This analyst simply raised his worth goal on IMAX

Roth Capital Markets analyst Eric Handler mentioned in an Oct. 14 earnings preview that IMAX  (IMAX Inventory Quote, Chart, Information, Analysts, Financials NYSE:IMAX) delivered file third-quarter world field workplace outcomes, supported by accelerating market share, sturdy local-language titles, and faster-than-expected community growth in high-revenue markets.

Handler maintained his “Purchase” ranking and raised his 12-month goal worth to US$40.00 from US$36.00, primarily based on 12.5× his 2026 EBITDA estimate.

“IMAX’s strategic initiatives helped drive file 3Q GBO outcomes and its second-highest quarterly gross ever,” Handler mentioned. “Native-language titles have been a supply of power, and community growth is happening at a faster-than-projected tempo in markets with above-average income per display.”

He expects a powerful movie slate by way of the rest of 2025, led by Avatar: Fireplace and Ash, with additional momentum into 2026 and 2027.

Handler raised his Q3 projections for world field workplace to US$360-million, up 51% 12 months over 12 months and nicely forward of his earlier US$278-million forecast. Web income and totally consolidated EBITDA estimates had been lifted to US$105-million (+17%) and a Road-high US$50-million (+29%), respectively.

GBO grew throughout all main areas, together with +29% in North America, +35% in China, and +95% internationally excluding China. In North America, IMAX achieved a file 6% market share, hovering close to an all-time excessive on a trailing-twelve-month foundation.

Handler famous that “IMAX had 4 films within the quarter exceed US$50-million in GBO, a primary for the corporate,” led by Demon Slayer: Infinity Fortress at US$72-million, adopted by F1 (US$54-million), Superman (US$54-million), and Unbelievable 4: First Steps (US$52-million).

Seven Hollywood titles posted opening-weekend market shares above 10%, and IMAX’s attraction prolonged past “Filmed for IMAX” content material, with Demon Slayer and One Battle After One other topping 18% opening-weekend shares.

Pushed by GBO power and a secure price base, Handler forecasts content-solutions gross margin of 70%, up from 54.6% a 12 months earlier, with whole EBITDA margin at 47.8%, among the many highest in firm historical past.

Trying to This fall 2025, he expects GBO of US$338-million (+66%), internet income of US$127-million (+37%), and EBITDA of US$57-million (+52%), supported by Avatar: Fireplace and Ash and titles comparable to Tron: Ares, The Working Man, Depraved: For Good, and Zootopia 2. He tasks Avatar: Fireplace and Ash alone will generate US$167-million in IMAX GBO, surpassing Avatar: The Manner of Water’s US$151-million in 4Q22.

Handler mentioned IMAX ought to produce Adjusted EBITDA of US$182.4-million (prior est. US$172.0-million) on income of US$410.0-million (prior US$400.4-million) in fiscal 2025, bettering to US$201.3-million (prior US$187.8-million) on income of US$443.4-million (prior US$428.4-million) in fiscal 2026.

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