Stock fact sheet · data as of
IMAX Corporation (IMAX): fair value, margin of safety and Wheel Score
Communication Services · Entertainment · Canada · High Growth
Is IMAX undervalued?
IMAX closed at 51.55 on 16 Oct 2026, more than 30% above the GLS average fair value of 34.45. Only 1 of the 8 models that produced a value sit above the price. By our models the shares are priced well beyond what the filed earnings, cash flow and book value support; the Sunday Scan drops names like this at the "below fair value" rule.
There is a wide gap between EPV (8.27) and Payback Time (73.72). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files IMAX under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.
Nine valuation models for IMAX
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 46.29 | -10% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 10.42 | -80% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 28.41 | -45% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 11.36 | -78% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 45.59 | -12% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 51.49 | -0% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 73.72 | +43% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 8.27 | -84% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -2.35 | -105% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 57.00 | +11% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
IMAX Corporation scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the Sunday Scan's "6 or more" rule with room to spare. On durability IMAX scores 5.3/10 on the GLS Moat - a middle reading; the Scorecard on the Quote page's Financials tab shows which ten-year lines are steady and which are not.
Returns on capital are moderate - ROIC 5.5%, ROE 10.3%, ROA 3.9% - with debt at 0.88 times equity and a free-cash-flow yield of 4.5%.
IMAX Corporation pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Image Enhancement And Maintenance Servi… 53%, Technology Sales 27%, Technology Rentals 20% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 3/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 5.5% |
|---|---|---|---|
| GLS Moat | 5.3 / 10 | ROE | 10.3% |
| Debt / equity | 0.88 | ROA | 3.9% |
| Free-cash-flow yield | 4.5% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 3 · 5 / 10 |
Wheel Score 58: Fair
A Wheel Score of 58 puts IMAX Corporation in the Fair band - below the 70 the Sunday Scan requires. Value 0/25, Health 16/20, Moat 8/15, Premium 20/20 and Stability 14/20; the weakest part is Value (0/25).
Implied volatility is 57% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 30,506 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 552k shares a day on a market cap of $2.8B, with a beta of 0.40 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 14 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 0 / 25 | -50% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 8 / 15 | moat 5.3/10 | |
| Premium | 20 / 20 | implied volatility 57% | |
| Stability | 14 / 20 | 552k shares/day, $2.8B cap, beta 0.40 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
IMAX Corporation reports earnings on 22 Oct 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Entertainment
The 12 companies below are the closest to IMAX Corporation by market cap within the Entertainment industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| BATRB Atlanta Braves Holdings, Inc. | 62.75 | 17.30 | -263% | 22No options | $2.7B |
| AMC AMC Entertainment Holdings, Inc. | 3.02 | 15.70 | +81% | 45Weak | $2.7B |
| BATRK Atlanta Braves Holdings, Inc. | 49.41 | 22.48 | -120% | 44Weak | $3.2B |
| BATRA Atlanta Braves Holdings, Inc. | 54.66 | 23.88 | -129% | 41Weak | $3.5B |
| MANU Manchester United plc | 20.58 | - | - | 45Weak | $3.5B |
| SPHR Sphere Entertainment Co. | 103.98 | 144.60 | +28% | 45Weak | $3.7B |
| MSGE Madison Square Garden Entertainment Corp. | 79.72 | 80.21 | +1% | 63Fair | $3.8B |
| VSNT Versant Media Group, Inc. Class A | 30.98 | 162.37 | +81% | 86Prime | $4.3B |
| CNK Cinemark Holdings, Inc. | 38.52 | 59.12 | +35% | 80Prime | $4.5B |
| IQ iQIYI, Inc. | 0.9825 | 93.01 | +99% | 45Weak | $948M |
| MCS The Marcus Corporation | 28.65 | 26.39 | -9% | 63Fair | $883M |
| LLYVK Liberty Live Group | 99.66 | 120.73 | +17% | 45Weak | $9.2B |
⚖ Compare IMAX with 7 of them All Communication Services stocks →
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Start free See the Sunday ScanQuestions about IMAX
Is IMAX undervalued right now?
No: at 51.55 the stock trades 50% above the GLS average fair value of 34.45 (data as of 16 Oct 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of IMAX and what does it mean?
IMAX scores 58 out of 100 (Fair). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for IMAX?
34.45 per share as of 16 Oct 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does IMAX Corporation report earnings next?
The next earnings report is due on 22 Oct 2026 (before the open), 6 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does IMAX have listed options, and how liquid are they?
Yes. The nightly snapshot found 230 listed contracts with 30,506 open interest across all expiries and implied volatility of 57% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.