| Intrinsic Valuation of: ICICIBANK | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2021 | - | - | EPS (FY) | 75 | Market Cap | ₹8,921B | |||||
| 2022 | - | - (-) | P/E Ratio | 17 | Total Asset | ₹29,145B | |||||
| 2023 | ₹-62B | - (-) | Net Income | ₹542B | Total Debt | ₹2,203B | |||||
| 2024 | ₹1,536B | 2562.1% (2190.6%) | EBITDA | - | Total Liab | ₹25,349B | |||||
| 2025 | ₹1,180B | -23.2% (-42.7%) | Opr Margin | - | Debt/Equity | 0.58 | |||||
| 2026 | ₹636B | -46.1% (-50.4%) | PreTax Margin | - | BV/Share | 492 | |||||
| 5Y Average FCF | ₹822B | 15.0% (699.2%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.48% | Historical US Bond Yield: | 4.40% | ||||||||
| Discount Rate (WACC): | 7.49% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (15.0%) | ||||||||||
| 2027 | ₹897B | MBG Intrinsic Value | ₹669 | ||||||||
| 2028 | ₹1,010B | ||||||||||
| 2029 | ₹1,110B | ||||||||||
| 2030 | ₹1,194B | ||||||||||
| 2031 | ₹1,253B | ||||||||||
| 2032 | ₹1,284B | ||||||||||
| Terminal Value | ₹26,263B | Net Worth/Share | ₹529 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹22,229B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹2,650B | ₹3,163 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹2,203B | WACC | 6.5% | 3,294 | 3,582 | 3,942 | 4,404 | 5,019 | |||
| Equity Value | ₹22,676B | 7.2% | 2,864 | 3,072 | 3,323 | 3,633 | 4,025 | ||||
| Shares Outstanding | 7,168,670,892 | 8.0% | 2,533 | 2,689 | 2,872 | 3,092 | 3,361 | ||||
| 8.7% | 2,274 | 2,394 | 2,533 | 2,697 | 2,891 | ||||||
| DCF Intrinsic Value | ₹3,163 | 9.5% | 2,061 | 2,155 | 2,263 | 2,388 | 2,533 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||