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International Public Partnerships
(LSE:INPP)
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Rating:80Outperform
Price Target:
166.00 p
â–²(19.42% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong financial positioning (notably the debt-free balance sheet and improving cash flow) and an attractive valuation (low P/E and high dividend yield). These positives are partially offset by earnings volatility across years and technical indicators signaling the stock is currently overbought despite being in an uptrend.
Positive Factors
Conservative balance sheet (debt-free)
A zero-reported-debt position through 2024–2025 provides durable financial flexibility: lower interest exposure, greater resilience to project delays or macro shocks, and optionality to fund new investments or support distributions without relying on expensive external financing.
Negative Factors
Multi-year revenue and margin volatility
Repeated swings in revenue and margins reduce predictability of distributable cash and complicate long-term planning. For an income-focused infrastructure investor, persistent volatility raises the risk that dividends and reinvestment capacity depend on timing of disposals or one-off gains.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet (debt-free)
A zero-reported-debt position through 2024–2025 provides durable financial flexibility: lower interest exposure, greater resilience to project delays or macro shocks, and optionality to fund new investments or support distributions without relying on expensive external financing.
Read all positive factors
International Public Partnerships (INPP) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£2.50B
Dividend Yield6.2%
Average Volume (3M)2.70M
Price to Earnings (P/E)9.9
Beta (1Y)0.56
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees13,672
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.14
Shares Outstanding1,794,237,000
10 Day Avg. Volume1,867,636
30 Day Avg. Volume2,704,480
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.85
Price to Sales (P/S)8.61
P/FCF Ratio14.45
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.11
Revenue Forecast (FY)N/A
International Public Partnerships Business Overview & Revenue Model
Company Description
This firm concentrates its investment activities within the extensive infrastructure sector, with a particular focus on public and social infrastructure. It targets a range of acquisition opportunities, encompassing individual assets, entire portf...
How the Company Makes Money
INPP makes money by investing shareholders’ capital (and, at the asset level, often using project/company debt alongside equity) into infrastructure assets that generate contracted or regulated cash flows. Its primary revenue stream is investment ...
International Public Partnerships Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 270.96M | 37.19M | 66.07M | 369.57M | 161.80M |
| Gross Profit | 267.76M | 37.19M | 66.07M | 369.57M | 161.80M |
| EBITDA | 263.85M | 523.00K | 30.85M | 334.38M | 129.09M |
| Net Income | 263.70M | 465.00K | 27.86M | 326.90M | 129.21M |
Balance Sheet | |||||
| Total Assets | 2.76B | 2.73B | 2.99B | 3.08B | 2.70B |
| Cash, Cash Equivalents and Short-Term Investments | 54.52M | 76.45M | 128.56M | 92.83M | 56.09M |
| Total Debt | 0.00 | 0.00 | 65.00M | 29.30M | 156.22M |
| Total Liabilities | 9.44M | 11.92M | 76.05M | 45.05M | 166.81M |
| Stockholders Equity | 2.75B | 2.72B | 2.92B | 3.04B | 2.53B |
Cash Flow | |||||
| Free Cash Flow | 161.42M | 140.98M | 133.27M | 138.57M | 83.30M |
| Operating Cash Flow | 161.42M | 140.98M | 133.27M | 138.57M | 83.30M |
| Investing Cash Flow | 54.69M | 74.47M | 26.28M | -157.62M | -199.38M |
| Financing Cash Flow | -237.54M | -267.93M | -123.62M | 54.38M | 128.15M |
International Public Partnerships Technical Analysis
Positive
139.00
Price Trends
139.24
Negative
135.59
Positive
128.81
Positive
Market Momentum
-0.23
Positive
49.28
Neutral
32.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:INPP, the sentiment is Positive. The current price of 139 is below the 20-day moving average (MA) of 139.70, below the 50-day MA of 139.24, and above the 200-day MA of 128.81, indicating a neutral trend. The MACD of -0.23 indicates Positive momentum. The RSI at 49.28 is Neutral, neither overbought nor oversold. The STOCH value of 32.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:INPP.
International Public Partnerships Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | £823.25M | 14.23 | 42.37% | 5.30% | 18.94% | 66.50% | |
81 Outperform | £528.87M | 12.59 | 46.72% | 5.20% | 7.26% | 30.92% | |
80 Outperform | £2.50B | 9.94 | 9.61% | 6.20% | ― | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
58 Neutral | £611.33M | 9.26 | 7.14% | 2.09% | -35.12% | ― | |
53 Neutral | £244.97M | -2.02 | -28.75% | 14.82% | 102.27% | -2044.26% | |
44 Neutral | $20.16M | -1.92 | -18.19% | 49.26% | -65.77% | 81.79% |
* Financial Sector Average
GB:INPP
International Public Partnerships
139.20
24.95
21.84%
GB:IPO
IP Group plc
69.20
8.70
14.38%
GB:POLR
Polar Capital Holdings
868.00
444.50
104.96%
GB:GSF
Gore Street Energy Storage
48.50
0.78
1.63%
GB:FSG
Foresight Group Holdings Ltd.
478.50
41.26
9.44%
GB:RNEW
Ecofin U.S. Renewables Infrastructure Trust Plc
0.15
>-0.01
-5.19%
International Public Partnerships Corporate Events
Regulatory Filings and Compliance
International Public Partnerships Updates Total Voting Rights and Share Capital
Neutral
Aug 3, 2026
International Public Partnerships Limited has reported that, as of 31 July 2026, its total issued share capital stands at 1,911,243,132 ordinary shares, of which 121,027,505 are held in treasury without voting rights. This leaves 1,790,215,627 sha...
Stock BuybackFinancial Disclosures
International Public Partnerships to Maintain Share Buybacks During Closed Period
Positive
Aug 3, 2026
International Public Partnerships has confirmed that it is entering a closed period ahead of publishing its half-year results for the six months to 30 June 2026 and will continue its existing share buyback programme during this time. The company&#...
Business Operations and StrategyDividendsFinancial Disclosures
International Public Partnerships sets 2026 interim payout and confirms rising dividend targets
Positive
Jul 23, 2026
International Public Partnerships has declared a first interim dividend of 2.19 pence per share for the 2026 financial year, payable on 15 September 2026 to shareholders on the register as of 14 August, with shares trading ex-dividend from 13 Augu...
Business Operations and StrategyPrivate Placements and Financing
INPP invests €46m in new BeNEX rail concession to boost German network
Positive
Jul 21, 2026
International Public Partnerships has committed around €46 million to support BeNEX, its wholly owned German regional rail business, after BeNEX secured a new passenger network concession serving Bavaria and Hesse. The Regionalverkehr Mainfr...
Business Operations and StrategyStock Buyback
International Public Partnerships Increases Treasury Stock with Share Buyback
Positive
Jul 16, 2026
International Public Partnerships has executed a share buyback on the London Stock Exchange, acquiring 150,000 ordinary shares at a weighted average price of 139.9 pence per share through Deutsche Numis Securities. The company intends to hold thes...
Business Operations and StrategyStock Buyback
International Public Partnerships Adds to Treasury Through Share Buyback
Positive
Jul 13, 2026
International Public Partnerships Limited has executed a share buyback on the London Stock Exchange, purchasing 150,000 ordinary shares at prices between 138.8 and 139.8 pence, at a weighted average of 139.4 pence per share. The company intends to...
Business Operations and StrategyStock Buyback
International Public Partnerships Buys Back Shares for Treasury Holding
Positive
Jul 10, 2026
International Public Partnerships has executed a share buyback on the London Stock Exchange, purchasing 150,000 ordinary shares at 139.0 pence each through Deutsche Numis Securities. The company plans to hold these shares in treasury, signalling o...
