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Industrial & Commercial Bank of China (IDCBY)
OTHER OTC:IDCBY
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Industrial & Commercial Bank of China
(OTC:IDCBY)
Rating:81Outperform
Price Target:―
Industrial & Commercial Bank of China (IDCBY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$352.19B
Dividend Yield5.11%
Average Volume (3M)4.15K
Price to Earnings (P/E)5.4
Beta (1Y)0.24
Revenue Growth-3.02%
EPS Growth-0.33%
CountryUS
Employees415,159
SectorFinancial
Sector Strength71
IndustryBanks - Diversified
Share Statistics
EPS (TTM)0.63
Shares Outstanding4,339,702,600
10 Day Avg. Volume2,578
30 Day Avg. Volume4,153
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap3.19
Enterprise Value/Revenue0.93
Enterprise Value/Gross Profit1.11
Enterprise Value/Ebitda3.61
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Industrial & Commercial Bank of China Business Overview & Revenue Model
Company DescriptionIndustrial and Commercial Bank of China Limited, together with its subsidiaries, provides banking products and services in the People's Republic of China and internationally. It operates through Corporate Banking, Personal Banking, and Treasury Operations segments. The Corporate Banking segment offers financial products and services to corporations, government agencies, and financial institutions. Its products and services include corporate loans, trade financing, deposit taking activities, corporate wealth management services, custody activities, and various corporate intermediary services. The Personal Banking segment provides financial products and services to individual customers. This segment's products and services comprise personal loans and cards, deposits, and personal wealth management and intermediary services. The Treasury Operations segment is involved in the money market transactions, investment securities, and foreign exchange transactions businesses, as well as in the holding of derivative positions. It also offers e-banking services, investment banking, financial leasing, and insurance services. The company was founded in 1984 and is based in Beijing, the People's Republic of China.
How the Company Makes MoneyIndustrial & Commercial Bank of China (IDCBY) generates revenue through multiple streams. The primary sources include interest income from loans and advances, fees from banking services, and income from investment and trading activities. The bank offers loans to individuals and businesses, earning interest as the primary income source. Additionally, it charges fees for various banking services such as wealth management, credit card services, and transaction processing. IDCBY also engages in treasury operations, including trading in securities and foreign exchange, which contribute to its revenue. The bank's extensive network and partnerships with other financial institutions further enhance its ability to generate income, both domestically and internationally.
Industrial & Commercial Bank of China Earnings Call Summary
Earnings Call Date:Apr 29, 2025
(Q4-2024)
| % Change Since: 7.83%|
Next Earnings Date:Aug 29, 2025
Earnings Call Sentiment Positive
ICBC demonstrated a strong and stable performance in 2024 with significant achievements in asset growth, capital adequacy, dividend payouts, and international operations. Despite challenges with a low net interest margin and rising NPLs in retail segments, the overall outlook remains positive, supported by strategic growth areas and technological advancements.Q4-2024 Updates
Positive Updates
Stable Operating Performance
ICBC maintained stable operations with total assets nearly RMB49 trillion and customer deposits of nearly RMB35 trillion, both maintaining a global lead. Annual operating revenue was RMB786.1 billion, and net profit was RMB366.9 billion, remaining at the forefront of the domestic industry.
Capital Adequacy and Asset Quality
The capital adequacy ratio was 19.39%, an increase of 29 basis points from the beginning of the year, ranking among the top global banks. The NPL ratio was 1.34% with provision coverage at 214.91%.
Dividend Payouts
For the first time, ICBC paid interim dividends, resulting in two dividends per year, with interim dividends amounting to RMB51.1 billion. An additional year-end dividend of RMB58.7 billion was announced.
Growth in Strategic Areas
Customer loans increased by 8.8% year-on-year and the investment balance increased by 20.1%. Green loans exceeded RMB6 trillion, and loans to manufacturing sector exceeded RMB4.4 trillion.
Expansion in Technology and Digital Finance
The mobile banking application MAU exceeded 200 million and the annual transaction volume of open banking exceeded RMB375 trillion. The use of AI and fintech improved risk management efficiency.
International Operations and RMB Internationalization
ICBC's service network covers 49 countries, with pretax profit from overseas institutions exceeding US$3.9 billion, up 21.6%. Cross-border RMB business volume reached RMB9.8 trillion.
Negative Updates
Pressure from Low Net Interest Margin (NIM)
The NIM was 1.42%, down by 19 basis points from the previous year, indicating pressure from low-interest rates and market conditions.
Rising NPL in Retail Segments
NPL ratios in retail segments such as personal business loans, consumption loans, and credit cards rose, although they remained at a controllable level.
