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Iovance Biotherapeutics, Inc.

IOVA Healthcare Biotechnology

Iovance Biotherapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $263.5 million, up 60.6% from fiscal 2024. In the quarter to June 2026, revenue grew 65.7%, EPS grew 66.7% and free cash flow grew 11.5%, each against the same quarter a year earlier.

13.58 1.14 −7.74%
Market cap
$6.7B
P/E
0.0×
Fwd P/E
−7.8×
Dividend yield
—
F-score
4/9
Altman Z
−2.30
Beneish M
−2.46
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 12.42%

Capital & Financial Ratios $m

Market Cap 6,670.00
Revenue 324.97
Net Income (289.52)
Free Cash Flow (296.39)
Net Debt (297.67)
Current Ratio 4.35 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 0.00
Fwd P/E (7.75) (negative: loss-making)
P/S ratio 18.81 (above 10: high)
P/B ratio 8.31 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth 59.29% (at or above 15%: strong)
Next Y EPS Growth 61.46% (at or above 15%: strong)
Next Y revenue growth 56.62% (at or above 10%: strong)
Next 5Y EPS Growth 79.45% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 17.9×, against a ten-year median of 4.9×; over the ten years it ranged from 1.0× in 2025 to 1,461× in 2024.
P/B against its own 10 years 91.82%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 280 324 297 298
Receivables 0 69 82 102
Inventory 10 52 52 56
Other — — — —
308 457 443 464
2023 2024 2025 Q'26
Payables 33 28 22 26
ST’ Debt — — — —
Other — — — —
110 122 138 107

Compound Annual Growth %

10y 5y 3y
Sales — — —
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 20.98% 1.25% 11.82%

Revenue $m

Mar Jun Sep Dec Year
’26 71 99 — — —
’25 49 60 67 87 264
’24 1 31 59 74 164
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (72) (61) — — —
’25 (104) (67) (79) (53) (302)
’24 (122) (98) (59) (73) (353)
’23 (100) (94) (84) (84) (362)
’22 (74) (78) (64) (78) (293)
’21 (62) (54) (58) (54) (228)
’20 (65) (37) (41) (63) (205)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (79) (66) — — —
’25 (110) (75) (90) (62) (336)
’24 (126) (99) (61) (77) (364)
’23 (105) (103) (88) (87) (384)
’22 (85) (82) (65) (81) (313)
’21 (73) (64) (67) (61) (266)
’20 (66) (42) (58) (86) (252)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.19) (0.11) — — —
’25 (0.36) (0.33) (0.25) (0.18) (1.09)
’24 (0.42) (0.34) (0.28) (0.26) (1.28)
’23 (0.50) (0.47) (0.46) (0.45) (1.89)
’22 (0.58) (0.63) (0.63) (0.64) (2.49)
’21 (0.51) (0.53) (0.55) (0.63) (2.23)
’20 (0.55) (0.47) (0.40) (0.47) (1.88)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 4.24 4.45 7.26 8.26 18.70 15.88 5.42 3.21 7.05 1.64

