Immucell (ICCC) AI Stock Analysis

• Market Cap: $56.54M
• Dividend Yield: N/A
• Average Volume (3M): 12.91K
• Price to Earnings (P/E): 32.4
• Beta (1Y): -0.20
• Revenue Growth: 21.75%
• EPS Growth: N/A
• Country: US
• Employees: 69
• Sector: Healthcare
• Sector Strength: 47
• Industry: Biotechnology
• EPS (TTM): 0.06
• Shares Outstanding: 9,045,851
• 10 Day Avg. Volume: 10,401
• 30 Day Avg. Volume: 12,908
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.26
• Enterprise Value/Revenue: <0.01
• Enterprise Value/Gross Profit: 0.02
• Enterprise Value/Ebitda: 13.27
• 1Y Price Target: $6.00
• Price Target Upside: -1.96% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 54 Neutral
• Price Target: $6.00 ▼(-1.96% Downside)

ImmuCell's overall stock score reflects a balanced view of its financial performance, technical indicators, and valuation. The company's strong sales growth and improved margins are offset by profitability challenges and bearish technical signals. Recent corporate actions provide financial stability, but potential sales softening and regulatory delays pose risks.

Immucell Business Overview & Revenue Model

Company Description

ImmuCell Corporation, an animal health company, develops, manufactures, and markets products that enhance the health and productivity of dairy and beef cattle in the United States and internationally. It offers First Defense, an orally delivered scours preventive product for newborn dairy and beef calves; and Tri-Shield First Defense, a passive antibody product for the treatment of E. coli, coronavirus, and rotavirus. The company also provides California Mastitis Test that is used to detect somatic cell counts in milk, as well as to determine, which quarter of the udder is mastitic; and Dual-Force First Defense, including a whey protein concentrate for the nutritional and feed supplement markets. In addition, it is involved in developing Re-Tain, a Nisin-based intramammary treatment of subclinical mastitis in lactating dairy cows. It sells its products through animal health distributors. ImmuCell Corporation was incorporated in 1982 and is headquartered in Portland, Maine.

How the Company Makes Money

Immucell generates revenue primarily through the sale of its veterinary products, with a significant focus on First Defense. The company markets its products directly to veterinary clinics and livestock producers, and it benefits from a growing demand for animal health solutions. Its revenue model relies on product sales, which are driven by both direct sales and distribution partnerships. Additionally, Immucell may also engage in strategic partnerships and collaborations that could enhance its product offerings and broaden its market reach, contributing to its overall earnings. The increasing emphasis on animal welfare and the prevention of disease in livestock further bolster Immucell's revenue potential.

Immucell Financial Statement Overview

Summary

ImmuCell shows mixed financial performance with modest revenue growth and improved cash flow. However, profitability remains a concern due to low net margins and negative EBIT margins. The balance sheet is stable with moderate leverage, but the high return on equity may not be sustainable.

Income Statement

The company shows a modest revenue growth rate of 1.2% in the TTM period, indicating some positive momentum. However, the net profit margin is low at 0.18%, and the EBIT margin is negative, reflecting challenges in operational efficiency. The gross profit margin is reasonable at 41.5%, suggesting some ability to manage production costs.

Balance Sheet

The debt-to-equity ratio is moderate at 0.51, indicating a balanced approach to leveraging. The return on equity is notably high at 54.34%, driven by recent profitability, but this may not be sustainable given historical performance. The equity ratio is not explicitly calculated, but the balance sheet shows a reasonable level of equity relative to assets.

