What is Immunovant, Inc.'s earnings per share (EPS)?

Immunovant, Inc. (IMVT) reported diluted earnings per share of -$2.77 for fiscal year 2026. This represents a -1.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Immunovant, Inc. (IMVT) Financials

IMVT

FY2026 annual

Net Income -$505.6M -22.2% YoY

EPS (Diluted) -$2.77 -1.5% YoY

Free Cash Flow -$407.3M -8.1% YoY

Operating Cash Flow -$407.3M -8.4% YoY

Market Cap $6.6B as of Oct 8, 2026

Price / Sales n/m no revenue reported

Price / Earnings n/m net loss, so no earnings multiple, FY2026

Price / Book 9.0x on $735.4M equity, Q1 FY2027

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 8, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2027, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE March

Newest figures come from the 10-Q for Q1 FY2027, 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 IMVT SEC filings page.

This page shows Immunovant, Inc. (IMVT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).

Rhea AI IMVT FY2026 2026-10-03

The company operates as a heavily funded development business: research spending and cash use are rising while revenue remains unreported.

Operating cash outflow widened from $106M in FY2022 to $407M in FY2026, showing that cash consumption has accelerated rather than merely fluctuated. Over the same span, research and development spending rose from $102M to $457M, tying the larger cash requirement to a more intensive development program.

Cash conversion is weak by design at this stage: FY2026 net loss was $506M versus operating cash outflow of $407M, so accounting loss exceeded cash use but still translated into substantial funding needs. Free cash flow was essentially the same as operating cash flow because capital expenditures were only $8K, indicating the spending burden is operating development work rather than physical expansion.

External financing is building the balance sheet: total assets increased from $516M in FY2022 to $957M in FY2026, while FY2026 financing cash flow supplied $596M. Total liabilities were just $104M in FY2026, so the reported asset base is financed mainly by equity and accumulated funding rather than debt.

Financial Health Signals

Financial health score not available

Immunovant, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

2/6

Immunovant, Inc. passes 2 of 6 computable financial strength tests (3 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).

Earnings Quality No Cash Backing

N/A

Immunovant, Inc. reported a net loss of $505.6M while operations used $407.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

Export CSV

Earnings & Revenue

Net Income

-$153.2M

YoY-27.0%

Immunovant, Inc. reported -$153.2M in net income in Q1 2027. This represents a decrease of 27.0% from the same quarter a year earlier.

EPS (Diluted)

-$0.75

YoY-5.6%

QoQ-2.7%

Immunovant, Inc. earned -$0.75 per diluted share (EPS) in Q1 2027. This represents a decrease of 5.6% from the same quarter a year earlier. Against the prior quarter it is down 2.7%.

Revenue

Not reported for Q1 2027.

EBITDA

Not reported for Q1 2027.

Cash & Balance Sheet

Cash & Debt

$797.8M

YoY+33.2%

QoQ-11.6%

5Y CAGR+16.1%

Immunovant, Inc. held $797.8M in cash as of Q1 2027; long-term debt is not reported for that period.

Shares Outstanding

207M

YoY+18.5%

QoQ+0.6%

5Y CAGR+12.4%

Immunovant, Inc. had 207M shares outstanding in Q1 2027. This represents an increase of 18.5% from the same quarter a year earlier. Against the prior quarter it is up 0.6%.

Free Cash Flow

Not reported for Q1 2027.

Dividends Per Share

Not reported for Q1 2027.

Margins & Returns

Return on Equity

-20.8%

YoY-1.0pp

Immunovant, Inc.'s ROE was -20.8% in Q1 2027, measuring profit generated per dollar of shareholder equity. This is down 1.0 percentage points from the same quarter a year earlier.

Gross Margin

Not reported for Q1 2027.

Operating Margin

Not reported for Q1 2027.

Net Margin

Not reported for Q1 2027.

Capital Allocation

R&D Spending

$142.6M

YoY+40.9%

Immunovant, Inc. invested $142.6M in research and development in Q1 2027. This represents an increase of 40.9% from the same quarter a year earlier.

