -3.49% | -10.52% | -5.42% | -0.03% | -2.01% | -5.25% |