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Industrial and Commercial Bank of China Limited 1398.HK

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Industrial and Commercial Bank of China Limited statistics & valuation

Market capCN¥2.56T
P / E6.9×
P / S3.1×
P / B0.6×
P / FCF1.4×
Net margin44.2%
FCF margin222.2%
Net cashCN¥2.52T
Enterprise value USD-$293.5B
Graham number +360.1%CN¥33.17

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (CN¥33.17); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
41.40% 43.40% 44.80% 44.20% 2022202320242025
Gross margin (%)
2022202320242025
Operating margin (%)
2022202320242025
Return on equity (%)
10.30% 9.70% 9.20% 8.70% 2022202320242025
Shares outstanding
86.79B 86.79B 86.79B 86.79B 2022202320242025
Net debt (CN¥)
-CN¥3.32T -CN¥3.40T -CN¥2.15T -CN¥2.52T 2022202320242025
Share buybacks (CN¥)
2022202320242025
Return on assets (%)
0.90% 0.80% 0.70% 0.70% 2022202320242025
Free cash flow margin (%)
159.60% 167.40% 66.50% 222.20% 2022202320242025
Debt / equity (×)
0.41× 0.51× 0.65× 0.65× 2022202320242025
EPS (CN¥)
CN¥0.97 CN¥0.98 CN¥0.98 CN¥1.00 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Industrial and Commercial Bank of China Limited trades at about 7.2× earnings — above its 10-year norm (10-year range 3.9×–6.5×, median 5.4×).

3.9× 7.2×

Shaded band = 10-year range (3.9×–6.5×); dot = today's 7.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Net margin44.2%44.8%43.4%41.4%
FCF margin222.2%66.5%167.4%159.6%
Return on assets0.7%0.7%0.8%0.9%
Return on equity8.7%9.2%9.7%10.3%

Computed from company filings · HK · as of 2025-12-31. Figures in CNY. Facts plus Stocktoria's own computed scores — not investment advice.