AC Immune SA (ACIU) Key Metrics
ACIU key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Swiss francsACIU returns How much profit the business earns on the capital it uses.
ACIU financial health Debt, liquidity and how easily interest is covered.
ACIU efficiency & capital use Working capital cycle and where the cash goes.
ACIU returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ACIU debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ACIU cash returned to shareholders
ACIU key metrics in Swiss francs
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −89.6% | −37.3% | −32.9% | −35.3% | −32.6% | −25.4% | 20.2% | −34.6% | −20.4% | −6.6% |
| Return on invested capital (ROIC) | — | — | −76.8% | −130.3% | −438.3% | — | — | — | — | — |
| Return on assets (ROA) | −36.6% | −24.6% | −29.4% | −31.6% | −29.2% | −23.0% | 18.3% | −31.0% | −18.3% | −6.0% |
| Return on tangible assets | −67.8% | −28.2% | −41.0% | −52.2% | −34.6% | −25.9% | 15.2% | −25.9% | −20.0% | −4.5% |
| Free cash flow margin | — | 239.0% | −413.5% | — | — | −396.8% | 48.3% | −638.5% | −118.0% | −28.2% |
| Income quality (OCF / net income) | — | — | — | — | — | — | 1.22 | — | — | — |
| Financial health | ||||||||||
| Total debt | CHF 4.5M | CHF 5.4M | CHF 3.5M | CHF 2.8M | CHF 2.9M | CHF 2.2M | CHF 2.9M | CHF 551,838 | CHF 498,380 | CHF 0 |
| Cash & short-term investments | CHF 91.4M | CHF 165.5M | CHF 103.0M | CHF 122.6M | CHF 198.2M | CHF 225.9M | CHF 288.6M | CHF 186.5M | CHF 124.4M | CHF 152.2M |
| Net debt | −CHF 86.9M | −CHF 160.1M | −CHF 99.6M | −CHF 119.8M | −CHF 195.3M | −CHF 223.7M | −CHF 285.7M | −CHF 185.9M | −CHF 123.9M | −CHF 152.2M |
| Debt / equity | 0.10 | 0.05 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 |
| Debt / assets | 0.03 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 |
| Net debt / EBITDA | — | — | — | — | — | — | −6.18 | — | — | — |
| Current ratio | 1.02 | 1.71 | 9.22 | 11.16 | 10.12 | 16.53 | 16.72 | 14.75 | 13.28 | 15.61 |
| Quick ratio | 1.02 | 1.71 | 9.26 | 11.16 | 10.19 | 16.67 | 16.80 | 14.75 | 13.42 | 15.57 |
| Interest coverage | -360.5 | -393.8 | -304.7 | -199.6 | -136.0 | -332.9 | 23.1 | -148.4 | -153.3 | -40.8 |
| Working capital | CHF 2.0M | CHF 71.2M | CHF 111.6M | CHF 116.6M | CHF 182.6M | CHF 217.7M | CHF 275.3M | CHF 179.8M | CHF 119.8M | CHF 145.0M |
| Invested capital | −CHF 41.9M | −CHF 47.8M | CHF 61.1M | CHF 49.2M | CHF 36.7M | −CHF 8.2M | −CHF 13.2M | −CHF 8.3M | −CHF 7.0M | −CHF 9.8M |
| Tangible asset value | −CHF 5.5M | CHF 61.9M | CHF 110.2M | CHF 118.6M | CHF 181.6M | CHF 215.5M | CHF 272.4M | CHF 177.6M | CHF 116.8M | CHF 142.4M |
| Net current asset value | −CHF 12.7M | CHF 53.4M | CHF 103.0M | CHF 111.1M | CHF 173.2M | CHF 208.5M | CHF 266.0M | CHF 174.0M | CHF 114.4M | CHF 141.2M |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | CHF 7,000 | — | — | CHF 0 | CHF 0 | CHF 0 | CHF 0 |
| Share buybacks (net) | — | — | — | CHF 8,000 | CHF 0 | CHF 100,000 | CHF 0 | CHF 0 | CHF 0 | CHF 0 |
| Dividend payout ratio | — | — | — | — | — | — | 0.0% | — | — | — |
