(IMTX) Immatics - Overview
Sector: Healthcare | Industry: Biotechnology | Exchange: NASDAQ (USA) | Market Cap: 1.486m USD | Total Return: 123.5% in 12m
Avg Turnover: 5.74M
Qual. Beats: 0
Rev. Trend: -13.3%
Qual. Beats: 0
Warnings
Interest Coverage Ratio -237.6 is critical
Altman Z'' -12.61 < 1.0 - financial distress zone
Choppy
Tailwinds
No distinct edge detected
Immatics N.V. is a clinical-stage biotechnology firm headquartered in Germany, specializing in the development of T cell redirecting immunotherapies for solid tumors. The company utilizes two primary technological platforms: Adoptive Cell Therapies (ACT), which involve engineering a patients own immune cells, and TCR Bispecifics, which are antibody-like molecules designed to guide T cells to cancer targets. Its lead candidate, Anzu-cel (IMA203), targets the PRAME antigen and is currently undergoing Phase 2 clinical trials.
The company operates within the high-barrier oncology sector, where success depends heavily on the identification of specific peptide targets through proprietary mass spectrometry platforms. Immatics leverages a partnership-heavy business model, maintaining strategic collaborations with Bristol Myers Squibb (via Celgene), Moderna, and Genmab to offset research costs and accelerate clinical development. You can find more detailed financial metrics and sector comparisons on ValueRay.
The current pipeline includes early-stage candidates such as IMA204, targeting tumor stroma, and IMA401, a bispecific product candidate. These therapies aim to address the limitations of current treatments in treating solid tumors, which represent approximately 90% of adult human cancers but remain difficult to penetrate with standard immunotherapy.
- Phase 2 clinical data for IMA203 cell therapy impacts valuation
- Strategic collaborations with Moderna and Bristol Myers Squibb drive R&D funding
- Regulatory approval timelines for PRAME-targeting modalities influence long-term revenue
- High cash burn rates for clinical-stage trials necessitate future capital raises
- Expansion of TCR Bispecifics pipeline affects competitive positioning in solid tumors
| Net Income: -215.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.35 > 0.02 and ΔFCF/TA -8.16 > 1.0 |
| NWC/Revenue: 1.15k% < 20% (prev 359.2%; Δ 789.9% < -1%) |
| CFO/TA -0.34 > 3% & CFO -184.1m > Net Income -215.4m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 8.78 > 1.5 & < 3 |
| Outstanding Shares: last quarter (134.6m) vs 12m ago 10.77% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 6.31% > 50% (prev 22.46%; Δ -16.15% > 0%) |
| Interest Coverage Ratio: -237.6 > 6 (EBITDA TTM -212.0m / Interest Expense TTM 943k) |
| A: 0.79 (Total Current Assets 485.3m - Total Current Liabilities 55.3m) / Total Assets 543.8m |
| B: -1.55 (Retained Earnings -844.7m / Total Assets 543.8m) |
| C: -0.38 (EBIT TTM -224.1m / Avg Total Assets 592.8m) |
| D: -9.71 (Book Value of Equity -850.0m / Total Liabilities 87.6m) |
| Altman-Z'' = -12.61 = D |
| DSRI: 2.82 (Receivables 4.82m/6.58m, Revenue 37.4m/144.1m) |
| GMI: 0.73 (GM 100.0% / 72.94%) |
| AQI: 2.16 (AQ_t 0.01 / AQ_t-1 0.00) |
| SGI: 0.26 (Revenue 37.4m / 144.1m) |
| TATA: -0.06 (NI -215.4m - CFO -184.1m) / TA 543.8m) |
| Beneish M = -1.67 (Cap -4..+1) = CCC |
As of May 24, 2026, the stock is trading at USD 11.06 with a total of 400,436 shares traded.
Over the past week, the price has changed by +6.90%,
over one month by +3.20%,
over three months by +17.37% and
over the past year by +123.46%.
Immatics has received a consensus analysts rating of 4.86. Therefore, it is recommended to buy IMTX.
- StrongBuy: 6
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 18.8 | 69.8% |
P/S = 30.7802
P/B = 2.6812
Revenue TTM = 37.4m EUR
EBIT TTM = -224.1m EUR
EBITDA TTM = -212.0m EUR
Long Term Debt = 12.5m EUR (estimated: total debt 15.1m - short term 2.61m)
Short Term Debt = 2.61m EUR (from shortTermDebt, last quarter)
Debt = 15.1m EUR (from shortLongTermDebtTotal, last quarter) (leases 15.6m already included)
Net Debt = -438.9m EUR (calculated: Debt 15.1m - CCE 454.0m)
Enterprise Value = 837.8m EUR (1.28b + Debt 15.1m - CCE 454.0m)
Interest Coverage Ratio = -237.6 (Ebit TTM -224.1m / Interest Expense TTM 943k)
EV/FCF = -4.44x (Enterprise Value 837.8m / FCF TTM -188.5m)
FCF Yield = -22.50% (FCF TTM -188.5m / Enterprise Value 837.8m)
FCF Margin = -503.7% (FCF TTM -188.5m / Revenue TTM 37.4m)
Net Margin = -575.5% (Net Income TTM -215.4m / Revenue TTM 37.4m)
Gross Margin = unknown ((Revenue TTM 37.4m - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = 1.54 (Enterprise Value 837.8m / Total Assets 543.8m)
Interest Expense / Debt = 6.25% (Interest Expense 943k / Debt 15.1m)
Taxrate = 21.0% (US default 21%)
NOPAT = -177.0m (EBIT -224.1m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 8.78 (Total Current Assets 485.3m / Total Current Liabilities 55.3m)
Debt / Equity = 0.03 (Debt 15.1m / totalStockholderEquity, last quarter 456.3m)
Debt / EBITDA = 2.07 (negative EBITDA) (Net Debt -438.9m / EBITDA -212.0m)
Debt / FCF = 2.33 (negative FCF - burning cash) (Net Debt -438.9m / FCF TTM -188.5m)
Total Stockholder Equity = 473.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -36.33% (Net Income -215.4m / Total Assets 543.8m)
RoE = -16.34% (Net Income TTM -215.4m / Total Stockholder Equity 1.32b)
RoCE = -16.84% (EBIT -224.1m / Capital Employed (Equity 1.32b + L.T.Debt 12.5m))
RoIC = -36.04% (negative operating profit) (NOPAT -177.0m / Invested Capital 491.1m)
WACC = 10.00% (E(1.28b)/V(1.29b) * Re(10.06%) + D(15.1m)/V(1.29b) * Rd(6.25%) * (1-Tc(0.21)))
Discount Rate = 10.06% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 95.56 | Cagr: 22.90%
[DCF] Fair Price = unknown (Cash Flow -188.5m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.44 | # QB: 0
Revenue Correlation: -13.34 | Revenue CAGR: -6.37% | SUE: -0.16 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.48 | Chg30d=-3.15% | Revisions=-33% | Analysts=8
EPS next Quarter (2026-09-30): EPS=-0.49 | Chg30d=-3.31% | Revisions=-33% | Analysts=8
EPS current Year (2026-12-31): EPS=-1.91 | Chg30d=-9.38% | Revisions=-33% | GrowthEPS=-2.2% | GrowthRev=-18.2%
EPS next Year (2027-12-31): EPS=-1.89 | Chg30d=-6.69% | Revisions=-33% | GrowthEPS=+1.2% | GrowthRev=+20.3%
[Analyst] Revisions Ratio: -33%