Added to YB: 2026-03-20
Pitch date: 2026-01-22
IMI.L [bullish]
IMI plc
-4.41%
current return
Author Info
No bio for this author
Company Info
IMI plc, an engineering company, designs, manufactures, and services engineering products in the United Kingdom, Germany, rest of Europe, the United States, rest of the Americas, China, rest of the Asia Pacific, the Middle East, and Africa.
Market Cap
GBP 6.6B
Pitch Price
GBP 27.24
Price Target
32.00 (+23%)
Dividend
1.27%
EV/EBITDA
13.29
P/E
21.68
EV/Sales
3.08
Sector
Machinery
Category
value
IMI plc - $IMI.L
IMI.L: UK industrial diversifying into higher-margin aftermarket (60% of Process Auto, up 10%+). CEO Roy Twite hit 20% EBIT target, guiding 22% by '27 w/ 30% incrementals & >£350M FCF. 40% portfolio (IA/LS/Transport) at trough; rebound + German stimulus = upside to incrementals. £500M buyback capacity post-marine sale at 15x EBIT. At 5.2% FCF yield vs peers 4.8%, fair value £32 (22% upside). Takeout potential (KKR/PH) at mid-teens EBITDA = low/mid-£30s.
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