What is Imax Corp worth?
With the base-case assumptions below, a discounted cash flow model on Imax Corp's reported free cash flow gives $73.61 per share. The share price was $56.05 on September 25, 2026, 24% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $45.85 | -18% |
| Base | 15.0% | 9.0% | $73.61 | +31% |
| Bull | 20.0% | 8.0% | $125.28 | +124% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $94.62 | $101.17 | $109.18 | $119.19 | $132.06 |
| 8.0% | $78.83 | $83.08 | $88.10 | $94.13 | $101.49 |
| 9.0% | $67.35 | $70.25 | $73.61 | $77.52 | $82.14 |
| 10.0% | $58.64 | $60.71 | $63.05 | $65.72 | $68.81 |
| 11.0% | $51.83 | $53.34 | $55.03 | $56.94 | $59.10 |
Where the presets come from
Base: years 1 to 5 grow at Imax Corp's revenue growth rate over the last 5 fiscal years (24.5% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions