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Earnings transcript
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IBN
ICICI Bank Limited
$26.29
0.59
(2.3%)
| Exchange: | NYSE |
| Market Cap: | 94.258B |
| Shares Outstanding: | 471.429M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Banks – Regional | |||||
| CEO: | Sandeep Bakhshi | |||||
| Full Time Employees: | 187765 | |||||
| Address: |
| |||||
| Website: | https://www.icicibank.com |
ICICI Bank Limited, a prominent financial institution with its various subsidiaries, delivers a comprehensive suite of banking and financial solutions. These services cater to both individual consumers (retail) and corporate entities, spanning operations across India and global markets. Its business activities are organized into distinct segments: Retail Banking, Wholesale Banking, Treasury operations, other banking functions, Life Insurance, and additional miscellaneous areas. The bank facilitates a wide array of deposit options, accommodating diverse account types such as savings, salary, pension, current, trade, escrow, foreign currency, and vostro accounts. Furthermore, it offers various deposit schemes, including time, fixed, recurring, and security deposits. ICICI Bank extends a broad spectrum of credit facilities. For individuals, these encompass financing for homes, automobiles, two-wheelers, personal needs, and gold, alongside commercial business loans and loans secured against various assets. Businesses benefit from offerings such as working capital finance, term loans, collateral-free credit, loans for entities without traditional financial records, import/export financing, and overdraft facilities. Additionally, the bank supports new businesses and provides loans based on card swipe transactions. Its card portfolio encompasses credit, debit, prepaid, travel, forex, and corporate cards. Digital solutions include the Pockets wallet. The bank also deals in fixed income instruments and a variety of investment products, such as mutual funds, gold monetization schemes, initial public offerings (IPOs), and other online investment platforms. Specific services target the agricultural and rural sectors, offering agri-business support, farmer finance, tractor loans, and micro-banking solutions. Beyond these, the institution delivers portfolio management, trade finance, foreign exchange services, locker facilities, specialized private and NRI (Non-Resident Indian) banking, and efficient cash management. It also supports family wealth management and dematerialized (Demat) accounts. For larger clients, it extends commercial and investment banking, capital market services, custodial services, and institutional banking. The bank facilitates access to various insurance products, including health, personal accident, fire, and motor insurance, and acts as a distributor for both general and life insurance policies. Customers can conveniently access banking services through internet, mobile, and phone channels. Through its various arms, ICICI Bank provides securities investment, broking, trading, and underwriting services. Its extensive offerings also cover merchant banking, trusteeship, housing finance, pension fund management, asset management, investment advisory, managing points of presence, and private equity/venture capital fund management. Established in 1955, the bank’s headquarters are situated in Mumbai, India.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 2,353,183,579 | 2,945,860,000 | 3,121,183,600 |
| Gross Profit | 1,602,466,252 | 2,006,535,300 | 2,174,509,500 |
| EBITDA | 635,040,159 | 1,647,212,100 | 804,428,300 |
| Operating Income | 615,081,303 | 730,042,100 | 773,201,800 |
| Net Income | 442,563,735 | 510,292,000 | 542,077,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Total Assets | 23,640,630,275 | 26,422,414,100 | 29,144,979,700 |
| Total Liabilities | 20,940,307,767 | 23,134,987,600 | 25,349,266,000 |
| Total Stockholders Equity | 2,561,438,346 | 3,139,059,100 | 3,630,604,100 |
| Total Debt | 2,009,987,053 | 2,188,834,400 | 2,202,642,800 |
| Cash and Cash Equivalents | 1,901,295,868 | 2,140,234,600 | 2,649,807,200 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Operating Cash Flow | 1,572,844,783 | -752,521,900 | 673,254,200 |
| Capital Expenditure | -36,785,464 | -47,700,000 | -37,300,000 |
| Free Cash Flow | 1,536,059,319 | -800,221,900 | 635,954,200 |
| Net Income | 442,563,735 | 510,292,000 | 735,916,400 |
| Net Change in Cash | 263,124,098 | 512,545,574 | 509,572,600 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 1,969,320,985.530 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 2,206,945,719.457 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 2,097,932,870.133 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 947,555,379.745 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 1,061,890,521.983 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 1,009,438,071.318 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 849,404,991.606 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 985,307,210.740 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 922,960,638.344 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 357,779,536.343 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 400,950,389.521 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 381,145,305.955 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 254.610 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 271.810 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 234.320 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 9 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 1 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: ICICI Bank reported a 6% year-on-year increase in core operating profit and a 2.5% sequential growth in Q3 FY2026, as highlighted in the earnings call transcript. This indicates consistent operational efficiency and profitability, supported by strong revenue and net income figures from income statements.
- Healthy Balance Sheet Metrics: The bank maintains a favorable current ratio (TTM) and quick ratio (TTM), reflecting solid liquidity to meet short-term obligations, as per key metrics data. Additionally, a reasonable debt-to-equity ratio (TTM) suggests balanced leverage.
- Strong Return Metrics: High ROE (TTM) and ROIC (TTM) demonstrate effective utilization of equity and invested capital, positioning IBN as a competitive player within the banking industry.
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Intrinsic Value Calculator
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Common questions about IBN valuation
Is ICICI Bank Limited (IBN) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for ICICI Bank Limited (IBN) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is IBN a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether IBN trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is IBN’s P/E ratio?
You can see IBN’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for IBN?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is IBN a good long-term investment?
Whether IBN fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
IBN
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Daily snapshot
2.3
Trading Metrics:
| Open: | 26.66 | Previous Close: | 25.7 | |
| Day Low: | 26.1 | Day High: | 26.66 | |
| Year Low: | 25.08 | Year High: | 34.57 | |
| Price Avg 50: | 26.59 | Price Avg 200: | 29.47 | |
| Volume: | 11.773M | Average Volume: | 7.126M |
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Login — it's freeIBN full analysis
Hey everyone, welcome back to the channel! Today, we’re diving deep into a comprehensive analysis of ICICI Bank, listed as IBN on the NYSE. If you’re looking to understand one of India’s leading private banks and whether it’s a solid addition to your portfolio, stick around. We’re covering everything from financials to valuation, recent performance, and more. Let’s get started! So, why are we talking about ICICI Bank today? Well, as one of the biggest players in India’s banking sector,…
