Immutep Ltd. (IMMP) intrinsic value & 10-year financials

Immutep Ltd. (IMMP) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 19.8% a year to AUD 10.3M, with an average return on invested capital of -55.1%.

Graham intrinsic value
—
Revenue (FY2025)
AUD 10.3M
Revenue growth (10-yr CAGR)
19.8%
ROIC (10-yr avg)
-55.1%
Free cash flow (FY2025)
-AUD 62.1M

IMMP 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 AUD 10.3M -AUD 61.4M -AUD 0.04 -AUD 62.1M — -36.9%
FY2024 AUD 7.8M -AUD 42.7M -AUD 0.04 -AUD 34.9M — -26.2%
FY2023 AUD 5.2M -AUD 39.9M -AUD 0.04 -AUD 35.4M — -34.6%
FY2022 AUD 6.8M -AUD 32.2M -AUD 0.04 -AUD 30.3M — -38.5%
FY2021 AUD 4.0M -AUD 29.9M -AUD 5.03 -AUD 17.7M — -56.1%
FY2020 AUD 16.5M -AUD 13.5M -AUD 3.36 -AUD 10.9M — -46.7%
FY2019 AUD 7.5M -AUD 18.3M -AUD 0.57 -AUD 15.3M — -63.4%
FY2018 AUD 7.4M -AUD 12.7M -AUD 0.49 -AUD 7.8M — -42.4%
FY2017 AUD 4.2M -AUD 9.4M -AUD 0.41 -AUD 8.5M — -30.3%
FY2016 AUD 2.0M -AUD 62.0M -AUD 2.78 -AUD 11.3M — -175.6%

Source: annual 10-K filings on SEC EDGAR. Figures in AUD.

Executive summary

IMMUTEP Ltd is a consistent compounder, expanding top-line revenue at 19.8% annually over the past decade.

IMMUTEP Ltd 10-year average ROIC is N/A; capital efficiency cannot be assessed from the available history.

Over the decade, IMMUTEP Ltd shows that management has aggressively returned capital to shareholders by retiring 34.7% of outstanding shares.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, IMMUTEP Ltd is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-1.40 per share.

IMMP stock: frequently asked questions

What is the intrinsic value of Immutep Ltd. (IMMP) stock?

Graham's formula only works with positive earnings. Immutep Ltd. reported diluted EPS of -AUD 0.04 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

How fast has Immutep Ltd. grown?

Revenue went from AUD 2.0M in fiscal 2016 to AUD 10.3M in fiscal 2025, a compound annual growth rate of 19.8%. Net income was -AUD 61.4M in fiscal 2025.

Does Immutep Ltd. generate free cash flow?

Immutep Ltd. generated -AUD 62.1M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 10 reported years.

What is IMMP's return on invested capital?

Average ROIC over the last 10 fiscal years was -55.1%, and average return on equity was -55.1%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this IMMP data come from?

From Immutep Ltd.'s annual 10-K filings on SEC EDGAR, most recently filed Oct 24, 2025. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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