Inpex Corporation

TSE:1605 Stock Report

Market Cap: JP¥3.8t

Inpex Future Growth

Future criteria checks 0/6

Inpex is forecast to grow earnings and revenue by 0.01% and 0.2% per annum respectively. EPS is expected to grow by 1.8% per annum. Return on equity is forecast to be 8% in 3 years.

Key information

0.01%

Earnings growth rate

1.80%

EPS growth rate

Oil and Gas earnings growth1.1%
Revenue growth rate0.2%
Future return on equity7.99%
Analyst coverage

Good

Last updated02 Jul 2026

Recent future growth updates

Analysis Article • May 16

Earnings Report: Inpex Corporation Missed Revenue Estimates By 17%

Investors in Inpex Corporation ( TSE:1605 ) had a good week, as its shares rose 3.5% to close at JP¥3,921 following the...
Analysis Article • Feb 14

Earnings Update: Inpex Corporation (TSE:1605) Just Reported Its Full-Year Results And Analysts Are Updating Their Forecasts

Shareholders might have noticed that Inpex Corporation ( TSE:1605 ) filed its full-year result this time last week. The...
Analysis Article • Nov 16

Earnings Miss: Inpex Corporation Missed EPS By 13% And Analysts Are Revising Their Forecasts

Investors in Inpex Corporation ( TSE:1605 ) had a good week, as its shares rose 9.7% to close at JP¥3,175 following the...

Recent updates

Narrative Update • Jun 22

1605: LNG Resolution And Beetaloo Expansion Will Support Future Cash Returns

Analysts have maintained their ¥4,950 price target on Inpex, citing relatively stable assumptions around revenue growth, profit margin, and future P/E as the basis for keeping their valuation unchanged. What's in the News for Inpex Inpex and Australian unions reached an agreement to end strikes at the Ichthys LNG facilities, with the deal including job security measures, pay increases, and improved working arrangements, allowing a fully resumed production schedule.
Narrative Update • Jun 05

1605: LNG Project Expansions And Beetaloo Gas Venture Will Support Future Returns

Analysts have trimmed their price target on Inpex from ¥5,000 to ¥4,950, reflecting updated assumptions that combine a lower revenue growth outlook with slightly higher profit margins and a largely unchanged forward P/E multiple. What's in the News Union workers at the Inpex operated Ichthys LNG project in Australia have started limited industrial action over a wage dispute, causing a 24 hour delay to a Taiwan bound LNG tanker, with the Offshore Alliance flagging a broader strike between June 11 and June 23 if talks do not reach agreement.
Narrative Update • May 22

1605: Beetaloo Gas Venture Will Support Future Cash Flows And Returns

Analysts have kept their ¥5,000 price target on Inpex steady, citing only minor updates to the discount rate, revenue growth, profit margin and future P/E assumptions that do not materially change their overall view on the stock. What's in the News Inpex entered a joint venture with Formentera Partners to accelerate development of natural gas resources in Australia’s onshore Beetaloo Basin, combining Formentera’s shale expertise with Inpex’s LNG capabilities to supply domestic gas and future LNG exports to Asia and other regions (Key Developments).
Analysis Article • May 16

Earnings Report: Inpex Corporation Missed Revenue Estimates By 17%

Investors in Inpex Corporation ( TSE:1605 ) had a good week, as its shares rose 3.5% to close at JP¥3,921 following the...
Narrative Update • May 01

1605: Beetaloo Gas Development And Stable Cash Flows Will Support Future Returns

Analysts have maintained Inpex's fair value estimate at ¥5,000, making only very small adjustments to growth, margin and future P/E assumptions. As a result, the headline price target remains unchanged, although the underlying model inputs have been slightly refined.
Narrative Update • Apr 17

1605: Beetaloo Expansion And LNG Plans Will Likely Keep Shares Fairly Valued

The analyst price target for Inpex has been revised from approximately ¥3,192 to about ¥3,952. Analysts cited updated assumptions around revenue growth, profit margins, and a slightly adjusted discount rate and future P/E as key drivers of the change.
Narrative Update • Apr 01

1605: Future Cash Flows And Beetaloo Development Will Support Shareholder Returns

Analysts have raised their price target on Inpex to ¥5,000 from ¥4,859, citing updated assumptions for future revenue growth, profit margins, and a lower forward P/E multiple, while also noting that some expect softer oil and gas prices ahead. Analyst Commentary Recent research on Inpex reflects a split view, with some analysts focusing on potential downside risks from softer oil and gas price assumptions and others pointing to valuation support and execution on current projects.
Narrative Update • Mar 18

1605: Softer 2026 Commodity Prices Will Likely Drive Further Share Downside

Analysts have slightly lifted their fair value estimate for Inpex to ¥2,780 from ¥2,750, reflecting updated assumptions on future P/E and margins, while incorporating recent Street research that factors in expectations for softer oil and gas prices in 2026. Analyst Commentary Bearish analysts are taking a more cautious stance on Inpex, even as fair value estimates are being fine tuned.
Narrative Update • Mar 04

1605: Higher 2026 Cash Flows And Buybacks Will Support Stronger Shareholder Returns

Narrative Update on Inpex Analysts have adjusted their fair value estimate for Inpex from about ¥4,187 to roughly ¥4,859, reflecting updated assumptions on revenue growth, profit margins and future P/E multiples. This comes alongside a recent move by one firm to set a ¥2,820 price target based on expectations for softer oil and gas prices in 2026.
Narrative Update • Feb 17

1605: Softer 2026 Commodity Pricing Will Likely Constrain Upside Potential

Analysts have lifted their fair value estimate for Inpex to ¥2,750 from ¥1,940, citing updated assumptions on discount rates, revenue trends and future P/E, even as some now expect softer oil and gas pricing ahead. Analyst Commentary Bearish analysts recently shifted to a more cautious stance on Inpex, moving their rating to Underperform with a price target of ¥2,820.
Analysis Article • Feb 14

Earnings Update: Inpex Corporation (TSE:1605) Just Reported Its Full-Year Results And Analysts Are Updating Their Forecasts

Shareholders might have noticed that Inpex Corporation ( TSE:1605 ) filed its full-year result this time last week. The...
Narrative Update • Feb 03

1605: Buybacks And Softer 2026 Pricing Views Will Likely Keep Shares Fairly Valued

Analysts have updated their fair value estimate for Inpex from ¥3,146 to about ¥3,192, reflecting revised price target work that incorporates expectations for softer oil and gas prices in 2026. Analyst Commentary Recent research has led some bearish analysts to adopt a more cautious stance on Inpex, with a revised price target of ¥2,820 that sits below the updated fair value estimate of about ¥3,192.
Narrative Update • Jan 19

1605: Buybacks And Cautious 2026 Pricing Views Will Likely Keep Shares Fairly Valued

Analysts now see Inpex's fair value at ¥3,146, down slightly from ¥3,150, reflecting updated views on revenue, margins and future P/E after some have turned more cautious on oil and gas pricing. Analyst Commentary Bullish Takeaways Bullish analysts point out that the fair value cut to ¥3,146 is small relative to prior estimates, which they see as a sign that core assumptions on earnings power and P/E have not materially shifted.
Narrative Update • Jan 05

1605: Expanded Buybacks And Firm Margins Will Support Stronger Shareholder Returns

Analysts have kept their fair value estimate for Inpex broadly steady at ¥4,186.61 per share, reflecting updated assumptions for lower revenue growth expectations, a slightly higher profit margin and a modestly higher future P/E of 13.73, which together inform the latest price target view. What's in the News Board meeting scheduled for November 13, 2025 to consider changes to Inpex's shareholder benefit system and other agenda items (company event filing).
Narrative Update • Dec 20

1605: Shareholder Returns Will Likely Accelerate Under Expanded Buyback Program

Analysts have raised their price target on Inpex from ¥2,900 to approximately ¥4,187, citing expectations of faster revenue growth, stronger profit margins, and a higher justified future P/E multiple. What's in the News Board meeting scheduled for November 13, 2025, to consider enhancing the shareholder benefit system and other matters (Company announcement).
Analysis Article • Dec 12

