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Intermediate Capital
(LSE:ICG)
Intermediate Capital (ICG) vs. iShares MSCI United Kingdom ETF (EWC)
Intermediate Capital Business Overview & Revenue Model
Intermediate Capital Earnings Call Summary
Intermediate Capital Financial Statement Overview
| Breakdown | TTM | Mar 2025 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.12B | 990.40M | 981.70M | 989.50M | 672.40M | 256.30M |
| Gross Profit | 1.11B | 951.40M | 963.70M | 934.70M | 656.80M | 246.00M |
| EBITDA | 756.80M | 548.30M | 598.70M | 637.10M | 585.30M | 124.50M |
| Net Income | 596.00M | 451.20M | 473.40M | 526.80M | 457.10M | 108.90M |
Balance Sheet | ||||||
| Total Assets | 9.95B | 9.34B | 9.12B | 8.87B | 7.46B | 7.02B |
| Cash, Cash Equivalents and Short-Term Investments | 1.25B | 604.80M | 990.00M | 761.50M | 296.90M | 947.90M |
| Total Debt | 6.97B | 6.11B | 6.13B | 6.02B | 5.20B | 1.93B |
| Total Liabilities | 7.34B | 6.85B | 6.82B | 6.87B | 5.84B | 5.71B |
| Stockholders Equity | 2.61B | 2.49B | 2.30B | 1.97B | 1.62B | 1.31B |
Cash Flow | ||||||
| Free Cash Flow | 33.40M | 129.50M | 246.40M | 235.60M | 100.20M | 290.80M |
| Operating Cash Flow | 33.80M | 136.10M | 255.90M | 243.40M | 111.00M | 300.90M |
| Investing Cash Flow | 814.50M | 276.10M | 71.50M | 45.50M | 64.70M | -74.00M |
| Financing Cash Flow | -425.70M | -524.60M | -282.50M | 111.30M | -653.30M | 471.20M |
Intermediate Capital Technical Analysis
Intermediate Capital Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | £29.84B | 3.00 | 25.05% | 2.44% | 62.80% | 48.86% | |
77 Outperform | £3.59B | ― | 6.50% | 7.21% | -7.11% | 0.45% | |
76 Outperform | £8.85B | 11.95 | 12.35% | 5.37% | 4.78% | -4.86% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | £4.29B | 5.37 | 23.35% | 4.13% | 28.34% | 44.04% | |
61 Neutral | £6.88B | 6.43 | -1.53% | 7.09% | 9.86% | -134.41% | |
54 Neutral | £1.99B | 18.07 | 6.88% | 2.85% | 62.91% | -15.13% |
Intermediate Capital Corporate Events
Intermediate Capital Group has announced changes to its board, appointing experienced private markets executive Jonathon Bond as an Independent Non-Executive Director from 1 April 2026, when he will also join the Remuneration Committee. Bond brings over 25 years of global alternative investment experience, including senior roles at Grosvenor, Actis and HSBC Private Equity, bolstering ICG’s governance and strategic oversight in private markets.
As part of a planned refresh of non-executive leadership, long-serving directors Stephen Welton and Rosemary Leith will retire at the 15 July 2026 AGM, with Welton stepping down in line with UK Corporate Governance Code tenure guidance and Leith leaving due to other commitments. Risk Committee member Sonia Baxendale will succeed Leith as Chair of that committee, signalling a managed transition designed to maintain board continuity, regulatory compliance and robust risk oversight during a period of sustained growth for ICG.
The most recent analyst rating on (GB:ICG) stock is a Hold with a £1797.00 price target. To see the full list of analyst forecasts on Intermediate Capital stock, see the GB:ICG Stock Forecast page.
ICG has repurchased 148,143 ordinary shares on the London Stock Exchange under its recently announced buyback programme, paying a volume-weighted average price of 1,601.32 pence per share. The shares will be held in treasury and cancelled in tranches at least twice a year, leaving 289,718,581 shares in issue and 4,655,043 held in treasury.
The buyback is designed to support ICG’s strategic partnership with Amundi by allowing the company to issue an equivalent number of non-voting shares to the asset manager on a non-dilutive basis for existing shareholders. The move underscores ICG’s use of balance sheet flexibility to facilitate strategic growth initiatives while aiming to protect shareholder value and manage its capital structure actively.
The most recent analyst rating on (GB:ICG) stock is a Hold with a £1797.00 price target. To see the full list of analyst forecasts on Intermediate Capital stock, see the GB:ICG Stock Forecast page.
