Latest Ratios: P/E Ratio 27.5x · EV/EBITDA 6.7x · ROE 3.7%. (2001–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.4B | $7.4B | $6.4B | $6.5B | $9.4B | $12.4B | $6.5B | $6.1B | $7.2B | $5.2B | $5.2B |
| Enterprise Value | $8.9B | $9.8B | $8.3B | $8.7B | $11.8B | $15.0B | $9.0B | $8.6B | $9.5B | $8.3B | $8.5B |
| P/E Ratio → | 27.50 | 31.72 | 15.44 | 10.02 | 4.57 | 15.35 | 270.05 | 12.61 | 5.84 | 13.93 | — |
| P/S Ratio | 0.89 | 1.03 | 0.93 | 0.86 | 0.94 | 1.79 | 1.28 | 1.17 | 1.30 | 0.95 | 0.98 |
| P/B Ratio | 1.02 | 1.18 | 1.06 | 1.07 | 1.65 | 2.63 | 1.58 | 1.51 | 1.85 | 1.76 | 1.97 |
| P/FCF | 49.14 | 56.72 | 9.80 | 7.93 | 6.81 | 27.41 | 36.32 | 14.76 | 150.91 | 13.23 | 15.68 |
| P/OCF | 6.70 | 7.73 | 4.68 | 4.05 | 4.42 | 11.69 | 8.04 | 6.19 | 11.68 | 6.09 | 5.42 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.38 | 1.22 | 1.16 | 1.18 | 2.15 | 1.78 | 1.64 | 1.72 | 1.53 | 1.59 |
| EV / EBITDA | 6.72 | 7.46 | 6.08 | 5.21 | 2.96 | 8.64 | 13.00 | 7.09 | 5.01 | 8.02 | 21.23 |
| EV / EBIT | 12.59 | 14.00 | 10.66 | 7.70 | 3.34 | 12.49 | 61.95 | 11.78 | 6.05 | 13.76 | 711.09 |
| EV / FCF | — | 75.68 | 12.83 | 10.72 | 8.55 | 33.01 | 50.47 | 20.79 | 198.91 | 21.25 | 25.55 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.6% | 30.6% | 33.0% | 35.4% | 50.2% | 37.5% | 29.5% | 34.5% | 33.4% | 30.9% | 31.0% |
| Operating Margin | 9.8% | 9.8% | 11.3% | 15.1% | 35.1% | 17.4% | 4.0% | 14.3% | 27.3% | 11.6% | -0.1% |
| Net Profit Margin | 3.2% | 3.2% | 5.9% | 8.6% | 21.6% | 11.3% | 0.2% | 9.0% | 22.3% | 6.7% | -2.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.7% | 3.7% | 6.8% | 11.0% | 41.3% | 17.7% | 0.3% | 11.9% | 36.2% | 13.0% | -4.2% |
| ROA | 1.9% | 1.9% | 3.5% | 5.5% | 18.9% | 7.5% | 0.1% | 5.3% | 14.2% | 4.2% | -1.4% |
| ROIC | 6.3% | 6.3% | 7.2% | 10.4% | 34.3% | 13.1% | 2.3% | 8.9% | 18.6% | 7.9% | -0.0% |
| ROCE | 7.7% | 7.7% | 8.6% | 12.6% | 39.9% | 15.2% | 2.7% | 10.7% | 23.1% | 9.7% | -0.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.44 | 0.44 | 0.38 | 0.45 | 0.49 | 0.64 | 0.67 | 0.64 | 0.62 | 1.10 | 1.27 |
| Debt / EBITDA | 2.09 | 2.09 | 1.67 | 1.60 | 0.71 | 1.74 | 3.95 | 2.13 | 1.27 | 3.11 | 8.42 |
| Net Debt / Equity | — | 0.39 | 0.33 | 0.38 | 0.42 | 0.54 | 0.62 | 0.62 | 0.59 | 1.07 | 1.24 |
| Net Debt / EBITDA | 1.87 | 1.87 | 1.43 | 1.35 | 0.60 | 1.46 | 3.64 | 2.05 | 1.21 | 3.03 | 8.20 |
| Debt / FCF | — | 18.96 | 3.02 | 2.78 | 1.74 | 5.59 | 14.15 | 6.02 | 48.00 | 8.02 | 9.87 |
| Interest Coverage | 2.36 | 2.36 | 5.18 | 7.09 | 25.67 | 11.11 | 1.45 | 6.73 | 16.61 | 6.27 | 0.13 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.33 | 1.33 | 1.54 | 1.53 | 1.75 | 1.50 | 1.31 | 1.52 | 1.39 | 1.17 | 1.27 |
| Quick Ratio | 0.71 | 0.71 | 0.84 | 0.88 | 0.93 | 0.90 | 0.73 | 0.78 | 0.74 | 0.64 | 0.64 |
| Cash Ratio | 0.16 | 0.16 | 0.19 | 0.22 | 0.19 | 0.22 | 0.14 | 0.11 | 0.11 | 0.07 | 0.06 |
| Asset Turnover | — | 0.58 | 0.60 | 0.65 | 0.85 | 0.63 | 0.52 | 0.57 | 0.64 | 0.62 | 0.63 |
| Inventory Turnover | 2.57 | 2.57 | 2.82 | 2.86 | 2.34 | 2.77 | 2.84 | 2.63 | 2.87 | 3.06 | 2.92 |
| Days Sales Outstanding | — | 82.87 | 77.95 | 78.32 | 66.55 | 87.96 | 88.81 | 78.25 | 81.00 | 75.05 | 78.13 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.5% | 3.0% | 3.9% | 7.3% | 12.4% | 2.2% | 1.8% | 4.4% | 3.3% | 4.6% | 3.1% |
| Payout Ratio | 99.1% | 99.1% | 61.7% | 73.3% | 54.0% | 35.2% | 1072.7% | 57.5% | 19.4% | 65.1% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.6% | 3.2% | 6.5% | 10.0% | 21.9% | 6.5% | 0.4% | 7.9% | 17.1% | 7.2% | — |
| FCF Yield | 2.0% | 1.8% | 10.2% | 12.6% | 14.7% | 3.6% | 2.8% | 6.8% | 0.7% | 7.6% | 6.4% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.5% | 3.0% | 3.9% | 7.3% | 12.4% | 2.2% | 1.8% | 4.4% | 3.3% | 4.6% | 3.1% |
