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Side-by-side financial comparison of Immunocore Holdings plc (IMCR) and SMITH & WESSON BRANDS, INC. (SWBI). Click either name above to swap in a different company.
SMITH & WESSON BRANDS, INC. is the larger business by last-quarter revenue ($124.7M vs $104.5M, roughly 1.2× Immunocore Holdings plc). On growth, Immunocore Holdings plc posted the faster year-over-year revenue change (24.3% vs -3.9%). SMITH & WESSON BRANDS, INC. produced more free cash flow last quarter ($16.3M vs $-35.5M). Over the past eight quarters, Immunocore Holdings plc's revenue compounded faster (21.7% CAGR vs -4.8%).
Immunocore is a global commercial-stage biotechnology company, based in Oxfordshire, which researches and develops biological drugs using soluble T-cell receptor technology.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
IMCR vs SWBI — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $104.5M | $124.7M |
| Net Profit | — | $1.9M |
| Gross Margin | 97.4% | 24.3% |
| Operating Margin | -18.8% | 3.3% |
| Net Margin | — | 1.5% |
| Revenue YoY | 24.3% | -3.9% |
| Net Profit YoY | — | -53.6% |
| EPS (diluted) | $-0.61 | $0.04 |
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.
| Q4 25 | $104.5M | $124.7M | ||
| Q3 25 | $103.7M | $85.1M | ||
| Q2 25 | $98.0M | $140.8M | ||
| Q1 25 | $93.9M | $115.9M | ||
| Q4 24 | $84.1M | $129.7M | ||
| Q3 24 | $80.2M | $88.3M | ||
| Q2 24 | $75.4M | $159.1M | ||
| Q1 24 | $70.5M | $137.5M |
| Q4 25 | — | $1.9M | ||
| Q3 25 | $-177.0K | $-3.4M | ||
| Q2 25 | $-10.3M | $8.6M | ||
| Q1 25 | $5.0M | $2.1M | ||
| Q4 24 | — | $4.5M | ||
| Q3 24 | $8.7M | $-1.9M | ||
| Q2 24 | $-11.6M | $27.9M | ||
| Q1 24 | $-24.4M | $7.9M |
| Q4 25 | 97.4% | 24.3% | ||
| Q3 25 | 99.5% | 25.9% | ||
| Q2 25 | 98.9% | 28.8% | ||
| Q1 25 | 99.1% | 24.1% | ||
| Q4 24 | 99.6% | 26.6% | ||
| Q3 24 | 99.4% | 27.4% | ||
| Q2 24 | 97.7% | 35.5% | ||
| Q1 24 | 99.7% | 28.7% |
| Q4 25 | -18.8% | 3.3% | ||
| Q3 25 | -6.9% | -3.5% | ||
| Q2 25 | -15.2% | 9.3% | ||
| Q1 25 | -3.9% | 4.1% | ||
| Q4 24 | -23.1% | 5.8% | ||
| Q3 24 | -10.6% | -1.7% | ||
| Q2 24 | -21.2% | 17.4% | ||
| Q1 24 | -37.6% | 8.2% |
| Q4 25 | — | 1.5% | ||
| Q3 25 | -0.2% | -4.0% | ||
| Q2 25 | -10.5% | 6.1% | ||
| Q1 25 | 5.4% | 1.8% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | 10.9% | -2.1% | ||
| Q2 24 | -15.4% | 17.5% | ||
| Q1 24 | -34.7% | 5.7% |
| Q4 25 | $-0.61 | $0.04 | ||
| Q3 25 | $0.00 | $-0.08 | ||
| Q2 25 | $-0.20 | $0.19 | ||
| Q1 25 | $0.10 | $0.05 | ||
| Q4 24 | $-0.47 | $0.10 | ||
| Q3 24 | $0.17 | $-0.04 | ||
| Q2 24 | $-0.23 | $0.60 | ||
