Loading…
Licenses large-format cinema projection systems and remasters films for premium IMAX theater screens worldwide.
Licenses large-format cinema projection systems and remasters films for premium IMAX theater screens worldwide.
Most theater deals are revenue-sharing: it installs systems with little upfront cost and takes a share of box office rather than selling the equipment outright. Studios also pay it fees to remaster films into its format. Its earnings therefore follow the strength of the film slate.
Moat: narrow (brand, installed base, network effects). IMAX brand recognition and a global network of premium screens create a marketing draw studios pay for.
Headquarters: New York, US · Founded: 1967 · Employees: 679
Size IMAX (IMAX) is a United States Consumer Discretionary company (Electronics/Appliances) with a market value of $2.61B, the 1625th largest of 3,117 United States companies the cockpit tracks. Shares closed at $47.67 on 6 Nov 2026.
Performance Over six months the shares gained 35.0%, against -3.0% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 14.8% over the last twelve months (peer median +0.7%); the operating margin is 22.8% (peer median 7.0%).
Valuation It trades at 18.8× forward earnings against a peer median of 18.1× (10th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 12% a year for seven years (Req g). Recent delivered growth is +25%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.9 points above its cost of capital (7.3% WACC).
Backlog Backlog (remaining performance obligations) was $28.3M at 31 Dec 2025, up 7% on a year earlier — 0.1 years of trailing revenue. Backlog detail →
Short interest Short interest is 12.7% of the free float (15 Oct 2026).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $416M | $410M | $352M | $375M | $301M |
| Revenue growth | — | +16% | -6% | +25% | — |
| Gross profit | $240M | $238M | $186M | $209M | $151M |
| EBITDA | $157M | $158M | $118M | $116M | $61.1M |
| Net income | $40.9M | $34.9M | $26.1M | $25.3M | -$22.8M |
| Free cash flow | $126M | $119M | $62.4M | $52.1M | $8.90M |
| Capital expenditure | $10.3M | $13.5M | $16.9M | $14.8M | $12.8M |
| Total debt | $283M | $290M | $278M | $265M | $279M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| IMAX IMAX | $2.61B | +35% | +15% | 23% | 18.8× | 12.2% |
| Dolby Laboratories DLB | $6.07B | +11% | +1% | 19% | 14.3× | 10.0% |
| Cinemark CNK | $4.51B | +44% | +13% | 15% | 14.8× | 2.4% |
| CJ CGV 079160.KS | $629M | +5% | +12% | 5% | n/a | 8.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | IMAX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.1% | +0.3% | 8th lowest of 21 |
| 6-month return | +35.0% | -3.0% | 2nd highest of 21 |
| Distance from 52-week high | -17.4% | -30.1% | 8th highest of 21 |
| Revenue growth (TTM) | +14.8% | +0.7% | 4th highest of 21 |
| Operating margin | 22.8% | 7.0% | 2nd highest of 21 |
| Forward P/E | 18.8× | 18.1× | 10th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 12.2% | 3.7% | 5th most demanding of 15 |
| Growth delivered (Del g) | +24.5% | +6.1% | 3rd highest of 15 |
| Hurdle (Req g minus delivered) | -12.3 pp | -4.0 pp | 4th least demanding of 15 |
| ROIC minus cost of capital | +3.9 pp | +0.4 pp | 8th highest of 21 |
| EV / EBITDA | 18.0× | 7.9× | most expensive of 8 |
| Net debt / EBITDA | 0.8× | 1.7× | 5th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| IMAX IMAX | United States | $2.61B | +35% | +15% | 23% | 18.8× | 12.2% | +24.5% |
| Electrolux ELUX-A.ST | Sweden | $2.50B | +11% | -3% | -1% | 18.1× | 1.2% | +2.6% |
| Casio Computer 6952.T | Japan | $2.74B | +24% | +12% | 11% | 15.9× | 0.2% | +4.0% |
| Kingclean Electric 603355.SS | China | $2.79B | +4% | -2% | 8% | 35.9× | 4.4% | +9.4% |
| Joyoung 002242.SZ | China | $2.87B | +131% | -7% | -1% | 159.7× | n/a | n/a |
| Cowell e 1415.HK | Hong Kong | $2.38B | -33% | +15% | 7% | 9.8× | -10.3% | +36.2% |
| Theon International THEON.AS | Netherlands | $2.36B | -10% | +32% | 23% | 17.1× | 18.7% | +52.2% |
| Shanghai Flyco Electrical Appliance 603868.SS | China | $2.34B | +4% | +1% | 17% | 24.2× | 4.6% | +1.5% |
| Hangzhou Robam Appliances 002508.SZ | China | $2.28B | -10% | -18% | 8% | 14.4× | 6.3% | +4.5% |
| Nikon 7731.T | Japan | $3.17B | -12% | -4% | -2% | 45.4× | n/a | n/a |
| Breville BRG.AX | Australia | $3.33B | +13% | +7% | 11% | 31.1× | 26.4% | +8.8% |
| Whirlpool WHR | United States | $2.01B | -32% | -6% | 2% | n/a | n/a | n/a |
| Spectrum Brands SPB | United States | $1.99B | +6% | +1% | 9% | 17.1× | -2.5% | +1.4% |
| Sonos SONO | United States | $1.94B | +9% | +6% | 6% | 149.2× | 17.3% | +1.7% |
| Seb SK.PA | France | $3.55B | +8% | -1% | 8% | 12.1× | -0.8% | +3.3% |
| Tatung 2371.TW | Taiwan | $1.70B | -15% | +8% | 4% | 10.0× | n/a | n/a |
| Ecovacs Robotics 603486.SS | China | $4.22B | -25% | +10% | 7% | 14.5× | 16.2% | +21.4% |
| Hisense Home Appliances 0921.HK | Hong Kong | $4.26B | -24% | -6% | 3% | 9.3× | -13.5% | +11.9% |
| Edifier Technology 002351.SZ | China | $1.60B | +8% | -1% | 18% | 22.3× | 3.0% | +7.6% |
| Shenzhen MTC 002429.SZ | China | $4.30B | -42% | +3% | 7% | 22.1× | n/a | n/a |
| Sichuan Jiuzhou Electric 000801.SZ | China | $1.58B | -19% | +20% | 3% | 45.1× | n/a | n/a |
IMAX reported $28.3M of remaining performance obligations at 31 Dec 2025, up 7% from a year earlier. That is 0.1 years of trailing revenue already under contract.