IMTX
Immatics N.V.
IMTX trails on the overall score without a compensating advantage in the available component scores.
LLY
Eli Lilly and Company
LLY has the edge over IMTX overall, supported by stronger fundamentals and stronger modeled upside.
IMTX Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| Weak | |
| Strong |
IMTX's balance sheet is currently strong, but its revenue, profitability and cash flow are under pressure.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
IMTX PE Valuation
IMTX 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.
IMTX Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong decline | |
| -- | |
| Limited | |
| Low |
Analysts expect IMTX's losses to grow, with revenue declining. 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.
IMTX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$1.77 | -$1.15 |
| Q1 2026 | -$1.90 | -$1.73 |
| Q4 2025 | -$1.79 | -1153% |
| Q3 2025 | -$0.97 | -$0.28 |
| Q2 2025 | -$0.62 | +$0.30 |
| Q1 2025 | -$0.17 | +$0.92 |
| Q4 2024 | $0.17 | +$1.51 |
| Q3 2024 | -$0.69 | +$0.50 |
IMTX is still losing money, but far less than before: $1.77 per share over the past year, against $4.09 at its worst in mid-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 IMTX on earnings quality, reporting a profit while its opponent remains loss making.
IMTX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $10.2M | +93% |
| Q1 2026 | $8.5M | -59% |
| Q4 2025 | $22M | -65% |
| Q3 2025 | $5.8M | -90% |
| Q2 2025 | $5.3M | -75% |
| Q1 2025 | $20.6M | -39% |
| Q4 2024 | $62.5M | +253% |
| Q3 2024 | $56.2M | +753% |
IMTX's revenue is recovering but still below its 2022 peak: $10M last quarter, up 93% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -735% | +387 points |
| Q1 2026 | -868% | -678 points |
| Q4 2025 | -197% | -198 points |
| Q3 2025 | -1053% | -1054 points |
| Q2 2025 | -1122% | -980 points |
| Q1 2025 | -190% | -146 points |
| Q4 2024 | 1.6% | +176 points |
| Q3 2024 | 1% | +562 points |
IMTX's operating margin was −735% last quarter, up 387 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 IMTX 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 IMTX on profitability, with a higher operating margin.
IMTX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$69M | -$23.8M |
| Q1 2026 | -$48.3M | -$6.9M |
| Q4 2025 | -$65.1M | +$1.8M |
| Q3 2025 | -$50.9M | -$10.3M |
| Q2 2025 | -$45.1M | -$5.1M |
| Q1 2025 | -$41.5M | +$5.2M |
| Q4 2024 | -$66.9M | -186% |
| Q3 2024 | -$40.6M | +$557.7K |
IMTX has burned cash in most quarters: −$233M over the past year, against −$194M 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 IMTX on cash generation, producing positive trailing cash flow while its opponent burns cash.
IMTX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.5% | +2M shares |
| 1 year | +12% | +15.1M shares |
| 3 years | +77% | +59.4M shares |
| 5 years | +117% | +73.8M shares |
| Available history | +117% | +73.8M shares |
IMTX has 137M diluted shares, up 12% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
IMTX hasn't bought back shares in the past year.
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 IMTX 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.
IMTX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2024 | -6.4x | Net Cash |
| Q4 2022 | -3.6x | Net Cash |
| Q3 2022 | -7.9x | Net Cash |
| Q2 2022 | -13.0x | Net Cash |
| Q1 2022 | -20.1x | Net Cash |
IMTX has more cash than debt.
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.
IMTX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.4 | Neutral |
| Stochastic | 11.5 | Oversold |
IMTX's weekly RSI is 33 (neutral) and its Stochastic is 12 (oversold).
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).
IMTX PE vs Healthcare Sector
| Metric | IMTX | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
IMTX 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.
IMTX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $7.19 | 9.3% below |
| 20 week MA | $8.45 | 23% below |
| 50 week MA | $9.48 | 31% below |
| 100 week MA | $7.91 | 18% below |
| 200 week MA | $9.15 | 29% below |
IMTX is in a downtrend: it's below all five of its weekly moving averages, and 29% 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 IMTX on trend strength, trading above more of its moving averages.
IMTX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.4 | $9.99 | -3.9% |
| 2021 | $9.99 | $13.0 | +30% |
| 2022 | $13.0 | $8.51 | -34% |
| 2023 | $8.51 | $10.5 | +24% |
| 2024 | $10.5 | $7.13 | -32% |
| 2025 | $7.13 | $10.2 | +43% |
| 2026 YTD | $10.2 | $6.52 | -36% |
IMTX has finished lower in three of the last six years. It's down 36% 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 IMTX on returns for 2026, with the stronger performance.