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Icl
(NYSE:ICL)
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Rating:58Neutral
Price Target:
$5.50
â–²(4.17% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by mid-tier financial performance: profitability and ROE remain materially compressed versus prior-cycle highs and free-cash-flow quality is still uneven, even with a stable balance sheet. The earnings call is a positive offset due to strong Q2 momentum, reiterated guidance, and a clearly quantified cost program, but near-term input/FX/logistics headwinds add execution risk. Technicals are a notable drag given the stock remains below key longer-term moving averages, while valuation is mixed with a higher P/E partially balanced by a ~3.8% dividend yield.
Positive Factors
Strategic Reorganization & Specialty Focus
ICL's planned reorganization aligns management and reporting to end markets and prioritizes higher‑value specialty food and crop‑nutrition businesses. A clear $1.5B target for functional food ingredients provides a multi‑year growth roadmap and improves capital allocation toward more durable, higher‑margin revenue streams.
Negative Factors
Compressed Profitability vs Prior Cycle
ICL's margins and returns remain far below prior‑cycle peaks, reducing internally generated capital and weakening ROE. Restoring historical profitability requires sustained pricing power or successful structural cost reductions; otherwise the company may face prolonged lower returns that constrain reinvestment and shareholder returns over several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic Reorganization & Specialty Focus
ICL's planned reorganization aligns management and reporting to end markets and prioritizes higher‑value specialty food and crop‑nutrition businesses. A clear $1.5B target for functional food ingredients provides a multi‑year growth roadmap and improves capital allocation toward more durable, higher‑margin revenue streams.
Read all positive factors
Icl Key Performance Indicators (KPIs)
Icl (ICL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.53B
Dividend Yield3.77%
Average Volume (3M)1.42M
Price to Earnings (P/E)25.4
Beta (1Y)0.89
Revenue Growth7.80%
EPS Growth-32.94%
CountryUS
Employees13,007
SectorBasic Materials
Sector Strength58
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)0.20
Shares Outstanding1,290,718,400
10 Day Avg. Volume1,113,937
30 Day Avg. Volume1,421,510
Financial Highlights & Ratios
PEG Ratio-0.73
Price to Book (P/B)1.23
Price to Sales (P/S)1.03
P/FCF Ratio56.69
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$5.87Price Target Upside11.11% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)0.41
Revenue Forecast (FY)$7.81B
Icl Business Overview & Revenue Model
Company Description
ICL Group Ltd, a global enterprise specializing in the production of minerals and chemicals, conducts its operations through four distinct business units. The company, which originated as Israel Chemicals Ltd and adopted its current name in May 20...
How the Company Makes Money
ICL makes money by selling mineral- and chemical-based products across several business lines, with revenues largely tied to volumes sold and market pricing for its products and, in some segments, value-added specialty formulations. Key revenue st...
Icl Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call conveyed a largely positive operational and financial performance for Q2 2026 with strong top-line growth, meaningful EBITDA expansion, improved cash generation, segment-level outperformance (notably Industrial Products and Potash), a clear strategic reorganization and an ambitious cost-savings program (Elevate). However, material headwinds were highlighted — most prominently sharply higher sulfur prices, other input and logistics cost inflation, currency exposure, and regional demand softness (Brazil) — which increase execution risk and explain the continued cautious guidance range. On balance, the company demonstrated resilience and credible levers (diversified portfolio, operational improvements, cost program, strong balance sheet) to manage near-term pressures while pursuing growth initiatives.Positive Updates
Revenue Growth
Consolidated sales of $2.1 billion in Q2 2026, up 17% year-over-year, with all four segments contributing to the increase.
Negative Updates
Raw Material Cost Pressure — Sulfur Spike
Sulfur spot prices climbed ~72% sequentially and more than 210% year-over-year in Q2, creating a material margin headwind for phosphate products and raising production costs as higher-priced sulfur inventory is consumed.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth
Consolidated sales of $2.1 billion in Q2 2026, up 17% year-over-year, with all four segments contributing to the increase.
