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A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Immunocore Holdings's Debt-to-EBITDA or its related term are showing as below:
IMCR'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -119.05 Med: -1.25 Max: 32.04
Current: 32.04
During the past 8 years, the highest Debt-to-EBITDA Ratio of Immunocore Holdings was 32.04. The lowest was -119.05. And the median was -1.25.
IMCR's Debt-to-EBITDA is ranked worse than 97.03% of 303
companies
in the Biotechnology industry
Industry Median: 1.25
vs IMCR: 32.04
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Immunocore Holdings Debt-to-EBITDA Related Terms
Immunocore Holdings Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Immunocore Holdings's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
IMCR vs BCAX, SLBT, DMRA: Debt-to-EBITDA Comparison
For the Biotechnology subindustry, Immunocore Holdings's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Immunocore Holdings Debt-to-EBITDA vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Immunocore Holdings's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Immunocore Holdings's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Jun. 2026) EBITDA data.
Immunocore Holdings (IMCR) has a Debt-to-EBITDA of 35.92 as of Jun. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Immunocore Holdings. According to the industry distribution chart, Immunocore Holdings ranks #294 out of 303 companies in the Biotechnology industry, placing it in the top 97%.
Is Immunocore Holdings' Debt-to-EBITDA too high?
Immunocore Holdings' current Debt-to-EBITDA is 35.92. The Biotechnology industry median Debt-to-EBITDA is 1.25. Immunocore Holdings' value of 35.92 is 2773.6% above this industry median. Based on the distribution chart, Immunocore Holdings ranks #294 out of 303 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Immunocore Holdings has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Immunocore Holdings' Debt-to-EBITDA compare to BCAX and SLBT?
According to the Biotechnology industry distribution chart, Immunocore Holdings ranks #294 out of 303 companies for Debt-to-EBITDA. This places Immunocore Holdings in the lower half of its industry. The industry median Debt-to-EBITDA is 1.25. Immunocore Holdings' value of 35.92 is 2773.6% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Biotechnology company?
The median Debt-to-EBITDA among Biotechnology companies is 1.25, based on 303 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Immunocore Holdings's current Debt-to-EBITDA of 35.92 is 2773.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Immunocore Holdings. For the Biotechnology industry, the median Debt-to-EBITDA is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Immunocore Holdings's current Debt-to-EBITDA is 35.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Immunocore Holdings stock overvalued right now?
Based on GuruFocus' analysis, Immunocore Holdings (IMCR) is currently considered Modestly Undervalued. The stock's GF Value™ is $44.95, compared to a current price of $34.35 — trading 23.6% below its estimated fair value. The current Debt-to-EBITDA is 35.92 and 2773.6% above the Biotechnology industry median of 1.25. Immunocore Holdings' overall GF Score™ is 80/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Immunocore Holdings (IMCR), the current Debt-to-EBITDA is 35.92 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Immunocore Holdings (IMCR) Overvalued in 2026?
Based on GuruFocus' analysis, Immunocore Holdings stock appears to be undervalued.
The current stock price of $34.35 is trading 23.6% below its estimated GF Value™ of $44.95.
GuruFocus considers Immunocore Holdings to be Modestly Undervalued.
Key valuation signals for IMCR:
Debt-to-EBITDA: 35.92
GF Value™: $44.95 vs. price of $34.35 (23.6% below fair value)
Industry Position: 2773.6% above the Biotechnology median (#294 of 303)
No single metric tells the full story. See the IMCR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Immunocore Holdings PLC is a commercial-stage biotechnology company. Using its ImmTAX platform, the company is developing a deep pipeline in multiple therapeutic areas, including clinical stage programs in oncology and infectious disease, pre-clinical programs in autoimmune disease, and earlier pre-clinical programs across three therapeutic areas. The company's main product, KIMMTRAK, is used for the treatment of unresectable or metastatic uveal melanoma (mUM). The other drug candidates in its pipeline include Brenetafusp, IMC-P115C, IMC-T119C, IMC-R117C, IMC-S118AI, IMC-U120AI, and others, being developed as a potential treatment for various oncology, infectious, and autoimmune diseases.
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