Imax (IMAX) financial statements
Imax reported revenue of $410M in fiscal 2025, up 0.9% a year over 9 years.
Net income was $35M and the operating margin 20.5%, against 15.5% in 2016.
Free cash flow was $119M.
The diluted share count fell 19% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Imax's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $377M | $381M | $374M | $396M | $137M | $255M | $301M | $375M | $352M | $410M |
| Cost of revenue | $175M | $196M | $166M | $181M | $115M | $120M | $144M | $160M | $162M | $164M |
| Gross profit | $203M | $185M | $208M | $214M | $22M | $134M | $156M | $214M | $190M | $246M |
| Research and development | $16M | $21M | $14M | $5M | $6M | $7M | $5M | $10M | $5M | $6M |
| Selling, general and admin | — | — | — | — | $108M | $117M | $138M | $144M | $133M | $138M |
| Operating income | $59M | $31M | $45M | $77M | -$122M | $11M | -$5M | $50M | $44M | $84M |
| Interest expense | $2M | $2M | $3M | $3M | $7M | $7M | $6M | $7M | $8M | $7M |
| Pre-tax income | $58M | $30M | $44M | $75M | -$129M | $11M | -$10M | $46M | $38M | $63M |
| Income tax | $16M | $17M | $10M | $17M | $27M | $21M | $10M | $13M | $5M | $18M |
| Net income | $29M | $2M | $23M | $47M | -$144M | -$22M | -$23M | $25M | $26M | $35M |
| EPS (diluted) | $0.42 | $0.04 | $0.36 | $0.76 | -$2.43 | -$0.38 | -$0.40 | $0.46 | $0.48 | $0.63 |
| Diluted shares | 68M | 66M | 63M | 61M | 59M | 59M | 57M | 55M | 54M | 56M |
| Gross margin | 53.7% | 48.7% | 55.5% | 54.1% | 15.7% | 52.7% | 52.0% | 57.2% | 54.0% | 60.0% |
| Operating margin | 15.5% | 8.3% | 12.1% | 19.5% | -88.9% | 4.3% | -1.6% | 13.4% | 12.5% | 20.5% |
| Net margin | 7.6% | 0.6% | 6.1% | 11.8% | -104.9% | -8.8% | -7.6% | 6.8% | 7.4% | 8.5% |
Balance sheet
Fiscal years, from Imax's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $205M | $159M | $142M | $109M | $317M | $190M | $97M | $76M | $101M | $151M |
| Receivables | $96M | $131M | $93M | $100M | $56M | $110M | $136M | $136M | $108M | $108M |
| Inventory | $42M | $31M | $45M | $43M | $40M | $27M | $32M | $32M | $33M | $33M |
| Property, plant and equipment | $245M | $277M | $281M | $307M | $277M | $260M | $253M | $243M | $240M | $243M |
| Goodwill | $39M | $39M | $39M | $39M | $39M | $39M | $53M | $53M | $53M | $46M |
| Total assets | $857M | $867M | $874M | $889M | $998M | $883M | $821M | $815M | $830M | $894M |
| Long-term debt | — | — | — | — | — | — | $36M | $23M | $36M | $35M |
| Total liabilities | $231M | $263M | $274M | $246M | $533M | $453M | $491M | $469M | $452M | $466M |
| Shareholders' equity | $562M | $528M | $512M | $548M | $394M | $356M | $263M | $273M | $299M | $338M |
| Net debt | -$205M | -$159M | -$142M | -$109M | -$317M | -$190M | -$61M | -$53M | -$64M | -$117M |
Cash flow
Fiscal years, from Imax's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $78M | $85M | $110M | $90M | -$23M | $6M | $17M | $59M | $71M | $127M |
| Capital spending | $15M | $24M | $13M | $7M | $697,000 | $4M | $8M | $6M | $8M | $8M |
| Free cash flow | $63M | $61M | $97M | $83M | -$24M | $2M | $9M | $52M | $62M | $119M |
| Stock-based compensation | $30M | $23M | $23M | $23M | $22M | $26M | $27M | $24M | $23M | $27M |
| Share buybacks (net) | $0 | -$46M | -$71M | -$3M | -$37M | -$14M | — | — | — | — |
| Free cash flow margin | 16.6% | 16.1% | 25.8% | 21.0% | -17.3% | 1.0% | 3.0% | 13.9% | 17.7% | 29.0% |
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Open IMAX in InvestinglyQuestions
What was Imax's revenue in 2025?
$410M in fiscal 2025, from its 10-K filing.
How much free cash flow does Imax generate?
$119M in fiscal 2025 (operating cash flow minus capital spending).
From Imax's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.