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ImExHS Limited (IME) Fair Value & Analysis

Healthcare · AU · Market cap A$15.0M

IL ImExHS Limited IME · AU
PriceA$0.3200
Fair ValueA$0.3485
Upside+8.9%
Quality38/100
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Mixed Growth
Loss-making · -10.0% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/11)
Narrow moat 16/100
Evidence: Medium Range A$0.2720 – A$0.4250 Share as image

Fair value as of: Jul 11, 2026

From 11 valuation models · updated 30 days ago

Share price −7.2% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from A$0.2720 (bear) to A$0.4250 (bull), base A$0.3485. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 38/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

A$2.47 A$0.2200 Fair Value A$0.3485 Sep 2019 Aug 2026

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$0.2200 – A$2.47 · fair‑value band A$0.2720 – A$0.4250 · the A$0.3200 price screens below the A$0.3485 fair value. Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

ImExHS Limited (IME) currently trades at A$0.3200, while our model-based Fair Value estimate is A$0.3485, implying the stock looks roughly 8.9% fairly valued today. The Quality Score stands at 38/100 (below-average quality), in the Healthcare 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: medium), always confirm before acting.

Over the trailing twelve months, ImExHS Limited generated revenue of A$29.0M at a net margin of -10.0%. Revenue grew 21.0% year over year. It earns a return on equity of -19.0%. The balance sheet holds a net cash position of A$2.7M. Fundamentals as of Jul 11, 2026

Our scenario range runs from A$0.2720 (bear case) to A$0.4250 (bull case); at A$0.3200, the current price sits within 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 32% below its 52-week high and 45% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -48% fair-value upside, at 9%, IME 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 A$0.1100 A$0.1400 A$0.1900 80
Gordon GGM A$0.2500 A$0.4200 A$0.5500 70
DDM Multi-Stage A$0.2500 A$0.4000 A$0.4500 61
All 11 models by family
DCF Models
FCF DCF A$0.1100 A$0.1300 A$0.2000 38
5Y Revenue Exit A$0.1100 A$0.1400 A$0.2100 39
5Y EBITDA Exit A$0.2600 A$0.4400 A$0.8000 41
10Y Revenue Exit A$0.1100 A$0.1600 A$0.1900 36
10Y EBITDA Exit A$0.2000 A$0.4300 A$0.8400 37
Dividend Discount
Gordon GGM A$0.2500 A$0.4200 A$0.5500 70
DDM Multi-Stage A$0.2500 A$0.4000 A$0.4500 61
Multiples
EV/EBITDA A$0.3300 A$0.4200 A$0.5100 54
EV/Revenue A$0.1000 A$0.1200 A$0.1400 43
Asset-Based
NCAV (Graham) A$0.1500 A$0.2000 A$0.2900 50
Growth DCF
Growth DCF A$0.1100 A$0.1400 A$0.1900 80

Widest divergence: Dividend Discount (A$0.4000) versus Multiples (A$0.1200). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) A$29.0M
Revenue growth (YoY) +21.0%
Net margin -10.0%
Return on equity -19.0%
Free cash flow A$244K FY2025
Operating margin 0.4%
More key figures
EPS (TTM) A$-0.0600
Net cash A$2.7M FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 38/100

Of which business quality 40 · Market factors (momentum, volatility) 38

Profitability 31
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 18
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 38
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 0
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

ImExHS Limited offers cloud-based medical imaging solutions in Australia and internationally. The company operates in two segments: Software and Radiology.

Full company description

ImExHS Limited offers cloud-based medical imaging solutions in Australia and internationally. The company operates in two segments: Software and Radiology. It offers medical imaging software that is focused on the development and sale of modular imaging systems, which include information systems for radiology, cardiology, and pathology, as well as a picture archiving and communications system. The company's solutions include AQUILA, a radiology software solution; ALULA, a pathology software solution; and ANTEROS, a cardiology software solution. It also provides radiological diagnostic services to hospitals and medical facilities; medical images and radiologists' interpretation; reports to develop artificial intelligence (AI) tools; and outsourced radiology services, as well as teleradiology services. ImExHS Limited was incorporated in 2001 and is based in Sydney, Australia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ImExHS Limited reported revenue of A$29.0M in FY2025 versus A$13.4M in FY2021, a compound +21.3%/yr. Reported net income was −A$2.9M in FY2025.

Growth Quality 54/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
A$29.0M
Latest YoY
+9.0%
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.
+19.2%
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.
+21.6%
Avg. growth/yr (21Y) 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.
+28.8%
Revenue +21.3%/yr
FY21 A$13.4M
FY22 A$17.1M
FY23 A$19.7M
FY24 A$26.6M
FY25 A$29.0M
Net income
FY21 −A$4.7M
FY22 −A$3.0M
FY23 −A$4.2M
FY24 −A$2.6M
FY25 −A$2.9M

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Cite: Fair Value Calculator (2026). "ImExHS Limited Fair Value". https://www.fairvalue-calculator.com/stock/IME

Peer Group

Diagnostics & Research · 135 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 38 · Bottom 25%
Fair Value upside +9% · Top 25%
Return on assets -2% · Below median
Net margin (TTM) -10% · Bottom 25%
Operating margin (TTM) 0% · Below median
Revenue growth 21% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Diagnostics & Research median · lower = cheaper

P/B 0.67× · Cheaper than 75% of peers
P/S (TTM) 0.37× · Cheaper than 75% of peers
P/FCF 43.3× · Pricier 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 45 · sector 0
FUTURE 100 · sector 25
PAST 0 · sector 11
HEALTH 100 · sector 96
DIVIDEND 0 · sector 21

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 Diagnostics & Research stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Thermo Fisher Scientific Inc TMO $543.19 $308.19 -43%
Danaher Corporation DHR $199.66 $103.88 -48%
WuXi AppTec Co 2359 HK$160.70 HK$125.20 -22%
Lonza Group LONN CHF 567.80 CHF 259.80 -54%
IDEXX Laboratories, Inc IDXX $567.44 $255.77 -55%
Agilent Technologies, Inc A $131.46 $62.70 -52%
Waters Corporation WAT $368.98 $121.96 -67%
IQVIA Holdings IQV $207.85 $134.18 -35%
Integrated Diagnostics Holdings IDHC $0.0050 $0.0053 +5%
Illumina, Inc ILMN $186.65 $95.51 -49%

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Frequently asked questions

Is ImExHS Limited (IME) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of A$0.3485 versus a price of A$0.3200, about +9% (fairly valued).
What is the fair value of IME?
Our model-based fair value for ImExHS Limited is A$0.3485 (as of Jul 11, 2026), built from audited fundamentals. The current price is A$0.3200.
What is the quality score of IME?
ImExHS Limited has a Quality Score of 38/100. 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 ImExHS Limited (IME)?
ImExHS Limited reported trailing-twelve-month revenue of about A$29.0M (latest available figure, as of Jul 11, 2026).
What is the net profit margin of IME?
The net profit margin of ImExHS Limited is about -10.0%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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