Immunocore Holdings (IMCR) Gross Margin (2021 - 2026)
Immunocore Holdings (IMCR) posted quarterly Gross Margin of 99.59% for Q1 2026, up 48.0% year-on-year from 67.29% in Q1 2025, and up 2.24% on a QoQ basis from 97.41% in Q4 2025.
Immunocore Holdings (IMCR) Gross Margin (2021 - 2026) Analysis & Trends
Immunocore Holdings (IMCR) has reported Gross Margin for 6 consecutive years, with 99.59% the latest figure, recorded in Q1 2026.
- Quarterly Gross Margin rose 48.0% year-over-year to 99.59% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 98.86% (down 14.0% YoY) and the FY2025 annual result came in at 98.73%, down 39.0% from the prior year.
- Gross Margin grew to 99.59% in Q1 2026 per IMCR's latest filing, from 97.41% in the prior quarter.
- Over the last five years, Gross Margin for IMCR reached as high as 99.85% in Q3 2022 and fell as low as 97.41% in Q4 2025.
- A 5-year average of 99.18% and a median of 99.54% in 2025 frame the typical range for Gross Margin.
- The largest YoY upside for Gross Margin was 120 bps in 2025 against a maximum downside of 219 bps in 2025.
- Year by year, Gross Margin stood at 99.77% in 2022, then declined by 0 bps to 99.71% in 2023, then dropped by 0 bps to 99.61% in 2024, then retreated by 2 bps to 97.41% in 2025, then grew by 2 bps to 99.59% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 99.59%, 97.41%, and 99.51% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Oculis Holding AG | 68,785.72 Bn | 68,785.72 Bn | - | - |
| 2 | Nanobiotix | 1,895.57 Bn | 1,895.51 Bn | - | - |
| 3 | BeOne Medicines | 471.35 Bn | 466.56 Bn | 1.35 Bn | 88.95% |
| 4 | NuCana | 279.75 Bn | 279.75 Bn | - | - |
| 5 | Vertex Pharmaceuticals | 120.24 Bn | 113.00 Bn | 2.59 Bn | 86.85% |
| 6 | Regeneron Pharmaceuticals | 67.80 Bn | 59.04 Bn | 3.31 Bn | 91.79% |
| 7 | Belite Bio | 62.51 Bn | 62.51 Bn | - | - |
| 8 | Argenx Se | 57.38 Bn | 57.38 Bn | 1.41 Bn | 90.68% |
| 9 | Revolution Medicines | 37.78 Bn | 37.78 Bn | - | - |
| 10 | Immunocore Holdings | 1.80 Bn | 957.43 Mn | 106.24 Mn | 99.59% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 99.59% |
| Dec 31, 2025 | 97.41% |
| Sep 30, 2025 | 99.51% |
| Jun 30, 2025 | 98.94% |
| Mar 31, 2025 | 99.11% |
| Dec 31, 2024 | 99.61% |
| Sep 30, 2024 | 99.44% |
| Jun 30, 2024 | 97.74% |
| Mar 31, 2024 | 99.65% |
| Dec 31, 2023 | 99.71% |
| Sep 30, 2023 | 99.57% |
| Jun 30, 2023 | 98.17% |
| Mar 31, 2023 | 99.60% |
| Dec 31, 2022 | 99.77% |
| Sep 30, 2022 | 99.85% |
| Jun 30, 2022 | 99.23% |
| Dec 31, 2021 | 100.00% |
| Sep 30, 2021 | 100.00% |