ICICI BANK LTD-SPON ADR (IBN) Stock Fundamental Analysis
NYSE:IBN - New York Stock Exchange, Inc. - US45104G1040 - ADR - Currency: USD
Overall IBN gets a fundamental rating of 4 out of 10. We evaluated IBN against 396 industry peers in the Banks industry. IBN has a medium profitability rating, but doesn't score so well on its financial health evaluation. IBN shows excellent growth, but is valued quite expensive already.
1. Profitability
1.1 Basic Checks
In the past year IBN was profitable.
IBN had a positive operating cash flow in the past year.
In the past 5 years IBN has always been profitable.
Of the past 5 years IBN 4 years had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 1.93%, IBN belongs to the top of the industry, outperforming 96.21% of the companies in the same industry.
Looking at the Return On Equity, with a value of 16.26%, IBN belongs to the top of the industry, outperforming 94.70% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.93% | ||
| ROE | 16.26% | ||
| ROIC | N/A |
ROA(3y)1.85%
ROA(5y)1.63%
ROE(3y)16.47%
ROE(5y)14.97%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
IBN has a Profit Margin (24.82%) which is in line with its industry peers.
IBN's Profit Margin has improved in the last couple of years.
IBN does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 24.82% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y4.78%
PM growth 5Y22.23%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
IBN does not have a ROIC to compare to the WACC, probably because it is not profitable.
IBN has more shares outstanding than it did 1 year ago.
The number of shares outstanding for IBN has been increased compared to 5 years ago.
IBN has a better debt/assets ratio than last year.
2.2 Solvency
IBN has a debt to FCF ratio of 1.85. This is a very positive value and a sign of high solvency as it would only need 1.85 years to pay back of all of its debts.
IBN has a Debt to FCF ratio (1.85) which is in line with its industry peers.
A Debt/Equity ratio of 0.70 indicates that IBN is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.70, IBN is not doing good in the industry: 82.32% of the companies in the same industry are doing better.
Although IBN does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.7 | ||
| Debt/FCF | 1.85 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC4.41%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
IBN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 14.90%, which is quite good.
IBN shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 40.43% yearly.
The Revenue has grown by 22.36% in the past year. This is a very strong growth!
The Revenue has been growing by 14.35% on average over the past years. This is quite good.
EPS 1Y (TTM)14.9%
EPS 3Y25.97%
EPS 5Y40.43%
EPS Q2Q%14.04%
Revenue 1Y (TTM)22.36%
Revenue growth 3Y20.88%
Revenue growth 5Y14.35%
Sales Q2Q%10.65%
3.2 Future
The Earnings Per Share is expected to grow by 11.60% on average over the next years. This is quite good.
The Revenue is expected to grow by 15.15% on average over the next years. This is quite good.
EPS Next Y9.59%
EPS Next 2Y11.6%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year11%
Revenue Next 2Y12.77%
Revenue Next 3Y15.15%
Revenue Next 5YN/A
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
IBN is valuated rather expensively with a Price/Earnings ratio of 21.31.
Compared to the rest of the industry, the Price/Earnings ratio of IBN indicates a rather expensive valuation: IBN more expensive than 81.31% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 28.04, IBN is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 17.70, the valuation of IBN can be described as rather expensive.
Compared to the rest of the industry, the Price/Forward Earnings ratio of IBN indicates a slightly more expensive valuation: IBN is more expensive than 79.04% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of IBN to the average of the S&P500 Index (37.64), we can say IBN is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.31 | ||
| Fwd PE | 17.7 |
4.2 Price Multiples
74.24% of the companies in the same industry are more expensive than IBN, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.92 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates IBN does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)2.22
PEG (5Y)0.53
EPS Next 2Y11.6%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a yearly dividend of 0.74%, IBN is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 3.36, IBN's dividend is way lower than its industry peers. On top of this 84.34% of the companies listed in the same industry pay a better dividend than IBN!
