Immuron Limited (IMRN) is a Healthcare stock trading at $1.16 (as of 2026-08-21), with a market capitalization of $271.39M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
Understand Immuron Limited: how it makes money
Immuron Limited is a healthcare company focused on pharmaceutical products, earning revenue from pharmaceutical product sales.
The profit model shows a wide gap between product-level profitability (gross margin 67%) and overall earnings power (operating margin -86%), meaning operating costs currently overwhelm gross profit.
Business quality (Unprofitable): Unprofitable (operating margin -86%).
Bull case
67% gross margin suggests product economics: A gross margin of 67% indicates the business can generate meaningful gross profit per dollar of revenue. If operating expenses can be brought under control, that gross profit could translate into better operating results.
Gross profit can support investment: With gross margin at 67%, the company has positive gross economics. That can matter if management needs to fund R&D and commercialization before reaching operating profitability.
Bear case
Operating margin -86% highlights cost drag: An operating margin of -86% shows operating costs are far greater than gross profit. This makes the path to sustained profitability difficult unless the cost base changes materially.
Valuation — source: SEC EDGAR (first-party)
Price
$1.16
Market Cap
$271.39M
Price / Book
33.63
Price / Sales
49.58
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)
$7.29M
Net Margin
-71.6%
Revenue Growth (YoY)
48.6%
EPS Growth (YoY)
-25.7%
Valuation vs Sector & Industry
Sector P/E (Healthcare)
21.7
Industry P/E (Pharmaceutical Products)
17.2
Company
Sector
Healthcare
Industry
Pharmaceutical Products
Related Companies (Business model: Biotech (Clinical / Commercial-Stage); 8 closest by market cap; US-domiciled)