| Shares Outstanding | — | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B |
Geopolitical and Concession Uncertainty
Based on current market data, ICL trades at a trailing P/E of 27.89, which appears elevated compared to its forward P/E of 11.99, suggesting that investors are pricing in a significant recovery in earnings power relative to the depressed levels observed in recent quarterly filings.
The wide gap between trailing and forward multiples indicates that the market is anticipating a normalization of commodity prices and improved operational efficiency. However, the P/FCF of 49.84 warrants caution, as it implies that current cash generation is insufficient to support the valuation without a substantial expansion in free cash flow margins.
As reported in financial statements, ICL's ROIC has remained stagnant, hovering around 2.0% in 2026Q1, which indicates that the company is struggling to generate returns on invested capital that meaningfully exceed its cost of capital given the heavy infrastructure requirements of its Dead Sea operations.
The low ROIC trend suggests that the capital-intensive nature of the business, combined with the Sheshinski tax regime, creates a structural ceiling on profitability. Investors should monitor whether the shift toward specialty products can improve these returns or if the asset base remains too bloated to drive efficient compounding.
According to recent quarterly data, ICL's cash conversion cycle reached 120 days in 2026Q1, driven by an inventory turnover period of 122 days, which highlights the logistical challenges of managing bulk mineral supply chains in a volatile global trade environment.
The high DIO and DSO figures suggest that ICL lacks significant pricing power to accelerate cash collection or optimize inventory levels effectively. This inefficiency ties up substantial capital, further pressuring the company's ability to maintain consistent liquidity during periods of cyclical downturns in the agricultural inputs market.
As evidenced by the company's diverse business model, the P/E ratio is a frequently misapplied metric for ICL because it fails to account for the heavy non-cash depreciation and royalty accruals that distort net income, thereby obscuring the true underlying cash-generating capacity of the bromine and potash segments.
Analysts should prioritize EV/EBITDA or cash-flow-based metrics to better evaluate the company's performance, as these measures strip away the accounting noise associated with the unique Israeli tax and concession structures. Relying solely on P/E risks misinterpreting the company's valuation by ignoring the significant capital intensity required to maintain its competitive moat.
Includes 30+ ratios · 25 years · Updated daily
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Quick answers to the most common questions about buying ICL stock.
ICL Group Ltd's current P/E ratio is 27.5x. The historical average is 15.1x. This places it at the 89th percentile of its historical range.
ICL Group Ltd's current EV/EBITDA is 6.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.6x.
ICL Group Ltd's return on equity (ROE) is 3.7%. The historical average is 22.7%.
Based on historical data, ICL Group Ltd is trading at a P/E of 27.5x. This is at the 89th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
ICL Group Ltd's current dividend yield is 3.50% with a payout ratio of 99.1%.
ICL Group Ltd has 30.6% gross margin and 9.8% operating margin.
ICL Group Ltd's Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.