Financials Inpex Corporation OTC Markets

Stocks

IPXHY

US45790H1014

Oil & Gas Exploration and Production

Market Closed - OTC Markets 15:55:58 2026-10-27 EDT			5-day change	1st Jan Change
25.02 ^USD	-2.50%		+5.04%	+25.60%

10-27	Global markets live: Meta Platforms, Microsoft, Boeing, Verizon, JetBlue…
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Projected Income Statement: Inpex Corporation

Projected Income Statement - Annual - Inpex Corporation

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	1,244,369	2,324,660	2,165,702	2,265,837	2,011,351	2,263,733	2,227,787	2,137,206
Change	-	86.81%	-6.84%	4.62%	-11.23%	12.55%	-1.59%	-4.07%
EBITDA ¹	793,841	1,538,968	1,374,129	1,631,019	1,486,812	1,666,520	1,669,312	1,485,702
Change	-	93.86%	-10.71%	18.69%	-8.84%	12.09%	0.17%	-11%
EBIT ¹	590,657	1,246,408	1,121,844	1,271,789	1,135,440	1,422,964	1,339,369	1,233,091
Change	-	111.02%	-9.99%	13.37%	-10.72%	25.32%	-5.87%	-7.93%
Interest Paid ¹	-13,777	-32,446	-55,982	-122,469	-82,161	-52,700	-41,262	-39,467
Earnings before Tax (EBT) ¹	643,457	1,412,443	1,261,400	1,298,811	1,173,473	1,496,778	1,346,768	1,276,225
Change	-	119.51%	-10.69%	2.97%	-9.65%	27.55%	-10.02%	-5.24%
Net income ¹	223,048	438,276	371,531	427,344	393,836	526,201	486,191	456,109
Change	-	96.49%	-15.23%	15.02%	-7.84%	33.61%	-7.6%	-6.19%
Announcement Date	2/9/22	2/9/23	2/13/24	2/13/25	2/12/26	-	-	-

¹JPY in Million

Estimates

Projected Income Statement - Quarterly - Inpex Corporation

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	350,817	395,155	485,391	613,085	600,267	625,917	578,476	500,313	523,046	563,867	596,800	594,061	556,696	518,280	536,899	511,968	471,780	490,704	501,803	498,692	723,950	586,400	-	-	-	-
Change	-	12.64%	22.84%	26.31%	-2.09%	4.27%	-7.58%	-13.51%	4.54%	7.8%	5.84%	-0.46%	-6.29%	-6.9%	3.59%	-4.64%	-7.85%	4.01%	2.26%	-0.62%	45.17%	-19%	-	-	-	-
EBITDA ¹	-	-	-	-	-	-	-	-	329,082	350,654	472,102	416,559	400,683	-	-	-	-	-	380,108	445,848	413,800	447,900	387,800	372,000	361,700	359,600
Change	-	-	-	-	-	-	-	-	-	6.56%	34.63%	-11.77%	-3.81%	-	-	-	-	-	-	17.3%	-7.19%	8.24%	-13.42%	-4.07%	-2.77%	-0.58%
EBIT ¹	178,703	188,281	228,315	356,178	331,399	330,516	306,300	264,234	268,838	282,472	380,102	319,969	318,008	253,710	323,873	293,009	256,061	262,497	278,215	340,498	315,000	324,400	-	-	-	-
Change	-	5.36%	21.26%	56%	-6.96%	-0.27%	-7.33%	-13.73%	1.74%	5.07%	34.56%	-15.82%	-0.61%	-20.22%	27.65%	-9.53%	-12.61%	2.51%	5.99%	22.39%	-7.49%	2.98%	-	-	-	-
Charge d'intérêts ¹	-3,398	-	-3,777	-	-9,591	-	-13,764	-	-14,055	-13,955	-41,304	-28,353	-12,865	-	-19,643	-	-17,260	-	-15,848	-18,770	-19,800	-21,400	-23,300	-21,500	-19,900	-18,200
Earnings before Tax (EBT) ¹	207,424	216,188	277,865	348,329	383,193	403,056	367,995	328,490	223,477	341,438	372,923	340,293	335,196	250,399	335,359	309,625	266,859	261,630	291,352	352,994	333,600	350,150	307,200	294,900	287,700	288,300
Change	-	4.23%	28.53%	25.36%	10.01%	5.18%	-8.7%	-10.74%	-31.97%	52.78%	9.22%	-8.75%	-1.5%	-25.3%	33.93%	-7.67%	-13.81%	-1.96%	11.36%	21.16%	-5.49%	4.96%	-12.27%	-4%	-2.44%	0.21%
Net income ¹	85,740	85,326	94,087	90,375	82,967	170,847	151,475	102,780	26,137	91,139	121,829	90,757	76,836	137,922	126,293	97,234	69,883	100,426	109,414	153,733	141,075	143,233	-	-	-	-
Change	-	-0.48%	10.27%	-3.95%	-8.2%	105.92%	-11.34%	-32.15%	-74.57%	248.7%	33.67%	-25.5%	-15.34%	79.5%	-8.43%	-23.01%	-28.13%	43.71%	8.95%	40.51%	-8.23%	1.53%	-	-	-	-
Announcement Date	11/5/21	2/9/22	5/11/22	8/8/22	11/8/22	2/9/23	5/10/23	8/9/23	11/9/23	2/13/24	5/14/24	8/8/24	11/12/24	2/13/25	5/13/25	8/8/25	11/13/25	2/12/26	5/13/26	8/7/26	-	-	-	-	-	-

¹JPY in Million

Estimates

Projected Income Statement - Halfyear - Inpex Corporation

Fiscal Period: December	2022 S1	2023 S1	2024 S1	2024 S2	2025 S1	2026 S1	2026 S2	2027 S1	2027 S2
Net sales	1,098,476	1,078,789	1,190,861	1,074,976	1,048,867	1,000,495	-	-	-
Change	-	-1.79%	10.39%	-9.73%	-2.43%	-4.61%	-	-	-
EBITDA ¹	-	-	-	-	-	825,956	861,700	759,800	721,300
Change	-	-	-	-	-	-	4.33%	-11.83%	-5.07%
EBIT	584,493	570,534	700,071	-	616,882	618,713	-	-	-
Change	-	-2.39%	22.7%	-	-	0.3%	-	-	-
Charge d'intérêts ¹	-9,934	-27,972	-69,657	-	-41,952	-34,618	-41,200	-44,800	-38,100
Earnings before Tax (EBT) ¹	626,194	696,485	713,216	585,595	644,984	644,346	698,800	602,200	576,000
Change	-	11.23%	2.4%	-17.89%	10.14%	-0.1%	8.45%	-13.82%	-4.35%
Net income	184,462	254,255	212,586	214,758	223,527	263,147	-	-	-
Change	-	37.84%	-16.39%	1.02%	4.08%	17.72%	-	-	-
Announcement Date	8/8/22	8/9/23	8/8/24	2/13/25	8/8/25	8/7/26	-	-	-

¹JPY in Million

Estimates

Forecast Balance Sheet: Inpex Corporation

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	978,449	1,042,418	855,832	822,236	1,076,338	1,303,635	1,155,074	1,088,264
Change	-	6.54%	-17.9%	-3.93%	30.9%	21.12%	-11.4%	-5.78%
Announcement Date	2/9/22	2/9/23	2/13/24	2/13/25	2/12/26	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Inpex Corporation

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	171,282	314,870	215,455	301,061	390,000	760,417	610,937	697,435
Change	-	83.83%	-31.57%	39.73%	29.54%	94.98%	-19.66%	14.16%
Free Cash Flow (FCF) ¹	274,175	225,710	570,869	353,676	25,159	317,100	258,560	213,450
Change	-	-17.68%	152.92%	-38.05%	-92.89%	1,160.38%	-18.46%	-17.45%
Announcement Date	2/9/22	2/9/23	2/13/24	2/13/25	2/12/26	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Inpex Corporation

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	63.79%	66.2%	63.45%	71.98%	73.92%	73.62%	74.93%	69.52%
EBIT Margin (%)	47.47%	53.62%	51.8%	56.13%	56.45%	62.86%	60.12%	57.7%
EBT Margin (%)	51.71%	60.76%	58.24%	57.32%	58.34%	66.12%	60.45%	59.71%
Net margin (%)	17.92%	18.85%	17.16%	18.86%	19.58%	23.24%	21.82%	21.34%
FCF margin (%)	22.03%	9.71%	26.36%	15.61%	1.25%	14.01%	11.61%	9.99%
FCF / Net Income (%)	122.92%	51.5%	153.65%	82.76%	6.39%	60.26%	53.18%	46.8%
Profitability
ROA	4.56%	25.19%	21.12%	6.05%	5.21%	6.59%	5.88%	5.48%
ROE	7.6%	12.7%	9.4%	9.5%	8.2%	10.77%	9.18%	8.46%
Financial Health
Leverage (Debt/EBITDA)	1.23x	0.68x	0.72x	0.5x	0.72x	0.78x	0.69x	0.73x
Debt / Free cash flow	3.57x	4.62x	1.72x	2.32x	42.78x	4.11x	4.47x	5.1x
Capital Intensity
CAPEX / Current Assets (%)	13.76%	13.54%	9.95%	13.29%	19.39%	33.59%	27.42%	32.63%
CAPEX / EBITDA (%)	21.58%	20.46%	15.68%	18.46%	26.23%	45.63%	36.6%	46.94%
CAPEX / FCF (%)	62.47%	139.5%	37.74%	85.12%	1,550.14%	239.8%	236.28%	326.74%
Items per share
Cash flow per share ¹	294	534.8	607.5	635.6	626	796.6	886.8	543.8
Change	-	81.88%	13.6%	4.62%	-1.51%	27.25%	11.33%	-38.68%
Dividend per Share ¹	48	62	74	86	100	112.8	118.8	123.4
Change	-	29.17%	19.35%	16.22%	16.28%	12.82%	5.32%	3.87%
Book Value Per Share ¹	2,253	2,892	3,290	4,026	4,073	4,410	4,729	5,064
Change	-	28.35%	13.76%	22.39%	1.17%	8.26%	7.23%	7.08%
EPS ¹	153.9	320.7	287	345.3	330.8	458.3	430.3	409.7
Change	-	108.42%	-10.49%	20.3%	-4.2%	38.54%	-6.11%	-4.79%
Nbr of stocks (in thousands)	1,386,518	1,305,994	1,258,244	1,197,663	1,172,825	1,162,220	1,162,220	1,162,220
Announcement Date	2/9/22	2/9/23	2/13/24	2/13/25	2/12/26	-	-	-