IMCR
Immunocore Holdings plc
IMCR's outlook is improving, though it still trails on the overall score.
LLY
Eli Lilly and Company
LLY has the edge over IMCR overall, supported by stronger fundamentals and stronger modeled upside.
IMCR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Under pressure | |
| Unavailable |
IMCR's revenue is currently stable, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
IMCR PE Valuation
IMCR has no meaningful PE right now: it lost money over the past year.
LLY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 27x | $845 | -41% |
| Forward | 30x | $1,427 | — |
| Current | 46x | $1,427 | — |
| Fair | 48x | $1,466 | +2.7% |
| Expensive | 85x | $2,612 | +83% |
Historical ranges are pointers, not guarantees.
LLY's PE is in its fair range at 46x. If earnings grow as analysts expect, today's price would be 30x next year's earnings, in its cheap range.
IMCR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect IMCR's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
LLY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for LLY, with profitability improving.
IMCR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.66 | -$0.09 |
| Q2 2026 | -$0.38 | +$0.02 |
| Q1 2026 | -$0.56 | -$0.13 |
| Q4 2025 | -$0.71 | +$0.31 |
| Q3 2025 | -$0.57 | +$0.41 |
| Q2 2025 | -$0.40 | +$0.70 |
| Q1 2025 | -$0.43 | +$0.82 |
| Q4 2024 | -$1.02 | +$0.21 |
IMCR is still losing money, but far less than before: $0.66 per share over the past year, against $4.12 at its worst in late 2021.
LLY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $46.82 | +52% |
| Q3 2026 | $30.81 | +51% |
| Q2 2026 | $29.80 | +95% |
| Q1 2026 | $28.15 | +129% |
| Q4 2025 | $22.95 | +96% |
| Q3 2025 | $20.44 | +121% |
| Q2 2025 | $15.30 | +88% |
| Q1 2025 | $12.29 | +81% |
| Q4 2024 | $11.71 | +102% |
LLY has the edge over IMCR on earnings quality, reporting a profit while its opponent remains loss making.
IMCR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $102.2M | -1.4% |
| Q2 2026 | $115.9M | +18% |
| Q1 2026 | $106.7M | +14% |
| Q4 2025 | $104.5M | +24% |
| Q3 2025 | $103.7M | +29% |
| Q2 2025 | $98M | +30% |
| Q1 2025 | $93.9M | +33% |
| Q4 2024 | $84.1M | +13% |
IMCR's revenue is growing: $102M last quarter, down 1.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -13% | -6.4 points |
| Q2 2026 | -2.6% | +13 points |
| Q1 2026 | 6.8% | +11 points |
| Q4 2025 | -19% | +4.3 points |
| Q3 2025 | -6.9% | +3.7 points |
| Q2 2025 | -15% | +6.1 points |
| Q1 2025 | -3.9% | +34 points |
| Q4 2024 | -23% | +1.2 points |
IMCR's operating margin was −13% last quarter, down 6.4 points from the same quarter a year ago.
LLY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.4B | +39% |
| Q2 2026 | $23B | +48% |
| Q1 2026 | $19.8B | +56% |
| Q4 2025 | $19.3B | +43% |
| Q3 2025 | $17.6B | +54% |
| Q2 2025 | $15.6B | +38% |
| Q1 2025 | $12.7B | +45% |
| Q4 2024 | $13.5B | +45% |
LLY has the edge over IMCR on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 34% | -6.6 points |
| Q2 2026 | 40% | -3.3 points |
| Q1 2026 | 45% | +18 points |
| Q4 2025 | 43% | +5.6 points |
| Q3 2025 | 41% | +27 points |
| Q2 2025 | 44% | +12 points |
| Q1 2025 | 27% | -1.8 points |
| Q4 2024 | 37% | +10 points |
LLY has the edge over IMCR on profitability, with a higher operating margin.
IMCR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $17.7M | +$22.9M |
| Q2 2026 | $15.1M | -41% |
| Q1 2026 | -$15.6M | -11455% |
| Q4 2025 | -$35.5M | -$18M |
| Q3 2025 | -$5.2M | -126% |
| Q2 2025 | $25.6M | +10% |
| Q1 2025 | $137K | +$5.2M |
| Q4 2024 | -$17.5M | +$1M |
IMCR has burned cash in most quarters: −$18M over the past year, against $3M the year before.
