Is the business good?
How good a business is IOVA?
Iovance Biotherapeutics, Inc. earns −70% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−70%
Return on invested capital · cost of capital 9.0% · 79 points below what the capital costs: growth destroys value
- Operating margin
- −127%
Operating margin · Biotechnology median −72% · 12 months to Q1 2026
- R&D as % of revenue
- 101%
R&D as % of revenue
- Gross margin
- 37%
Gross margin
| Year | Operating margin |
|---|---|
| FY2023 | −38735% |
| FY2024 | −241% |
| FY2025 | −153% |
Details›
- Gross margin12 months to Q1 2026
- 37%
- Operating margin12 months to Q1 2026
- −127%
- Net margin12 months to Q1 2026
- −124%
- Free cash flow margin
- −107%
- R&D as % of revenue
- 101%
- Revenue, trailing twelve months
- $286M
- Free cash flow, trailing twelve months
- −$305M
- Net income, trailing twelve months
- −$354M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −70%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.