IMAX Corporation
Rank #254Op. LeverageIMAX · NYSE · Communication Services
IMAX Corporation (IMAX) — Rank #254 by gross profitability (GP/assets 0.27) · ROE 9.8% · Piotroski F-Score N/A.
As-of 2026-09-15 · CIK 0000921582 · all metrics point-in-time as of the filing date.
About
IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events in the United States, Canada, Greater China, rest of Asia, Western Europe, Latin America, and internationally.
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It operates through Content Solutions; and Technology Products and Services segments. The company offers IMAX film remastering, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced, which provides end-to-end technology across streaming content and entertainment devices at home; AI-driven video quality solutions for media and entertainment companies; and streaming technology software products. It also provides preventative and emergency maintenance services, and quality monitoring to the IMAX network; film post-production services; and IMAX film and digital cameras for content creators. In addition, the company engages in the distribution of 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; sale or lease of IMAX theater systems; provision of management services to theaters; and rental of company's proprietary 2D and 3D large-format film cameras. The company markets its theater systems through a direct sales force and marketing staff to science and natural history museums, zoos, aquariums, 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 IMAX, IMAX Live, IMAX Enhanced, and IMAX StreamSmart.
IMAX Corporation was founded in 1967 and is headquartered in Mississauga, Canada.
- Industry
- Entertainment
- Sector
- Communication Services
- State
- A6
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- imax.com
Price History
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
$2.92B
P/E (annual)
84.6
P/S (annual)
7.1
P/B
8.2
P/OCF (annual)
23.0
Shareholder Yield
-3.1%
Employees
679
Industry
Entertainment
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
1/2 passTerry Smith quality gate
Passes 3/5 Terry Smith thresholds2 of 5 thresholds not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
10.7%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Dilution drag: 3.1% — per-share value needs a total required return of 13.8% once share-count change is priced in.
vs. own 6-year median revenue growth: 17.2%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
6.2%
r = 10% (base)
10.7%
r = 12%
14.6%
Net debt / market cap: -5.4%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Disclosure regression check
A previously-disclosed line item is no longer reported. Worth checking the filing for why.
Operating margin expansion and free cash flow are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.27
Primary signal (Novy-Marx).
36th pctl of 37 SIC 38 peers
Return on equity
9.8%
Gross margin
60.0%
56th pctl of 37 SIC 38 peers
Revenue growth (YoY)
16.5%
RPO growth (YoY)
6.8%
Remaining performance obligations growth — RPO > revenue = forward demand building.
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
10.9%
Revenue CAGR (5Y)
24.5%
Earnings CAGR (3Y)
—
FCF CAGR (3Y)
137.3%
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.04
41st pctl of 35 SIC 38 peers (best = lowest)
Current ratio
—
Quick ratio
—
Net cash
$159.92M
Cash & equivalents minus total debt.
Recession resistance
Revenue through recessions
Worst single-year YoY revenue decline, 17 years of history
Cash-flow health
Free cash flow
$118.90M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
2.41
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
6.5%
Stock-based comp intensity.
Piotroski F-Score
F-Score
N/A
Only 7/9 components determinable.