Immucell (ICCC) AI Stock Analysis

• Market Cap: $43.42M
• Dividend Yield: N/A
• Average Volume (3M): 20.75K
• Price to Earnings (P/E): 18.5
• Beta (1Y): -0.27
• Revenue Growth: 16.49%
• EPS Growth: N/A
• Country: US
• Employees: 69
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.01
• Shares Outstanding: 9,045,851
• 10 Day Avg. Volume: 22,482
• 30 Day Avg. Volume: 20,748
• PEG Ratio: 0.30
• Price to Book (P/B): 1.53
• Price to Sales (P/S): 1.59
• P/FCF Ratio: -390.09
• Enterprise Value/Market Cap: 1.53
• Enterprise Value/Revenue: 2.34
• Enterprise Value/Gross Profit: 6.26
• Enterprise Value/Ebitda: 13.34
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: $5.50 ▼(-11.43% Downside)

Immucell's overall stock score is driven by mixed financial performance and bearish technical indicators. The positive earnings call highlights improvements in net income and operational efficiency, but challenges in sales and inventory management persist. The valuation is reasonable, but the lack of a dividend yield limits its appeal.

Positive Factors

Leadership Transition

The appointment of a new CEO with extensive industry experience is likely to enhance strategic direction and drive growth, particularly in expanding product lines and market reach.

Gross Margin Improvement

Improved gross margins indicate better cost management and pricing power, which can enhance profitability and provide more resources for growth initiatives.

Cash Flow Growth

Strong cash flow growth enhances financial flexibility, allowing for reinvestment into R&D and expansion opportunities, supporting long-term business sustainability.

Negative Factors

Inventory Management Concerns

High inventory levels can tie up capital and indicate potential inefficiencies in production or demand forecasting, impacting cash flow and operational agility.

Total Product Sales Decline

Declining product sales can signal market challenges or competitive pressures, potentially affecting revenue stability and growth prospects if not addressed.

International Sales Challenges

Challenges in international sales can limit market expansion and revenue diversification, necessitating strategic adjustments to capture global opportunities.

Immucell Business Overview & Revenue Model

Company Description

Immucell Corporation (ICCC) is a biotechnology company focused on developing and commercializing innovative products for the health and wellness of animals, particularly in the livestock sector. The company specializes in the production of immunotherapeutic products that enhance the immune response of animals, specifically dairy and beef cattle. Immucell's core products include its flagship product, First Defense, a colostrum replacement for newborn calves designed to prevent disease and promote healthy growth.

How the Company Makes Money

Immucell generates revenue primarily through the sale of its immunotherapeutic products, with First Defense being a significant contributor to its sales. The company markets its products directly to veterinarians and livestock producers, establishing strong relationships in the agricultural sector. Key revenue streams include product sales, which are bolstered by ongoing demand for enhanced animal health solutions in the livestock industry. Additionally, Immucell may engage in partnerships with agricultural distributors and veterinary clinics, which can expand its market reach and enhance sales volume. The company also invests in research and development to innovate and expand its product line, which can lead to new revenue opportunities.

Immucell Financial Statement Overview

Summary

Immucell shows mixed financial performance with modest revenue growth and improved cash flow. However, low net margins and negative EBIT margins indicate profitability challenges. 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	28.27M	26.49M	17.47M	18.57M	19.24M	15.34M
Gross Profit	10.59M	7.94M	4.40M	7.65M	8.66M	6.86M
EBITDA	4.97M	1.07M	-2.50M	349.99K	2.70M	1.65M
Net Income	1.76M	-2.16M	-5.77M	-2.49M	-78.29K	-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: Positive
• Last Price: 6.21
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ICCC, the sentiment is Positive. The current price of 6.21 is above the 20-day moving average (MA) of 5.14, above the 50-day MA of 5.83, and above the 200-day MA of 5.89, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 62.53 is Neutral, neither overbought nor oversold. The STOCH value of 85.75 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ICCC.

Immucell Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ICCC	52 Neutral	$43.42M	18.54	8.27%	―	16.49%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ARTV	46 Neutral	$82.47M	-1.03	-47.96%	―	―	―
HOWL	38 Underperform	$55.33M	-0.74	-122.43%	―	-100.00%	-8.30%
ACET	27 Underperform	$105.79M	-0.53	-71.73%	―	―	25.89%

Immucell Corporate Events

ImmuCell Announces New CEO and Leadership Changes

ImmuCell Corporation announced significant leadership changes effective November 1, 2025, with Olivier te Boekhorst assuming the roles of President and CEO, succeeding Michael F. Brigham, who will continue as a Special Advisor to the CEO until January 2026. The company’s Board of Directors expanded from seven to nine members, appointing Mr. te Boekhorst and CFO Timothy C. Fiori as new directors. These changes are part of ImmuCell’s strategic efforts to enhance its market position and drive growth, particularly in advancing the First Defense® franchise and completing the development of Re-Tain®.

Immucell Appoints New CEO Olivier te Boekhorst

ImmuCell Corporation announced on September 29, 2025, the appointment of Olivier te Boekhorst as its new President and CEO, effective November 1, 2025. Mr. te Boekhorst brings extensive experience from his previous roles at ARCHIMED and IDEXX Laboratories, where he led significant growth and innovation in the livestock diagnostics sector. This leadership change is expected to drive the company’s growth, particularly in expanding sales of First Defense® and advancing Re-Tain®. The transition will be supported by the current CEO, Michael F. Brigham, who will remain as a Special Advisor and Board member. The company has also structured stock option awards for Mr. te Boekhorst as part of his employment terms.