Fact based stock research
ICICI Securities (NSEI:ISEC)

INE763G01038

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

ICICI Securities stock research in summary

icicisecurities.com

ANALYSIS: With an Obermatt Combined Rank of 92 (better than 92% compared with investment alternatives), ICICI Securities (Investment Banking & Brokerage, India) shares have much better financial characteristics than comparable stocks. Shares of ICICI Securities are low in value (priced high) with a consolidated Value Rank of 33 (worse than 67% of alternatives). But they show above-average growth (Growth Rank of 100) and are safely financed (Safety Rank of 56, which means below-average debt burdens). ...read more

RECOMMENDATION: A Combined Rank of 92, is a strong buy recommendation based on ICICI Securities's financial characteristics. Investors looking for growth and low financial risk may find this stock attractive. While the company ICICI Securities exhibits low value (Obermatt Value Rank of 33), which means that the stock price is rather high, it also demonstrates above-average growth (Obermatt Growth Rank of 100). This is a typical case, as high-growth companies are often expensive. Good financing practices (Obermatt Safety Rank of 56) are a double-edged sword: if the company continues growing, low debt limits shareholder returns. But if the company increases its debt, it will also increase risk. In other words, this is an investment on the safer side, despite the above-average price (low value). Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	33
Growth Rank	100
Safety Rank	56
Combined Rank	92

Country	India
Industry	Investment Banking & Brokerage
Index
Size class	Medium

19-Dec-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: ICICI Securities

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	35	29	23	33
GROWTH
GROWTH	90	75	55	100
SAFETY
SAFETY	42	62	50	56
SENTIMENT
SENTIMENT	n/a	51	35	^new
360° VIEW
360° VIEW	n/a	77	28	^new

Most recent update of the stock research: 19-Dec-2024. Financial reporting date used for calculating ranks: 30-Sep-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better ICICI Securities is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	35	29	23	33
GROWTH
GROWTH	90	75	55	100
SAFETY
SAFETY	42	62	50	56
COMBINED
COMBINED	61	83	23	92

Last update of combined financial performance: 19-Dec-2024. Stock analysis on combined financial performance: The higher the rank of ICICI Securities the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 33 (worse than 67% compared with alternatives), ICICI Securities shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, with three out of four indicators below average for ICICI Securities. Only the metric dividend yield has an above-average rank, reflecting that dividend practices are expected to be higher than 61% of comparable companies, making the stock an attractive buy for dividend investors. However, dividend investors may get disappointed because all other critical financial indicators are below the market median: Price-to-Sales is 29 which means that the stock price compared with what market professionals expect for future profits is higher than 71% of comparable companies, indicating a low value concerning ICICI Securities's sales levels. The same is valid for Price-to-Profit (also referred to as price-earnings, P/E) with a rank of 19 which means that the stock price compared with what market professionals expect for future profit levels is higher than 81% of comparable companies. In addition, Price-to-Book (also referred to as market-to-book ratio) with a Price-to-Book Rank of 12 is also low. Compared with invested capital, the stock price is higher than for 88% of comparable investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 33, is a hold recommendation based on ICICI Securities's stock price compared with the company's operational size and dividend yields. Should dividend investors pick ICICI Securities? The company-reported financials speak against it. The company is expensive compared with revenue and invested capital levels, two reliable company size indicators. In addition, it currently has a low level of profits. How can future dividends be paid in the case that profits remain low? Dividend investors should choose ICICI Securities only if they reasonably expect the low current profit levels to be transitory. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	19	17	34	29
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	55	27	29	19
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	6	3	5	12
DIVIDEND YIELD
DIVIDEND YIELD	80	72	35	61
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	35	29	23	33

Last update of Value Rank: 19-Dec-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of ICICI Securities; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 100 (better than 100% compared with alternatives) for 2024, ICICI Securities shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with all four indicators above average for ICICI Securities. Sales Growth has a value of 95, which means that, currently, professionals expect the company to grow more than 95% of its competitors. The same is valid for Profit Growth with a value of 89 and for Capital Growth with 100. In addition, Stock Returns had an above-average rank value of 57, which means they have been higher than 57% of comparable investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 100, is a buy recommendation for growth and momentum investors. Since all Growth Ranks are positive, ICICI Securities exhibits above-average growth momentum. This could be due to a uniquely strong market position, proprietary technology, or an extensive corporate acquisition strategy. Growth investors will find this an attractive investment opportunity, unless they expect that the current phase is transitory and will deteriorate in the future. The current performance could also be a temporary recovery from a very low point, such as a turn-around situation. In the case of a turn-around, the current performance may or may not be followed by a continuing positive development. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	71	42	23	95
PROFIT GROWTH
PROFIT GROWTH	n/a	46	65	89
CAPITAL GROWTH
CAPITAL GROWTH	n/a	57	76	100
STOCK RETURNS
STOCK RETURNS	86	100	75	57
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	90	75	55	100

Last update of Growth Rank: 19-Dec-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of ICICI Securities.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 56 (better than 56% compared with alternatives), the company ICICI Securities has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of ICICI Securities is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above-average for ICICI Securities. Refinancing is at 61, meaning the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 61% of its competitors. Liquidity is also good at 75, meaning the company generates more profit to service its debt than 75% of its competitors. This indicates that the company is safer when it comes to debt service. However, Leverage is rather large at 20, which means the company has an above-average debt-to-equity ratio. It has more debt than 80% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 56 (better than 56% compared with alternatives), ICICI Securities has a financing structure that is safer than that of its competitors. This is not bad if things go well. The higher debt level means better returns to shareholders if things go well. Many top-performing companies operate with higher debt levels, and ICICI Securities could be in that group. But if you expect the environment to turn rougher, the higher leverage could become a problem. The same is valid if you expect interest rates to rise. That could squeeze shareholder returns, which so far have benefitted from better conditions. In the long-term, investors may have a debt challenge with ICICI Securities and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	35	45	25	20
REFINANCING
REFINANCING	55	33	45	61
LIQUIDITY
LIQUIDITY	45	81	76	75
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	42	62	50	56

Last update of Safety Rank: 19-Dec-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of ICICI Securities and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	70	20	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	50	50	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	20	96	^new
MARKET PULSE
MARKET PULSE	n/a	60	22	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	51	35	^new

Last update of Sentiment Rank: 19-Dec-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for ICICI Securities.
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