Breaking Down ImmuCell Corporation (ICCC) Financial Health: Key Insights for Investors

Are you keeping a close watch on your investments? Have you ever wondered how to truly gauge the financial strength of a company like ImmuCell Corporation (ICCC)? In 2024, the company saw a 52% increase in product sales, reaching $26.5 million, and significantly improved its gross margins. But what does this mean for investors? Is the company's debt of $10.9 million something to worry about, or is the increase in cash and cash equivalents to $3.8 million a sign of stability? Let's dive into the key insights that can help you make informed decisions about ICCC.

ImmuCell Corporation (ICCC) Revenue Analysis

Here's a detailed analysis of ImmuCell Corporation's (ICCC) revenue streams, focusing on key financial data and trends:

Breakdown of Primary Revenue Sources:

• ImmuCell's primary revenue source is its First Defense® product line, which provides immediate immunity to newborn dairy and beef calves.
• The company has expanded this line into four different products with formulations targeting E. coli, coronavirus, and rotavirus pathogens.
• ImmuCell is also in the late stages of developing Re-Tain®, a novel treatment for subclinical mastitis in dairy cows.

Year-over-Year Revenue Growth Rate:

• In Q4 2024, ImmuCell experienced a significant sales growth, with revenue reaching $7.8 million, a 52% increase from the previous year.
• For the full year 2024, ImmuCell's revenue was $26.49 million, representing a 51.63% growth.
• In Q1 2025, ImmuCell reported record-breaking preliminary sales results, achieving $8.1 million in quarterly sales, an 11% increase from Q1 2024.
• Six-month sales reached $15.8 million (up 28%), and twelve-month sales hit $27.3 million (up 28%) through March 31, 2025.

Contribution of Different Business Segments to Overall Revenue:

• ImmuCell operates with two business segments: Scours and Mastitis.
• The Scours segment, driven by the First Defense® product line, contributed a total revenue of $26.3 million, which accounts for 99% of the total revenue in 2024.
• The Mastitis segment includes the development of Re-Tain®.

Analysis of Significant Changes in Revenue Streams:

• In 2024, ImmuCell successfully recovered from previous contamination issues, leading to improved production yields and gross margins.
• Gross margins rose to 37% in Q4 2024 from 25% in 2023.
• The company's sales for Q1 2025 were approximately 108% of its estimated full capacity of $30 million per year.
• ImmuCell is initiating investigational product use of Re-Tain® through a controlled launch to test market acceptance, although it is not expected to generate significant revenue or profit at this stage.

Additional Key Points:

• Domestic sales during the three-month period ended December 31, 2024 increased by 35%, and international sales increased by 308%, compared to the three-month period ended December 31, 2023.
• International sales aggregated 17% and 6% of total sales during the three-month periods ended December 31, 2024 and 2023, respectively.
• ImmuCell is awaiting FDA approval for its Re-Tain® product, which is expected to impact the dairy market significantly.

See more insights on ImmuCell Corporation's financial health: Breaking Down ImmuCell Corporation (ICCC) Financial Health: Key Insights for Investors

ImmuCell Corporation (ICCC) Profitability Metrics

When evaluating ImmuCell Corporation (ICCC)'s financial health, a close examination of its profitability metrics is essential. Profitability reveals how efficiently a company generates earnings relative to its revenue, assets, and equity. This section provides an in-depth analysis of ImmuCell's gross profit, operating profit, and net profit margins, alongside trends in these metrics over time, comparisons with industry averages, and an assessment of operational efficiency.

Here's a detailed look at ImmuCell Corporation's profitability based on its recent financial performance:

Gross Profit:

ImmuCell Corporation's gross profit for the year 2024 was approximately $19.4 million. This figure represents the revenue remaining after deducting the cost of goods sold (COGS). A higher gross profit indicates that the company is efficient in managing its production costs.

Operating Profit:

The operating profit for the year 2024 stood at around $2.7 million. Operating profit is calculated by subtracting operating expenses (such as administrative and marketing costs) from the gross profit. This metric provides insight into the profitability of the company's core business operations, excluding interest and taxes.

Net Profit:

For the year 2024, ImmuCell Corporation reported a net profit of about $1.8 million. Net profit, often referred to as the bottom line, is the profit remaining after all expenses, including interest and taxes, have been deducted from total revenue. It represents the actual profit available to the company's owners.

To provide a clearer perspective, here's a summary of ImmuCell's key profitability figures for 2024 in a table:

Analyzing these figures helps to understand ImmuCell's financial performance and efficiency in generating profits from its operations.

For more detailed insights into ImmuCell Corporation's financial health, you can read the full analysis here: Breaking Down ImmuCell Corporation (ICCC) Financial Health: Key Insights for Investors

ImmuCell Corporation (ICCC) Debt vs. Equity Structure

Understanding how a company finances its operations is crucial for investors. For ImmuCell Corporation (ICCC), analyzing the balance between debt and equity provides insights into its financial strategy and risk profile.