Read all positive updates
Company Guidance
ICL reiterated 2026 guidance for consolidated adjusted EBITDA of $1.5–$1.7 billion, potash sales volumes of 4.5–4.7 million metric tons and an annual adjusted tax rate of ~30%, noting the outlook already reflects higher raw‑material and currency headwinds; management also flagged sulfur pressure (spot sulfur up ~72% q/q and >210% y/y, ~$1,200/t) and ocean freight (+45% q/q) as margin risks. The company is pursuing its Elevate cost program to deliver >$150 million of annual EBITDA improvement by end‑2027 and >$350 million by end‑2028 (targeted split ~50–60% productivity, 30–40% external spend, 10–20% SG&A). Second‑quarter metrics that underpin the guidance include sales of $2.1 billion, adjusted EBITDA of $448 million, adjusted net income of $149 million (adj. EPS $0.12), operating cash flow $290 million, free cash flow $94 million (+34% YoY), available cash of $2.2 billion, net debt/adjusted EBITDA of 1.5x, an $800 million senior notes issuance, and a dividend policy to distribute 50% of adjusted net income (Q2 dividend $75 million; trailing‑12‑month yield 4.1%).Icl Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
66
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.41B | 7.15B | 6.84B | 7.54B | 10.02B | 6.96B |
| Gross Profit | 2.25B | 2.19B | 2.26B | 2.67B | 5.03B | 2.61B |
| EBITDA | 1.35B | 1.35B | 1.38B | 1.67B | 4.04B | 1.72B |
| Net Income | 261.00M | 226.00M | 407.00M | 647.00M | 2.16B | 783.00M |
Balance Sheet | ||||||
| Total Assets | 13.01B | 12.41B | 11.32B | 11.63B | 11.75B | 11.08B |
| Cash, Cash Equivalents and Short-Term Investments | 581.00M | 496.00M | 442.00M | 592.00M | 508.00M | 564.00M |
| Total Debt | 3.15B | 2.76B | 2.29B | 2.69B | 2.82B | 3.01B |
| Total Liabilities | 6.68B | 6.17B | 5.33B | 5.59B | 6.04B | 6.34B |
| Stockholders Equity | 6.05B | 5.98B | 5.72B | 5.77B | 5.46B | 4.53B |
Cash Flow | ||||||
| Free Cash Flow | 264.95M | 130.00M | 650.00M | 815.00M | 1.38B | 454.00M |
| Operating Cash Flow | 1.06B | 954.00M | 1.36B | 1.59B | 2.13B | 1.06B |
| Investing Cash Flow | -944.26M | -930.00M | -711.00M | -863.00M | -747.00M | -579.00M |
| Financing Cash Flow | -40.26M | -78.00M | -724.00M | -712.00M | -1.42B | -244.00M |
Icl Technical Analysis
Positive
5.28
Price Trends
5.37
Negative
5.45
Negative
5.43
Negative
Market Momentum
-0.03
Negative
52.19
Neutral
37.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ICL, the sentiment is Positive. The current price of 5.28 is above the 20-day moving average (MA) of 5.11, below the 50-day MA of 5.37, and below the 200-day MA of 5.43, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 52.19 is Neutral, neither overbought nor oversold. The STOCH value of 37.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ICL.
Icl Risk Analysis
Icl disclosed 60 risk factors in its most recent earnings report. Icl reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Icl Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $19.23B | 11.23 | 35.17% | 1.60% | 20.85% | 46.79% | |
72 Outperform | $1.36B | 8.51 | 51.56% | 9.98% | 17.47% | 82.16% | |
71 Outperform | $456.19M | 31.82 | 5.27% | ― | 9.55% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | $6.53B | 25.42 | 4.32% | 3.61% | 7.80% | -32.94% | |
54 Neutral | $7.03B | 9.41 | 0.36% | 3.95% | 12.34% | -87.77% | |
45 Neutral | $1.34B | -0.49 | -83.04% | 7.26% | -21.31% | -2884.91% |
* Basic Materials Sector Average
ICL
Icl
5.23
-0.57
-9.78%
CF
Cf Industries Holdings
116.71
28.70
32.61%
UAN
CVR Partners
126.60
40.55
47.12%
FMC
FMC
10.78
-24.67
-69.59%
IPI
Intrepid Potash
33.75
2.72
8.77%
MOS
Mosaic Co
23.41
-6.47
-21.66%
Icl Corporate Events
ICL Delivers Strong Q2 2026 Results and Unveils Structural Overhaul
Aug 5, 2026
ICL reported strong financial performance for the second quarter ended June 30, 2026, with sales rising 17% year-on-year to $2.1 billion and delivering its best operating income in three years. Operating income increased to $266 million, adjusted ...
ICL Group Declares $75 Million Cash Dividend for September 2026 Payout
Aug 5, 2026
On August 4, 2026, ICL Group’s board approved a cash dividend of $0.05811 per share, totaling about $75 million, with payment available only to shareholders entitled to receive at least $2. The record date is set for September 2, 2026, and t...
