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Imugene Ltd (IMU) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Imugene Ltd A$0.03, price A$0.04, upside -21.6%, quality 32 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · AU · ISIN AU000000IMU9

IL Thin data Sep 27, 2026

Imugene Ltd

IMU · AU

Weak valuationQuality is weak on top of the rich price.

!Fair value A$0.0290 · Overvalued (−21.6%)
!Quality 32/100
!Weak Growth (revenue 5y +1.2 %/yr)
!Low debt · negative free cash flow
!Trails peers (2/7)
!Narrow moat 14/100
!Insider activity 40/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 5 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

A$20.57 A$0.0370 Fair Value A$0.0290 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range A$0.0370 – A$20.57 · the A$0.0370 price screens above the A$0.0290 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Imugene Limited, a clinical-stage immuno-oncology company, develops a range of immunotherapies to activate the immune system of cancer patients to treat and eradicate tumours in Australia.

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Imugene Limited, a clinical-stage immuno-oncology company, develops a range of immunotherapies to activate the immune system of cancer patients to treat and eradicate tumours in Australia. Its lead products under development azer-cel, an allogeneic CAR T cell therapy in phase 1 clinical trial targeting relapsed/refractory non-hodgkin lymphoma and b-cell acute lymphoblastic leukemia; CF33 VAXINIA, a combination of genomic sequences from various vaccinia virus strains to generate potent virus in phase 1 clinical trial for mixed advanced solid tumours; and CF33 CD19 chimeric antigen receptor T cells therapies to target solid tumours in phase 1 study. The company also develops CF33 oncolytic virotherapy; HER-VAXX, a B-cell immunotherapy cancer vaccine completed phase 2 clinical trial to target metastatic gastric cancer; HERIZON, which is in Phase 1b/2 study for HER-Vaxx and chemotherapy; PD1-Vaxx, a cancer vaccine that aims to induce the body to produce polyclonal antibodies that block PD-1 signalling in phase 2 clinical trial to target non-small cell lung cancer; and NeoPOLEM in phase 2 study for MSI-high colorectal cancer. Imugene Limited is headquartered in Sydney, Australia.

Stock analysis

Imugene Ltd (IMU) currently trades at A$0.0370, while our model-based Fair Value estimate is A$0.0290, 21.6% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Quality & growth

The Quality Score stands at 32/100 (below-average quality), in the Healthcare sector.

Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.

Imugene Ltd reported revenue of A$4.4M in FY2025 versus A$7.2M in FY2021, a compound −11.7%/yr. Reported net income was −A$69.0M in FY2025.

Key figures

Market cap A$44.6M (≈ $31.0M) · P/S ratio 11.3 · EPS (TTM) A$−0.2300 · Return on equity −111% · Return on assets (EBIT) −54.8% · Operating margin −4,737% · Revenue (TTM) A$3.9M · Revenue growth (YoY) −36.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).

What moves the price

The share trades about 92% below its 52-week high and at its 52-week low.

For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at −22%, IMU screens richer than that median.

Fair Value models

Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) A$0.0500 A$0.0700 A$0.1100 53
All 1 models by family
Asset-Based
NCAV (Graham) A$0.0500 A$0.0700 A$0.1100 53

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Quality Score breakdown

Overall quality 32/100

Of which business quality 34 · Market factors (momentum, volatility) 0

Profitability 2
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 13
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 16
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−11.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−30.3%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+1.2%
Start year 2020 (pandemic). Over 10 years: +21.3% a year
Revenue growth 30 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+11.1%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−261.4% (2020) → −1,613.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

IMU screens overvalued: fair value 22% below the price. Compare with Vertex Pharmaceuticals Incorporated →

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Peer Groupⓘ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.Biotechnology · 625 stocks

Beats the industry median on 2/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 34 · Below median
Fair Value upside −21.6% · Above median
Profitability
Return on assets −39.2% · Bottom 25%
Growth and dividend
Revenue growth −36.0% · Bottom 25%
Balance sheet
Debt / equity 0.06× · Below median

Valuation Multiplesvs Biotechnology median · lower = cheaper

PEG 4.07× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)5 · sector 0
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)97 · sector 97
DIVIDEND (yield)0 · sector 22

