Immatics N.V. Ordinary Shares (IMTX)

FairStock Score: 27/100 — RISKY

Key Financials

AI Analysis

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

Immatics is not the sort of business Benjamin Graham would have bought on the numbers alone. It is a clinical-stage biopharmaceutical company developing T cell redirecting immunotherapies for cancer, with 704 employees and no dividend. In fiscal Q2 2026, revenue was $9.1 million and net loss was $62.5 million, a negative margin of 683.42%. Trailing free cash flow was negative $209.6 million, giving a FairStock FCF yield of -14.1% at the 2026-10-13 close. Those figures show an enterprise consuming capital, not producing it. The balance sheet has low reported debt, with debt-to-equity of 0.04, and an Altman Z-Score of 8.24 from FairStock, so near-term solvency may not be the first worry. Still, a Piotroski F-Score of 3/9 and ROE of -47.80% show weak financial productivity. The FairStock P/E is -3.75 and P/B is 2.03; the market cap is $1.5 billion. At $6.83 on 2026-10-13, the stock sits near its 52-week low of $6.80, yet cheapness is unproven because there are no earnings to capitalize. FairStock's score of 27/100 and Lynch category of none—only 0 years of filed results, needing 3—confirm this is a speculative pipeline story. The moat, if any, must come from clinical data, patents, and manufacturing, not from present financial strength.

In plain English: Immatics is a medical research company developing experimental cancer treatments that use immune cells to target tumors. It is not yet profitable and is spending more than it earns: in fiscal Q2 2026, revenue was $9.1 million and net loss was $62.5 million. At $6.83 on 2026-10-13, the price does not look cheap based on current profits because there are none; it depends heavily on future trial success.

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

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