Imdex Limited

ASX:IMD Stock Report

Market Cap: AU$1.4b

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$2.63) is trading below our estimate of fair value (A$3.45)

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 Ratio41.5x
EarningsAU$32.40m
Market CapAU$1.36b

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 Average19.2x
PRN Perenti
12x23.3%AU$1.1b
BLY Boart Longyear Group
42.4xn/aAU$861.1m
MAH Macmahon Holdings
13.7x11.1%AU$728.5m
ILU Iluka Resources
8.6x5.5%AU$2.3b
IMD Imdex
41.5x19.6%AU$1.3b

Price-To-Earnings vs Peers: IMD is expensive based on its Price-To-Earnings Ratio (41.5x) compared to the peer average (19.2x).

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$224.57m
GRR Grange Resources
2.6xn/aUS$180.60m
RHI Red Hill Minerals
1.8xn/aUS$178.04m
PTN Patronus Resources
2.3xn/aUS$66.01m
IMD 41.5xIndustry Avg. 11.9xNo. of Companies13PE01224364860+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IMD is expensive based on its Price-To-Earnings Ratio (41.5x) compared to the Australian Metals and Mining industry average (11.9x).

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 Ratio41.5x
Fair PE Ratio19.1x

Price-To-Earnings vs Fair Ratio: IMD is expensive based on its Price-To-Earnings Ratio (41.5x) compared to the estimated Fair Price-To-Earnings Ratio (19.1x).

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$2.63
AU$2.32
-11.6%
7.9%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$1.60n/a9
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
Nov ’23AU$2.13
AU$2.44
+14.4%
14.3%AU$2.85AU$1.75AU$1.637

Analyst Forecast: Target price is lower than the current share price.

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