Context: sector, industry, market

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

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $527.67 $580.44 +10%
Regeneron Pharmaceuticals, Inc REGN $752.25 $1,275 +69%
argenx SE ARGX $959.49 $918.60 −4%
CSL Limited CSL A$175.35 A$192.89 +10%
Samsung Biologics Co 207940 1,354,000 KRW 1,489,400 KRW +10%
BeOne Medicines AG ONC $360.85 $280.94 −22%
Alnylam Pharmaceuticals, Inc ALNY $255.96 $217.88 −15%
Royalty Pharma plc RPRX $58.21 $19.01 −67%
Celltrion, Inc 068270 177,400 KRW 74,519 KRW −58%
WuXi Biologics (Cayman) Inc 2269 HK$53.00 HK$58.30 +10%

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A$0.0290 −22%Fair Value
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Cite: Fair Value Calculator (2026). "Imugene Ltd Fair Value". https://www.fairvalue-calculator.com/stock/IMU

Frequently asked questions

Is Imugene Ltd (IMU) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of A$0.0290 versus a price of A$0.0370, about −22% upside (overvalued).
What is the fair value of IMU?
Our model-based fair value for Imugene Ltd is A$0.0290 (as of Sep 27, 2026), built from audited fundamentals. The current price: A$0.0370.
What is the quality score of IMU?
Imugene Ltd has a Quality Score of 32/100. 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 price target for Imugene Ltd (IMU)?
Our model-based price target is the fair value of A$0.0290 (as of Sep 27, 2026) from 1 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Imugene Ltd stock forecast for 2026?
Our models put fair value at A$0.0290, about −22% upside versus a price of A$0.0370 (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of Imugene Ltd (IMU)?
Imugene Ltd reported trailing-twelve-month revenue of about A$3.9M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Imugene Ltd (IMU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Imugene Ltd it is A$0.0290 per share (as of Sep 27, 2026), against a price of A$0.0370. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Imugene Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, IMU trades above its calculated fair value: price A$0.0370, fair value A$0.0290, a gap of about −22% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of IMU?
No. The price is what the market pays today (A$0.0370); the fair value is what the company's own numbers justify (A$0.0290). For Imugene Ltd the two are A$0.0080 per share apart. That gap is exactly why we show both numbers side by side.
How much is Imugene Ltd worth?
The market values Imugene Ltd at about A$44.6M (market capitalisation, as of Sep 27, 2026). Per share that is A$0.0370; our models calculate a fair value of A$0.0290 per share.
What is the PEG ratio of IMU?
The PEG ratio of Imugene Ltd is 4.07 (P/E divided by earnings growth, as of Sep 27, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Imugene Ltd (IMU)?
Balance-sheet figures for Imugene Ltd (as of Sep 27, 2026): return on equity −111.3%, debt of 0.06 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is IMU from its 52-week high?
Imugene Ltd trades at A$0.0370, about 92% below its 52-week high of A$0.4450 and at the low of A$0.0370 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.0290 is for.
Which stocks are comparable to Imugene Ltd?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, CSL Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Imugene Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price A$0.0370, calculated fair value A$0.0290 (−22%), Quality Score 32/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of IMU calculated?
We run Imugene Ltd through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of A$0.0290, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Imugene Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Imugene Ltd (IMU)?
The closing price on Oct 2, 2026 was A$0.0370. Our model-based fair value is A$0.0290, about −22% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Imugene Ltd right now?
Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Imugene Ltd

How large is the market capitalisation of Imugene Ltd (IMU)?
The market capitalisation of Imugene Ltd is A$44.6M (≈ $31.0M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Imugene Ltd (IMU)?
The price-to-sales ratio of Imugene Ltd is 11.3 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Imugene Ltd (IMU)?
Earnings per share at Imugene Ltd are A$−0.2300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Imugene Ltd (IMU)?
The return on equity (ROE) of Imugene Ltd is −111% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Imugene Ltd (IMU)?
On an EBIT basis the return on assets of Imugene Ltd is −54.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Imugene Ltd (IMU)?
The operating margin of Imugene Ltd is −4,737% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Imugene Ltd (IMU)?
Revenue at Imugene Ltd is growing −36.0% versus a year earlier (3y avg −30.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Imugene Ltd (IMU) generate?
The free cash flow of Imugene Ltd is −A$90.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Imugene Ltd (IMU) hold?
Imugene Ltd holds more cash than debt, A$11.3M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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