NASDAQ : IMCR
Immunocore Holdings plc — Financial statements
Healthcare · Biotechnology · United Kingdom
Last price 30.49 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.57B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Immunocore Holdings plc (IMCR) reported revenue of 430.77M 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 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 430.77M | 400.02M | 310.20M | 249.43M | 174.36M | 36.48M |
| Revenue | 430.77M | 400.02M | 310.20M | 249.43M | 174.36M | 36.48M |
| Cost of Revenue | 289.19M | 279.96M | 224.88M | 164.58M | 6.40M | 100.25M |
| Gross Profit | 141.59M | 120.06M | 85.32M | 84.85M | 167.96M | -63.76M |
| Selling, General & Admin | 164.16M | 165.41M | 155.78M | 144.50M | 123.06M | 110.82M |
| Research & Development | 96.61M | |||||
| Other Operating Expenses | -19.73M | -19.73M | -18.05M | 897.00K | -7.00K | 73.00K |
| Operating Expenses | 144.44M | 145.69M | 137.73M | 145.39M | 219.66M | 110.90M |
| Operating Income | -2.85M | -25.62M | -52.41M | -60.55M | -51.70M | -174.66M |
| Interest Expense | -12.21M | -12.17M | -18.84M | -5.15M | -5.41M | -5.57M |
| Interest & Investment Income | 15.03M | 16.48M | 25.62M | 17.99M | 3.76M | 65.00K |
| Currency Exchange Gain (Loss) | 2.61M | 2.21M | -3.45M | -13.18M | 14.16M | 289.00K |
| EBT Excluding Unusual Items | 2.58M | -19.10M | -49.08M | -60.89M | -39.20M | -179.88M |
| Gain (Loss) on Sale of Investments | -5.32M | |||||
| Other Unusual Items | -3.85M | -1.69M | ||||
| Pretax Income | -2.73M | -19.10M | -52.94M | -60.89M | -40.88M | -179.88M |
| Income Tax Expense | 15.34M | 16.41M | -1.85M | -5.60M | 11.66M | 150.00K |
| Net Income | -18.07M | -35.51M | -51.09M | -55.29M | -52.54M | -180.03M |
| Net Income to Common | -18.07M | -35.51M | -51.09M | -55.29M | -52.54M | -180.03M |
| Shares Outstanding (Basic) | 50.68M | 50.35M | 49.99M | 48.89M | 45.71M | 42.49M |
| Shares Outstanding (Diluted) | 50.68M | 50.35M | 49.99M | 48.89M | 45.71M | 42.49M |
| EPS (Basic) | -0.36 | -0.71 | -1.02 | -1.13 | -1.15 | -4.24 |
| EPS (Diluted) | -0.36 | -0.71 | -1.02 | -1.13 | -1.15 | -4.24 |
| Free Cash Flow | -41.15M | -15.05M | 20.89M | -2.48M | -51.41M | -144.49M |
| Free Cash Flow Per Share | -0.81 | -0.30 | 0.42 | -0.05 | -1.12 | -3.40 |
| Gross Margin | 32.87% | 30.01% | 27.51% | 34.02% | 96.33% | -174.77% |
| Operating Margin | -0.66% | -6.41% | -16.89% | -24.27% | -29.65% | -478.73% |
| Profit Margin | -4.20% | -8.88% | -16.47% | -22.17% | -30.14% | -493.45% |
| Free Cash Flow Margin | -9.55% | -3.76% | 6.73% | -1.00% | -29.49% | -396.04% |
| EBITDA | 756.00K | -22.36M | -48.21M | -56.46M | -46.37M | -167.07M |
| EBITDA Margin | 0.18% | -5.59% | -15.54% | -22.63% | -26.59% | |
| D&A For EBITDA | 3.61M | 3.27M | 4.20M | 4.09M | 5.33M | 7.59M |
| EBIT | -2.85M | -25.62M | -52.41M | -60.55M | -51.70M | -174.66M |
| EBIT Margin | -0.66% | -6.41% | -16.89% | -24.27% | -29.65% | |
| Revenue as Reported | 430.77M | 400.02M | 310.20M | 249.43M | 174.36M | 36.48M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 484.92M | 467.71M | 455.73M | 442.63M | 402.47M | 322.11M |
| Short-Term Investments | 395.29M | 396.44M | 364.64M | |||
| Cash & Short-Term Investments | 880.21M | 864.15M | 820.38M | 442.63M | 402.47M | 322.11M |
| Accounts Receivable | 95.35M | 73.98M | 63.01M | 52.09M | 33.58M | 8.19M |
| Other Receivables | 27.14M | 20.09M | 9.34M | 23.50M | 15.03M | |
| Receivables | 95.35M | 101.12M | 83.10M | 61.44M | 57.08M | 23.22M |
