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Stocks · Health care · Biological Products, (No Diagnostic Substances)

Immunocore Holdings plc

IMCR Clue Score50
United Kingdom Fiscal year ends December CIK 0001671927
$29.39 +1.03% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $29.39 −22.66% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 5 Feb 2021. 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 2018Revenue23.7Operating income−93.5Net income−71.6Fiscal year 2019Revenue25.7 +8.5%Operating income−118.3Net income−103.9EPS, diluted−4.66Fiscal year 2020Revenue30.1 +17.3%Operating income−86.2Net income−74.1EPS, diluted−2.79Fiscal year 2021Revenue4.1 −86.5%Operating income−174.6Net income−180.0EPS, diluted−4.24Fiscal year 2022Revenue174.4 +4,175.6%Operating income−51.7Net income−52.5EPS, diluted−1.15Fiscal year 2023Revenue249.4 +43.1%Operating income−59.6Net income−55.3EPS, diluted−1.13Fiscal year 2024Revenue310.2 +24.4%Operating income−70.5Net income−51.1EPS, diluted−1.02Fiscal year 2025Revenue400.0 +29.0%Operating income−45.4Net income−35.5EPS, diluted−0.71
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 23.7 25.7 30.1 4.1 174.4 249.4 310.2 400.0
Growth +8.5% +17.3% −86.5% +4,175.6% +43.1% +24.4% +29.0%
Operating income −93.5 −118.3 −86.2 −174.6 −51.7 −59.6 −70.5 −45.4
Net income −71.6 −103.9 −74.1 −180.0 −52.5 −55.3 −51.1 −35.5
Growth
EPS, diluted n/a −4.66 −2.79 −4.24 −1.15 −1.13 −1.02 −0.71

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2018Operating margin−395.1%Net margin−302.8%Free cash flow margin−85.0%Fiscal year 2019Operating margin−460.9%Net margin−404.9%Free cash flow margin−416.8%Fiscal year 2020Operating margin−286.2%Net margin−246.0%Free cash flow margin−213.6%Fiscal year 2021Operating margin−4,281.2%Net margin−4,414.6%Free cash flow margin−3,543.2%Fiscal year 2022Operating margin−29.7%Net margin−30.1%Free cash flow margin−29.5%Fiscal year 2023Operating margin−23.9%Net margin−22.2%Free cash flow margin−1.0%Fiscal year 2024Operating margin−22.7%Net margin−16.5%Free cash flow margin6.7%Fiscal year 2025Operating margin−11.3%Net margin−8.9%Free cash flow margin−3.8%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −395.1% −460.9% −286.2% −4,281.2% −29.7% −23.9% −22.7% −11.3%
Net margin −302.8% −404.9% −246.0% −4,414.6% −30.1% −22.2% −16.5% −8.9%
Free cash flow margin −85.0% −416.8% −213.6% −3,543.2% −29.5% −1.0% 6.7% −3.8%

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 2018Operating cash flow−16.6Capital expenditure−3.5Free cash flow−20.1Fiscal year 2019Operating cash flow−102.9Capital expenditure−4.1Free cash flow−107.0Fiscal year 2020Operating cash flow−61.3Capital expenditure−3.1Free cash flow−64.3Fiscal year 2021Operating cash flow−143.1Capital expenditure−1.4Free cash flow−144.5Fiscal year 2022Operating cash flow−49.2Capital expenditure−2.2Free cash flow−51.4Fiscal year 2023Operating cash flow2.9Capital expenditure−5.4Free cash flow−2.5Fiscal year 2024Operating cash flow26.1Capital expenditure−5.2Free cash flow20.9Fiscal year 2025Operating cash flow−10.7Capital expenditure−4.3Free cash flow−15.1 −172.1%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −16.6 −102.9 −61.3 −143.1 −49.2 2.9 26.1 −10.7
Capital expenditure −3.5 −4.1 −3.1 −1.4 −2.2 −5.4 −5.2 −4.3
Free cash flow −20.1 −107.0 −64.3 −144.5 −51.4 −2.5 20.9 −15.1
Growth −172.1%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2018Cash124.4Shareholders’ equity56.6Fiscal year 2019Cash74.0Total debt0.0Net cash (debt)74.0Shareholders’ equity14.8Debt to equity0.00Fiscal year 2020Cash176.7Total debt36.7Net cash (debt)140.0Shareholders’ equity76.9Debt to equity0.48Fiscal year 2021Cash321.1Total debt37.2Net cash (debt)283.9Shareholders’ equity233.7Debt to equity0.16Fiscal year 2022Cash402.5Total debt39.5Net cash (debt)363.0Shareholders’ equity338.9Debt to equity0.12Fiscal year 2023Cash442.6Shareholders’ equity368.8Fiscal year 2024Cash455.7Shareholders’ equity360.7Fiscal year 2025Cash467.7Shareholders’ equity381.0
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 124.4 74.0 176.7 321.1 402.5 442.6 455.7 467.7
Total debt n/a 0.0 36.7 37.2 39.5 n/a n/a n/a
Net cash (debt) n/a 74.0 140.0 283.9 363.0 n/a n/a n/a
Shareholders’ equity 56.6 14.8 76.9 233.7 338.9 368.8 360.7 381.0
Debt to equity n/a 0.00 0.48 0.16 0.12 n/a n/a n/a

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

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year 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
Revenue and profit
23.7 25.7 30.1 4.1 174.4 249.4 310.2 400.0
Growth +8.5% +17.3% −86.5% +4,175.6% +43.1% +24.4% +29.0%
n/a n/a 0.0 0.0 1.1 1.0 2.7 5.1
83.6 100.0 74.8 73.2 89.2 n/a n/a n/a
n/a n/a 45.7 88.4 93.7 n/a n/a n/a
−93.5 −118.3 −86.2 −174.6 −51.7 −59.6 −70.5 −45.4
Growth
−88.2 −126.2 −87.4 −179.9 −40.9 −60.9 −52.9 −19.1
−16.5 −22.3 −13.3 0.2 11.7 −5.6 −1.9 16.4
−71.6 −103.9 −74.1 −180.0 −52.5 −55.3 −51.1 −35.5
Growth
Per share
n/a −4.66 −2.79 −4.24 −1.15 −1.13 −1.02 −0.71
n/a −4.66 −2.79 −4.24 −1.15 −1.13 −1.02 −0.71
Growth
n/a 22.3 26.5 42.5 45.7 48.9 50.0 50.3
21.6 22.3 26.5 42.5 45.7 48.9 50.0 50.3
Growth +3.4% +19.0% +60.2% +7.6% +6.9% +2.3% +0.7%

† The diluted share count jumps at 2021, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 67.7% a year over five years.
  • Operating margin is up 274.9 points on five years ago, at -11.3%.
  • A net loss in 8 of 8 years on file.