ICG plc has repurchased 145,593 ordinary shares on the London Stock Exchange under its previously announced share buyback programme, paying between 1,624.00p and 1,663.00p per share, with a volume-weighted average price of 1,644.89p. The shares, acquired via BofA Securities, will be held in treasury and periodically cancelled, supporting a non-dilutive structure for issuing non-voting shares to Amundi as part of ICG’s strategic partnership and leaving 289,866,724 ordinary shares in issue and 4,506,900 in treasury.
The buyback is designed to facilitate ICG’s collaboration with Amundi in a way that avoids diluting existing shareholders, reinforcing the capital management framework underpinning the partnership. By committing to cancel the repurchased shares in tranches at least twice a year, ICG signals disciplined balance-sheet management and a shareholder-friendly approach that may bolster investor confidence in its long-term strategic alignment with Amundi.
The most recent analyst rating on (GB:ICG) stock is a Hold with a £1797.00 price target. To see the full list of analyst forecasts on Intermediate Capital stock, see the GB:ICG Stock Forecast page.
ICG plc has repurchased 148,018 ordinary shares on the London Stock Exchange under its recently announced share buyback programme, paying a volume-weighted average price of 1,625.39 pence per share. The shares will be held in treasury and progressively cancelled at least twice a year, with no other use before cancellation.
The buyback is designed to support ICG’s strategic partnership with Amundi by enabling the issuance of an equivalent number of non-voting shares to Amundi on a non-dilutive basis for existing shareholders. Following this latest transaction, ICG has 290,012,317 ordinary shares in issue excluding treasury and 4,361,307 ordinary shares held in treasury, underscoring its ongoing capital management and shareholder value strategy.
The most recent analyst rating on (GB:ICG) stock is a Hold with a £1797.00 price target. To see the full list of analyst forecasts on Intermediate Capital stock, see the GB:ICG Stock Forecast page.
ICG plc has repurchased 144,295 ordinary shares on the London Stock Exchange as part of its previously announced share buyback programme, executed through Merrill Lynch International. The bought-back shares, with prices ranging between 1,569.00 pence and 1,616.00 pence and a volume-weighted average of 1,584.86 pence, will be held in treasury and cancelled in tranches at least twice a year.
The buyback is designed to facilitate the issuance of an equivalent number of non-voting shares to Amundi under their strategic partnership, in a way that avoids diluting existing shareholders. Following this transaction, ICG has 290,160,335 ordinary shares in issue excluding treasury shares and 4,213,289 shares held in treasury, underscoring the company’s ongoing use of capital management tools to support strategic growth while protecting shareholder value.
The most recent analyst rating on (GB:ICG) stock is a Hold with a £1797.00 price target. To see the full list of analyst forecasts on Intermediate Capital stock, see the GB:ICG Stock Forecast page.
ICG plc has disclosed that John Lester & Son Limited, a company closely associated with non-executive director Matthew Lester, has purchased a total of 1,528 ICG ordinary shares on 2 and 3 March 2026. The transactions, executed on the London Stock Exchange at prices of £16.59 and £15.84 per share, have been reported in line with UK Market Abuse Regulation requirements, underscoring ongoing director-related share dealing transparency.
The disclosure signals continued alignment of board-linked interests with those of shareholders, as parties connected to a non-executive director increase their stake in the firm. Such purchases are often scrutinized by investors as potential indicators of confidence in the company’s prospects and governance, although the announcement itself does not provide commentary on strategic or operational implications.
The most recent analyst rating on (GB:ICG) stock is a Hold with a £1797.00 price target. To see the full list of analyst forecasts on Intermediate Capital stock, see the GB:ICG Stock Forecast page.
Intermediate Capital Group (ICG) has disclosed that non-executive director Sonia Baxendale purchased 5,000 ordinary shares in the company on 2 March 2026. The trade, executed on the London Stock Exchange at £16.39 per share, has been reported in line with UK Market Abuse Regulation requirements.
The director dealing strengthens alignment between board and shareholders, signalling confidence in ICG’s prospects at a time when governance and transparency around insider transactions remain under close regulatory and investor scrutiny. Such purchases are often watched by the market as indicators of insider sentiment toward a company’s valuation and outlook.
The most recent analyst rating on (GB:ICG) stock is a Hold with a £1797.00 price target. To see the full list of analyst forecasts on Intermediate Capital stock, see the GB:ICG Stock Forecast page.
Intermediate Capital Group has repurchased 143,444 ordinary shares on the London Stock Exchange under its previously announced buyback programme, paying between 1,621.00 pence and 1,674.00 pence per share, with a volume-weighted average price of 1,648.77 pence. The acquired shares will be held in treasury and cancelled in tranches at least twice a year, leaving 290,304,630 ordinary shares in issue and 4,068,994 shares in treasury.