| Inventory | 7.79M | 6.74M | 5.45M | 4.50M | 692.00K | |
| Prepaid Expenses | 67.69M | 17.98M | 13.05M | 10.55M | 10.11M | 10.41M |
| Other Current Assets | 6.75M | 7.90M | 9.71M | 3.62M | ||
| Total Current Assets | 1.05B | 996.74M | 929.86M | 528.82M | 473.98M | 355.75M |
| Property, Plant & Equipment | 49.88M | 50.24M | 47.73M | 42.73M | 38.78M | 42.70M |
| Long-Term Deferred Tax Assets | 14.79M | 10.97M | 5.12M | 3.49M | ||
| Other Long-Term Assets | 18.50M | 20.28M | 17.12M | 14.47M | 8.89M | 6.68M |
| Total Assets | 1.12B | 1.07B | 1.01B | 597.00M | 526.76M | 408.62M |
| Accounts Payable | 26.32M | 24.36M | 25.10M | 17.80M | 14.45M | 10.15M |
| Accrued Expenses | 196.78M | 202.60M | 180.77M | 115.48M | 73.09M | 37.11M |
| Current Portion of Leases | 1.91M | 2.01M | 1.55M | 1.39M | 1.88M | 1.70M |
| Current Income Taxes Payable | 1.12M | 720.36K | ||||
| Current Unearned Revenue | 573.00K | 583.00K | 7.76M | 33.11M | ||
| Other Current Liabilities | 9.62M | 17.14M | 4.76M | 4.36M | 2.54M | 52.81K |
| Total Current Liabilities | 235.20M | 246.70M | 212.18M | 139.02M | 100.83M | 82.84M |
| Long-Term Debt | 394.21M | 393.12M | 391.01M | 48.01M | 47.81M | 50.41M |
| Long-Term Leases | 38.85M | 41.56M | 40.16M | 35.61M | 31.76M | 34.33M |
| Long-Term Unearned Revenue | 4.49M | 4.86M | 5.43M | 5.51M | 5.24M | 8.68M |
| Other Long-Term Liabilities | 26.88M | 2.21M | 77.18K | |||
| Total Liabilities | 699.62M | 686.24M | 648.79M | 228.16M | 187.86M | 176.33M |
| Common Stock | 138.00K | 136.00K | 135.00K | 134.00K | 129.00K | 119.16K |
| Additional Paid-In Capital | 1.27B | 1.24B | 1.19B | 1.15B | 1.08B | 287.38M |
| Retained Earnings | -819.11M | -831.27M | -795.76M | -744.67M | -689.39M | -651.83M |
| Comprehensive Income & Other | -34.33M | -28.08M | -33.76M | -36.26M | -54.67M | 596.62M |
| Shareholders' Equity | 419.80M | 381.03M | 360.72M | 368.84M | 338.90M | 232.28M |
| Total Liabilities & Equity | 1.12B | 1.07B | 1.01B | 597.00M | 526.76M | 408.62M |
| Total Debt | 434.96M | 436.69M | 432.72M | 85.01M | 81.45M | 86.44M |
| Net Cash (Debt) | 445.25M | 427.47M | 387.65M | 357.62M | 321.02M | 235.67M |
| Net Cash Per Share | 8.78 | 8.49 | 7.75 | 7.31 | 7.02 | 5.55 |
| Filing Date Shares Outstanding | 51.50M | 50.70M | 50.07M | 49.82M | 48.12M | 43.86M |
| Total Common Shares Outstanding | 51.48M | 50.69M | 50.06M | 49.73M | 48.09M | 43.86M |
| Working Capital | 815.85M | 750.04M | 717.68M | 389.80M | 373.14M | 272.91M |
| Book Value Per Share | 8.15 | 7.52 | 7.20 | 7.42 | 7.05 | 5.30 |
| Tangible Book Value | 419.80M | 381.03M | 360.72M | 368.84M | 338.90M | 232.28M |
| Tangible Book Value Per Share | 8.15 | 7.52 | 7.20 | 7.42 | 7.05 | 5.30 |
| Machinery | 48.71M | 43.92M | 41.46M | 33.98M | 36.29M | |
| Construction In Progress | 1.13M | 477.00K | 46.00K | 431.00K | 21.66K | |
| Leasehold Improvements | 22.42M | 21.02M | 20.02M | 19.09M | 21.18M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -18.07M | -35.51M | -51.09M | -55.29M | -52.54M | -180.03M |
| Depreciation & Amortization | 3.61M | 3.27M | 4.20M | 4.09M | 5.33M | 7.59M |
| Loss (Gain) From Sale of Investments | -14.41M | -19.73M | -14.58M | |||
| Stock-Based Compensation | 33.88M | 37.70M | 34.19M | 32.47M | 32.89M | 48.89M |
| Other Operating Activities | 10.95M | 12.87M | 4.38M | 10.04M | -10.72M | 2.40M |
| Change in Accounts Receivable | -26.55M | -7.34M | -12.35M | -17.87M | -26.26M | -4.86M |
