# Immatics N.V. share price today (Immatics N.V., IMTX)

> Immatics N.V.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. IMTX · Healthcare · Biotechnology · data as of 4 November 2026. Page: https://www.sectoralpha.in/us/stocks/imtx

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## Key numbers

- Price: $6.91 (−23.6% in a year)
- P/E: 113.7×, too little history to compare yet
- Revenue (Jun 2026): $9.1 M (+93.0% on a year ago)
- Profit (Jun 2026), incl. one-off: −$62.5 M (one-off item, see below)
- Operating margin: −735.0% (+386.5 points on a year ago)
- ROE: −41%, FY25

The main question: profits are rising, but only −135% of the last 2 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Immatics N.V. share price today? Immatics N.V.'s share price was $6.91 at the close on 4 November 2026. That is 27.6% below its average price over the last 200 trading days. In the last 52 weeks it traded between $7 and $12, and at that close it sat 4% of the way up from that low. Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 23 weeks running. Over the last 1 year the share price moved +16% while the S&P 500 moved +18%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 29 May 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does Immatics N.V. pay? Immatics N.V. pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes. ## Which stock lists is Immatics N.V. on? Immatics N.V. is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is Immatics N.V. profitable? Immatics N.V. posted a net loss of $62.5 M in the Jun 2026 quarter. That quarter includes a one-off gain bigger than its revenue, so the comparison with last year does not reflect normal business. The full FY25 year was a loss of $196 M. That loss is 683.4% of the quarter's revenue. The same quarter a year earlier lost $70.3 M. 11 of the last 12 reported quarters were loss-making. For the full year, FY25 profit was −$196 M (−1,390.9% on the year before). Read this profit with care: at −$62.5 M it is bigger than the quarter's whole revenue of $9.1 M. No business earns more than it takes in from sales, so this is a one-off item (for example a debt settlement, a tax write-back or an asset sale), not money the business earned. The underlying business is running at a −735.0% operating margin. The jump on last year, and any P/E built on this profit, come from the one-off, not from a real turn in earnings. ## How much revenue does Immatics N.V. make, and is it growing? Immatics N.V. reported $9.1 M of revenue in the Jun 2026 quarter, +93.0% on the same quarter a year earlier. Over 4 years it has grown 8.6% a year on average. The last full year, FY25, came in at $48.3 M. The last four reported quarters add to $41.7 M. FY25 revenue was $48.3 M, −69.0% on the year before. Recent pace: the last four quarters grew −30.2% on average, against 8.6% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew −68.0%, against −23.3% a year over the last 8 quarters (rolling over). ## How much of every $100 of sales does Immatics N.V. keep? Immatics N.V.'s operating margin was −735.0% in the Jun 2026 quarter, 386.5 percentage points higher than the same quarter a year ago. Across 5 years it has been between −377.1% and 17.3%. The latest quarter is below every full year in that period. Why the margin moved: operating margin changed +386.5 percentage points on the year while gross margin changed +269.7 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Immatics N.V.'s profit turning into cash? Over the last 2 years Immatics N.V.'s operations used more cash than they brought in, so cash conversion was −135%, a gap worth watching. In FY25 its operations used $177 M of cash, against −$196 M of profit. After $6.6 M of spending on assets, free cash was −$183 M: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Immatics N.V.'s cash go? Immatics N.V. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $53.6 M on assets over the last 3 years. Averaged over those years that is 37.0% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $53.6 M over the last 3 years. In short: most of the cash goes on covering the loss, not on new assets; spending on assets is small next to it. ## What is Immatics N.V.'s P/E ratio, and how does it compare with its own history? Immatics N.V.'s P/E is 113.7×, with too little history to compare. Its usual P/E (the middle reading) is 109.5×, over 1 month of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved −1,250.0% while the price moved −23.6%. The price did better than earnings, which pushed the multiple up within its own range. In short: there is too little history to say whether the multiple is high or low for this company, so the earnings trend underneath matters more than the multiple. ## Is the Immatics N.V. business getting better or worse? Immatics N.V.'s business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 2 measures, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. The latest quarter’s profit includes a one-off item bigger than the normal business, so the profit line is shown but does not count in this reading. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Immatics N.V. earn on its capital? Immatics N.V. earned a ROE of −41% in FY25. That is up from a low of −388% in FY21. Its return on capital used (ROIC) is left out: on sales this small it reads −2,143%, a number that says nothing useful about the business. It comes from a −407.0% net margin and 0.09× asset turnover (sales divided by assets). Why the return is what it is (FY25): a −407.0% net margin × 0.09× asset turnover × 1.16× leverage (assets divided by equity) ≈ −42.5% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. ## Does Immatics N.V. have too much debt? Immatics N.V. has total debt of $14.6 M against shareholder equity of $400 M as of Jun 2026, so its debt is 0.04× its equity, which is very little. Year by year, that ratio went from 0.41 in FY21 to 0.03 in FY25. So the returns on this page come from the business, not from borrowed money. ## What is the Immatics N.V. shareholding pattern? 5.3% of Immatics N.V.'s tradable shares are in short positions, which are bets that the price will fall, so some traders are betting against it. At normal trading volumes, closing those positions would take about 4.0 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is Immatics N.V. from balance-sheet trouble? For Immatics N.V., the Z-score is 3.94. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is well clear of danger. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 3.94 is well clear of the danger zone, so the balance sheet is not the risk here. ## How does Immatics N.V. rank in its industry? There is no score against its industry: Immatics N.V. is not among the largest members shown in this industry comparison for Biotechnology. The score ranks a company within its industry: each measure is scored against the other members. Without that group there is no score, so none is shown. ## Which companies is Immatics N.V. compared with? No sector comparison is shown here, not among the largest members shown in this industry comparison. ## Which companies are close to Immatics N.V. in size? Immatics N.V. is the 109th largest of 211 Biotechnology companies on Sector Alpha by market value (scores of 5 November 2026). Just above it: Verastem, Inc., Janux Therapeutics, Inc. and Rigel Pharmaceuticals, Inc. Just below it: Syndax Pharmaceuticals, Inc., Inventiva S.A. and Odyssey Therapeutics, Inc. ### Biotechnology companies close in size

