Immunocore Holdings (IMCR) Operating Margin (2021 - 2026)
Immunocore Holdings (IMCR) posted quarterly Operating Margin of 6.82% for Q1 2026, up 1068.0% year-on-year from 0.58% in Q1 2025, and up 136.21% on a QoQ basis from 18.85% in Q4 2025.
Immunocore Holdings (IMCR) Operating Margin (2021 - 2026) Analysis & Trends
Immunocore Holdings (IMCR) has reported Operating Margin for 6 consecutive years, with 6.82% the latest figure, recorded in Q1 2026.
- Quarterly Operating Margin rose 1068.0% year-over-year to 6.82% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 8.35% (up 592.0% YoY) and the FY2025 annual result came in at 11.34%, up 1138.0% from the prior year.
- Operating Margin improved to 6.82% in Q1 2026 per IMCR's latest filing, from 18.85% in the prior quarter.
- Over the last five years, Operating Margin for IMCR reached as high as 14.98% in Q3 2022 and fell as low as 51.43% in Q2 2022.
- A 5-year average of 19.34% and a median of 21.53% in 2023 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2022 — Operating Margin surged 53743 bps — and 2023, when it slumped 3679 bps.
- Year by year, Operating Margin stood at 46.45% in 2022, then soared by 48 bps to 24.3% in 2023, then increased by 5 bps to 23.14% in 2024, then rose by 19 bps to 18.85% in 2025, then jumped by 136 bps to 6.82% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 6.82%, 18.85%, and 6.92% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating 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 | 16.51% |
| 4 | NuCana | 279.75 Bn | 279.75 Bn | - | - |
| 5 | Vertex Pharmaceuticals | 120.24 Bn | 113.00 Bn | 2.59 Bn | 38.10% |
| 6 | Regeneron Pharmaceuticals | 67.80 Bn | 59.04 Bn | 3.31 Bn | 17.83% |
| 7 | Belite Bio | 62.51 Bn | 62.51 Bn | - | - |
| 8 | Argenx Se | 57.38 Bn | 57.38 Bn | 1.41 Bn | 31.68% |
| 9 | Revolution Medicines | 37.78 Bn | 37.78 Bn | - | - |
| 10 | Immunocore Holdings | 1.80 Bn | 957.43 Mn | 106.24 Mn | 6.82% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 6.82% |
| Dec 31, 2025 | -18.85% |
| Sep 30, 2025 | -6.92% |
| Jun 30, 2025 | -15.18% |
| Mar 31, 2025 | -3.85% |
| Dec 31, 2024 | -23.14% |
| Sep 30, 2024 | -10.59% |
| Jun 30, 2024 | -21.24% |
| Mar 31, 2024 | -37.57% |
| Dec 31, 2023 | -24.30% |
| Sep 30, 2023 | -21.81% |
| Jun 30, 2023 | -23.02% |
| Mar 31, 2023 | -26.89% |
| Dec 31, 2022 | -46.45% |
| Sep 30, 2022 | 14.98% |
| Jun 30, 2022 | -51.43% |
| Dec 31, 2021 | -573.82% |
| Sep 30, 2021 | -522.45% |