| Q1 24 | $-0.49 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $864.2M | $22.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $381.0M | $363.2M |
| Total Assets | $1.1B | $548.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $864.2M | $22.4M | ||
| Q3 25 | $892.4M | $18.0M | ||
| Q2 25 | $882.8M | $25.2M | ||
| Q1 25 | $837.0M | $26.7M | ||
| Q4 24 | $820.4M | $39.1M | ||
| Q3 24 | $901.3M | $35.5M | ||
| Q2 24 | $859.6M | $60.8M | ||
| Q1 24 | $832.8M | $47.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $438.7M | — | ||
| Q2 24 | $452.5M | — | ||
| Q1 24 | $452.5M | — |
| Q4 25 | $381.0M | $363.2M | ||
| Q3 25 | $396.6M | $364.4M | ||
| Q2 25 | $388.5M | $372.5M | ||
| Q1 25 | $378.5M | $366.9M | ||
| Q4 24 | $360.7M | $371.5M | ||
| Q3 24 | $377.8M | $380.0M | ||
| Q2 24 | $359.1M | $399.9M | ||
| Q1 24 | $359.5M | $376.4M |
| Q4 25 | $1.1B | $548.6M | ||
| Q3 25 | $1.1B | $554.6M | ||
| Q2 25 | $1.1B | $559.6M | ||
| Q1 25 | $1.0B | $578.9M | ||
| Q4 24 | $1.0B | $587.4M | ||
| Q3 24 | $1.1B | $571.3M | ||
| Q2 24 | $1.0B | $577.4M | ||
| Q1 24 | $994.0M | $570.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-32.7M | $27.3M |
| Free Cash FlowOCF − Capex | $-35.5M | $16.3M |
| FCF MarginFCF / Revenue | -34.0% | 13.1% |
| Capex IntensityCapex / Revenue | 2.8% | 8.8% |
| Cash ConversionOCF / Net Profit | — | 14.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-15.1M | $21.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-32.7M | $27.3M | ||
| Q3 25 | $-4.5M | $-8.1M | ||
| Q2 25 | $26.0M | $40.8M | ||
| Q1 25 | $435.0K | $-9.8M | ||
| Q4 24 | $-14.0M | $-7.4M | ||
| Q3 24 | $21.1M | $-30.8M | ||
| Q2 24 | $23.5M | $43.7M | ||
| Q1 24 | $-4.6M | $25.2M |
| Q4 25 | $-35.5M | $16.3M | ||
| Q3 25 | $-5.2M | $-12.4M | ||
| Q2 25 | $25.6M | $33.5M | ||
| Q1 25 | $137.0K | $-16.1M | ||
| Q4 24 | $-17.5M | $-10.7M | ||
| Q3 24 | $20.3M | $-35.5M | ||
| Q2 24 | $23.1M | $38.2M | ||
| Q1 24 | $-5.0M | $7.0M |
| Q4 25 | -34.0% | 13.1% | ||
| Q3 25 | -5.0% | -14.6% | ||
| Q2 25 | 26.1% | 23.8% | ||
| Q1 25 | 0.1% | -13.9% | ||
| Q4 24 | -20.9% | -8.3% | ||
| Q3 24 | 25.3% | -40.2% | ||
| Q2 24 | 30.7% | 24.0% | ||
| Q1 24 | -7.1% | 5.1% |
| Q4 25 | 2.8% | 8.8% | ||
| Q3 25 | 0.7% | 5.0% | ||
| Q2 25 | 0.4% | 5.2% | ||
| Q1 25 | 0.3% | 5.4% | ||
| Q4 24 | 4.3% | 2.5% | ||
| Q3 24 | 1.0% | 5.3% | ||
| Q2 24 | 0.4% | 3.5% | ||
| Q1 24 | 0.6% | 13.2% |
| Q4 25 | — | 14.22× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.73× | ||
| Q1 25 | 0.09× | -4.68× | ||
| Q4 24 | — | -1.63× | ||
| Q3 24 | 2.42× | — | ||
| Q2 24 | — | 1.57× | ||
| Q1 24 | — | 3.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
