ImmuCell Corporation (ICCC) Key Metrics
ICCC valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $97.6M
- Enterprise value
- $94.3M
- P/E (TTM)
- 153.6
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 3.2 10-yr median 2.6
- Price / book
- 2.9 10-yr median 1.6
- EV / EBITDA
- 25.8 10-yr median 47.3
- Dividend yield
- —
- Beta
- 0.57
ICCC key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsICCC valuation Price multiples at each fiscal year-end price.
Price / sales+26.5%
2.0
2025 · hover or tap a bar for each year
20162025
Price / book+34.2%
2.1
2025 · hover or tap a bar for each year
20162025
EV / EBITDA−39.4%
30.3
2025 · hover or tap a bar for each year
20162025
Free cash flow yield+2.5 pts
2.2%
2025 · hover or tap a bar for each year
20162025
ICCC returns How much profit the business earns on the capital it uses.
Return on equity+4.4 pts
−3.8%
2025 · hover or tap a bar for each year
20162025
Return on invested capital+6.7 pts
3.5%
2025 · hover or tap a bar for each year
20162025
Return on assets+2.5 pts
−2.4%
2025 · hover or tap a bar for each year
20162025
Free cash flow margin+4.8 pts
4.4%
2025 · hover or tap a bar for each year
20162025
Asset turnover+5.9%
0.63
2025 · hover or tap a bar for each year
20162025
ICCC per-share figures Results divided by the shares outstanding at year-end.
Revenue per share−5.6%
$3.06
2025 · hover or tap a bar for each year
20162025
Earnings per share
−$0.12
2025 · hover or tap a bar for each year
20162025
Free cash flow per share
$0.14
2025 · hover or tap a bar for each year
20162025
Book value per share−11.0%
$3.00
2025 · hover or tap a bar for each year
20162025
Shares outstanding+10.5%
9.0M
2025 · hover or tap a bar for each year
20162025
ICCC financial health Debt, liquidity and how easily interest is covered.
Debt / equity−11.1%
0.49
2025 · hover or tap a bar for each year
20162025
Net debt−$2.0M
$9.4M
2025 · hover or tap a bar for each year
20162025
Net debt / EBITDA−6.25
4.39
2025 · hover or tap a bar for each year
20162025
Current ratio+24.9%
4.26
2025 · hover or tap a bar for each year
20162025
Interest coverage
3.8
2025 · hover or tap a bar for each year
20162025
Debt / assets−7.3%
0.31
2025 · hover or tap a bar for each year
20162025
ICCC efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding+6 days
48 days
2025 · hover or tap a bar for each year
20162025
Days of inventory+38 days
185 days
2025 · hover or tap a bar for each year
20162025
Days payables outstanding+2 days
20 days
2025 · hover or tap a bar for each year
20162025
Cash conversion cycle+43 days
213 days
2025 · hover or tap a bar for each year
20162025
Capex / revenue+2.8 pts
4.5%
2025 · hover or tap a bar for each year
20162025
ICCC valuation history
Fiscal year-endToday10-year median
ICCC returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ICCC debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ICCC price vs earnings per share
Share price at year-endEPS (right axis)
ICCC key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $55.5M | $42.1M | $39.4M | $47.2M | $60.7M | $42.9M | $35.1M | $38.7M | $43.5M | $25.8M |
| Enterprise value | $64.9M | $53.4M | $55.1M | $53.9M | $60.8M | $45.7M | $34.8M | $45.9M | $48.7M | $18.2M |
| P/E ratio | — | — | — | — | — | — | — | — | — | 50.7 |
| Price / sales | 2.0 | 1.6 | 2.3 | 2.5 | 3.2 | 2.8 | 2.6 | 3.5 | 4.2 | 2.7 |
| Price / book | 2.1 | 1.5 | 1.6 | 1.6 | 1.9 | 1.5 | 1.2 | 1.8 | 1.8 | 1.3 |
| Price / free cash flow | 45.3 | — | — | — | — | — | — | — | — | — |
| Price / operating cash flow | 22.4 | 117.5 | — | — | 63.7 | 32.6 | 150.4 | — | 37.0 | — |
| EV / sales | 2.3 | 2.0 | 3.2 | 2.9 | 3.2 | 3.0 | 2.5 | 4.2 | 4.7 | 1.9 |
| EV / EBITDA | 30.3 | 50.1 | — | 286.0 | 22.5 | 47.3 | 26.5 | 519.0 | 73.6 | 10.6 |
| EV / free cash flow | 53.0 | — | — | — | — | — | — | — | — | — |
| Earnings yield | −1.9% | −5.1% | −14.6% | −5.3% | −0.1% | −2.4% | −3.7% | −6.0% | −0.4% | 2.0% |
| Free cash flow yield | 2.2% | −0.3% | −16.7% | −11.7% | −2.7% | −6.4% | −3.3% | −6.2% | −38.1% | −15.2% |
| Dividend yield | — | — | — | — | — | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | — | — | — | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Share price at fiscal year-end | $6.15 | $5.15 | $5.09 | $6.10 | $8.00 | $5.95 | $5.15 | $7.05 | $8.79 | $5.95 |
| Per share | ||||||||||
| Revenue per share | $3.06 | $3.24 | $2.26 | $2.40 | $2.53 | $2.13 | $2.01 | $2.00 | $2.11 | $2.20 |
| Earnings per share | −$0.12 | −$0.26 | −$0.75 | −$0.32 | −$0.01 | −$0.14 | −$0.19 | −$0.42 | −$0.03 | $0.12 |
| Operating cash flow per share | $0.27 | $0.04 | −$0.60 | −$0.20 | $0.13 | $0.18 | $0.03 | −$0.07 | $0.24 | −$0.07 |
| Free cash flow per share | $0.14 | −$0.01 | −$0.85 | −$0.71 | −$0.22 | −$0.38 | −$0.17 | −$0.44 | −$3.35 | −$0.90 |
| Cash per share | $0.42 | $0.46 | $0.13 | $0.75 | $1.34 | $1.10 | $1.29 | $0.46 | $0.77 | $2.45 |
| Book value per share | $3.00 | $3.37 | $3.23 | $3.92 | $4.29 | $3.92 | $4.25 | $3.96 | $4.77 | $4.55 |
| Tangible book value per share | $2.99 | $3.36 | $3.21 | $3.90 | $4.27 | $3.89 | $4.22 | $3.92 | $4.72 | $4.49 |
| Dividends per share | — | — | — | — | — | — | — | — | $0.00 | $0.00 |
| Capex per share | $0.14 | $0.06 | $0.24 | $0.51 | $0.34 | $0.56 | $0.20 | $0.37 | $3.59 | $0.83 |
| Debt per share | $1.46 | $1.85 | $2.15 | $1.61 | $1.35 | $1.49 | $1.24 | $1.78 | $1.81 | $0.70 |
| Shares outstanding | 9.0M | 8.2M | 7.7M | 7.7M | 7.6M | 7.2M | 6.8M | 5.5M | 4.9M | 4.3M |
| Change in shares outstanding | +10.5% | +5.4% | +0.0% | +2.0% | +5.3% | +5.8% | +24.3% | +10.9% | +14.1% | +37.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −3.8% | −8.2% | −20.9% | −7.9% | −0.3% | −3.6% | −5.1% | −10.2% | −0.8% | 3.4% |
| Return on invested capital (ROIC) | 3.5% | −3.3% | −11.7% | −5.2% | 0.6% | −3.7% | −2.6% | −4.0% | −0.9% | 6.0% |
| Return on assets (ROA) | −2.4% | −4.9% | −13.0% | −5.6% | −0.2% | −2.6% | −3.6% | −6.9% | −0.6% | 2.6% |
| Return on tangible assets | −2.5% | −4.8% | −13.2% | −5.6% | −0.2% | −2.5% | −3.4% | −7.1% | −0.5% | 2.1% |
| Free cash flow margin | 4.4% | −0.4% | −37.6% | −29.7% | −8.6% | −18.0% | −8.4% | −21.9% | −159.0% | −41.0% |
| Income quality (OCF / net income) | — | — | — | — | — | — | — | — | — | −0.64 |
| Financial health | ||||||||||
| Total debt | $13.2M | $15.1M | $16.7M | $12.5M | $10.3M | $10.7M | $8.4M | $9.8M | $9.0M | $3.0M |
| Cash & short-term investments | $3.8M | $3.8M | $978,741 | $5.8M | $10.2M | $7.9M | $8.8M | $2.5M | $3.8M | $10.6M |
| Net debt | $9.4M | $11.3M | $15.7M | $6.7M | $89,498 | $2.8M | −$352,580 | $7.2M | $5.2M | −$7.6M |
| Debt / equity | 0.49 | 0.55 | 0.67 | 0.41 | 0.32 | 0.38 | 0.29 | 0.45 | 0.38 | 0.15 |
| Debt / assets | 0.31 | 0.33 | 0.38 | 0.28 | 0.23 | 0.27 | 0.22 | 0.30 | 0.26 | 0.12 |
| Net debt / EBITDA | 4.39 | 10.63 | — | 35.46 | 0.03 | 2.88 | −0.27 | 81.92 | 7.80 | −4.40 |
| Current ratio | 4.26 | 3.41 | 2.73 | 4.56 | 6.42 | 5.50 | 5.29 | 2.50 | 3.64 | 6.97 |
| Quick ratio | 1.93 | 1.80 | 0.87 | 2.59 | 5.20 | 4.55 | 4.28 | 1.59 | 2.64 | 5.94 |
| Interest coverage | 3.8 | -2.9 | -12.7 | -6.7 | 0.8 | -3.3 | -2.2 | -3.4 | -1.1 | 5.5 |
| Working capital | $13.0M | $10.6M | $7.3M | $10.9M | $13.7M | $9.9M | $10.7M | $3.9M | $5.4M | $12.3M |
| Invested capital | $36.4M | $38.9M | $40.7M | $37.1M | $32.7M | $31.1M | $28.6M | $29.0M | $28.8M | $12.1M |
| Tangible asset value | $27.0M | $27.4M | $24.9M | $30.2M | $32.4M | $28.1M | $28.8M | $21.5M | $23.3M | $19.5M |
| Net current asset value | $1.5M | −$2.5M | −$7.3M | −$486,244 | $4.4M | $73,008 | $3.5M | −$4.6M | −$3.2M | $9.4M |
| Graham number | — | — | — | — | — | — | — | — | — | $3.46 |
| Graham net-net per share | −$0.50 | −$0.91 | −$1.59 | −$0.56 | $0.25 | −$0.23 | $0.23 | −$1.14 | −$0.96 | $1.74 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share buybacks (net) | — | — | — | — | — | $0 | $0 | $0 | $0 | $0 |
| Dividend payout ratio | — | — | — | — | — | — | — | — | — | 0.0% |
| Capex / revenue | 4.5% | 1.8% | 10.8% | 21.4% | 13.6% | 26.5% | 10.1% | 18.5% | 170.3% | 37.6% |
| Capex / operating cash flow | 50.5% | 130.1% | — | — | 273.4% | 309.6% | 595.9% | — | 1,510.4% | — |
| Capex / depreciation | 0.46 | 0.17 | 0.70 | 1.60 | 1.06 | 1.74 | 0.61 | 1.33 | 19.64 | 4.47 |
| Stock-based compensation / revenue | 1.1% | 1.2% | 2.1% | 1.4% | 0.7% | 1.6% | 2.3% | 3.1% | 1.9% | 0.7% |
| R&D / revenue | 11.0% | 14.7% | 25.2% | 24.2% | 21.7% | 28.4% | 26.9% | 32.0% | 19.6% | 13.0% |
| SG&A / revenue | 24.4% | 21.4% | 29.9% | 12.2% | 22.0% | 11.2% | 12.3% | 34.8% | 14.6% | 34.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 47.7 | 41.3 | 41.6 | 44.4 | 43.5 | 42.1 | 41.3 | 48.5 | 46.0 | 36.2 |
