<div id="readability-page-1"><div><ul> <li>In April 2026, Babcock Power Services Inc., Riley Power Inc., and IHI Corporation signed a collaboration agreement to convert existing power plant boilers worldwide to low-carbon fuels, especially ammonia, drawing on IHI’s ammonia combustion work in Japan and Indonesia.</li> <li>The deal highlights IHI’s growing role as a technology partner for decarbonizing legacy thermal power assets using ammonia co-firing and fuel conversion solutions.</li> <li>Now we’ll examine how this ammonia-focused retrofit partnership could influence IHI’s investment narrative and its low-carbon energy positioning.</li> </ul><p>The best AI stocks today may lie beyond giants like Nvidia and Microsoft. Find the next big opportunity with these 18 smaller AI-focused companies with strong growth potential through early-stage innovation in machine learning, automation, and data intelligence that could fund your retirement.</p><h2>IHI Investment Narrative Recap</h2><p>To own IHI today, you need to believe that its aero engines, industrial machinery, and emerging low carbon technologies can collectively support resilient earnings, even with high debt and recent share price volatility. The boiler retrofit alliance with Babcock Power and Riley Power could reinforce the near term decarbonization catalyst, but it does not fundamentally change the main risk, which is how IHI balances growth investments with its leveraged balance sheet.</p> <p>Among recent developments, the March 2026 MOU with X energy on nuclear grade component supply stands out alongside the ammonia boiler collaboration. Together, they frame IHI as an equipment and technology partner in both low carbon fuels and advanced nuclear, which could matter for how investors view its growth potential against guidance for fiscal 2026 earnings of about ¥120,000 million and the company’s capacity to service its debt over time.</p> <p>Yet behind the ammonia opportunity, investors should also be aware of how government cost controls and tighter environmental rules could...</p> <p>Read the full narrative on IHI (it's free!)</p><p>IHI's narrative projects ¥2,036.2 billion revenue and ¥169.6 billion earnings by 2029. This requires 8.2% yearly revenue growth and about a ¥48.6 billion earnings increase from ¥121.0 billion today.</p><p>Uncover how IHI's forecasts yield a ¥4498 fair value, a 56% upside to its current price.</p><h2>Exploring Other Perspectives</h2><figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/a17de512-66f6-42f5-b6eb-c32dcaa4170b/chart/quote-price?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/a17de512-66f6-42f5-b6eb-c32dcaa4170b/chart/quote-price"/><figcaption>TSE:7013 1-Year Stock Price Chart</figcaption></figure> <p>Some of the lowest ranked analysts see things very differently, expecting only about 4 percent annual revenue growth to roughly ¥1,818.7 billion and earnings near ¥121.7 billion by 2028, which contrasts with the more constructive consensus and suggests this new ammonia agreement could eventually shift how you weigh these competing stories.</p><p>Explore 2 other fair value estimates on IHI - why the stock might be worth as much as 56% more than the current price!</p><h2>Form Your Own Verdict</h2><p>Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.</p><ul><li>A great starting point for your IHI research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.</li><li>Our free IHI research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate IHI's overall financial health at a glance.</li></ul><h2>Searching For A Fresh Perspective?</h2><p>Our daily scans reveal stocks with breakout potential. 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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.</em></p><div><h3><strong>New: </strong>AI Stock Screener &amp; Alerts</h3><p>Our new AI Stock Screener scans the market every day to uncover opportunities.</p><div><p>• Dividend Powerhouses (3%+ Yield)<br/>• Undervalued Small Caps with Insider Buying<br/>• High growth Tech and AI Companies</p><p>Or build your own from over 50 metrics.</p></div><p>Explore Now for Free</p></div></div></div>

7013

<p>IHI Corporation has partnered with Babcock Power Services and Riley Power to retrofit power plant boilers for low-carbon fuels, particularly ammonia. This collaboration positions IHI as a key player in decarbonizing thermal power assets. While the deal may enhance IHI's investment narrative, concerns remain about its high debt and share price volatility. Analysts project varying revenue growth rates, with some forecasting a significant upside in stock value. The partnership could influence investor perceptions of IHI's growth potential amid tightening environmental regulations.</p>

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IHI Corporation

Babcock & Wilcox

NVIDIA

Microsoft

Babcock & Wilcox Pref Share BWSN 8.125 02/28/26

Babcock & Wilcox Ent Pref Share BWNB 6.5 12/31/26

BABCOCK & WILCOX ENTERPRISES INC 7.75% CUM PERPETUAL PFD STOCK SER A

NVIDIA Corporation

Does IHI’s Global Ammonia Boiler Retrofit Deal Shift The Bull Case For IHI (TSE:7013)?