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Immunovant (IMVT) Stock Fundamentals, Analysis & Risk Signals

Health score, competitive moat, risk signals, and key metrics at a glance.

NasdaqGS•Healthcare•Biotechnology
D
WeakMetricSide Score: 31/100
ProfitabilityProfit0/30
GrowthGrowth10/25
Balance SheetBalance17/25
Cash QualityCash4/20
Price & Volume
Market Cap $7.87B

Immunovant, Inc., a clinical-stage immunology company, develops targeted therapies to meet the needs of people with autoimmune diseases. It develops IMVT-1402, a human monoclonal antibody that inhibits neonatal fragment crystallizable receptor for graves' disease, rheumatoid arthritis, sjögren's disease, cutaneous lupus erythematosus disease, myasthenia gravis, and chronic inflammatory demyelinating polyneuropathy. The company was founded in 2018 and is based in Durham, North Carolina. Immunovant, Inc. operates as a subsidiary of Roivant Sciences Ltd.

Moat Signals

Competitive analysis based on 27 quarters of fundamental data

Pricing Power

Weak Moat

Operating margins are under pressure, averaging -12138175000.0%. The business may lack pricing power or face rising costs.'

Competitive Advantage

Weak Moat

ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.

Risk Signals

Data-driven red flags and warnings across 27 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Leverage Risk

Healthy

Limited debt-to-equity data available.

Revenue Decline

Healthy

Revenue is stable or growing over recent quarters — demand appears durable.

Cash Burn

Red Flag

The last 8 consecutive quarters had negative FCF — the company is burning cash and may need external funding.

Share Dilution

Red Flag

Shares outstanding increased 39.4% — significant dilution, likely from stock compensation or capital raises.

Metrics at a Glance

as of March 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$0
Q. Revenue
$0
TTM EBITDA
$-532.29M
21.6%
TTM Op. Income
$-532.90M
21.6%
Q. Op. Income
$-159.55M
TTM Net Income
$-505.61M
22.2%
Q. Net Income
$-147.86M
EPS
$-0.726
Shares Out.
$203.65M
22.1%
$0 in TTM revenue declined NaN% YoY, reaching $0 last quarter. TTM EBITDA of $-532.29M and TTM operating income of $-532.90M shows growth is flowing through. However, net income is negative at $505.61M — growth is not yet reaching the bottom line. Revenue is contracting — assess whether this is cyclical or structural.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin
N/A
Op. Margin
-15955400000.0%
40.2%
Net Margin
-14785600000.0%
38.9%
Op. margin of -15955400000.0% is down 4572800000.0% YoY — costs are rising relative to revenue. Net margin at -14785600000.0%.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
P/S Ratio
N/A
P/B Ratio
9.2x
P/S of 0.0x and P/B of 9.2x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$957.01M
Cash
$902.11M
Long-Term Debt
N/A
Book Value
$852.59M
D/E Ratio
N/A
Debt/EBITDA
N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$-95.06M
TTM Free Cash Flow
$-407.32M
8.1%
FCF Margin
N/A
FCF / Net Income
0.8
TTM FCF of $-407.32M on $-95.06M in operating cash flow. The FCF / Net Income ratio of 0.8x means earnings are well backed by actual cash — high-quality earnings.

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Cash Generation

Weak Moat

Only 0 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.

Demand Durability

Weak Moat

Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.