Immuneering Corporation (IMRX) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-19.7%

$2.80

vs $3.49 price

Levered DCF

$2.84

After debt service

Piotroski score

0 / 9

Weak

Altman Z-score

6.81

Safe zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-5.18×	-1.08×	-3.91×	-2.59×	-12.73×	-13.96×	-29.32×
P/B	1.33×	1.59×	2.31×	1.17×	2.73×	-10.57×	-36.41×
P/S	0×	0×	0×	403.77×	204.62×	102.82×	123.8×
EV / EBITDA	-2.96×	-0.53×	-2.65×	-1.17×	-10.57×	-11.83×	-30.5×
Gross margin	0.0%	0.0%	0.0%	50.1%	44.6%	44.6%	36.3%
Operating margin	0.0%	0.0%	0.0%	-16325.8%	-1629.2%	-739.0%	-327.7%
Net margin	0.0%	0.0%	0.0%	-15937.3%	-1612.3%	-737.2%	-401.6%
Current ratio	17.5×	5.28×	11.35×	13.5×	27.04×	16.73×	27.83×
Debt / equity	0.02×	0.1×	0.05×	0.04×	0.03×	-0.03×	0×
Interest coverage	0×	0×	0×	0×	0×	0×	-17.91×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-25.6%	-147.5%	-59.0%	-46.0%	-21.5%	75.8%	118.1%
Return on invested capital	-26.7%	-140.7%	-61.5%	-45.1%	-20.8%	-46.9%	-46.3%
Return on assets	-24.2%	-115.8%	-52.1%	-41.3%	-20.1%	-44.3%	-54.7%
Free cash flow yield	-15.7%	-83.5%	-23.6%	-35.0%	-7.3%	-6.2%	-1.9%
Earnings yield	-19.3%	-92.5%	-25.6%	-39.5%	-7.9%	-7.2%	-3.2%
Enterprise value	$164.8M	$34M	$153.9M	$60.2M	$356.1M	$201.2M	$223.9M
Net debt / EBITDA	2.24×	0.5×	0.95×	1.32×	2.06×	2.14×	1.88×
Cash conversion cycle (days)	-806	0	0	-7,268	-398	-343	-48