With a Dividend Yield of 0.74, IBN pays less dividend than the S&P500 average, which is at 2.31.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.74% |
5.2 History
The dividend of IBN is nicely growing with an annual growth rate of 48.58%!
IBN has paid a dividend for at least 10 years, which is a reliable track record.
IBN has decreased its dividend recently.
Dividend Growth(5Y)48.58%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
IBN pays out 13.80% of its income as dividend. This is a sustainable payout ratio.
The dividend of IBN is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP13.8%
EPS Next 2Y11.6%
EPS Next 3YN/A
34.1
-0.15 (-0.44%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners51.7%
Inst Owner Change0.11%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap121.68B
Analysts87.44
Price Target38.83 (13.87%)
Short Float %0.64%
Short Ratio4.87
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.74% |
Yearly Dividend0.23
Dividend Growth(5Y)48.58%
DP13.8%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)2.25%
Min EPS beat(2)1.18%
Max EPS beat(2)3.31%
EPS beat(4)4
Avg EPS beat(4)3.19%
Min EPS beat(4)1.18%
Max EPS beat(4)4.73%
EPS beat(8)8
Avg EPS beat(8)3.57%
EPS beat(12)9
Avg EPS beat(12)2.36%
EPS beat(16)11
Avg EPS beat(16)1.24%
Revenue beat(2)0
Avg Revenue beat(2)-1.89%
Min Revenue beat(2)-2.18%
Max Revenue beat(2)-1.6%
Revenue beat(4)0
Avg Revenue beat(4)-2.37%
Min Revenue beat(4)-4.62%
Max Revenue beat(4)-1.11%
Revenue beat(8)2
Avg Revenue beat(8)3.12%
Revenue beat(12)6
Avg Revenue beat(12)43.15%
Revenue beat(16)10
Avg Revenue beat(16)68.09%
PT rev (1m)1.54%
PT rev (3m)-0.64%
EPS NQ rev (1m)6.59%
EPS NQ rev (3m)8.75%
EPS NY rev (1m)1.06%
EPS NY rev (3m)0.77%
Revenue NQ rev (1m)6.39%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.16%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.31 | ||
| Fwd PE | 17.7 | ||
| P/S | 5.12 | ||
| P/FCF | 8.92 | ||
| P/OCF | 8.57 | ||
| P/B | 3.35 | ||
| P/tB | 3.45 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.6
EY4.69%
EPS(NY)1.93
Fwd EY5.65%
FCF(TTM)3.82
FCFY11.21%
OCF(TTM)3.98
OCFY11.67%
SpS6.66
BVpS10.17
TBVpS9.9
PEG (NY)2.22
PEG (5Y)0.53
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.93% | ||
| ROE | 16.26% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 24.82% | ||
| GM | N/A | ||
| FCFM | 57.42% |
ROA(3y)1.85%
ROA(5y)1.63%
ROE(3y)16.47%
ROE(5y)14.97%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y4.78%
PM growth 5Y22.23%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.7 | ||
| Debt/FCF | 1.85 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | 177.3% | ||
| Cap/Sales | 2.32% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 231.31% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score6
WACC4.41%
ROIC/WACCN/A
Cap/Depr(3y)170.52%
Cap/Depr(5y)150.4%
Cap/Sales(3y)2.14%
Cap/Sales(5y)1.89%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)14.9%
EPS 3Y25.97%
EPS 5Y40.43%
EPS Q2Q%14.04%
EPS Next Y9.59%
EPS Next 2Y11.6%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)22.36%
Revenue growth 3Y20.88%
Revenue growth 5Y14.35%
Sales Q2Q%10.65%
Revenue Next Year11%
Revenue Next 2Y12.77%
Revenue Next 3Y15.15%
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-23.54%
FCF growth 3Y28.45%
FCF growth 5Y8.72%
OCF growth 1Y-22.3%
OCF growth 3Y28.74%
OCF growth 5Y9.07%