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International Public Partnerships Limited (INPP) Fair Value & Analysis

Financial Services · GB · Market cap 2.5B GBX

IP International Public Partnerships Limited INPP · LSE
Price£1.41
Fair Value£2.15
Upside+52.3%
Quality81/100
Healthy Growth
Highly profitable · 88.7% net margin
Low debt · generates free cash flow
6.10% dividend yield
Ranks above peers (10/14)
Wide moat 70/100
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Evidence: High Range £1.61 – £2.68 Share as image

Fair value as of: Jul 19, 2026

From 25 valuation models · updated 11 days ago

Share price +1.9% over the past month.

What matters now

  • The rarer combination: high quality (81/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (£1.61). The market is more pessimistic than our downside scenario.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (12 months)

£1.41 £1.11 Fair Value £2.15 Jul 2025 Jul 2026

12‑month range £1.11 – £1.41 · fair‑value band £1.61 – £2.68 · the £1.41 price screens below the £2.15 fair value. As of Jul 19, 2026.

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Analysis

International Public Partnerships Limited (INPP) currently trades at £1.41, while our model-based Fair Value estimate is £2.15, implying the stock looks roughly 52.3% undervalued today. We read business quality at 81/100 (high quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, International Public Partnerships Limited generated revenue of £297M at a net margin of 88.7%. It earns a return on equity of 9.7%. The balance sheet holds a net cash position of £54.5M. The stock trades on a trailing P/E of 9.7. Fundamentals as of Jul 19, 2026

Our scenario range runs from £1.61 (bear case) to £2.68 (bull case); at £1.41, the current price sits below that range. For context, the median of 10 Financial Services peers we cover trades at -35% fair-value upside, at 52%, INPP screens cheaper than that median.

Key figures & financial health

Revenue (TTM) 297M GBX
Revenue growth (YoY) +20,519%
Net margin 88.7%
Return on equity 9.7%
Free cash flow 161M GBX FY2025
P/E ratio 9.7
More key figures
Operating margin 88.9%
EPS (TTM) £0.1400
Dividend yield 6.4%
EPS growth (YoY) +777%
Net cash 54.5M GBX FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 81/100
Profitability 45
Quality Growth 86
Cashflow 77
Fin. Strength 77
Investment 100
Low Volatility 100
Momentum 59
52W Momentum 79
Net Issuance 90

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

International Public Partnerships Limited specializes in investments in broader infrastructure sector with a focus on public or social infrastructure. The fund seeks acquisition opportunities that may be single assets, portfolios, shares in companies, or interest in partnerships.

Full company description

International Public Partnerships Limited specializes in investments in broader infrastructure sector with a focus on public or social infrastructure. The fund seeks acquisition opportunities that may be single assets, portfolios, shares in companies, or interest in partnerships. It also seeks to invest in private finance initiative and public private partnerships procurement model for public infrastructure in developed countries. The firm invests in opportunities both in United Kingdom and internationally.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

International Public Partnerships Limited reported revenue of £271M in FY2025 versus £132M in FY2021, a compound +19.7%/yr. Reported net income was £264M in FY2025, compounding +19.5%/yr from FY2021.

Revenue +19.7%/yr
FY21 £132M
FY22 £330M
FY23 £66.1M
FY24 £37.2M
FY25 £271M
Net income +19.5%/yr
FY21 £129M
FY22 £327M
FY23 £27.9M
FY24 £465K
FY25 £264M

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Cite: Fair Value Calculator (2026). "International Public Partnerships Limited Fair Value". https://www.fairvalue-calculator.com/stock/INPP.LSE

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 / 35
FUTURE 100 / 8
PAST 39 / 25
HEALTH 100 / 95
DIVIDEND 100 / 69

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

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Fondul Proprietatea SA FP $4.20 $6.41 +53%
The Schiehallion Fund Limited MNTN $2.27 $4.54 +100%
BlackRock, Inc UU2 €870.00 €558.00 -36%
Blackstone Inc BX $118.48 $55.81 -53%
Investor AB INVEB kr 393.75 kr 1,417 +260%
Brookfield Corporation BN $44.44 $5.89 -87%
KKR & Co KKR $95.02 $23.06 -76%
Brookfield Asset Management Ltd BAM C$63.81 C$41.56 -35%
State Street Corporation S1TT34 R$750.19 R$1,029 +37%
EQT AB EQT kr 294.10 kr 67.55 -77%

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Frequently asked questions

Is International Public Partnerships Limited (INPP) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of £2.15 versus a price of £1.41, about +52% (undervalued).
What is the fair value of INPP?
Our model-based fair value for International Public Partnerships Limited is £2.15 (as of Jul 19, 2026), built from audited fundamentals. The current price is £1.41.
What is the quality score of INPP?
International Public Partnerships Limited has a Quality Score of 81/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of International Public Partnerships Limited (INPP)?
International Public Partnerships Limited reported trailing-twelve-month revenue of about £297M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of INPP?
The net profit margin of International Public Partnerships Limited is about 88.7%, meaning it keeps roughly 88.7% of revenue as net income. Based on the latest reported figures.
Does International Public Partnerships Limited pay a dividend?
International Public Partnerships Limited currently shows a dividend yield of about 6.40% relative to its recent price (as of Jul 19, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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