Business Operations and StrategyStock Buyback
International Public Partnerships Adds to Treasury Stock with Latest Share Buyback
Positive
Jul 9, 2026
International Public Partnerships Limited has repurchased 150,000 ordinary shares at a price of 139.4 pence per share on the London Stock Exchange through Deutsche Numis Securities and intends to hold these shares in treasury. Following this trans...
Business Operations and StrategyStock Buyback
International Public Partnerships Adds to Treasury with Share Buyback
Neutral
Jul 3, 2026
International Public Partnerships has repurchased 150,000 ordinary shares on the London Stock Exchange through Deutsche Numis Securities at a weighted average price of 139.3 pence per share. The company will hold these shares in treasury, bringing...
Business Operations and StrategyStock Buyback
International Public Partnerships Adds to Treasury Through Share Buyback
Positive
Jul 2, 2026
International Public Partnerships Limited has executed a share buyback transaction, purchasing 150,000 ordinary shares on the London Stock Exchange at a price of 139.0 pence per share. The company will hold these repurchased shares in treasury rat...
Regulatory Filings and Compliance
International Public Partnerships Updates Voting Share Capital for Transparency Compliance
Positive
Jul 1, 2026
International Public Partnerships has reported that as of 30 June 2026 its total issued share capital stands at 1,911,243,132 ordinary shares, of which 120,127,505 are held in treasury without voting rights. This leaves 1,791,115,627 shares in iss...
Business Operations and StrategyStock Buyback
International Public Partnerships Adds to Treasury Stock with New Share Buyback
Positive
Jun 30, 2026
International Public Partnerships Limited has continued its capital management strategy with the repurchase of 150,000 ordinary shares at a price of 141 pence on 29 June 2026, executed via Deutsche Numis Securities on the London Stock Exchange. Th...
Stock Buyback
International Public Partnerships Boosts Treasury Stock With Share Buyback
Positive
Jun 24, 2026
International Public Partnerships Limited has carried out a share buyback on the London Stock Exchange, purchasing 150,000 ordinary shares at a weighted average price of 139.7 pence per share through Deutsche Numis Securities. The company will hol...
Executive/Board Changes
INPP Director Stephanie Coxon to Chair Foresight Environmental Infrastructure
Positive
Jun 18, 2026
International Public Partnerships has disclosed a change in external board commitments for one of its directors, as board member Stephanie Coxon is set to become Chair of Foresight Environmental Infrastructure Limited from 17 September 2026, follo...
Business Operations and StrategyStock Buyback
International Public Partnerships Adds to Treasury with Targeted Share Buyback
Positive
Jun 18, 2026
International Public Partnerships has executed a share buyback on the London Stock Exchange, acquiring 91,779 ordinary shares at a weighted average price of 138.1 pence and placing them into treasury. The move increases its treasury holdings to 11...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
International Public Partnerships boosts returns with capital recycling and reaffirms long-term dividend growth
Positive
Jun 17, 2026
International Public Partnerships has reported continued strong performance from its infrastructure portfolio, with more than 98% of assets backed by long-term secure revenues and projected net returns of 9.4%. The company reaffirmed its progressi...
Business Operations and StrategyStock Buyback
International Public Partnerships Buys Back 150,000 Shares for Treasury
Positive
Jun 15, 2026
International Public Partnerships Limited has repurchased 150,000 ordinary shares on the London Stock Exchange, paying a weighted average price of 138.7 pence per share through Deutsche Numis Securities. The company plans to hold these shares in t...
Stock BuybackFinancial DisclosuresRegulatory Filings and Compliance
International Public Partnerships Corrects Share Buyback Disclosures and Updates Capital Structure
Neutral
Jun 12, 2026
International Public Partnerships has corrected earlier disclosures related to its ongoing share buyback programme, clarifying that it purchased 150,000 ordinary shares on 15 May 2026 rather than the previously reported 288,997, and that the state...
