INmune Bio, Inc. (INMB) 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

-44.6%

$0.76

vs $1.38 price

Levered DCF

$0.83

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

-9.17

Distress zone

Rating

C+

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	FY2018
P/E	-0.84×	-2.21×	-6.74×	-4.17×	-5.43×	-17.05×	-6.52×	-7.2×
P/B	1.76×	2.9×	5.31×	1.89×	2.05×	5.33×	2.52×	5.42×
P/S	829.46×	6,652.75×	1,306.23×	303.9×	909.04×	18,766.67×	0×	0×
EV / EBITDA	-0.39×	-1.75×	-663.13×	-56.98×	-88.42×	0×	-6.87×	3,889,287.22×
Gross margin	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	0.0%	0.0%
Operating margin	-61738.0%	-304535.7%	-19187.7%	-6938.8%	-16106.6%	-111163.6%	0.0%	0.0%
Net margin	-91866.0%	-300585.7%	-19360.0%	-7299.2%	-16762.4%	-109990.9%	0.0%	0.0%
Current ratio	3.55×	3.14×	2.16×	5.92×	18.95×	13.51×	11.09×	1.03×
Debt / equity	0.04×	0.01×	0.27×	0.25×	0.19×	0×	0.01×	0×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
Dividend yield	0.0%	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%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-195.3%	-131.1%	-78.7%	-45.4%	-37.8%	-31.2%	-32.5%	-75.2%
Return on invested capital	-125.7%	-131.3%	-61.2%	-34.2%	-30.5%	-31.4%	-32.6%	-75.2%
Return on assets	-142.0%	-106.4%	-52.6%	-33.4%	-30.4%	-29.8%	-31.4%	-71.6%
Free cash flow yield	-57.0%	-35.8%	-5.9%	-20.0%	-26.4%	-4.3%	-9.0%	-2.3%
Earnings yield	-110.8%	-45.2%	-14.8%	-24.0%	-18.4%	-5.9%	-12.9%	-13.9%
Enterprise value	$17.8M	$72.6M	$177.1M	$76.8M	$105M	$184.6M	$52.8M	$89.5M
Net debt / EBITDA	0.52×	0.49×	95.17×	27.33×	50.19×	0×	0.89×	-8,095.83×
Cash conversion cycle (days)	33,149	36,735	5,751	8,257	11,099	0	0	0