Imdex Limited (IMD) Fair Value & Analysis
Industrials · AU · Market cap A$2.0B
Fair value as of: Jul 11, 2026
From 26 valuation models · updated 30 days ago
Share price +3.9% over the past month.
A solid business, but screening 54% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (A$2.29). The favourable scenario is already priced in.
- Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (A$1.26 to A$2.29) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.
How to read this chart
60‑month range A$1.36 – A$4.43 · fair‑value band A$1.26 – A$2.29 · the A$4.02 price screens above the A$1.83 fair value. Dashed = 300-day average. As of Jul 11, 2026.
Analysis
Imdex Limited (IMD) currently trades at A$4.02, while our model-based Fair Value estimate is A$1.83, implying the stock looks roughly 54.5% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Imdex Limited generated revenue of A$466M at a net margin of 10.8%. Revenue grew 16.3% year over year. It earns a return on equity of 8.0%. Net debt stands at A$57.8M. Fundamentals as of Jul 11, 2026
Our scenario range runs from A$1.26 (bear case) to A$2.29 (bull case); at A$4.02, the current price sits above 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 about 12% below its 52-week high and 59% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 12% fair-value upside, at -54%, IMD screens richer 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.
All 26 models by family
Widest divergence: DCF Models (A$2.11) versus Dividend Discount (A$0.3600). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 55
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
Imdex Limited, a mining-tech company, provides drilling products, rock knowledge sensors, and data and analytics for the minerals industry in the Asia-Pacific, the Middle East, Africa, Europe, and the Americas.
Full company description
Imdex Limited, a mining-tech company, provides drilling products, rock knowledge sensors, and data and analytics for the minerals industry in the Asia-Pacific, the Middle East, Africa, Europe, and the Americas. The company offers bench characterization products, software suites, drilling fluids, structural geology products, geoscience products, directional drilling solutions, solids removal units, and survey technology products; and rock knowledge sensors. It also provides software products, such as aiSIRIS, a cloud-based mineral-interpretation AI system for portable infrared spectrometer data; and Datarock, a mining technology company that offers both products and services centred around using machine learning for geoscience data. In addition, the company offers HUB-IQ, a cloud-based portal integrated with industry software for validating field data transmitted from the drill rig; ioGAS, an exploratory data-analysis software application for detecting patterns, anomalies, and relationships in geoscience data; Krux, a drilling analytics software; and REFLEX XRF CONNECT, a systematic data capture application. The company was formerly known as Pilbara Gold NL and changed its name to Imdex Limited in July 1985. Imdex Limited was incorporated in 1980 and is headquartered in Balcatta, Australia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Imdex Limited reported revenue of A$431M in FY2025 versus A$264M in FY2021, a compound +13.0%/yr. Reported net income was A$55.2M in FY2025, compounding +14.9%/yr from FY2021.
IMD screens 54% overvalued. Compare with Caterpillar Inc →
Peer Group
Farm & Heavy Construction Machinery · 148 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.
Valuation Multiples vs Farm & Heavy Construction Machinery median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Farm & Heavy Construction Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Caterpillar Inc CAT | $952.41 | $307.83 | -68% |
| Deere & Company DE | $597.24 | $187.86 | -69% |
| AB Volvo (publ), VOLVA | kr 336.60 | kr 288.08 | -14% |
| PACCAR Inc PCAR | $126.20 | $94.80 | -25% |
| Epiroc AB EPIA | kr 251.90 | kr 144.14 | -43% |
| Exor N.V EXO | €69.40 | €219.41 | +216% |
| Sany Heavy Industry Co 600031 | ¥18.65 | ¥20.84 | +12% |
| XCMG Construction Machinery Co 000425 | ¥8.39 | ¥11.79 | +41% |
| Sinotruk (Hong Kong) Limited 3808 | HK$41.00 | HK$53.51 | +31% |
| Yutong Bus Co 600066 | ¥32.29 | ¥42.00 | +30% |
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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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