📊 IMCR Key Takeaways
Is Immunocore Holdings plc (IMCR) a Good Investment?
Immunocore demonstrates strong revenue growth (+29% YoY) with significantly improving losses (-30.5% improvement), but persistent operating cash burn and negative profitability create execution risk. Adequate cash reserves ($467.7M) provide runway, yet achievement of near-term profitability is critical to justify leverage and operational model.
Immunocore is growing revenue at a strong 29% YoY while trending toward breakeven with narrowing net losses and modest cash burn. A robust liquidity position (4.0x current ratio, ~$468M cash) provides runway to improve margins despite elevated leverage and negative interest coverage. If growth persists and operating efficiency improves, fundamentals support continued improvement toward sustainable profitability.
Why Buy Immunocore Holdings plc Stock? IMCR Key Strengths
- Strong revenue growth of 29% YoY demonstrates market traction and product demand
- Significant loss improvement of 30.5% YoY net income shows trajectory toward profitability
- Excellent liquidity with $467.7M cash and 4.04x current ratio provides 18+ month operational runway
- Strong revenue growth (+29% YoY)
- Robust liquidity (current ratio ~4x; substantial cash)
- Improving losses and near-breakeven free cash flow
IMCR Stock Risks: Immunocore Holdings plc Investment Risks
- Operational cash burn of -$10.7M and negative free cash flow of -$15.1M despite revenue growth signals operational inefficiency
- Inability to cover interest payments from operations (Interest Coverage -3.7x) with elevated debt position of $438.7M
- Sustained unprofitability with negative ROE (-9.3%) and ROA (-3.3%) raises questions about business unit economics
- Continued operating and net losses (negative margins)
- High leverage with negative interest coverage
- Biotech execution and concentration risk in revenue sources
Key Metrics to Watch
- Path to operating cash flow positivity and near-term profitability timeline
- Gross margin realization if disclosed, as it indicates product-level unit economics
- Debt reduction progress and interest coverage trajectory
- Operating cash flow (trend to positive)
- Interest coverage ratio
Immunocore Holdings plc (IMCR) Financial Metrics & Key Ratios
💡 AI Analyst Insight
Strong liquidity with a 4.04x current ratio provides a solid financial cushion.
IMCR Profit Margin, ROE & Profitability Analysis
IMCR vs Healthcare Sector: How Immunocore Holdings plc Compares
How Immunocore Holdings plc compares to Healthcare sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Immunocore Holdings plc Stock Overvalued? IMCR Valuation Analysis 2026
Based on fundamental analysis, Immunocore Holdings plc shows some fundamental concerns relative to the Healthcare sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Immunocore Holdings plc Balance Sheet: IMCR Debt, Cash & Liquidity
IMCR Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Immunocore Holdings plc's revenue has grown significantly by 68% over the 5-year period, indicating strong business expansion. The most recent EPS of $-1.13 indicates the company is currently unprofitable.
IMCR Revenue Growth, EPS Growth & YoY Performance
IMCR Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $80.2M | -$177.0K | $0.00 |
| Q2 2025 | $75.4M | $5.0M | $-0.11 |
| Q1 2025 | $70.5M | $5.0M | $0.10 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Immunocore Holdings plc Dividends, Buybacks & Capital Allocation
IMCR SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Immunocore Holdings plc (CIK: 0001671927)
📋 Recent SEC Filings
❓ Frequently Asked Questions about IMCR
What is the AI rating for IMCR?
Immunocore Holdings plc (IMCR) has a Combined AI Rating of BUY from Claude (HOLD) and ChatGPT (BUY) with 66% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are IMCR's key strengths?
Claude: Strong revenue growth of 29% YoY demonstrates market traction and product demand. Significant loss improvement of 30.5% YoY net income shows trajectory toward profitability. ChatGPT: Strong revenue growth (+29% YoY). Robust liquidity (current ratio ~4x; substantial cash).
What are the risks of investing in IMCR?
Claude: Operational cash burn of -$10.7M and negative free cash flow of -$15.1M despite revenue growth signals operational inefficiency. Inability to cover interest payments from operations (Interest Coverage -3.7x) with elevated debt position of $438.7M. ChatGPT: Continued operating and net losses (negative margins). High leverage with negative interest coverage.
What is IMCR's revenue and growth?
Immunocore Holdings plc reported revenue of $400.0M.
Does IMCR pay dividends?
Immunocore Holdings plc does not currently pay dividends.
Where can I find IMCR SEC filings?
Official SEC filings for Immunocore Holdings plc (CIK: 0001671927) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is IMCR's EPS?
Immunocore Holdings plc has a diluted EPS of $-0.71.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is IMCR a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, Immunocore Holdings plc has a BUY rating with 66% confidence. The AI analysis suggests favorable fundamentals based on SEC filings. This is not investment advice.
Is IMCR stock overvalued or undervalued?
Valuation metrics for IMCR: ROE of -9.3% (sector avg: 15%), net margin of -8.9% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
Should I buy IMCR stock in 2026?
Our dual AI analysis gives Immunocore Holdings plc a combined BUY rating for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is IMCR's free cash flow?
Immunocore Holdings plc's operating cash flow is $-10.7M, with capital expenditures of $4.3M. FCF margin is -3.8%.
How does IMCR compare to other Healthcare stocks?
Vs Healthcare sector averages: Net margin -8.9% (avg: 12%), ROE -9.3% (avg: 15%), current ratio 4.04 (avg: 2).