Immunocore Holdings plc (IMCR) Key Metrics
IMCR valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.51B
- Enterprise value
- $1.18B
- P/E (TTM)
- —
- Forward P/E
- 23.8
- PEG ratio
- —
- Price / sales
- 3.5
- Price / book
- 3.9
- EV / EBITDA
- 90.5
- Dividend yield
- —
- Beta
- 0.81
IMCR key metrics, 2015–2025
Fiscal year ended December 31, 2025 · U.S. dollarsIMCR valuation Price multiples at each fiscal year-end price.
IMCR returns How much profit the business earns on the capital it uses.
IMCR per-share figures Results divided by the shares outstanding at year-end.
IMCR financial health Debt, liquidity and how easily interest is covered.
IMCR efficiency & capital use Working capital cycle and where the cash goes.
IMCR valuation history
IMCR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
IMCR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
IMCR price vs earnings per share
IMCR key metrics
2015–2025| 2025 | 2024 | 2015 | |
|---|---|---|---|
| Valuation | |||
| Market capitalization | $1.75B | $1.47B | — |
| Enterprise value | $1.32B | $1.09B | — |
| Price / sales | 5.9 | 5.9 | — |
| Price / book | 4.6 | 4.1 | — |
| Price / free cash flow | — | 70.6 | — |
| Price / operating cash flow | — | 56.6 | — |
| EV / sales | 4.4 | 4.4 | — |
| EV / free cash flow | — | 52.0 | — |
| Earnings yield | −1.5% | −2.8% | — |
| Free cash flow yield | −0.6% | 1.4% | — |
| Share price at fiscal year-end | $34.71 | $29.50 | — |
| Per share | |||
| Revenue per share | $5.91 | $4.96 | — |
| Earnings per share | −$0.52 | −$0.82 | — |
| Operating cash flow per share | −$0.16 | $0.52 | — |
| Free cash flow per share | −$0.22 | $0.42 | — |
| Cash per share | $17.16 | $16.41 | — |
| Book value per share | $7.57 | $7.22 | — |
| Tangible book value per share | $7.57 | $7.22 | — |
| Capex per share | $0.06 | $0.10 | — |
| Debt per share | $8.67 | $8.66 | — |
| Shares outstanding | 50.3M | 50.0M | — |
| Change in shares outstanding | +0.7% | — | — |
| Returns & profitability | |||
| Return on equity (ROE) | −7.1% | −11.3% | 6.3% |
| Return on assets (ROA) | −2.5% | −4.0% | 4.9% |
| Return on tangible assets | −2.5% | −4.0% | 4.9% |
| Free cash flow margin | −3.8% | 8.4% | −207.0% |
| Income quality (OCF / net income) | — | — | −1.33 |
| Financial health | |||
| Total debt | $436.7M | $432.7M | — |
| Cash & short-term investments | $864.2M | $820.4M | $220.0M |
| Net debt | −$427.5M | −$387.7M | −$220.0M |
| Debt / equity | 1.15 | 1.20 | — |
| Debt / assets | 0.41 | 0.43 | — |
| Current ratio | 4.04 | 4.38 | 10.12 |
| Quick ratio | 4.01 | 4.36 | 10.12 |
| Interest coverage | -2.8 | -3.0 | — |
| Working capital | $750.0M | $717.7M | $206.3M |
| Invested capital | −$46.4M | −$26.9M | −$5.5M |
| Tangible asset value | $381.0M | $360.7M | $214.4M |
| Net current asset value | $310.5M | $281.1M | $169.9M |
| Graham net-net per share | $4.70 | $4.73 | — |
| Capital allocation | |||
| Capex / revenue | 1.1% | 2.1% | 50.6% |
| Capex / operating cash flow | — | 19.8% | — |
| Capex / depreciation | 1.33 | 1.23 | 4.27 |
| Stock-based compensation / revenue | 12.7% | 13.8% | 12.9% |
| R&D / revenue | 68.7% | 71.6% | 193.1% |
| SG&A / revenue | 55.6% | 62.8% | 26.1% |
| Efficiency | |||
| Days sales outstanding | 96.3 | 122.3 | 5.9 |
| Days of inventory on hand | 358.0 | 358.5 | — |
| Days payables outstanding | 1,452.8 | 1,652.5 | — |
| Cash conversion cycle (days) | -998.5 | -1,171.6 | — |
| Receivables turnover | 3.79 | 2.98 | 61.53 |
| Payables turnover | 0.25 | 0.22 | 0.00 |
| Inventory turnover | 1.02 | 1.02 | — |
| Asset turnover | 0.29 | 0.25 | 0.04 |
| Average receivables | $78.5M | $83.1M | $186,210 |
| Average payables | $24.7M | $25.1M | $3.6M |
| Average inventory | $6.1M | $5.4M | — |
| Intangibles / total assets | 0.0% | 0.0% | 0.1% |
Computed from IMCR's annual financial statements (latest annual report filed February 25, 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.
IMCR valuation and financial ratios
Immunocore earned a return on equity of −7.1% in fiscal 2025. It ended the year with $436.7 million of debt and $864.2 million in cash and short-term investments, a net cash position of $427.5 million.
See the IMCR income statement, the IMCR chart for price history, or the IMCR stock overview for the latest quote and news.
IMCR key metrics FAQ
What is Immunocore's return on equity?
Immunocore's return on equity (ROE) was −7.1% in fiscal 2025: net income of -$26.4 million on average shareholders' equity of $370.9 million.
How much debt does Immunocore have?
Immunocore had total debt of $436.7 million at the end of fiscal 2025, a debt-to-equity ratio of 1.15 and more cash than debt.
What is Immunocore's free cash flow yield?
Immunocore generated -$11.2 million of free cash flow in fiscal 2025, a free cash flow yield of −0.6% on its market value at year-end ($1.7 billion).
What is Immunocore's current ratio?
Immunocore's current ratio was 4.04 at the end of fiscal 2025: current assets were 4.04 times current liabilities.