ICG ICG.L
United KingdomFinancial Services · Asset ManagementLondon Stock Exchange · GBP
25.12 GBP (+42.4%)
14 analysts
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ICG (Intermediate Capital Group) is a UK-based alternative asset manager investing in private debt, private equity, and infrastructure assets, managing funds for institutional investors.
Listed on London Stock Exchange · Symbol ICG.L · LON: ICG · Currency GBP
Key points
from its scores- ✓High-quality business9.7
- ✓Attractive dividend8.6
- ✓Very solid balance sheet7.6
- ✕Weak growth0.0
- ✕Poor share-price trend3.1
AI analysis
bottom line, main risk, context and newsSolid quality and an attractive dividend (4.93%) offset current growth weakness, but sensitivity to rates and business contraction limit near-term upside potential.
ICG shows excellent profitability and margins (ROE 18.44%, net margin 48.94%) and a reasonable valuation (P/E 10.76), but suffers a sharp contraction in growth (revenue -21.8%, earnings -38.9%) which, in a rising rate environment, could persist due to lower liquidity in private markets.
The prolongation of the revenue and earnings contraction (-21.8% and -38.9%) in a rising interest rate environment, which could reduce the ability to raise new capital for its funds and further pressure growth.
Context and risks
ICG is an alternative asset manager with exposure to private markets. Tightening financial conditions (rising long-term rates) can pressure the valuations of its portfolio companies and make leverage for its funds more expensive, although its corporate balance sheet is solid. The main risk is the sensitivity of its business model to a higher rate environment and reduced liquidity in private markets.
Is ICG stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades in line with the Financial Services median (within 15%).
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 10.8 | 13.7 | −22% |
| Price / book | 1.9 | 1.9 | −0% |
| Price / sales | 5.2 | 3.5 | +52% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 6.3 out of 10 (median for Financial Services: 5.2).
Average analyst target: 25.12 GBP, +42.4% versus the price.
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 10.8
- Forward P/E
- 9.2
- Price / book
- 1.9
- Price / sales
- 5.2
- Market cap
- 5.1B GBP
- Enterprise value
- 4.9B GBP
Profitability
- ROE
- 18.4%
- ROA
- 5.0%
- ROIC (approx.)
- 11.2%
- Gross margin
- 100.0%
- Operating margin
- 46.4%
- Net margin
- 48.9%
Solvency
- Total debt
- 1.3B GBP
- Net debt
- −151.3M GBP
- Cash
- 1.4B GBP
- Debt / equity
- 46.98
- Current ratio
- 1.59
- Quick ratio
- 1.58
Growth
- Revenue growth
- −21.8%
- Earnings growth
- −38.9%
- EPS (TTM)
- 1.64 GBP
- EPS (forward)
- 1.92 GBP
Dividend
- Dividend yield
- 4.9%
- Payout
- 51.5%
Risk and market
- Beta
- 1.44
- Analyst consensus
- Strong buy (14)
- Target price
- 25.12 GBP
Recent news
All ICG.L news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about ICG
Is ICG stock cheap or expensive?
On P/E and Price / book, it trades in line with the Financial Services median (within 15%). Valuation score: 6.3 out of 10 (median for Financial Services: 5.2). Average analyst target: 25.12 GBP, +42.4% versus the price. This is not investment advice.
What score does ICG get on MeridIAn Screener?
It scores 6.2 out of 10, rank 811 of 2,130 (better than 60% of the companies analysed). Its strongest category is Quality / Moat (9.7) and its weakest, Growth (0.0). Analysis of 08/10/2026.
What is ICG's P/E ratio?
Its P/E is 10.8: the share price equals 10.8 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 9.2.
How much is ICG worth on the stock market?
Its market capitalisation is 5.1B GBP.
Does ICG pay a dividend?
Yes: its dividend yield is 4.93% and it pays out 51% of its earnings.
How has ICG stock performed over the last year?
It has fallen 16.8% over the last year, excluding dividends. Over the last 52 weeks it has traded between 0.00 and 22.76 GBP. Past performance does not guarantee future results.
What do analysts think of ICG?
14 analysts cover it; their average recommendation is “Strong buy” and their average target is 25.12 GBP (+42.4% versus the price). It is an estimate, not market data.