| Intrinsic Valuation of: ICICIBANK | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 74 | Market Cap | ₹9,982B | |||||
| 2021 | - | - (-) | P/E Ratio | 19 | Total Asset | ₹26,422B | |||||
| 2022 | ₹563B | - (-) | Net Income | ₹510B | Total Debt | ₹2,189B | |||||
| 2023 | ₹-62B | -111.1% (-109.6%) | EBITDA | - | Total Liab | ₹23,135B | |||||
| 2024 | ₹1,536B | 2562.1% (2149.4%) | Opr Margin | - | Debt/Equity | 0.67 | |||||
| 2025 | ₹1,180B | -23.2% (-39.7%) | PreTax Margin | - | BV/Share | 428 | |||||
| 5Y Average FCF | ₹804B | 809.3% (666.7%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.5% | Historical US Bond Yield: | 4.4% | ||||||||
| Discount Rate (WACC): | 7.4% | Current US Bond Yield: | 3.5% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (25.0%) | ||||||||||
| 2026 | ₹1,475B | MBG Intrinsic Value | ₹658 | ||||||||
| 2027 | ₹1,844B | ||||||||||
| 2028 | ₹2,305B | ||||||||||
| 2029 | ₹2,882B | ||||||||||
| 2030 | ₹3,602B | ||||||||||
| 2031 | ₹4,503B | ||||||||||
| Terminal Value | ₹93,616B | Net Worth/Share | ₹460 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹73,337B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹2,140B | ₹10,263 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹2,189B | WACC | 7.3% | 8,923 | 9,635 | 10,495 | 11,553 | 12,888 | |||
| Equity Value | ₹73,289B | 7.4% | 8,839 | 9,537 | 10,378 | 11,411 | 12,711 | ||||
| Shares Outstanding | 7,140,919,808 | 7.4% | 8,756 | 9,440 | 10,263 | 11,272 | 12,538 | ||||
| 7.9% | 8,001 | 8,565 | 9,234 | 10,038 | 11,024 | ||||||
| DCF Intrinsic Value | ₹10,263 | 8.4% | 7,356 | 7,828 | 8,380 | 9,033 | 9,819 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||