WallStSmart

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

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Novartis AG ADR generates 13606% more annual revenue ($56.58B vs $412.81M). NVS leads profitability with a 23.9% profit margin vs -6.7%. NVS earns a higher WallStSmart Score of 49/100 (D+).

IMCR

Hold

42

out of 100

Grade: D

Growth: 8.7Profit: 3.0Value: 5.0Quality: 7.0
Piotroski: 4/9Altman Z: 0.36

NVS

Hold

49

out of 100

Grade: D+

Growth: 3.3Profit: 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 (-62.1%)

Margin of Safety

-62.1%

Fair Value

$91.39

Current Price

$148.38

$56.99 premium

UndervaluedFair: $91.39Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

IMCR2 strengths · Avg: 9.5/10
EPS GrowthGrowth
150.0%10/10

Earnings expanding 150.0% YoY

Debt/EquityHealth
0.119/10

Conservative balance sheet, low leverage

NVS5 strengths · Avg: 9.4/10
Market CapQuality
$273.77B10/10

Mega-cap, among the largest globally

Return on EquityProfitability
35.1%10/10

Every $100 of equity generates 35 in profit

Operating MarginProfitability
30.5%10/10

Strong operational efficiency at 30.5%

Profit MarginProfitability
23.9%9/10

Keeps 24 of every $100 in revenue as profit

Free Cash FlowQuality
$2.87B8/10

Generating 2.9B in free cash flow

Areas to Watch

IMCR4 concerns · Avg: 2.3/10
Market CapQuality
$1.47B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
-7.1%2/10

ROE of -7.1% — below average capital efficiency

Free Cash FlowQuality
$-15.53M2/10

Negative free cash flow — burning cash

Altman Z-ScoreHealth
0.362/10

Distress zone — elevated risk

NVS4 concerns · Avg: 2.8/10
Altman Z-ScoreHealth
1.964/10

Grey zone — moderate risk

Debt/EquityHealth
1.223/10

Elevated debt levels

PEG RatioValuation
3.932/10

Expensive relative to growth rate

Revenue GrowthGrowth
-0.7%2/10

Revenue declined 0.7%

Comparative Analysis Report

WallStSmart Research

Bull Case : IMCR

The strongest argument for IMCR centers on EPS Growth, Debt/Equity. Revenue growth of 13.6% 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 23.9% and operating margin at 30.5%.

Bear Case : IMCR

The primary concerns for IMCR are Market Cap, Return on Equity, Free Cash Flow.

Bear Case : NVS

The primary concerns for NVS are Altman Z-Score, Debt/Equity, PEG Ratio.

Key Dynamics to Monitor

IMCR profiles as a turnaround stock while NVS is a declining play — different risk/reward profiles.

IMCR carries more volatility with a beta of 0.75 — expect wider price swings.

IMCR is growing revenue faster at 13.6% — sustainability is the question.

NVS generates stronger free cash flow (2.9B), providing more financial flexibility.

Bottom Line

NVS scores higher overall (49/100 vs 42/100), backed by strong 23.9% margins. Both earn "Hold" 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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