INTELLIGENT MONITORING GROUP LIMITED (IMB)
Share Price Analysis and Chart

23/02/2026

1

Speculative Buy

$1.00

61.29%

First half EBITDA from Intelligent Monitoring was less than Morgans expected amid lower margins. The environment in New Zealand was challenging and offset in part by more robust growth in Australia.

The broker expects the addition of Tyco NZ and Red Wolf will help deepen the business and reduce the volatility in New Zealand in the future.

Guidance for underlying EBITDA, ex Tyco NZ, of $43-47m has been reiterated. The broker expects completion of the Tyco settlement will occur now at the end of May instead of February.

Target price unchanged at $1. Speculative Buy.

FORECAST
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.90 cents.
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of 8.00 cents.

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

25/02/2026

1

Buy

$0.84

35.48%

Intelligent Monitoring provided a first half underlying EBITDA of $19.2m which beat Moelis' estimate. Earnings and cash flow are expected to continue to grow across FY26, which reflects the typical business seasonality and a skew to the second half.

M&A remains a prospect for upside to estimates, although the broker does not factor in any transforming acquisitions.

EBITDA estimates are downgraded by -6% in FY26 and -5.6% in FY27 to reflect a later completion date for the acquisition of Tyco NZ and Red Wolf, as well as a softer performance in New Zealand and a slower ramping up profile in commercial.

Buy rating. Target is $0.84, reduced from $0.95.

FORECAST
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 4.20 cents.
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 5.80 cents.