Immunocore Holdings plc (IMCR) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the IMCR SEC filings page.
Immunocore Holdings plc (IMCR) reported $430.8M in revenue over the twelve months to Jun 30, 2026, up 21.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue is scaling and losses are narrowing, but cash generation remains uneven and financing has become more leveraged.
The key earnings-quality shift is that FY2024 paired a net loss of$51.1M with positive operating cash flow of$26.1M , showing accounting losses did not fully translate into cash consumption. That relationship reversed in FY2025: operating cash flow was-$10.7M even as the net loss narrowed to$35.5M , so the improvement in reported profitability is not yet a stable cash pattern.
Operating margin improved from
Debt-to-equity rose from 0.6x in FY2023 to 1.8x in FY2025, so the balance sheet carries materially more leverage than two years earlier. The current ratio was 4.0x, indicating considerable current-asset coverage of near-term liabilities, but that short-term cushion does not reverse the longer-term financing shift.
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Immunocore Holdings plc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Immunocore Holdings plc held $864.2M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $10.7M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Immunocore Holdings plc scores 100/100 among other emerging companies.
Immunocore Holdings plc had 51M shares outstanding at the end of fiscal year 2025, against 50M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Immunocore Holdings plc scores 70/100 among other emerging companies.
Immunocore Holdings plc spent $274.9M on research and development in fiscal year 2025, which was 61.7% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Immunocore Holdings plc scores 84/100 among other emerging companies.
Immunocore Holdings plc reported revenue of $400.0M in fiscal year 2025, against $310.2M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Immunocore Holdings plc scores 70/100 among other emerging companies.
Not available for Immunocore Holdings plc, and counted as zero in the overall score.
Immunocore Holdings plc's cash, cash equivalents and investments came to $864.2M at the end of fiscal year 2025, against $686.2M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Immunocore Holdings plc scores 64/100 among other emerging companies.
Immunocore Holdings plc scores 1.31, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.5B) relative to total liabilities ($686.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Immunocore Holdings plc passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Immunocore Holdings plc reported a net loss of $35.5M while operations used $10.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Immunocore Holdings plc reported an operating loss of $45.4M against $12.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Immunocore Holdings plc generated $115.9M in revenue in Q2 2026. This represents an increase of 18.3% from the same quarter a year earlier. Against the prior quarter it is up 8.7%.
Immunocore Holdings plc's EBITDA was -$2.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 86.0% from the same quarter a year earlier. Against the prior quarter it is down 123.9%.
Immunocore Holdings plc reported -$808K in net income in Q2 2026. This represents an increase of 92.2% from the same quarter a year earlier. Against the prior quarter it is down 106.2%.
Immunocore Holdings plc earned -$0.02 per diluted share (EPS) in Q2 2026. This represents an increase of 90.0% from the same quarter a year earlier. Against the prior quarter it is down 108.0%.
Cash & Balance Sheet
Immunocore Holdings plc generated $15.1M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 40.7% from the same quarter a year earlier. Against the prior quarter it is up 197.3%.
Immunocore Holdings plc held $484.9M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Immunocore Holdings plc's gross margin was 99.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.5 percentage points.
Immunocore Holdings plc's operating margin was -2.6% in Q2 2026, reflecting core business profitability. This is up 12.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 9.4 percentage points.
Immunocore Holdings plc's net profit margin was -0.7% in Q2 2026, showing the share of revenue converted to profit. This is up 9.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 12.9 percentage points.
Immunocore Holdings plc's ROE was -0.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.5 percentage points.
Capital Allocation
Immunocore Holdings plc invested $73.9M in research and development in Q2 2026. This represents an increase of 7.2% from the same quarter a year earlier. Against the prior quarter it is up 21.0%.
Immunocore Holdings plc invested $786K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 89.9% from the same quarter a year earlier. Against the prior quarter it is down 55.9%.
Not reported for Q2 2026.
