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The Screen · Communication Services · Entertainment
IMAX Corporation
IMAX · the NYSE · USD · Market cap $2.9B · 679 employees
IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events in the United States, Canada, Greater China, rest of Asia, Western Europe, Latin America, and internationally.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 12.35, read 2026-10-28
Ethical passes the values gate
Price50.52 USD
Fair value54.51
Ethical score70.0/100
Our investment reviews on this name
2026-10-14Read Markdown50.80-0.6% to today ✓Accumulation gives way to Markdown after a 6% slide in 12 days
2026-10-02Read Accumulation54.04-6.5% to today Markup gives way to Accumulation after a 28% rise in 13 weeks
2026-07-02Read Markup42.24+19.6% to today ✓First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
IMAX Corporation holds its Markdown at $50.52. The statistical read favours the sellers, held for 38 days.
As held on the ledger · 2026-10-28
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 38 days
Price at the screen
$50.52
Valuation
72.73 trailing · 23.83 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.49
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
31.16%
Below 33%
Interest-bearing debt is just 31.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
29.57%
Below 49%
Money owed to the company is 29.6% of assets, under the 49% limit.
Pass
Revenue purity
0.68%
Below 5%
Only 0.7% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
IMAX clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 31%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-10-28. It updates when the underlying figures move, and past reads are kept below.
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Fair value range in USD, drawn from the 2026-10-28 screen. The gold marker is the market price at the same screen. A 7.9% margin of safety to the base estimate.
Third-party analyst targets: 12 covering, consensus Buy. The average target sits +19% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-28 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Cinema goers love the giant screen but revenue is shrinking
Picture families queuing for the next blockbuster in an IMAX theatre. The experience draws crowds yet the company behind the screens posted a 6 percent revenue drop and only 9 percent profit margins with an 11 percent return on equity. Opportunity rating sits at none despite a modest 14 percent gap to our fair value of 44.70 from the current 39.25 price.
We pass because the forward multiple of 20.4 times offers little cushion for a business whose top line is moving backwards. The ethical screen clears but the underlying numbers do not signal durable growth or an attractive entry point at present. Analyst targets cluster around 47 yet that consensus does not change our view.
Currency swings across its China and international markets add real volatility while competition from streaming and home theatres keeps pressure on attendance. Margins remain thin and any recovery would need sustained box office strength that has not materialised. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to Canada and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
IMAX trades on the NYSE (the company is based in Canada). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-28Markdown$53.09+3.0%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 3.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 26% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (11 analysts) rates it strong buy, with a mean price target of $47.
2026-10-21Markdown$51.55+1.5%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 1.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 21% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (11 analysts) rates it strong buy, with a mean price target of $47.
2026-10-14Markdown · changed$50.80-6.0%Entry 7
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (11 analysts) rates it strong buy, with a mean price target of $47.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 2.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (11 analysts) rates it strong buy, with a mean price target of $47.
2026-09-02Markup$52.76+34.4%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 34.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (11 analysts) rates it strong buy, with a mean price target of $47.
2026-08-02Markup$39.25-7.1%Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 7.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (11 analysts) rates it strong buy, with a mean price target of $47.
2026-07-18Markup$42.24+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (11 analysts) rates it strong buy, with a mean price target of $47.
2026-07-03Markup$42.24+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markup$42.24Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
