Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Immunocore Holdings's annualized net income for the quarter that ended in Mar. 2026 was $51.9 Mil. Immunocore Holdings's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $387.4 Mil. Therefore, Immunocore Holdings's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 13.39%.
The historical rank and industry rank for Immunocore Holdings's Return-on-Tangible-Equity or its related term are showing as below:
IMCR'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -300.29 Med: -67.86 Max: -7.11
Current: -7.11
During the past 8 years, Immunocore Holdings's highest Return-on-Tangible-Equity was -7.11%. The lowest was -300.29%. And the median was -67.86%.
IMCR's Return-on-Tangible-Equity is ranked better than 72.35% of 1197
companies
in the Biotechnology industry
Industry Median: -42.4
vs IMCR: -7.11
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Immunocore Holdings Return-on-Tangible-Equity Related Terms
Immunocore Holdings Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Immunocore Holdings's Return-on-Tangible-Equity 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 MAZE, DMRA, AVBP: Return-on-Tangible-Equity Comparison
For the Biotechnology subindustry, Immunocore Holdings's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Immunocore Holdings's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Immunocore Holdings's Return-on-Tangible-Equity 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 Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 13.39% mean?
Immunocore Holdings (IMCR) has a Return-on-Tangible-Equity of 13.39% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Immunocore Holdings and its competitors. According to the industry distribution chart, Immunocore Holdings ranks #331 out of 1197 companies in the Biotechnology industry, placing it in the top 27.7%.
Is Immunocore Holdings' Return-on-Tangible-Equity too high?
Immunocore Holdings' current Return-on-Tangible-Equity is 13.39%. Based on the distribution chart, Immunocore Holdings ranks #331 out of 1197 companies in the Biotechnology industry, which is above the industry midpoint. Overall, Immunocore Holdings has a GF Score™ of 76/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Immunocore Holdings' Return-on-Tangible-Equity compare to MAZE and DMRA?
According to the Biotechnology industry distribution chart, Immunocore Holdings ranks #331 out of 1197 companies for Return-on-Tangible-Equity. This puts Immunocore Holdings in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for a Biotechnology company?
A good Return-on-Tangible-Equity depends on the Biotechnology industry context. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Immunocore Holdings and its competitors. Immunocore Holdings's current Return-on-Tangible-Equity is 13.39%. 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 Possible Value Trap. The stock's GF Value™ is $46.19, compared to a current price of $31.95 — trading 30.8% below its estimated fair value. The current Return-on-Tangible-Equity is 13.39%. Immunocore Holdings' overall GF Score™ is 76/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Immunocore Holdings (IMCR), the current Return-on-Tangible-Equity is 13.39% as of Mar. 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 $31.95 is trading 30.8% below its estimated GF Value™ of $46.19.
GuruFocus considers Immunocore Holdings to be Possible Value Trap.
Key valuation signals for IMCR:
Return-on-Tangible-Equity: 13.39%
GF Value™: $46.19 vs. price of $31.95 (30.8% below fair value)
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.
76GF Score
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