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IMI

IMI LSE:IMI Stock Report

Last Price

UK£11.18

Market Cap

UK£2.9b

7D

0.2%

1Y

-34.8%

Updated

26 Sep, 2022

Data

Company Financials +
IMI fundamental analysis
Snowflake Score
Valuation6/6
Future Growth3/6
Past Performance5/6
Financial Health4/6
Dividends3/6

IMI Stock Overview

IMI plc, a specialist engineering company, designs, manufactures, and services engineered products worldwide.

IMI Competitors

Price History & Performance

Summary of all time highs, changes and price drops for IMI
Historical stock prices
Current Share PriceUK£11.18
52 Week HighUK£18.78
52 Week LowUK£10.69
Beta1.24
1 Month Change-4.12%
3 Month Change-10.27%
1 Year Change-34.85%
3 Year Change16.43%
5 Year Change-9.77%
Change since IPO334.78%

Recent News & Updates

Sep 04
IMI (LON:IMI) Could Be Struggling To Allocate Capital

IMI (LON:IMI) Could Be Struggling To Allocate Capital

If you're looking for a multi-bagger, there's a few things to keep an eye out for. One common approach is to try and...

Aug 21
Does IMI (LON:IMI) Have A Healthy Balance Sheet?

Does IMI (LON:IMI) Have A Healthy Balance Sheet?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Aug 01
IMI (LON:IMI) Is Increasing Its Dividend To £0.083

IMI (LON:IMI) Is Increasing Its Dividend To £0.083

IMI plc's ( LON:IMI ) periodic dividend will be increasing on the 16th of September to £0.083, with investors receiving...

Jul 24
Should You Investigate IMI plc (LON:IMI) At UK£12.85?

Should You Investigate IMI plc (LON:IMI) At UK£12.85?

IMI plc ( LON:IMI ), might not be a large cap stock, but it saw a double-digit share price rise of over 10% in the past...

Shareholder Returns

IMIGB MachineryGB Market
7D0.2%-0.3%-3.2%
1Y-34.8%-30.9%-14.6%

Return vs Industry: IMI underperformed the UK Machinery industry which returned -33.7% over the past year.

Return vs Market: IMI underperformed the UK Market which returned -14.4% over the past year.

Price Volatility

Is IMI's price volatile compared to industry and market?
IMI volatility
IMI Average Weekly Movement5.0%
Machinery Industry Average Movement5.0%
Market Average Movement5.2%
10% most volatile stocks in GB Market10.8%
10% least volatile stocks in GB Market2.6%

Stable Share Price: IMI is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: IMI's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
186210,000Roy Twitehttps://www.imiplc.com

IMI plc, a specialist engineering company, designs, manufactures, and services engineered products worldwide. The company operates through three divisions: IMI Precision Engineering, IMI Critical Engineering, and IMI Hydronic Engineering. The IMI Precision Engineering division develops motion and fluid control technologies for industrial automation, commercial vehicle, life sciences, energy, and rail applications.

IMI Fundamentals Summary

How do IMI's earnings and revenue compare to its market cap?
IMI fundamental statistics
Market CapUK£2.90b
Earnings (TTM)UK£206.20m
Revenue (TTM)UK£1.93b

14.0x

P/E Ratio

1.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
IMI income statement (TTM)
RevenueUK£1.93b
Cost of RevenueUK£1.04b
Gross ProfitUK£891.80m
Other ExpensesUK£685.60m
EarningsUK£206.20m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.80
Gross Margin46.18%
Net Profit Margin10.68%
Debt/Equity Ratio93.0%

How did IMI perform over the long term?

See historical performance and comparison

Dividends

2.2%

Current Dividend Yield

30%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

6/6

Valuation Score 6/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

IMI 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/Revenue1.9x
Enterprise Value/EBITDA10.4x
PEG Ratio1.3x

Price to Earnings Ratio vs Peers

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

IMI PE Ratio vs Peers
The above table shows the PE ratio for IMI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average22.2x
WEIR Weir Group
22.4x14.5%UK£3.9b
ROR Rotork
26.6x12.9%UK£2.0b
SPX Spirax-Sarco Engineering
33.4x10.0%UK£7.4b
VSVS Vesuvius
6.3x2.4%UK£881.4m
IMI IMI
14x10.8%UK£2.9b

Price-To-Earnings vs Peers: IMI is good value based on its Price-To-Earnings Ratio (14x) compared to the peer average (22.2x).


Price to Earnings Ratio vs Industry

How does IMI's PE Ratio compare vs other companies in the European Machinery Industry?

Price-To-Earnings vs Industry: IMI is good value based on its Price-To-Earnings Ratio (14x) compared to the European Machinery industry average (14.1x)


Price to Earnings Ratio vs Fair Ratio

What is IMI'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.

IMI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14x
Fair PE Ratio23.9x

Price-To-Earnings vs Fair Ratio: IMI is good value based on its Price-To-Earnings Ratio (14x) compared to the estimated Fair Price-To-Earnings Ratio (23.9x).


Share Price vs Fair Value

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

Below Fair Value: IMI (£11.18) is trading below our estimate of fair value (£18.34)

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


Analyst Price Targets

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

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is IMI forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


10.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IMI's forecast earnings growth (10.8% per year) is above the savings rate (0.9%).

Earnings vs Market: IMI's earnings (10.8% per year) are forecast to grow faster than the UK market (8.9% per year).

High Growth Earnings: IMI's earnings are forecast to grow, but not significantly.

Revenue vs Market: IMI's revenue (3% per year) is forecast to grow slower than the UK market (4.5% per year).

High Growth Revenue: IMI's revenue (3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: IMI's Return on Equity is forecast to be high in 3 years time (24.7%)


Discover growth companies

Past Performance

How has IMI performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


6.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: IMI has high quality earnings.

Growing Profit Margin: IMI's current net profit margins (10.7%) are higher than last year (9.7%).


Past Earnings Growth Analysis

Earnings Trend: IMI's earnings have grown by 6.4% per year over the past 5 years.

Accelerating Growth: IMI's earnings growth over the past year (14%) exceeds its 5-year average (6.4% per year).

Earnings vs Industry: IMI earnings growth over the past year (14%) underperformed the Machinery industry 17.5%.


Return on Equity

High ROE: IMI's Return on Equity (23.9%) is considered high.


Discover strong past performing companies

Financial Health

How is IMI's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: IMI's short term assets (£1.0B) exceed its short term liabilities (£760.9M).

Long Term Liabilities: IMI's short term assets (£1.0B) exceed its long term liabilities (£820.1M).


Debt to Equity History and Analysis

Debt Level: IMI's net debt to equity ratio (77.3%) is considered high.

Reducing Debt: IMI's debt to equity ratio has increased from 60.4% to 93% over the past 5 years.

Debt Coverage: IMI's debt is well covered by operating cash flow (32.5%).

Interest Coverage: IMI's interest payments on its debt are well covered by EBIT (23.4x coverage).


Balance Sheet


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Dividend

What is IMI current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


2.16%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: IMI's dividend (2.16%) is higher than the bottom 25% of dividend payers in the UK market (2.06%).

High Dividend: IMI's dividend (2.16%) is low compared to the top 25% of dividend payers in the UK market (5.8%).


Stability and Growth of Payments

Stable Dividend: IMI's dividend payments have been volatile in the past 10 years.

Growing Dividend: IMI's dividend payments have fallen over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (30.5%), IMI's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (33.7%), IMI's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.4yrs

Average management tenure


CEO

Roy Twite (55 yo)

3.33yrs

Tenure

UK£3,978,000

Compensation

Mr. Roy M. Twite has been the Chief Executive Officer at IMI Plc since May 9, 2019 and its Executive Director since February 1, 2007 and served as its Interim Divisional Managing Director of IMI Precision...


CEO Compensation Analysis

Roy Twite's Compensation vs IMI Earnings
How has Roy Twite's remuneration changed compared to IMI's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

UK£206m

Mar 31 2022n/an/a

UK£201m

Dec 31 2021UK£4mUK£731k

UK£196m

Sep 30 2021n/an/a

UK£189m

Jun 30 2021n/an/a

UK£181m

Mar 31 2021n/an/a

UK£176m

Dec 31 2020UK£2mUK£684k

UK£170m

Jun 30 2020n/an/a

UK£153m

Mar 31 2020n/an/a

UK£153m

Dec 31 2019UK£2mUK£636k

UK£153m

Jun 30 2019n/an/a

UK£169m

Mar 31 2019n/an/a

UK£169m

Dec 31 2018UK£1mUK£475k

UK£169m

Jun 30 2018n/an/a

UK£146m

Mar 31 2018n/an/a

UK£145m

Dec 31 2017UK£1mUK£463k

UK£145m

Jun 30 2017n/an/a

UK£152m

Mar 31 2017n/an/a

UK£141m

Dec 31 2016UK£955kUK£454k

UK£131m

Jun 30 2016n/an/a

UK£105m

Mar 31 2016n/an/a

UK£113m

Dec 31 2015UK£953kUK£445k

UK£121m

Compensation vs Market: Roy's total compensation ($USD4.30M) is above average for companies of similar size in the UK market ($USD2.71M).

