Superworth

Immunocore profit margin IMCR

Gross, operating and net profit as a share of revenue over the last twelve months, from 2023.

Net margin, 12 months
−4.2%
Operating margin, 12 months
−5.2%
Net margin on a year earlier
+1.5 pts
Peer median
20.9%

Over the twelve months to Jun 30, 2026, Immunocore kept −4.2% of its revenue as net profit, with an operating margin of −5.2% and a gross margin of 98.9%.

The median for 9 biotech stocks of a similar size is 20.9%.

Profit margin over time

GrossOperatingNet

Open the interactive chart, with overlays and comparisons

Fiscal year by fiscal year

Fiscal yearNet marginOperating marginGross margin
FY2025−8.9%−11.3%98.7%
FY2024−16.5%−22.7%99.1%
FY2023−22.2%−23.9%99.6%

Quarter by quarter

QuarterEndedNet margin, 12 monthsChange on a yearOperating margin
Q2 FY26−4.2%+1.5 pts−5.2%
Q1 FY26−6.7%−0.2 pts−8.3%
Q4 FY25−8.9%+7.6 pts−11.3%
Q3 FY25−7.7%+8.2 pts−11.9%
Q2 FY25−5.7%+13.8 pts−13.0%
Q1 FY25−6.5%+16.2 pts−14.3%
Q4 FY24−16.5%+5.7 pts−22.7%
Q3 FY24−15.9%n/a−23.0%
Q2 FY24−19.5%n/a−26.2%
Q1 FY24−22.7%n/a−26.9%
Q4 FY23−22.2%n/a−23.9%
Q3 FY23n/an/an/a

Against its peers

Companies in Biotechnology nearest Immunocore's size, closest first, today.

CompanyProfit margin
IMCRImmunocore−4.2%
VCELVericel7.9%
ADMAAdma Biologics33.0%
MGTXMeiraGTx19.9%
KRYSKrystal Biotech54.8%
RGENRepligen5.3%
TECHBIO-TECHNE15.0%
PLXProtalix BioTherapeutics23.5%
HALOHalozyme Therapeutics24.9%
NBIXNeurocrine Biosciences20.9%
Peer median20.9%

Where Immunocore ranks

What the profit margin tells you

Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).

Compare within an industry. 10% is superb for a retailer and poor for a software company.

More on Immunocore

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.