ICICI Bank Limited
Financial ratios & Valuation

Forward Multiples (2026 – 2028)

202620272028
Price/Earnings ratio
0.220.200.16
Price/Sales ratio
0.090.070.06
Earnings per Share (EPS)
$143.28$161.41$197.07

Historical Multiples (2010 – 2022)

2010 2011 2012 2016 2017 2019 2020 2022 TTM Median
Valuation Ratios
Price/Earnings ratio
25.7023.3518.5514.2716.7662.8422.5619.8538.6514.27
Price/Sales ratio
N/AN/A3.452.152.172.902.054.283.712.15
Price/Book Value ratio
2.282.512.311.541.632.331.752.736.531.54
Price/Cash Flow ratio
4.06-39.116.786.143.245.492.718.57N/A3.24
Price/Free Cash Flow ratio
4.15-31.396.996.373.325.622.778.86N/A3.32
Price/Earnings Growth ratio
0.840.760.77-0.82-267.09-1.320.160.60-0.01-0.82
Dividend Yield
1.19%1.09%1.34%2.37%2.00%0.43%0.41%0.27%0.00%2.00%
Profitability Indicator Ratios
Gross Profit Margin
N/AN/AN/A100%100%100%100%100%109.00%100%
Operating Profit Margin
N/AN/AN/A70.55%60.45%5.34%10.51%22.15%19.77%60.45%
Pretax Profit Margin
N/AN/A19.36%21.22%17.57%8.04%17.68%30.07%27.20%21.22%
Net Profit Margin
N/AN/A18.64%15.10%12.96%4.61%9.10%21.57%19.18%15.10%
Effective Tax Rate
26.37%24.69%N/A23.61%17.87%23.20%39.61%24.16%25.40%23.61%
Return on Assets
0.95%1.14%1.26%1.10%1.03%0.34%0.69%1.43%1.88%1.10%
Return On Equity
8.88%10.75%12.47%10.81%9.73%3.72%7.77%13.79%17.99%10.81%
Return on Capital Employed
1.39%1.65%N/A5.20%4.83%0.39%0.80%1.47%1.94%4.83%
Liquidity Ratios
Current Ratio
2.571.410.03N/AN/AN/AN/AN/AN/AN/A
Quick Ratio
2.571.41N/A40.7642.6931.5484.69393.56N/A42.69
Cash ratio
2.571.41N/A14.8522.5115.6741.6366.53N/A22.51
Days of Sales Outstanding
N/AN/A47.75N/AN/AN/AN/AN/AN/AN/A
Days of Inventory outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Operating Cycle
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Days of Payables Outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Cash Conversion Cycle
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Debt Ratios
Debt Ratio
0.890.890.890.220.180.160.150.050.080.18
Debt Equity Ratio
8.308.428.832.201.771.751.730.520.781.77
Long-term Debt to Capitalization
0.640.630.690.680.630.630.630.340.430.63
Total Debt to Capitalization
N/AN/A0.690.680.640.630.630.340.430.64
Interest Coverage Ratio
0.310.430.42N/AN/AN/AN/AN/A0.58N/A
Cash Flow to Debt Ratio
0.30-0.030.140.110.280.240.370.61N/A0.28
Company Equity Multiplier
9.309.429.869.769.4210.8411.209.628.989.42
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
N/AN/A0.500.350.660.520.750.49N/A0.66
Free Cash Flow / Operating Cash Flow Ratio
0.971.240.970.960.970.970.970.96N/A0.97
Cash Flow Coverage Ratio
N/AN/A0.140.110.280.240.370.61N/A0.28
Short Term Coverage Ratio
N/AN/A16.02N/A43.60N/AN/AN/AN/A43.60
Dividend Payout Ratio
30.72%25.54%24.87%33.91%33.59%27.47%9.26%5.51%N/A33.59%