IMAX Corporation (IMAX) Stock Price & Analysis
IMAX Corporation (IMAX) closed at USD 52.31 on Thursday, October 22, 2026, down 1.47% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 53.09; the Oct 22, 2026 session ranged USD 52.16–53.47 on volume of 792,433 shares. Market capitalization is $2.87B, with a 52-week range of USD 31.27–57.73 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:57 UTC.
Also available as compact Markdown for AI agents: nexqual.com/IMAX.md
Key facts (IMAX)
- Last four reported quarters (through Jun 30, 2026): revenue $416M, net income $40.9M (9.8% margin), free cash flow $127M (SEC filings).
- Valuation: P/E 70.1x (avg 48.2x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 12 Form 4 filings, $42.8M; 6 not under a Rule 10b5-1 plan ($5.1M); 3 by opportunistic insiders (3 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.92 on a 1–5 scale) (12 analysts), mean target USD 60 (range 52–65).
- Total return with dividends: 1Y +61.3% vs S&P 500 +14.9%; 5Y +139.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 1.03, revenue estimate $168M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (IMAX)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $255M | $301M | $375M | $352M | $410M | $416M |
| Gross profit | $134M | $156M | $214M | $190M | $246M | — |
| Operating income | $11.0M | -$4.8M | $50.4M | $43.9M | $84.2M | $83.9M |
| Net income | -$22.3M | -$22.8M | $25.3M | $26.1M | $34.9M | $40.9M |
| EPS (diluted) | -$0.38 | -$0.40 | $0.46 | $0.48 | $0.63 | — |
| Free cash flow | $2.5M | $8.9M | $52.1M | $62.4M | $119M | $127M |
| Gross margin | 52.7% | 52.0% | 57.2% | 54.0% | 60.0% | — |
| Operating margin | 4.3% | -1.6% | 13.4% | 12.5% | 20.5% | 20.2% |
| Net margin | -8.8% | -7.6% | 6.8% | 7.4% | 8.5% | 9.8% |
| Revenue growth | +86.0% | +18.0% | +24.6% | -6.0% | +16.5% | — |
| Cash + short-term investments | $190M | $97.4M | $76.2M | $101M | $151M | — |
| Total debt | $2.5M | — | — | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (IMAX)
P/E 70.1x · P/S 6.9x · P/FCF 22.7x · P/B 8.1x · FCF yield 4.41% · Earnings yield 1.43%
P/E at fiscal year-ends: Dec 2025 58.9x, Dec 2024 52.9x, Dec 2023 32.7x.
Insider sales (SEC Form 4, open-market, last ~7 months) (IMAX)
6 of 12 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-10 | Lister Robert D | Chief Legal Officer Sr Exec VP | 22,500 | $1.2M | 11% | No | Too little history (no open-market trades in 2023) |
| 2026-08-25 | Welton Mark | President IMAX Global Theatres | 30,000 | $1.6M | 17.3% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-25 | Weissman Kenneth Ian | Deputy GC, Corp. Sec. & CCO | 8,000 | $436K | 22.1% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-24 | Fernandes Natasha | Chief Financial Officer & EVP | 20,000 | $1.1M | 36% | No | Too little history (no open-market trades in 2023) |
| 2026-08-20 | Pablo Calamera | CTO & EVP | 15,000 | $786K | 25.9% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-18…2026-08-20 | Gelfond Richard L | Chief Executive Officer | 456,757 | $24.0M | 40.7% | Yes | Too little history (no open-market trades in 2024) |
| 2026-08-06 | Zlatar Jose Aleksandr | SVP, Controller & PAO | 500 | $25K | 46.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-27 | Gelfond Richard L | Chief Executive Officer | 8,943 | $334K | 1.2% | Yes | Too little history (no open-market trades in 2024) |
| 2026-04-16…2026-04-17 | Gelfond Richard L | Chief Executive Officer | 75,919 | $2.8M | 9% | Yes | Too little history (no open-market trades in 2024) |
| 2026-04-13…2026-04-15 | Gelfond Richard L | Chief Executive Officer | 120,132 | $4.5M | 13.6% | Yes | Too little history (no open-market trades in 2024) |