| Change in Accounts Payable | 2.30M | -2.46M | 7.27M | 2.62M | 4.91M | 1.47M |
| Change in Unearned Revenue | -582.00K | -387.00K | -1.00K | -8.01M | -25.50M | -29.07M |
| Change in Other Net Operating Assets | -26.08M | 879.00K | 54.03M | 34.88M | 22.69M | 10.50M |
| Operating Cash Flow | -34.96M | -10.71M | 26.06M | 2.94M | -49.21M | -143.11M |
| Capital Expenditures | -6.20M | -4.34M | -5.17M | -5.42M | -2.20M | -1.39M |
| Sale of Property, Plant & Equipment | 44.00K | 6.00K | 106.00K | |||
| Investment in Securities | 14.00M | -12.00M | -350.00M | |||
| Investing Cash Flow | 7.80M | -16.34M | -355.13M | -5.42M | -2.20M | -1.28M |
| Long-Term Debt Issued | 402.50M | 50.00M | ||||
| Long-Term Debt Repaid | -52.06M | -52.00M | ||||
| Net Debt Issued (Repaid) | 350.44M | -2.00M | ||||
| Issuance of Common Stock | 23.29M | 12.37M | 6.80M | 34.35M | 149.21M | 288.19M |
| Other Financing Activities | -13.36M | -1.77M | ||||
| Financing Cash Flow | 23.29M | 12.37M | 343.88M | 34.35M | 145.44M | 288.19M |
| Foreign Exchange Rate Adjustments | 849.00K | 26.66M | -1.71M | 8.29M | -12.65M | 625.00K |
| Net Cash Flow | -3.01M | 11.98M | 13.11M | 40.15M | 81.39M | 144.42M |
| Free Cash Flow | -41.15M | -15.05M | 20.89M | -2.48M | -51.41M | -144.49M |
| Free Cash Flow Margin | -9.55% | -3.76% | 6.73% | -1.00% | -29.49% | -396.04% |
| Free Cash Flow Per Share | -0.81 | -0.30 | 0.42 | -0.05 | -1.12 | -3.40 |
| Levered Free Cash Flow | 35.59M | 23.96M | 38.39M | 14.06M | -19.73M | -50.31M |
| Unlevered Free Cash Flow | 43.22M | 31.56M | 50.17M | 17.28M | -16.35M | -46.83M |
| Free Cash Flow After Leases | -41.15M | -15.05M | 20.89M | -2.48M | -51.41M | -144.49M |
| Cash Income Tax Paid | 3.89M | 4.64M | 510.00K | 977.00K | 765.00K | -17.04M |
| Change in Working Capital | -50.90M | -9.30M | 48.95M | 11.62M | -24.16M | -21.96M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.57B | 1.75B | 1.48B | 3.38B | 2.73B | 1.50B |
| Enterprise Value | 1.12B | 1.30B | 1.06B | 3.02B | 2.43B | 1.24B |
| Last Close Price | 30.49 | 34.71 | 29.50 | 68.32 | 57.07 | 34.24 |
| PS Ratio | 3.65 | 4.38 | 4.76 | 13.54 | 15.68 | 41.15 |
| PB Ratio | 3.74 | 4.60 | 4.09 | 9.16 | 8.07 | 6.46 |
| P/TBV Ratio | 3.74 | 4.60 | 4.09 | 9.16 | 8.07 | 6.46 |
| P/FCF Ratio | 70.66 | |||||
| P/OCF Ratio | 56.63 | 1,148.85 | ||||
| EV/Sales Ratio | 2.61 | 3.24 | 3.40 | 12.11 | 13.93 | 34.05 |
| EV/FCF Ratio | 50.54 | |||||
| Debt / Equity Ratio | 1.04 | 1.15 | 1.20 | 0.23 | 0.24 | 0.37 |
| Debt / FCF Ratio | 20.72 | |||||
| Net Debt / Equity Ratio | -1.06 | -1.12 | -1.07 | -0.97 | -0.95 | -1.01 |
| Net Debt / EBITDA Ratio | -588.96 | 19.12 | 8.04 | 6.33 | 6.92 | 1.41 |
| Net Debt / FCF Ratio | 10.82 | 28.40 | -18.56 | 143.91 | 6.24 | 1.63 |
| Asset Turnover | 0.39 | 0.39 | 0.39 | 0.44 | 0.37 | 0.11 |
| Inventory Turnover | 43.66 | 45.94 | 45.22 | 63.39 | ||
| Quick Ratio | 4.15 | 3.91 | 4.26 | 3.63 | 4.56 | 4.17 |
| Current Ratio | 4.47 | 4.04 | 4.38 | 3.80 | 4.70 | 4.29 |
| Return on Equity (ROE) | -4.47% | -9.58% | -14.01% | -15.62% | -18.40% | -117.20% |
| Return on Assets (ROA) | -0.16% | -1.54% | -4.08% | -6.73% | -6.91% | -32.31% |
| Return on Capital Employed (ROCE) | -0.30% | -3.10% | -6.60% | -13.20% | -12.10% | -53.60% |
| Earnings Yield | -1.17% | -2.02% | -3.46% | -1.64% | -1.92% | -11.99% |
| FCF Yield | -2.62% | -0.86% | 1.42% | -0.07% | -1.88% | -9.62% |
| Buyback Yield / Dilution | -1.14% | -0.71% | -2.25% | -6.94% | -7.59% | -60.19% |