Integral Diagnostics Ltd. (IDX) AI Stock Analysis

• Market Cap: AU$905.69M
• Dividend Yield: 2.65%
• Average Volume (3M): 911.20K
• Price to Earnings (P/E): 159.9
• Beta (1Y): 0.43
• Revenue Growth: 33.54%
• EPS Growth: N/A
• Country: AU
• Employees: 1,977
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Diagnostics & Research
• EPS (TTM): 0.07
• Shares Outstanding: 372,926,670
• 10 Day Avg. Volume: 1,057,226
• 30 Day Avg. Volume: 911,197
• PEG Ratio: -1.57
• Price to Book (P/B): 1.12
• Price to Sales (P/S): 1.24
• P/FCF Ratio: 55.58
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$3.11
• Price Target Upside: 29.05% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 55 Neutral
• Price Target: AU$2.50 ▲(3.73% Upside)

Integral Diagnostics Ltd. has strong revenue growth and operational efficiency, but faces significant challenges in profitability and cash flow management. The technical indicators suggest bearish momentum, and the stock appears overvalued with a high P/E ratio. These factors contribute to a cautious outlook, reflected in the overall score.

Positive Factors

Strong revenue growth

Consistent double-digit revenue expansion indicates durable demand and successful network/volume growth. Sustained top-line momentum supports scale benefits across clinics, helps fund reinvestment in equipment and staffing, and underpins long-term service expansion opportunities.

Very high gross margins

Extremely high gross margin signals the business captures most service revenue after direct costs, reflecting efficient operations and favorable reimbursement mix. This structural margin advantage provides capacity to absorb SG&A and invest in radiology talent and imaging technology over time.

Diversified payor and service model

A multi-channel revenue model (Medicare, private insurers, hospital contracts, out-of-pocket) and modality mix (MRI/CT/ultrasound/X-ray) reduces single-payor dependence and revenue volatility. This structural diversification supports steadier volumes and pricing resilience across cycles.

Negative Factors

Very low net profit margin

Despite strong revenues, net margin near zero shows limited conversion to bottom-line profit. Persistent low net profitability reduces retained earnings for reinvestment, constrains dividends or balance sheet repair, and raises sensitivity to reimbursement or cost shocks.

Sharp free cash flow decline

A near 60% drop in free cash flow signals weakening cash generation relative to earnings. Reduced FCF limits funding for capital expenditure, equipment refresh, acquisitions or debt repayment, potentially forcing external financing or delaying investments that sustain competitive position.

Low return on equity

ROE well below meaningful thresholds indicates weak returns on shareholder capital despite growth and asset base. Structurally low ROE suggests inefficiencies or heavy capital intensity that hinder shareholder value creation and may pressure management to improve capital allocation.

Integral Diagnostics Ltd. Business Overview & Revenue Model

Company Description

Integral Diagnostics Limited, a healthcare services company, provides diagnostic imaging services to general practitioners, medical specialists, and allied health professionals and their patients in Australia and New Zealand. It provides services through 67 radiology clinics. The company was incorporated in 2008 and is headquartered in Melbourne, Australia.

How the Company Makes Money

Integral Diagnostics generates revenue primarily through the provision of diagnostic imaging services to patients and healthcare professionals. The company's revenue model is based on billing for individual imaging procedures, which are often covered by public and private health insurance schemes. Key revenue streams include payments from health insurers, direct payments from patients, and government funding for specific services. Additionally, IDX benefits from strategic partnerships with hospitals and healthcare providers, which help secure a steady flow of referrals for imaging services. The company also invests in expanding its service offerings and enhancing operational efficiencies to drive profitability.

Integral Diagnostics Ltd. Financial Statement Overview

Summary

Integral Diagnostics Ltd. shows strong revenue growth and operational efficiency, as evidenced by high gross profit margins. However, the company faces challenges in converting this growth into net income, reflected in low net profit margins and return on equity. The balance sheet shows improved leverage, but cash flow concerns persist due to declining free cash flow. Overall, while the company is on a growth trajectory, it needs to focus on enhancing profitability and cash flow management to ensure sustainable financial health.

Income Statement

Integral Diagnostics Ltd. has demonstrated strong revenue growth with a 27.66% increase in the latest year, indicating a robust expansion trajectory. The gross profit margin remains high at 95.52%, showcasing operational efficiency. However, the net profit margin is low at 0.75%, suggesting challenges in translating revenue growth into net income. The EBIT and EBITDA margins are moderate, reflecting stable operational performance but room for improvement in cost management.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.84, indicating a better balance between debt and equity compared to previous years. However, the return on equity is low at 0.67%, pointing to limited profitability for shareholders. The equity ratio is stable, suggesting a solid asset base, but the company needs to enhance its profitability metrics to strengthen its financial position further.

