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Side-by-side financial comparison of Immunocore Holdings plc (IMCR) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Immunocore Holdings plc is the larger business by last-quarter revenue ($104.5M vs $100.0M, roughly 1.0× Latham Group, Inc.). On growth, Immunocore Holdings plc posted the faster year-over-year revenue change (24.3% vs 14.5%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $-35.5M). Over the past eight quarters, Immunocore Holdings plc's revenue compounded faster (21.7% CAGR vs -4.9%).
Immunocore is a global commercial-stage biotechnology company, based in Oxfordshire, which researches and develops biological drugs using soluble T-cell receptor technology.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
IMCR vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.5M | $100.0M |
| Net Profit | — | $-7.0M |
| Gross Margin | 97.4% | 28.0% |
| Operating Margin | -18.8% | -10.7% |
| Net Margin | — | -7.0% |
| Revenue YoY | 24.3% | 14.5% |
| Net Profit YoY | — | 76.0% |
| EPS (diluted) | $-0.61 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $103.7M | $161.9M | ||
| Q2 25 | $98.0M | $172.6M | ||
| Q1 25 | $93.9M | $111.4M | ||
| Q4 24 | $84.1M | $87.3M | ||
| Q3 24 | $80.2M | $150.5M | ||
| Q2 24 | $75.4M | $160.1M | ||
| Q1 24 | $70.5M | $110.6M |
| Q4 25 | — | $-7.0M | ||
| Q3 25 | $-177.0K | $8.1M | ||
| Q2 25 | $-10.3M | $16.0M | ||
| Q1 25 | $5.0M | $-6.0M | ||
| Q4 24 | — | $-29.2M | ||
| Q3 24 | $8.7M | $5.9M | ||
| Q2 24 | $-11.6M | $13.3M | ||
| Q1 24 | $-24.4M | $-7.9M |
| Q4 25 | 97.4% | 28.0% | ||
| Q3 25 | 99.5% | 35.4% | ||
| Q2 25 | 98.9% | 37.1% | ||
| Q1 25 | 99.1% | 29.5% | ||
| Q4 24 | 99.6% | 24.6% | ||
| Q3 24 | 99.4% | 32.4% | ||
| Q2 24 | 97.7% | 33.1% | ||
| Q1 24 | 99.7% | 27.7% |
| Q4 25 | -18.8% | -10.7% | ||
| Q3 25 | -6.9% | 13.3% | ||
| Q2 25 | -15.2% | 14.3% | ||
| Q1 25 | -3.9% | -4.4% | ||
| Q4 24 | -23.1% | -14.9% | ||
| Q3 24 | -10.6% | 8.9% | ||
| Q2 24 | -21.2% | 12.5% | ||
| Q1 24 | -37.6% | -1.9% |
| Q4 25 | — | -7.0% | ||
| Q3 25 | -0.2% | 5.0% | ||
| Q2 25 | -10.5% | 9.3% | ||
| Q1 25 | 5.4% | -5.4% | ||
| Q4 24 | — | -33.4% | ||
| Q3 24 | 10.9% | 3.9% | ||
| Q2 24 | -15.4% | 8.3% | ||
| Q1 24 | -34.7% | -7.1% |
| Q4 25 | $-0.61 | $-0.06 | ||
| Q3 25 | $0.00 | $0.07 | ||
| Q2 25 | $-0.20 | $0.13 | ||
| Q1 25 | $0.10 | $-0.05 | ||
| Q4 24 | $-0.47 | $-0.24 | ||
| Q3 24 | $0.17 | $0.05 | ||
| Q2 24 | $-0.23 | $0.11 | ||
| Q1 24 | $-0.49 | $-0.07 |
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 | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $381.0M | $405.9M |
| Total Assets | $1.1B | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $864.2M | — | ||
| Q3 25 | $892.4M | — | ||
| Q2 25 | $882.8M | — | ||
| Q1 25 | $837.0M | — | ||
| Q4 24 | $820.4M | — | ||
| Q3 24 | $901.3M | — | ||
| Q2 24 | $859.6M | — | ||
| Q1 24 | $832.8M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | $438.7M | $282.8M | ||
| Q2 24 | $452.5M | $282.4M | ||
| Q1 24 | $452.5M | $282.8M |
| Q4 25 | $381.0M | $405.9M | ||
| Q3 25 | $396.6M | $408.4M | ||
| Q2 25 | $388.5M | $398.4M | ||
| Q1 25 | $378.5M | $381.1M | ||
| Q4 24 | $360.7M | $387.2M | ||
| Q3 24 | $377.8M | $416.6M | ||
| Q2 24 | $359.1M | $408.1M | ||
| Q1 24 | $359.5M | $391.8M |
| Q4 25 | $1.1B | $823.2M | ||
| Q3 25 | $1.1B | $844.4M | ||
| Q2 25 | $1.1B | $822.1M | ||
| Q1 25 | $1.0B | $824.6M | ||
| Q4 24 | $1.0B | $794.2M | ||
| Q3 24 | $1.1B | $853.4M | ||
| Q2 24 | $1.0B | $830.0M | ||
| Q1 24 | $994.0M | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | 1.16× | 0.68× | ||
| Q2 24 | 1.26× | 0.69× | ||
| Q1 24 | 1.26× | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $-35.5M | $14.1M |
| FCF MarginFCF / Revenue | -34.0% | 14.1% |
| Capex IntensityCapex / Revenue | 2.8% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-15.1M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-32.7M | $23.3M | ||
| Q3 25 | $-4.5M | $51.0M | ||
| Q2 25 | $26.0M | $36.0M | ||
| Q1 25 | $435.0K | $-46.9M | ||
| Q4 24 | $-14.0M | $6.2M | ||
| Q3 24 | $21.1M | $37.2M | ||
| Q2 24 | $23.5M | $52.4M | ||
| Q1 24 | $-4.6M | $-34.5M |
| Q4 25 | $-35.5M | $14.1M | ||
| Q3 25 | $-5.2M | $45.2M | ||
| Q2 25 | $25.6M | $29.1M | ||
| Q1 25 | $137.0K | $-50.3M | ||
| Q4 24 | $-17.5M | $-98.0K | ||
| Q3 24 | $20.3M | $33.2M | ||
| Q2 24 | $23.1M | $47.9M | ||
| Q1 24 | $-5.0M | $-39.9M |
| Q4 25 | -34.0% | 14.1% | ||
| Q3 25 | -5.0% | 27.9% | ||
| Q2 25 | 26.1% | 16.8% | ||
| Q1 25 | 0.1% | -45.2% | ||
| Q4 24 | -20.9% | -0.1% | ||
| Q3 24 | 25.3% | 22.1% | ||
| Q2 24 | 30.7% | 29.9% | ||
| Q1 24 | -7.1% | -36.0% |
| Q4 25 | 2.8% | 9.2% | ||
| Q3 25 | 0.7% | 3.6% | ||
| Q2 25 | 0.4% | 4.0% | ||
| Q1 25 | 0.3% | 3.1% | ||
| Q4 24 | 4.3% | 7.2% | ||
| Q3 24 | 1.0% | 2.7% | ||
| Q2 24 | 0.4% | 2.8% | ||
| Q1 24 | 0.6% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | 0.09× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.42× | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IMCR
Segment breakdown not available.
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
