Imaflex Inc V.IFX

Alternate Symbol(s): IFLXF

Forest Products Paper & Paper Products

Imaflex Inc. is focused on the development and manufacturing of solutions for the flexible packaging space. The Company develops and manufactures films for the agriculture industry. Its products consist primarily of polyethylene (plastic) film and bags, including metalized plastic film, for the industrial, agricultural and consumer markets. Its flexible packaging products are used to protect and preserve the integrity of products and consist primarily of polyethylene (plastic) films and bags, and metalized films. Its polyethylene films are mainly sold to printers known as converters, who process the film into a finished product to meet their end-customer needs. Additionally, its films are sold directly to customers to protect and market their own products or bought by distributors for re-sale. Its agricultural films are finished products, predominantly sold directly by the Company to growers. They are available in a variety of formats and include both metalized and non-metalized films.

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Imaflex Inc

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Post by Possibleidiot01on Nov 27, 2023 6:24pm

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Trevor Rose's Insights - DON'T BUY

DON'T BUY

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research

IFX has seen revenues decline over the last 12 months, down -18.8% to $96.1M. The balance sheet is not as strong as earlier in the year with net debt rising to $7M and cash declining from prior periods to $3M. Cash from operations as well as free cash flow are positive in the last twelve months, however, in Q2 both of these came in negative. Net income in Q2 came in a bit above $400K which was a significant year-over-year decline from $3.4M. IFX's share price is down -33% year-to-date but still has a cheap valuation at 12x forward earnings. IFX is facing a slowdown due to small-cap pressures and management has tied the weak first half of 2023 to economic headwinds, customer destocking, and a competitive pricing environment. Management remains optimistic for the second half of the year, but being such a small company, future outlook is uncertain. It has one analyst, who does expect higher earnings next year. But we would consider it too risky for a general investor.
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packaging / containers

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