ImmunityBio Inc. Common Stock (IBRX)

FairStock Score: 22/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn money and trade at a discount to what they are worth. By the figures, ImmunityBio does neither. It is a biotechnology company with immunotherapy platforms, and revenue has grown from $622,000 in fiscal 2023 to $14.7 million in fiscal 2024 to $113.3 million in fiscal 2025. In the latest filed quarter, fiscal Q2 2026 ended June 30, revenue was $51.2 million versus $26.4 million in fiscal Q2 2025, but net income was -$230.4 million. Fiscal Q1 2026 was worse, with net income of -$632.8 million. Trailing free cash flow is -$288.5 million, the Piotroski F-Score is 3/9, and the Altman Z-Score is -6.05. Those are not signs of financial strength. I see no durable competitive moat in the numbers; the case rests on future products, not present earning power. At the 2026-10-13 close of $9.80, the market cap is $10.4 billion against fiscal 2025 revenue of $113.3 million. FairStock calculates a P/E of -10.21, and the Lynch category is none because the company lost money in each of the last four years. Growth is real, but the price already assumes a great deal. Graham would call this an unproven enterprise, not a bargain with a margin of safety. I can watch revenue and losses, but until the business earns a profit and generates cash, it is a speculation on biology rather than a value investment.

In plain English: ImmunityBio is a biotechnology company working on immune-based treatments for cancer and infectious diseases. It brings in some revenue, and that revenue is growing, but the company still loses a lot of money and burns cash. At $9.80, the price looks very high compared with its current sales and losses, so it looks expensive and risky rather than cheap.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer