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ImmuCell Corporation (ICCC) Fair Value & Analysis

Healthcare · US · Market cap $85.9M

IC ImmuCell Corporation logo ImmuCell Corporation ICCC · US
Price$11.00
Fair Value$1.75
Upside-84.1%
Quality48/100
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Mixed Growth
Loss-making · -1.8% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/12)
Narrow moat 30/100
Evidence: Medium Range $0.9265 – $2.41 Share as image

Fair value as of: Jul 17, 2026

From 14 valuation models · updated 24 days ago

Share price +3.5% over the past month.

Below-average quality, and screening another 84% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case ($2.41). The favourable scenario is already priced in.
  • The model range is unusually wide ($0.9265 to $2.41). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

$11.72 $3.53 Fair Value $1.75 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range $3.53 – $11.72 · fair‑value band $0.9265 – $2.41 · the $11.00 price screens above the $1.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

ImmuCell Corporation (ICCC) currently trades at $11.00, while our model-based Fair Value estimate is $1.75, implying the stock looks roughly 84.1% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, ImmuCell Corporation generated revenue of $29.9M at a net margin of -1.8%. Revenue grew 28.4% year over year. It earns a return on equity of -1.9%. Net debt stands at $9.4M. Fundamentals as of Jul 17, 2026

Our scenario range runs from $0.9265 (bear case) to $2.41 (bull case); at $11.00, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 143% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at -84%, ICCC screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely ($0.2300 to $6.37). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF $0.7700 $1.29 $1.95 80
Rev-Margin DCF $1.01 $1.95 $3.11 74
ROIC Compounder $0.7600 $0.9100 $1.02 72
All 14 models by family
DCF Models
FCF DCF $0.7800 $1.36 $2.14 38
Owner Earnings $0.0200 $0.2300 $0.5100 31
5Y Revenue Exit $1.01 $1.97 $3.23 39
5Y EBITDA Exit $2.72 $5.31 $8.49 41
10Y Revenue Exit $0.8500 $1.63 $2.74 36
10Y EBITDA Exit $1.84 $3.67 $6.32 37
Earnings-Based
EPV $0.7600 $0.9100 $1.02 59
Multiples
EV/EBIT $1.92 $2.69 $3.47 53
EV/EBITDA $4.68 $6.37 $8.06 54
EV/Revenue $1.25 $1.96 $2.67 43
Asset-Based
NCAV (Graham) $1.50 $2.00 $2.99 50
Growth DCF
Growth DCF $0.7700 $1.29 $1.95 80
Rev-Margin DCF $1.01 $1.95 $3.11 74
Economic Profit
ROIC Compounder $0.7600 $0.9100 $1.02 72

Widest divergence: Multiples ($2.69) versus Earnings-Based ($0.9100). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) $29.9M
Revenue growth (YoY) +28.4%
Net margin -1.8%
Return on equity -1.9%
Free cash flow $1.2M FY2025
Operating margin 19.0%
More key figures
EPS (TTM) $-0.0700
EPS growth (YoY) +31.3%
Net debt $9.4M FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 47 · Market factors (momentum, volatility) 85

Profitability 21
Margins and returns on capital today
Quality Growth 75
Are margins and returns improving?
Cashflow 32
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 94
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 14
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

ImmuCell Corporation, an animal health company, develops, manufactures, and sells products that improves the health and productivity of dairy and beef cattle in the United States and internationally. It operates through two segments, Scours and Mastitis.

Full company description

ImmuCell Corporation, an animal health company, develops, manufactures, and sells products that improves the health and productivity of dairy and beef cattle in the United States and internationally. It operates through two segments, Scours and Mastitis. The company offers First Defense, an orally delivered scours preventive product for calves with claims against E. coli, coronavirus, and rotavirus; and Tri-Shield First Defense, a passive antibody product for the treatment of E. coli, coronavirus, and rotavirus. It also provides California Mastitis Test, a quick on-farm diagnostic that is used to detect somatic cell counts in milk, as well as to determine, which quarter of the udder is mastitic; and Dual-Force First Defense, a bivalent gel tube formulation. In addition, the company developing Re-Tain Drug Product, a Nisin-based intramammary treatment of subclinical mastitis in lactating dairy cows. It sells its products through animal health distributors. ImmuCell Corporation was incorporated in 1982 and is based in Portland, Maine.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ImmuCell Corporation reported revenue of $27.6M in FY2025 versus $19.2M in FY2021, a compound +9.5%/yr. Reported net income was −$1.0M in FY2025.

Growth Quality 59/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$27.6M
Latest YoY
+4.3%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.2%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.5%
Avg. growth/yr (36Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.6%
Revenue +9.5%/yr
FY21 $19.2M
FY22 $18.6M
FY23 $17.5M
FY24 $26.5M
FY25 $27.6M
Net income
FY21 −$78.3K
FY22 −$2.5M
FY23 −$5.8M
FY24 −$2.2M
FY25 −$1.0M

ICCC screens 84% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "ImmuCell Corporation Fair Value". https://www.fairvalue-calculator.com/stock/ICCC

Peer Group

Biotechnology · 601 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 48 · Above median
Fair Value upside −84% · Bottom 25%
Return on assets 5% · Top 25%
Net margin (TTM) -2% · Below median
Operating margin (TTM) 19% · Top 25%
Revenue growth 28% · Top 25%
Debt / equity 0.28× · Higher than 75% of peers

Valuation Multiples vs Biotechnology median · lower = cheaper

P/B 3.17× · Pricier than 75% of peers
P/S (TTM) 2.87× · Cheaper than median
P/FCF 70.1× · Pricier than 75% of peers
EV/EBITDA 15.2× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 0
PAST 0 · sector 0
HEALTH 86 · sector 98
DIVIDEND 0 · sector 23

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $486.03 $278.78 -43%
Regeneron Pharmaceuticals, Inc REGN $664.45 $594.40 -11%
Samsung Biologics Co 207940 1,368,000 KRW 1,091,384 KRW -20%
Celltrion, Inc 068270 175,800 KRW 76,325 KRW -57%
WuXi Biologics (Cayman) Inc 2269 HK$39.54 HK$30.42 -23%
Innovent Biologics, Inc 1801 HK$86.70 HK$19.66 -77%
Sino Biopharmaceutical Limited 1177 HK$5.26 HK$3.36 -36%
ALTEOGEN Inc 196170 276,500 KRW 44,444 KRW -84%
RemeGen Co 688331 ¥134.02 ¥26.99 -80%
Biocon Limited BIOCON ₹440.70 ₹57.36 -87%

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Frequently asked questions

Is ImmuCell Corporation (ICCC) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of $1.75 versus a price of $11.00, about −84% (overvalued).
What is the fair value of ICCC?
Our model-based fair value for ImmuCell Corporation is $1.75 (as of Jul 17, 2026), built from audited fundamentals. The current price is $11.00.
What is the quality score of ICCC?
ImmuCell Corporation has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of ImmuCell Corporation (ICCC)?
ImmuCell Corporation reported trailing-twelve-month revenue of about $29.9M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of ICCC?
The net profit margin of ImmuCell Corporation is about -1.8%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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