ImmunityBio, Inc.
IBRXdata completeness 100%13 fiscal years on filei. The business — what you’d actually own
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $934,0001 | $240,0002 | $622,0003 | $14.7M3 | $113.3M3 |
| Net income | −$346.8M4 | −$416.6M5 | −$583.2M6 | −$413.6M6 | −$351.4M6 |
| Operating cash flow | −$274.4M7 | −$337.5M8 | −$366.8M9 | −$391.2M9 | −$304.9M9 |
| Capital expenditure | $33.6M10 | $78.2M11 | $30.6M12 | $6.89M12 | $3.85M12 |
| Free cash flow (derived) | −$308M7 | −$415.7M8 | −$397.3M9 | −$398.1M9 | −$308.8M9 |
| Total debt | — | — | — | $1.25M13 | $1.75M13 |
| Cash & equivalents | $181.1M14 | $104.6M15 | $265.5M16 | $143.4M16 | $88.3M16 |
| Diluted shares | 389.2M | 399.9M | 508.6M | 700.4M | 919.9M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
−$5.44
your share of equity
Profit it earned you last year
−$3.82
Free cash flow it threw off
−$3.36
Debt you’d be carrying
$0.02
10 shares is a claim on −$5.44 of net worth that earned you −$3.82 and generated −$3.36 of cash last year, against $0.02 of debt.
iii. Is this a good business?
Moat signal · return on equity
— avg · 5y
Not enough data in the filings for a return-on-capital reading.
seeing a moat in the numbers →Management signal · capital allocation
+136% shares · 5y
Share count is up 136% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has risen 40% over the same window.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
iv. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
DCF · Growth Exit 5Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined
Different models answer different questions — which to trust when →
Sources — the receipts
- 10-K · period ending 2021-12-31 · accession 0001326110-24-000037 (Revenues)
- 10-K · period ending 2022-12-31 · accession 0001326110-25-000033 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2023-12-31 · accession 0001326110-26-000030 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2021-12-31 · accession 0001326110-24-000037 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001326110-25-000033 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001326110-26-000030 (NetIncomeLoss)
- 10-K · period ending 2021-12-31 · accession 0001326110-24-000037 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001326110-25-000033 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001326110-26-000030 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2021-12-31 · accession 0001326110-24-000037 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001326110-25-000033 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0001326110-26-000030 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2024-12-31 · accession 0001326110-26-000030 (DebtCurrent)
- 10-K · period ending 2021-12-31 · accession 0001326110-24-000037 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2022-12-31 · accession 0001326110-25-000033 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2023-12-31 · accession 0001326110-26-000030 (CashAndCashEquivalentsAtCarryingValue)