| 2026-04-10 | Gelfond Richard L | Chief Executive Officer | 135,046 | $5.1M | 15% | Yes | Too little history (no open-market trades in 2024) |
| 2026-04-02…2026-04-06 | Gelfond Richard L | Chief Executive Officer | 25,024 | $1.0M | 3.2% | Yes | Too little history (no open-market trades in 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (IMAX)
Consensus Buy (mean 1.92 on a 1–5 scale), 12 analysts; mean target USD 60 (low 52, high 65).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Wells Fargo | Target raised | Equal-Weight | $45 → $55 |
| 2026-10-14 | Wedbush | Target raised | Outperform | $54 → $60 |
| 2026-10-14 | Rosenblatt | Maintained | Buy | $65 |
| 2026-10-08 | B. Riley Securities | Target raised | Buy | $61 → $64 |
| 2026-10-07 | StoneX | Target raised | Buy | $60 → $65 |
| 2026-09-24 | Morgan Stanley | Initiated | Overweight | $63 |
| 2026-09-09 | Rosenblatt | Target raised | Buy | $60 → $65 |
| 2026-09-04 | Goldman Sachs | Target raised | Neutral | $42 → $50 |
| 2026-09-03 | Roth Capital | Target raised | Buy | $50 → $60 |
| 2026-09-02 | Macquarie | Target raised | Outperform | $50 → $55 |
| 2026-08-24 | B. Riley Securities | Target raised | Buy | $52 → $61 |
| 2026-08-19 | Rosenblatt | Maintained | Buy | $60 |
Total return (dividends reinvested) (IMAX)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +61.3% | +139.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +61.5% | +19.0% |
| Volatility (annualized) | 42.5% | 39.2% |
| Max drawdown | -22.7% (Feb 2026→May 2026) | -39.5% (Oct 2021→Oct 2022) |
IMAX revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Sub-total for reportable segments | $99.5M | 96.7% | +11.0% |
| — Technology Products and Services (part of Sub-total for reportable segments) | $64.8M | 63.0% | +16.5% |
| — Content Solutions (part of Sub-total for reportable segments) | $34.7M | 33.7% | +2.1% |
| All Other | $3.3M | 3.3% | +60.9% |
| Total revenue | $102.8M | 100% | — |
IMAX revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Image enhancement and maintenance services | $53.2M | 51.7% | +4.5% |
| Image Enhancement and Maintenance Services | $34.6M | 33.6% | +3.1% |
| Technology sales | $26.7M | 25.9% | +41.5% |
| Technology rentals | $20.0M | 19.4% | +4.6% |
| Finance income | $3.0M | 2.9% | +5.4% |
| Total revenue | $102.8M | 100% | — |
IMAX revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $39.4M | 38.3% | -7.0% |
| Asia Excluding Greater China | $22.9M | 22.3% | +145.9% |
| Western Europe | $16.9M | 16.4% | +19.6% |
| Greater China | $13.9M | 13.5% | -21.5% |
| Rest of the World | $4.3M | 4.2% | +21.6% |
| Latin America | $2.9M | 2.8% | +35.9% |
| Canada | $2.5M | 2.5% | +1.7% |
| Total revenue | $102.8M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
IMAX suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Sony (SONY) | “As of December 31, 2025, IMAX Enhanced certified devices in-market are with partners including Sony Electronics, Hisense, TCL, LG, and Philips.” |
| Partner | Netflix (NFLX) | “Discovery ("WBD") announced it was considering a sale of its assets and in December 2025, WBD announced it had signed a merger agreement with Netflix, although WBD continues to evaluate offers from Paramount Skydance.” |
| Partner | Amazon (AMZN) | “The Company actively partners with more than 60 content owners worldwide, including increasingly streaming platforms such as Netflix, Amazon and Apple.” |
| Partner | Apple (AAPL) | “The Company actively partners with more than 60 content owners worldwide, including increasingly streaming platforms such as Netflix, Amazon and Apple.” |
Quoted from the company's 10-K filed Feb 25, 2026.