ICL Group Posts Double-Digit Revenue and Profit Growth in Strong Q2 2026 Results
Aug 5, 2026
ICL Group Ltd., a global specialty minerals and chemicals producer headquartered in Tel Aviv, operates across fertilizer, food and industrial markets, with core businesses in potash, phosphate and bromine. The company is pursuing growth in special...
ICL Group to Reshape Operations Around Agriculture, Food and Industrial Markets From 2027
Aug 5, 2026
On August 4, 2026, ICL’s board approved a major reorganization of the group’s organizational and reporting structure, effective January 1, 2027, to better align management with the corporate strategy unveiled in November 2025. The new ...
ICL Group Sets September AGM as CEO Highlights 2025 Results and Strategic Shift to Specialty Growth Engines
Jul 30, 2026
ICL Group has called its 2026 annual general meeting of shareholders for September 17, 2026, in Tel Aviv and virtually, to vote on the re-election of its director slate, the reappointment of Somekh Chaikin of KPMG as independent auditor and to pre...
ICL Group Releases 2025 ESG Report Aligned with Global Sustainability Standards
Jun 30, 2026
ICL Group Ltd., an Israel-based multinational in fertilizers and specialty chemicals, reports to U.S. investors as a foreign private issuer and emphasizes alignment with international sustainability standards. The company highlights its role in pr...
ICL Secures New Annual Potash Supply Deal with Indian Potash Limited
Jun 23, 2026
On June 23, 2026, ICL announced it had signed a new agreement with long-term partner Indian Potash Limited, India’s largest potash importer, to supply 375,000 metric tons of potash over the coming year, with an option for an additional 50,00...
ICL Group Raises $800 Million in BBB- Rated Senior Notes Due 2036
Jun 16, 2026
On June 16, 2026, ICL Group Ltd. announced it had completed a private placement of $800 million in senior unsecured notes due 2036 to institutional investors under Rule 144A and Regulation S. The notes, rated BBB- by SP Global and Fitch, carry a 6...
ICL Group Prices $800 Million Private Senior Notes Offering Due 2036
Jun 9, 2026
On June 9, 2026, ICL Group Ltd. announced it had priced a private offering of $800 million in senior unsecured notes due 2036, bearing a fixed annual interest rate of 6.036% with semi-annual payments and a single principal repayment at maturity. T...
ICL Details $69 Million Dividend and Updates Cross-Border Filing on Form 6-K
Jun 1, 2026
On June 1, 2026, ICL Group Ltd. filed a Form 6-K in the United States, incorporating the report by reference into its existing share incentive registration and its Israeli shelf prospectus, thereby aligning its latest disclosure with both U.S. and...
ICL Group Launches Institutional Senior Notes Offering to Refinance Debt and Fund Growth
Jun 1, 2026
On June 1, 2026, ICL Group Ltd. announced it had launched an offering of new unsecured senior notes, with the final size and terms still to be set. The company plans to use proceeds for general corporate purposes, notably repaying borrowings under...
ICL Lifts 2026 EBITDA Guidance After Strong First Quarter Results
May 13, 2026
On May 13, 2026, ICL reported strong financial results for the first quarter ended March 31, 2026, highlighted by a 14% year-on-year increase in sales to $2.0 billion and a 27% rise in operating income to $235 million. Adjusted EBITDA climbed 15% ...
ICL Group Declares $69 Million Cash Dividend for June 2026 Payout
May 13, 2026
ICL Group Ltd. reported that on May 12, 2026, its board of directors approved a cash dividend of $0.05350 per share, totaling about $69 million, with some shareholders to be paid in New Israeli Shekels based on the Bank of Israel exchange rate on ...
ICL Posts Strong Q1 2026 Results on Higher Bromine, Potash and Phosphate Prices
May 13, 2026
On May 13, 2026, ICL reported strong financial results for the first quarter of 2026, with total sales rising 14% year over year to $2.0 billion and adjusted EBITDA climbing 15% to $412 million. Adjusted net income increased 26% to $139 million an...
ICL Secures S&P Reaffirmation of BBB- Rating with Stable Outlook
May 11, 2026
On May 11, 2026, ICL reported that SP reaffirmed its long-term issuer rating at BBB- with a stable outlook, while also maintaining the company’s Israeli local rating at ilAA with a stable outlook. The filing noted that this Form 6-K is incor...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.