IMAX CORP (IMAX) Stock Fundamental Analysis
NYSE:IMAX - New York Stock Exchange, Inc. - CA45245E1097 - Common Stock - Currency: USD
Overall IMAX gets a fundamental rating of 5 out of 10. We evaluated IMAX against 72 industry peers in the Entertainment industry. IMAX has an average financial health and profitability rating. 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.
In the past year IMAX had a positive cash flow from operations.
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
Looking at the Return On Assets, with a value of 2.96%, IMAX is in the better half of the industry, outperforming 79.17% of the companies in the same industry.
Looking at the Return On Equity, with a value of 8.38%, IMAX belongs to the top of the industry, outperforming 83.33% of the companies in the same industry.
The Return On Invested Capital of IMAX (6.11%) is better than 77.78% 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 21.79%.
The 3 year average ROIC (4.23%) for IMAX is below the current ROIC(6.11%), indicating increased profibility in the last year.
| 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
IMAX has a Profit Margin of 6.98%. This is amongst the best in the industry. IMAX outperforms 86.11% of its industry peers.
IMAX's Profit Margin has declined in the last couple of years.
The Operating Margin of IMAX (14.59%) is better than 87.50% of its industry peers.
In the last couple of years the Operating Margin of IMAX has declined.
IMAX's Gross Margin of 54.62% is fine compared to the rest of the industry. IMAX outperforms 62.50% of its industry peers.
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
IMAX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, IMAX has less shares outstanding
The number of shares outstanding for IMAX has been reduced compared to 5 years ago.
Compared to 1 year ago, IMAX has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.69, we must say that IMAX is in the distress zone and has some risk of bankruptcy.
With a decent Altman-Z score value of 1.69, IMAX is doing good in the industry, outperforming 65.28% 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 has a better Debt to FCF ratio (3.90) than 77.78% of its industry peers.
A Debt/Equity ratio of 0.77 indicates that IMAX is somewhat dependend on debt financing.
IMAX has a Debt to Equity ratio of 0.77. This is comparable to the rest of the industry: IMAX outperforms 45.83% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.77 | ||
| Debt/FCF | 3.9 | ||
| Altman-Z | 1.69 |
ROIC/WACC0.92
WACC6.65%
2.3 Liquidity
A Current Ratio of 1.50 indicates that IMAX should not have too much problems paying its short term obligations.
IMAX has a Current ratio of 1.50. This is in the better half of the industry: IMAX outperforms 70.83% of its industry peers.
IMAX has a Quick Ratio of 1.31. This is a normal value and indicates that IMAX is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.31, IMAX is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.5 | ||
| Quick Ratio | 1.31 |
3. Growth
3.1 Past
IMAX shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by 0.00%.
Measured over the past years, IMAX shows a decrease in Earnings Per Share. The EPS has been decreasing by -2.17% on average per year.
Looking at the last year, IMAX shows a decrease in Revenue. The Revenue has decreased by -1.99% in the last year.
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%9.54%
3.2 Future
Based on estimates for the next years, IMAX will show a very strong growth in Earnings Per Share. The EPS will grow by 27.68% on average per year.
The Revenue is expected to grow by 6.83% on average over the next years.
EPS Next Y35.06%
EPS Next 2Y23.63%
EPS Next 3Y19.34%
EPS Next 5Y27.68%
Revenue Next Year12.17%
Revenue Next 2Y8.51%
Revenue Next 3Y6.83%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 25.76, IMAX can be considered very expensive at the moment.
77.78% of the companies in the same industry are more expensive than IMAX, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 28.87. IMAX is around the same levels.
The Price/Forward Earnings ratio is 16.50, which indicates a correct valuation of IMAX.
90.28% of the companies in the same industry are more expensive than IMAX, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 21.38. IMAX is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.76 | ||
| Fwd PE | 16.5 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, IMAX is valued a bit cheaper than 72.22% of the companies in the same industry.
80.56% of the companies in the same industry are more expensive than IMAX, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 17.72 | ||
| EV/EBITDA | 12.56 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of IMAX may justify a higher PE ratio.
A more expensive valuation may be justified as IMAX's earnings are expected to grow with 19.34% in the coming years.
PEG (NY)0.73
PEG (5Y)N/A
EPS Next 2Y23.63%
EPS Next 3Y19.34%
5. Dividend
5.1 Amount
No dividends for IMAX!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
23.96
+0.06 (+0.25%)
Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryEntertainment
Earnings (Last)
Earnings (Next)
Inst Owners90.81%
Inst Owner Change0.09%
Ins Owners19.43%
Ins Owner Change1.65%
Market Cap1.27B
Analysts80
Price Target31.01 (29.42%)
Short Float %11.24%
Short Ratio4.34
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)0
Avg EPS beat(2)-14.95%
Min EPS beat(2)-23.48%
Max EPS beat(2)-6.42%
EPS beat(4)2
Avg EPS beat(4)40.27%
Min EPS beat(4)-23.48%
Max EPS beat(4)138.86%
EPS beat(8)6
Avg EPS beat(8)70.28%
EPS beat(12)7
Avg EPS beat(12)20.57%
EPS beat(16)10
Avg EPS beat(16)16.63%
Revenue beat(2)1
Avg Revenue beat(2)-5.39%
Min Revenue beat(2)-11.37%
Max Revenue beat(2)0.6%
Revenue beat(4)2
Avg Revenue beat(4)-0.09%
Min Revenue beat(4)-11.37%
Max Revenue beat(4)14.74%
Revenue beat(8)4
Avg Revenue beat(8)1.15%
Revenue beat(12)6
Avg Revenue beat(12)1.17%
Revenue beat(16)8
Avg Revenue beat(16)3.15%
PT rev (1m)1.33%
PT rev (3m)11.47%
EPS NQ rev (1m)0%
EPS NQ rev (3m)6.38%
EPS NY rev (1m)-0.26%
EPS NY rev (3m)-1.86%
Revenue NQ rev (1m)0.05%
Revenue NQ rev (3m)-0.98%
Revenue NY rev (1m)0.14%
Revenue NY rev (3m)-2.17%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.76 | ||
| Fwd PE | 16.5 | ||
| P/S | 3.53 | ||
| P/FCF | 17.72 | ||
| P/OCF | 14.31 | ||
| P/B | 4.24 | ||
| P/tB | 6.32 | ||
| EV/EBITDA | 12.56 |
EPS(TTM)0.93
EY3.88%
EPS(NY)1.45
Fwd EY6.06%
FCF(TTM)1.35
FCFY5.64%
OCF(TTM)1.67
OCFY6.99%
SpS6.79
BVpS5.65
TBVpS3.79
PEG (NY)0.73
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 | 1.69 |
F-Score4
WACC6.65%
ROIC/WACC0.92
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 Y35.06%
EPS Next 2Y23.63%
EPS Next 3Y19.34%
EPS Next 5Y27.68%
Revenue 1Y (TTM)-1.99%
Revenue growth 3Y11.38%
Revenue growth 5Y-2.3%
Sales Q2Q%9.54%
Revenue Next Year12.17%
Revenue Next 2Y8.51%
Revenue Next 3Y6.83%
Revenue Next 5YN/A
EBIT growth 1Y-4.8%
EBIT growth 3Y108.21%
EBIT growth 5Y-9.36%
EBIT Next Year216.7%
EBIT Next 3Y44.41%
EBIT Next 5Y37.72%
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%