Intermediate Capital Group plc

DB:I2X2 Stock Report

Market Cap: €7.2b

Intermediate Capital Group Valuation

Is I2X2 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of I2X2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: I2X2 (€25) is trading below our estimate of fair value (€35.49)

Significantly Below Fair Value: I2X2 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for I2X2?

Key metric: As I2X2 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for I2X2. This is calculated by dividing I2X2's market cap by their current earnings.
What is I2X2's PE Ratio?
PE Ratio15x
EarningsUK£399.30m
Market CapUK£6.00b

Price to Earnings Ratio vs Peers

How does I2X2's PE Ratio compare to its peers?

The above table shows the PE ratio for I2X2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9x
DWS DWS Group GmbH KGaA
13.4x13.0%€8.0b
MLP MLP
10.4x7.8%€671.1m
AR40 AURELIUS Equity Opportunities SE KGaA
3.4xn/a€346.9m
DBAN Deutsche Beteiligungs
8.8x35.3%€419.9m
I2X2 Intermediate Capital Group
15x11.8%€6.0b

Price-To-Earnings vs Peers: I2X2 is expensive based on its Price-To-Earnings Ratio (15x) compared to the peer average (9x).

Price to Earnings Ratio vs Industry

How does I2X2's PE Ratio compare vs other companies in the DE Capital Markets Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AR40 AURELIUS Equity Opportunities SE KGaA
3.4xn/aUS$361.67m
SPT6 Sparta
2.5xn/aUS$173.99m
VG8 Varengold Bank
2.2xn/aUS$29.32m
XE8 Black Sea Property
0.6xn/aUS$6.41m
No more companies available in this PE range
I2X2 15.0xIndustry Avg. 19.4xNo. of Companies7PE01632486480+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: I2X2 is good value based on its Price-To-Earnings Ratio (15x) compared to the German Capital Markets industry average (19.4x).

Price to Earnings Ratio vs Fair Ratio

What is I2X2's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

I2X2 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15x
Fair PE Ratio17.5x

Price-To-Earnings vs Fair Ratio: I2X2 is good value based on its Price-To-Earnings Ratio (15x) compared to the estimated Fair Price-To-Earnings Ratio (17.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst I2X2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€25.00
€31.13
+24.5%
6.9%€36.61€27.74n/a16
Dec ’25€25.20
€30.63
+21.6%
7.5%€36.39€27.57n/a16
Nov ’25€24.40
€31.10
+27.5%
7.7%€36.52€27.18n/a16
Oct ’25€26.60
€30.94
+16.3%
7.8%€36.37€27.07n/a15
Sep ’25€25.60
€30.72
+20.0%
8.0%€36.00€26.32n/a15
Aug ’25€25.80
€30.84
+19.5%
8.2%€36.10€25.93n/a15
Jul ’25€25.80
€29.84
+15.7%
13.8%€35.75€18.84n/a16
Jun ’25€27.40
€28.56
+4.2%
15.5%€35.67€18.80n/a15
May ’25€23.80
€25.95
+9.0%
11.6%€30.38€18.70n/a16
Apr ’25€24.05
€24.70
+2.7%
10.3%€27.03€18.80n/a16
Mar ’25€22.50
€24.32
+8.1%
10.3%€26.85€18.68n/a16
Feb ’25€20.70
€24.08
+16.3%
10.1%€26.71€18.77n/a15
Jan ’25€19.28
€22.31
+15.7%
9.5%€25.00€17.56n/a14
Dec ’24€18.06
€22.08
+22.3%
9.0%€24.94€17.75€25.2014
Nov ’24€14.98
€21.58
+44.1%
10.1%€24.93€16.82€24.4014
Oct ’24€15.82
€21.46
+35.6%
10.1%€24.84€16.99€26.6014
Sep ’24€15.70
€21.68
+38.1%
11.1%€25.28€17.17€25.6016
Aug ’24€16.24
€21.92
+35.0%
9.9%€25.22€18.65€25.8015
Jul ’24€15.78
€21.56
+36.6%
11.4%€25.12€17.06€25.8014
Jun ’24€16.32
€21.69
+32.9%
12.1%€25.37€17.11€27.4014
May ’24€14.40
€21.19
+47.1%
12.4%€24.86€16.55€23.8014
Apr ’24€13.70
€21.19
+54.6%
12.4%€24.86€16.55€24.0514
Mar ’24€15.80
€21.42
+35.6%
11.0%€24.71€17.57€22.5013
Feb ’24€15.70
€21.82
+39.0%
10.3%€24.86€17.68€20.7012
Jan ’24€13.60
€24.53
+80.4%
22.5%€33.98€16.47€19.2812
Dec ’23€13.80
€24.53
+77.8%
22.5%€33.98€16.47€18.0612

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/29 20:06
End of Day Share Price 2024/12/27 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Intermediate Capital Group plc is covered by 34 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Peter LenardosArden Partners Plc.
Michael SandersonBarclays
Michael SandersonBarclays