Analyst estimates 2026–2028

Powerpack
High 9.58 9.54 19.90 29.68 52.43 54.21 19.66 9.36 18.33 8.15
People
People Employees 51 63 88 148 241 319 503 557 838 975
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.20 0.27
Income, $m
Income, $m Revenue — — — — — — — 1 164 264
Gross margin, % — — — — — — — 13.12 43.17 34.28
EBT (53) (92) (124) (198) (260) (342) (396) (448) (375) (393)
EBT margin, % 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (37,638.02) (228.56) (149.16)
Net income (53) (92) (124) (198) (260) (342) (396) (444) (372) (391)
Depreciation 1 1 0 (2) 3 20 22 30 38 40
Per share, $
Per share, $ Revenue 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.57 0.74
Earnings (1.85) (1.41) (1.27) (1.59) (1.88) (2.23) (2.49) (1.89) (1.28) (1.09)
Cash flow (0.59) (1.21) (1.04) (1.28) (1.48) (1.49) (1.84) (1.54) (1.22) (0.85)
Capex (0.03) (0.02) (0.01) (0.06) (0.34) (0.24) (0.13) (0.09) (0.04) (0.09)
Free cash flow (0.62) (1.22) (1.05) (1.33) (1.82) (1.73) (1.97) (1.63) (1.26) (0.94)
Book value 3.02 2.23 4.79 2.40 4.75 4.05 3.14 2.49 2.45 1.95
Shares, m 55 65 97 124 138 153 159 235 290 357
Valuation, ×
Valuation, × P/E — — — — — — — 0.00 0.00 0.00
P/S — — — — — — — 0.00 13.07 3.70
P/B — — — — — — — 3.26 3.02 1.40
EV/Sales — — — — — — — 0.00 11.11 2.58
EV/FCF — — — — — — — (4.23) (5.01) (2.02)
Cash, $m
Cash, $m Operating cash flow (33) (79) (101) (159) (205) (228) (293) (362) (353) (302)
Capex (2) (1) (1) (7) (47) (38) (20) (22) (11) (34)
Free cash flow (34) (80) (102) (166) (252) (266) (313) (384) (364) (336)
Balance, $m
Balance, $m Working capital 165 140 461 277 581 419 388 198 335 304
Total debt — — — 4 — 1 1 1 1 —
Net debt (166) (145) (469) (303) (629) (503) (471) (279) (323) (297)
Shareholders’ equity 167 145 466 299 656 622 500 585 710 699
Returns, %
Returns, % ROA (73.75) (56.26) (38.85) (47.86) (46.64) (44.28) (54.93) (61.49) (44.02) (42.88)
ROIC (7,483.12) (53,748.26) 0.00 0.00 (604.97) (181.13) (865.83) (94.15) (63.73) (62.77)
ROE (75.55) (58.94) (40.41) (51.64) (54.34) (53.55) (70.61) (81.91) (57.48) (55.50)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Iovance Biotherapeutics, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SYRE Spyre Therapeutics, Inc. $7.4B — (loss-making) — (loss-making) −100.00% (below 0%: shrinking) n/m −50.07% (below 0%: shrinking) 0.00% 0.00% Compare
IONS Ionis Pharmaceuticals, Inc. $7.3B — (loss-making) — (loss-making) −40.73% (below 0%: shrinking) n/m +299.29% (above 0%: growing) 98.98% (38.18%) Compare
PRAX Praxis Precision Medicines, Inc. $6.9B — (loss-making) — (loss-making) +1,349.13% (above 0%: growing) n/m −43.54% (below 0%: shrinking) 100.00% 0.00% Compare
IOVA Iovance Biotherapeutics, Inc. $6.7B — (loss-making) — (loss-making) +65.65% (above 0%: growing) n/m +11.52% (above 0%: growing) 56.10% (52.26%)
BLTE Belite Bio, Inc. Sponsored ADR $6.2B — (loss-making) — — n/m +64.67% (above 0%: growing) — 0.00% Compare
RYTM Rhythm Pharmaceuticals, Inc. $6.1B — (loss-making) — (loss-making) +46.91% (above 0%: growing) n/m +60.74% (above 0%: growing) 87.47% (68.14%) Compare
LGND Ligand Pharmaceuticals Incorporated $6.0B 29.5× 54.7× +33.73% (above 0%: growing) +868.00% (above 0%: growing) +35.53% (above 0%: growing) 94.95% 13.49% Compare
IMVT Immunovant, Inc. $5.7B — (loss-making) — — n/m −5.96% (below 0%: shrinking) 0.00% 0.00% Compare
KOD Kodiak Sciences Inc. $5.5B — (loss-making) — — n/m −33.86% (below 0%: shrinking) 0.00% 0.00% Compare
Median of peers $6.1B — — +33.73% — +14.79% 87.47% 0.00%

All 614 Biotechnology stocks →

Iovance Biotherapeutics, Inc. (IOVA) key facts

  • Strength: Iovance Biotherapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $263.5 million, up 60.6% from fiscal 2024.
  • Iovance Biotherapeutics, Inc. (IOVA) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
  • As of October 16, 2026, IOVA traded at $13.58, a market capitalization of $6.7 billion.
  • Return on equity was −55.5% and debt-to-equity 0.00.
  • Its Piotroski F-score is 4 out of 9 and its Altman Z-score is −2.30 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Iovance Biotherapeutics, Inc. (IOVA) Latest News

25 Feb

Impact 5 ·
stockrow.com/IOVA · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com