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Side-by-side financial comparison of Immunocore Holdings plc (IMCR) and Prairie Operating Co. (PROP). Click either name above to swap in a different company.

Immunocore Holdings plc is the larger business by last-quarter revenue ($104.5M vs $77.7M, roughly 1.3× Prairie Operating Co.). Over the past eight quarters, Prairie Operating Co.'s revenue compounded faster (9784.4% CAGR vs 21.7%).

Immunocore is a global commercial-stage biotechnology company, based in Oxfordshire, which researches and develops biological drugs using soluble T-cell receptor technology.

Prairie Farms Dairy is a dairy cooperative founded in Carlinville, Illinois, and now headquartered in Edwardsville, Illinois. As a dairy cooperative, Prairie Farms receives milk from producers and converts it into many different products, including cheese, butter, ice cream, sour cream, cottage cheese, various dips, yogurt, and fluid milk. Prairie Farms also produces and sells juices, flavored drinks, and pre-made iced tea.

IMCR vs PROP — Head-to-Head

Bigger by revenue
IMCR
IMCR
1.3× larger
IMCR
$104.5M
$77.7M
PROP
Faster 2-yr revenue CAGR
PROP
PROP
Annualised
PROP
9784.4%
21.7%
IMCR

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric
IMCR
IMCR
PROP
PROP
Revenue
$104.5M
$77.7M
Net Profit
$1.3M
Gross Margin
97.4%
Operating Margin
-18.8%
34.8%
Net Margin
1.7%
Revenue YoY
24.3%
Net Profit YoY
111.3%
EPS (diluted)
$-0.61
$-0.44

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
IMCR
IMCR
PROP
PROP
Q4 25
$104.5M
Q3 25
$103.7M
$77.7M
Q2 25
$98.0M
$68.1M
Q1 25
$93.9M
$13.6M
Q4 24
$84.1M
Q3 24
$80.2M
$0
Q2 24
$75.4M
Q1 24
$70.5M
Net Profit
IMCR
IMCR
PROP
PROP
Q4 25
Q3 25
$-177.0K
$1.3M
Q2 25
$-10.3M
$35.7M
Q1 25
$5.0M
$-2.6M
Q4 24
Q3 24
$8.7M
$-11.4M
Q2 24
$-11.6M
Q1 24
$-24.4M
Gross Margin
IMCR
IMCR
PROP
PROP
Q4 25
97.4%
Q3 25
99.5%
Q2 25
98.9%
Q1 25
99.1%
Q4 24
99.6%
Q3 24
99.4%
Q2 24
97.7%
Q1 24
99.7%
Operating Margin
IMCR
IMCR
PROP
PROP
Q4 25
-18.8%
Q3 25
-6.9%
34.8%
Q2 25
-15.2%
27.8%
Q1 25
-3.9%
12.9%
Q4 24
-23.1%
Q3 24
-10.6%
Q2 24
-21.2%
Q1 24
-37.6%
Net Margin
IMCR
IMCR
PROP
PROP
Q4 25
Q3 25
-0.2%
1.7%
Q2 25
-10.5%
52.4%
Q1 25
5.4%
-19.3%
Q4 24
Q3 24
10.9%
Q2 24
-15.4%
Q1 24
-34.7%
EPS (diluted)
IMCR
IMCR
PROP
PROP
Q4 25
$-0.61
Q3 25
$0.00
$-0.44
Q2 25
$-0.20
$0.18
Q1 25
$0.10
$-3.49
Q4 24
$-0.47
Q3 24
$0.17
$-0.68
Q2 24
$-0.23
Q1 24
$-0.49

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
IMCR
IMCR
PROP
PROP
Cash + ST InvestmentsLiquidity on hand
$864.2M
$10.6M
Total DebtLower is stronger
Stockholders' EquityBook value
$381.0M
$101.8M
Total Assets
$1.1B
$939.8M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IMCR
IMCR
PROP
PROP
Q4 25
$864.2M
Q3 25
$892.4M
$10.6M
Q2 25
$882.8M
$10.7M
Q1 25
$837.0M
$15.0M
Q4 24
$820.4M
Q3 24
$901.3M
$40.1M
Q2 24
$859.6M
Q1 24
$832.8M
Total Debt
IMCR
IMCR
PROP
PROP
Q4 25
Q3 25
Q2 25
$387.0M
Q1 25
$377.0M
Q4 24
Q3 24
$438.7M
Q2 24
$452.5M
Q1 24
$452.5M
Stockholders' Equity
IMCR
IMCR
PROP
PROP
Q4 25
$381.0M
Q3 25
$396.6M
$101.8M
Q2 25
$388.5M
$94.2M
Q1 25
$378.5M
$34.0M
Q4 24
$360.7M
Q3 24
$377.8M
$61.3M
Q2 24
$359.1M
Q1 24
$359.5M
Total Assets
IMCR
IMCR
PROP
PROP
Q4 25
$1.1B
Q3 25
$1.1B
$939.8M
Q2 25
$1.1B
$858.5M
Q1 25
$1.0B
$775.4M
Q4 24
$1.0B
Q3 24
$1.1B
$107.2M
Q2 24
$1.0B
Q1 24
$994.0M
Debt / Equity
IMCR
IMCR
PROP
PROP
Q4 25
Q3 25
Q2 25
4.11×
Q1 25
11.07×
Q4 24
Q3 24
1.16×
Q2 24
1.26×
Q1 24
1.26×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
IMCR
IMCR
PROP
PROP
Operating Cash FlowLast quarter
$-32.7M
$57.7M
Free Cash FlowOCF − Capex
$-35.5M
FCF MarginFCF / Revenue
-34.0%
Capex IntensityCapex / Revenue
2.8%
Cash ConversionOCF / Net Profit
44.80×
TTM Free Cash FlowTrailing 4 quarters
$-15.1M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IMCR
IMCR
PROP
PROP
Q4 25
$-32.7M
Q3 25
$-4.5M
$57.7M
Q2 25
$26.0M
$-7.2M
Q1 25
$435.0K
$16.9M
Q4 24
$-14.0M
Q3 24
$21.1M
$2.8M
Q2 24
$23.5M
Q1 24
$-4.6M
Free Cash Flow
IMCR
IMCR
PROP
PROP
Q4 25
$-35.5M
Q3 25
$-5.2M
Q2 25
$25.6M
Q1 25
$137.0K
Q4 24
$-17.5M
Q3 24
$20.3M
Q2 24
$23.1M
Q1 24
$-5.0M
FCF Margin
IMCR
IMCR
PROP
PROP
Q4 25
-34.0%
Q3 25
-5.0%
Q2 25
26.1%
Q1 25
0.1%
Q4 24
-20.9%
Q3 24
25.3%
Q2 24
30.7%
Q1 24
-7.1%
Capex Intensity
IMCR
IMCR
PROP
PROP
Q4 25
2.8%
Q3 25
0.7%
Q2 25
0.4%
Q1 25
0.3%
Q4 24
4.3%
Q3 24
1.0%
Q2 24
0.4%
Q1 24
0.6%
Cash Conversion
IMCR
IMCR
PROP
PROP
Q4 25
Q3 25
44.80×
Q2 25
-0.20×
Q1 25
0.09×
Q4 24
Q3 24
2.42×
Q2 24
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

IMCR
IMCR

Segment breakdown not available.

PROP
PROP

Crude Oil Sales$64.9M84%
Natural Gas Sales$7.6M10%
Natural Gas Liquids Reserves$5.2M7%

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