IMAX CORP (IMAX) Stock Fundamental Analysis
NYSE:IMAX - New York Stock Exchange, Inc. - CA45245E1097 - Common Stock - Currency: USD
We assign a fundamental rating of 5 out of 10 to IMAX. IMAX was compared to 72 industry peers in the Entertainment industry. IMAX has only an average score on both its financial health and profitability. IMAX has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
IMAX had positive earnings in the past year.
IMAX had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: IMAX reported negative net income in multiple years.
IMAX had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
The Return On Assets of IMAX (2.96%) is better than 73.61% of its industry peers.
Looking at the Return On Equity, with a value of 8.38%, IMAX is in the better half of the industry, outperforming 77.78% of the companies in the same industry.
IMAX has a Return On Invested Capital of 6.11%. This is in the better half of the industry: IMAX outperforms 75.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for IMAX is significantly below the industry average of 23.07%.
The last Return On Invested Capital (6.11%) for IMAX is above the 3 year average (4.23%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.96% | ||
| ROE | 8.38% | ||
| ROIC | 6.11% |
ROA(3y)1.16%
ROA(5y)-2.69%
ROE(3y)3.11%
ROE(5y)-6.85%
ROIC(3y)4.23%
ROIC(5y)N/A
1.3 Margins
With an excellent Profit Margin value of 6.98%, IMAX belongs to the best of the industry, outperforming 80.56% of the companies in the same industry.
In the last couple of years the Profit Margin of IMAX has declined.
With an excellent Operating Margin value of 14.59%, IMAX belongs to the best of the industry, outperforming 84.72% of the companies in the same industry.
In the last couple of years the Operating Margin of IMAX has declined.
Looking at the Gross Margin, with a value of 54.62%, IMAX is in the better half of the industry, outperforming 62.50% of the companies in the same industry.
IMAX's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 14.59% | ||
| PM (TTM) | 6.98% | ||
| GM | 54.62% |
OM growth 3Y86.93%
OM growth 5Y-7.23%
PM growth 3YN/A
PM growth 5Y-8.99%
GM growth 3Y0.8%
GM growth 5Y-0.05%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so IMAX is destroying value.
IMAX has less shares outstanding than it did 1 year ago.
IMAX has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, IMAX has a worse debt to assets ratio.
2.2 Solvency
An Altman-Z score of 1.94 indicates that IMAX is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 1.94, IMAX is in the better half of the industry, outperforming 63.89% of the companies in the same industry.
The Debt to FCF ratio of IMAX is 3.90, which is a good value as it means it would take IMAX, 3.90 years of fcf income to pay off all of its debts.
IMAX's Debt to FCF ratio of 3.90 is fine compared to the rest of the industry. IMAX outperforms 75.00% of its industry peers.
IMAX has a Debt/Equity ratio of 0.77. This is a neutral value indicating IMAX is somewhat dependend on debt financing.
IMAX has a Debt to Equity ratio (0.77) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.77 | ||
| Debt/FCF | 3.9 | ||
| Altman-Z | 1.94 |
ROIC/WACC0.88
WACC6.96%
2.3 Liquidity
IMAX has a Current Ratio of 1.50. This is a normal value and indicates that IMAX is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of IMAX (1.50) is better than 68.06% of its industry peers.
A Quick Ratio of 1.31 indicates that IMAX should not have too much problems paying its short term obligations.
IMAX's Quick ratio of 1.31 is fine compared to the rest of the industry. IMAX outperforms 65.28% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.5 | ||
| Quick Ratio | 1.31 |
3. Growth
3.1 Past
The earnings per share for IMAX have decreased by 0.00% in the last year.
IMAX shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -2.17% yearly.
IMAX shows a decrease in Revenue. In the last year, the revenue decreased by -1.99%.
IMAX shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -2.30% yearly.
EPS 1Y (TTM)0%
EPS 3YN/A
EPS 5Y-2.17%
EPS Q2Q%-13.33%
Revenue 1Y (TTM)-1.99%
Revenue growth 3Y11.38%
Revenue growth 5Y-2.3%
Sales Q2Q%9.53%
3.2 Future
IMAX is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 13.83% yearly.
The Revenue is expected to grow by 7.06% on average over the next years.
EPS Next Y22.74%
EPS Next 2Y21.19%
EPS Next 3Y15.62%
EPS Next 5Y13.83%
Revenue Next Year11.39%
Revenue Next 2Y8.39%
Revenue Next 3Y7.06%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 29.97 indicates a quite expensive valuation of IMAX.
Compared to the rest of the industry, the Price/Earnings ratio of IMAX indicates a somewhat cheap valuation: IMAX is cheaper than 79.17% of the companies listed in the same industry.
IMAX's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.19.
With a Price/Forward Earnings ratio of 19.97, IMAX is valued on the expensive side.
IMAX's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. IMAX is cheaper than 79.17% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 35.33, IMAX is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 29.97 | ||
| Fwd PE | 19.97 |
4.2 Price Multiples
IMAX's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. IMAX is cheaper than 72.22% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, IMAX is valued a bit cheaper than the industry average as 76.39% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 20.89 | ||
| EV/EBITDA | 14.58 |
4.3 Compensation for Growth
IMAX's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The decent profitability rating of IMAX may justify a higher PE ratio.
