IMMUCELL CORP /DE/ ICCC
In Vitro & In Vivo Diagnostic Substances · CIK 0000811641 · Fiscal year ends 1231
Revenue
$27.64M
Fiscal year ended 2025-12-31Operating income
$1.65M
Fiscal year ended 2025-12-31Free cash flow
$1.22M
Fiscal year ended 2025-12-31Valuation, from the filing
| Public float | $50.60M | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
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| Float per share | $5.59 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
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| Float / revenue | 1.8× | A lower bound on the multiple, because affiliate holdings are excluded. |
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| Float / equity | 1.9× | A lower bound on the multiple, because affiliate holdings are excluded. |
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Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
How this compares in its industry
Percentile among the In Vitro & In Vivo Diagnostic Substances filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
IMMUCELL CORP /DE/ (ICCC) reported revenue of $27.64M and net income of -$1.04M for the fiscal year ended 2025-12-31. This page shows 9 annual periods of income statement, balance sheet and cash flow figures normalized from IMMUCELL CORP /DE/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under In Vitro & In Vivo Diagnostic Substances.
Income
IMMUCELL CORP /DE/ income by fiscal year, in US dollars, normalized from SEC filings.| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
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| Revenue | $27.64M | $26.49M | $17.47M | $18.57M | $19.24M | $15.34M | $13.72M | $10.99M | $10.43M |
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| Cost of revenue | $16.20M | $18.55M | $13.60M | $10.92M | $10.59M | $8.48M | $6.98M | $5.79M | $5.21M |
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| Gross profit | $11.45M | $7.94M | $3.87M | $7.65M | $8.66M | $6.86M | $6.74M | $5.19M | $5.22M |
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| Operating income | $1.65M | -$1.64M | -$5.75M | -$2.30M | $257.38K | -$1.38M | -$953.91K | -$1.45M | -$242.84K |
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| Net income | -$1.04M | -$2.16M | -$5.77M | -$2.49M | -$78.29K | -$1.02M | -$1.30M | -$2.32M | -$168.15K |
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| Research & development | $3.04M | $3.90M | $4.39M | $4.49M | $4.17M | $4.35M | $3.69M | $3.52M | $2.05M |
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| Weighted-average diluted shares | shares 9.03M | shares 8.17M | shares 7.75M | shares 7.75M | shares 7.59M | shares 7.21M | shares 6.82M | shares 5.49M | shares 4.95M |
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| Pretax income | -$1.03M | -$2.15M | -$5.77M | -$2.49M | -$69.13K | -$1.03M | -$1.27M | -$1.86M | -$438.48K |
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| Income tax expense | $11.57K | $10.06K | $4.63K | $7.67K | $9.16K | -$10.14K | $28.17K | $461.62K | -$270.33K |
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| Diluted EPS | $-0.12 | $-0.26 | $-0.75 | $-0.32 | $-0.01 | $-0.14 | $-0.19 | $-0.42 | $-0.03 |
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| Selling, general & administrative | $6.75M | $5.68M | $5.22M | $5.45M | $4.23M | $3.89M | $4.01M | $3.82M | $3.42M |
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| General & administrative | $3.20M | $2.22M | $2.13M | $2.26M | $1.73M | $1.72M | $1.69M | $1.74M | $1.52M |
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| Selling & marketing | $3.55M | $3.47M | $3.09M | $3.19M | $2.50M | $2.17M | $2.32M | $2.08M | $1.89M |
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Balance
IMMUCELL CORP /DE/ balance by fiscal year, in US dollars, normalized from SEC filings.| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
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| Cash & equivalents | $3.81M | $3.76M | $978.74K | $5.79M | $10.19M | $6.95M | $6.29M | $2.52M | $3.80M |
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| Total assets | $42.53M | $45.10M | $43.81M | $44.86M | $44.47M | $40.35M | $38.69M | $32.73M | $34.30M |
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| Current assets | $16.94M | $15.04M | $11.47M | $13.99M | $16.26M | $12.16M | $13.19M | $6.42M | $7.51M |
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| Total liabilities | $15.48M | $17.58M | $18.82M | $14.48M | $11.89M | $12.08M | $9.70M | $10.99M | $10.70M |
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| Current liabilities | $3.98M | $4.41M | $4.20M | $3.07M | $2.53M | $2.21M | $2.50M | $2.57M | $2.06M |
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| Total equity incl. NCI | $27.06M | $27.52M | $24.99M | $30.38M | $32.58M | $28.27M | $28.99M | $21.74M | $23.59M |
