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Immunocore Holdings PLC
NASDAQ:IMCR

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Immunocore Holdings PLC
NASDAQ:IMCR
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Price: 27.92 USD -3.02% Market Closed
Market Cap: $1.4B

P/S

2.7
Current
29%
Cheaper
vs 3-y average of 3.8

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
2.7
=
Market Cap
$1.6B
/
Revenue
£400m

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
2.7
=
Market Cap
$1.6B
/
Revenue
£400m

Valuation Scenarios

Immunocore Holdings PLC is trading below its 3-year average

If P/S returns to its 3-Year Average (3.8), the stock would be worth $39.38 (41% upside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-99%
Maximum Upside
+338%
Average Upside
50%
Scenario P/S Value Implied Price Upside/Downside
Current Multiple 2.7 $27.92
0%
3-Year Average 3.8 $39.38
+41%
5-Year Average 11.7 $122.25
+338%
Industry Average 0.5 $5.37
-81%
Country Average 0 $0.22
-99%

Forward P/S
Today’s price vs future revenue

Today's Market Cap Revenue Forward P/S
$1.6B
/
Jan 2026
£400m
=
2.7
Current
$1.6B
/
Dec 2026
£458.3m
=
3.5
Forward
$1.6B
/
Dec 2027
£495.9m
=
3.3
Forward
$1.6B
/
Dec 2028
£588m
=
2.8
Forward
$1.6B
/
Dec 2029
£825.3m
=
2
Forward
$1.6B
/
Dec 2030
£1.1B
=
1.5
Forward
$1.6B
/
Dec 2031
£1.2B
=
1.3
Forward
$1.6B
/
Dec 2032
£1.4B
=
1.2
Forward
$1.6B
/
Dec 2033
£1.4B
=
1.1
Forward

Forward P/S shows whether today’s P/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
P/S
P/E
All Countries
Close
Market Cap P/S P/E
UK
Immunocore Holdings PLC
NASDAQ:IMCR
1.4B USD 2.7 -30.1
FR
Pharnext SCA
OTC:PNEXF
6T USD 33 690 872.8 -160 127.7
US
Abbvie Inc
NYSE:ABBV
360.5B USD 5.9 86.1
US
Amgen Inc
NASDAQ:AMGN
182.2B USD 5 23.6
US
Gilead Sciences Inc
NASDAQ:GILD
159.9B USD 5.4 18.8
US
Epizyme Inc
F:EPE
94.1B EUR 2 091 -533.6
US
Vertex Pharmaceuticals Inc
NASDAQ:VRTX
107.5B USD 9 27.2
US
Regeneron Pharmaceuticals Inc
NASDAQ:REGN
72.5B USD 5.1 16.1
NL
argenx SE
XBRU:ARGX
40.6B EUR 11.4 36.7
US
Seagen Inc
F:SGT
39.3B EUR 20.1 -61.8
AU
CSL Ltd
ASX:CSL
60.6B AUD 2.7 29.4
P/S Multiple
Revenue Growth P/S to Growth
UK
Immunocore Holdings PLC
NASDAQ:IMCR
Average P/S: 3 063 002.8
2.7
14%
0.2
FR
Pharnext SCA
OTC:PNEXF
33 690 872.8
N/A N/A
US
Abbvie Inc
NYSE:ABBV
5.9
9%
0.7
US
Amgen Inc
NASDAQ:AMGN
5
3%
1.7
US
Gilead Sciences Inc
NASDAQ:GILD
5.4
5%
1.1
US
E
Epizyme Inc
F:EPE
2 091
N/A N/A
US
Vertex Pharmaceuticals Inc
NASDAQ:VRTX
9
11%
0.8
US
Regeneron Pharmaceuticals Inc
NASDAQ:REGN
5.1
10%
0.5
NL
argenx SE
XBRU:ARGX
11.4
28%
0.4
US
S
Seagen Inc
F:SGT
20.1
30%
0.7
AU
CSL Ltd
ASX:CSL
2.7
4%
0.7
P/E Multiple
Earnings Growth PEG
UK
Immunocore Holdings PLC
NASDAQ:IMCR
Average P/E: 34
Negative Multiple: -30.1
N/A N/A
FR
Pharnext SCA
OTC:PNEXF
Negative Multiple: -160 127.7 N/A N/A
US
Abbvie Inc
NYSE:ABBV
86.1
97%
0.9
US
Amgen Inc
NASDAQ:AMGN
23.6
20%
1.2
US
Gilead Sciences Inc
NASDAQ:GILD
18.8
16%
1.2
US
E
Epizyme Inc
F:EPE
Negative Multiple: -533.6 N/A N/A
US
Vertex Pharmaceuticals Inc
NASDAQ:VRTX
27.2
19%
1.4
US
Regeneron Pharmaceuticals Inc
NASDAQ:REGN
16.1
14%
1.2
NL
argenx SE
XBRU:ARGX
36.7
30%
1.2
US
S
Seagen Inc
F:SGT
Negative Multiple: -61.8 N/A N/A
AU
CSL Ltd
ASX:CSL
29.4
9%
3.3

Market Distribution

Higher than 95% of companies in United Kingdom
Percentile
95th
Based on 2 669 companies
95th percentile
2.7
Low
0 — 0
Typical Range
0 — 0
High
0 —
Distribution Statistics
United Kingdom
Min 0
30th Percentile 0
Median 0
70th Percentile 0
Max 767.5

Immunocore Holdings PLC
Glance View

Market Cap
1.4B USD
Industry
Biotechnology

Immunocore Holdings PLC stands as a pioneering force in the field of immunotherapy, leveraging its proprietary T-cell receptor (TCR) technology to transform the treatment landscape for various severe diseases. Rooted in cutting-edge science, the British biotech firm develops novel therapeutic agents targeting cancer, infectious diseases, and autoimmune conditions. Its leading platform technology, known as ImmTACs (Immune Mobilizing Monoclonal TCRs Against Cancer), ingeniously redirects T-cells—an integral component of the immune system—to recognize and obliterate cancerous cells in a highly targeted manner. By focusing on ultra-specific peptide-major histocompatibility complex (pMHC) targets, Immunocore meticulously designs its therapies to minimize off-target effects and maximize efficacy in tackling conditions that have eluded traditional treatment methods. Financially, Immunocore operates through a strategic blend of commercial and collaborative partnerships, alongside its independent pipeline advancements. It generates revenue by licensing its innovative technology to larger pharmaceutical entities that seek to add cutting-edge biologics to their portfolios. Additionally, milestone and royalty payments from collaborative research initiatives contribute significantly to its financial foundation. These partnerships not only bolster Immunocore's revenue streams but also accelerate its research and development efforts, enabling a faster path to market for its groundbreaking treatments. As a result, the company stands at the confluence of science and commerce, channeling its unique TCR technology to make meaningful strides in medical innovation and patient care.

IMCR Intrinsic Value
32.6 USD
Undervaluation 14%
Intrinsic Value
Price $27.92
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