IMAX's earnings are expected to grow with 15.62% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.32
PEG (5Y)N/A
EPS Next 2Y21.19%
EPS Next 3Y15.62%
5. Dividend
5.1 Amount
IMAX does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
27.87
-0.03 (-0.11%)
Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryEntertainment
Earnings (Last)
Earnings (Next)
Inst Owners91.65%
Inst Owner Change0%
Ins Owners19.4%
Ins Owner Change0.94%
Market Cap1.50B
Analysts80
Price Target32.08 (15.11%)
Short Float %8.7%
Short Ratio4.51
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.74%
Min EPS beat(2)-6.42%
Max EPS beat(2)11.91%
EPS beat(4)3
Avg EPS beat(4)49.12%
Min EPS beat(4)-6.42%
Max EPS beat(4)138.86%
EPS beat(8)7
Avg EPS beat(8)74.71%
EPS beat(12)8
Avg EPS beat(12)23.52%
EPS beat(16)11
Avg EPS beat(16)18.84%
Revenue beat(2)1
Avg Revenue beat(2)-5.16%
Min Revenue beat(2)-11.37%
Max Revenue beat(2)1.04%
Revenue beat(4)2
Avg Revenue beat(4)0.02%
Min Revenue beat(4)-11.37%
Max Revenue beat(4)14.74%
Revenue beat(8)4
Avg Revenue beat(8)1.2%
Revenue beat(12)6
Avg Revenue beat(12)1.21%
Revenue beat(16)8
Avg Revenue beat(16)3.18%
PT rev (1m)1.17%
PT rev (3m)2.79%
EPS NQ rev (1m)-3.35%
EPS NQ rev (3m)-5.61%
EPS NY rev (1m)0.85%
EPS NY rev (3m)-9.36%
Revenue NQ rev (1m)-1.2%
Revenue NQ rev (3m)-1.25%
Revenue NY rev (1m)-0.22%
Revenue NY rev (3m)-0.75%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 29.97 | ||
| Fwd PE | 19.97 | ||
| P/S | 4.16 | ||
| P/FCF | 20.89 | ||
| P/OCF | 16.87 | ||
| P/B | 5 | ||
| P/tB | 7.45 | ||
| EV/EBITDA | 14.58 |
EPS(TTM)0.93
EY3.34%
EPS(NY)1.4
Fwd EY5.01%
FCF(TTM)1.33
FCFY4.79%
OCF(TTM)1.65
OCFY5.93%
SpS6.69
BVpS5.57
TBVpS3.74
PEG (NY)1.32
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.96% | ||
| ROE | 8.38% | ||
| ROCE | 7.71% | ||
| ROIC | 6.11% | ||
| ROICexc | 7.12% | ||
| ROICexgc | 10.94% | ||
| OM | 14.59% | ||
| PM (TTM) | 6.98% | ||
| GM | 54.62% | ||
| FCFM | 19.93% |
ROA(3y)1.16%
ROA(5y)-2.69%
ROE(3y)3.11%
ROE(5y)-6.85%
ROIC(3y)4.23%
ROIC(5y)N/A
ROICexc(3y)4.84%
ROICexc(5y)N/A
ROICexgc(3y)7.01%
ROICexgc(5y)N/A
ROCE(3y)5.33%
ROCE(5y)N/A
ROICexcg growth 3Y113.18%
ROICexcg growth 5Y-5.75%
ROICexc growth 3Y103.14%
ROICexc growth 5Y-8.28%
OM growth 3Y86.93%
OM growth 5Y-7.23%
PM growth 3YN/A
PM growth 5Y-8.99%
GM growth 3Y0.8%
GM growth 5Y-0.05%
F-Score4
Asset Turnover0.42
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.77 | ||
| Debt/FCF | 3.9 | ||
| Debt/EBITDA | 1.99 | ||
| Cap/Depr | 27.12% | ||
| Cap/Sales | 4.74% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 76.92% | ||
| Profit Quality | 285.52% | ||
| Current Ratio | 1.5 | ||
| Quick Ratio | 1.31 | ||
| Altman-Z | 1.94 |
F-Score4
WACC6.96%
ROIC/WACC0.88
Cap/Depr(3y)25.16%
Cap/Depr(5y)18.94%
Cap/Sales(3y)4.33%
Cap/Sales(5y)3.58%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)0%
EPS 3YN/A
EPS 5Y-2.17%
EPS Q2Q%-13.33%
EPS Next Y22.74%
EPS Next 2Y21.19%
EPS Next 3Y15.62%
EPS Next 5Y13.83%
Revenue 1Y (TTM)-1.99%
Revenue growth 3Y11.38%
Revenue growth 5Y-2.3%
Sales Q2Q%9.53%
Revenue Next Year11.39%
Revenue Next 2Y8.39%
Revenue Next 3Y7.06%
Revenue Next 5YN/A
EBIT growth 1Y-4.8%
EBIT growth 3Y108.21%
EBIT growth 5Y-9.36%
EBIT Next Year233.22%
EBIT Next 3Y52.46%
EBIT Next 5Y31.14%
FCF growth 1Y149.83%
FCF growth 3YN/A
FCF growth 5Y-7.57%
OCF growth 1Y109.83%
OCF growth 3Y126.45%
OCF growth 5Y-4.76%