ImmunityBio (IBRX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

ImmunityBio

NasdaqGS•Healthcare•Biotechnology

$7.91-0.23(-0.03%)Pre-market

Market Cap

$8.90B

P/S

53.7x

ImmunityBio, Inc., a biotechnology company, focuses on innovating, developing, and commercializing next-generation immunotherapies designed to activate the patient's immune system and deliver durable protection against cancer and infectious diseases. Its platforms for the development of biologic products and product candidates that include cytokine fusion proteins, DNA and vaccine vectors, and cell therapies. The company's platform has generated first-in-human therapeutic agents that are planned to be studied in clinical trials in liquid and solid tumors. Its lead biologic product candidate includes Anktiva, an FDA-approved immunotherapy in combination with bacillus calmette-guérin (BCG) for the treatment of adult patients with BCG unresponsive non-muscle invasive bladder cancer with carcinoma in situ, with or without papillary tumors; and 3M-052, a synthetic TLR7/8 agonist and 3M-052 formulations and related technology. The company has collaboration agreements with National Cancer Institute; Serum Institute of India Private Limited; and BeOne Medicines Ltd. It has license agreement with 3M Innovative Properties Company and Access to Advanced Health Institute. ImmunityBio, Inc. is based in San Diego, California.

How this company scores

WeakMetricSide Score: 44/100

Grade capped at D — Negative equity — the balance sheet is insolvent. Strongest: Growth (16/25); weakest: Profitability (5/25).

Profitability5/25

Growth16/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality8/25

Strengths

Growing revenueInterest easily coveredConsistent growthNet cash position

Grade capped at D

Negative equity — the balance sheet is insolvent.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 53.7x5y range 17.3x – 11852.5x

Currently below its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $8.90B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $165.79M
Q. Revenue: $51.24M
TTM EBITDA: $-251.80M
TTM Op. Income: $-251.80M
Q. Op. Income: $-61.70M
TTM Net Income: $-992.36M
Q. Net Income: $-230.38M
EPS: $-0.22
Shares Out.: $1.05B

$165.79M in TTM revenue grew 192.9% YoY, reaching $51.24M last quarter. TTM EBITDA of $-251.80M and TTM operating income of $-251.80M show growth is flowing through to the bottom line. However, net income is negative at $992.36M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -120.4%
Op. Margin: -120.4%
Net Margin: -449.6%

Op. margin of -120.4% is up 149.4% YoY — cost efficiency is improving. Net margin at -449.6% Across the last 8 quarters, operating margin has risen for 7 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 53.7x
P/B Ratio: N/A

P/S of 53.7x and P/B of 0.0x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $628.50M
Cash: $75.67M
Long-Term Debt: N/A
Book Value: $-1.05B
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-66.49M
TTM Free Cash Flow: $-288.07M
FCF Margin: -173.8%
FCF / Net Income: 0.3

TTM FCF of $-288.07M on $-66.49M in operating cash flow. The FCF / Net Income ratio of 0.3x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has risen for 7 consecutive quarters — an improving trend.