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 15,59,423 14,78,751 15,89,701 22,90,644 26,28,615 27,94,309 - -
Change - -5.17% 7.5% 44.09% 14.75% 6.3% - -
Enterprise Value (EV) 15,59,423 14,78,751 15,89,701 22,90,644 26,28,615 27,94,309 27,94,309 27,94,309
Change - -5.17% 7.5% 44.09% 14.75% 6.3% 0% 0%
P/E 3.77x 3.67x 3.54x 5x 5.65x 6.27x 5.99x 5.61x
PBR 0.44x 0.4x 0.36x 0.48x 0.52x 0.55x 0.52x 0.48x
PEG - 1.74x 3.43x - 2.77x 1.9x 1.27x 0.83x
Capitalization / Revenue 1.81x 1.76x 1.97x 2.91x 3.14x 3.24x 3.07x 2.84x
EV / Revenue 0x 0x 0x 0x 0x 3.24x 3.07x 2.84x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 4.59x 4.33x 3.96x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.2933 0.3035 0.3064 0.308 0.3103 0.3204 0.3346 0.3547
Rate of return 8.18% 8.54% 8.84% 6.29% 5.49% 4.95% 5.17% 5.48%
EPS 2 0.95 0.97 0.98 0.98 1 1.033 1.082 1.155
Distribution rate 30.9% 31.3% 31.3% 31.4% 31% 31% 30.9% 30.7%
Net sales 1 8,60,880 8,41,441 8,06,458 7,86,126 8,38,270 8,63,169 9,11,206 9,84,040
EBITDA - - - - - - - -
EBIT 1 6,24,653 6,00,557 5,67,760 5,43,971 5,58,971 6,09,023 6,44,902 7,06,320
Net income 1 3,38,731 3,60,483 3,63,993 3,65,863 3,68,562 3,71,166 3,87,106 4,10,661
Net Debt - - - - - - - -
Reference price 2 3.585 3.556 3.467 4.896 5.652 6.476 6.476 6.476
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 - -
Announcement Date 30/03/22 30/03/23 27/03/24 28/03/25 27/03/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.08x - - 1.92% 88TCr
6.27x - - 4.95% 42TCr
11.79x - - 2.21% 38TCr
6.68x - - 4.76% 36TCr
11.99x - - 4.36% 33TCr
6.2x - - 4.98% 33TCr
6.81x - - 4.67% 30TCr
17.2x - - 2.45% 27TCr
14.43x - - 2.73% 26TCr
Average 10.49x 3.67% 39.28TCr
Weighted average by Cap. 10.62x 3.45%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Industrial and Commercial Bank of China Limited

Historical PBR trend

Valuation ratios - PBR - Industrial and Commercial Bank of China Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Industrial and Commercial Bank of China Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Industrial and Commercial Bank of China Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - Industrial and Commercial Bank of China Limited
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