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

29/07/2025

1

Speculative Buy

$0.90

38.46%

Morgans highlights a clean 4Q result for Intelligent Monitoring with cash from operations of $17m and free cash flow exceeding $11m, following the resolution of refinancing and Johnson Controls International transition costs.

Cash at bank rose to $24m, supported by a $35m acquisition facility, explains the broker.

Earnings (EBITDA) of $38.6m was slightly below guidance due to work deferred into FY26, observes the analyst. FY25 underlying operating cash flow reached $32.4m, with convergence expected between earnings and cash flow in FY26.

With defensive earnings, circa 20% EBITA margins, and a strong outlook de-risked by the 4Q cash performance, Morgans sees valuation upside. Key catalysts include contract wins, acquisitions, and upcoming financial results.

Speculative Buy with a target of 90c, up from 80c.

FORECAST
Morgans forecasts a full year FY25 dividend of 0.00 cents and EPS of 6.70 cents.
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 10.60 cents.

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07/05/2025

1

Buy

$1.00

53.85%

Intelligent Monitoring has reaffirmed FY25 guidance for $40m adjusted earnings (EBITDA) post-acquisitions, with March quarter results showing stable operational momentum, according to Canaccord Genuity.

Recurring revenue from Monitoring and Services segments continues to perform to the broker's expectations, with all-in cash costs down by -$7.7m quarter-on-quarter.

Canaccord maintains its positive outlook, highlighting three structural growth drivers: expansion in commercial installation revenue, conversion of signal to video monitoring, and the underpenetrated residential security market.

Video Guard currently has 80 sites relative to the company's 170,000 existing alarm monitoring lines, presenting long-term uplift opportunities, suggest the analysts.

The broker retains a Buy rating and a $1.00 target price.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 7.50 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 9.60 cents.