Inpex (TSE:1605) Is Due To Pay A Dividend Of ¥50.00

Inpex Corporation ( TSE:1605 ) will pay a dividend of ¥50.00 on the 31st of March. Based on this payment, the dividend...
Narrative Update • Dec 06

1605: Future Buybacks And Raised Guidance Will Likely Keep Shares Fairly Valued

Analysts have raised their price target on Inpex from ¥2,801 to ¥3,150, reflecting slightly improved long term revenue and margin expectations and a modestly higher assumed future price to earnings multiple. What's in the News Board meeting scheduled for November 13, 2025, with an agenda that includes enhancing the shareholder benefit system and other matters (company disclosure) Equity buyback plan expanded on November 13, 2025, increasing authorization by ¥20,000 million to ¥100,000 million, with the maximum number of shares raised from 50,000,000 to 60,000,000 and the program extended to January 31, 2026 (company disclosure) Full year 2025 earnings guidance raised, with net sales now expected at JPY 2,000,000 million, operating profit at JPY 1,120,000 million, and profit attributable to owners of parent at JPY 390,000 million, reflecting strong project operations and updated oil price and FX assumptions (company guidance) Buyback tranche update for August 8, 2025 to September 30, 2025, confirming repurchase of 11,396,500 shares, or 0.95 percent of shares, for ¥28,321.54 million under the existing program (company disclosure) Valuation Changes Consensus Analyst Price Target increased moderately from ¥2,801 to ¥3,150, reflecting a somewhat more optimistic view of long term value Discount Rate unchanged at 4.8 percent, indicating no shift in the assumed risk profile or cost of capital Revenue Growth revised slightly higher from negative 2.47 percent to negative 2.39 percent, implying a marginally less pronounced decline in long term sales Net Profit Margin edged up from 17.10 percent to 17.17 percent, suggesting modestly stronger long term profitability expectations Future P/E risen from 11.47 times to 12.81 times, indicating a somewhat higher valuation multiple being applied to expected earnings
Analysis Article • Nov 28

Inpex's (TSE:1605) Dividend Will Be ¥50.00

Inpex Corporation ( TSE:1605 ) will pay a dividend of ¥50.00 on the 31st of March. This makes the dividend yield about...
Narrative Update • Nov 22

1605: Future Buyback Expansion Is Expected To Limit Shareholder Returns

Analysts have raised their price target for Inpex from ¥2,548 to ¥2,801. They cited an improved outlook with better projected revenue growth and only minor changes to profit margins.
Analysis Article • Nov 16

Earnings Miss: Inpex Corporation Missed EPS By 13% And Analysts Are Revising Their Forecasts

Investors in Inpex Corporation ( TSE:1605 ) had a good week, as its shares rose 9.7% to close at JP¥3,175 following the...
Analysis Article • Nov 14

Inpex (TSE:1605) Will Pay A Dividend Of ¥50.00

Inpex Corporation's ( TSE:1605 ) investors are due to receive a payment of ¥50.00 per share on 31st of March. The...
Narrative Update • Nov 07

1605: Future Discount Rate Decline Signals Persistent Downside Risk

Analysts have maintained their price target for Inpex at ¥2,548. This steady outlook is supported by unchanged revenue and profit margin forecasts as well as expectations of a slightly reduced discount rate.
Narrative Update • Oct 24

Share Buyback and Dividend Increase Will Influence Future LNG Valuations

Analysts have raised their fair value estimate for Inpex from ¥2,521 to ¥2,548. They cite an improved profit margin outlook and a slight reduction in the discount rate, which together support a modestly higher price target.
Analysis Article • Sep 27

Calculating The Fair Value Of Inpex Corporation (TSE:1605)

Key Insights The projected fair value for Inpex is JP¥3,086 based on 2 Stage Free Cash Flow to Equity Inpex's JP¥2,775...
Narrative Update • Sep 14

Global Energy Shift Will Expose Overvaluation Risks In LNG

The consensus price target for Inpex has increased to ¥2521, reflecting improved sentiment driven by slightly better revenue growth forecasts and a modest uptick in net profit margin. What's in the News Board resolved to acquire treasury stock and authorized a share buyback plan.
Analysis Article • Sep 02

