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Imperial Equities Inc (IEI) Fair Value & Analysis

Real Estate · CA · Market cap C$36.4M

IE Imperial Equities Inc IEI · V
PriceC$4.50
Fair ValueC$9.08
Upside+101.8%
Quality66/100
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Healthy Growth
Highly profitable · 20.1% net margin
Low debt · generates free cash flow
2.08% dividend yield
Ranks above peers (10/14)
Moderate moat 59/100
Evidence: High Range C$9.05 – C$10.94 Share as image

Fair value as of: Jul 26, 2026

From 16 valuation models · updated 15 days ago

Share price +5.9% over the past month.

A solid business, screening 102% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (C$9.05). The market is more pessimistic than our downside scenario.
  • Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

C$5.61 C$3.18 Fair Value C$9.08 Apr 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.

How to read this chart

60‑month range C$3.18 – C$5.61 · fair‑value band C$9.05 – C$10.94 · the C$4.50 price screens below the C$9.08 fair value. Dashed = 300-day average. As of Jul 26, 2026.

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Analysis

Imperial Equities Inc (IEI) currently trades at C$4.50, while our model-based Fair Value estimate is C$9.08, implying the stock looks roughly 101.8% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Imperial Equities Inc generated revenue of C$19.7M at a net margin of 20.1%. Revenue declined 1.3% year over year. It earns a return on equity of 3.6%. Net debt stands at C$110M. Fundamentals as of Jul 26, 2026

Our scenario range runs from C$9.05 (bear case) to C$10.94 (bull case); at C$4.50, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 35% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at 102%, IEI screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF C$10.33 C$17.97 C$29.91 80
Residual Income C$7.93 C$7.53 C$5.97 76
Rev-Margin DCF C$10.95 C$20.71 C$40.51 74
All 16 models by family
DCF Models
FCF DCF C$11.17 C$16.50 C$32.07 38
5Y Revenue Exit C$9.75 C$17.85 C$34.73 39
5Y EBITDA Exit C$12.61 C$23.60 C$45.14 41
10Y Revenue Exit C$9.90 C$22.46 C$29.99 36
10Y EBITDA Exit C$12.02 C$27.69 C$54.56 37
Dividend Discount
Gordon GGM C$0.5600 C$0.9300 C$1.21 70
DDM Multi-Stage C$0.5600 C$0.8900 C$1.00 61
Multiples
P/S Multiple C$6.56 C$8.75 C$10.94 58
P/B Multiple C$6.56 C$8.75 C$10.94 55
EV/EBIT C$17.61 C$24.19 C$30.76 53
EV/EBITDA C$13.37 C$18.53 C$23.69 54
EV/Revenue C$8.22 C$12.64 C$17.07 43
Asset-Based
NCAV (Graham) C$5.90 C$7.91 C$11.80 50
Growth DCF
Growth DCF C$10.33 C$17.97 C$29.91 80
Rev-Margin DCF C$10.95 C$20.71 C$40.51 74
Economic Profit
Residual Income C$7.93 C$7.53 C$5.97 76

Widest divergence: DCF Models (C$22.46) versus Dividend Discount (C$0.8900). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) C$19.7M
Revenue growth (YoY) -1.3%
Net margin 20.1%
Return on equity 3.6%
Free cash flow C$10.6M FY2025
P/E ratio 9.4
More key figures
Operating margin 54.7%
EPS (TTM) C$0.4100
Dividend yield 2.1%
EPS growth (YoY) -27.2%
Net debt C$110M FY2025

Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 63 · Market factors (momentum, volatility) 67

Profitability 33
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 81
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Imperial Equities Inc., together with its subsidiaries, engages in the acquisition, development, redevelopment, leasing, and sale of industrial, agricultural, and commercial properties primarily in Canada. Imperial Equities Inc. was incorporated in 1996 and is headquartered in Edmonton, Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Imperial Equities Inc reported revenue of C$19.9M in FY2025 versus C$18.1M in FY2021, a compound +2.4%/yr. Reported net income was C$4.9M in FY2025, compounding −8.2%/yr from FY2021.

Growth Quality 72/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
C$19.9M
Latest YoY
+2.0%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+1.5%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.4%
Avg. growth/yr (27Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+44.4%
Revenue +2.4%/yr
FY21 C$18.1M
FY22 C$19.1M
FY23 C$19.7M
FY24 C$19.5M
FY25 C$19.9M
Net income −8.2%/yr
FY21 C$6.8M
FY22 C$7.9M
FY23 C$6.8M
FY24 −C$4.3M
FY25 C$4.9M
Character of growth · EPS growth decomposed (2012-2023) +0.3 % p.a.
Revenue per share −12.2 pp

of which total revenue −12.4 pp · buybacks/dilution +0.2 pp

EBIT margin +18.9 pp
Tax rate −0.4 pp
Residual (interest, one-offs) −6.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Imperial Equities Inc Fair Value". https://www.fairvalue-calculator.com/stock/IEI

Peer Group

Real Estate Services · 520 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 67 · Top 25%
Fair Value upside +102% · Top 25%
Return on equity (TTM) 4% · Below median
Return on assets 3% · Above median
Net margin (TTM) 20% · Above median
Operating margin (TTM) 55% · Top 25%
Revenue growth -1% · Below median
Dividend yield (TTM) 2.1% · Below median
Debt / equity 0.18× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 9.4× · Cheaper than median
P/B 0.23× · Cheaper than 75% of peers
P/S (TTM) 1.32× · Cheaper than median
P/FCF 2.5× · Pricier than median
EV/EBITDA 4.2× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 37
FUTURE 0 · sector 10
PAST 14 · sector 16
HEALTH 91 · sector 85
DIVIDEND 42 · sector 49

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).

Stock Price Fair Value vs Fair Value
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KE Holdings 2423 HK$44.76 HK$18.03 -60%
Swire Properties Limited 1972 HK$23.90 HK$18.75 -22%
Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 3,998 ARS +60%

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Frequently asked questions

Is Imperial Equities Inc (IEI) overvalued or undervalued?
As of Jul 26, 2026, our model estimates a fair value of C$9.08 versus a price of C$4.50, about +102% (undervalued).
What is the fair value of IEI?
Our model-based fair value for Imperial Equities Inc is C$9.08 (as of Jul 26, 2026), built from audited fundamentals. The current price is C$4.50.
What is the quality score of IEI?
Imperial Equities Inc has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Imperial Equities Inc (IEI)?
Imperial Equities Inc reported trailing-twelve-month revenue of about C$19.7M (latest available figure, as of Jul 26, 2026).
What is the net profit margin of IEI?
The net profit margin of Imperial Equities Inc is about 20.1%, meaning it keeps roughly 20.1% of revenue as net income. Based on the latest reported figures.
Does Imperial Equities Inc pay a dividend?
Imperial Equities Inc currently shows a dividend yield of about 2.08% relative to its recent price (as of Jul 26, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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