Company Valuation: Industrial and Commercial Bank of China Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,559,423 1,478,751 1,589,701 2,290,644 2,628,615 2,578,762 - -
Change - -5.17% 7.5% 44.09% 14.75% -1.9% - -
Enterprise Value (EV) 1,559,423 1,478,751 1,589,701 2,290,644 2,628,615 2,578,762 2,578,762 2,578,762
Change - -5.17% 7.5% 44.09% 14.75% -1.9% 0% 0%
P/E 3.77x 3.67x 3.54x 5x 5.65x 6.01x 5.76x 5.43x
PBR 0.44x 0.4x 0.36x 0.48x 0.52x 0.53x 0.5x 0.46x
PEG - 1.74x 3.43x - 2.77x 1.94x 1.32x 0.9x
Capitalization / Revenue 1.81x 1.76x 1.97x 2.91x 3.14x 3.04x 2.87x 2.65x
EV / Revenue 0x 0x 0x 0x 0x 3.04x 2.87x 2.65x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 4.33x 4.01x 3.74x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.2933 0.3035 0.3064 0.308 0.3103 0.3195 0.3337 0.3535
Rate of return 8.18% 8.54% 8.84% 6.29% 5.49% 5.16% 5.39% 5.71%
EPS 2 0.95 0.97 0.98 0.98 1 1.031 1.076 1.141
Distribution rate 30.9% 31.3% 31.3% 31.4% 31% 31% 31% 31%
Net sales 1 860,880 841,441 806,458 786,126 838,270 849,661 899,225 971,552
EBITDA - - - - - - - -
EBIT 1 624,653 600,557 567,760 543,971 558,971 595,940 643,569 690,184
Net income 1 338,731 360,483 363,993 365,863 368,562 369,994 384,797 405,550
Net Debt - - - - - - - -
Reference price 2 3.585 3.556 3.467 4.896 5.652 6.196 6.196 6.196
Nbr of stocks (in thousands) 356,406,257 356,406,257 356,406,257 356,406,257 356,406,257 356,406,257 - -
Announcement Date 3/30/22 A 3/30/23 A 3/27/24 A 3/28/25 A 3/27/26 A - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.1x - - 1.77% 947B
13.46x - - 1.87% 441B
6.01x - - 5.16% 382B
12.6x - - 4.16% 351B
5.78x - - 5.27% 303B
18.67x - - 2.28% 294B
11.99x - - 2.18% 265B
6.04x - - 5.21% 261B
14.49x - - 2.74% 254B
Average 11.46x 3.4% 388.62B
Weighted average by Cap. 11.91x 3.1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. 1398 Stock
  4. ICBC19 Stock
  5. Valuation Industrial and Commercial Bank of China Limited