| Days of inventory on hand | 184.5 | 146.8 | 193.3 | 152.6 | 89.3 | 99.2 | 126.8 | 138.1 | 146.3 | 132.7 |
| Days payables outstanding | 19.6 | 18.0 | 23.4 | 25.7 | 23.2 | 25.3 | 30.7 | 57.5 | 95.6 | 75.6 |
| Cash conversion cycle (days) | 212.7 | 170.1 | 211.5 | 171.4 | 109.6 | 116.1 | 137.3 | 129.0 | 96.7 | 93.2 |
| Receivables turnover | 7.65 | 8.84 | 8.77 | 8.21 | 8.39 | 8.66 | 8.84 | 7.53 | 7.93 | 10.09 |
| Payables turnover | 18.62 | 20.26 | 15.59 | 14.23 | 15.71 | 14.44 | 11.88 | 6.35 | 3.82 | 4.83 |
| Inventory turnover | 1.98 | 2.49 | 1.89 | 2.39 | 4.09 | 3.68 | 2.88 | 2.64 | 2.49 | 2.75 |
| Asset turnover | 0.63 | 0.60 | 0.39 | 0.42 | 0.45 | 0.39 | 0.38 | 0.33 | 0.35 | 0.49 |
| Average receivables | $3.6M | $3.0M | $2.0M | $2.3M | $2.3M | $1.8M | $1.6M | $1.5M | $1.3M | $945,671 |
| Average payables | $869,962 | $915,685 | $838,865 | $767,520 | $673,696 | $587,262 | $587,960 | $912,794 | $1.4M | $853,937 |
| Average inventory | $8.2M | $7.5M | $6.9M | $4.6M | $2.6M | $2.3M | $2.4M | $2.2M | $2.1M | $1.5M |
| Intangibles / total assets | 0.2% | 0.3% | 0.3% | 0.3% | 0.4% | 0.5% | 0.5% | 0.7% | 0.7% | 1.1% |
Computed from ICCC's annual financial statements (latest annual report filed March 30, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ICCC valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 153.6. ImmuCell earned a return on equity of −3.8% and a return on invested capital of 3.5% in fiscal 2025. It ended the year with $13.2 million of debt and $3.8 million in cash and short-term investments, net debt of $9.4 million. The share count rose 108.2% from 4.3M to 9.0M over 9 years.
See the ICCC income statement, the ICCC chart for price history, or the ICCC stock overview for the latest quote and news.
ICCC key metrics FAQ
What is ImmuCell's P/E ratio?
ImmuCell's trailing P/E ratio is 153.6 based on the last twelve months of earnings (as of October 18, 2026). At the end of fiscal 2025 it was —.
What is ImmuCell's EV/EBITDA?
ImmuCell's enterprise value was 30.3 times EBITDA at the end of fiscal 2025 (enterprise value $64.9 million, EBITDA $2.1 million); the current EV/EBITDA is 25.8.
What is ImmuCell's return on equity?
ImmuCell's return on equity (ROE) was −3.8% in fiscal 2025: net income of -$1.0 million on average shareholders' equity of $27.3 million.
What is ImmuCell's ROIC?
ImmuCell's return on invested capital was 3.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does ImmuCell have?
ImmuCell had total debt of $13.2 million at the end of fiscal 2025, a debt-to-equity ratio of 0.49 and $9.4 million of net debt (4.39 times EBITDA).
What is ImmuCell's free cash flow yield?
ImmuCell generated $1.2 million of free cash flow in fiscal 2025, a free cash flow yield of 2.2% on its market value at year-end ($55.5 million).
What is ImmuCell's current ratio?
ImmuCell's current ratio was 4.26 at the end of fiscal 2025: current assets were 4.26 times current liabilities.