Business Operations and StrategyStock Buyback
International Public Partnerships Boosts Treasury Stock with New Share Buyback
Positive
Jun 12, 2026
International Public Partnerships has carried out a share buyback on the London Stock Exchange, acquiring 150,000 ordinary shares at a weighted average price of 137.6 pence per share through Deutsche Numis Securities. The company plans to hold the...
Business Operations and StrategyStock Buyback
International Public Partnerships Buys Back 150,000 Shares for Treasury
Positive
Jun 11, 2026
International Public Partnerships Limited has repurchased 150,000 ordinary shares on the London Stock Exchange, paying a weighted average price of 137.0 pence per share, with prices ranging between 135.8 and 137.8 pence. The company plans to hold ...
Business Operations and StrategyStock Buyback
International Public Partnerships Increases Treasury Stock With New Share Buyback
Positive
Jun 10, 2026
International Public Partnerships has repurchased 150,000 ordinary shares on the London Stock Exchange, paying a weighted average price of 136.0 pence per share through Deutsche Numis Securities. The company intends to hold these shares in treasur...
Business Operations and StrategyStock Buyback
International Public Partnerships Buys Back Shares for Treasury
Positive
Jun 9, 2026
International Public Partnerships has repurchased 150,000 ordinary shares on the London Stock Exchange at a weighted average price of 135.8 pence per share, with the shares to be held in treasury. Following this transaction, the company holds 119,...
Business Operations and StrategyStock Buyback
International Public Partnerships Boosts Treasury Stock with Share Buyback
Positive
Jun 8, 2026
International Public Partnerships has repurchased 150,000 ordinary shares on the London Stock Exchange, at prices between 135.6p and 136.7p, with a weighted average of 136.3p per share. The company plans to hold these shares in treasury, bringing ...
Business Operations and StrategyExecutive/Board ChangesStock BuybackDividendsShareholder Meetings
INPP shareholders back AGM resolutions as board leadership and governance evolve
Positive
Jun 3, 2026
International Public Partnerships reported that all resolutions at its 2026 annual general meeting were passed, including authorities to offer scrip dividends, repurchase up to 14.99% of its shares, issue up to 9.99% new shares on a non pre-emptiv...
Business Operations and StrategyStock Buyback
International Public Partnerships Adds to Treasury Stock with Further Share Buyback
Positive
Jun 2, 2026
International Public Partnerships has repurchased 150,000 ordinary shares on the London Stock Exchange, at a weighted average price of 134.4 pence per share, and will hold these shares in treasury. Following this transaction, the company now holds...
Regulatory Filings and Compliance
International Public Partnerships Updates Total Voting Rights and Share Capital
Neutral
Jun 1, 2026
International Public Partnerships has confirmed that as of 29 May 2026 its total issued share capital stands at 1,911,243,132 ordinary shares, of which 118,824,723 are held in treasury without voting rights. This leaves 1,792,418,409 shares carryi...
Business Operations and StrategyStock Buyback
International Public Partnerships Buys Back Shares for Treasury
Positive
May 27, 2026
International Public Partnerships has continued its capital management programme by repurchasing 29,697 ordinary shares on 26 May 2026 at a weighted average price of 132.5 pence, with the shares to be held in treasury. Following this transaction, ...
Business Operations and StrategyStock Buyback
International Public Partnerships Buys Back 150,000 Shares for Treasury
Positive
May 26, 2026
International Public Partnerships has executed a share buyback, purchasing 150,000 ordinary shares on the London Stock Exchange at a weighted average price of 131.2 pence per share, with the shares to be held in treasury. Following this transactio...
Business Operations and StrategyStock Buyback
International Public Partnerships Buys Back 150,000 Shares for Treasury
Positive
May 22, 2026
International Public Partnerships has repurchased 150,000 ordinary shares on the London Stock Exchange at a price of 131 pence per share, with the transaction executed through Deutsche Numis Securities. The company will hold these shares in treasu...
