IMAX vs Lionsgate Studios
Lionsgate Studios reported revenue of $2.6 billion in fiscal 2026, 6.4 times IMAX's $410 million in fiscal 2025. IMAX's revenue grew 16.5% in its latest year, and Lionsgate Studios' grew 1.8%. IMAX had an operating margin of 20.5%, against 3.7% at Lionsgate Studios. Free cash flow was $119 million at IMAX and $11 million at Lionsgate Studios. Their fiscal years end in different months (December 31 and March 31), so the periods don't line up exactly.
Side by side
| IMAX | Lionsgate Studios | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2026, Mar 31, 2026 |
| Revenue | $410M | $2.6B |
| Revenue growth | 16.5% | 1.8% |
| Revenue growth a year, last 5 years | 24.5% | — |
| Gross margin | 60.0% | — |
| Operating margin | 20.5% | 3.7% |
| Net margin | 8.5% | −7.5% |
| Free cash flow | $119M | $11M |
| Free cash flow margin | 29.0% | 0.4% |
| Return on capital | — | 8.3% |
| Net debt to EBITDA | — | 13.9x |
| Dividends and buybacks | $0M | $0M |
| Change in diluted share count | 3.1% | 14.7% |
| Last close | $52.08 | $12.14 |
| P/E at the last close | 72.3× | — |
| Insider trades, last 12 months | sold $74.7 million | sold $2.0 million |
| Piotroski F-score | — | 5 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
IMAXLionsgate Studios
Operating margin
Percent of revenue
IMAXLionsgate Studios
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
IMAXLionsgate Studios
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the IMAX and Lionsgate Studios pages.