Immuneering Corp. (IMRX) intrinsic value & 10-year financials
Immuneering Corp. (IMRX) has a Graham intrinsic value of $128.68 per share. At $3.59 on Oct 17, 2026, the stock trades 97% below that value.
- Graham intrinsic value
- $128.68
- Share price (Oct 17, 2026)
- $3.59
- Price vs Graham value
- 97% below
- Market cap
- $158.0M
- Revenue (FY2025)
- —
- Revenue growth (7-yr CAGR)
- -63.0%
- ROIC (10-yr avg)
- -137.9%
- Free cash flow (FY2025)
- -$45.5M
IMRX 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | — | -$56.0M | -$1.27 | -$45.5M | — | -116.0% |
| FY2024 | — | -$61.0M | -$2.04 | -$55.1M | — | -274.9% |
| FY2023 | $0 | -$53.5M | -$1.88 | -$49.3M | — | -138.9% |
| FY2022 | $317.0K | -$50.5M | -$1.90 | -$44.8M | -16325.8% | -79.0% |
| FY2021 | $2.1M | -$33.5M | -$1.23 | -$30.9M | -1629.2% | -247.3% |
| FY2020 | $2.3M | -$17.0M | -$1.72 | -$14.7M | -739.0% | 28.9% |
| FY2019 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Immuneering Corp revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Immuneering Corp has historically struggled to out-earn its cost of capital, averaging just -51.7% ROIC.
Immuneering Corp capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Immuneering Corp is modeled at -63.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $128.68 per share.