The stock had a decent year in 2024, up more than 50%. The movie slate was decent. With net debt of about $200M, it is still fairly leveraged at 3X+ debt/cash flow. 10% EPS growth is expected in 2025. Trading at 21X earnings, it is not really cheap based on prospects. But the last quarter showed a big earnings beat. There has been some insider selling but insiders still own 18%. The 2025 movie slate also looks pretty good at this point, and 're-releases' of films such as Interstellar are showing to be successful on Imax screens. Overall, we would consider the stock to be decent enough, but not overly exciting. We would still like to see lower leverage. The shares have doubled+ since Covid but are still less than half the level they were at 10 years ago.
5i Research Answer: