ImmuCell Corporation

ICCC

Biotechnology · Healthcare

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Good

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Weak

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Winston Score History

The full picture

ImmuCell Corporation is a small biotechnology company that makes medicines for farm animals, specifically cattle and dairy cows. Its main products help prevent and treat infections in newborn calves and cows, including a drug called Tri-Shield First Defense, which protects calves from common gut infections, and Re-Tain, an antibiotic-free treatment for a painful udder infection in dairy cows called mastitis. Its customers are dairy and beef farmers across the United States.

The company earns money by selling these veterinary products directly to farmers and through distributors. ImmuCell operates almost entirely in the United States and is a very small player in the broader animal health industry, competing against much larger companies like Zoetis and Merck Animal Health. Its main competitive edge is its focused niche in cattle health and its proprietary formulations, but its small size means any manufacturing problem or slow product adoption could significantly hurt its revenue.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+11.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+259.7% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

33.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$9M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

ImmuCell Corporation is a rare growth stock that's already generating positive cash flow while growing at 12%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

33.9%

Modest — 33.9% gross margin

Profit after running costs

Operating Margin

26.9%

Excellent — 26.9% operating margin

Return on the money invested

ROCE

10.4%

Below par — 10.4% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+8.5%

Steady sales growth (+8.5% YoY)

Profit growth

EPS YoY

-54.8%

Earnings shrinking (-54.8% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

748%

Turns 748% of profit into real cash

Spare cash per sale

FCF Margin

13.7%

Converts sales into free cash efficiently (13.7%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.18

Conservative — low debt load (0.18)

Covers its interest

Interest Cover

11.47x

Comfortably covers interest (11.5x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

118.9x

no trend

Expensive — P/E 118.9

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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