Compensation vs Earnings: Roy's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: IMI's management team is considered experienced (3.4 years average tenure).


Board Members

Experienced Board: IMI's board of directors are considered experienced (5.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

LSE:IMI Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
01 Mar 22BuyUK£18,629Caroline DowlingIndividual1,300UK£14.33
11 Jan 22BuyUK£134Daniel ShookIndividual8UK£16.79

Ownership Breakdown

What is the ownership structure of IMI?
Owner TypeNumber of SharesOwnership Percentage
Public Companies00%
Private Companies00%
Individual Insiders378,8470.1%
Employee Share Scheme2,794,1481.1%
General Public17,888,3246.9%
Institutions237,888,97791.9%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 65.99% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
9.34%
Massachusetts Financial Services Company
24,191,450£270.5m-0.62%0.08%
6.33%
Sprucegrove Investment Management Ltd
16,384,714£183.2m-7.09%3.3%
6.17%
BlackRock, Inc.
15,986,928£178.7m0%no data
5.27%
Columbia Management Investment Advisers, LLC
13,639,680£152.5m-2.68%0.05%
4.13%
The Vanguard Group, Inc.
10,700,701£119.6m-3.85%no data
3%
Norges Bank Investment Management
7,772,842£86.9m-15.12%0.01%
2.8%
J.P. Morgan Asset Management, Inc.
7,258,851£81.2m3.69%0.02%
2.69%
Liontrust Asset Management PLC
6,956,772£77.8m22.74%0.38%
2.64%
Schroder Investment Management Limited
6,831,459£76.4m-7.95%0.07%
2.31%
Legal & General Investment Management Limited
5,971,367£66.8m-5.21%0.02%
2.2%
Wellington Management Group LLP
5,693,755£63.7m65.76%0.01%
2.01%
Alecta Pensionsförsäkring, ömsesidigt
5,200,000£58.1m0%0.19%
1.93%
Boston Partners Global Investors, Inc.
4,985,724£55.7m81.83%0.05%
1.83%
American Century Investment Management Inc
4,744,351£53.0m170.11%0.04%
1.5%
Jupiter Fund Management Plc
3,875,919£43.3m-46.8%0.16%
1.44%
Royal London Asset Management Limited
3,728,440£41.7m1.67%0.09%
1.41%
Allianz Asset Management AG
3,653,933£40.9m26.51%0.04%
1.35%
HSBC Global Asset Management (UK) Limited
3,484,361£39.0m90.15%0.03%
1.32%
Dimensional Fund Advisors LP
3,417,901£38.2m-17.46%0.01%
1.27%
M&G Investment Management Limited
3,294,779£36.8m-33.89%0.09%
1.15%
Invesco Ltd.
2,985,609£33.4m-10.77%0.01%
1.08%
IMI plc, ESOP
2,794,148£31.2m44.83%no data
1.03%
J O Hambro Capital Management Limited
2,655,169£29.7m42.64%0.19%
0.91%
Heronbridge Investment Management LLP
2,353,908£26.3m-8.73%2.43%
0.9%
Janus Henderson Group plc
2,327,471£26.0m-0.28%0.02%

Company Information

IMI plc's employee growth, exchange listings and data sources


Key Information

  • Name: IMI plc
  • Ticker: IMI
  • Exchange: LSE
  • Founded: 1862
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Implied Market Cap: UK£2.895b
  • Shares outstanding: 258.95m
  • Website: https://www.imiplc.com

Number of Employees


Location

  • IMI plc
  • Lakeside
  • Solihull Parkway
  • Birmingham
  • West Midlands
  • B37 7XZ
  • United Kingdom


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IMIA.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
IMILSE (London Stock Exchange)YesOrdinary SharesGBGBPJan 1992
IMI1DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
IMILBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPJan 1992
IMIA.YOTCPK (Pink Sheets LLC)SPONSORED ADR NEUSUSDJan 2011

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/26 00:00
End of Day Share Price2022/09/26 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.