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IMAX Corporation

Rank #244Op. LeverageWatchlistCompare with other stocks

IMAX · NYSE · Communication Services

IMAX Corporation (IMAX) — Rank #244 by gross profitability (GP/assets 0.27) · ROE 9.8% · Piotroski F-Score N/A.

As-of 2026-10-30 · 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

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

679

Industry

Entertainment

Exchange

NYSE

9/11

Flags passed

IMAX passes 9/11 quality flags

2 cautions to review

  • CAUTION
    Dilution above 2%

    Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation

  • CAUTION
    Disclosure regression

    A previously-disclosed line item is no longer reported — worth checking the filing for why

  • PASS
    Gross margin holding
  • PASS
    FCF not negative from investment
  • PASS
    Revenue not declining
  • PASS
    Operating margin holding
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Revenue growth accelerating · Operating leverage expanding · Sequential beat (rev + EPS)

No data Balance sheet — not counted as a pass.

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.27
Return on equity
9.8%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.04
Current ratio
—
Net cash
$159.92M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
6.5%

Growth

1/2 pass
Revenue growth
16.5%
Piotroski F-Score
N/A
Share dilution
3.1%

Operating margin expansion and free cash flow are the primary reads at this stage.

Profitability

Does it make money well?

No warning flags · GP/assets 30th percentile of 41 SIC 38 peers

Gross profitability (GP / assets)

0.27

Primary signal (Novy-Marx).

30th pctl of 41 SIC 38 peers

Return on equity

9.8%

Gross margin

60.0%

57th pctl of 41 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.

PASS

Operating Leverage

2022202320242025
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%

Cash Flow Health

Is the cash real?

No warning flags · FCF 241% above net income

Free cash flow

$118.90M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

240.9%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

6.5%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

Caution: Dilution above 2% · net cash $159.92M

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.04

33rd pctl of 40 SIC 38 peers (best = lowest)

Current ratio

—

Quick ratio

—

Net cash

$159.92M

Cash & equivalents minus total debt.

Piotroski F-Score

N/A

Only 7/9 components determinable.

Valuation

Is the price reasonable?

No warning flags

Capital allocation quality

Composite score

3.0 / 5

Good
Share count trend
3.1%1/5 Weak
Buyback timing
N/AN/A
Dividend growth consistency(non-payer or broken streak)
0 yr3/5 Good
Net debt trajectory(deleveraging)
5.7%5/5 Strong

Lifecycle Phase History

20202025
Decline
Hypergrowth
Startup
Op. Leverage

Price History

IMAX+217.1% · +25.9% CAGRSPY+82.9% · +12.8% CAGR

View full financial statements →

Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports