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Imdex Ltd (AU:IMD)
:IMD
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Imdex Ltd (IMD) AI Stock Analysis

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AU:IMD

Imdex Ltd

(OTC:IMD)

Rating:75Outperform
Price Target:
AU$3.50
â–²(14.01%Upside)
Imdex Ltd demonstrates strong financial fundamentals and technical support, though valuation concerns due to a high P/E ratio may limit upside potential. The solid financial performance, characterized by revenue growth and operational efficiency, is the most significant factor supporting the stock score.

Imdex Ltd (IMD) vs. iShares MSCI Australia ETF (EWA)

Imdex Ltd Business Overview & Revenue Model

Company DescriptionImdex 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 MoneyImdex Ltd makes money through the sale and rental of its proprietary drilling technologies and solutions. The company's revenue streams are primarily derived from the provision of drilling fluids and downhole instrumentation, which are essential for efficient drilling operations. In addition to product sales and rentals, Imdex generates income from its suite of software solutions that offer data analytics and management services, enhancing operational decision-making for clients. The company also benefits from strategic partnerships with major mining firms and service providers, which help expand its market reach and customer base, contributing significantly to its earnings.

Imdex Ltd Financial Statement Overview

Summary
Imdex Ltd demonstrates strong financial performance with consistent revenue growth and operational efficiency. The balance sheet is robust, showing low leverage and effective cash flow management. However, there is room for improvement in profitability metrics.
Income Statement
85
Very Positive
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
80
Positive
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
78
Positive
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.
BreakdownJun 2024Jun 2023Jun 2022Jun 2021Jun 2020
Income Statement
Total Revenue445.28M411.40M341.84M264.38M237.69M
Gross Profit139.67M136.89M234.54M180.84M160.12M
EBITDA113.06M99.83M100.40M76.69M56.64M
Net Income32.40M34.99M44.71M31.67M21.76M
Balance Sheet
Total Assets786.14M806.14M393.61M366.11M318.12M
Cash, Cash Equivalents and Short-Term Investments47.13M58.13M36.37M58.48M38.26M
Total Debt127.65M161.35M46.82M50.00M47.63M
Total Liabilities214.87M249.94M96.38M113.06M96.49M
Stockholders Equity571.28M556.21M297.23M253.05M221.63M
Cash Flow
Free Cash Flow74.54M55.35M18.05M29.90M29.39M
Operating Cash Flow108.05M82.51M55.72M57.04M52.56M
Investing Cash Flow-35.90M-346.13M-53.04M-28.14M-19.35M
Financing Cash Flow-79.39M285.86M-24.72M-8.40M-23.73M

Imdex Ltd Technical Analysis

Technical Analysis Sentiment
Positive
Last Price3.07
Price Trends
50DMA
2.78
Positive
100DMA
2.81
Positive
200DMA
2.70
Positive
Market Momentum
MACD
0.08
Negative
RSI
67.27
Neutral
STOCH
94.58
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:IMD, the sentiment is Positive. The current price of 3.07 is above the 20-day moving average (MA) of 2.80, above the 50-day MA of 2.78, and above the 200-day MA of 2.70, indicating a bullish trend. The MACD of 0.08 indicates Negative momentum. The RSI at 67.27 is Neutral, neither overbought nor oversold. The STOCH value of 94.58 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:IMD.

Imdex Ltd Peers Comparison

Overall Rating
UnderperformOutperform
Sector (58)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
75
Outperform
AU$1.57B33.748.17%0.96%-5.80%58.54%
58
Neutral
HK$13.96B4.77-2.71%5.86%3.74%-52.98%
―$289.52M9.3036.14%3.50%――
―€835.29M11.5018.01%5.28%――
69
Neutral
AU$1.01B23.9211.36%3.01%25.40%41.18%
―AU$464.19M25.764.28%1.56%――
76
Outperform
AU$659.37M16.9558.99%5.08%25.12%31.13%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:IMD
Imdex Ltd
3.07
0.79
34.41%
LYOPF
Lycopodium Limited
7.24
-1.17
-13.91%
DE:3NR
NRW Holdings Limited
1.76
-0.09
-4.86%
AU:SRG
SRG Global Limited
1.66
0.80
93.02%
AU:SST
Steamships Trading Co. Ltd.
14.00
-0.47
-3.25%
AU:GNG
GR Engineering Services Ltd
3.94
2.13
117.68%

Imdex Ltd Corporate Events

IMDEX Acquires Earth Science Analytics to Boost Digital Growth
Jul 27, 2025

IMDEX Limited has acquired Earth Science Analytics (ESA), a Norwegian company known for its AI-driven geoscience platform EarthNET, to expand its digital capabilities. This acquisition is expected to enhance IMDEX’s AI-enabled geoscience solutions, accelerate its digital strategy, and strengthen its market position in the energy and mining sectors by integrating ESA’s advanced technology with IMDEX’s existing offerings.

