Imdex Ltd (IMD) AI Stock Analysis

• Market Cap: $1.69B
• Dividend Yield: 0.84%
• Average Volume (3M): 1.66M
• Price to Earnings (P/E): 29.7
• Beta (1Y): 0.99
• Revenue Growth: -3.12%
• EPS Growth: 69.50%
• Country: AU
• Employees: 816
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 0.04
• Shares Outstanding: 511,841,830
• 10 Day Avg. Volume: 1,579,817
• 30 Day Avg. Volume: 1,662,135
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.90
• Enterprise Value/Revenue: 3.54
• Enterprise Value/Gross Profit: 7.11
• Enterprise Value/Ebitda: 12.44
• 1Y Price Target: $3.36
• Price Target Upside: 0.75% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 8

• Rating: 67 Neutral
• Price Target: AU$3.00 ▼(-10.18% Downside)

Imdex Ltd demonstrates strong financial performance with robust profitability and a healthy balance sheet. However, technical indicators suggest weak momentum, and the valuation appears high, which could limit upside potential. The lack of earnings call data and corporate events further limits insights into future prospects.

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 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 exhibits strong profitability with improved net profit margins and a robust balance sheet with low leverage. However, the slowdown in revenue growth and negative free cash flow growth require attention.

Income Statement

Imdex Ltd has shown consistent revenue growth over the years, with a notable increase in gross profit margins, reaching 72.4% in 2025. The net profit margin improved to 12.8% in 2025, indicating enhanced profitability. However, the revenue growth rate has slowed down to 2.2% in 2025 from previous years, which could be a concern if the trend continues. Overall, the company demonstrates strong profitability and stable growth.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.16 in 2025, reflecting a solid capital structure with low leverage. Return on equity has increased to 8.8%, showing efficient use of equity to generate profits. The equity ratio remains strong, indicating a stable financial position. Overall, Imdex Ltd maintains a healthy balance sheet with low financial risk.

Cash Flow

Operating cash flow has increased, with a strong coverage ratio of 1.46 in 2025, indicating good cash generation relative to net income. However, free cash flow growth has been negative at -21.05% in 2025, which could impact future investments. The free cash flow to net income ratio remains healthy at 0.54, suggesting adequate cash flow generation. Overall, cash flow management is stable but requires attention to reverse the decline in free cash flow growth.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	431.39M	431.39M	445.28M	411.40M	341.84M	264.38M
Gross Profit	214.96M	312.44M	139.67M	136.89M	234.54M	180.84M
EBITDA	122.89M	129.19M	113.06M	99.83M	100.40M	76.69M
Net Income	55.19M	55.19M	32.40M	34.99M	44.71M	31.67M
Balance Sheet
Total Assets	830.15M	830.15M	786.14M	806.14M	393.61M	366.11M
Cash, Cash Equivalents and Short-Term Investments	42.51M	42.51M	47.13M	58.13M	36.37M	58.48M
Total Debt	100.31M	100.31M	127.65M	161.35M	46.82M	50.00M
Total Liabilities	200.79M	200.79M	214.87M	249.94M	96.38M	113.06M
Stockholders Equity	629.36M	629.36M	571.28M	556.21M	297.23M	253.05M
Cash Flow
Free Cash Flow	76.47M	66.11M	74.54M	55.35M	18.05M	29.90M
Operating Cash Flow	123.50M	123.50M	108.05M	82.51M	55.72M	57.04M
Investing Cash Flow	-64.00M	-64.00M	-35.90M	-346.13M	-53.04M	-28.14M
Financing Cash Flow	-64.70M	-64.70M	-79.39M	285.86M	-24.72M	-8.40M

Imdex Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.34
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: 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 3.34 is above the 20-day moving average (MA) of 3.18, above the 50-day MA of 3.01, and above the 200-day MA of 2.78, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 56.35 is Neutral, neither overbought nor oversold. The STOCH value of 95.12 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IMD	67 Neutral	$1.69B	29.68	9.03%	0.84%	-3.12%	69.50%
Sector *	63 Neutral	$10.84B	15.52	7.44%	2.00%	2.86%	-14.57%
LYOPF	―	$312.37M	10.52	29.67%	3.36%	―	―
3NR	―	€1.16B	69.25	4.71%	―	―	―
SRG	73 Outperform	AU$1.20B	24.75	13.62%	2.53%	23.76%	21.18%
SST	―	AU$433.81M	24.71	4.36%	1.67%	―	―
GNG	70 Outperform	AU$658.01M	19.45	50.61%	5.60%	12.96%	8.19%

Imdex Ltd Corporate Events

Imdex Limited Announces Change in Director’s Interest

Imdex Limited has announced a change in the director’s interest, with CEO and Managing Director Paul House receiving 252,477 ordinary shares as part of the company’s Employee Rights Plan. This issuance is part of the long-term incentive scheme, indicating a strategic move to align executive interests with company performance, potentially impacting stakeholder confidence and executive motivation.

The most recent analyst rating on (AU:IMD) stock is a Hold with a A$3.45 price target. To see the full list of analyst forecasts on Imdex Ltd stock, see the AU:IMD Stock Forecast page.

Imdex Ltd Issues Over 2 Million New Securities

Imdex Ltd announced the issuance of 2,033,503 ordinary fully paid securities as of September 1, 2025. This move is part of the company’s strategy to manage its equity securities, potentially impacting its market position and offering implications for stakeholders regarding its operational and financial strategies.

The most recent analyst rating on (AU:IMD) stock is a Hold with a A$3.45 price target. To see the full list of analyst forecasts on Imdex Ltd stock, see the AU:IMD Stock Forecast page.

Imdex Ltd Completes Major Acquisition to Boost Digital Growth

Imdex Ltd has successfully completed the acquisition of 80.5% of Earth Science Analytics AS, a move aimed at accelerating its digital growth. This strategic acquisition is expected to enhance Imdex’s capabilities in the mining technology sector, potentially strengthening its market position and offering significant benefits to its stakeholders.

The most recent analyst rating on (AU:IMD) stock is a Hold with a A$3.45 price target. To see the full list of analyst forecasts on Imdex Ltd stock, see the AU:IMD Stock Forecast page.

IMDEX Ltd Demonstrates Resilience in FY25 Financial Results

IMDEX Ltd reported its FY25 financial results, highlighting a revenue of $431 million, with a 19% increase in Q4 compared to Q3, despite challenges like rising costs and geopolitical uncertainty. The company maintained a strong normalised EBITDA margin above 29% and achieved a significant reduction in net debt by 63%, closing the year with a net debt balance of $13 million. These results underscore IMDEX’s operational resilience and financial discipline, allowing for continued growth and strategic acquisitions.

The most recent analyst rating on (AU:IMD) stock is a Hold with a A$3.15 price target. To see the full list of analyst forecasts on Imdex Ltd stock, see the AU:IMD Stock Forecast page.