Discounted Cash Flow

Imax Corp.

IMAX · Based on 10 years of SEC filings · Converted from CNY to USD

⚠ Cash flow predictability 48/100 (moderate) — FCF YoY std dev 65%, net income 75% (full history)

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income
Dividends

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $56.3m $4.3m $9.3m 7.6% $0.43
2017 $56.8m (0.9%) $349.5k (-91.9%) $9.1m (-2.2%) 0.6% (-91.9%) $0.04 (-90.7%)
2018 $55.8m (-1.7%) $3.4m (874.6%) $14.4m (57.8%) 6.1% (891.1%) $0.36 (800.0%)
2019 $59.0m (5.7%) $7.0m (105.2%) $12.4m (-14.1%) 11.8% (94.1%) $0.76 (111.1%)
2020 $20.4m (-65.4%) $-21.4m (-406.8%) $-3.5m (-128.6%) -104.9% (-986.0%) $-2.43 (-419.7%)
2021 $38.0m (86.0%) $-3.3m (84.5%) $369.0k (110.4%) -8.8% (91.7%) $-0.38 (84.4%)
2022 $44.9m (18.0%) $-3.4m (-2.1%) $1.3m (259.5%) -7.6% (13.5%) $-0.40 (-5.3%)
2023 $55.9m (24.6%) $3.8m (211.1%) $7.8m (485.9%) 6.8% (189.2%) $0.47 (217.5%)
2024 $52.5m (-6.0%) $3.9m (2.9%) $9.3m (19.7%) 7.4% (9.5%) $0.49 (4.3%)
2025 $61.2m (16.5%) $5.2m (33.8%) $17.7m (90.5%) 8.5% (14.9%) $0.65 (32.7%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in CNY. Values above are converted to USD for comparison with the US-listed share price.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model