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: 1.92
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

$3.61

25 Aug
2026

0.010

OPEN

$3.61

0.28%

HIGH

$3.65

3,141,592

LOW

$3.55

TARGET
$4.57 26.6% 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 . TEA . VBC . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
IMD: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 15.5 13.7 xxx
DPS (cps) xxx 3.4 3.8 xxx
EPS Growth xxx 44.0% - 11.5% xxx
DPS Growth xxx 36.0% 9.3% xxx
PE Ratio xxx N/A 26.3 xxx
Dividend Yield xxx N/A 1.0% xxx
Div Pay Ratio(%) xxx 22.2% 27.4% xxx

Dividend yield today if purchased 3 years ago: 1.91%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.95

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: 11/03 - ex-div 1.69c (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

0.7

No. Of Recommendations

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

Ord Minnett

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Bell Potter

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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Morgans

18/08/2026

2

Downgrade to Accumulate from Buy

$4.30

19.11%

Imdex's FY26 earnings (EBITDA) rose 29% and profit increased by 34%, broadly in line with Morgans' forecasts. The broker was, however, disappointed by higher integration, depreciation and finance costs, which weigh on the outlook below the earnings line.

The analyst leaves his FY27 EBITDA forecast unchanged at $200m, believing the market continues to underestimate operating leverage in the core business.

The FY27 profit forecast is lowered by -2% on higher interest costs, while earnings growth is expected to moderate to 16% from 34% in FY26. The target is lowered to $4.30 from $5.00 and the rating downgraded to Accumulate from Buy.

FORECAST
Morgans forecasts a full year FY27 dividend of 3.90 cents and EPS of 15.00 cents.
Morgans forecasts a full year FY28 dividend of 4.30 cents and EPS of 16.00 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$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

Jarden

xx/xx/xxxx

4

xxxxxxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

11/05/2026

1

Buy

$4.88

35.18%

Canaccord Genuity maintains a Buy rating for Imdex and increases the target price to $4.88 from $4.52 following a third-quarter trading update showing accelerated underlying revenue growth.

The business reported group revenue of $123m, representing a 23% increase on the prior corresponding period, driven by strong performance in the sensors, services, and software division, contributing 70% of total revenue.

The broker expects global exploration budgets to rise 15% to 20% in 2026, creating a highly supportive environment for ongoing operational growth across Australia and South America.

A growing proportion of higher-margin technology revenue and an expanding product suite are anticipated to drive operating leverage and accelerate earnings growth above the broader mining cycle.

Minor adjustments to the financial model, including higher anticipated interest costs, result in a 1% reduction to FY26 EBITDA estimates and a 1% increase for FY27.
Access Extra Coverage Research History >

IMD STOCK CHART

FNArena News on IMD

1
Weekly Ratings, Targets, Forecast Changes – 21-08-26

Aug 24 2026 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Aug 20, 2026

Aug 20 2026 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Aug 17, 2026

Aug 17 2026 - Daily Market Reports
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FNArena Corporate Results Monitor – 17-08-2026

Aug 17 2026 - Australia
5
In Case You Missed It – BC Extra Upgrades & Downgrades – 14-08-26

Aug 14 2026 - Weekly Reports

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