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IMMUCELL CORP /DE/

ICCC Clue Score63
United States Fiscal year ends December CIK 0000811641
$9.80 +0.51% Close, 9 Oct 2026
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Price $9.80 +7.51% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Operating income0.9Net income0.5EPS, diluted0.12Fiscal year 2017Revenue10.4Operating income−0.2Net income−0.2 −133.1%EPS, diluted−0.03 −125.0%Fiscal year 2018Revenue11.0 +5.3%Operating income−1.4Net income−2.3EPS, diluted−0.42Fiscal year 2019Revenue13.7 +24.9%Operating income−1.0Net income−1.3EPS, diluted−0.19Fiscal year 2020Operating income−1.4Net income−1.0EPS, diluted−0.14Fiscal year 2021Operating income0.3Net income−0.1EPS, diluted−0.01Fiscal year 2022Revenue18.6Operating income−2.3Net income−2.5EPS, diluted−0.32Fiscal year 2023Revenue17.5 −5.9%Operating income−5.7Net income−5.8EPS, diluted−0.75Fiscal year 2024Revenue26.5 +51.6%Operating income−1.6Net income−2.2EPS, diluted−0.26Fiscal year 2025Revenue27.6 +4.3%Operating income1.6Net income−1.0EPS, diluted−0.12
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a 10.4 11.0 13.7 n/a n/a 18.6 17.5 26.5 27.6
Growth +5.3% +24.9% −5.9% +51.6% +4.3%
Operating income 0.9 −0.2 −1.4 −1.0 −1.4 0.3 −2.3 −5.7 −1.6 1.6
Net income 0.5 −0.2 −2.3 −1.3 −1.0 −0.1 −2.5 −5.8 −2.2 −1.0
Growth −133.1%
EPS, diluted 0.12 −0.03 −0.42 −0.19 −0.14 −0.01 −0.32 −0.75 −0.26 −0.12
Growth −125.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Fiscal year 2017Gross margin50.1%Operating margin−2.3%Net margin−1.6%Free cash flow margin−159.0%Fiscal year 2018Gross margin47.3%Operating margin−13.2%Net margin−21.1%Free cash flow margin−21.9%Fiscal year 2019Gross margin49.1%Operating margin−7.0%Net margin−9.4%Free cash flow margin−8.4%Fiscal year 2020Fiscal year 2021Fiscal year 2022Gross margin41.2%Operating margin−12.4%Net margin−13.4%Free cash flow margin−29.7%Fiscal year 2023Gross margin22.1%Operating margin−32.9%Net margin−33.1%Free cash flow margin−37.6%Fiscal year 2024Gross margin30.0%Operating margin−6.2%Net margin−8.1%Free cash flow margin−0.4%Fiscal year 2025Gross margin41.4%Operating margin6.0%Net margin−3.8%Free cash flow margin4.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a 50.1% 47.3% 49.1% n/a n/a 41.2% 22.1% 30.0% 41.4%
Operating margin n/a −2.3% −13.2% −7.0% n/a n/a −12.4% −32.9% −6.2% 6.0%
Net margin n/a −1.6% −21.1% −9.4% n/a n/a −13.4% −33.1% −8.1% −3.8%
