ICICI Bank Limited (ICICIBANK) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of ICICI Bank Limited stock ₹616, price ₹1,571, that is 60.8% below the price, quality 58 out of 100. Rating: strongly overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
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ICICI Bank Limited
ICICIBANK · NSEOur calculation puts a fair price 61% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range ₹615.65 – ₹1,571 · fair‑value band ₹483.98 – ₹946.54 · the ₹1,571 price screens above the ₹615.63 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Company profile
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.
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The company operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments. It offers savings, salary, pension, current, trade, escrow, foreign currency, and vostro accounts, as well as time, fixed, recurring, and security deposits.
The company also provides home, car, two-wheeler, personal, education, gold, and commercial business loans, as well as loans against securities, shares, mutual funds, and property; working capital finance, term loans, collateral free loans, loans without financials, finance for importers and exporters, and overdraft facilities, as well as loans for new entities and card swipes; and credit, debit, prepaid, travel, forex, and corporate cards.
In addition, it offers pockets wallet; fixed income products; investment products, such as mutual funds, gold monetization schemes, initial public offerings, and other online investment services; and agri and rural business, farmer finance, tractor loans, and micro banking services.
Further, the company provides portfolio management, trade, foreign exchange, locker, private and NRI banking, and cash management services; family wealth and demat accounts; commercial and investment banking, capital market, custodial, and institutional banking services; general, life health, personal accident, fire, travel, and motor insurance products; and internet, mobile, and phone banking services.
Additionally, it offers securities investment, broking, trading, and underwriting services; and merchant banking, trusteeship, housing finance, pension fund management, asset management, investment advisory, points of presence, and private equity/venture capital fund management services.
The company was founded in 1955 and is headquartered in Mumbai, India.
Stock analysis
ICICI Bank Limited (ICICIBANK) currently trades at ₹1,571, while our model-based Fair Value estimate is ₹615.63, 61% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ₹687.40 per share, and 0 of the 6 models we run sit above the ₹1,571 price.
Bear case: the Dividend Discount group reads lowest at ₹149.63, and 6 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: ₹483.98 (bear) to ₹946.54 (bull), the price of ₹1,571 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 58/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
ICICI Bank Limited reported revenue of ₹3.1T in FY2026 versus ₹1.2T in FY2022, a compound +28.0%/yr. Reported net income was ₹542B in FY2026, compounding +21.2%/yr from FY2022.
Key figures
Market cap ₹11.4T (≈ $121B) Large · P/E ratio 20.3 · P/S ratio 5.37 · EPS (TTM) ₹77.36 · Dividend yield 0.8% · Net margin 27.8% · Return on equity 16.5% · Return on assets (EBIT) 2.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 72 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 31% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −61%, ICICIBANK screens richer than that median.
Fair Value models
All 6 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
ICICIBANK screens overvalued: fair value 61% below the price. Compare with China Merchants Bank Co →
Compare ICICI Bank Limited with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 1000 stocks
Valuation Multiplesvs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- P/B ratio by industry
- Net margin by industry
- Piotroski F-Score screener with fair value
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Postal Savings Bank of China Co 601658 | ¥5.53 | ¥7.59 | +37% | vs ICICIBANK |
| China Merchants Bank Co 600036 | ¥42.88 | ¥52.73 | +23% | vs ICICIBANK |
| BNP Paribas SA BNP | €91.93 | €106.01 | +15% | vs ICICIBANK |
| Intesa Sanpaolo S.p.A ISP | €6.18 | €4.49 | −27% | vs ICICIBANK |
| State Bank of India SBIN | ₹1,019 | ₹736.65 | −28% | vs ICICIBANK |
| UniCredit S.p.A UCG | €76.80 | €50.44 | −34% | vs ICICIBANK |
| Oversea-Chinese Banking Corporation O39 | 27.73 SGD | 18.20 SGD | −34% | vs ICICIBANK |
| Mizuho Financial Group MFG | $9.39 | $5.90 | −37% | vs ICICIBANK |
| DBS Group D05 | 69.72 SGD | 40.39 SGD | −42% | vs ICICIBANK |
| HDFC Bank Limited HDFCBANK | ₹788.25 | ₹406.39 | −48% | vs ICICIBANK |
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Frequently asked questions
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Key figures of ICICI Bank Limited
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