Discounted Cash Flow

Immunocore Holdings Plc. ADR

IMCR · Based on 10 years of SEC filings

DCF estimate unavailable — only_0_profitable_out_of_last_5

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income
Dividends

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2018 $23.7m $-88.2m $-20.1m -372.8% $-3.32
2019 $25.7m (8.5%) $-126.2m (-43.1%) $-105.5m (-424.3%) -491.6% (-31.9%) $-4.66 (-40.4%)
2020 $0 (-100.0%) $-87.4m (30.8%) $-63.6m (39.6%) $-2.79 (40.1%)
2021 $3.0m $-140.9m (-61.3%) $-97.1m (-52.6%) -4682.0% $-3.10 (-11.1%)
2022 $116.8m (3780.7%) $-44.1m (68.7%) $-27.7m (71.5%) -37.8% (99.2%) $-0.90 (71.0%)
2023 $249.4m (113.5%) $-59.6m (-35.1%) $-2.5m (91.0%) -23.9% (36.7%) $-1.13 (-25.6%)
2024 $310.2m (24.4%) $-70.5m (-18.1%) $20.9m (940.6%) -22.7% (5.0%) $-1.02 (9.7%)
2025 $400.0m (29.0%) $-45.4m (35.6%) $-15.1m (-172.1%) -11.3% (50.1%) $-0.71 (30.4%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model

only_0_profitable_out_of_last_5

Once the company meets all DCF eligibility criteria (sufficient history, profitability, growth trends), an estimate will become available automatically. No action is needed.