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Immatics Valuation Multiples

Discover revenue and EBITDA valuation multiples for Immatics and similar public comparables like Vivoryon Therapeutics, Pharming, and Galapagos.

Immatics Overview

About Immatics

Immatics NV is a biotechnology company engaged in the research and development of T-cell redirecting immunotherapies for the treatment of cancer patients. The company earns revenue through strategic collaboration agreements with third-party pharmaceutical and biotechnology companies.


Founded

2020

HQ

United States of America
Employees

680

Website

immatics.com

Financials

LTM Revenue $144M

LTM EBITDA -$92.3M

EV

$65.0M

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Immatics Financials

Immatics has a last 12-month revenue (LTM) of $144M and a last 12-month EBITDA of -$92.3M.

In the most recent fiscal year, Immatics achieved revenue of $156M and an EBITDA of $34.5M.

Immatics expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Immatics P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $144M XXX $156M XXX XXX XXX
Gross Profit $144M XXX n/a XXX XXX XXX
Gross Margin 100% XXX n/a XXX XXX XXX
EBITDA -$92.3M XXX $34.5M XXX XXX XXX
EBITDA Margin -64% XXX 22% XXX XXX XXX
EBIT -$110M XXX -$38.6M XXX XXX XXX
EBIT Margin -76% XXX -25% XXX XXX XXX
Net Profit -$67.4M XXX $15.2M XXX XXX XXX
Net Margin -47% XXX 10% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Immatics Stock Performance

As of May 30, 2025, Immatics's stock price is $5.

Immatics has current market cap of $655M, and EV of $65.0M.

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Immatics Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$65.0M $655M XXX XXX XXX XXX $-0.48

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Immatics Valuation Multiples

As of May 30, 2025, Immatics has market cap of $655M and EV of $65.0M.

Immatics's trades at 0.4x EV/Revenue multiple, and 1.9x EV/EBITDA.

Equity research analysts estimate Immatics's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Immatics has a P/E ratio of -10.9x.

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Immatics Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $655M XXX $655M XXX XXX XXX
EV (current) $65.0M XXX $65.0M XXX XXX XXX
EV/Revenue 0.5x XXX 0.4x XXX XXX XXX
EV/EBITDA -0.8x XXX 1.9x XXX XXX XXX
EV/EBIT -0.7x XXX -1.7x XXX XXX XXX
EV/Gross Profit 0.5x XXX n/a XXX XXX XXX
P/E -10.9x XXX 43.1x XXX XXX XXX
EV/FCF -0.4x XXX -0.4x XXX XXX XXX

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Immatics Margins & Growth Rates

Immatics's last 12 month revenue growth is -43%

Immatics's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.3M for the same period.

Immatics's rule of 40 is -208% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Immatics's rule of X is -172% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Immatics Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth -43% XXX -31% XXX XXX XXX
EBITDA Margin -64% XXX 22% XXX XXX XXX
EBITDA Growth 119% XXX n/a XXX XXX XXX
Rule of 40 -208% XXX -21% XXX XXX XXX
Bessemer Rule of X XXX XXX -172% XXX XXX XXX
Revenue per Employee XXX XXX $0.2M XXX XXX XXX
Opex per Employee XXX XXX $0.3M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 95% XXX XXX XXX
Opex to Revenue XXX XXX 125% XXX XXX XXX

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Immatics Public Comps

See public comps and valuation multiples for Drug Development & Therapeutics and Vaccines & Immunotherapies comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Julphar XXX XXX XXX XXX XXX XXX
Benevolent AI XXX XXX XXX XXX XXX XXX
Galapagos XXX XXX XXX XXX XXX XXX
Pharming XXX XXX XXX XXX XXX XXX
Vivoryon Therapeutics XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Immatics M&A and Investment Activity

Immatics acquired  XXX companies to date.

Last acquisition by Immatics was  XXXXXXXX, XXXXX XXXXX XXXXXX . Immatics acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Immatics

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Immatics

When was Immatics founded? Immatics was founded in 2020.
Where is Immatics headquartered? Immatics is headquartered in United States of America.
How many employees does Immatics have? As of today, Immatics has 680 employees.
Who is the CEO of Immatics? Immatics's CEO is Dr. Harpreet Singh, PhD.
Is Immatics publicy listed? Yes, Immatics is a public company listed on NAS.
What is the stock symbol of Immatics? Immatics trades under IMTX ticker.
When did Immatics go public? Immatics went public in 2020.
Who are competitors of Immatics? Similar companies to Immatics include e.g. Julphar, Benevolent AI, Galapagos, Pharming.
What is the current market cap of Immatics? Immatics's current market cap is $655M
What is the current revenue of Immatics? Immatics's last 12 months revenue is $144M.
What is the current revenue growth of Immatics? Immatics revenue growth (NTM/LTM) is -43%.
What is the current EV/Revenue multiple of Immatics? Current revenue multiple of Immatics is 0.5x.
Is Immatics profitable? Yes, Immatics is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Immatics? Immatics's last 12 months EBITDA is -$92.3M.
What is Immatics's EBITDA margin? Immatics's last 12 months EBITDA margin is -64%.
What is the current EV/EBITDA multiple of Immatics? Current EBITDA multiple of Immatics is -0.8x.
What is the current FCF of Immatics? Immatics's last 12 months FCF is -$190M.
What is Immatics's FCF margin? Immatics's last 12 months FCF margin is -131%.
What is the current EV/FCF multiple of Immatics? Current FCF multiple of Immatics is -0.4x.

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