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

31/08/2026

1

Speculative Buy

$1.10

71.88%

Intelligent Monitoring Group's FY26 result was broadly in line with Morgans' expectations, with revenue rising 16% y/y, -4% below forecast, while EBITDA increased 15% y/y and met the broker's forecast.

Adjusted NPATA was 9% ahead, although the result benefited from a one-off tax refund.

Notably, the NZ business recovered strongly in 2H26, while the secured commercial pipeline has doubled since 1Q to $72.4m.

The broker believes the investment case now increasingly hinges on the acquisition and execution of ADT UK's Residential business, which generates around $80m of EBITDA. FY27 guidance expected at the AGM.

FY27-FY28 EBITA forecasts are lowered by -7%-10% due to higher depreciation. Morgans retains a Speculative Buy and reduces the target price to $1.10 from $1.20.

FORECAST
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of 7.40 cents.
Morgans forecasts a full year FY28 dividend of 0.00 cents and EPS of 9.20 cents.

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06/07/2026

1

Buy

$1.25

95.31%

Canaccord Genuity maintains a Buy rating for Intelligent Monitoring with its target price increased to $1.25 following what the broker labels a "transformational" $346m acquisition of ADT UK.

The transaction involves purchasing the recognised British residential security provider from Johnson Controls International utilising $298m in cash funded by new debt facilities alongside $48m in scrip consideration.

On a pro-forma basis, group revenue scales to $433m and operating earnings more than double to $130m, supported by the addition of over 160,000 direct customers holding multi-year subscription contracts.

The analyst anticipates the integration will be highly cashflow accretive, prompting 69% and 122% upgrades to FY27 and FY28 operating earnings forecasts, respectively.

Commentary concludes the investment thesis highlights deep value at an implied forward earnings multiple of 6x, with the acquired video-guard technology offering material cross-selling opportunities across the newly expanded global subscriber base.