Share Buybacks

Not reported for Q1 2027.

Capital Expenditures

Not reported for Q1 2027.

IMVT 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.

IMVT quarterly income statement

Metric	TTM	FY26DEF 14A	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY2110-K	FY2010-K	FY1910-K
R&D Expenses	N/A	$456.7M+26.5%	$360.9M+69.5%	$212.9M+32.9%	$160.3M+57.4%	$101.8M+48.4%	$68.6M+43.1%	$47.9M+86.2%	$25.7M
SG&A Expenses	N/A	$76.2M-1.3%	$77.2M+34.8%	$57.3M+19.3%	$48.0M-11.4%	$54.2M+37.2%	$39.5M+117.7%	$18.2M+574.3%	$2.7M
Interest Expense	N/A	N/A	N/A	$24.9M+229.2%	$7.6M	$0	$0-100.0%	$625K	N/A
Income Tax	N/A	$215K-75.9%	$891K+57.1%	$567K+6200.0%	$9K+110.7%	-$84K+76.5%	-$358K-469.1%	$97K+410.5%	$19K
Net Income	N/A	-$505.6M-22.2%	-$413.8M-59.6%	-$259.3M-22.9%	-$211.0M-34.6%	-$156.7M-45.9%	-$107.4M-61.8%	-$66.4M-132.1%	-$28.6M
EPS (Basic)	N/A	-$2.77-1.5%	-$2.73-45.2%	-$1.88-9.9%	-$1.71-19.6%	-$1.43-17.2%	-$1.22	N/A	N/A
EPS (Diluted)	-$2.82	-$2.77-1.5%	-$2.73-45.2%	-$1.88-9.9%	-$1.71-19.6%	-$1.43-17.2%	-$1.22	N/A	N/A
Diluted Shares (Avg)	N/A	182M+20.4%	152M+9.8%	138M+12.2%	123M+12.2%	110M+25.0%	88M	N/A	N/A

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
R&D Expenses	$142.6M+40.9%	N/A	$98.9M+4.7%	$114.2M+17.5%	$101.2M+34.1%	N/A	$94.5M+95.5%	$97.3M+102.8%
SG&A Expenses	$17.7M-32.0%	N/A	$15.4M-22.0%	$17.5M-5.2%	$26.0M+38.4%	N/A	$19.8M+49.7%	$18.5M+33.5%
Income Tax	$0-100.0%	N/A	$1.6M+921.1%	$594K+661.5%	$913K+1085.7%	N/A	$152K+240.7%	$78K-82.8%
Net Income	-$153.2M-27.0%	N/A	-$110.6M+0.4%	-$126.5M-15.9%	-$120.6M-38.4%	N/A	-$111.1M-116.1%	-$109.1M-86.0%
EPS (Basic)	-$0.75-5.6%	-$0.73-15.9%	-$0.61+19.7%	-$0.73+1.4%	-$0.71-18.3%	-$0.63-21.2%	-$0.76-111.1%	-$0.74-64.4%
EPS (Diluted)	-$0.75-5.6%	-$0.73-15.9%	-$0.61+19.7%	-$0.73+1.4%	-$0.71-18.3%	-$0.63-21.2%	-$0.76-111.1%	-$0.74-64.4%
Diluted Shares (Avg)	206M+20.3%	N/A	182M+23.5%	174M+18.6%	171M+17.0%	N/A	147M+1.7%	146M+11.7%

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Operating Income, EBITDA, Interest Expense.

IMVT Balance Sheet

IMVT quarterly balance sheet

Metric	FY26DEF 14A	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY2110-K	FY2010-K	FY1910-K
Total Assets	$957.0M+23.3%	$776.2M+16.5%	$666.4M+64.2%	$405.8M-21.3%	$515.6M+25.0%	$412.5M+277.1%	$109.4M+691.1%	$13.8M
Current Assets	$948.8M+23.6%	$767.7M+15.3%	$665.8M+64.7%	$404.3M-21.2%	$512.9M+25.4%	$409.0M+275.0%	$109.1M+767.1%	$12.6M
Cash & Equivalents	$902.1M+26.4%	$714.0M+12.4%	$635.4M+68.7%	$376.5M-23.8%	$493.8M+23.4%	$400.1M+297.9%	$100.6M+1339.8%	$7.0M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$1.1M-45.6%	$2.1M-61.0%	$5.3M+662.4%	$700K-94.3%	$12.2M+1951.8%	$596K	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$104.4M+51.8%	$68.8M+41.5%	$48.6M+12.1%	$43.3M-5.2%	$45.7M+117.7%	$21.0M+37.2%	$15.3M+136.1%	$6.5M
Current Liabilities	$104.4M+51.8%	$68.8M+41.5%	$48.6M+12.3%	$43.3M-2.7%	$44.5M+137.2%	$18.8M+22.5%	$15.3M+4998.4%	$300K
Non-Current Liabilities	$0	$0	$0-100.0%	$47K-96.1%	$1.2M-45.5%	$2.2M	$0-100.0%	$6.2M
Total Equity	$852.6M+20.5%	$707.4M+14.5%	$617.8M+70.4%	$362.5M-22.8%	$469.8M+20.0%	$391.5M+316.2%	$94.1M+1181.8%	$7.3M
Retained Earnings	-$1.7B-40.8%	-$1.2B-50.1%	-$825.7M-45.8%	-$566.3M-59.4%	-$355.4M-78.9%	-$198.7M-117.8%	-$91.2M-267.3%	-$24.8M

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Total Assets	$852.5M+28.9%	$957.0M+23.3%	$1.1B+150.0%	$583.0M+13.0%	$661.4M+12.2%	$776.2M+16.5%	$420.9M-40.8%	$515.7M+76.6%
Current Assets	$851.2M+30.6%	$948.8M+23.6%	$1.0B+152.8%	$573.5M+13.0%	$651.8M+10.6%	$767.7M+15.3%	$412.5M-42.0%	$507.4M+74.2%
Cash & Equivalents	$797.8M+33.2%	$902.1M+26.4%	$994.5M+165.4%	$521.9M+10.3%	$598.9M+6.9%	$714.0M+12.4%	$374.7M-45.8%	$472.9M+75.2%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$697K-64.0%	$1.1M-45.6%	$1.6M-26.1%	$2.0M+5.0%	$1.9M-19.9%	$2.1M-61.0%	$2.2M+116.1%	$1.9M+32.0%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$117.1M+121.4%	$104.4M+51.8%	$66.3M-3.0%	$63.3M-5.1%	$52.9M+17.5%	$68.8M+41.5%	$68.3M+112.8%	$66.7M+65.6%
Current Liabilities	$117.1M+121.4%	$104.4M+51.8%	$66.3M-3.0%	$63.3M-5.1%	$52.9M+17.5%	$68.8M+41.5%	$68.3M+112.8%	$66.7M+65.6%
Non-Current Liabilities	$0	$0	$0	$0	$0	$0	$0	$0
Total Equity	$735.4M+20.8%	$852.6M+20.5%	$986.1M+179.7%	$519.7M+15.7%	$608.5M+11.7%	$707.4M+14.5%	$352.6M-48.1%	$449.1M+78.3%
Retained Earnings	-$1.9B-39.6%	-$1.7B-40.8%	-$1.6B-41.0%	-$1.5B-45.5%	-$1.4B-49.0%	-$1.2B-50.1%	-$1.1B-51.0%	-$1.0B-46.2%

Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.

