Imperial Oil Ltd. (IMO) intrinsic value & 10-year financials
Imperial Oil Ltd. (IMO) has a Graham intrinsic value of CAD 169.62 per share. Over the last 10 fiscal years revenue grew 36.6% a year to CAD 38.7B, with an average return on invested capital of 11.0%.
- Graham intrinsic value
- CAD 169.62
- Revenue (FY2025)
- CAD 38.7B
- Revenue growth (10-yr CAGR)
- 36.6%
- ROIC (10-yr avg)
- 11.0%
- Free cash flow (FY2025)
- CAD 4.7B
IMO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | CAD 38.7B | CAD 3.3B | CAD 6.48 | CAD 4.7B | — | 12.7% |
| FY2024 | CAD 40.9B | CAD 4.8B | CAD 9.03 | CAD 4.1B | — | 18.5% |
| FY2023 | CAD 44.5B | CAD 4.9B | CAD 8.49 | CAD 1.9B | — | 20.3% |
| FY2022 | CAD 52.3B | CAD 7.3B | CAD 11.44 | CAD 9.0B | — | 31.0% |
| FY2021 | CAD 34.3B | CAD 2.5B | CAD 3.48 | CAD 4.4B | — | 9.9% |
| FY2020 | CAD 22.2B | -CAD 1.9B | -CAD 2.53 | -CAD 70.0M | — | -7.0% |
| FY2019 | CAD 8.6B | CAD 2.2B | CAD 2.88 | CAD 2.8B | — | 7.9% |
| FY2018 | CAD 6.4B | CAD 2.3B | CAD 2.86 | CAD 2.4B | — | 8.2% |
| FY2017 | CAD 4.1B | CAD 490.0M | CAD 0.58 | CAD 1.8B | — | 1.7% |
| FY2016 | CAD 2.3B | CAD 2.2B | CAD 2.55 | CAD 942.0M | — | 7.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in CAD.
Executive summary
IMPERIAL OIL LTD is a consistent compounder, expanding top-line revenue at 36.6% annually over the past decade.
IMPERIAL OIL LTD returns on capital have been average, hovering around 11.0% ROIC over the decade.
Over the decade, IMPERIAL OIL LTD shows that management has aggressively returned capital to shareholders by retiring 40.7% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, IMPERIAL OIL LTD is modeled at 10.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $169.62 per share.