ICICI Securities Limited

NSEI:ISEC Stock Report

Market Cap: ₹234.2b

ICICI Securities Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • 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 ISEC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ISEC (₹724.05) is trading above our estimate of fair value (₹651.95)

Significantly Below Fair Value: ISEC is trading above our estimate of fair value.


Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

ISEC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio11.4x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ISEC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20x
NUVAMA Nuvama Wealth Management
33.6x15.8%₹177.9b
ANGELONE Angel One
19.7x17.4%₹222.3b
523405 JM Financial
11xn/a₹76.5b
540725 Share India Securities
15.8xn/a₹65.9b
ISEC ICICI Securities
13.8x1.2%₹234.2b

Price-To-Earnings vs Peers: ISEC is good value based on its Price-To-Earnings Ratio (13.8x) compared to the peer average (20x).


Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a12.5%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a12.5%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: ISEC is good value based on its Price-To-Earnings Ratio (13.8x) compared to the Indian Capital Markets industry average (23.2x).


Price to Earnings Ratio vs Fair Ratio

What is ISEC'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.

ISEC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.8x
Fair PE Ratio16.9x

Price-To-Earnings vs Fair Ratio: ISEC is good value based on its Price-To-Earnings Ratio (13.8x) compared to the estimated Fair Price-To-Earnings Ratio (16.9x).


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 ISEC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹724.05
₹641.67
-11.4%
15.7%₹725.00₹500.00n/a3
May ’25₹756.25
₹641.67
-15.2%
15.7%₹725.00₹500.00n/a3
Apr ’25₹724.20
₹641.67
-11.4%
15.7%₹725.00₹500.00n/a3
Mar ’25₹828.60
₹641.67
-22.6%
15.7%₹725.00₹500.00n/a3
Feb ’25₹820.90
₹641.67
-21.8%
15.7%₹725.00₹500.00n/a3
Jan ’25₹709.95
₹641.67
-9.6%
15.7%₹725.00₹500.00n/a3
Dec ’24₹682.50
₹641.67
-6.0%
15.7%₹725.00₹500.00n/a3
Nov ’24₹626.95
₹603.75
-3.7%
18.1%₹725.00₹490.00n/a4
Oct ’24₹621.40
₹603.75
-2.8%
18.1%₹725.00₹490.00n/a4
Sep ’24₹624.70
₹603.75
-3.4%
18.1%₹725.00₹490.00n/a4
Aug ’24₹636.05
₹595.00
-6.5%
16.7%₹725.00₹490.00n/a5
Jul ’24₹608.45
₹507.86
-16.5%
7.1%₹560.00₹440.00n/a7
Jun ’24₹489.95
₹507.86
+3.7%
7.1%₹560.00₹440.00n/a7
May ’24₹443.05
₹515.63
+16.4%
7.6%₹570.00₹440.00₹756.258
Apr ’24₹428.05
₹565.00
+32.0%
11.4%₹680.00₹450.00₹724.208
Mar ’24₹471.75
₹565.00
+19.8%
11.4%₹680.00₹450.00₹828.608
Feb ’24₹483.35
₹565.00
+16.9%
11.4%₹680.00₹450.00₹820.908
Jan ’24₹497.35
₹550.00
+10.6%
10.9%₹640.00₹440.00₹709.957
Dec ’23₹524.75
₹550.00
+4.8%
10.9%₹640.00₹440.00₹682.507
Nov ’23₹514.15
₹550.00
+7.0%
10.9%₹640.00₹440.00₹626.957
Oct ’23₹523.15
₹513.57
-1.8%
13.2%₹600.00₹400.00₹621.407
Sep ’23₹500.35
₹513.57
+2.6%
13.2%₹600.00₹400.00₹624.707
Aug ’23₹492.10
₹513.57
+4.4%
13.2%₹600.00₹400.00₹636.057
Jul ’23₹413.55
₹742.14
+79.5%
14.2%₹935.00₹600.00₹608.457
Jun ’23₹440.70
₹742.14
+68.4%
14.2%₹935.00₹600.00₹489.957
May ’23₹560.70
₹742.14
+32.4%
14.2%₹935.00₹600.00₹443.057

Analyst Forecast: Target price is lower than the current share price.


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