Company Valuation: Inpex Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,389,291 1,823,168 2,396,325 2,359,995 3,667,424 3,906,120 - -
Change - 31.23% 31.44% -1.52% 55.4% 6.51% - -
Enterprise Value (EV) 1 2,367,740 2,865,586 3,380,591 3,182,231 4,743,762 5,238,504 5,092,144 5,026,479
Change - 21.03% 17.97% -5.87% 49.07% 10.43% -2.79% -1.29%
P/E 6.51x 4.35x 6.63x 5.71x 9.45x 7.97x 7.88x 8.39x
PBR 0.44x 0.48x 0.58x 0.49x 0.77x 0.77x 0.72x 0.67x
PEG - 0x -0.6x 0.3x -2.25x 0.3x 7.09x -1.38x
Capitalization / Revenue 1.12x 0.78x 1.11x 1.04x 1.82x 1.61x 1.64x 1.73x
EV / Revenue 1.9x 1.23x 1.56x 1.4x 2.36x 2.16x 2.14x 2.22x
EV / EBITDA 2.98x 1.86x 2.46x 1.95x 3.19x 3.05x 2.96x 3.15x
EV / EBIT 4.01x 2.3x 3.01x 2.5x 4.18x 3.64x 3.66x 3.92x
EV / FCF 8.64x 12.7x 5.92x 9x 189x 18.8x 16.4x 17x
FCF Yield 11.6% 7.88% 16.9% 11.1% 0.53% 5.31% 6.11% 5.87%
Dividend per Share 2 48 62 74 86 100 110.7 117.9 123.2
Rate of return 4.79% 4.44% 3.89% 4.36% 3.2% 3.29% 3.51% 3.67%
EPS 2 153.9 320.7 287 345.3 330.8 421.9 426.6 400.7
Distribution rate 31.2% 19.3% 25.8% 24.9% 30.2% 26.2% 27.6% 30.7%
Net sales 1 1,244,369 2,324,660 2,165,702 2,265,837 2,011,351 2,421,937 2,375,897 2,263,675
EBITDA 1 793,841 1,538,968 1,374,129 1,631,019 1,486,812 1,716,782 1,719,210 1,593,814
EBIT 1 590,657 1,246,408 1,121,844 1,271,789 1,135,440 1,440,800 1,390,230 1,282,222
Net income 1 223,048 438,276 371,531 427,344 393,836 484,894 479,416 442,194
Net Debt 1 978,449 1,042,418 984,266 822,236 1,076,338 1,332,384 1,186,024 1,120,358
Reference price 2 1,002.00 1,396.00 1,904.50 1,970.50 3,127.00 3,361.00 3,361.00 3,361.00
Nbr of stocks (in thousands) 1,386,518 1,305,994 1,258,244 1,197,663 1,172,825 1,162,190 - -
Announcement Date 2/9/22 A 2/9/23 A 2/13/24 A 2/13/25 A 2/12/26 A - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
7.97x2.16x3.05x3.29% 24.18B
10.71x2.08x4.98x3.1% 133B
10.88x3.02x5.61x4.22% 86.96B
7.62x2.59x4.36x3.08% 71.43B
7.02x2.37x3.86x1.94% 52.61B
11.25x3.41x4.77x2.36% 51.59B
8.47x1.28x4.43x2.29% 49.45B
9.28x2.28x4.45x2.78% 48.71B
10.45x3x4.45x7.27% 38.41B
10.26x3.7x5.28x1.34% 30.55B
Average 9.39x 2.59x 4.52x 3.17% 58.67B
Weighted average by Cap. 9.61x 2.52x 4.69x 3.19%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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