Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Imdex Limited (IMD.AX)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$5.50 - $32.34$10.12
Multi-Stage$3.28 - $3.58$3.43
Blended Fair Value$6.78
Current Price$2.72
Upside149.09%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-3.44%0.00%0.030.030.030.020.010.030.010.000.000.01
YoY Growth---22.03%21.37%15.75%94.11%-60.53%467.28%0.00%0.00%-100.00%0.00%
Dividend Yield--0.98%1.53%1.49%1.33%0.62%2.91%0.45%0.00%0.00%3.53%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)87.59
(-) Cash Dividends Paid (M)32.71
(=) Cash Retained (M)54.88
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)17.5210.956.57
Cash Retained (M)54.8854.8854.88
(-) Cash Required (M)-17.52-10.95-6.57
(=) Excess Retained (M)37.3643.9348.31
(/) Shares Outstanding (M)538.63538.63538.63
(=) Excess Retained per Share0.070.080.09
LTM Dividend per Share0.060.060.06
(+) Excess Retained per Share0.070.080.09
(=) Adjusted Dividend0.130.140.15
WACC / Discount Rate8.00%8.00%8.00%
Growth Rate5.50%6.50%7.50%
Fair Value$5.50$10.12$32.34
Upside / Downside102.08%272.18%1,088.96%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)87.5993.2899.35105.80112.68120.00123.60
Payout Ratio37.34%47.88%58.41%68.94%79.47%90.00%92.50%
Projected Dividends (M)32.7144.6658.0272.9489.55108.00114.33

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.00%8.00%8.00%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)40.9641.3541.74
Year 2 PV (M)48.8249.7550.69
Year 3 PV (M)56.2957.9159.55
Year 4 PV (M)63.3965.8368.33
Year 5 PV (M)70.1373.5277.03
PV of Terminal Value (M)1,485.721,557.481,631.98
Equity Value (M)1,765.311,845.831,929.33
Shares Outstanding (M)538.63538.63538.63
Fair Value$3.28$3.43$3.58
Upside / Downside20.49%25.99%31.69%

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