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| Temporary (mezzanine) equity | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable |
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| Inventory | $9.27M | $7.11M | $7.81M | $6.04M | $3.09M | $2.09M | $2.52M | $2.33M | $2.05M |
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| Accounts receivable | $3.42M | $3.77M | $2.19M | $1.76M | $2.69M | $1.80M | $1.64M | $932.30K | $1.34M |
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| Goodwill | $95.56K | $95.56K | $95.56K | $95.56K | $95.56K | $95.56K | $95.56K | $95.56K | $95.56K |
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| Long-term debt | $7.49M | $9.04M | $10.54M | $9.19M | $812.21K | $9.50M | $8.42M | $9.27M | $8.96M |
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| Accounts payable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable |
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Cash flow
IMMUCELL CORP /DE/ cash flow by fiscal year, in US dollars, normalized from SEC filings.| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
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| Operating cash flow | $2.48M | $357.90K | -$4.67M | -$1.54M | $954.17K | $1.32M | $233.51K | -$373.40K | $1.18M |
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| Capital expenditures | $1.25M | $465.72K | $1.89M | $3.98M | $2.61M | $4.07M | $1.39M | $2.03M | $17.76M |
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| Investing cash flow | -$1.21M | -$461.22K | -$1.89M | -$3.96M | -$1.60M | -$2.57M | -$3.40M | -$1.79M | -$12.27M |
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| Financing cash flow | -$1.21M | $2.88M | $1.75M | $1.11M | $3.88M | $1.91M | $6.94M | $889.62K | $9.75M |
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| Net change in cash | $48.60K | $2.78M | —Unavailable | —Unavailable | —Unavailable | —Unavailable | $3.77M | -$1.28M | -$1.35M |
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| Stock-based compensation | $295.87K | $325.55K | $368.87K | $266.24K | $144.31K | $253.14K | $313.14K | $344.02K | $199.78K |
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| Common dividends paid | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable |
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| Common share repurchases | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable |
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| Depreciation & amortization | $2.78M | $2.73M | $2.74M | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable |
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Derived
IMMUCELL CORP /DE/ derived by fiscal year, in US dollars, normalized from SEC filings.| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
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| Free cash flow | $1.22M | -$107.82K | -$6.57M | -$5.52M | -$1.65M | -$2.76M | -$1.16M | -$2.40M | -$16.58M |
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| Gross margin | 41.4% | 30.0% | 22.1% | 41.2% | 45.0% | 44.7% | —Unavailable | 47.3% | 50.1% |
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| Operating margin | 6.0% | -6.2% | -32.9% | -12.4% | 1.3% | -9.0% | —Unavailable | -13.2% | -2.3% |
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| FCF margin | 4.4% | -0.4% | -37.6% | —Unavailable | —Unavailable | —Unavailable | —Unavailable | -21.9% | -159.0% |
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| SBC / revenue | 1.1% | 1.2% | 2.1% | —Unavailable | —Unavailable | —Unavailable | —Unavailable | 3.1% | 1.9% |
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| Current ratio | 4.26x | 3.41x | 2.73x | —Unavailable | 6.42x | 5.50x | 5.29x | 2.50x | 3.64x |
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| Revenue YoY growth | 4.3% | 51.6% | -5.9% | -3.5% | 25.4% | 11.8% | 24.9% | 5.3% | —Unavailable |
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| Net margin | -3.8% | -8.1% | -33.1% | —Unavailable | —Unavailable | —Unavailable | —Unavailable | -21.1% | -1.6% |
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| R&D / revenue | 11.0% | 14.7% | 25.2% | —Unavailable | 21.7% | 28.4% | —Unavailable | 32.0% | 19.6% |
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| CapEx / revenue | 4.5% | 1.8% | 10.8% | —Unavailable | —Unavailable | —Unavailable | —Unavailable | 18.5% | 170.3% |
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| Long-term debt / equity | 0.28x | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable |
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| Effective tax rate | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable | —Unavailable |
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Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open ICCC in the interactive workspace to inspect any figure back to its filing.
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.