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    InPost (ENXTAM:INPST) Stock Faces Revenue Growth And Thinner Profits

    Simply Wall St·08/31/2026 23:21:49
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    InPost walked into this earnings day with the stock treading water over the past month and quarter, then faced a fresh verdict at €15.57 as the market absorbed the results. The headline is not revenue, which reached PLN 4,177.6m, nor parcel growth, which stayed solid. The emotional trigger is profit quality. Net income of PLN 95.6m and a trailing P/E of 76.8x pit a rich valuation against thinner net margins of 2.7%. Today's price reaction looks like a stress test of how much profit squeeze investors are willing to tolerate.

    Love InPost's parcel growth story but concerned that a 76.8x P/E is being built on 2.7% net margins and modest profit? Compare that trade off against companies in our 297 resilient stocks with low risk scores.

    Q2 2026 Earnings Summary

    • Revenue (Q2 2026 vs Q2 2025): PLN 4,177.6m vs. PLN 3,533.4m (up about 18%)
    • Net Income (Excl. Extra Items, Q2 2026 vs Q2 2025): PLN 95.6m vs. PLN 133.3m (down about 28%)
    • Basic EPS (Q2 2026 vs Q2 2025): PLN 0.19 vs. PLN 0.27 (down about 29%)
    • Net Profit Margin (Trailing 12 Months vs Prior 12 Months): 2.7% vs. 7.9% (margin compressed)

    If you prefer clear charts to long lists of earnings figures and margin ratios, explore InPost's complete financial profile with a visual focus on valuation in the company report for InPost.

    ENXTAM:INPST Trailing 12-Month Revenue & Expenses Breakdown as at Aug 2026
    ENXTAM:INPST Trailing 12-Month Revenue & Expenses Breakdown as at Aug 2026

    InPost growth story meets mixed profitability signals

    Bulls argue that InPost can turn parcel locker scale and tech driven efficiency into stronger earnings over time. Q2 gives partial support. Volumes rose 16% to 381m parcels and revenue grew 18%, which fits the structural out of home parcel growth story and the push into convenience retail partnerships. Poland and the Eurozone still act as proof points. Poland kept an adjusted EBITDA margin around 45.3% and Eurozone margins reached about 16.6% with 30% volume growth. The network milestone of more than 100,000 out of home points and 70,000 APMs shows densification is tracking the long term plan. Early progress in the U.K., where adjusted EBITDA moved from a Q1 loss to a Q2 profit of PLN 29m, also supports the idea that acquisitions like Yodel can be repaired, although the margin there remains thin at about 2.8%.

    Profit squeeze keeps bearish InPost warnings alive

    Bears focus on whether InPost’s capital heavy expansion and acquisitions erode profitability and cash generation. Q2 results give this view plenty of support. Adjusted EBITDA grew only 4.4% while the margin compressed to about 25%. Adjusted EBIT fell 19.3% and adjusted net profit declined 50%, which shows revenue growth is not flowing cleanly to the bottom line. CapEx reached PLN 504m in Q2 and management now guides to about PLN 2.1b in 2026, with negative free cash flow and higher net leverage expected at year end. That directly matches worries about debt funded growth. The guidance cut for full year adjusted EBITDA, now expected to decline mid single digits, indicates the margin uplift from locker mix shift and Yodel integration is taking longer than hoped. The sharp stake cut by a major emerging markets fund earlier in 2026 also fits this more cautious narrative.

    Compare how InPost’s parcel growth, locker expansion and U.K. turnaround story line up against shrinking margins by checking whether analysts see upside or downside from here. See the consensus price target analysis for InPost

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.