The buyback is designed to facilitate the issuance of an equivalent number of non-voting shares to Amundi under ICG’s strategic partnership while avoiding dilution for existing shareholders. By structuring the Amundi stake through treasury shares that will ultimately be cancelled, ICG is reinforcing its capital management discipline and signalling a shareholder-friendly approach as it deepens its distribution and product partnership with the French asset manager.
The most recent analyst rating on (GB:ICG) stock is a Hold with a £1797.00 price target. To see the full list of analyst forecasts on Intermediate Capital stock, see the GB:ICG Stock Forecast page.
ICG plc has repurchased 95,521 ordinary shares on the London Stock Exchange under its previously announced buyback programme, paying between 1,676.00 and 1,716.00 pence per share at a volume-weighted average price of 1,692.35 pence. The acquired shares will be held in treasury and cancelled in tranches at least twice a year, leaving 290,448,074 ordinary shares in issue and 3,925,550 in treasury, as the company structures the buyback to support its non-dilutive strategic partnership with Amundi.
The buyback is designed to allow ICG to issue an equivalent number of non-voting shares to Amundi without diluting existing shareholders, reinforcing the economics of their strategic partnership announced in November 2025. By committing to cancel these shares over time rather than reuse them, ICG is signalling disciplined capital management and offering reassurance to investors concerned about potential dilution from the Amundi tie-up.
The most recent analyst rating on (GB:ICG) stock is a Hold with a £1797.00 price target. To see the full list of analyst forecasts on Intermediate Capital stock, see the GB:ICG Stock Forecast page.
ICG plc has continued executing its recently launched share buyback programme, repurchasing 96,696 ordinary shares on the London Stock Exchange at prices between 1,679.00 pence and 1,733.00 pence, with a volume-weighted average price of 1,716.82 pence. Following this transaction, the group has 290,543,595 ordinary shares in issue, with a further 3,830,029 shares held in treasury.
The buyback is designed to support ICG’s strategic partnership with Amundi by enabling the issuance of non-voting shares to the French asset manager on a non-dilutive basis for existing shareholders. The repurchased shares will be held in treasury and cancelled in tranches at least twice a year, underscoring ICG’s focus on capital management and alignment with investors as it deepens its distribution and product collaboration with Amundi.
The most recent analyst rating on (GB:ICG) stock is a Hold with a £1797.00 price target. To see the full list of analyst forecasts on Intermediate Capital stock, see the GB:ICG Stock Forecast page.
ICG has launched a share buyback programme of up to 15.28 million ordinary shares, representing about 5.26% of its issued capital and capped at £316 million, starting on 26 February 2026 and running to 30 June 2027. The repurchased shares will be held in treasury and cancelled in tranches, while an equal number of new, unlisted non-voting shares with full economic but no voting rights will be issued to strategic partner Amundi on a non-dilutive basis.
The buyback, executed via Merrill Lynch International under preset parameters on the London Stock Exchange and other venues, is a prerequisite for issuing the non-voting shares to Amundi and is intended to reduce ICG’s ordinary share capital while cementing the partnership. Separately, Amundi’s Group Chief Investment Officer, Vincent Mortier, will join ICG’s board as a non-executive and member of the Nominations and Governance Committee from 31 March 2026, strengthening governance links between the two firms.
The most recent analyst rating on (GB:ICG) stock is a Hold with a £1797.00 price target. To see the full list of analyst forecasts on Intermediate Capital stock, see the GB:ICG Stock Forecast page.
ICG reported a solid third quarter to 31 December 2025, with fee-earning assets under management rising 1% in the period and 11% year-on-year to $85bn, within total AUM of $127bn. The group raised $4.4bn in new capital, driven by flagship strategies including Europe IX, Metropolitan II and LP Secondaries II, and maintained a substantial $36bn of dry powder, of which $19bn is not yet earning fees. Transaction activity showed a modest recovery across asset classes, contributing to a positive total balance sheet return at both quarterly and year-to-date levels. Liquidity remained strong at £1.4bn and net financial debt fell to £239m from £401m, reinforcing balance sheet resilience as ICG continues to deploy capital selectively while expanding its fee base across structured capital, secondaries, real assets and private debt.
The most recent analyst rating on (GB:ICG) stock is a Hold with a £2250.00 price target. To see the full list of analyst forecasts on Intermediate Capital stock, see the GB:ICG Stock Forecast page.