IMAX
IMAX NYSE· Movies & Entertainment
Last close · Oct 26, 2026
$52.08
KIRA · Stoqly’s AI analyst, in plain words
- IMAX had $410M of revenue in fiscal 2025, up 16.5% on the year before. Over five years, revenue changed +24.5% a year on average.
- Its operating margin was 20.5%, up 8.1 pts: of every 100 in sales, about 21 is left after running the business.
- IMAX made $34.9M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 4.6% a year.
- Free cash flow was $119M in fiscal 2025, 29.0% of revenue.
- IMAX returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 3.1%.
Market cap
$2.9B
P/E
72.3x
Revenue
$410M
Net income
$34.9M
Free cash flow
$119M
Operating margin
20.5%
IMAX in 30 seconds · fiscal 2025
Are sales growing?
+16.5%
Yes. Sales grew 16.5% last year.
Does it make a profit?
8.5%
A little. It keeps 8.5% of every sale as profit.
Does profit turn into cash?
29.0%
Yes. 29.0% of sales ends up as free cash.
How is the share priced?
72.3x
One share costs 72.3 times its yearly profit per share. Typical for its sector: 17.1x.
What IMAX does
IMAX is a Canadian company that makes large-screen movie theater systems: projectors, sound systems, screens and auditorium designs. It sells or leases them to cinema operators, mostly multiplex chains, and to museums and science centers. IMAX does not run the theaters itself, apart from one. At the end of 2025 there were 1,864 IMAX systems in 91 countries and territories, and 76% of those in commercial multiplexes were outside the U.S. and Canada. IMAX reports two segments. Content Solutions works for studios and creators: IMAX converts films into its format and shows them across its network, typically earning about 12.5% of the box office. It also distributes documentaries, concert films and live events. Technology Products and Services sells, leases and maintains the systems for theater operators. Under some deals, called joint revenue sharing arrangements, IMAX takes a share of a theater's ticket sales instead of an upfront fee.
Biggest risks, in its own words
- Its results depend on how many films and events are released in IMAX format and how well they do at the box office.
- Its large and growing presence in China, which accounts for much of its network and backlog of planned systems.
- Rival large-format screens and new technologies from theater chains and others.
- Planned theater installations may not happen, so its backlog may not turn into revenue and cash.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 25, 2026
- Legal name
- IMAX Corporation
- CIK
- 0000921582
IMAX · IMAX
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $255M | $301M | $375M | $352M | $410M |
| Revenue growth | 86.0% | 18.0% | 24.6% | −6.0% | 16.5% |
| Gross margin | 52.7% | 52.0% | 57.2% | 54.0% | 60.0% |
| Operating margin | 4.3% | −1.6% | 13.5% | 12.5% | 20.5% |
| Net income | −$22.3M | −$22.8M | $25.3M | $26.1M | $34.9M |
| Net margin | −8.8% | −7.6% | 6.8% | 7.4% | 8.5% |
| Diluted EPS | −$0.38 | −$0.40 | $0.46 | $0.48 | $0.63 |
| Cash | |||||
| Cash from operations | $6.1M | $17.3M | $58.6M | $70.8M | $127M |
| Capital expenditure | $3.6M | $8.4M | $6.5M | $8.4M | $8.2M |
| Free cash flow | $2.5M | $8.9M | $52.1M | $62.4M | $119M |
| FCF margin | 1.0% | 3.0% | 13.9% | 17.7% | 29.0% |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $13.9M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share count change | −0.2% | −4.2% | −2.7% | −2.3% | 3.1% |
| Debt and strength | |||||
| Cash and short-term investments | $190M | $97.4M | $76.2M | $101M | $151M |
| Shareholders' equity | $356M | $263M | $273M | $300M | $338M |
| Interest coverage | 1.6x | −0.8x | 7.4x | 5.4x | 11.4x |
| Returns and quality | |||||
| Return on equity | −6.0% | −7.4% | 9.4% | 9.1% | 10.9% |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$69.7M
9 insiders
Of sales under plans
58%
$40.4M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
IMAX · IMAX
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| IMAX IMAX | $2.9B | 16.5% | 20.5% | 29.0% | — | 72.3x | — |
| Madison Square Garden Sports MSGS | $9.3B | 11.0% | 2.5% | 5.3% | — | — | 7 |
| Sphere Entertainment SPHR | $4.0B | 18.8% | −18.8% | — | −4.8% | — | 7 |
| Lionsgate Studios LION | $3.5B | 1.8% | 3.7% | 0.4% | 8.3% | — | 5 |
| TKO Group TKO | $13.0B | −3.1% | 17.6% | — | 5.9% | — | 5 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $52.08 a share, the company is worth $2.9B: 72.3 times its earnings of the last four quarters.
IMAX grew sales faster than 3 of its 4 similar companies.
Source: SEC EDGAR XBRL filings (CIK 0000921582). Data updated October 10, 2026. For information only — not investment advice. Check the original filings before relying on any figure.