Companies that name IMAX in their SEC reports
| Relationship to IMAX | Company | Filing | Sentence |
|---|---|---|---|
| partner | Dolphin Entertainment, Inc. (DLPN) | 10-K Mar 27, 2026 | “an agreement with IMAX to co-produce and co-finance a documentary motion picture on the flight demonstration squadron of the United States” |
| supplier | AMC ENTERTAINMENT HOLDINGS, INC. (AMC) | 10-K Feb 23, 2026 | “Whether through enhanced food and beverage options (Food and Beverage Kiosks, Marketplaces, Coca-Cola Freestyle, MacGuffins or Dine-in-Theatres), more comfort and convenience (recliner seating, open-source internet ticketing, reserved seating), engagement and loyalty (AMC Stubs®, mobile apps, social media, or AIC) or sight and sound (digital and laser projection, 3D, Dolby Cinema™ at AMC, IMAX®, SCREENX, 4DX, or o…” |
IMAX customer concentration
In the period ended Jun 30, 2026, a single direct customer accounted for 13% of revenue, per the company's 10-Q filed Jul 23, 2026. The company does not name it.
IMAX analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $1.03 | $0.52 | +97.4% | $168.5M | 9 |
| Next quarter (ends Dec 2026) | $0.60 | $0.72 | -15.7% | $133.3M | 9 |
| Current fiscal year (ends Dec 2026) | $2.23 | $1.82 | +22.4% | $484.5M | 9 |
| Next fiscal year (ends Dec 2027) | $2.27 | $2.05 | +10.7% | $494.4M | 9 |
IMAX options: expected move
Options price a move of about ±11.9% (±$6.25) by Nov 20, 2026, which includes earnings on Nov 5, 2026. Over the last 8 reports the stock moved ±6.4% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 51.5% | ±11.9% |
| Dec 18, 2026 | 56 | 44.3% | ±14.4% |
| Mar 19, 2027 | 147 | 48.1% | ±24.2% |
| Jun 17, 2027 | 237 | 45.7% | ±29.2% |
30-day implied volatility 48.2% vs 28.7% realized over the last 30 trading days. Put/call ratio (volume) 0.67. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:57 UTC)
| Price | USD 52.31 |
|---|---|
| Change | ▼ 1.47% (down) |
| Previous Close | USD 53.09 |
| Open | USD 53.07 |
| Day Range | USD 52.16 – 53.47 |
| 52-Week Range | USD 31.27 – 57.73 |
| Volume | 792,433 shares |
| Market Cap | $2.87B |
| Exchange | NYQ |
Technical Analysis (IMAX)
Nexqual's technical model rates IMAX "NEUTRAL" based on 2 bullish and 3 bearish signals across 127 daily candles, as of October 23, 2026 at 09:57 UTC.
| Overall Signal | NEUTRAL |
|---|---|
| RSI (14) | 51.09 (neutral) |
| vs SMA50 | Below (USD 52.57) |
| MACD | -0.09 (negative) |
Analyst Ratings (IMAX)
Wall Street analysts rate IMAX "Buy" based on 12 analysts, with a mean price target of USD 60 (range USD 52–65), per Nexqual as of October 23, 2026 at 09:57 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 12 |
| Mean Target | USD 60 |
| High Target | USD 65 |
| Low Target | USD 52 |
| Buy / Hold / Sell | 10 / 2 / 0 |
Earnings (IMAX)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 1.03 |
| Revenue Estimate | $168.50M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.43 vs est 0.27 ▲ beat |
| 2026-03-31 | USD 0.17 vs est 0.15 ▲ beat |
| 2025-12-31 | USD 0.58 vs est 0.47 ▲ beat |
| 2025-09-30 | USD 0.47 vs est 0.39 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
Financials & Fundamentals (IMAX)
| Total Revenue | $416.08M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +12.20% |
| Gross Margin | +59.73% |
| Operating Margin | +22.53% |
| Profit Margin | +9.84% |
| ROE | +11.02% |
| Debt / Equity | 0.63 |
| Current Ratio | 4.26 |
| Total Cash | $159.92M |
| Total Debt | $282.64M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $126.59M (30.4% of revenue) |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
Financial Health Score (IMAX)
Nexqual rates IMAX Corporation's overall financial health "Solid" across five dimensions, as of October 23, 2026 at 09:57 UTC.
