Imdex Ltd (IMD) AI Stock Analysis

• Market Cap: $1.44B
• Dividend Yield: 1.07%
• Average Volume (3M): 985.10K
• Price to Earnings (P/E): 30.9
• Beta (1Y): 1.00
• Revenue Growth: -5.80%
• EPS Growth: 58.54%
• Country: AU
• Employees: 816
• Sector: Industrials
• Sector Strength: 88
• Industry: Industrial - Machinery
• EPS (TTM): 0.06
• Shares Outstanding: 511,841,830
• 10 Day Avg. Volume: 984,243
• 30 Day Avg. Volume: 985,100
• PEG Ratio: -0.86
• Price to Book (P/B): 1.50
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 15.04
• 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: $2.91
• Price Target Upside: 5.47% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 6

• Rating: 68 Neutral
• Price Target: AU$3.00 ▲(8.70%Upside)

Imdex Ltd's overall stock score reflects its strong financial performance and stable cash flow management. However, the stock's high P/E ratio and neutral technical indicators suggest limited immediate upside, warranting a cautious investment approach.

Imdex Ltd Business Overview & Revenue Model

Company Description

Imdex Limited, together with its subsidiaries, provides drilling optimization products and sensors for the minerals industry in the Asia-Pacific, Africa, Europe, and the Americas. The company sells and rents drilling optimization products, including drilling fluids, solids removal units, remote fluid testing technologies, rig alignment technologies, and drilling productivity technologies; and rents rock knowledge sensors, which include downhole survey, core orientation, gamma logging, and structural orientation sensors. It also provides real-time data and analytics solutions, such as a cloud-based data collection and validation platform; an advanced reporting software; a geoscience analytics software; an interpretive mineralogy software; and a 3D visualisation software. In addition, the company offers software, mining technology, drilling optimization, downhole navigation, structural geology, in-field geoanalysis, and driller operable geophysics solutions. It provides its products and services under the AMC and REFLEX brands to drilling contractors and resource companies. The company was formerly known as Pilbara Gold NL and changed its name to Imdex Limited in July 1985. Imdex Limited was incorporated in 1980 and is headquartered in Balcatta, Australia.

How the Company Makes Money

Imdex Ltd generates revenue primarily through the sale and rental of its specialized drilling fluids and downhole instrumentation. The company provides both consumable products and technology solutions that are critical to efficient drilling operations. Key revenue streams include the sale of drilling fluids, which help to stabilize boreholes and cool drill bits, and the rental of sophisticated downhole tools that deliver real-time data and insights to optimize drilling performance. Additionally, Imdex benefits from strategic partnerships and collaborations with mining and energy companies, which enhance its market reach and customer base. The company's focus on innovation and technology-driven solutions positions it to capitalize on the growing demand for efficient and sustainable drilling practices.

Imdex Ltd Financial Statement Overview

Summary

Imdex Ltd shows strong financial performance with consistent revenue growth and operational efficiency. The balance sheet is healthy with low leverage, and cash flows are effectively managed, supporting growth initiatives. However, there is room for improvement in profitability metrics.

Income Statement

Imdex Ltd has demonstrated consistent revenue growth with a 8.24% increase in the latest year. The gross profit margin is stable at 31.37%, and the net profit margin is at 7.27%. Both EBIT margin (15.81%) and EBITDA margin (25.39%) indicate strong operating efficiency. However, the slight decrease in net income compared to the previous year shows a need for improved cost management.

Balance Sheet

The company maintains a healthy balance sheet with a low debt-to-equity ratio of 0.22, reflecting prudent leverage. The return on equity (ROE) is 5.67%, which is moderate, suggesting potential for improved profitability. An equity ratio of 72.66% signifies strong capital structure stability. Overall, the balance sheet reflects financial solidity with room for enhancing returns.

Cash Flow

Operating cash flow has been robust, with a 30.9% increase to $108.05 million, supporting business operations effectively. Free cash flow to net income ratio is 2.3, indicating efficient cash generation relative to profit. The free cash flow growth rate of 34.66% highlights strong cash management. However, attention is needed on sustaining this growth amidst potential market fluctuations.

