IMDEX LIMITED (IMD)
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IMD

IMD - IMDEX LIMITED

FNArena Sector : Mining Sector Contracting
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.81
Index: ASX200 | ASX300 | ALL-ORDS

Imdex is an Australian mining tech company. It manufacturers & provides drilling fluids, chemicals, mining instumentation and data & geo-analytical services. Formed in 1980, it became a listed company in 1987.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.76

26 Mar
2026

0.080

OPEN

$3.67

2.17%

HIGH

$3.78

1,364,576

LOW

$3.67

TARGET
$4.65 23.7% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ALQ . ANG . ARI . C79 . CDA . DNL . DOW . EHL . GNG . IPG . LBL . LYL . MAD . MAH . MIN . MLG . MND . MSV . MYE . NWH . ORI . PRN . RAN . RCR . SGH . SRG . SXE . VBC . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
IMD: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 10.8 12.5 xxx
DPS (cps) xxx 2.5 3.7 xxx
EPS Growth xxx 69.5% 15.5% xxx
DPS Growth xxx - 9.6% 45.3% xxx
PE Ratio xxx N/A 30.5 xxx
Dividend Yield xxx N/A 1.0% xxx
Div Pay Ratio(%) xxx 23.5% 29.5% xxx

Dividend yield today if purchased 3 years ago: 1.25%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.67

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 24/09 - ex-div 1.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx10.8
DPS All xxxxxxxxxxxxxxx2.5
Sales/Revenue xxxxxxxxxxxxxxx431.4 M
Book Value Per Share xxxxxxxxxxxxxxx123.0
Net Operating Cash Flow xxxxxxxxxxxxxxx123.5 M
Net Profit Margin xxxxxxxxxxxxxxx12.79 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx9.19 %
Return on Invested Capital xxxxxxxxxxxxxxx7.96 %
Return on Assets xxxxxxxxxxxxxxx6.83 %
Return on Equity xxxxxxxxxxxxxxx9.19 %
Return on Total Capital xxxxxxxxxxxxxxx9.95 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx62.1 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx8 M
Long Term Debt xxxxxxxxxxxxxxx93 M
Total Debt xxxxxxxxxxxxxxx100 M
Goodwill - Gross xxxxxxxxxxxxxxx325 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx43 M
Price To Book Value xxxxxxxxxxxxxxx2.21

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx57.4 M
Capex % of Sales xxxxxxxxxxxxxxx13.30 %
Cost of Goods Sold xxxxxxxxxxxxxxx303 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx58 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx8 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

24/02/2026

1

Upgrade to Buy from Neutral

$4.70

25.00%

On further inspection, UBS upgrades Imdex to Buy from Neutral and raises the target to $4.70 from $3.50 post a rise in EPS forecasts of 8% for FY26 and 10% for FY27.

****

At first look, Imdex delivered a strong result with net profit after tax 13% ahead of UBS' expectations, supported by 2Q26 revenue growth of 23% y/y, highlighting a strengthening exploration cycle.

The analyst notes margins expanded 140bps to 31.6%, demonstrating operating leverage to rising activity levels.

Management commented it enters 2H26 in an improving exploration market, with major budgets increasing and better junior funding conditions supporting demand.

Consensus currently implies 2H26 revenue growth of 10% y/y, which UBS believes is too low and likely to be materially upgraded. Neutral. Target $3.50.

FORECAST
UBS forecasts a full year FY26 dividend of 3.00 cents and EPS of 12.00 cents.
UBS forecasts a full year FY27 dividend of 4.00 cents and EPS of 15.00 cents.

Bell Potter

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

03/03/2026

4

Upgrade to Underweight from Sell

$3.60

-4.26%

Imdex' first half result was characterised by margin improvement in a strong outcome across the Americas and earnings beat estimates, Jarden comments.

While assessing valuation considerations are "secondary" to the beat to estimates and the upgrade cycle for investors, Jarden believes it has been wrong in its conservative approach to valuation metrics for the stock and raises its rating to Underweight from Sell.

Overall, the broker forecasts FY26 core net profit of $55.4m implying strong growth of 28% relative to FY25. Target is raised to $3.60 from $2.90.

FORECAST
Jarden forecasts a full year FY26 dividend of 2.80 cents and EPS of 10.30 cents.
Jarden forecasts a full year FY27 dividend of 3.30 cents and EPS of 11.50 cents.
Access Extra Coverage Research History >

IMD STOCK CHART

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Mar 19 2026 - Rudi's View
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Australian Broker Call *Extra* Edition – Mar 03, 2026

Mar 03 2026 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 27-02-26

Mar 02 2026 - Weekly Reports
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Feb 26 2026 - Commodities

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