Zacks Investment Research·Jun 18, 2026
ICCC's Valuation Remains Premium: Is it Worth Overpaying for?ImmuCell's premium valuation is backed by rising output, First Defense share gains and a sizable untapped calf-health market opportunity.
ImmuCell Corporation(ICCC)Earnings, Financials & Key Ratios
ICCC•NASDAQ
$10.34
Price updated Jul 7, 2026
AboutImmuCell Corporation, an animal health company, develops, manufactures, and markets products that enhance the health and productivity of dairy and beef cattle in the United States and internationally. It offers First Defense, an orally delivered scours preventive product for newborn dairy and beef calves; and Tri-Shield First Defense, a passive antibody product for the treatment of E. coli, coronavirus, and rotavirus. The company also provides California Mastitis Test 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, including a whey protein concentrate for the nutritional and feed supplement markets. In addition, it is involved in developing Re-Tain, 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 headquartered in Portland, Maine.Show more
- Revenue$28M+4.3%
- EBITDA$4M+318.2%
- Net Income-$1M+51.8%
- EPS (Diluted)-0.12+53.8%
- Gross Margin41.4%+38.1%
- EBITDA Margin15.84%+300.8%
- Operating Margin5.97%+196.4%
- Net Margin-3.76%+53.8%
- ROE-3.81%+53.6%
ICCC Price & Volume
ImmuCell Corporation (ICCC) stock price & volume — 10-year historical chart
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Operational Leverage Gains Offset Biological Production Volatility
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Strained
Financial:Adequate
Cash Flow:Improving
Primary Risk:Regulatory and manufacturing dependency
Key Thesis Takeaways
- ImmuCell is navigating a transition toward improved profitability, evidenced by a 2026Q1 operating margin of 19.0% and a successful reduction in total debt to $12.8 million.
- While the company's reliance on specialized bovine antibody production creates inherent yield variability and revenue lumpiness, the recent expansion of the current ratio to 4.82 suggests a strengthened liquidity position.
- Investors should monitor the ongoing R&D commitment, which frequently exceeds $700,000 per quarter, as the firm balances immediate commercial performance with the long-term development of the Re-Tain pipeline.
Verdict Logic
while the company has improved its current ratio to 4.82, the extreme volatility in quarterly OCF/NI ratios, which reached 8.46 in 2025Q3, warrants a cautious approach until consistent cash generation is established.
ICCC Growth Metrics
ImmuCell Corporation (ICCC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years10.45%
5 Years12.5%
3 Years14.19%
TTM9.64%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-100.68%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM12.45%
Return on Capital
10 Years-2.61%
5 Years-3.78%
3 Years-4.68%
Last Year4.16%
Latest ICCC News
Recent stock market news and headlines for ImmuCell Corporation (ICCC)
Peers Comparison
Key metrics vs top competitors for ImmuCell Corporation (ICCC)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $10.34 | $93.54M | -86.17 | 4.34% | -3.76% | -3.81% | — | |
| $25.82 | $1.02B | 161.38 | 3.63% | 1.27% | 1.31% | — | |
| $9.39 | $2.04B | -1.87 | -3.2% | -69.93% | -29% | — | |
| $33.12 | $1.34B | 27.83 | 27.37% | 6.35% | 29.49% | — | |
| $24.64 | $12.31B | -52.43 | 6.22% | -4.95% | -3.64% | — | |
| $1.21 | $12.49M | 7.12 | 121.96% | 190.86% | 12.13% | — |
Compare ICCC vs Peers
ImmuCell Corporation (ICCC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
ICCC SEC Filings & Documents
ImmuCell Corporation (ICCC) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 14, 2026·SEC
Material company update
May 8, 2026·SEC
Material company update
Apr 14, 2026·SEC
10-K Annual Reports
210-Q Quarterly Reports
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ICCC Frequently Asked Questions
ImmuCell Corporation (ICCC) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is ImmuCell Corporation's revenue?
ImmuCell Corporation (ICCC) reported $29.9M in revenue for fiscal year 2025. This represents a 580% increase from $4.4M in 1996.
How fast is ImmuCell Corporation growing?
ImmuCell Corporation (ICCC) grew revenue by 4.3% over the past year. Growth has been modest.
Is ICCC profitable?
ImmuCell Corporation (ICCC) reported a net loss of $0.5M for fiscal year 2025.
Dividend & Returns
What is ICCC's return on equity?
ImmuCell Corporation (ICCC) has a return on equity (ROE) of -3.8%. Negative ROE indicates the company is unprofitable.
What is ImmuCell Corporation's free cash flow?
ImmuCell Corporation (ICCC) generated $3.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.