Breakdown
TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement		Total Revenue
421.96M	445.28M	411.40M	341.84M	264.38M	237.69M
	Gross Profit
218.68M	317.52M	136.89M	117.11M	84.53M	67.18M
	EBIT
125.92M	70.42M	61.37M	68.60M	44.34M	27.96M
	EBITDA
123.23M	113.06M	103.18M	102.85M	78.56M	58.26M
	Net Income Common Stockholders
46.58M	32.40M	34.99M	44.71M	31.67M	21.76M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
54.46M	47.13M	58.13M	36.37M	58.48M	38.26M
	Total Assets
808.25M	786.14M	806.14M	393.61M	366.11M	318.12M
	Total Debt
113.27M	127.65M	161.35M	46.82M	50.00M	47.63M
	Net Debt
58.80M	80.52M	103.22M	10.45M	-8.48M	9.37M
	Total Liabilities
201.00M	214.87M	249.94M	96.38M	113.06M	96.49M
	Stockholders Equity
607.25M	571.28M	556.21M	297.23M	253.05M	221.63M
Cash Flow		Free Cash Flow
83.73M	74.54M	55.35M	18.05M	29.90M	29.39M
	Operating Cash Flow
118.76M	108.05M	82.51M	55.72M	57.04M	52.56M
	Investing Cash Flow
-51.20M	-35.90M	-346.13M	-53.04M	-28.14M	-19.35M
	Financing Cash Flow
-64.97M	-79.39M	285.86M	-24.72M	-8.40M	-23.73M

Imdex Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.76
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:IMD, the sentiment is Negative. The current price of 2.76 is below the 20-day moving average (MA) of 2.81, below the 50-day MA of 2.80, and above the 200-day MA of 2.60, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 44.73 is Neutral, neither overbought nor oversold. The STOCH value of 18.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:IMD.

Imdex Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IMD	68 Neutral	$1.44B	30.88	8.17%	1.07%	-5.80%	58.54%
Sector *	66 Neutral	$4.51B	12.29	5.40%	3.67%	4.15%	-12.21%
LYOPF		$273.83M	9.30	36.14%	1.11%	―	―
3NR		€724.45M	10.59	18.01%	5.98%	―	―
SRG	68 Neutral	AU$918.02M	21.84	11.36%	3.29%	25.40%	41.18%
SST		AU$455.51M	25.28	4.28%	1.42%	―	―
GNG	80 Outperform	AU$507.08M	13.03	58.99%	6.60%	25.12%	31.13%

Imdex Ltd Corporate Events

IMDEX Resolves Tax Dispute with ATO, Secures Financial Benefits

IMDEX has resolved a long-standing tax dispute with the Australian Taxation Office regarding the tax treatment of warrants issued in 2015 and exercised in 2017. Following mediation and a related court decision, the ATO has chosen not to defend the case further, resulting in Federal Court orders in favor of IMDEX. This resolution allows IMDEX to submit revised tax returns, leading to additional cash refunds and future tax credits, with a $6.7 million credit to be recognized in the FY25 financial year.

The most recent analyst rating on (AU:IMD) stock is a Buy with a A$2.25 price target. To see the full list of analyst forecasts on Imdex Ltd stock, see the AU:IMD Stock Forecast page.

State Street Corporation Acquires Substantial Interest in Imdex Ltd

Imdex Ltd has announced a significant change in its shareholder structure, with State Street Corporation and its subsidiaries, including State Street Bank and Trust Company, now holding a substantial interest in the company. This development reflects a strategic move by State Street to increase its influence and control over Imdex’s voting power, potentially impacting the company’s governance and decision-making processes.

The most recent analyst rating on (AU:IMD) stock is a Buy with a A$2.25 price target. To see the full list of analyst forecasts on Imdex Ltd stock, see the AU:IMD Stock Forecast page.

State Street Corporation Ceases Substantial Holding in Imdex Ltd

Imdex Ltd has announced that State Street Corporation and its subsidiaries have ceased to be substantial holders in the company as of May 22, 2025. This change in substantial holding could impact the company’s shareholder structure and influence its market dynamics, potentially affecting investor sentiment and the company’s strategic decisions moving forward.

The most recent analyst rating on (AU:IMD) stock is a Buy with a A$2.25 price target. To see the full list of analyst forecasts on Imdex Ltd stock, see the AU:IMD Stock Forecast page.

State Street Bank Becomes Substantial Holder in Imdex Ltd

Imdex Ltd has announced a new substantial holder in its company, with State Street Bank and Trust Company and its associates acquiring a significant voting power in the firm. This development indicates a shift in the ownership structure of Imdex Ltd, potentially impacting its governance and strategic decisions, while highlighting the interest of major financial institutions in the company’s operations.

The most recent analyst rating on (AU:IMD) stock is a Buy with a A$2.25 price target. To see the full list of analyst forecasts on Imdex Ltd stock, see the AU:IMD Stock Forecast page.

Change in Substantial Holding for Imdex Ltd

Imdex Ltd has announced a change in its substantial holding, with State Street Corporation and its subsidiaries ceasing to be substantial holders as of May 9, 2025. This change may impact the company’s shareholder structure and influence voting dynamics, potentially affecting future corporate decisions and stakeholder interests.

The most recent analyst rating on (AU:IMD) stock is a Buy with a A$2.25 price target. To see the full list of analyst forecasts on Imdex Ltd stock, see the AU:IMD Stock Forecast page.

Imdex Ltd Sees Shift in Substantial Holdings with State Street Corporation

Imdex Ltd has announced a significant change in its substantial holdings, with State Street Corporation and its subsidiaries now holding a considerable voting power in the company. This development could potentially impact Imdex Ltd’s strategic decisions and influence its market positioning, as State Street Corporation is a major player in the financial sector with extensive investment management capabilities.

Imdex Ltd Announces Substantial Holder Notice

Imdex Ltd has announced a notice of a substantial holder, indicating a significant change in the voting power within the company. This development involves various entities such as State Street Bank and Trust Company and its subsidiaries, which now hold a considerable number of voting shares. The announcement highlights the intricate network of associations and relevant interests, potentially impacting the company’s governance and strategic decisions.

State Street Corporation Reduces Stake in Imdex Limited

State Street Corporation, through its subsidiaries, has ceased to be a substantial holder in Imdex Limited as of April 16, 2025. This change in holding may impact the company’s voting securities and influence within the company, potentially affecting its strategic decisions and stakeholder interests.

Imdex Limited Updates Director’s Interest Notice

Imdex Limited announced an amendment to the Appendix 3Y notice regarding a change in the CEO and Managing Director Paul House’s interest in the company’s securities. The correction pertains to the previously reported price per share, which has been updated to $2.55. This update ensures accurate reporting of director interests, reflecting transparency and compliance with ASX listing rules.

State Street Corporation Becomes Substantial Holder in Imdex Ltd

Imdex Ltd has announced a significant change in its shareholder structure, with State Street Corporation and its subsidiaries becoming substantial holders. This development indicates a strategic investment by State Street, which could influence Imdex’s market positioning and operational strategies, potentially impacting stakeholders and the company’s future growth trajectory.

Imdex Ltd Announces Change in Substantial Holding Status

Imdex Ltd has announced a change in its substantial holding status, indicating that a significant holder has ceased to be a substantial holder as of March 31, 2025. This change reflects a shift in the voting securities of the company, potentially impacting its market dynamics and stakeholder interests.

Australian Retirement Trust Acquires Substantial Stake in Imdex Ltd

Australian Retirement Trust Pty Ltd has become a substantial holder in Imdex Ltd, a company involved in the mining and exploration industry, by acquiring a 5.186% voting power through fully paid ordinary shares. This acquisition indicates a significant investment by the Australian Retirement Trust, potentially impacting Imdex’s shareholder structure and signaling confidence in the company’s future prospects.