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 393 industry peers in the Banks industry. There are concerns on the financial health of IBN while its profitability can be described as average. IBN is valued quite expensive, but it does show an excellent growth.
1. Profitability
1.1 Basic Checks
IBN had positive earnings in the past year.
IBN had a positive operating cash flow in the past year.
Each year in the past 5 years IBN has been profitable.
IBN had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 1.93%, IBN belongs to the top of the industry, outperforming 96.18% of the companies in the same industry.
IBN's Return On Equity of 16.26% is amongst the best of the industry. IBN outperforms 94.91% of its industry peers.
| 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
The Profit Margin of IBN (24.82%) is comparable to the rest of the industry.
In the last couple of years the Profit Margin of IBN has grown nicely.
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.
Compared to 1 year ago, IBN has more shares outstanding
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.
With a Debt to FCF ratio value of 1.85, IBN perfoms like the industry average, outperforming 51.15% of the companies in the same industry.
A Debt/Equity ratio of 0.70 indicates that IBN is somewhat dependend on debt financing.
The Debt to Equity ratio of IBN (0.70) is worse than 82.19% of its industry peers.
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
WACC4.4%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 14.90% over the past year.
The Earnings Per Share has been growing by 40.43% on average over the past years. This is a very strong growth
Looking at the last year, IBN shows a very strong growth in Revenue. The Revenue has grown by 22.36%.
IBN shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 14.35% yearly.
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
Based on estimates for the next years, IBN will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.60% on average per year.
The Revenue is expected to grow by 13.78% 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 Year8.63%
Revenue Next 2Y11.88%
Revenue Next 3Y13.78%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 21.29, which indicates a rather expensive current valuation of IBN.
IBN's Price/Earnings ratio is rather expensive when compared to the industry. IBN is more expensive than 81.93% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.82, IBN is valued a bit cheaper.
With a Price/Forward Earnings ratio of 17.68, IBN is valued on the expensive side.
IBN's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. IBN is more expensive than 77.86% of the companies in the same industry.
IBN is valuated cheaply when we compare the Price/Forward Earnings ratio to 36.21, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.29 | ||
| Fwd PE | 17.68 |
4.2 Price Multiples
Based on the Price/Free Cash Flow ratio, IBN is valued a bit cheaper than the industry average as 71.50% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.91 | ||
| 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 0.75%, IBN is not a good candidate for dividend investing.
With a Dividend Yield of 0.75, IBN pays less dividend than the industry average, which is at 3.48. 84.73% of the companies listed in the same industry pay a better dividend than IBN!
Compared to an average S&P500 Dividend Yield of 2.39, IBN's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.75% |
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
13.80% of the earnings are spent on dividend by IBN. This is a low number and 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
33.64
-0.06 (-0.18%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners51.7%
Inst Owner Change0.24%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap120.05B
Analysts87.44
Price Target38.83 (15.43%)
Short Float %0.55%
Short Ratio4.37
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.75% |
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 | 21.29 | ||
| Fwd PE | 17.68 | ||
| P/S | 5.12 | ||
| P/FCF | 8.91 | ||
| P/OCF | 8.56 | ||
| P/B | 3.35 | ||
| P/tB | 3.44 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.58
EY4.7%
EPS(NY)1.9
Fwd EY5.66%
FCF(TTM)3.78
FCFY11.22%
OCF(TTM)3.93
OCFY11.68%
SpS6.57
BVpS10.04
TBVpS9.77
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
WACC4.4%
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 Year8.63%
Revenue Next 2Y11.88%
Revenue Next 3Y13.78%
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%