IHI Corp (IHICY) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of IHI Corp $9.91, price $18.10, upside -45.3%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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IHI Corp
IHICY · USStretched ValuationStrong overvaluation with only moderate quality.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $1.33 – $29.14 · fair‑value band $6.39 – $15.25 · the $18.10 price screens above the $9.91 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Company profile
IHI Corporation designs and builds engineering solutions in Japan and internationally. The company operates through four segments: Resources, Energy and Environment; Social Infrastructure; Industrial Systems and General-Purpose Machinery; and Aero Engine, Space and Defense.
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IHI Corporation designs and builds engineering solutions in Japan and internationally. The company operates through four segments: Resources, Energy and Environment; Social Infrastructure; Industrial Systems and General-Purpose Machinery; and Aero Engine, Space and Defense. The company engages in the manufacturing, sale, and provision of services related to power systems plants for land use and power systems for ships; carbon solutions comprising boilers and storage facilities; components for nuclear power plants; bridges and water gates, transport systems, shield systems, and concrete construction materials; vehicular turbochargers, parking, heat treatment and surface engineering; transport machineries; logistics and industrial systems; and rotating machineries comprising compressors, separation systems, and turbochargers for ships. It also offers gas turbine power generation systems, co-generation systems, medium sized engines, gas engine power generation systems, propulsion units, and fuel injection equipment; LNG receiving terminal; pressure vessels, furnaces, cooling towers, vertical mills, air-cooled heat exchangers, chimneys, and water treatment plants; and cryogenic product, material handling system, steelmaking equipment, pulp & paper machinery, agricultural machinery, and life associated equipment. In addition, the company provides aero engines; rocket, space utilization, defense, and traffic control systems; and communication, electronic, electric measuring, information processing machines, and other instruments and equipment, as well as sells and rents real estate. The company was formerly known as Ishikawajima-Harima Heavy Industries Co., Ltd and changed its name to IHI Corporation in 2007. IHI Corporation was founded in 1853 and is headquartered in Tokyo, Japan.
Stock analysis
IHI Corp ADR (IHICY) currently trades at $18.10, while our model-based Fair Value estimate is $9.91, implying the stock looks roughly 82.6% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $17.33 per share, and 1 of the 23 models we run sit above the $18.10 price.
Bear case: the Asset-Based group reads lowest at $2.62, and 22 of the 23 models stay below the price. Evidence for this calculation is high.
Scenario range: $6.39 (bear) to $15.25 (bull), the price of $18.10 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
IHI Corp ADR reported revenue of ¥1.7T in FY2026 versus ¥1.2T in FY2022, a compound +10.4%/yr. Reported net income was ¥171B in FY2026, compounding +26.8%/yr from FY2022.
Key figures
Market cap $19.2B · P/E ratio 19.1 · P/S ratio 1.87 · EPS (TTM) $0.9500 · Dividend yield 0.7% · Net margin 9.8% · Return on equity 27.8% · Return on assets (EBIT) 3.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 53 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −50% fair-value upside, at −45%, IHICY screens cheaper than that median.
Fair Value models
All 23 models by family
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Set up alert →Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 38
Revenue & earnings trend
Growth Forecast
IHICY screens 83% overvalued. Compare with GE Vernova Inc →
Compare IHI Corp ADR with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Industrial Machinery · 826 stocks
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| GE Vernova Inc GEV | $950.28 | $194.25 | −80% |
| SIE SIE | €273.85 | €150.21 | −45% |
| Eaton Corporation ETN | $442.49 | $172.75 | −61% |
| Parker-Hannifin Corporation PH | $964.85 | $418.76 | −57% |
| Cummins Inc CMI | $526.13 | $359.38 | −32% |
| Illinois Tool Works Inc ITW | $270.47 | $151.39 | −44% |
| Emerson Electric Co EMR | $154.19 | $62.15 | −60% |
| AMETEK, Inc AME | $245.41 | $125.80 | −49% |
| Rockwell Automation, Inc ROK | $427.19 | $138.24 | −68% |
| Sandvik AB SAND | kr 383.50 | kr 193.39 | −50% |
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Frequently asked questions
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Key figures of IHI Corp ADR
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