Cash Flow

Operating cash flow remains positive, but the free cash flow has declined significantly by 58.96%, raising concerns about cash generation capabilities. The operating cash flow to net income ratio is moderate, indicating some efficiency in converting income into cash. However, the free cash flow to net income ratio is low, suggesting potential liquidity challenges if the trend continues.

Breakdown	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	627.22M	469.70M	440.10M	358.74M	348.81M
Gross Profit	599.09M	446.78M	97.76M	83.84M	92.19M
EBITDA	87.70M	12.10M	92.74M	69.90M	88.94M
Net Income	4.67M	-60.70M	25.04M	14.60M	31.27M
Balance Sheet
Total Assets	1.43B	744.28M	839.01M	783.01M	654.90M
Cash, Cash Equivalents and Short-Term Investments	52.10M	42.44M	33.85M	123.19M	62.20M
Total Debt	585.01M	355.59M	365.08M	340.99M	308.36M
Total Liabilities	732.53M	442.57M	465.96M	435.77M	400.16M
Stockholders Equity	693.00M	301.71M	373.05M	347.24M	254.74M
Cash Flow
Free Cash Flow	14.01M	42.28M	27.42M	9.33M	49.30M
Operating Cash Flow	73.77M	66.16M	71.42M	37.10M	69.57M
Investing Cash Flow	-64.99M	-27.90M	-128.96M	-55.69M	-56.66M
Financing Cash Flow	710.00K	-29.45M	-31.85M	81.13M	-7.83M

Integral Diagnostics Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.41
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:IDX, the sentiment is Negative. The current price of 2.41 is below the 20-day moving average (MA) of 2.52, below the 50-day MA of 2.51, and below the 200-day MA of 2.58, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 41.76 is Neutral, neither overbought nor oversold. The STOCH value of 45.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:IDX.

Integral Diagnostics Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SHL	70 Outperform	AU$10.50B	19.17	6.32%	4.69%	9.44%	-0.37%
MVF	67 Neutral	AU$276.64M	11.06	10.25%	6.22%	6.65%	―
ACL	59 Neutral	AU$413.27M	15.88	18.59%	4.60%	6.73%	37.16%
IDX	55 Neutral	AU$905.69M	159.87	0.94%	2.65%	33.54%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
HLS	50 Neutral	AU$551.86M	-0.98	-67.21%	―	-23.02%	33.11%
GSS	40 Underperform	AU$28.39M	-1.33	-36.16%	―	62.81%	16.37%

Integral Diagnostics Ltd. Corporate Events

Integral Diagnostics Cancels 37,488 Long-Term Incentive Performance Rights

Integral Diagnostics Ltd has notified the market of the cessation of 37,488 IDXAA long-term incentive performance rights, which were cancelled by agreement between the company and the holder effective 16 January 2026. The cancellation marginally reduces the company’s outstanding equity-based incentive securities, slightly simplifying its capital structure and potentially altering the alignment of incentives for the affected participant without indicating any broader operational or strategic shift at this stage.

The most recent analyst rating on (AU:IDX) stock is a Buy with a A$3.50 price target. To see the full list of analyst forecasts on Integral Diagnostics Ltd. stock, see the AU:IDX Stock Forecast page.

Integral Diagnostics Sets Investor Call for FY26 Half-Year Results

Integral Diagnostics has scheduled a group investor conference call for 11:00am AEDT on 24 February 2026, to be held following the release of its FY26 half-year financial results earlier that day. The planned briefing underscores the company’s engagement with investors and analysts, offering stakeholders a forum to review the latest performance metrics and operational developments in the context of the competitive medical imaging sector in Australasia.

The most recent analyst rating on (AU:IDX) stock is a Sell with a A$2.10 price target. To see the full list of analyst forecasts on Integral Diagnostics Ltd. stock, see the AU:IDX Stock Forecast page.

Integral Diagnostics Director Increases Indirect Shareholding Through On-Market Purchase

Integral Diagnostics Limited has disclosed a change in director James Tobias Hall’s relevant interest in the company’s shares, following an on-market purchase. Hall, via the JTH & FMD SMSF account in which he is a director, shareholder of the trustee and beneficiary, acquired 6,200 fully paid ordinary shares at $2.43 per share on 31 December 2025, increasing his indirect holding from 194,292 to 200,492 shares. The transaction did not involve any disposals, no related contracts were affected, and the trade did not occur during a closed period, signalling a routine portfolio adjustment rather than a governance or compliance event.