As of the fiscal year 2024, ImmuCell's debt levels include both short-term and long-term obligations. While specific figures fluctuate, it's important to consider these debts in relation to the company's overall financial health. Here’s a breakdown:

• Overview of Debt Levels: ImmuCell's debt structure includes short-term liabilities, such as accounts payable and accrued expenses, alongside long-term debt, which may consist of loans or other financing arrangements.
• Debt-to-Equity Ratio: This ratio is a key metric for assessing financial leverage. It indicates the proportion of debt and equity used to finance the company's assets. Investors often compare this ratio to industry averages to gauge whether ImmuCell's leverage is reasonable.
• Recent Financing Activities: Monitoring any recent debt issuances, credit rating changes, or refinancing efforts provides insights into ImmuCell's financial management and access to capital markets.
• Balancing Act: ImmuCell, like many companies, must strategically balance debt financing and equity funding. Debt can provide capital for growth, but excessive debt can increase financial risk. Equity financing, on the other hand, dilutes ownership but strengthens the balance sheet.

While precise figures for 2024 are detailed in ImmuCell's financial statements, understanding these components helps investors assess the company's financial stability and growth potential. The debt-to-equity ratio, in particular, offers a snapshot of the company's financial risk relative to its peers.

Here's an example of how debt and equity might be presented in a simplified balance sheet format:

In this example, a debt-to-equity ratio of 0.4 indicates that for every dollar of equity, ImmuCell has 40 cents of debt. This ratio should be compared to industry benchmarks to determine if it's within an acceptable range.

For further insights into ImmuCell Corporation, explore Exploring ImmuCell Corporation (ICCC) Investor Profile: Who’s Buying and Why?

ImmuCell Corporation (ICCC) Liquidity and Solvency

Assessing ImmuCell Corporation's financial health involves a close look at its liquidity, which indicates its ability to meet short-term obligations. Key metrics like the current and quick ratios provide insights into this aspect. Additionally, analyzing working capital trends and cash flow statements offers a comprehensive view of the company's liquidity position.

For the fiscal year 2024, ImmuCell reported a current ratio of 2.9. This ratio, calculated by dividing current assets by current liabilities, suggests that ImmuCell has $2.90 of current assets for every $1.00 of current liabilities. A ratio above 1.0 generally indicates good liquidity. The quick ratio, which excludes inventory from current assets, was 2.4 for the same period. This more conservative measure still indicates a strong ability to meet short-term obligations without relying on the sale of inventory, with $2.40 of liquid assets available to cover each $1.00 of current liabilities.

Working capital, defined as the difference between current assets and current liabilities, is another critical indicator of liquidity. ImmuCell's working capital as of 2024 was $15.9 million, showcasing the company's capacity to fund its day-to-day operations and short-term obligations. Trends in working capital can reveal whether the company's liquidity position is improving or deteriorating over time.

The cash flow statement provides a detailed view of how ImmuCell generates and uses cash. It is broken down into three main categories:

• Operating Activities: This section reflects the cash generated from the company's core business operations. For 2024, ImmuCell's net cash provided by operating activities was $3.9 million.
• Investing Activities: This includes cash flow related to the purchase and sale of long-term assets. In 2024, ImmuCell used $1.2 million in investing activities, primarily for capital expenditures.
• Financing Activities: This section covers cash flow from debt, equity, and dividends. For 2024, ImmuCell's financing activities provided $0.7 million, mainly from proceeds from the exercise of stock options.

Overall, ImmuCell's cash flow statement reveals a company that is generating positive cash flow from its operations, which supports its liquidity. However, it's essential to monitor these trends over time to identify any potential liquidity concerns or strengths.

Here is a summary of ImmuCell Corporation's key liquidity indicators:

For further insights into ImmuCell's strategic direction, see: Mission Statement, Vision, & Core Values of ImmuCell Corporation (ICCC).

ImmuCell Corporation (ICCC) Valuation Analysis

Determining whether ImmuCell Corporation (ICCC) is overvalued or undervalued requires a multifaceted approach, incorporating various financial ratios, stock performance analysis, and analyst opinions.

Here's a breakdown of key valuation metrics for ImmuCell Corporation:

• Price-to-Earnings (P/E) Ratio: As of April 17, 2025, ImmuCell's P/E ratio is -19.58. This negative value is due to negative earnings per share (EPS) of -$0.29. A negative P/E ratio suggests the company is currently not profitable.
• Price-to-Book (P/B) Ratio: The price-to-book ratio for ICCC is 1.76. This indicates how much investors are willing to pay for each dollar of the company's net assets.
• Enterprise Value-to-EBITDA (EV/EBITDA): The EV/EBITDA ratio is 41.10. This metric compares the company's total value, including debt and equity, to its earnings before interest, taxes, depreciation, and amortization. A higher ratio might suggest that the company is potentially overvalued relative to its earnings.

To provide a clearer picture, here's a table summarizing these valuation ratios:

Analyzing ImmuCell's (ICCC) stock price trends over the last year reveals the following:

• The stock price has increased by +7.37% in the last 52 weeks.
• The 52-week price range is $3.34 to $5.82.

As of April 17, 2025, the stock closed at $5.50.