LLY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $8.2B | +22% |
| Q2 2026 | $7.8B | +458% |
| Q1 2026 | $3B | +1826% |
| Q4 2025 | $677.9M | -31% |
| Q3 2025 | $6.7B | +186% |
| Q2 2025 | $1.4B | +476% |
| Q1 2025 | $156.1M | -13% |
| Q4 2024 | $977.8M | +$2.4B |
LLY has the edge over IMCR on cash generation, producing positive trailing cash flow while its opponent burns cash.
IMCR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.1% | +585K shares |
| 1 year | +2.3% | +1.2M shares |
| 3 years | -4.8% | -2.6M shares |
| 5 years | +18% | +7.8M shares |
| Available history | +89% | +24.3M shares |
IMCR has 52M diluted shares, up 2.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
LLY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -300K shares |
| 1 year | -0.6% | -5.4M shares |
| 3 years | -0.7% | -6.4M shares |
| 5 years | -1.9% | -17.4M shares |
| Available history | -4.5% | -42.3M shares |
LLY has the edge over IMCR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $377M |
| Q2 2026 | $1.6B |
| Q1 2026 | $2.4B |
| Q4 2025 | $1.5B |
| Q3 2025 | $708.1M |
| Q2 2025 | $692.2M |
| Q1 2025 | $1.2B |
| Q4 2024 | $2.1B |
LLY spent $5.8B buying back its own shares over the past year, up 26% from the year before.
IMCR Net Leverage
IMCR's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
LLY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 2.0x | Healthy |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 2.1x | Moderate |
LLY's net debt is about 1.2 years of its operating earnings (EBITDA), about the same as a year ago.
IMCR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.0 | Neutral |
| Stochastic | 30.2 | Neutral |
IMCR's weekly RSI is 45 (neutral) and its Stochastic is 30 (neutral).
LLY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.3 | Neutral |
| Stochastic | 84.1 | Overbought |
LLY's weekly RSI is 68 (neutral) and its Stochastic is 84 (overbought).
IMCR PE vs Healthcare Sector
IMCR has no meaningful PE right now: it lost money over the past year.
LLY PE vs Healthcare Sector
| Metric | LLY | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 26x | 79% above |
| PE % | 48 | 29 | 19 pts above |
LLY is trading at 46x earnings, a 79% premium to the Healthcare sector's median of 26x.
IMCR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $30.3 | 0.7% above |
| 20 week MA | $32.6 | 6.6% below |
| 50 week MA | $32.1 | 5% below |
| 100 week MA | $32.1 | 5.1% below |
| 200 week MA | $42.0 | 27% below |
IMCR has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 27% below its 200-week average.
LLY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,279.4 | 12% above |
| 20 week MA | $1,218.8 | 17% above |
| 50 week MA | $1,102.2 | 29% above |
| 100 week MA | $954.1 | 50% above |
| 200 week MA | $797.5 | 79% above |
LLY has the edge over IMCR on trend strength, trading above more of its moving averages.
IMCR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $43.2 | $35.4 | -18% |
| 2022 | $35.4 | $57.8 | +63% |
| 2023 | $57.8 | $68.3 | +18% |
| 2024 | $68.3 | $29.2 | -57% |
| 2025 | $29.2 | $36.1 | +24% |
| 2026 YTD | $36.1 | $30.5 | -16% |
IMCR has finished higher in three of the last five years. It's down 16% so far in 2026.
LLY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $131.5 | $166.7 | +27% |
| 2021 | $166.7 | $273.1 | +64% |
| 2022 | $273.1 | $367.9 | +35% |
| 2023 | $367.9 | $582.9 | +58% |
| 2024 | $582.9 | $783.2 | +34% |
| 2025 | $783.2 | $1,077.8 | +38% |
| 2026 YTD | $1,077.8 | $1,427.3 | +32% |
LLY has the edge over IMCR on returns for 2026, with the stronger performance.