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
Jul 25, 2025

Imdex Ltd has announced that State Street Corporation and its subsidiaries have ceased to be substantial holders in the company as of July 23, 2025. This change in substantial holding may impact the company’s shareholder structure and influence its market positioning, potentially affecting the interests of stakeholders involved.

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.

Morgan Stanley Ceases Substantial Holding in Imdex Ltd
Jul 24, 2025

Imdex Ltd has announced that Morgan Stanley and its subsidiaries have ceased to be substantial holders in the company as of July 21, 2025. This change in holdings, involving both purchases and sales of ordinary shares by Morgan Stanley Australia Securities Limited, may impact the company’s shareholder structure and influence its market position.

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.

Morgan Stanley Acquires Substantial Stake in Imdex Ltd
Jul 23, 2025

Morgan Stanley and its subsidiaries have become substantial holders in Imdex Ltd, acquiring a 5.02% voting power with 25,682,080 ordinary shares. This acquisition highlights Morgan Stanley’s strategic interest in Imdex, potentially influencing the company’s market dynamics 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 to Announce FY25 Financial Results via Webcast
Jul 22, 2025

IMDEX Limited, a prominent player in the mining technology sector, is set to release its financial results for the fiscal year 2025 on August 25, 2025. The announcement will be made via a webcast led by CEO Paul House and CFO Linda Lim, who will discuss the company’s performance, growth strategy, and future outlook. This presentation provides stakeholders with insights into IMDEX’s operational achievements and strategic direction, potentially impacting its market positioning 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.

Mitsubishi UFJ Financial Group Gains Substantial Holding in Imdex Ltd
Jul 17, 2025

Mitsubishi UFJ Financial Group, Inc. has become a substantial holder in Imdex Ltd, acquiring a significant voting power through its interests in Morgan Stanley and First Sentier Group Limited. This development indicates a strategic positioning by Mitsubishi UFJ Financial Group, Inc. to influence Imdex Ltd’s operations, potentially impacting the company’s future 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.

Mitsubishi UFJ Financial Group Gains Substantial Holding in Imdex Ltd
Jul 16, 2025

Imdex Ltd has announced that Mitsubishi UFJ Financial Group, Inc. (MUFG) indirectly owns 100% of First Sentier Group Limited, which has a substantial holding in Imdex Ltd. This development indicates a significant level of control and influence by MUFG over Imdex Ltd’s voting shares, potentially impacting the company’s governance and strategic decisions. The announcement highlights the relevant interest and voting power MUFG holds through its subsidiaries, which could have implications for stakeholders regarding the company’s future direction and market positioning.

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.

Mitsubishi UFJ Financial Group Ceases Substantial Holding in Imdex Limited
Jul 14, 2025

Mitsubishi UFJ Financial Group, Inc. has ceased to be a substantial holder in Imdex Limited, as detailed in a recent notice. The change in substantial holding was due to the purchase of securities by an entity controlled by Morgan Stanley, impacting the voting rights and share distribution within the company.

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 Announces Change in Substantial Holders
Jul 11, 2025

Imdex Ltd has announced a change in its substantial holders, as Mitsubishi UFJ Financial Group and its associates, including First Sentier Investors, have ceased to be substantial holders in the company as of July 9, 2025. This change in substantial holding may impact the company’s shareholder dynamics and influence its market positioning, as it indicates a shift in the investment strategies of key stakeholders.

The most recent analyst rating on (AU:IMD) stock is a Buy with a A$3.04 price target. To see the full list of analyst forecasts on Imdex Ltd stock, see the AU:IMD Stock Forecast page.

