Vizora日本語

InpexINPEX CORPORATION1605東証プライム鉱業FY ending Dec 2025, consolidated, IFRS

Inpex FY ending Dec 2025 results

About 74% of Inpex's sales come from Other Projects, with Ichthys Project and Oil and Gas Japan making up much of the rest.

Out of every ¥100 of sales, about ¥56 is left as operating profit.

Revenue changed -11.2% from the prior year, operating profit -10.7%.

Revenue and profit pattern

Revenue and profit down

Revenue -11.2% · profit -10.7%, calculated from disclosed figures.

Operating leverage: 0.95× (profit growth ÷ revenue growth)

What changed from last year

FY ending Dec 2024 → FY ending Dec 2025

Revenue
-11.2%¥2.27T → ¥2.01T
Gross profit
-15.1%¥1.35T → ¥1.15T
Operating income
-10.7%¥1.27T → ¥1.14T
Net income attributable to owners
-7.8%¥427.3B → ¥393.8B
Operating cash flow
+6.0%¥654.7B → ¥693.9B
Free cash flow
+7.0%¥645.8B → ¥691.3B

Results at a glance

  • Revenue for the FY ending Dec 2025 was ¥2.01T, down -11.2% from ¥2.27T.
  • Operating income came to ¥1.14T (-10.7%) and net income attributable to owners to ¥393.8B (-7.8%).
  • Cash moved the other way: operating cash flow rose to ¥693.9B (+6.0%) and free cash flow to ¥691.3B (+7.0%).

What drove the change

  • The main cause was a lower average selling price for crude oil. The company sold more oil, but not enough to offset the price drop.
  • A stronger yen on average during the year also reduced revenue in yen terms.
  • Exploration costs fell sharply, and a one-off gain from a capital reduction at an Ichthys-related subsidiary helped, so profit fell less than revenue.

Things to watch

  • Sales and profit depend heavily on oil prices, and most of its overseas gas is also priced off oil.
  • Overseas income and costs are mostly in US dollars, so a stronger yen lowers profit in yen.
  • Most production comes from two regions, Australia/Southeast Asia and Abu Dhabi/Eurasia, so trouble there would hit results hard.

Annual Securities Report, FY ending Dec 2025 / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report, FY ending Dec 2025 / 事業等のリスク

Where the money goes

FY ending Dec 2024 → FY ending Dec 2025

Where ¥100 of sales goes

For every ¥100 Inpex sells, how much goes where, and how much is kept.

FY ending Dec 2025
Cost of sales
¥43
SG&A
¥6
Other costs
¥5
Operating profit
¥56
Net profit kept
¥20

Annual margin trends

Gross margin57.0%
FY ending Dec 2020: 43.0%43.0%FY ending Dec 2021: 54.3%54.3%FY ending Dec 2022: 64.7%64.7%FY ending Dec 2023: 60.8%60.8%FY ending Dec 2024: 59.6%59.6%FY ending Dec 2025: 57.0%57.0%FY20FY21FY22FY23FY24FY25
Operating margin56.5%
FY ending Dec 2020: 32.2%32.2%FY ending Dec 2021: 47.5%47.5%FY ending Dec 2022: 64.9%64.9%FY ending Dec 2023: 51.5%51.5%FY ending Dec 2024: 56.1%56.1%FY ending Dec 2025: 56.5%56.5%FY20FY21FY22FY23FY24FY25
Net margin19.6%
FY ending Dec 2020: -14.5%-14.5%FY ending Dec 2021: 17.9%17.9%FY ending Dec 2022: 21.5%21.5%FY ending Dec 2023: 14.9%14.9%FY ending Dec 2024: 18.9%18.9%FY ending Dec 2025: 19.6%19.6%FY20FY21FY22FY23FY24FY25

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Dec 2025

Profit by segment

※ Segments without disclosed profit are drawn entirely as costs

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第20期(2025/01/01－2025/12/31)

    ID S100XU9L2026-03-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第19期(2024/01/01－2024/12/31)

    ID S100VIRD2025-03-31Open

  • EDINET (FSA Japan)

    有価証券報告書－第18期(2023/01/01－2023/12/31)

    ID S100T4RJ2024-03-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第17期(2022/01/01－2022/12/31)

    ID S100QH2B2023-03-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第16期(令和3年1月1日－令和3年12月31日)

    ID S100NQB52022-03-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第15期(令和2年1月1日－令和2年12月31日)

    ID S100L16P2021-03-26Open

Extracted from XBRL: 45 / Derived from other figures: 1

Spotted an error? Report it (corrections keep the original record)

Other periods

Analyze this page with AI

Markdown with figures, units, periods and sources, ready to paste into ChatGPT or Claude.

Open MarkdownShare on XSave image