WallStSmart

Immunocore Holdings Ltd (IMCR)vsNovartis AG ADR (NVS)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Novartis AG ADR generates 13061% more annual revenue ($56.69B vs $430.77M). NVS leads profitability with a 22.5% profit margin vs -4.2%. NVS earns a higher WallStSmart Score of 51/100 (C-).

IMCR

Hold

37

out of 100

Grade: F

Growth: 9.3Profit: 2.0Value: 5.0Quality: 5.5
Piotroski: 4/9Altman Z: 0.36

NVS

Buy

51

out of 100

Grade: C-

Growth: 4.0Profit: 9.0Value: 3.3Quality: 4.5
Piotroski: 4/9Altman Z: 1.96
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for IMCR.

NVSSignificantly Overvalued (-47.0%)

Margin of Safety

-47.0%

Fair Value

$93.29

Current Price

$137.16

$43.87 premium

UndervaluedFair: $93.29Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

IMCR2 strengths · Avg: 9.0/10
EPS GrowthGrowth
150.0%10/10

Earnings expanding 150.0% YoY

Revenue GrowthGrowth
18.3%8/10

18.3% revenue growth

NVS5 strengths · Avg: 9.4/10
Market CapQuality
$260.70B10/10

Mega-cap, among the largest globally

Return on EquityProfitability
30.7%10/10

Every $100 of equity generates 31 in profit

Operating MarginProfitability
34.6%10/10

Strong operational efficiency at 34.6%

Profit MarginProfitability
22.5%9/10

Keeps 23 of every $100 in revenue as profit

Free Cash FlowQuality
$5.57B8/10

Generating 5.6B in free cash flow

Areas to Watch

IMCR4 concerns · Avg: 2.5/10
Market CapQuality
$1.82B3/10

Smaller company, higher risk/reward

Debt/EquityHealth
1.043/10

Elevated debt levels

Return on EquityProfitability
-7.1%2/10

ROE of -7.1% — below average capital efficiency

Free Cash FlowQuality
$-6.26M2/10

Negative free cash flow — burning cash

NVS4 concerns · Avg: 3.3/10
Revenue GrowthGrowth
0.8%4/10

0.8% revenue growth

Altman Z-ScoreHealth
1.964/10

Grey zone — moderate risk

Debt/EquityHealth
1.183/10

Elevated debt levels

PEG RatioValuation
3.222/10

Expensive relative to growth rate

Comparative Analysis Report

WallStSmart Research

Bull Case : IMCR

The strongest argument for IMCR centers on EPS Growth, Revenue Growth. Revenue growth of 18.3% demonstrates continued momentum.

Bull Case : NVS

The strongest argument for NVS centers on Market Cap, Return on Equity, Operating Margin. Profitability is solid with margins at 22.5% and operating margin at 34.6%.

Bear Case : IMCR

The primary concerns for IMCR are Market Cap, Debt/Equity, Return on Equity.

Bear Case : NVS

The primary concerns for NVS are Revenue Growth, Altman Z-Score, Debt/Equity.

Key Dynamics to Monitor

IMCR profiles as a growth stock while NVS is a value play — different risk/reward profiles.

IMCR carries more volatility with a beta of 0.74 — expect wider price swings.

IMCR is growing revenue faster at 18.3% — sustainability is the question.

NVS generates stronger free cash flow (5.6B), providing more financial flexibility.

Bottom Line

NVS scores higher overall (51/100 vs 37/100), backed by strong 22.5% margins. Both earn "Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Immunocore Holdings Ltd

HEALTHCARE · BIOTECHNOLOGY · USA

Immunocore Holdings Limited, an advanced stage biotechnology company, develops immunotherapies for the treatment of cancer, infectious and autoimmune diseases. The company is headquartered in Abingdon, the United Kingdom.

Novartis AG ADR

HEALTHCARE · DRUG MANUFACTURERS - GENERAL · USA

Novartis AG researches, develops, manufactures and markets medical devices worldwide. The company is headquartered in Basel, Switzerland.

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