1. [Verastem, Inc.](https://www.sectoralpha.in/us/stocks/vstm) $1.1 billion
2. [Janux Therapeutics, Inc.](https://www.sectoralpha.in/us/stocks/janx) $1.1 billion
3. [Rigel Pharmaceuticals, Inc.](https://www.sectoralpha.in/us/stocks/rigl) $958 million
4. Immatics N.V. $945 million
5. [Syndax Pharmaceuticals, Inc.](https://www.sectoralpha.in/us/stocks/sndx) $941 million
6. [Inventiva S.A.](https://www.sectoralpha.in/us/stocks/iva) $940 million
7. [Odyssey Therapeutics, Inc.](https://www.sectoralpha.in/us/stocks/odtx) $934 million

[All 211 Biotechnology companies, largest first](https://www.sectoralpha.in/us/sectors/biotechnology#all-companies)

### Companies close in size in other industries

1. [ATRenew Inc.](https://www.sectoralpha.in/us/stocks/rere) $950 million · Internet Retail
2. [Riley Exploration Permian, Inc.](https://www.sectoralpha.in/us/stocks/repx) $950 million · Oil & Gas Exploration & Production
3. Immatics N.V. $945 million
4. [Nextdoor Holdings, Inc.](https://www.sectoralpha.in/us/stocks/nxdr) $944 million · Internet Content & Information
5. [Diversified Energy Company](https://www.sectoralpha.in/us/stocks/dec) $943 million · Oil & Gas Integrated

## What else do people ask about Immatics N.V.? ### What were Immatics N.V.'s latest quarterly results? Immatics N.V. reported revenue of $9.1 M and a net loss of $62.5 M for the Jun 2026 quarter. Earnings per share were −$0.46. The operating margin was −735.0%, 386.5 percentage points higher than a year earlier (as of 4 November 2026). ### What is Immatics N.V.'s market cap? Immatics N.V.'s market capitalisation is $945 M at a stock price of $6.91. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Immatics N.V. performing? Immatics N.V.'s latest readings are below. Over the past 13 weeks it has done worse than the S&P 500, for 23 weeks running. This describes what the data did, not a rating (as of 4 November 2026). ### Will Immatics N.V.'s stock price go up? This page does not forecast Immatics N.V.'s stock price. What it shows instead: the stock price is $6.91. Nobody can reliably say which way a price will move, and this site does not try (as of 4 November 2026). ### Where is Immatics N.V. in its business cycle? Immatics N.V.'s FY25 operating margin was −377.1%, against a 5-year range of −377.1% to 17.3%: the low end of its own range, which is often where recoveries start. The latest quarter was −735.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Immatics N.V. story? The main question: profits are rising, but only −135% of the last 2 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Immatics N.V. a stock worth studying right now? What the numbers show: Immatics N.V.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). This is research, not advice. We’re not SEBI-registered.