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1. Company Snapshot

1.a. Company Description

Impax Environmental Markets plc is a closed ended equity mutual fund launched and managed by Impax Asset Management (AIFM) Limited.The fund invests in public equity markets across the globe.It seeks to invest in stocks of companies which provide, utilize, implement or advise upon technology-based systems, products or services in environmental markets, particularly of those in the alternative energy and energy efficiency, water treatment and pollution control, and waste technology and resource management sectors.


The fund invests in growth stocks of companies across all market capitalizations.It employs fundamental analysis to create its portfolio.The fund benchmarks the performance of its portfolio against the MSCI AC World Index and the FTSE ET100 Index.


Impax Environmental Markets plc was formed on February 22, 2002 and is domiciled in the United Kingdom.

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1.b. Last Insights on IEM

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1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Barclays (LSE:BARC): Evaluating the Valuation Picture After Strong Share Price Gains

Sep -09

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Angle PLC Announces Change of Adviser

Sep -09

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Should You Be Adding Compagnie Financière Tradition (VTX:CFT) To Your Watchlist Today?

Dec -03

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.20%)

6. Segments

Investment and Related Activities

Expected Growth: 10.2%

Growing demand for renewable energy, increasing concerns over climate change, and stringent regulations driving adoption of environmental solutions, such as water treatment and waste management, are expected to fuel growth in the environmental solutions sector.

7. Detailed Products

Carbon Credits

Impax Environmental Markets plc offers carbon credits, which are certificates representing the right to emit a certain amount of greenhouse gases. These credits are traded on the carbon market, allowing companies to offset their emissions and meet regulatory requirements.

Renewable Energy Certificates (RECs)

Impax Environmental Markets plc provides Renewable Energy Certificates (RECs), which represent the environmental attributes of one megawatt-hour of renewable energy. RECs are used to track and verify the generation of renewable energy.

Sustainable Infrastructure Investments

Impax Environmental Markets plc offers investment opportunities in sustainable infrastructure projects, such as wind farms, solar parks, and hydroelectric power plants. These investments support the transition to a low-carbon economy.

Environmental Commodities Trading

Impax Environmental Markets plc facilitates the trading of environmental commodities, including carbon credits, RECs, and other environmental attributes. This enables companies to manage their environmental risks and opportunities.

Sustainable Forestry Investments

Impax Environmental Markets plc offers investment opportunities in sustainable forestry projects, which promote responsible land use, biodiversity conservation, and carbon sequestration.

8. Impax Environmental Markets plc's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Impax Environmental Markets plc is moderate, as there are some alternative investment options available in the market, but they are not highly attractive.

Bargaining Power Of Customers

The bargaining power of customers for Impax Environmental Markets plc is low, as the company's investment products are diversified and customers have limited bargaining power.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Impax Environmental Markets plc is moderate, as the company relies on a diverse range of suppliers for its investment products.

Threat Of New Entrants

The threat of new entrants for Impax Environmental Markets plc is high, as the investment management industry is highly competitive and new entrants can easily enter the market.

Intensity Of Rivalry

The intensity of rivalry for Impax Environmental Markets plc is high, as the company operates in a highly competitive industry with many established players.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 6.65%
Debt Cost 3.95%
Equity Weight 93.35%
Equity Cost 7.99%
WACC 7.72%
Leverage 7.12%

11. Quality Control: Impax Environmental Markets plc passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
ABC arbitrage

A-Score: 7.6/10

Value: 6.1

Growth: 3.4

Quality: 8.9

Yield: 8.8

Momentum: 9.0

Volatility: 9.3

1-Year Total Return ->

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Stock-Card
City of London Investment

A-Score: 6.6/10

Value: 6.4

Growth: 3.7

Quality: 9.1

Yield: 10.0

Momentum: 5.5

Volatility: 4.7

1-Year Total Return ->

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Stock-Card
Impax Asset Management

A-Score: 5.6/10

Value: 7.3

Growth: 7.1

Quality: 8.8

Yield: 8.1

Momentum: 0.5

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
Impax Environmental Markets

A-Score: 5.5/10

Value: 7.4

Growth: 2.9

Quality: 6.4

Yield: 1.2

Momentum: 5.0

Volatility: 10.0

1-Year Total Return ->

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Stock-Card
eQ

A-Score: 5.3/10

Value: 2.1

Growth: 3.6

Quality: 9.4

Yield: 8.1

Momentum: 2.5

Volatility: 6.0

1-Year Total Return ->

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Stock-Card
Ashmore

A-Score: 5.1/10

Value: 3.0

Growth: 1.2

Quality: 8.4

Yield: 10.0

Momentum: 2.5

Volatility: 5.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

4.05$

Current Price

4.05$

Potential

-0.00%

Expected Cash-Flows