IMVT Cash Flow Statement

IMVT quarterly cash flow statement

Metric	TTM	FY26DEF 14A	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY2110-K	FY2010-K	FY1910-K
Operating Cash Flow	-$414.3M	-$407.3M-8.4%	-$375.9M-75.5%	-$214.2M-13.8%	-$188.2M-77.4%	-$106.1M-27.3%	-$83.3M-56.2%	-$53.4M-86.9%	-$28.5M
Depreciation & Amortization	N/A	$409K+8.5%	$377K+63.2%	$231K+19.7%	$193K+53.2%	$126K+93.8%	$65K+209.5%	$21K+110.0%	$10K
Stock-Based Compensation	N/A	$55.7M+12.6%	$49.5M+20.4%	$41.1M+27.3%	$32.3M-5.7%	$34.2M+81.9%	$18.8M+170.3%	$7.0M+432.3%	$1.3M
Capital Expenditures	N/A	$8K-98.9%	$759K+110.8%	$360K+82.7%	$197K-22.4%	$254K+21.0%	$210K+577.4%	$31K-40.4%	$52K
Free Cash Flow	N/A	-$407.3M-8.1%	-$376.6M-75.5%	-$214.6M-13.9%	-$188.4M-77.1%	-$106.4M-27.3%	-$83.5M-56.5%	-$53.4M-86.7%	-$28.6M
Investing Cash Flow	N/A	-$8K+98.9%	-$759K-110.8%	-$360K-82.7%	-$197K+22.4%	-$254K-21.0%	-$210K-577.4%	-$31K+40.4%	-$52K
Financing Cash Flow	$612.9M	$595.8M+31.1%	$454.5M-3.8%	$472.4M+566.5%	$70.9M-64.6%	$200.1M-47.8%	$383.1M+160.7%	$147.0M+313.0%	$35.6M

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Operating Cash Flow	-$124.4M-6.0%	-$95.1M+14.1%	-$92.3M+8.0%	-$102.5M-15.6%	-$117.4M-54.1%	-$110.6M-85.3%	-$100.4M-113.2%	-$88.6M-47.6%
Depreciation & Amortization	$92K-14.0%	$96K-11.9%	$101K+2.0%	$105K+18.0%	$107K+33.8%	$109K+70.3%	$99K+70.7%	$89K+58.9%
Stock-Based Compensation	$13.8M-25.6%	N/A	$12.5M+7.6%	$13.2M+3.9%	$18.5M+37.6%	N/A	$11.6M+14.2%	$12.7M+20.8%
Capital Expenditures	N/A	$8K-96.0%	$0-100.0%	$0-100.0%	$0-100.0%	$201K+34.0%	$180K+37.4%	$196K+476.5%
Free Cash Flow	N/A	-$95.1M+14.2%	-$92.3M+8.2%	-$102.5M-15.4%	-$117.4M-53.7%	-$110.8M-85.2%	-$100.6M-112.9%	-$88.8M-47.8%
Investing Cash Flow	N/A	-$8K+96.0%	$0+100.0%	$0+100.0%	$0+100.0%	-$201K-34.0%	-$180K-37.4%	-$196K-476.5%
Financing Cash Flow	$20.1M+588.7%	$3.6M-99.2%	$564.6M+22814.1%	$24.6M+3269.2%	$2.9M+325.4%	$450.6M+29065.8%	$2.5M-99.5%	$730K+393.2%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

IMVT 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.

IMVT quarterly financial ratios

Metric	FY26DEF 14A	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY2110-K	FY2010-K	FY1910-K
Return on Equity	-59.3%-0.8pp	-58.5%-16.5pp	-42.0%+16.2pp	-58.2%-24.8pp	-33.4%-5.9pp	-27.4%+43.1pp	-70.6%+319.1pp	-389.7%
Return on Assets	-52.8%+0.5pp	-53.3%-14.4pp	-38.9%+13.1pp	-52.0%-21.6pp	-30.4%-4.4pp	-26.0%+34.6pp	-60.7%+146.1pp	-206.8%
Current Ratio	9.09-2.1x	11.16-2.5x	13.70+4.4x	9.34-2.2x	11.52-10.3x	21.79+14.7x	7.12-34.7x	41.87
Debt-to-Equity	0.120.0x	0.100.0x	0.080.0x	0.120.0x	0.100.0x	0.05-0.1x	0.16-0.7x	0.88

