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 2,940,457 - -
Change - -5.17% 7.5% 44.09% 14.75% 11.86% - -
Enterprise Value (EV) 1,559,423 1,478,751 1,589,701 2,290,644 2,628,615 2,940,457 2,940,457 2,940,457
Change - -5.17% 7.5% 44.09% 14.75% 11.86% 0% 0%
P/E 3.77x 3.67x 3.54x 5x 5.65x 6.48x 6.19x 5.78x
PBR 0.44x 0.4x 0.36x 0.48x 0.52x 0.57x 0.54x 0.5x
PEG - 1.74x 3.43x - 2.77x 1.94x 1.3x 0.82x
Capitalization / Revenue 1.81x 1.76x 1.97x 2.91x 3.14x 3.37x 3.19x 2.95x
EV / Revenue 0x 0x 0x 0x 0x 3.37x 3.19x 2.95x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 4.9x 4.53x 4.17x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.2933 0.3035 0.3064 0.308 0.3103 0.3214 0.3376 0.3591
Rate of return 8.18% 8.54% 8.84% 6.29% 5.49% 4.8% 5.04% 5.36%
EPS 2 0.95 0.97 0.98 0.98 1 1.033 1.083 1.159
Distribution rate 30.9% 31.3% 31.3% 31.4% 31% 31.1% 31.2% 31%
Net sales 1 860,880 841,441 806,458 786,126 838,270 871,376 921,616 995,316
EBITDA - - - - - - - -
EBIT 1 624,653 600,557 567,760 543,971 558,971 599,691 649,075 705,509
Net income 1 338,731 360,483 363,993 365,863 368,562 373,151 391,333 415,439
Net Debt - - - - - - - -
Reference price 2 3.585 3.556 3.467 4.896 5.652 6.698 6.698 6.698
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 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.($)
6.48x - - 4.8% 442B
13.54x - - 1.89% 895B
7x - - 4.54% 386B
11.39x - - 2.39% 346B
6.51x - - 4.77% 353B
6.86x - - 4.66% 320B
10.62x - - 4.94% 293B
17.49x - - 2.41% 282B
11.36x - - 2.27% 250B
13.56x - - 2.89% 246B
Average 10.48x 3.56% 381.24B
Weighted average by Cap. 10.58x 3.4%

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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