Inpex Corporation (IPXHF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Inpex Corporation $30.10, price $24.15, upside +24.6%, quality 68 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 28, 2026.
How to read this chart
60‑month range $3.15 – $30.00 · fair‑value band $22.58 – $37.63 · the $24.15 price screens below the $30.10 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 28, 2026.
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Inpex Corporation engages in the research, exploration, development, production, and sale of oil, natural gas, and other mineral resources in Japan and internationally. It is involved in investment and lending to companies engaged in mineral resources business.
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Inpex Corporation engages in the research, exploration, development, production, and sale of oil, natural gas, and other mineral resources in Japan and internationally. It is involved in investment and lending to companies engaged in mineral resources business. The company also transports natural gas, as well as oil; operates, manages, and maintains gas pipelines. In addition, it engages in gas, heat, and electricity supply business; manufacture, processing, and sale of drilling mud water conditioners and cement additives; development and management of geothermal projects; power generation and supply; real estate management, lease, brokerage, and sales; and contracting for excavation work of oil and geothermal wells, and diameter foundation works. The company was formerly known as Inpex Holdings, Inc. Inpex Corporation was founded in 1966 and is headquartered in Minato, Japan.
Stock analysis
Inpex Corporation (IPXHF) currently trades at $24.15, while our model-based Fair Value estimate is $30.10, implying the stock looks roughly 19.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $45.11 per share, and 18 of the 24 models we run sit above the $24.15 price.
Bear case: the Earnings-Based group reads lowest at $15.11, and 6 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: $22.58 (bear) to $37.63 (bull), the price of $24.15 sits inside 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 68/100 (solid quality), in the Energy sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Inpex Corporation reported revenue of ¥2.0T in FY2025 versus ¥1.2T in FY2021, a compound +12.8%/yr. Reported net income was ¥394B in FY2025, compounding +15.3%/yr from FY2021.
Key figures
Market cap $28.8B · P/E ratio 11.7 · P/S ratio 2.28 · EPS (TTM) $2.07 · Dividend yield 3.5% · Net margin 19.6% · Return on equity 8.3% · Return on assets (EBIT) 15.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 59% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at 10% fair-value upside, at 25%, IPXHF screens cheaper than that median.
Fair Value models
Bear $22.58Fair Value $30.10Bull $37.63
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−11.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−4.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.2%
Start year 2020 (pandemic). Over 10 years: +7.1% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.1%
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What shareholders gained per year (last 5 years), in JPY ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in JPY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+20.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+16.5%
Dividend (yield on the price)3.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.16.5% vs 26.5%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.32% → 50%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−7.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+1.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about −9.7% a year for the price and −0.6% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (48 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
Price, fair value, quality and upside side by side.
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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.Oil & Gas E&P · 284 stocks
Beats the industry median on 13/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside+36.8% · Top 25%
Profitability
Return on equity (TTM)8.3% · Above median
Return on assets8.4% · Top 25%
Net margin (TTM)19.1% · Above median
Operating margin (TTM)48.6% · Top 25%
Growth and dividend
Revenue growth−6.5% · Below median
Dividend yield (TTM)3.5% · Above median
Balance sheet
Debt / equity0.15× · Below median
Valuation Multiplesvs Oil & Gas E&P median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Inpex Corporation Fair Value". https://www.fairvalue-calculator.com/stock/IPXHF
Frequently asked questions
Is Inpex Corporation (IPXHF) overvalued or undervalued?
As of Sep 28, 2026, our model estimates a fair value of $30.10 versus a price of $24.15, about +25% upside (undervalued).
What is the fair value of IPXHF?
Our model-based fair value for Inpex Corporation is $30.10 (as of Sep 28, 2026), built from audited fundamentals. The current price: $24.15.
What is the quality score of IPXHF?
Inpex Corporation has a Quality Score of 68/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Inpex Corporation (IPXHF)?
Our model-based price target is the fair value of $30.10 (as of Sep 28, 2026) from 24 valuation models. Cautious scenario $22.58, optimistic scenario $37.63. It is a calculation from audited fundamentals, not an analyst target.
What is the Inpex Corporation stock forecast for 2026?
Our models put fair value at $30.10, about +25% upside versus a price of $24.15 (undervalued). Cautious scenario $22.58, optimistic scenario $37.63. The calculation is refreshed regularly with new filings.
What is the revenue of Inpex Corporation (IPXHF)?
Inpex Corporation reported trailing-twelve-month revenue of about ¥2.0T (latest available figure, as of Sep 28, 2026).
Does Inpex Corporation pay a dividend?
Inpex Corporation currently shows a dividend yield of about 3.54% relative to its recent price (as of Sep 28, 2026).
What growth is priced into Inpex Corporation (IPXHF)?
For today's price to be fair in a discounted-cash-flow model, Inpex Corporation would have to grow free cash flow by -7.8 % per year for five years (discount rate 9.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +21.2 % per year. As of Sep 28, 2026.
What discount rate (WACC) does the fair value of IPXHF use?
Our models discount Inpex Corporation at 9.2 %: a base by market capitalisation (large), country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Inpex Corporation that is -7.8 % per year a year over ten years, using the same discount rate (9.2 %) and the same formula as our fair value.
How much growth has Inpex Corporation (IPXHF) delivered so far?
Over the past 5 years revenue at Inpex Corporation grew +21.2 % a year. The price currently implies -7.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Inpex Corporation (IPXHF) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Inpex Corporation (-7.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Inpex Corporation (IPXHF)?
The free-cash-flow yield on the price is 15.24 %: that much free cash flow Inpex Corporation produces per unit of market value. When it exceeds the discount rate of our models (9.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Inpex Corporation (IPXHF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Inpex Corporation it is $30.10 per share (as of Sep 28, 2026), against a price of $24.15. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Inpex Corporation stock overvalued or undervalued in 2026?
As of Sep 28, 2026, IPXHF trades below its calculated fair value: price $24.15, fair value $30.10, a gap of about +25% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of IPXHF?
No. The price is what the market pays today ($24.15); the fair value is what the company's own numbers justify ($30.10). For Inpex Corporation the two are $5.95 per share apart. That gap is exactly why we show both numbers side by side.
How much is Inpex Corporation worth?
The market values Inpex Corporation at about $28.8B (market capitalisation, as of Sep 28, 2026). Per share that is $24.15; our models calculate a fair value of $30.10 per share.
What do the bullish and bearish scenarios say about IPXHF?
Our models span a range for Inpex Corporation: cautious scenario $22.58, base $30.10, optimistic $37.63 per share (as of Sep 28, 2026, price $24.15). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IPXHF?
Inpex Corporation trades at a price-to-earnings ratio of 11.7 (as of Sep 28, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $30.10 is built from several models across several years. Other multiples: P/B 1.0, P/S 2.3, EV/EBITDA 3.7.
How solid is the balance sheet of Inpex Corporation (IPXHF)?
Balance-sheet figures for Inpex Corporation (as of Sep 28, 2026): return on equity 8.3%, debt of 0.15 per unit of equity. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is IPXHF from its 52-week high?
Inpex Corporation trades at $24.15, about 20% below its 52-week high of $30.00 and 59% above the low of $15.16 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $30.10 is for.
Which stocks are comparable to Inpex Corporation?
From the same area (Energy) we also value ConocoPhillips explores for,, CNOOC Limited, Canadian Natural Resources Limited, EOG Resources, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Inpex Corporation stock attractive at the current price?
The data as of Sep 28, 2026: price $24.15, calculated fair value $30.10 (+25%), Quality Score 68/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of IPXHF calculated?
We run Inpex Corporation through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $30.10, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Inpex Corporation currently trades 20 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Inpex Corporation (IPXHF)?
The closing price on Oct 2, 2026 was $24.15. Our model-based fair value is $30.10, about +25% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Inpex Corporation right now?
Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Inpex Corporation
How large is the market capitalisation of Inpex Corporation (IPXHF)?
The market capitalisation of Inpex Corporation is $28.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Inpex Corporation (IPXHF)?
The price-to-sales ratio of Inpex Corporation is 2.28 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Inpex Corporation (IPXHF)?
Earnings per share at Inpex Corporation are $2.07 (price ÷ EPS = P/E 11.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Inpex Corporation (IPXHF)?
The dividend yield of Inpex Corporation is 3.5% (payout 41.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Inpex Corporation (IPXHF)?
The net margin of Inpex Corporation is 19.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Inpex Corporation (IPXHF)?
The return on equity (ROE) of Inpex Corporation is 8.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Inpex Corporation (IPXHF)?
On an EBIT basis the return on assets of Inpex Corporation is 15.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Inpex Corporation (IPXHF)?
The operating margin of Inpex Corporation is 48.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Inpex Corporation (IPXHF)?
Revenue at Inpex Corporation is growing −6.5% versus a year earlier (3y avg −4.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Inpex Corporation (IPXHF)?
Earnings per share at Inpex Corporation are growing −10.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Inpex Corporation (IPXHF) carry?
The net debt of Inpex Corporation is ¥1.1T (fiscal year 2025, ≈ 1.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Sep 28, 2026