INPEX (1605) AI Stock Analysis

• Market Cap: $3.94T
• Dividend Yield: 2.93%
• Average Volume (3M): 4.58M
• Price to Earnings (P/E): 9.2
• Beta (1Y): 0.86
• Revenue Growth: -11.79%
• EPS Growth: 18.12%
• Country: JP
• Employees: 3,679
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): 58.72
• Shares Outstanding: 1,259,136,100
• 10 Day Avg. Volume: 5,382,960
• 30 Day Avg. Volume: 4,581,243
• PEG Ratio: 0.15
• Price to Book (P/B): 0.51
• Price to Sales (P/S): 1.08
• P/FCF Ratio: 6.90
• Enterprise Value/Market Cap: 1.11
• Enterprise Value/Revenue: 2.05
• Enterprise Value/Gross Profit: 3.48
• Enterprise Value/Ebitda: 2.90
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 311.74
• Revenue Forecast (FY): $2.00T

• Rating: 79 Outperform
• Price Target: ¥3,635.00 ▲(14.56% Upside)

INPEX's strong financial performance and positive earnings call outlook are the most significant factors driving the stock score. The technical analysis suggests strong momentum, though caution is advised due to overbought signals. Valuation metrics further support the stock's attractiveness, with a low P/E ratio and solid dividend yield.

Positive Factors

Stable Operations at Ichthys LNG

Stable operations at Ichthys LNG ensure consistent revenue streams and strengthen INPEX's position in the global LNG market.

Profit Booster 500 Initiative

The Profit Booster 500 initiative aims to significantly increase profitability, leveraging foreign exchange gains and investment incentives.

Abadi LNG Project Progress

Progress in the Abadi LNG project indicates potential for future growth and market expansion in Asia, enhancing INPEX's long-term prospects.

Negative Factors

Volatile Oil Prices and FX Rates

Volatile oil prices and FX rates can affect profitability, introducing uncertainty in revenue projections and financial planning.

Uncertainties in Abadi Project Costs

Cost uncertainties in the Abadi project may affect expected returns, necessitating careful management and negotiations with stakeholders.

Reduced Revenue from Oil and Gas

Declining oil and gas prices reduce revenue, impacting financial performance and requiring strategic adjustments to maintain profitability.

INPEX Business Overview & Revenue Model

Company Description

Inpex Corporation engages in the research, exploration, development, production, and sale of oil, natural gas, and other mineral resources in Japan, rest of Asia and Oceania, Europe and NIS countries, the Middle East and Africa, and the Americas. It is also involved in the investment and lending to the companies engaged in mineral resources business, etc. In addition, the company transports natural gas, as well as operates, manages, and maintains gas pipelines. As of December 31, 2021, its proved reserves were 2,704 million barrels for crude oil, condensate, and LPG; and 5,118 billion cubic feet for natural gas, for a total of 3,645 million BOE. Inpex Corporation was founded in 1966 and is headquartered in Tokyo, Japan.

How the Company Makes Money

INPEX generates revenue primarily through the exploration and production of crude oil and natural gas. The company earns money by selling the hydrocarbons it extracts from its various projects, both on the spot market and through long-term contracts. Key revenue streams include production sharing contracts, joint ventures, and equity interests in oil and gas fields. In addition, INPEX benefits from partnerships with other energy companies and national governments, which can provide access to new resources and markets. The company's financial performance is influenced by global oil and gas prices, production levels, and operational efficiency. Significant projects, such as the Ichthys LNG project in Australia, also contribute substantially to the company's earnings by providing liquefied natural gas to international markets.

INPEX Financial Statement Overview

Summary

INPEX's financial statements reflect strong revenue and profit growth, efficient cost management, and a solid capital structure. The company shows robust growth in net income and maintains impressive profit margins. However, the significant debt level requires attention.

Income Statement

INPEX has demonstrated strong growth in its income statement, reflected by a notable increase in net income from the previous year. The company achieved robust gross and net profit margins, supported by efficient cost management and high revenue growth. The steady rise in EBIT and EBITDA margins indicates solid operational efficiency and profitability.

Balance Sheet

The balance sheet of INPEX is solid, with a favorable debt-to-equity ratio and a high equity ratio, indicating strong financial stability. The company's return on equity is impressive, showcasing effective use of shareholder capital. However, the total debt remains significant, which could pose risks if not managed properly.

Cash Flow

INPEX exhibits stable cash flow management with positive free cash flow growth and a strong operating cash flow to net income ratio. The company effectively converts its earnings into cash, although the decline in operating cash flow compared to the previous year suggests potential areas for improvement.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.12T	2.27T	2.16T	2.32T	1.24T	771.05B
Gross Profit	1.25T	1.35T	1.32T	1.38T	675.45B	331.19B
EBITDA	1.50T	1.53T	1.63T	1.63T	867.24B	267.34B
Net Income	438.28B	427.34B	321.71B	498.45B	223.05B	-111.70B
Balance Sheet
Total Assets	7.03T	7.38T	6.74T	6.26T	5.16T	4.63T
Cash, Cash Equivalents and Short-Term Investments	262.45B	241.68B	201.15B	285.98B	201.76B	182.98B
Total Debt	1.10T	1.06T	1.06T	1.27T	1.18T	1.23T
Total Liabilities	2.20T	2.24T	2.24T	2.22T	1.81T	1.63T
Stockholders Equity	4.59T	4.82T	4.21T	3.78T	3.12T	2.74T
Cash Flow
Free Cash Flow	0.00	353.68B	536.00B	554.62B	294.49B	154.03B
Operating Cash Flow	0.00	654.74B	788.13B	751.28B	445.46B	292.92B
Investing Cash Flow	0.00	-290.40B	-320.12B	-525.57B	-130.73B	-417.19B
Financing Cash Flow	0.00	-349.94B	-487.27B	-241.93B	-315.21B	126.75B

INPEX Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3173.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:1605, the sentiment is Positive. The current price of 3173 is above the 20-day moving average (MA) of 3138.27, above the 50-day MA of 2902.50, and above the 200-day MA of 2263.16, indicating a bullish trend. The MACD of 94.93 indicates Positive momentum. The RSI at 57.64 is Neutral, neither overbought nor oversold. The STOCH value of 29.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:1605.

INPEX Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1662	81 Outperform	$333.76B	3.91	16.04%	3.16%	4.14%	91.38%
1605	79 Outperform	$3.94T	9.17	9.52%	2.93%	-11.79%	18.12%
5021	73 Outperform	¥583.42B	19.55	―	4.05%	2.57%	-4.79%
6269	73 Outperform	¥937.76B	21.45	24.31%	0.66%	10.13%	25.50%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
5020	64 Neutral	$2.87T	12.84	-0.15%	2.80%	-14.13%	33.18%
5019	63 Neutral	$1.40T	110.05	2.23%	3.13%	-7.68%	-73.03%

INPEX Corporate Events

INPEX Acquires 6 Million Treasury Shares in November

INPEX CORPORATION announced the acquisition of 6,072,000 shares of its treasury stock between November 1 and November 30, 2025, at a total cost of 18.65 billion yen. This move is part of a broader strategy approved by the Board of Directors to acquire up to 60 million shares by January 31, 2026, aiming to enhance shareholder value and optimize capital structure.

INPEX Announces Leadership Change

INPEX Corporation has announced a change in its leadership structure, effective January 1, 2026. Hiroshi Fujii, currently serving as the Representative Director and Senior Executive Vice President for Europe & Middle East Projects, will transition to the role of Director and Corporate Advisor. This change reflects a strategic shift within the company’s executive team, potentially impacting its operational focus and stakeholder relations.

INPEX Enhances Shareholder Benefit System to Boost Long-term Investment

INPEX Corporation announced enhancements to its shareholder benefit system, aiming to increase the attractiveness of its shares and encourage long-term investment. The changes include increased benefits for shareholders based on the number of shares held and the duration of holding, with additional incentives for those holding shares for eight years, reflecting the company’s commitment to rewarding shareholder loyalty.

INPEX Expands Treasury Stock Acquisition Plan

INPEX CORPORATION has announced an expansion of its treasury stock acquisition plan, increasing the number of shares to be repurchased and extending the acquisition period. This move aims to enhance shareholder returns and improve capital efficiency, reflecting a strategic approach to strengthen the company’s financial standing and market position.

INPEX Reports Nine-Month Financial Results Amid Market Challenges

INPEX CORPORATION has released its financial results for the nine months ending September 30, 2025, highlighting the company’s performance amidst challenges like price volatility and foreign exchange rate fluctuations. The announcement underscores the company’s resilience in navigating market uncertainties, which may impact its future financial position and stakeholder interests.

INPEX Reports Decline in Revenue but Maintains Profit Growth

INPEX Corporation reported a decline in revenue and operating profit for the nine months ending September 30, 2025, compared to the same period in 2024. Despite this, the company saw a slight increase in profit attributable to owners of the parent, indicating resilience in challenging market conditions. The company has adjusted its financial forecasts for the year ending December 31, 2025, reflecting anticipated changes in business conditions, including oil and gas price fluctuations and project developments.

INPEX Acquires Treasury Stock as Part of Strategic Buyback Plan

INPEX CORPORATION has acquired 7,122,000 of its own common shares from the market, spending approximately 19.47 billion yen during October 2025. This acquisition is part of a broader plan approved by the Board of Directors to buy back up to 50 million shares by the end of 2025, reflecting the company’s strategy to manage its capital structure and potentially enhance shareholder value.

INPEX Acquires Treasury Stock as Part of Strategic Equity Management

INPEX Corporation has announced the acquisition of 4,788,600 common shares of its treasury stock, costing approximately 12.5 billion yen, through market purchases on the Tokyo Stock Exchange. This move is part of a larger plan approved by the Board of Directors to acquire up to 50 million shares by the end of 2025, reflecting the company’s strategic efforts to manage its equity and potentially enhance shareholder value.