The most recent analyst rating on (AU:IDX) stock is a Sell with a A$2.10 price target. To see the full list of analyst forecasts on Integral Diagnostics Ltd. stock, see the AU:IDX Stock Forecast page.

Integral Diagnostics CEO Increases Shareholding After Vesting of Incentive Rights

Integral Diagnostics Ltd has disclosed a change in the interests of director Ian Kadish following the vesting of short-term incentive (STI) performance rights. On 22 December 2025, 34,233 STI performance rights vested into fully paid ordinary shares, increasing Kadish’s direct shareholding from 639,548 to 673,781 shares, while his STI performance rights balance decreased accordingly and his long-term incentive (LTI) performance rights holdings rose slightly due to adjustments. The transaction, undertaken for nil cash consideration, reflects the execution of the company’s incentive arrangements and further aligns the chief executive’s equity exposure with shareholder interests.

The most recent analyst rating on (AU:IDX) stock is a Sell with a A$2.10 price target. To see the full list of analyst forecasts on Integral Diagnostics Ltd. stock, see the AU:IDX Stock Forecast page.

Integral Diagnostics Issues 99,221 New Shares on Option Conversion

Integral Diagnostics Ltd has issued 99,221 new fully paid ordinary shares on 22 December 2025 following the exercise or conversion of previously unquoted options or other convertible securities. The move modestly increases the company’s share base and reflects the take-up of equity incentives by holders of these instruments, slightly diluting existing shareholders while converting unquoted rights into listed equity.

The most recent analyst rating on (AU:IDX) stock is a Sell with a A$2.10 price target. To see the full list of analyst forecasts on Integral Diagnostics Ltd. stock, see the AU:IDX Stock Forecast page.

Integral Diagnostics Updates Director’s Securities Holdings

Integral Diagnostics Ltd. has announced a change in the director’s interest notice for Ian Kadish, reflecting updates in the company’s securities holdings. The notice details the acquisition of 120,928 Short-Term Incentive (STI) Rights and 114,668 Long-Term Incentive (LTI) Rights, with no disposals reported. This change signifies an adjustment in the director’s performance rights, which may impact the company’s governance and incentive structures.

The most recent analyst rating on (AU:IDX) stock is a Buy with a A$3.20 price target. To see the full list of analyst forecasts on Integral Diagnostics Ltd. stock, see the AU:IDX Stock Forecast page.

Integral Diagnostics Issues New Performance Rights Under Employee Incentive Scheme

Integral Diagnostics Ltd. has announced the issuance of 71,911 performance rights under an employee incentive scheme. These securities are unquoted and subject to transfer restrictions, reflecting the company’s commitment to incentivizing its workforce and aligning employee interests with corporate performance.

The most recent analyst rating on (AU:IDX) stock is a Buy with a A$3.20 price target. To see the full list of analyst forecasts on Integral Diagnostics Ltd. stock, see the AU:IDX Stock Forecast page.

Integral Diagnostics Issues Performance Rights Under Employee Incentive Scheme

Integral Diagnostics Ltd. has announced the issuance of 114,688 performance rights under an employee incentive scheme. These securities are unquoted and subject to transfer restrictions, reflecting the company’s strategy to incentivize and retain key personnel, potentially impacting its operational efficiency and stakeholder engagement.

The most recent analyst rating on (AU:IDX) stock is a Buy with a A$3.20 price target. To see the full list of analyst forecasts on Integral Diagnostics Ltd. stock, see the AU:IDX Stock Forecast page.

Integral Diagnostics Issues New Performance Rights

Integral Diagnostics Ltd. announced the issuance of 3,148 performance rights under an employee incentive scheme. These securities are unquoted and subject to transfer restrictions, reflecting the company’s efforts to incentivize and retain talent, potentially impacting its operational effectiveness and stakeholder engagement.

The most recent analyst rating on (AU:IDX) stock is a Buy with a A$3.20 price target. To see the full list of analyst forecasts on Integral Diagnostics Ltd. stock, see the AU:IDX Stock Forecast page.

Integral Diagnostics Issues Performance Rights to Boost Talent Retention

Integral Diagnostics Ltd. has announced the issuance of 296,527 performance rights under an employee incentive scheme, which are unquoted and subject to transfer restrictions. This move is part of the company’s strategy to incentivize and retain talent, potentially enhancing its operational capabilities and market position in the diagnostic imaging sector.

The most recent analyst rating on (AU:IDX) stock is a Buy with a A$3.20 price target. To see the full list of analyst forecasts on Integral Diagnostics Ltd. stock, see the AU:IDX Stock Forecast page.