IMCR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $115.9M+18.3% | $106.7M+13.6% | $104.5M+24.3% | $103.7M+29.2% | $98.0M+29.9% | $93.9M+33.2% | $84.1M+19.8% | $80.2M+23.7% |
| Cost of Revenue | $1.1M+4.6% | $434K-47.8% | $2.7M+719.1% | $513K+14.5% | $1.0M-39.1% | $831K+237.8% | $330K+65.8% | $448K+62.3% |
| Gross Profit | $114.8M+18.5% | $106.2M+14.2% | $101.8M+21.6% | $103.2M+29.3% | $96.9M+31.5% | $93.0M+32.4% | $83.7M+19.7% | $79.8M+23.6% |
| R&D Expenses | $73.9M+7.2% | $61.1M+8.2% | $78.8M+29.5% | $70.6M+33.7% | $69.0M+35.1% | $56.5M-1.7% | $60.9M+33.5% | $52.8M+22.0% |
| SG&A Expenses | $43.9M+2.6% | $37.9M-5.8% | $42.6M+0.8% | $39.8M+12.0% | $42.8M+10.7% | $40.2M+2.3% | $42.3M+2.1% | $35.5M+0.2% |
| Operating Income | -$3.0M+79.9% | $7.3M+301.3% | -$19.7M-1.2% | -$7.2M+15.7% | -$14.9M+7.1% | -$3.6M+86.3% | -$19.5M-14.1% | -$8.5M+39.9% |
| EBITDA | -$2.0M+86.0% | $8.2M+397.9% | -$19.0M-4.0% | -$6.4M+14.7% | -$14.1M+6.2% | -$2.8M+89.2% | -$18.3M-14.2% | -$7.5M+42.9% |
| Interest Expense | $3.1M+0.6% | $3.1M+0.9% | $3.1M-56.6% | $3.0M-29.1% | $3.0M-28.8% | $3.0M-6.6% | $7.0M+437.7% | $4.3M+224.8% |
| Income Tax | $294K-51.5% | $301K-71.6% | $14.3M+1458.7% | $481K+118.2% | $606K-59.2% | $1.1M+197.2% | -$1.1M+82.2% | -$2.6M-1410.3% |
| Net Income | -$808K+92.2% | $13.0M+158.2% | -$30.1M-26.5% | -$177K-102.0% | -$10.3M+11.3% | $5.0M+120.6% | -$23.8M-20.5% | $8.7M+864.2% |
| EPS (Basic) | -$0.02+90.0% | $0.26+160.0% | -$0.60-27.7% | $0.00-100.0% | -$0.20+13.0% | $0.10+120.4% | -$0.47-17.5% | $0.17+750.0% |
| EPS (Diluted) | -$0.02+90.0% | $0.25+150.0% | -$0.60-27.7% | $0.00-100.0% | -$0.20+13.0% | $0.10+120.4% | -$0.47-17.5% | $0.17+750.0% |
| Diluted Shares (Avg) | 51M+1.4% | 53M+1.9% | N/A | 50M-4.6% | 50M+0.6% | 52M+4.2% | N/A | 53M-2.5% |
IMCR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.1B+3.4% | $1.1B+4.3% | $1.1B+5.7% | $1.1B+1.6% | $1.1B+5.8% | $1.0B+3.4% | $1.0B+69.1% | $1.1B |
| Current Assets | $1.1B+4.9% | $1.0B+5.8% | $996.7M+7.2% | $1.0B+1.7% | $1.0B+4.7% | $948.6M+2.4% | $929.9M+75.8% | $1.0B |
| Cash & Equivalents | $484.9M-0.6% | $452.7M-5.1% | $467.7M+2.6% | $498.4M-7.3% | $487.9M-3.4% | $476.8M-42.7% | $455.7M+3.0% | $537.8M+21.1% |
| Short-Term Investments | $395.3M+0.1% | $392.2M+8.9% | $396.4M+8.7% | $393.9M+8.4% | $394.9M+11.4% | $360.2M | $364.6M | $363.5M |
| Inventory | $7.8M+42.8% | $8.3M+21.3% | $6.7M+23.8% | $5.7M+25.2% | $5.5M+57.6% | $6.8M+63.3% | $5.4M+21.0% | $4.5M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | $63.0M+21.0% | $63.7M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $699.6M+0.8% | $678.4M+4.4% | $686.2M+5.8% | $705.9M-0.1% | $693.9M+4.5% | $649.5M+2.4% | $648.8M+184.4% | $706.8M |
| Current Liabilities | $235.2M+38.3% | $240.1M+61.0% | $246.7M+16.3% | $170.4M-36.0% | $170.1M-8.1% | $149.2M-3.9% | $212.2M+52.6% | $266.2M |
| Non-Current Liabilities | $464.4M-11.3% | $438.3M-12.4% | $439.5M+0.7% | $535.6M+21.6% | $523.8M+9.3% | $500.4M+4.4% | $436.6M+389.8% | $440.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $438.7M |
| Total Equity | $419.8M+8.1% | $393.7M+4.0% | $381.0M+5.6% | $396.6M+5.0% | $388.5M+8.2% | $378.5M+5.3% | $360.7M-2.2% | $377.8M+6.1% |
| Retained Earnings | -$819.1M-2.3% | -$818.3M-3.5% | -$831.3M-4.5% | -$801.2M-3.8% | -$801.0M-2.6% | -$790.7M-2.8% | -$795.8M-6.9% | -$772.0M |
Not reported in any period shown, so not listed: Goodwill.