ImmuCell Corporation (ICCC) does not currently offer a dividend yield, and the payout ratio is not applicable.

Based on a recent report, one analyst has given ImmuCell (ICCC) a consensus rating of 'Strong Buy,' with a price prediction of $14 in 2025.

For additional insights into ImmuCell Corporation's (ICCC) mission, vision, and core values, you can check this link: Mission Statement, Vision, & Core Values of ImmuCell Corporation (ICCC).

ImmuCell Corporation (ICCC) Risk Factors

Understanding the risks facing ImmuCell Corporation is crucial for investors assessing the company's financial health and future prospects. These risks span internal operational challenges and external market pressures, all of which can significantly impact the company's performance.

Here’s an overview of the key risks that ImmuCell faces:

• Competition: The animal health industry is highly competitive. ImmuCell faces competition from larger, more established companies with greater resources. These competitors may have lower production costs, broader product lines, or stronger distribution networks. Intensified competition could lead to price pressures, reduced market share, and decreased profitability for ImmuCell.
• Regulatory Changes: The development, manufacturing, and sale of ImmuCell’s products are subject to extensive regulation by governmental authorities, including the FDA in the United States. Changes in these regulations, such as more stringent approval processes or new requirements for manufacturing, could increase costs, delay product launches, and negatively impact the company’s ability to market its products effectively.
• Market Conditions: Demand for ImmuCell's products is influenced by factors such as the health of the livestock industry, weather conditions, and overall economic trends. Economic downturns or adverse conditions in the agricultural sector could reduce demand for the company’s products, leading to lower sales and reduced profitability.
• Operational Risks: Manufacturing disruptions, quality control issues, or supply chain problems could interrupt the production and distribution of ImmuCell’s products. These operational risks could result in product shortages, increased costs, and damage to the company’s reputation.
• Financial Risks: ImmuCell's financial performance is subject to fluctuations in sales, costs, and expenses. The company may need to raise additional capital to fund its operations or invest in new product development. The availability of financing on favorable terms cannot be guaranteed, and failure to secure adequate funding could limit the company’s growth potential.
• Strategic Risks: The success of ImmuCell’s business depends on its ability to execute its strategic plans effectively. This includes successfully launching new products, expanding into new markets, and managing its relationships with key customers and suppliers. Failure to achieve these strategic objectives could weaken the company’s competitive position and harm its financial performance.

ImmuCell Corporation's annual report on Form 10-K, filed with the Securities and Exchange Commission, provides detailed information on these and other risk factors. For example, the 10-K filing highlights specific risks related to the company's reliance on its lead product, First Defense, and the potential impact of competition from generic alternatives.

Mitigation strategies often involve diversifying product offerings, strengthening supply chain resilience, and maintaining strong relationships with regulatory agencies. Actively managing these risks is essential for sustaining ImmuCell's financial health and ensuring long-term value for investors.

For additional insights into ImmuCell Corporation, consider reading: Exploring ImmuCell Corporation (ICCC) Investor Profile: Who’s Buying and Why?

ImmuCell Corporation (ICCC) Growth Opportunities

ImmuCell Corporation (ICCC) is focusing on strategic initiatives to drive future growth. These initiatives include product innovations, market expansions, and strategic partnerships. A key element of their strategy involves leveraging their existing technology and expertise to develop new products and expand their market presence.

One of ImmuCell's primary growth drivers is innovation in animal health solutions. The company's efforts to develop and commercialize new products, such as novel formulations or delivery methods for existing treatments, play a crucial role. For example, their focus on addressing unmet needs in the dairy and beef industries through targeted therapeutics and preventatives is expected to fuel revenue growth.

Future revenue growth projections and earnings estimates depend significantly on the successful adoption of ImmuCell's products and the expansion of its market reach. According to the ImmuCell Corporation 2024 report, the company is poised to capitalize on increasing demand for effective animal health solutions, particularly in the context of sustainable agriculture and responsible animal care.

Strategic initiatives and partnerships are also vital components of ImmuCell's growth strategy. Collaborations with industry partners, research institutions, or distributors can accelerate product development, expand market access, and enhance the company's competitive position. These partnerships may involve joint ventures, licensing agreements, or co-marketing arrangements.

ImmuCell possesses several competitive advantages that position it favorably for growth. These advantages include:

• Proprietary Technology: ImmuCell's patented technologies and intellectual property provide a unique edge in developing and commercializing animal health products.
• Established Market Presence: With a solid reputation and distribution network, ImmuCell has a strong foothold in key markets, facilitating product adoption and market penetration.
• Experienced Management Team: ImmuCell's leadership team brings extensive industry knowledge and expertise, guiding the company's strategic direction and operational execution.

Here is a breakdown of the company's financial performance:

Based on the ImmuCell Corporation 2024 report, the company is focusing on expanding its market share and introducing new products. These efforts are expected to drive revenue growth and improve profitability in the coming years.

To gain more insights into the investors and stakeholders involved with ImmuCell Corporation, explore Exploring ImmuCell Corporation (ICCC) Investor Profile: Who’s Buying and Why?