Australian Retirement Trust Becomes Substantial Holder in Imdex Ltd
Jul 10, 2025

Imdex Ltd has announced that Australian Retirement Trust Pty Ltd, acting as trustee for the Australian Retirement Trust, has become a substantial holder in the company as of July 8, 2025. The trust now holds 25,600,011 fully paid ordinary shares, representing a 5.002% voting power in Imdex Ltd. This development indicates a significant investment by the Australian Retirement Trust, potentially impacting Imdex Ltd’s shareholder structure and market perception.

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 Change in Substantial Shareholding
Jul 8, 2025

Imdex Ltd has announced a change in the substantial holding of its voting shares, with Mitsubishi UFJ Financial Group, Inc. now holding a significant interest. This change reflects an increase in Mitsubishi UFJ Financial Group’s voting power from 5.40% to 6.41%, indicating a strategic move that could impact Imdex Ltd’s shareholder dynamics and influence future corporate decisions.

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 Announces Change in Substantial Shareholding
Jul 7, 2025

Imdex Ltd has announced a change in the substantial holding of its shares, with First Sentier Investors and its related entities, including Mitsubishi UFJ Financial Group, now holding significant voting power. This change in shareholding reflects a shift in control over voting rights, potentially impacting the company’s governance and strategic decisions.

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.

Mitsubishi UFJ Financial Group Acquires Substantial Stake in Imdex Limited
Jul 4, 2025

Mitsubishi UFJ Financial Group, Inc. has become a substantial holder in Imdex Limited, acquiring a significant voting power of 5.40% through various fully paid ordinary shares. This development indicates a strategic move by Mitsubishi UFJ Financial Group to strengthen its influence and stake in Imdex, potentially impacting the company’s market dynamics 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 Limited Announces Change in Substantial Holding
Jul 3, 2025

Imdex Limited has announced that Australian Retirement Trust Pty Ltd has ceased to be a substantial holder of its voting securities as of July 2, 2025. This change in substantial holding may impact Imdex’s shareholder structure and could influence the company’s market dynamics and investor relations.

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 Gains Substantial Holding in First Sentier Investors
Jul 3, 2025

Imdex Ltd has become a substantial holder of shares in First Sentier Investors Holdings Pty Limited, a company indirectly owned by Mitsubishi UFJ Financial Group (MUFG). This development indicates a significant shift in shareholding, with Imdex Ltd holding a relevant interest in 27,618,893 fully paid ordinary shares. The announcement highlights the strategic positioning of Imdex Ltd in the investment landscape, potentially impacting its market influence and stakeholder relationships.

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.

Australian Retirement Trust Becomes Substantial Holder in Imdex Ltd
Jul 3, 2025

Imdex Ltd has announced that Australian Retirement Trust Pty Ltd, acting as trustee for the Australian Retirement Trust, has become a substantial holder in the company as of July 1, 2025. The trust now holds a 5.033% voting power in Imdex Ltd through its acquisition of 25,759,052 fully paid ordinary shares. This development signifies a notable increase in institutional investment in Imdex Ltd, potentially impacting the company’s strategic direction and shareholder dynamics.

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 Becomes Substantial Holder in Imdex Ltd
Jun 26, 2025

Imdex Ltd has announced a significant change in its shareholder structure, with State Street Corporation and its subsidiaries becoming substantial holders with a 5.14% voting power in the company. This development indicates a notable shift in the company’s ownership, potentially impacting its strategic direction 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 Announces Change in Substantial Shareholder Status
Jun 25, 2025

Imdex Ltd has announced that Australian Retirement Trust Pty Ltd has ceased to be a substantial holder in the company as of June 23, 2025. This change in substantial holding may impact Imdex’s shareholder structure and could influence market perceptions regarding the company’s stability and future investment prospects.

The most recent analyst rating on (AU:IMD) stock is a Buy with a A$3.04 price target. To see the full list of analyst forecasts on Imdex Ltd stock, see the AU:IMD Stock Forecast page.

Imdex Limited Transitions to New Share Registry Provider
Jun 20, 2025

Imdex Limited has announced a change in its shareholder registry service provider from Computershare Investor Services to Automic Pty Ltd, effective from June 23, 2025. This transition aims to enhance shareholder management through Automic’s secure online investor portal, which facilitates easy management of holdings, updating details, and viewing transaction history. This move is expected to streamline operations and improve shareholder engagement.

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 Resolves Tax Dispute with ATO, Secures Financial Benefits
Jun 2, 2025

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
May 28, 2025

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
May 26, 2025

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
May 23, 2025

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
May 13, 2025

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.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 23, 2025