Imdex Limited

ASX:IMD Stock Report

Market Cap: AU$1.2b

Imdex Valuation

Is IMD 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-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: IMD (A$2.32) is trading below our estimate of fair value (A$3.54)

Significantly Below Fair Value: IMD is trading below fair value by more than 20%.

Key Valuation Metric

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

Key metric: As IMD is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for IMD. This is calculated by dividing IMD's market cap by their current earnings.
What is IMD's PE Ratio?
PE Ratio36.7x
EarningsAU$32.40m
Market CapAU$1.19b

Price to Earnings Ratio vs Peers

How does IMD's PE Ratio compare to its peers?

The above table shows the PE ratio for IMD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.3x
PRN Perenti
13.4x23.3%AU$1.3b
BLY Boart Longyear Group
42.4xn/aAU$861.1m
MAH Macmahon Holdings
13.9x11.1%AU$739.0m
ILU Iluka Resources
7.6x2.7%AU$2.1b
IMD Imdex
36.7x19.7%AU$1.2b

Price-To-Earnings vs Peers: IMD is expensive based on its Price-To-Earnings Ratio (36.7x) compared to the peer average (19.3x).

Price to Earnings Ratio vs Industry

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

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
KCN Kingsgate Consolidated
1.7x-13.3%US$207.15m
RHI Red Hill Minerals
1.7xn/aUS$165.24m
GRR Grange Resources
2.4xn/aUS$159.24m
PTN Patronus Resources
1.8xn/aUS$50.18m
IMD 36.7xIndustry Avg. 12.8xNo. of Companies10PE01020304050+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IMD is expensive based on its Price-To-Earnings Ratio (36.7x) compared to the Australian Metals and Mining industry average (12.8x).

Price to Earnings Ratio vs Fair Ratio

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

IMD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio36.7x
Fair PE Ratio18.7x

Price-To-Earnings vs Fair Ratio: IMD is expensive based on its Price-To-Earnings Ratio (36.7x) compared to the estimated Fair Price-To-Earnings Ratio (18.7x).

Analyst Price Targets

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

The above table shows the analyst IMD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$2.32
AU$2.35
+1.4%
8.6%AU$2.67AU$1.95n/a9
Dec ’25AU$2.56
AU$2.35
-8.1%
8.6%AU$2.67AU$1.95n/a9
Nov ’25AU$2.60
AU$2.29
-12.1%
8.3%AU$2.67AU$1.95n/a9
Oct ’25AU$2.36
AU$2.22
-6.1%
6.6%AU$2.40AU$1.95n/a9
Sep ’25AU$2.25
AU$2.18
-3.2%
8.0%AU$2.40AU$1.90n/a10
Aug ’25AU$2.36
AU$2.16
-8.4%
12.1%AU$2.50AU$1.60n/a9
Jul ’25AU$2.23
AU$2.12
-4.8%
12.4%AU$2.50AU$1.60n/a9
Jun ’25AU$2.22
AU$2.06
-7.2%
10.8%AU$2.30AU$1.60n/a8
May ’25AU$2.09
AU$2.15
+3.0%
9.4%AU$2.45AU$1.75n/a9
Apr ’25AU$2.33
AU$2.15
-7.6%
9.4%AU$2.45AU$1.75n/a9
Mar ’25AU$2.02
AU$2.15
+6.6%
9.4%AU$2.45AU$1.75n/a9
Feb ’25AU$1.65
AU$2.00
+21.7%
8.6%AU$2.20AU$1.60n/a8
Jan ’25AU$1.89
AU$2.02
+7.2%
8.3%AU$2.20AU$1.60n/a8
Dec ’24AU$1.86
AU$1.98
+6.6%
10.6%AU$2.23AU$1.60AU$2.569
Nov ’24AU$1.63
AU$1.98
+21.7%
10.6%AU$2.23AU$1.60AU$2.609
Oct ’24AU$1.56
AU$1.99
+28.1%
9.7%AU$2.23AU$1.60AU$2.369
Sep ’24AU$1.64
AU$2.04
+24.6%
6.7%AU$2.23AU$1.70AU$2.259
Aug ’24AU$2.00
AU$2.43
+21.7%
11.0%AU$2.86AU$2.00AU$2.369
Jul ’24AU$1.89
AU$2.54
+34.6%
10.7%AU$3.00AU$2.10AU$2.239
Jun ’24AU$1.80
AU$2.80
+55.4%
8.8%AU$3.20AU$2.23AU$2.229
May ’24AU$2.11
AU$2.90
+37.4%
5.2%AU$3.20AU$2.69AU$2.097
Apr ’24AU$2.25
AU$2.88
+28.1%
5.1%AU$3.20AU$2.69AU$2.338
Mar ’24AU$2.41
AU$2.77
+15.0%
14.0%AU$3.20AU$1.75AU$2.029
Feb ’24AU$2.49
AU$2.67
+7.1%
13.6%AU$3.00AU$1.75AU$1.659
Jan ’24AU$2.21
AU$2.51
+13.4%
13.3%AU$2.85AU$1.75AU$1.899
Dec ’23AU$2.34
AU$2.48
+6.1%
14.0%AU$2.85AU$1.75AU$1.868

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/21 21:14
End of Day Share Price 2024/12/20 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Imdex Limited is covered by 26 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Swapan PandyaAPP Securities Pty Ltd.
Russell WrightBarclay Pearce Capital Pty Limited
Josh KannourakisBarrenjoey Markets Pty Limited