IBN

MKT CAP:$99B

ICICI Bank Limited

Market Cap

$99B

Financial Services·Banks - Regional·🇮🇳 India·NYSE

Financials·Banks - Regional·🇮🇳·NYSE

Stock Price

$27.66-$2.33 (-7.79%)

Apr 24, 2026

Company Details

ICICI Bank Limited, together with its subsidiaries, engages in the provision of various banking and financial services to retail and corporate customers in India and internationally. The company operates through Retail Banking, Wholesale Ba...

CEO

Sandeep Bakhshi

IPO Date

Mar 28, 2000

Website

www.icicibank.com

Key Metrics TTM

Revenue

$33.2B

+17.5% YoY

Net Income

$5.8B

EPS (Diluted)

$1.59

Free Cash Flow

$0

Revenue / Share

$9.17

Gross Margin

69.7%

Operating Margin

24.7%

Net Margin

17.4%

FCF Margin

0.0%

P/S

3.0x

P/E

17.2x

Earnings Reports

Q4 2026

Apr 21, 2026

NEW

$9.0BEPS $0.43

Q3 2026

Jan 22, 2026

$8.2BEPS $0.37

Q2 2026

Oct 24, 2025

$8.1B+4.4%EPS $0.39

Q1 2026

Jul 21, 2025

$7.9B+10.9%EPS $0.40

Q2 2025

Sep 28, 2024

$7.7BEPS $0.38

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 18	$1.7B	$1.7B	$1.7B
Q2 22	$4.2B	$2.8B	$914M
Q4 23	$5.7B	$2.7B	$206M
Q1 24	$5.5B	$3.6B	$1.5B
Q3 24	$6.3B	$4.1B	$1.6B
Q4 24	$7.1B	$5.1B	$1.7B
Q1 25	$7.1B	$4.8B	$1.8B
Q2 25	$7.7B	$5.2B	$2.0B
Q1 26	$7.9B	$5.3B	$2.1B
Q2 26	$8.1B	$5.7B	$2.0B
Q3 26	$8.2B	$5.6B	$1.9B
Q4 26	$9.0B	$6.6B	$2.2B

Valuation

Quarter	P/S	P/E
Q3 18	—	—
Q2 22	—	—
Q4 23	—	—
Q1 24	4.8x	27.1x
Q3 24	3.8x	21.0x
Q4 24	3.7x	19.9x
Q1 25	3.9x	21.2x
Q2 25	3.8x	21.1x
Q1 26	4.0x	22.6x
Q2 26	3.5x	19.7x
Q3 26	3.3x	19.1x
Q4 26	2.7x	15.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 16	$0	$0
Q3 16	$0	$0
Q3 18	$0	$0
Q2 22	$0	$0
Q4 23	$0	$0
Q1 24	$0	$0
Q3 24	$0	$0
Q4 24	$0	$0
Q1 25	$0	$0
Q2 25	$0	$0
Q1 26	$0	$0

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 24	+266.5%	—
Q4 24	+68.3%	+62.2%
Q1 25	+24.9%	-2.8%
Q2 25	+40.0%	+45.0%
Q1 26	+25.4%	+24.8%
Q2 26	+14.6%	+14.0%
Q3 26	+15.2%	+18.0%
Q4 26	+16.0%	+17.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 16	$0	—
Q3 16	$0	—
Q3 18	$0	0.0%
Q2 22	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q1 26	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$321M	—
Q4 23	$1.3B	$695M
Q1 24	$511M	—
Q3 24	$1.8B	—
Q4 24	$1.7B	$704M
Q1 25	$655M	—
Q2 25	$2.5B	—
Q1 26	$2.4B	—
Q2 26	$2.7B	—
Q3 26	$668M	—
Q4 26	$3.5B	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$13.5B	$0	$13.5B
Q2 23	$14.7B	$0	$14.7B
Q3 23	$14.9B	$0	$14.9B
Q4 23	$17.4B	$0	$17.4B
Q1 24	$13.5B	$0	$13.5B
Q2 24	$13.7B	$0	$13.7B
Q3 24	$12.9B	$0	$12.9B
Q4 24	$20.2B	$0	$20.2B
Q1 25	$14.3B	$0	$14.3B
Q2 25	$17.5B	$0	$17.5B
Q3 25	$18.3B	$0	$18.3B
Q4 25	$25.3B	$0	$25.3B
Q1 26	$20.9B	$0	$20.9B
Q2 26	$17.8B	$0	$17.8B
Q3 26	$1.6B	$0	$1.6B
Q4 26	$28.1B	$0	$28.1B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 18	3.37B	—	—
Q2 22	3.54B	+5.0%	—
Q4 23	3.56B	+0.5%	—
Q1 24	3.57B	+0.2%	—
Q3 24	3.57B	+0.2%	+5.9%
Q4 24	3.58B	+0.1%	+1.0%
Q1 25	3.58B	+0.2%	+0.7%
Q2 25	3.59B	+0.1%	+0.6%
Q1 26	3.62B	+1.0%	+1.4%
Q2 26	3.62B	0.0%	+1.3%
Q3 26	3.63B	+0.1%	+1.2%
Q4 26	3.62B	-0.1%	+1.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 18	$16.0K	108K
Q2 22	$32.2K	130K
Q4 23	$36.3K	158K
Q1 24	$35.0K	158K
Q3 24	$40.0K	158K
Q4 24	$37.6K	188K
Q1 25	$38.0K	188K
Q2 25	$41.3K	188K
Q1 26	$43.4K	183K
Q2 26	$44.3K	183K
Q3 26	$45.0K	183K
Q4 26	$49.2K	183K

Revenue / Employee