Inpex (TSE:1605) Has Announced A Dividend Of ¥50.00

Inpex Corporation ( TSE:1605 ) has announced that it will pay a dividend of ¥50.00 per share on the 31st of March...
Narrative Update • Aug 31

Global Energy Shift Will Expose Overvaluation Risks In LNG

As Inpex’s future P/E and discount rate remained essentially unchanged, analysts have kept their outlook steady, reflected in only a slight increase in the fair value estimate to ¥2411. What's in the News Board approved acquisition of treasury stock and authorized a share buyback plan.
Analysis Article • Jul 28

Is Inpex (TSE:1605) A Risky Investment?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Jul 10

Returns On Capital Are Showing Encouraging Signs At Inpex (TSE:1605)

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
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New Narrative • Jun 22

Global Energy Shift Will Expose Overvaluation Risks In LNG

Market optimism about LNG and new energy ventures may be overextended, exposing the company to risks from faster renewable adoption and execution challenges in major projects.

Earnings and Revenue Growth Forecasts

TSE:1605 - Analysts future estimates and past financials data (JPY Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20282,263,675442,194295,150N/A9
12/31/20272,375,897479,416311,050N/A10
12/31/20262,421,937484,894278,367N/A10
3/31/20261,976,255376,957N/AN/AN/A
12/31/20252,011,351393,836399,867693,893N/A
9/30/20252,038,927431,332N/AN/AN/A
6/30/20252,123,843438,285430,508713,651N/A
3/31/20252,205,936431,808N/AN/AN/A
12/31/20242,265,837427,344353,676654,737N/A
9/30/20242,311,035394,741N/AN/AN/A
6/30/20242,276,588280,039404,461724,750N/A
3/31/20242,182,840292,062N/AN/AN/A
12/31/20232,164,516321,708535,996788,130N/A
9/30/20232,227,752451,239N/AN/AN/A
6/30/20232,304,973508,069572,865772,607N/A
3/31/20232,417,745495,664N/AN/AN/A
12/31/20222,324,660438,276554,618751,284N/A
9/30/20222,093,898352,755N/AN/AN/A
6/30/20221,844,448355,528510,762677,892N/A
3/31/20221,486,063278,952N/AN/AN/A
12/31/20211,244,369223,048294,489445,457N/A
9/30/20211,027,462151,450N/AN/AN/A
6/30/2021877,76061,082163,067297,966N/A
3/31/2021765,074-107,088N/AN/AN/A
12/31/2020771,046-111,699154,030292,915N/A
12/31/20191,270,849157,056N/A378,098N/A
9/30/20191,108,452131,559N/A282,309N/A
6/30/20191,056,438108,990N/A257,939N/A
3/31/2019971,38896,106N/A238,566N/A
12/31/2018930,57849,553N/A201,808N/A
9/30/2018923,98444,244N/A248,225N/A
6/30/2018918,17837,149N/A256,934N/A
3/31/2018933,70140,362N/A278,539N/A
12/31/2017954,60151,648N/A301,912N/A
9/30/2017932,68860,593N/A300,327N/A
6/30/2017894,16158,329N/A294,077N/A
3/31/2017874,42346,168N/A275,810N/A
12/31/2016823,962-2,747N/A218,079N/A
9/30/2016832,208-12,981N/A202,668N/A
6/30/2016963,408675N/A219,291N/A
3/31/20161,009,56416,777N/A183,707N/A
12/31/20151,053,72143,490N/A237,816N/A
9/30/20151,075,10034,558N/A195,191N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1605's forecast earnings growth (0.01% per year) is below the savings rate (0.8%).

Earnings vs Market: 1605's earnings (0.01% per year) are forecast to grow slower than the JP market (10.1% per year).

High Growth Earnings: 1605's earnings are forecast to grow, but not significantly.

Revenue vs Market: 1605's revenue (0.2% per year) is forecast to grow slower than the JP market (6.5% per year).

High Growth Revenue: 1605's revenue (0.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 1605's Return on Equity is forecast to be low in 3 years time (8%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/06 23:43
End of Day Share Price 2026/07/06 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

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

Inpex Corporation is covered by 23 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kazuhisa MoriBarclays
NEIL BEVERIDGEBernstein
Kohei SugaBofA Global Research