Metric	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Return on Equity	-20.8%-1.0pp	N/A	-11.2%+20.3pp	-24.3%0.0pp	-19.8%-3.8pp	N/A	-31.5%-23.9pp	-24.3%-1.0pp
Return on Assets	-18.0%+0.3pp	N/A	-10.5%+15.9pp	-21.7%-0.5pp	-18.2%-3.5pp	N/A	-26.4%-19.2pp	-21.2%-1.1pp
Current Ratio	7.27-5.1x	9.09-2.1x	15.74+9.7x	9.07+1.5x	12.32-0.8x	11.16-2.5x	6.04-16.1x	7.61+0.4x
Debt-to-Equity	0.16+0.1x	0.120.0x	0.07-0.1x	0.120.0x	0.090.0x	0.100.0x	0.19+0.1x	0.150.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.

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
Immunovant, Inc. IMVT	FY2026	N/A	-$505.6M	N/A	$6.6B	—
Soleno Therapeutics, Inc. SLNO	FY2025	$190.4M	$20.9M	11.0%	$2.8B	59/100
Scholar Rock Holding Corporation SRRK	FY2025	$0	-$378.0M	N/A	$5.2B	—
Viking Therapeutics, Inc VKTX	FY2025	$0	-$359.6M	N/A	$3.6B	—
Mineralys Therapeutics, Inc. MLYS	FY2025	N/A	-$154.7M	N/A	$1.9B	—
Apellis Pharmaceuticals, Inc. APLS	FY2025	$1.0B	$22.4M	2.2%	$5.3B	42/100

Where Immunovant, Inc. Ranks

Frequently Asked Questions

Is Immunovant, Inc. profitable?

No, Immunovant, Inc. (IMVT) reported a net income of -$505.6M in fiscal year 2026.

What is Immunovant, Inc.'s return on equity (ROE)?

Immunovant, Inc. (IMVT) has a return on equity of -59.3% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Immunovant, Inc.'s free cash flow?

Immunovant, Inc. (IMVT) recorded an outflow of $407.3M in free cash flow during fiscal year 2026. This represents a -8.1% 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 Immunovant, Inc.'s operating cash flow?

Immunovant, Inc. (IMVT) recorded an outflow of $407.3M in operating cash flow during fiscal year 2026, representing cash used by core business activities.

What are Immunovant, Inc.'s total assets?

Immunovant, Inc. (IMVT) had $957.0M in total assets as of fiscal year 2026, including both current and long-term assets.

What are Immunovant, Inc.'s capital expenditures?

Immunovant, Inc. (IMVT) invested $8K in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How much does Immunovant, Inc. spend on research and development?

Immunovant, Inc. (IMVT) invested $456.7M in research and development during fiscal year 2026.

How many shares does Immunovant, Inc. have outstanding?

Immunovant, Inc. (IMVT) had 205M shares outstanding as of fiscal year 2026.

What is Immunovant, Inc.'s current ratio?

Immunovant, Inc. (IMVT) had a current ratio of 9.09 as of fiscal year 2026, which is generally considered healthy.

What is Immunovant, Inc.'s debt-to-equity ratio?

Immunovant, Inc. (IMVT) had a debt-to-equity ratio of 0.12 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Immunovant, Inc.'s return on assets (ROA)?

Immunovant, Inc. (IMVT) had a return on assets of -52.8% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Immunovant, Inc.'s P/E ratio?

Immunovant, Inc. (IMVT) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2026). The market capitalization is $6.6B as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Immunovant, Inc.'s price-to-sales ratio?

Immunovant, Inc. (IMVT) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $6.6B as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Immunovant, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2026, Immunovant, Inc. (IMVT) held $902.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $407.3M over that year. Dividing the one by the other, the reported balance equals about 27 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Immunovant, Inc.'s Piotroski F-Score?

Immunovant, Inc. (IMVT) has a Piotroski F-Score of 2 out of 6 computable signals; 3 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 Immunovant, Inc.'s earnings high quality?

Immunovant, Inc. (IMVT) reported a net loss of $505.6M while operations used $407.3M 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.