Image Resources Valuation

Is IMA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of IMA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate IMA's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate IMA's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IMA?

Key metric: As IMA is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for IMA. This is calculated by dividing IMA's market cap by their current revenue.
What is IMA's PS Ratio?
PS Ratio	2.5x
Sales	AU$38.07m
Market Cap	AU$94.26m

IMA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.6x
Enterprise Value/EBITDA	-5.1x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does IMA's PS Ratio compare to its peers?

The above table shows the PS ratio for IMA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	15.3x
ATR Astron	10x	n/a	AU$121.7m
RDM Red Metal	20.7x	n/a	AU$39.6m
NTU Northern Minerals	30.4x	84.2%	AU$136.1m
MSV Mitchell Services	0.3x	1.9%	AU$73.6m
IMA Image Resources	2.5x	n/a	AU$94.3m

Price-To-Sales vs Peers: IMA is good value based on its Price-To-Sales Ratio (2.5x) compared to the peer average (15.3x).

Price to Sales Ratio vs Industry

How does IMA's PS Ratio compare vs other companies in the AU Metals and Mining Industry?

123 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	63.4x	2.7%
IMA Image Resources	2.5x	n/a	US$61.56m
BHP BHP Group	2.4x	-4.1%	US$133.54b
FMG Fortescue	2x	-5.6%	US$35.66b

123 Companies		Estimated Growth	Market Cap
Industry Avg.	63.4x	10.6%
IMA Image Resources	2.5x	n/a	US$61.56m

No more companies

Price-To-Sales vs Industry: IMA is good value based on its Price-To-Sales Ratio (2.5x) compared to the Australian Metals and Mining industry average (63.4x).

Price to Sales Ratio vs Fair Ratio

What is IMA's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IMA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2.5x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate IMA's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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