| Dividends + buybacks / free cash flow | — | — | — | — | — | — | 0.0% | — | — | — |
| Capex / revenue | 24.1% | 2.1% | 5.4% | 31.5% | 279.1% | 11.1% | 1.7% | 25.8% | 8.9% | 3.9% |
| Capex / operating cash flow | — | 0.9% | — | — | — | — | 3.4% | — | — | — |
| Capex / depreciation | 0.34 | 0.27 | 0.36 | 0.53 | 1.10 | 0.87 | 1.11 | 1.93 | 3.11 | 3.23 |
| Stock-based compensation / revenue | 123.0% | 20.0% | 29.5% | 84.6% | 437.1% | 26.5% | 2.6% | 35.0% | 7.8% | 5.7% |
| R&D / revenue | 1,579.5% | 229.1% | 368.9% | 1,533.3% | 6,597.7% | 385.5% | 45.7% | 615.5% | 161.3% | 111.0% |
| SG&A / revenue | 326.1% | 41.9% | 71.5% | 243.5% | 1,152.4% | 120.3% | 14.5% | 105.1% | 31.0% | 20.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 124.5 | 107.9 | 190.6 | 64.1 | 496.1 | 35.4 | 9.1 | 198.4 | 46.2 | 13.5 |
| Days of inventory on hand | — | — | -2.1 | -4.2 | -9.7 | -10.2 | -5.1 | — | -5.4 | 20.2 |
| Days payables outstanding | — | 12.6 | 8.7 | 8.9 | 12.3 | 7.1 | 7.7 | 12.7 | 28.6 | 40.7 |
| Cash conversion cycle (days) | — | 95.2 | 179.8 | 51.0 | 474.1 | 18.0 | -3.6 | 180.1 | 12.1 | -7.0 |
| Receivables turnover | 2.93 | 3.38 | 1.92 | 5.69 | 0.74 | 10.32 | 40.16 | 1.84 | 7.91 | 26.96 |
| Payables turnover | 0.00 | 28.85 | 41.88 | 41.16 | 29.75 | 51.15 | 47.55 | 28.84 | 12.74 | 8.96 |
| Inventory turnover | — | — | — | — | — | — | — | — | — | 18.09 |
| Asset turnover | 0.02 | 0.13 | 0.08 | 0.02 | 0.00 | 0.06 | 0.45 | 0.04 | 0.14 | 0.20 |
| Average receivables | CHF 1.2M | CHF 8.1M | CHF 7.7M | CHF 691,500 | CHF 1.3M | CHF 1.5M | CHF 2.8M | CHF 3.9M | CHF 2.6M | CHF 861,000 |
| Average payables | CHF 2.4M | CHF 2.2M | CHF 1.3M | CHF 1.5M | CHF 2.1M | CHF 1.2M | CHF 1.1M | CHF 1.5M | CHF 2.6M | CHF 2.9M |
| Average inventory | — | — | −CHF 311,000 | −CHF 701,500 | −CHF 1.7M | −CHF 1.7M | −CHF 699,500 | −CHF 679,500 | −CHF 485,000 | CHF 1.4M |
| Intangibles / total assets | 32.7% | 21.8% | 27.6% | 27.1% | 19.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from ACIU's annual financial statements (latest annual report filed March 13, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Swiss francs; data from EODHD. Averages use the opening and closing balance of each year.
ACIU valuation and financial ratios
AC Immune earned a return on equity of −89.6% in fiscal 2025. It ended the year with CHF 4.5 million of debt and CHF 91.4 million in cash and short-term investments, a net cash position of CHF 86.9 million.
See the ACIU income statement, the ACIU chart for price history, or the ACIU stock overview for the latest quote and news.
ACIU key metrics FAQ
What is AC Immune's return on equity?
AC Immune's return on equity (ROE) was −89.6% in fiscal 2025: net income of -CHF 70.4 million on average shareholders' equity of CHF 78.6 million.
How much debt does AC Immune have?
AC Immune had total debt of CHF 4.5 million at the end of fiscal 2025, a debt-to-equity ratio of 0.10 and more cash than debt.
What is AC Immune's current ratio?
AC Immune's current ratio was 1.02 at the end of fiscal 2025: current assets were 1.02 times current liabilities.