IMCR Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $15.9M-38.7% | -$13.8M-3266.7% | -$32.7M-134.1% | -$4.5M-121.1% | $26.0M+10.6% | $435K+109.5% | -$14.0M+21.3% | $21.1M+109.4% |
| Depreciation & Amortization | $1.0M+31.5% | $948K+11.0% | $668K-42.5% | $798K-22.9% | $780K-21.4% | $854K-15.5% | $1.2M+11.5% | $1.0M-3.9% |
| Stock-Based Compensation | N/A | $6.3M-33.6% | N/A | N/A | N/A | $9.5M+5.9% | N/A | N/A |
| Capital Expenditures | $786K+89.9% | $1.8M+497.7% | $2.9M-19.6% | $748K-9.7% | $414K+25.1% | $298K-30.7% | $3.6M+338.7% | $828K+290.6% |
| Free Cash Flow | $15.1M-40.7% | -$15.6M-11454.7% | -$35.5M-102.7% | -$5.2M-125.6% | $25.6M+10.4% | $137K+102.7% | -$17.5M+5.5% | $20.3M+105.5% |
| Investing Cash Flow | -$786K+97.4% | $4.2M-56.5% | -$880K+75.1% | $5.3M+734.3% | -$30.4M+91.3% | $9.7M+2356.3% | -$3.5M-333.3% | -$828K-290.6% |
| Financing Cash Flow | $16.5M+349.2% | $656K-74.3% | $4.3M+108.3% | $1.9M+842.4% | $3.7M+548.7% | $2.6M-99.4% | -$51.5M-923.6% | $198K-98.1% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
IMCR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 99.1%+0.1pp | 99.6%+0.5pp | 97.4%-2.2pp | 99.5%+0.1pp | 98.9%+1.2pp | 99.1%-0.5pp | 99.6%-0.1pp | 99.4%-0.1pp |
| Operating Margin | -2.6%+12.6pp | 6.8%+10.7pp | -18.9%+4.3pp | -6.9%+3.7pp | -15.2%+6.1pp | -3.9%+33.7pp | -23.1%+1.2pp | -10.6%+11.2pp |
| Net Margin | -0.7%+9.8pp | 12.2%+6.8pp | -28.8%-0.5pp | -0.2%-11.1pp | -10.5%+4.9pp | 5.3%+40.0pp | -28.3%-0.2pp | 10.9%+9.5pp |
| Return on Equity | -0.2%+2.5pp | 3.3%+2.0pp | -7.9%-1.3pp | 0.0%-2.4pp | -2.6%+0.6pp | 1.3%+8.1pp | -6.6%-1.2pp | 2.3%+2.1pp |
| Return on Assets | -0.1%+0.9pp | 1.2%+0.7pp | -2.8%-0.5pp | 0.0%-0.8pp | -0.9%+0.2pp | 0.5%+2.9pp | -2.4%+1.0pp | 0.8% |
| Current Ratio | 4.47-1.4x | 4.18-2.2x | 4.04-0.3x | 6.00+2.2x | 5.89+0.7x | 6.36+0.4x | 4.38+0.6x | 3.78 |
| Debt-to-Equity | 1.67-0.1x | 1.720.0x | 1.800.0x | 1.78+0.6x | 1.79+0.5x | 1.72+0.5x | 1.80+1.2x | 1.16 |
| Asset Turnover | 0.100.0x | 0.100.0x | 0.100.0x | 0.090.0x | 0.090.0x | 0.090.0x | 0.080.0x | 0.07 |
| FCF Margin | 13.1%-13.0pp | -14.6%-14.7pp | -34.0%-13.2pp | -5.0%-30.3pp | 26.1%-4.6pp | 0.1%+7.3pp | -20.9%+5.6pp | 25.3%+10.1pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Immunocore Holdings plc IMCR | FY2025 | $400.0M | -$35.5M | -8.9% | $1.5B | 65/100 |
| Sarepta Therapeutics,, Inc. SRPT | FY2025 | $2.2B | -$713.4M | -32.5% | $1.9B | 44/100 |
| Mesoblast Limited MESO | FY2025 | $17.2M | -$102.1M | N/A | $1.9B | 28/100 |
| Harmony Biosciences Holdings, Inc. HRMY | FY2025 | $868.5M | $158.7M | 18.3% | $2.3B | 88/100 |
| Dyne Therapeutics, Inc. DYN | FY2025 | N/A | -$446 | N/A | $3.1B | — |
| Aurinia Pharmaceuticals Inc AUPH | FY2025 | $283.1M | $287.2M | N/A | $2.2B | 56/100 |
Where Immunocore Holdings plc Ranks
Frequently Asked Questions
What is Immunocore Holdings plc's annual revenue?
