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IMAX China Holding
(1970)
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Rating:78Outperform
Price Target:
HK$10.00
▲(16.41% Upside)
Action:Reiterated
Date:08/23/26
The score is driven primarily by strong financial quality—especially the very strong, low-debt balance sheet—and improved profitability/cash conversion in 2025. Technicals are supportive with price above key moving averages and neutral-to-positive momentum. Valuation is reasonable at ~17x earnings, but lacks a stated dividend yield and the company’s historical earnings volatility remains a key risk.
Positive Factors
Near-zero debt strengthens financial resilience
Minimal leverage reduces interest and refinancing pressure, giving IMAX China greater flexibility to fund system upgrades, support cinema partners, and withstand weaker exhibition cycles without balance-sheet stress.
Negative Factors
Revenue and earnings remain cyclical
Dependence on cinema attendance, film performance, and exhibitor health makes earnings sensitive to industry cycles. Prior declines and losses indicate that strong margins in favorable periods may not persist through weaker demand environments.
Read all positive and negative factors
Positive Factors
Negative Factors
Near-zero debt strengthens financial resilience
Minimal leverage reduces interest and refinancing pressure, giving IMAX China greater flexibility to fund system upgrades, support cinema partners, and withstand weaker exhibition cycles without balance-sheet stress.
Read all positive factors
IMAX China Holding (1970) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.88B
Dividend Yield5.18%
Average Volume (3M)23.55K
Price to Earnings (P/E)16.8
Beta (1Y)0.57
Revenue Growth-16.55%
EPS Growth-34.17%
CountryHK
Employees90
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)0.06
Shares Outstanding339,887,200
10 Day Avg. Volume15,490
30 Day Avg. Volume23,545
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)1.13
Price to Sales (P/S)3.49
P/FCF Ratio6.18
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.1
Revenue Forecast (FY)HK$101.70M
IMAX China Holding Business Overview & Revenue Model
Company Description
IMAX China Holding, Inc. is an investment firm specializing in advanced digital and film projection technologies and solutions across the Greater China region, encompassing mainland China, Hong Kong, Macau, and Taiwan. Its operations are segmented...
How the Company Makes Money
IMAX China primarily makes money by monetizing the installation and ongoing operation of IMAX theater systems and by participating in the box-office economics of IMAX screenings.
Key revenue streams typically include:
1) Theater system arrangemen...
IMAX China Holding Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 78.91M | 102.34M | 81.00M | 86.98M | 73.33M | 112.80M |
| Gross Profit | 44.61M | 66.57M | 44.02M | 54.53M | 39.70M | 68.19M |
| EBITDA | 39.73M | 58.82M | 48.38M | 53.84M | 31.94M | 63.89M |
| Net Income | 21.87M | 37.68M | 22.22M | 27.50M | 10.76M | 38.22M |
Balance Sheet | ||||||
| Total Assets | 390.56M | 377.84M | 333.57M | 318.28M | 326.40M | 349.76M |
| Cash, Cash Equivalents and Short-Term Investments | 143.88M | 129.84M | 80.05M | 63.04M | 74.97M | 98.32M |
| Total Debt | 865.88K | 1.07M | 1.45M | 1.75M | 14.64M | 4.16M |
| Total Liabilities | 57.87M | 61.89M | 59.47M | 63.91M | 93.33M | 95.88M |
| Stockholders Equity | 332.69M | 315.95M | 274.10M | 254.37M | 233.07M | 253.88M |
Cash Flow | ||||||
| Free Cash Flow | 53.97M | 57.77M | 20.06M | 8.42M | 1.07M | 22.55M |
| Operating Cash Flow | 54.21M | 57.94M | 30.82M | 12.54M | 1.16M | 30.14M |
| Investing Cash Flow | -6.47M | -5.76M | -10.74M | -3.79M | -13.74M | 10.19M |
| Financing Cash Flow | -1.90M | -3.31M | -2.10M | -19.68M | -5.84M | -33.37M |
IMAX China Holding Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | HK$2.88B | 16.80 | 6.74% | 5.18% | -16.55% | -34.17% | |
70 Outperform | HK$14.84B | 15.30 | 4.77% | ― | 21.91% | 94.03% | |
65 Neutral | HK$235.17M | -1.72 | -10.79% | 99.02% | -17.38% | -360.00% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
49 Neutral | HK$1.78B | -42.96 | -19.16% | ― | -10.26% | 27.08% | |
47 Neutral | HK$863.67M | -1.64 | -54.38% | ― | ― | ― | |
43 Neutral | HK$15.30B | -42.13 | -24.66% | 30.56% | -69.21% | -18.77% |
* Communication Services Sector Average
HK:1970
IMAX China Holding
8.45
0.28
3.43%
HK:0326
China Star Entertainment
6.45
4.16
181.66%
HK:0391
Mei Ah Entertainment Group Limited
0.31
0.22
246.59%
HK:1132
Orange Sky Golden Harvest Entertainment (Holdings) Limited
0.08
<0.01
1.22%
HK:1003
Huanxi Media Group Ltd.
0.20
-0.15
-43.71%
HK:1060
Damai Entertainment Holdings Limited
0.48
-0.60
-55.56%
IMAX China Holding Corporate Events
IMAX China Posts Lower First-Half 2026 Profit Amid Revenue Decline
Jul 23, 2026
IMAX China Holding, Inc., a leading provider of premium large-format cinema technologies and related services in Greater China, reported unaudited interim results for the six months ended 30 June 2026. The company focuses on advanced projection sy...
IMAX China Sets July Board Meeting to Review Interim Results and Dividend
Jul 13, 2026
IMAX China Holding, Inc. has scheduled a board meeting for 23 July 2026 to review and approve the group’s interim results for the six months ended 30 June 2026. The board will also consider the declaration of an interim dividend and address ...
IMAX China Grants Immediate-Vesting RSUs to Board Directors
Jun 11, 2026
IMAX China Holding has granted 486,080 restricted share units to five board members, representing about 0.14% of its issued share capital, as part of its remuneration framework. The awards, which vest immediately and are not subject to performance...
IMAX China Wins Strong Shareholder Backing for Board, Auditor and Capital Mandates
Jun 11, 2026
IMAX China Holding, Inc. said all resolutions at its 11 June 2026 annual general meeting were approved by shareholders, including receipt of the 2025 audited accounts, re-election of executive director Daniel Manwaring and independent non-executiv...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.