Industrial and Commercial Bank of China Limited

SEHK-1398

Basic

Market Cap
HK$2,140.81B
EV
—
Shares Out
356.41B
Revenue
CN¥653.59B
Employees
419,252

Margins

Gross
—
EBITDA
—
Operating
—
Pre-Tax
63.93%
Net
55.31%
FCF
-195.2%

Returns (5Yr Avg)

ROA
0.96%
ROTA
11.18%
ROE
11.15%
ROCE
—
ROIC
1.15%

Valuation (TTM)

P/E
—
P/B
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
HK$5.08
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
—
Net Debt
-CN¥3,966.47B
Debt/Equity
—
EBIT/Interest
—

Growth (CAGR)

Rev 3Yr
2.56%
Rev 5Yr
1.13%
Rev 10Yr
—
Dil EPS 3Yr
4.05%
Dil EPS 5Yr
3.15%
Dil EPS 10Yr
2.46%
Rev Fwd 2Yr
1.58%
EBITDA Fwd 2Yr
—
EPS Fwd 2Yr
1.94%
EPS LT Growth Est
1.5%

Dividends

Yield
—
Payout
31.62%
DPS
CN¥0.31
DPS Growth 3Yr
4.83%
DPS Growth 5Yr
4.1%
DPS Growth 10Yr
1.59%
DPS Growth Fwd 2Yr
1.19%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Interest Income On Loans						1,063,445	1,092,521	1,162,218	1,278,674	1,405,039	1,426,884
Interest Income, Total						1,063,445	1,092,521	1,162,218	1,278,674	1,405,039	1,426,884
Interest On Deposits						431,228	445,756	471,538	586,689	750,026	778,882
Interest Expense, Total						431,228	445,756	471,538	586,689	750,026	778,882
Net Interest Income						632,217	646,765	690,680	691,985	655,013	648,002
Income From Trading Activities				—	—	8,447	2,222	8,955	8,308	14,928	14,788
Gain (Loss) on Sale of Assets					—	1,264	1,323	2,182	1,590	1,925	1,925
Gain (Loss) on Sale of Invest. & Securities					—	-3,682	11,829	16,440	7,906	21,560	21,560
Income (Loss) on Equity Invest.	—	—	—			—	—	—	—	—	—
Total Other Non Interest Income						137,756	137,936	142,623	132,563	113,032	111,887
Non Interest Income, Total						143,785	153,310	170,200	150,367	151,445	150,160
Revenues Before Provison For Loan Losses						776,002	800,075	860,880	842,352	806,458	798,162
Provision For Loan Losses						175,479	198,858	202,623	179,200	149,519	144,572
Total Revenues						600,523	601,217	658,257	663,152	656,939	653,590
Total Revenues % Chg.						-2.4%	0.1%	9.5%	0.7%	-0.9%	-1.1%
Salaries And Other Employee Benefits				—	—	126,950	126,572	139,363	142,633	141,405	141,405
Amort. of Goodwill & Intang. Assets				—	—	2,315	2,607	3,125	3,716	4,429	4,429
Occupancy Expense				—	—	27,713	27,960	28,822	28,822	28,534	28,534
Selling General & Admin Expenses, Total						—	—	—	—	—	—
(Income) Loss on Equity Invest.				—	—	-2,520	-1,304	-2,869	-4,396	-5,022	-4,872
Total Other Non Interest Expense						50,798	49,446	64,917	64,180	64,330	64,962
Non Operating (Income) Expenses	—	—	—	—		—	—	—	—	—	—
Non Interest Expense, Total						205,256	205,281	233,358	234,955	233,676	234,458
EBT, Excl. Unusual Items						395,267	395,936	424,899	428,197	423,263	419,132
Impairment of Goodwill	—		—	—	—	—	—	—	—	—	—
Asset Writedown						-3,478	-3,810	—	-3,477	-1,297	-1,297
Other Unusual Items	—	—	—		—	—	—	—	—	—	—
EBT, Incl. Unusual Items						391,789	392,126	424,899	424,720	421,966	417,835
Income Tax Expense						78,428	74,441	74,683	62,610	56,850	55,427
Earnings From Continuing Operations						313,361	317,685	350,216	362,110	365,116	362,408
Minority Interest						-1,137	-1,779	-1,878	-978	-1,123	-926
Net Income						312,224	315,906	348,338	361,132	363,993	361,482
Preferred Dividend and Other Adjustments	—					4,525	8,839	9,607	14,810	14,964	14,964
Net Income to Common Incl Extra Items						307,699	307,067	338,731	346,322	349,029	346,518
Net Income to Common Excl. Extra Items						307,699	307,067	338,731	346,322	349,029	346,518
Total Shares Outstanding						356,406.3	356,406.3	356,406.3	356,406.3	356,406.3	356,406.3
Weighted Avg. Shares Outstanding						356,407	356,407	356,407	356,407	356,407	357,548.2
Weighted Avg. Shares Outstanding Dil						356,407	356,407	356,407	356,407	356,407	357,548.2
EPS						0.9	0.9	1	1	1	1
EPS Diluted						0.9	0.9	1	1	1	1
Effective Tax Rate						20%	19%	17.6%	14.7%	13.5%	13.3%