Projected Income Statement: Industrial and Commercial Bank of China Limited

Forecast Balance Sheet: Industrial and Commercial Bank of China Limited

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt - - - - - - - -
Change - - - - - - - -
Announcement Date 30/03/22 30/03/23 27/03/24 28/03/25 27/03/26 - - -
Estimates

Cash Flow Forecast: Industrial and Commercial Bank of China Limited

Fiscal Period: December 2020 2021 2022 2023 2024 2025
CAPEX 1 38,005 27,584 23,128 31,201 43,297 48,979
Change - -27.42% -16.15% 34.91% 38.77% 13.12%
Free Cash Flow (FCF) 1 - - - - - -
Change - - - - - -
Announcement Date 23/04/21 27/04/22 26/04/23 26/04/24 28/03/25 27/03/26
1CNY in Million
Estimates

Forecast Financial Ratios: Industrial and Commercial Bank of China Limited

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

         
EBITDA Margin (%) - - - - - - - - -
EBIT Margin (%) - 72.56% 71.37% 70.4% 69.2% 69.19% 68.01% 68.26% 68.99%
EBT Margin (%) - 49.36% 50.22% 52.32% 53.66% 52.96% 51.03% 50.6% 50.73%
Net margin (%) - 39.35% 42.84% 45.13% 46.54% 45.99% 43.6% 43.34% 42.65%
FCF margin (%) - - - - - - - - -
FCF / Net Income (%) - - - - - - - - -

Profitability

         
ROA - 1.02% 0.97% 0.87% 0.98% 0.72% 0.67% 0.65% 0.64%
ROE - 12.15% 11.43% 10.66% 9.88% 9.45% 8.79% 8.54% 8.6%

Financial Health

         
Leverage (Debt/EBITDA) - - - - - - - - -
Debt / Free cash flow - - - - - - - - -

Capital Intensity

         
CAPEX / Current Assets (%) - - - - - - - - -
CAPEX / EBITDA (%) - - - - - - - - -
CAPEX / FCF (%) - - - - - - - - -

Items per share

         
Cash flow per share 1 - - - - - - - - -
Change - - - - - - - - -
Dividend per Share 1 - 0.2933 0.3035 0.3064 0.308 0.3103 0.3182 0.3302 0.3524
Change - - 3.48% 0.96% 0.52% 0.75% 2.56% 3.76% 6.74%
Book Value Per Share 1 - 8.15 8.81 9.55 10.23 10.83 11.75 12.64 13.33
Change - - 8.1% 8.4% 7.12% 5.87% 8.5% 7.54% 5.45%
EPS 1 - 0.95 0.97 0.98 0.98 1 1.03 1.068 1.134
Change - - 2.11% 1.03% 0% 2.04% 3.03% 3.62% 6.22%
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 35,64,06,257 35,64,06,257
Announcement Date - 30/03/22 30/03/23 27/03/24 28/03/25 27/03/26 - - -
1CNY
Estimates
2026 *2027 *
P/E ratio 5.9x 5.69x
PBR 0.52x 0.48x
EV / Sales 2.94x 2.81x
Yield 5.24% 5.43%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
-
Global
-
Quality
ESG MSCI
-
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
6.077CNY
Average target price
6.648CNY
Spread / Average Target
+9.40%

Quarterly revenue - Rate of surprise

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