Free cash flow margin n/a −159.0% −21.9% −8.4% n/a n/a −29.7% −37.6% −0.4% 4.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−0.2Capital expenditure−3.6Free cash flow−3.8Fiscal year 2017Operating cash flow1.2Capital expenditure−17.8Free cash flow−16.6Fiscal year 2018Operating cash flow−0.4Capital expenditure−2.0Free cash flow−2.4Fiscal year 2019Operating cash flow0.2Capital expenditure−1.4Free cash flow−1.2Fiscal year 2020Operating cash flow1.3Capital expenditure−4.1Free cash flow−2.8Fiscal year 2021Operating cash flow1.0Capital expenditure−2.6Free cash flow−1.7Fiscal year 2022Operating cash flow−1.5Capital expenditure−4.0Free cash flow−5.5Fiscal year 2023Operating cash flow−4.7Capital expenditure−1.9Free cash flow−6.6Fiscal year 2024Operating cash flow0.4Capital expenditure−0.5Free cash flow−0.1Fiscal year 2025Operating cash flow2.5Capital expenditure−1.3Free cash flow1.2
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −0.2 1.2 −0.4 0.2 1.3 1.0 −1.5 −4.7 0.4 2.5
Capital expenditure −3.6 −17.8 −2.0 −1.4 −4.1 −2.6 −4.0 −1.9 −0.5 −1.3
Free cash flow −3.8 −16.6 −2.4 −1.2 −2.8 −1.7 −5.5 −6.6 −0.1 1.2
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash5.2Shareholders’ equity19.7Fiscal year 2017Cash3.8Total debt18.0Net cash (debt)−14.2Shareholders’ equity23.6Debt to equity0.76Fiscal year 2018Cash2.5Total debt18.6Net cash (debt)−16.1Shareholders’ equity21.7Debt to equity0.86Fiscal year 2019Cash6.3Total debt16.9Net cash (debt)−10.6Shareholders’ equity29.0Debt to equity0.58Fiscal year 2020Cash6.9Total debt9.5Net cash (debt)−2.5Shareholders’ equity28.3Debt to equity0.34Fiscal year 2021Cash10.2Total debt0.8Net cash (debt)9.4Shareholders’ equity32.6Debt to equity0.02Fiscal year 2022Cash5.8Total debt10.2Net cash (debt)−4.4Shareholders’ equity30.4Debt to equity0.34Fiscal year 2023Cash1.0Shareholders’ equity25.0Fiscal year 2024Cash3.8Total debt10.5Net cash (debt)−6.8Shareholders’ equity27.5Debt to equity0.38Fiscal year 2025Cash3.8Total debt9.1Net cash (debt)−5.3Shareholders’ equity27.1Debt to equity0.34
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 5.2 3.8 2.5 6.3 6.9 10.2 5.8 1.0 3.8 3.8
Total debt n/a 18.0 18.6 16.9 9.5 0.8 10.2 n/a 10.5 9.1
Net cash (debt) n/a −14.2 −16.1 −10.6 −2.5 9.4 −4.4 n/a −6.8 −5.3
Shareholders’ equity 19.7 23.6 21.7 29.0 28.3 32.6 30.4 25.0 27.5 27.1
Debt to equity n/a 0.76 0.86 0.58 0.34 0.02 0.34 n/a 0.38 0.34

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
n/a 50.1% 47.3% 49.1% n/a n/a 41.2% 22.1% 30.0% 41.4%
n/a −2.3% −13.2% −7.0% n/a n/a −12.4% −32.9% −6.2% 6.0%
n/a −4.2% −16.9% −9.2% n/a n/a −13.4% −33.0% −8.1% −3.7%
n/a −1.6% −21.1% −9.4% n/a n/a −13.4% −33.1% −8.1% −3.8%
n/a −159.0% −21.9% −8.4% n/a n/a −29.7% −37.6% −0.4% 4.4%
Spending
n/a 19.6% 32.0% 26.9% n/a n/a 24.2% 25.2% 14.7% 11.0%
n/a 14.6% 15.8% 12.3% n/a n/a 12.2% 12.2% 8.4% 11.6%
n/a 170.3% 18.5% 10.1% n/a n/a 21.4% 10.8% 1.8% 4.5%
33.0% n/a n/a n/a n/a n/a n/a n/a n/a n/a
Returns
2.6% −0.7% −10.7% −4.5% −3.6% −0.2% −8.2% −23.1% −7.8% −3.8%
2.1% −0.5% −7.1% −3.3% −2.5% −0.2% −5.6% −13.2% −4.8% −2.4%
Balance and payout
n/a 0.76 0.86 0.58 0.34 0.02 0.34 n/a 0.38 0.34
20.1% 31.2% 33.6% 25.1% 29.9% 26.7% 32.3% 42.9% 39.0% 36.4%