ICICI Bank Limited (IBN) vs Lloyds Banking Group PLC (LYG)

ICICI Bank Limited and Lloyds Banking Group PLC are both Banks Regional companies. ICICI Bank Limited is the larger, with a market value of $100.1B against $82.7B — 1.2× the size. Lloyds Banking Group PLC trades at the lower P/E: 16.3× against 17.2×. ICICI Bank Limited grew revenue faster over the last twelve months: −1.20% against −42.6%. Lloyds Banking Group PLC has the higher net margin (55.0% vs 17.7%) and the lower return on invested capital (0.00% vs 9.80%). Both pay a dividend; Lloyds Banking Group PLC yields more (6.78% vs 1.02%). Across the 19 metrics below, Lloyds Banking Group PLC leads on 10 and ICICI Bank Limited on 9.

Valuation

Metric IBN LYG Banks Regional median
P/E 17.23 16.28 12.15
P/S 2.86 7.46 2.37
P/B 2.37 1.34 1.21
Price to free cash flow 4.18 2.23 10.80
EV/EBITDA n/m n/m —
EV/Sales 2.95 (18.48) 2.27
Earnings yield 5.80% 6.14% 8.11%
Free cash flow yield 23.94% 44.85% 8.98%

Profitability

Metric IBN LYG Banks Regional median
Gross margin 71.98% 66.28% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 17.65% 55.01% 18.66%
Free cash flow margin 0.00% 0.00% 21.18%
Return on equity 14.95% 0.00% 10.64%
Return on assets 1.96% 0.00% 1.13%
Return on invested capital 9.80% 0.00% 8.33%

Growth

Metric IBN LYG Banks Regional median
Revenue growth (TTM) (1.20%) (42.59%) 6.61%
EPS growth (last fiscal year) 0.64% (10.00%) —
Revenue growth, 5-year CAGR 10.12% 3.00% 12.30%
Net income growth, 5-year CAGR 19.80% 37.87% 9.71%

Health

Metric IBN LYG Banks Regional median
Debt to equity 0.57 2.12 0.22
Current ratio 1.03 1.52 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric IBN LYG Banks Regional median
Dividend yield 1.02% 6.78% 3.75%
Payout ratio 0.00 0.29 0.27

Size

Metric IBN LYG Banks Regional median
Market cap 100.06b 82.72b 921.07m

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