| Growth | Strong — Revenue +16% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 60%, operating 23% (last 12 months) |
| Balance Sheet | Strong — $160M cash vs $283M debt |
| Cash Flow | Strong — FCF $127M (last 4 quarters to Jun 2026, SEC), 30% margin |
| Efficiency | Mixed — ROE 11%, ROA 6.7% |
Ownership (IMAX)
| Insider Ownership | +17.92% |
|---|---|
| Institutional Ownership | +99.33% |
| Shares Outstanding | 54.84M |
| Float | 41.89M |
| Short % of Float | +18.38% |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
Leadership (IMAX)
IMAX Corporation is led by Richard Lewis Gelfond, CEO & Director, per Nexqual as of October 23, 2026 at 09:57 UTC.
| CEO & Director | Richard Lewis Gelfond |
|---|---|
| Executive VP & CFO | Natasha Fernandes |
| Chief Marketing Officer | Anne Globe |
| President of IMAX Global Theatres | Mark Welton |
| Executive VP & CTO | Pablo Calamera |
Major Backers & Investors (IMAX)
Notable institutional backers of IMAX Corporation include Orbis Allan Gray Ltd, Nomura Asset Management International Inc, Westfield Capital Management Co LP, according to Nexqual as of October 23, 2026 at 09:57 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Orbis Allan Gray Ltd | 9.39% |
| Nomura Asset Management International Inc | 5.35% |
| Westfield Capital Management Co LP | 4.84% |
| Congress Asset Management Co | 4.63% |
| Driehaus Capital Management, LLC | 4.27% |
| FMR, LLC | 4.23% |
| Delaware Group Equity Funds V-Nomura Small Cap Core Fund | 3.28% |
| Ameriprise Financial, Inc. | 3.23% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 5.3% |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
From IMAX Corporation's Latest SEC 10-K Filing (filed 2026-02-25)
Key Strengths & Strategy (as disclosed to the SEC)
- To capture content in a resolution appropriate for IMAX screens, filmmakers utilize IMAX 65mm film cameras or IMAX-certified digital cameras with leading brands, including ARRI, Panavision, RED Digital Cinema, and Sony.
- Through its proprietary software, auditorium architecture, patented intellectual property, and specialized equipment, IMAX offers a unique end-to-end solution to create superior, awe-inspiring immersive content experiences for which the IMAX® brand is globally renowned.
- The Company leverages its proprietary technology and engineering in its business, which principally consists of the digital remastering of films and other content into the IMAX format for distribution across the IMAX network ("IMAX Film Remastering") and the sale or lease of premium IMAX theater systems ("IMAX System(s)").
- In 2025, the Company released several films shot with IMAX proprietary cameras under the Filmed For IMAX® program, that generated more than $40.0 million in global IMAX box office on a per-title basis.
Partnerships
- Discovery ("WBD") announced it was considering a sale of its assets and in December 2025, WBD announced it had signed a merger agreement with Netflix, although WBD continues to evaluate offers from Paramount Skydance.
- The Company also continued its partnership with A24 to present one-night-only IMAX releases of classic A24 titles, including Talk to Me, Moonlight, and Spring Breakers.
Legal & Regulatory Risks (Item 1A, quoted)
- The Company may experience adverse effects due to exchange rate fluctuations.
- Failure to respond adequately or in a timely fashion to changes and advancements in technology could negatively affect the Company's business.
- The introduction of new, competing products and technologies could harm the Company's business.
- The Company may not be able to adequately protect its intellectual property, and competitors could misappropriate its technology or brand, which could weaken its competitive position.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| AMC | AMC Entertainment Holdings, Inc | USD 2.93 | ▼ 3.62% |
| BATRA | Atlanta Braves Holdings, Inc. - | USD 54.69 | ▼ 0.78% |
| MANU | Manchester | USD 20.78 | ▼ 0.38% |
| LION | Lionsgate Studios Corp | USD 12.7 | ▲ 0.16% |
| SPHR | Sphere Entertainment Co. | USD 111.61 | ▼ 2.16% |
| VSNT | Versant Media Group, Inc. | USD 32.29 | ▲ 3% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:57 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt