International Petroleum Future Growth
Future criteria checks 5/6
International Petroleum is forecast to grow earnings and revenue by 29.5% and 13.5% per annum respectively. EPS is expected to grow by 30.5% per annum. Return on equity is forecast to be 22.7% in 3 years.
Key information
29.5%
Earnings growth rate
30.47%
EPS growth rate
| Oil and Gas earnings growth | 10.3% |
| Revenue growth rate | 13.5% |
| Future return on equity | 22.70% |
| Analyst coverage | Good |
| Last updated | 06 May 2026 |
Recent future growth updates
Recent updates
Analysis Article • May 07
International Petroleum Corporation Just Recorded A 28% EPS Beat: Here's What Analysts Are Forecasting Next
Shareholders might have noticed that International Petroleum Corporation ( TSE:IPCO ) filed its first-quarter result...Analysis Article • May 04
Analyst Forecasts For International Petroleum Corporation (TSE:IPCO) Are Surging Higher
Celebrations may be in order for International Petroleum Corporation ( TSE:IPCO ) shareholders, with the analysts...
Narrative Update • May 03
IPCO: Fair Outlook Will Hinge On 2026 Output And Execution
International Petroleum's updated fair value estimate edges up by about CA$2 to CA$38.44 as analysts point to recent price target increases from several Canadian banks, along with small adjustments to assumed growth, margins, and future P/E levels. Analyst Commentary Recent Street research on International Petroleum has focused on higher price targets and an upgrade in rating, which feeds directly into how you might think about valuation support, growth expectations, and execution risk around the stock.Narrative Update • Apr 18
IPCO: Upgraded Outlook Will Depend On Delivering 2026 Production Guidance
Analysts have lifted their consolidated price target on International Petroleum to about CA$37, up from roughly CA$33, citing updated assumptions for revenue growth, profitability and forward P/E after recent upgrades and target increases from several firms. Analyst Commentary Recent research activity around International Petroleum has centered on higher price targets and rating changes that feed into the new consolidated target of about CA$37.Narrative Update • Apr 03
IPCO: Overvaluation Risk Will Hinge On Delivering Blackrod Phase 1 Plateau
Analysts have raised their fair value estimate for International Petroleum to CA$32.79 from CA$31.24. This change reflects recent upward revisions to Street price targets, which have increased by CA$2 to CA$6, and supports existing views on its projected P/E and margin profile.Narrative Update • Mar 19
IPCO: Overvaluation Risk Will Depend On Delivering Blackrod Phase 1 Plateau
Analysts have lifted their price target on International Petroleum by CA$2, reflecting updated assumptions around fair value, revenue growth, profit margins and forward P/E expectations. Analyst Commentary Bullish Takeaways Bullish analysts see the CA$2 price target lift as consistent with updated fair value work that reflects the current forward P/E assumptions.
New Narrative • Mar 12
Blackrod Risks And Weak Gas Pricing Will Limit Long Term Earnings Potential
Catalysts About International Petroleum International Petroleum is an oil and gas producer with assets in Canada, Malaysia and France. What are the underlying business or industry changes driving this perspective?Narrative Update • Mar 05
IPCO: Future Returns Will Hinge On Delivering Blackrod Phase 1 Plateau
Analysts have nudged their fair value estimate for International Petroleum higher to CA$29.91 from CA$29.48, citing updated price targets and refreshed assumptions around growth, margins and future P/E multiples. Analyst Commentary RBC Capital has lifted its price target for International Petroleum by C$2, which feeds into the slightly higher fair value estimate.
New Narrative • Feb 26
Blackrod Progress And Low Decline Production Will Support Stronger Long Term Cash Generation
Catalysts About International Petroleum International Petroleum is an oil and gas producer with assets in Canada, Malaysia and France, focused on low decline production and thermal oil developments such as Blackrod and Onion Lake Thermal. What are the underlying business or industry changes driving this perspective?Narrative Update • Feb 18
IPCO: Future Returns Will Rely On Blackrod Execution And Buyback Discipline
Analysts have lifted their fair value estimate for International Petroleum to CA$29.48 from CA$26.45, reflecting updated assumptions around revenue growth, profit margins, discount rate and future P/E, as well as a recent CA$2 price target increase cited in Street research. Analyst Commentary Analysts lifting their fair value estimates and referencing the recent CA$2 price target move are signaling a shift in how they see International Petroleum’s risk and reward trade off, with updated views on revenue, profitability and valuation multiples feeding into their models.Analysis Article • Feb 07
International Petroleum Corporation's (TSE:IPCO) 28% Jump Shows Its Popularity With Investors
International Petroleum Corporation ( TSE:IPCO ) shares have had a really impressive month, gaining 28% after a shaky...Narrative Update • Feb 04
IPCO: Future Returns Will Depend On Execution Risk At Blackrod Project
Analysts have raised their price target for International Petroleum to $26.45 from $25.17, citing updated assumptions for revenue growth, profit margins, and a lower expected future P/E multiple. What's in the News International Petroleum Corporation provided an update on the Blackrod Phase 1 development in Canada, confirming first steam injection began on December 20, 2025, following substantial project progress during 2025 (Key Developments).Analysis Article • Feb 03
We Think International Petroleum (TSE:IPCO) Is Taking Some Risk With Its Debt
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Nov 21
International Petroleum Corporation's (TSE:IPCO) P/E Is Still On The Mark Following 26% Share Price Bounce
International Petroleum Corporation ( TSE:IPCO ) shares have had a really impressive month, gaining 26% after a shaky...Analysis Article • Nov 07
International Petroleum Corporation Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
It's been a good week for International Petroleum Corporation ( TSE:IPCO ) shareholders, because the company has just...Analysis Article • Oct 22
Does International Petroleum (TSE:IPCO) Have A Healthy Balance Sheet?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Narrative Update • Sep 23
Blackrod Phase 1 Will Boost Low-Cost Canadian Crude Output
International Petroleum’s higher future P/E ratio signals increased growth expectations, but with the discount rate unchanged, the consensus analyst price target was only marginally raised from CA$24.95 to CA$25.17. What's in the News Reported Q2 2025 net average daily production of 43,600 boepd, down from 48,400 boepd year-over-year; six-month average production was 44,000 boepd, down from 48,600 boepd.Analysis Article • Sep 04
The Return Trends At International Petroleum (TSE:IPCO) Look Promising
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Typically, we'll want to notice a...Analysis Article • Aug 08
Results: International Petroleum Corporation Beat Earnings Expectations And Analysts Now Have New Forecasts
TSX:IPCO 1 Year Share Price vs Fair Value Explore International Petroleum's Fair Values from the Community and select...Analysis Article • Jul 24
International Petroleum Corporation's (TSE:IPCO) Popularity With Investors Is Clear
International Petroleum Corporation's ( TSE:IPCO ) price-to-earnings (or "P/E") ratio of 22.6x might make it look like...Analysis Article • Jun 27
Is International Petroleum (TSE:IPCO) A Risky Investment?
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Analysis Article • May 27
Returns At International Petroleum (TSE:IPCO) Are On The Way Up
What are the early trends we should look for to identify a stock that could multiply in value over the long term...Analysis Article • May 08
International Petroleum Corporation Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next
Last week saw the newest quarterly earnings release from International Petroleum Corporation ( TSE:IPCO ), an important...Analysis Article • Apr 20
Take Care Before Diving Into The Deep End On International Petroleum Corporation (TSE:IPCO)
It's not a stretch to say that International Petroleum Corporation's ( TSE:IPCO ) price-to-earnings (or "P/E") ratio of...Analysis Article • Mar 19
Does International Petroleum (TSE:IPCO) Have A Healthy Balance Sheet?
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Feb 11
International Petroleum's (TSE:IPCO) Returns Have Hit A Wall
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
New Narrative • Feb 09
Proactive Sustainability Will Improve Market Reputation And Attract ESG Investors
Successful Blackrod Phase 1 completion could significantly boost revenue and enhance earnings.Analysis Article • Jan 19
International Petroleum Corporation's (TSE:IPCO) Share Price Boosted 26% But Its Business Prospects Need A Lift Too
International Petroleum Corporation ( TSE:IPCO ) shares have had a really impressive month, gaining 26% after a shaky...Analysis Article • Dec 13
We Think International Petroleum (TSE:IPCO) Is Taking Some Risk With Its Debt
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Nov 27
International Petroleum Corporation (TSE:IPCO) Doing What It Can To Lift Shares
International Petroleum Corporation's ( TSE:IPCO ) price-to-earnings (or "P/E") ratio of 9.9x might make it look like a...Analysis Article • Nov 12
International Petroleum's (TSE:IPCO) Anemic Earnings Might Be Worse Than You Think
Last week's earnings announcement from International Petroleum Corporation ( TSE:IPCO ) was disappointing to investors...Analysis Article • Nov 03
Investors Will Want International Petroleum's (TSE:IPCO) Growth In ROCE To Persist
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? One common approach...Analysis Article • Sep 09
Is International Petroleum (TSE:IPCO) A Risky Investment?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Aug 24
International Petroleum Corporation's (TSE:IPCO) Share Price Is Matching Sentiment Around Its Earnings
When close to half the companies in Canada have price-to-earnings ratios (or "P/E's") above 16x, you may consider...Analysis Article • Jul 13
Investors Met With Slowing Returns on Capital At International Petroleum (TSE:IPCO)
What trends should we look for it we want to identify stocks that can multiply in value over the long term? In a...Analysis Article • May 24
These 4 Measures Indicate That International Petroleum (TSE:IPCO) Is Using Debt Reasonably Well
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • May 09
International Petroleum Corporation Just Recorded A 24% EPS Beat: Here's What Analysts Are Forecasting Next
Investors in International Petroleum Corporation ( TSE:IPCO ) had a good week, as its shares rose 6.7% to close at...Analysis Article • Apr 30
There's No Escaping International Petroleum Corporation's (TSE:IPCO) Muted Earnings
With a price-to-earnings (or "P/E") ratio of 9.5x International Petroleum Corporation ( TSE:IPCO ) may be sending...Analysis Article • Mar 20
Slowing Rates Of Return At International Petroleum (TSE:IPCO) Leave Little Room For Excitement
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll...Analysis Article • Feb 13
International Petroleum's (TSE:IPCO) Problems Go Beyond Weak Profit
The subdued market reaction suggests that International Petroleum Corporation's ( TSE:IPCO ) recent earnings didn't...Analysis Article • Feb 09
Earnings Report: International Petroleum Corporation Missed Revenue Estimates By 8.0%
International Petroleum Corporation ( TSE:IPCO ) shareholders are probably feeling a little disappointed, since its...Analysis Article • Feb 03
These 4 Measures Indicate That International Petroleum (TSE:IPCO) Is Using Debt Reasonably Well
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 12/31/2028 | 1,394 | 313 | 378 | 506 | 4 |
| 12/31/2027 | 1,256 | 240 | 346 | 483 | 7 |
| 12/31/2026 | 1,019 | 146 | 132 | 322 | 4 |
| 3/31/2026 | 676 | 25 | -132 | 186 | N/A |
| 12/31/2025 | 682 | 29 | -152 | 194 | N/A |
| 9/30/2025 | 705 | 34 | -153 | 250 | N/A |
| 6/30/2025 | 705 | 53 | -150 | 273 | N/A |
| 3/31/2025 | 765 | 85 | -120 | 288 | N/A |
| 12/31/2024 | 793 | 102 | -169 | 266 | N/A |
| 9/30/2024 | 792 | 131 | -137 | 301 | N/A |
| 6/30/2024 | 876 | 180 | -74 | 341 | N/A |
| 3/31/2024 | 863 | 167 | -66 | 324 | N/A |
| 12/31/2023 | 849 | 173 | 33 | 346 | N/A |
| 9/30/2023 | 910 | 204 | 146 | 373 | N/A |
| 6/30/2023 | 952 | 223 | 222 | 419 | N/A |
| 3/31/2023 | 1,062 | 296 | 362 | 530 | N/A |
| 12/31/2022 | 1,129 | 338 | 444 | 602 | N/A |
| 9/30/2022 | 1,094 | 343 | 413 | 545 | N/A |
| 6/30/2022 | 965 | 283 | 382 | 475 | N/A |
| 3/31/2022 | 790 | 200 | 279 | 350 | N/A |
| 12/31/2021 | 666 | 146 | 237 | 281 | N/A |
| 9/30/2021 | 552 | 34 | 177 | 212 | N/A |
| 6/30/2021 | 475 | 12 | 130 | 164 | N/A |
| 3/31/2021 | 380 | -11 | 52 | 85 | N/A |
| 12/31/2020 | 324 | -78 | -1 | 77 | N/A |
| 9/30/2020 | 366 | 6 | -16 | 121 | N/A |
| 6/30/2020 | 403 | 3 | -16 | 166 | N/A |
| 3/31/2020 | 487 | 30 | 49 | 265 | N/A |
| 12/31/2019 | 554 | 104 | N/A | 271 | N/A |
| 9/30/2019 | 513 | 95 | N/A | 281 | N/A |
| 6/30/2019 | 488 | 115 | N/A | 252 | N/A |
| 3/31/2019 | 479 | 110 | N/A | 245 | N/A |
| 12/31/2018 | 446 | 104 | N/A | 292 | N/A |
| 9/30/2018 | 389 | 83 | N/A | 248 | N/A |
| 6/30/2018 | 332 | 59 | N/A | 224 | N/A |
| 3/31/2018 | 261 | 45 | N/A | 195 | N/A |
| 12/31/2017 | 199 | 23 | N/A | 144 | N/A |
| 9/30/2017 | 205 | -62 | N/A | 139 | N/A |
| 6/30/2017 | 205 | -60 | N/A | 134 | N/A |
| 3/31/2017 | 212 | -40 | N/A | 126 | N/A |
| 12/31/2016 | 207 | -96 | N/A | 109 | N/A |
| 12/31/2015 | 172 | -182 | N/A | 67 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: IPCO's forecast earnings growth (29.5% per year) is above the savings rate (3%).
Earnings vs Market: IPCO's earnings (29.5% per year) are forecast to grow faster than the Canadian market (10.8% per year).
High Growth Earnings: IPCO's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: IPCO's revenue (13.5% per year) is forecast to grow faster than the Canadian market (4.6% per year).
High Growth Revenue: IPCO's revenue (13.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: IPCO's Return on Equity is forecast to be high in 3 years time (22.7%)
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/20 21:41 |
| End of Day Share Price | 2026/05/20 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
International Petroleum Corporation is covered by 16 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Patrick O'Rourke | ATB Cormark |
| Laique Ahmad Amir Arif | ATB Cormark |
| James Hosie | Barclays |