Business Operations and StrategyStock Buyback
International Public Partnerships Boosts Treasury Stock with New Share Buyback
Positive
May 21, 2026
International Public Partnerships has repurchased 150,000 ordinary shares on the London Stock Exchange, at prices between 128.8p and 130.0p, with a weighted average of 129.9p per share. The company intends to hold these shares in treasury, bringin...
Business Operations and StrategyStock Buyback
International Public Partnerships Adds to Treasury Stock with Share Buyback
Positive
May 20, 2026
International Public Partnerships has repurchased 150,000 ordinary shares at 130p each on the London Stock Exchange, via Deutsche Numis Securities, and will hold them in treasury. Following this transaction, the company now holds 118,345,026 share...
Business Operations and StrategyStock Buyback
International Public Partnerships Boosts Treasury Stock with Further Share Buyback
Positive
May 15, 2026
International Public Partnerships has continued its capital management efforts by repurchasing 288,997 ordinary shares on the London Stock Exchange at a weighted average price of 129.1 pence per share. The company plans to hold these shares in tre...
Business Operations and StrategyStock Buyback
International Public Partnerships Buys Back Shares for Treasury
Positive
May 15, 2026
International Public Partnerships has continued its active capital management by repurchasing 150,000 ordinary shares on the London Stock Exchange at a weighted average price of 130.0 pence per share. The company intends to hold these shares in tr...
Business Operations and StrategyStock Buyback
International Public Partnerships Buys Back 300,000 Shares for Treasury
Positive
May 13, 2026
International Public Partnerships has repurchased 300,000 ordinary shares on the London Stock Exchange at a price of 129.0 pence per share via Deutsche Numis Securities. The company intends to hold these shares in treasury, bringing its treasury h...
Business Operations and StrategyStock Buyback
International Public Partnerships Buys Back 150,000 Shares for Treasury
Positive
May 12, 2026
International Public Partnerships Limited has repurchased 150,000 of its ordinary shares on the London Stock Exchange, paying a weighted average price of 130.6 pence per share, with prices ranging between 130.4 and 131.4 pence. The company intends...
Business Operations and StrategyStock Buyback
International Public Partnerships Boosts Treasury Stock with Targeted Share Buyback
Positive
May 12, 2026
International Public Partnerships has executed a share buyback on the London Stock Exchange, repurchasing 150,000 ordinary shares at a weighted average price of 133.1 pence per share. The company intends to hold these shares in treasury, indicatin...
Business Operations and StrategyStock Buyback
International Public Partnerships Repurchases Shares for Treasury Holding
Positive
May 8, 2026
International Public Partnerships Limited has repurchased 150,000 ordinary shares on the London Stock Exchange at a weighted average price of 132.7 pence per share, with the shares to be held in treasury. Following this transaction, the company no...
Stock Buyback
International Public Partnerships Buys Back 150,000 Shares for Treasury
Neutral
May 8, 2026
International Public Partnerships Limited has repurchased 150,000 ordinary shares on the London Stock Exchange at a weighted average price of 133.6 pence per share, with the shares to be held in treasury. Following this transaction, the company ho...
Business Operations and StrategyStock Buyback
International Public Partnerships Adds to Treasury with Latest Share Buyback
Positive
May 7, 2026
International Public Partnerships Limited has continued its share buyback activity, purchasing 35,274 ordinary shares on 6 May 2026 on the London Stock Exchange at a weighted average price of 132.6 pence per share. The company plans to hold these ...
Business Operations and StrategyStock Buyback
International Public Partnerships Adds to Treasury with Targeted Share Buyback
Positive
May 6, 2026
International Public Partnerships Limited has repurchased 150,000 ordinary shares on the London Stock Exchange, paying a weighted average price of 132.1 pence per share, with the lowest and highest prices recorded at 130.8 pence and 132.8 pence re...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.