Imax Corp
IMAX
Photographic Equipment & Supplies
Mkt Cap
$857.9MPE
32.80Debt
-Cash
$81.02MEV
-FCF
$19.2MP/E Ratio
32.80Debt
-Cash
$81.02MEV
-FCF
$19.2MCharts data: {"Earnings":[{"time":"2014-12-30","value":39310000},{"time":"2015-12-30","value":55075000},{"time":"2016-12-30","value":28788000},{"time":"2017-12-30","value":2344000},{"time":"2018-12-30","value":22844000},{"time":"2019-12-30","value":46866000},{"time":"2020-12-30","value":-157486000},{"time":"2021-12-30","value":-22329000},{"time":"2022-12-30","value":-22800000},{"time":"2023-12-30","value":25335000}],"Sales":[{"time":"2014-12-30","value":290541000},{"time":"2015-12-30","value":373805000},{"time":"2016-12-30","value":377334000},{"time":"2017-12-30","value":380767000},{"time":"2018-12-30","value":374401000},{"time":"2019-12-30","value":395664000},{"time":"2020-12-30","value":137003000},{"time":"2021-12-30","value":254883000},{"time":"2022-12-30","value":300805000},{"time":"2023-12-30","value":374839000}],"Net Margins":[{"time":"2014-12-30","value":0.1352993209220041},{"time":"2015-12-30","value":0.14733617795374593},{"time":"2016-12-30","value":0.07629315142552752},{"time":"2017-12-30","value":0.006155995661388723},{"time":"2018-12-30","value":0.06101479429809215},{"time":"2019-12-30","value":0.11844898701928909},{"time":"2020-12-30","value":-1.1495076750144158},{"time":"2021-12-30","value":-0.08760490107225669},{"time":"2022-12-30","value":-0.07579661242333073},{"time":"2023-12-30","value":0.06758901821848846}],"Assets":[{"time":"2014-12-30","value":621533000},{"time":"2015-12-30","value":931020000},{"time":"2016-12-30","value":857334000},{"time":"2017-12-30","value":866612000},{"time":"2018-12-30","value":873600000},{"time":"2019-12-30","value":889069000},{"time":"2020-12-30","value":997750000},{"time":"2021-12-30","value":883247000},{"time":"2022-12-30","value":821154000},{"time":"2023-12-30","value":814669000}],"Stockholders Equity":[{"time":"2014-12-30","value":382775000},{"time":"2015-12-30","value":673850000},{"time":"2016-12-30","value":621574000},{"time":"2017-12-30","value":602257000},{"time":"2018-12-30","value":592918000},{"time":"2019-12-30","value":637187000},{"time":"2020-12-30","value":464008000},{"time":"2021-12-30","value":429614000},{"time":"2022-12-30","value":329046000},{"time":"2023-12-30","value":344931000}],"ROE":[{"time":"2014-12-30","value":0.10269740709293972},{"time":"2015-12-30","value":0.08173183943014024},{"time":"2016-12-30","value":0.046314678541895256},{"time":"2017-12-30","value":0.0038920261615888233},{"time":"2018-12-30","value":0.03852809326078817},{"time":"2019-12-30","value":0.07355140641601288},{"time":"2020-12-30","value":-0.3394036309718798},{"time":"2021-12-30","value":-0.05197456321255825},{"time":"2022-12-30","value":-0.06929122371947995},{"time":"2023-12-30","value":0.07344947250319629}],"ROA":[{"time":"2014-12-30","value":0.09376010606033791},{"time":"2015-12-30","value":0.09531374191746686},{"time":"2016-12-30","value":0.06958548243741645},{"time":"2017-12-30","value":0.0368711718739182},{"time":"2018-12-30","value":0.05325206043956044},{"time":"2019-12-30","value":0.08787731885826634},{"time":"2020-12-30","value":-0.122095715359559},{"time":"2021-12-30","value":0.020468792987692004},{"time":"2022-12-30","value":-0.004739671243152928},{"time":"2023-12-30","value":0.061863161603055966}]}
IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates through three segments: IMAX Technology Network; IMAX Technology Sales and Maintenance; and Film Distribution and Post-Production. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies. It also offers preventative and emergency maintenance services to the IMAX network; film post-production services; and IMAX film and digital cameras to content creators. In addition, the company engages in the distribution of large-format documentary films to institutional theaters, as well as live performances and interactive events with artists and creators; after-market sales of IMAX System parts and 3D glasses; operation of IMAX theater; provision of management services to three other theaters, as well as production advice and technical assistance to documentary and Hollywood filmmakers; and rental of Company's proprietary 2D and 3D large-format film. The company markets its theater systems through a direct sales force and marketing staff to science and natural history museums, zoos, aquaria, and other educational and cultural centers, as well as theme parks, private home theaters, tourist destination sites, fairs, and expositions. It offers its services under the IMAX, IMAX 3D, Experience It In IMAX, The IMAX Experience, DMR, Filmed For IMAXTM, IMAX LiveTM, IMAX Enhanced, and SSIMWAVE. The company operates a network of IMAX systems comprising commercial multiplexes, commercial destinations, and institutional facilities in 87 countries and territories. IMAX Corporation was founded in 1967 and is headquartered in Mississauga, Canada.
Sector
DCF
Discounted Cash Flow Valuation of Imax Corp
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $19.2M | $17.69M | $16.31M | $15.03M | $13.85M | $12.76M | $11.76M | $10.84M | $9.992M | $9.208M | $8.487M | $84.87M |
| DCF | $15.39M | $12.33M | $9.881M | $7.919M | $6.346M | $5.086M | $4.076M | $3.266M | $2.618M | $2.098M | $20.98M | |
| Value | $89.98M | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth -8%
Earnings Stability -37%
Competitiveness and MOAT
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 15% | 7.6% | 0.62% | 6.1% | 12% | -110% | -8.8% | -7.6% | 6.8% | 7.1% |
| ROA | 9.5% | 7% | 3.7% | 5.3% | 8.8% | -12% | 2% | -0.47% | 6.2% | 6.2% |
| ROE | 8.2% | 4.6% | 0.39% | 3.9% | 7.4% | -34% | -5.2% | -6.9% | 7.3% | 7.9% |
What is the average Net Margin?
The average Net Margin over the past 5 years is -17.76%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is +1.46%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +1.61%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is -0.26%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is -4.59%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is +0.1%.
Safety & Stabiliy
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | 0.73 | 0.44 | 0.42 | 0.39 | 0.22 | -12.89 | 1.00 | - | - | - |
| Debt Equity | 0.04 | 0.04 | 0.04 | 0.06 | 0.03 | 0.66 | 0.01 | - | - | - |
| MIN | ||||||||||
| Graham Stability | - | - | 5.7% | 79% | 100% | -660% | - | - | - | -660% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is -.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is -1.13.
What is the Graham’s Stability?
Graham’s Stability measure stands at -6.56.
Growth
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
| Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | -0.095% | 0.023% | 40% | 25% | 2.4% |
| Net Income | -1.8% | 2.1% | - | - | 110% |
| Stockholders Equity | -8.1% | -10% | -9.4% | 4.8% | -6.1% |
| FCF | -2.6% | -12% | - | 490% | 54% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +0.02%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is +2.36%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is +2.09%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is +105.24%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is -10.27%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is -6.1%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is -11.61%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is +54.2%.