Financials Industrial and Commercial Bank of China Limited BOERSE MUENCHEN

Equities

ICK

CNE1000003G1

Banks

Market Closed - BOERSE MUENCHEN 01:13:31 06/07/2024 am IST 5-day change 1st Jan Change
0.55 EUR -2.86% Intraday chart for Industrial and Commercial Bank of China Limited -1.79% +22.93%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 20,50,257 17,12,192 15,59,687 14,76,442 15,91,798 19,51,433 - -
Enterprise Value (EV) 1 20,50,257 17,12,192 15,59,687 14,76,442 15,91,798 19,51,433 19,51,433 19,51,433
P/E ratio 6.23 x 4.92 x 3.77 x 3.66 x 3.54 x 4.44 x 4.3 x 4.15 x
Yield 4.9% 6.21% 8.18% 8.55% 8.82% 7.06% 7.18% 7.49%
Capitalization / Revenue 2.4 x 1.94 x 1.81 x 1.75 x 1.97 x 2.45 x 2.33 x 2.23 x
EV / Revenue 2.4 x 1.94 x 1.81 x 1.75 x 1.97 x 2.45 x 2.33 x 2.23 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.77 x 0.57 x 0.44 x 0.4 x 0.36 x 0.42 x 0.39 x 0.37 x
Nbr of stocks (in thousands) 35,64,06,257 35,64,06,257 35,64,06,257 35,64,06,257 35,64,06,257 35,64,06,257 - -
Reference price 2 5.362 4.234 3.585 3.550 3.472 4.373 4.373 4.373
Announcement Date 27/03/20 26/03/21 30/03/22 30/03/23 27/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 8,55,164 8,82,665 8,60,880 8,41,441 8,06,458 7,97,713 8,36,118 8,76,049
EBITDA - - - - - - - -
EBIT 1 5,68,226 3,91,382 6,24,653 6,00,557 5,67,760 5,61,480 5,87,291 6,27,388
Operating Margin 66.45% 44.34% 72.56% 71.37% 70.4% 70.39% 70.24% 71.62%
Earnings before Tax (EBT) 1 3,91,789 3,92,126 4,24,899 4,22,565 4,21,966 4,20,010 4,36,793 4,48,790
Net income 1 3,07,699 3,15,906 3,38,731 3,60,483 3,63,993 3,55,741 3,67,197 3,80,422
Net margin 35.98% 35.79% 39.35% 42.84% 45.13% 44.6% 43.92% 43.42%
EPS 2 0.8600 0.8600 0.9500 0.9700 0.9800 0.9855 1.017 1.055
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.2628 0.2628 0.2933 0.3035 0.3064 0.3086 0.3141 0.3274
Announcement Date 27/03/20 26/03/21 30/03/22 30/03/23 27/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2021 S1 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 S1 2025 S2
Net sales 1 3,81,799 4,02,346 4,26,406 2,16,985 - 2,16,930 4,43,788 - 1,90,322 - 2,10,445 - 1,94,614 1,82,938 - 2,10,165 1,93,636 - 1,92,958 1,77,235 - - -
EBITDA - - - - - - - - - - - - - - - - - - - - - - -
EBIT 1 2,61,177 3,14,421 3,31,415 1,30,651 - 1,59,415 3,40,615 - 1,12,308 - 1,53,019 - 1,34,997 1,09,236 - 1,61,580 1,40,955 - 1,34,280 1,06,505 - - -
Operating Margin 68.41% 78.15% 77.72% 60.21% - 73.49% 76.75% - 59.01% - 72.71% - 69.37% 59.71% - 76.88% 72.79% - 69.59% 60.09% - - -
Earnings before Tax (EBT) 1,82,580 1,89,351 - - - - - - 1,00,388 - 97,069 - 1,10,590 1,07,721 - 1,02,455 - - - - - - -
Net income 1,39,768 1,48,790 1,63,473 - - - - - 94,661 - 83,580 - 94,929 95,320 - 87,653 - - - - - - -
Net margin 36.61% 36.98% 38.34% - - - - - 49.74% - 39.72% - 48.78% 52.11% - 41.71% - - - - - - -
EPS 2 - - - 0.2600 0.2500 - - 0.2400 0.2600 0.2500 0.2300 0.4800 0.2400 0.2600 0.5000 0.2400 0.2600 0.4800 0.2500 0.2500 0.5400 0.4900 0.5600
Dividend per Share - - - - - - - - - - - - - - - - - - - - - - -
Announcement Date 27/03/20 30/08/20 27/08/21 30/03/22 29/04/22 30/08/22 30/08/22 28/10/22 30/03/23 28/04/23 30/08/23 30/08/23 27/10/23 27/03/24 27/03/24 29/04/24 - - - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 13.1% 12% 12.2% 11.4% 10.7% 9.73% 9.43% 9.09%
ROA (Net income/ Total Assets) 1.08% 1% 1.02% 0.97% 0.87% 0.77% 0.73% 0.67%
Assets 1 2,84,90,648 3,17,17,470 3,32,08,922 3,71,63,196 4,18,38,276 4,61,65,986 5,03,85,110 5,64,70,966
Book Value Per Share 2 6.930 7.480 8.150 8.810 9.550 10.40 11.10 11.90
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 27/03/20 26/03/21 30/03/22 30/03/23 27/03/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
19
Last Close Price
4.373 CNY
Average target price
4.723 CNY
Spread / Average Target
+8.00%
Consensus
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