Incitec Pivot Limited

OTCPK:ICPV.F Stock Report

Market Cap: US$3.5b

Incitec Pivot Valuation

Is ICPV.F 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: ICPV.F ($1.89) is trading below our estimate of fair value ($4.37)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ICPV.F?

Key metric: As ICPV.F is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for ICPV.F. This is calculated by dividing ICPV.F's market cap by their current revenue.
What is ICPV.F's PS Ratio?
PS Ratio1x
SalesAU$5.34b
Market CapAU$5.52b

Price to Sales Ratio vs Peers

How does ICPV.F's PS Ratio compare to its peers?

The above table shows the PS ratio for ICPV.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.8x
CC Chemours
0.5x4.5%US$2.6b
HUN Huntsman
0.5x5.3%US$3.1b
LXU LSB Industries
1.1x5.7%US$544.3m
FUL H.B. Fuller
1x2.6%US$3.8b
ICPV.F Incitec Pivot
1x0.8%US$5.5b

Price-To-Sales vs Peers: ICPV.F is expensive based on its Price-To-Sales Ratio (1x) compared to the peer average (0.8x).

Price to Sales Ratio vs Industry

How does ICPV.F's PS Ratio compare vs other companies in the US Chemicals Industry?

14 CompaniesPrice / SalesEstimated GrowthMarket Cap
TSE Trinseo
0.05x4.1%US$181.26m
AVD American Vanguard
0.2x4.8%US$126.95m
ALTO Alto Ingredients
0.1x3.1%US$117.27m
ENFY Enlightify
0.2xn/aUS$16.29m
ICPV.F 1.0xIndustry Avg. 1.3xNo. of Companies14PS012345+
14 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: ICPV.F is good value based on its Price-To-Sales Ratio (1x) compared to the US Chemicals industry average (1.2x).

Price to Sales Ratio vs Fair Ratio

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

ICPV.F PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate ICPV.F's Price-To-Sales Fair Ratio for valuation analysis.

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 ICPV.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$1.89
US$2.07
+9.2%
7.8%US$2.43US$1.81n/a13
Dec ’25n/a
US$2.17
0%
7.9%US$2.56US$1.91n/a13
Nov ’25n/a
US$2.12
0%
6.9%US$2.38US$1.91n/a14
Oct ’25US$2.14
US$2.21
+3.3%
6.2%US$2.52US$2.01n/a14
Sep ’25n/a
US$2.05
0%
4.8%US$2.22US$1.90n/a14
Aug ’25US$1.90
US$2.07
+8.7%
5.1%US$2.23US$1.91n/a14
Jul ’25n/a
US$2.15
0%
6.0%US$2.34US$1.89n/a12
Jun ’25n/a
US$2.15
0%
6.0%US$2.34US$1.89n/a12
May ’25n/a
US$1.97
0%
7.4%US$2.18US$1.65n/a14
Apr ’25US$1.75
US$2.01
+15.1%
7.6%US$2.20US$1.67n/a14
Mar ’25n/a
US$2.01
0%
7.6%US$2.20US$1.67n/a14
Feb ’25n/a
US$2.06
0%
8.7%US$2.43US$1.68n/a14
Jan ’25n/a
US$2.13
0%
8.1%US$2.49US$1.82n/a14
Dec ’24n/a
US$2.10
0%
8.2%US$2.44US$1.78n/a12
Nov ’24n/a
US$2.06
0%
8.7%US$2.34US$1.80n/a11
Oct ’24n/a
US$2.10
0%
8.7%US$2.38US$1.83US$2.1411
Sep ’24n/a
US$2.12
0%
8.9%US$2.37US$1.83n/a11
Aug ’24US$2.03
US$2.21
+8.7%
8.6%US$2.49US$1.92US$1.9010
Jul ’24US$1.85
US$2.23
+20.3%
7.4%US$2.47US$2.00n/a9
Jun ’24US$2.03
US$2.31
+14.0%
9.1%US$2.66US$2.06n/a9
May ’24n/a
US$2.59
0%
9.8%US$3.01US$2.25n/a8
Apr ’24n/a
US$2.67
0%
10.2%US$3.13US$2.33US$1.759
Mar ’24n/a
US$2.90
0%
11.3%US$3.41US$2.36n/a11
Feb ’24US$2.45
US$3.06
+24.9%
11.0%US$3.59US$2.49n/a11
Jan ’24n/a
US$2.87
0%
11.1%US$3.37US$2.33n/a11
Dec ’23US$2.83
US$2.83
+0.1%
11.6%US$3.37US$2.33n/a12

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/21 16:48
End of Day Share Price 2024/12/19 00:00
Earnings2024/09/30
Annual Earnings2024/09/30

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

Incitec Pivot Limited is covered by 30 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David Matthew KratochvilAlliance Global Partners
Dennis HulmeAPP Securities Pty Ltd.
Russell WrightBarclay Pearce Capital Pty Limited