Immunocore Holdings plc (IMCR) reported $400.0M in total revenue for fiscal year 2025. This represents a 29.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Immunocore Holdings plc's revenue growing?
Immunocore Holdings plc (IMCR) revenue grew by 29.0% year-over-year, from $310.2M to $400.0M in fiscal year 2025.
Is Immunocore Holdings plc profitable?
No, Immunocore Holdings plc (IMCR) reported a net income of -$35.5M in fiscal year 2025, with a net profit margin of -8.9%.
What is Immunocore Holdings plc's EBITDA?
Immunocore Holdings plc (IMCR) had EBITDA of -$42.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Immunocore Holdings plc's gross margin?
Immunocore Holdings plc (IMCR) had a gross margin of 98.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Immunocore Holdings plc's operating margin?
Immunocore Holdings plc (IMCR) had an operating margin of -11.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Immunocore Holdings plc's net profit margin?
Immunocore Holdings plc (IMCR) had a net profit margin of -8.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Immunocore Holdings plc's return on equity (ROE)?
Immunocore Holdings plc (IMCR) has a return on equity of -9.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Immunocore Holdings plc's free cash flow?
Immunocore Holdings plc (IMCR) recorded an outflow of $15.1M in free cash flow during fiscal year 2025. This represents a -172.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Immunocore Holdings plc's operating cash flow?
Immunocore Holdings plc (IMCR) recorded an outflow of $10.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Immunocore Holdings plc's total assets?
Immunocore Holdings plc (IMCR) had $1.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Immunocore Holdings plc's capital expenditures?
Immunocore Holdings plc (IMCR) invested $4.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Immunocore Holdings plc spend on research and development?
Immunocore Holdings plc (IMCR) invested $274.9M in research and development during fiscal year 2025.
What is Immunocore Holdings plc's current ratio?
Immunocore Holdings plc (IMCR) had a current ratio of 4.04 as of fiscal year 2025, which is generally considered healthy.
What is Immunocore Holdings plc's debt-to-equity ratio?
Immunocore Holdings plc (IMCR) had a debt-to-equity ratio of 1.80 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Immunocore Holdings plc's return on assets (ROA)?
Immunocore Holdings plc (IMCR) had a return on assets of -3.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Immunocore Holdings plc's P/E ratio?
Immunocore Holdings plc (IMCR) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $1.5B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Immunocore Holdings plc's price-to-sales ratio?
Immunocore Holdings plc (IMCR) trades at 3.5x sales, its market capitalization divided by revenue of $430.8M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.5B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Immunocore Holdings plc's Altman Z-Score?
Immunocore Holdings plc (IMCR) has an Altman Z-Score of 1.31, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Immunocore Holdings plc's Piotroski F-Score?
Immunocore Holdings plc (IMCR) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Immunocore Holdings plc's earnings high quality?
Immunocore Holdings plc (IMCR) reported a net loss of $35.5M while operations used $10.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Immunocore Holdings plc cover its interest payments?
Immunocore Holdings plc (IMCR) reported an operating loss of $45.4M against $12.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Immunocore Holdings plc?
Immunocore Holdings plc (IMCR) scores 65 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.