AC Immune SA (ACIU)

Nasdaq: ACIU · Pharmaceutical Preparations · 1015 Lausanne, CH · filing with the SEC since 2015

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Grade4.4

◀ Past 5.3● Present 4.1▶ Future 3.9

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of AC Immune SA

Nine metrics read from its own filings, by tense

Headline grade

4.4/10

◀ Past5.325% of the headline

● Present4.135% of the headline

▶ Future3.940% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.3/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

8.2/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 22% of this tense · 82nd percentile among 497 sector filers · read for itself

From the record

AC Immune SA's filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

2.6/10

What has it actually done, year after year?

-18.8% a year over 10 filed years; profitable in 1 of 10.

weight 45% of this tense · 26th percentile among 323 sector filers · read for its customers

From the record

AC Immune SA's 10 filed years say what it did: revenue went from CHF 23 million in fiscal 2016 to CHF 4 million in fiscal 2025, down 18.8% a year; it rose in 3 of 8 years; the deepest fall was 100% from fiscal 2019 to fiscal 2021; net income was positive in 1 of 10 of those years (its annual reports).

What it rests on

revenue growth over the filed span-18.8%bottom 15% of its family
the share of years revenue rosebottom 22% of its family
the share of filed years with a profittop 42% of its family
the deepest fall from a revenue peak100.0%bottom 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

7.1/10

How has it treated the people who own it?

SI estimate 7.1/10, confidence 35 of 100 (one part).

weight 33% of this tense · 71st percentile among 464 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the top 29% of 464 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 464 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: AC Immune SA's shareholder treatment is put at 7.1 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the top 29% of 464 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

4.1/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

4.2/10

Is it financially healthy right now?

ROE -157%: lost 157¢ per shareholder dollar. Leverage 71%: owes 71¢ per asset dollar.

weight 45% of this tense · 42nd percentile among 473 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, AC Immune SA lost about 157 cents for every dollar of shareholders' money. Leverage: it owed about 71 cents per dollar of assets, and net share issuance: its share count grew 1.1% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 21% of its family
return on equitybottom 20% of its family
the share count against the year beforetop 16% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

2.8/10

How strong is its position in its industry?

bottom 28% of 315 in its family; net margin -1971.6%.

weight 22% of this tense · 28th percentile among 315 sector filers · read for its customers

From the record

AC Immune SA's standing among 315 graded names in its industry family: revenue of CHF 4 million in fiscal 2025 is not ranked by size, since the family reports in another currency; a net margin of -1971.6% ranks in the bottom 24%; revenue growth of -3.2% a year over the last 3 filed years ranks in the bottom 32% (its annual reports).

What it rests on

net margin-1971.6%bottom 24% of its family
three-year revenue growth-3.2%bottom 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.0/10

What are the people in charge doing?

SI estimate 5.0/10, confidence 20 of 100 (family median).

weight 33% of this tense · 50th percentile among 371 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 371 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 371 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: AC Immune SA's leadership is put at 5.0 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 371 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

3.9/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed

4.5/10

How much room does it have to grow?

bottom 46% of 273 in its family for room to expand.

weight 33% of this tense · 46th percentile among 273 sector filers · read for itself

From the record

AC Immune SA's room to grow, from the newest filed statements (fiscal 2025): cash of CHF 27 million against no long-term debt tagged leaves 17.4% of its assets as net cash, bottom 35% of its family; cash from operations less capital spending is -1963.7% of revenue (bottom 17%); research spending of 1579.5% of revenue (top 16%) (its annual report).

What it rests on

cash less debt against assets17.4%bottom 35% of its family
cash from operations less capital spending against revenue-1963.7%bottom 17% of its family
research spending against revenue1579.5%top 16% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

4.6/10

What could actually drive growth from here?

bottom 46% of 306 in its family for growth drivers.

weight 45% of this tense · 46th percentile among 306 sector filers · read for its customers

From the record

AC Immune SA's growth drivers, from the filed years to fiscal 2025: revenue grew -3.2% a year over the last three filed years against -18.8% over all 10, speeding up (top 16% of its family); the newest year grew -86.9% (bottom 5%); research spending grew -2.2% a year (bottom 43%); capital spending grew -10.1% a year (top 48%) (its annual reports). AC Immune SA tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span+15.6 points a yeartop 16% of its family
the newest year's revenue growth-86.9%bottom 5% of its family
three-year growth of research spending-2.2%bottom 43% of its family
three-year growth of capital spending-10.1%top 48% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

1.6/10

Did its newest year beat what its own record pointed to?

bottom 16% of 233 in its family for expectations against reality.

weight 22% of this tense · 16th percentile among 233 sector filers · read for its shareholders

From the record

AC Immune SA's newest year against its own record: revenue of CHF 4 million in fiscal 2025 came in 95% below the CHF 72 million its prior three years' pace pointed to (bottom 4% of its family); net income of CHF 70 million against a prior three-year average of CHF 59 million (bottom 33%); a net margin of a loss larger than its revenue against losses larger than its revenue before (bottom 12%) (its annual reports).

What it rests on

revenue against the prior three years' pace-95.0%bottom 4% of its family
net income against the prior three years' average-20%bottom 33% of its family
net margin against its prior averagedown more than 100 pointsbottom 12% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton ACIU · research, not advice