Cash Flow

The company has shown significant improvement in free cash flow growth, with a 123.64% increase in the TTM period. The operating cash flow to net income ratio is 0.39, indicating some conversion of earnings to cash. However, the free cash flow to net income ratio is 0.52, suggesting room for improvement in cash generation relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	8.09B	26.49M	17.47M	18.57M	19.24M	15.34M
Gross Profit	3.36B	7.94M	4.40M	7.65M	8.66M	6.86M
EBITDA	5.36M	1.11M	-2.50M	349.99K	2.72M	1.65M
Net Income	1.76M	-2.16M	-5.77M	-2.49M	-78.00K	-1.02M
Balance Sheet
Total Assets	46.72M	45.10M	43.81M	44.86M	44.47M	40.35M
Cash, Cash Equivalents and Short-Term Investments	6.00M	3.76M	978.74K	5.79M	10.19M	7.95M
Total Debt	14.27M	15.10M	16.69M	12.48M	10.27M	10.73M
Total Liabilities	16.85M	17.58M	18.82M	14.48M	11.89M	12.08M
Stockholders Equity	29.87M	27.52M	24.99M	30.38M	32.58M	28.27M
Cash Flow
Free Cash Flow	1.76M	-107.82K	-6.57M	-5.52M	-1.65M	-2.76M
Operating Cash Flow	2.53M	357.90K	-4.67M	-1.54M	954.17K	1.32M
Investing Cash Flow	-739.61K	-461.23K	-1.89M	-3.96M	-1.60M	-2.57M
Financing Cash Flow	2.88M	2.88M	1.75M	1.11M	3.88M	1.91M

Immucell Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 6.12
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ICCC, the sentiment is Neutral. The current price of 6.12 is below the 20-day moving average (MA) of 6.24, below the 50-day MA of 6.47, and above the 200-day MA of 5.46, indicating a neutral trend. The MACD of -0.10 indicates Positive momentum. The RSI at 45.63 is Neutral, neither overbought nor oversold. The STOCH value of 37.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ICCC.

Immucell Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ICCC	54 Neutral	$56.54M	32.38	6.61%	―	21.75%	―
Sector *	51 Neutral	$7.81B	-0.22	-40.01%	2.29%	21.48%	-2.11%
MNOV	―	$66.70M	―	-22.66%	―	―	―
HOWL	48 Neutral	$62.19M	―	-100.55%	―	-100.00%	-22.09%
ACET	27 Underperform	$61.33M	―	-64.39%	―	―	48.45%
TELO	―	$48.10M	―	-1575.45%	―	―	―
ARTV	46 Neutral	$69.37M	―	-86.18%	―	―	―

Immucell Corporate Events

ImmuCell Extends $1M Credit Line with Bank

On August 20, 2025, ImmuCell Corporation extended its $1 million line of credit with Maine Community Bank through September 11, 2026, with interest at the National Prime Rate. This extension provides ImmuCell with continued financial flexibility, potentially impacting its operational capabilities and market positioning positively.

ImmuCell Refinances Debt with Maine Community Bank

On August 7, 2025, ImmuCell Corporation entered into a loan agreement with Maine Community Bank to refinance a portion of its bank debt. The new loan, amounting to $2,327,119 with a fixed interest rate of 6.5%, was used to pay off existing loans from MCB and the Finance Authority of Maine, which had higher interest rates and balloon payments due in 2026. This refinancing is expected to improve ImmuCell’s financial stability and reflects its ongoing productive relationship with MCB and support from FAME.

ImmuCell Announces CEO Succession Planning Process

On June 25, 2025, ImmuCell Corporation announced the commencement of its CEO succession planning process as current CEO Michael F. Brigham plans to retire by early 2026. The company has begun the search for a new CEO, with the goal of selecting a candidate by the end of the year. Brigham, who has been with ImmuCell since 1989 and served as CEO since 2000, will assist in the transition and continue to serve on the Board of Directors through June 2026. This transition marks a significant moment for ImmuCell as it seeks leadership to continue its growth and innovation in the animal health industry.

Immucell Elects Directors, Rejects Compensation Proposals

Immucell held its 2025 Annual Meeting of Stockholders on June 12, 2025, via remote communication. During the meeting, all seven director nominees were elected, but the proposals to approve the executive compensation program and amend the 2017 Stock Option and Incentive Plan were not approved. However, the selection of Wipfli LLP as the independent registered public accounting firm for 2025 was ratified.