Company Guidance
In the 2024 Annual Earnings Call, ICBC provided comprehensive guidance on its financial performance and strategic initiatives. The bank reported total assets nearing RMB49 trillion, with customer loans surpassing RMB28 trillion and deposits close to RMB35 trillion. The annual operating revenue was RMB786.1 billion, and the net profit was RMB366.9 billion, with a net interest margin of 1.42% and a cost-to-income ratio of 29.43%. The capital adequacy ratio was 19.39%, and the NPL ratio stood at 1.34% with provision coverage at 214.91%. ICBC emphasized five transformations focusing on intelligent risk control, modern business layout, digital growth, diversified business structure, and ecological foundation. They reported progress in digital finance with over 200 million MAU for their mobile banking app and a transaction volume of RMB375 trillion in open banking. The bank also highlighted its support for the real economy, technological finance, and private enterprises, aiming for high-quality, sustainable value creation. For 2025, ICBC plans to maintain robust key operating indicators and continue its strategic focus on the five transformations.Industrial & Commercial Bank of China Financial Statement Overview
Summary
Industrial & Commercial Bank of China exhibits strong financial health with excellent profitability, robust capitalization, and effective cash management. Despite a slight revenue decline, the lack of debt and high liquidity positions the company well to weather economic fluctuations.Income Statement
The company demonstrates strong and consistent profitability with high gross profit and net profit margins. However, there is a slight decline in revenue over the past two years, indicating challenges in maintaining growth. The absence of EBIT and EBITDA in the latest period limits a full margin assessment.85
Very Positive
Balance Sheet
The balance sheet is robust with an impressive equity ratio, showcasing strong capitalization. The company has no debt, further enhancing financial stability. The return on equity remains high, indicating efficient use of equity. A high level of cash and cash equivalents provides liquidity strength.88
Very Positive
Cash Flow
The company shows solid free cash flow generation, although it has declined due to reduced operating cash flow. The operating cash flow to net income ratio remains strong, indicating good cash earnings quality. The free cash flow to net income ratio suggests effective cash management.82
Very Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.21T | 817.28B | 838.05B | 913.56B | 939.89B | 881.36B |
| Gross Profit | 1.01T | 817.28B | 838.05B | 913.56B | 939.89B | 881.36B |
| EBITDA | 311.29B | 0.00 | 437.37B | 0.00 | 439.75B | 407.12B |
| Net Income | 362.37B | 365.86B | 363.99B | 361.13B | 348.34B | 315.91B |
Balance Sheet | ||||||
| Total Assets | 51.55T | 48.82T | 44.70T | 39.61T | 35.17T | 33.35T |
| Cash, Cash Equivalents and Short-Term Investments | 4.98T | 4.75T | 5.30T | 4.74T | 4.19T | 4.90T |
| Total Debt | 2.47T | 2.04T | 1.90T | 5.04T | 4.64T | 4.38T |
| Total Liabilities | 47.49T | 44.83T | 40.92T | 1.43T | 1.28T | 1.27T |
| Stockholders Equity | 4.04T | 3.97T | 3.76T | 3.50T | 3.26T | 2.89T |
Cash Flow | ||||||
| Free Cash Flow | 1.84T | 462.55B | 499.19B | 778.87B | 339.02B | 1.53T |
| Operating Cash Flow | 1.88T | 505.85B | 530.39B | 802.00B | 360.88B | 1.56T |
| Investing Cash Flow | -2.07T | -1.47T | -891.85B | -910.62B | -674.56B | -1.14T |
| Financing Cash Flow | 1.19T | 1.29T | 3.82T | 3.19T | -11.55B | -46.95B |
Industrial & Commercial Bank of China Technical Analysis
Neutral
15.01
Price Trends
15.55
Negative
14.71
Positive
13.78
Positive
Market Momentum
-0.08
Positive
44.26
Neutral
27.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IDCBY, the sentiment is Neutral. The current price of 15.01 is below the 20-day moving average (MA) of 15.41, below the 50-day MA of 15.55, and above the 200-day MA of 13.78, indicating a neutral trend. The MACD of -0.08 indicates Positive momentum. The RSI at 44.26 is Neutral, neither overbought nor oversold. The STOCH value of 27.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IDCBY.
Industrial & Commercial Bank of China Peers Comparison
Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $352.19B | 5.41 | 9.72% | 5.11% | -3.02% | -0.33% | |
81 Outperform | $226.57B | 13.02 | 10.69% | 5.03% | -2.96% | -13.66% | |
79 Outperform | $366.50B | 14.49 | 9.46% | 2.07% | 4.95% | 20.49% | |
77 Outperform | $810.90B | 15.20 | 16.13% | 1.78% | 4.00% | 8.73% | |
77 Outperform | $256.88B | 13.57 | 11.51% | 2.02% | 0.37% | 19.89% | |
76 Outperform | $175.72B | 14.52 | 9.43% | 2.25% | 0.82% | 28.48% | |
68 Neutral | $17.69B | 11.82 | 10.30% | 3.73% | 9.66% | 0.42% |
* Financial Sector Average
Performance Comparison
IDCBY
Industrial & Commercial Bank of China
15.01
3.32
28.40%
BAC
Bank of America
50.25
11.53
29.78%
HSBC
HSBC Holdings
65.49
23.79
57.05%
JPM
JPMorgan Chase
298.57
83.23
38.65%
MUFG
Mitsubishi UFJ
15.54
5.52
55.09%
WFC
Wells Fargo
81.51
26.47
48.09%
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.