Assessing Industrial and Commercial Bank of China (SEHK:1398) Valuation As Renewed Investor Interest Builds

Simply Wall St.01-30

Renewed interest in Industrial and Commercial Bank of China (SEHK:1398) has picked up after-hours, with trading volume in Hong Kong rising alongside supportive economic data that has drawn investors ...

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See our latest analysis for Industrial and Commercial Bank of China. At a latest share price of HK$6.64, Industrial and Commercial Bank of China has seen a 7.62% 7 day share price return and a 10.30% 90 day share price return. Its 1 year total shareholder return of 32.46% and 3 year total shareholder return of about 2x suggest momentum has been building over time as investors reassess income potential and perceived risks around large Chinese banks. If this renewed interest in big banks has your attention, it could be a good moment to broaden your watchlist and check out fast growing stocks with high insider ownership as another source of ideas. With the share price already up over the past year and income appeal in focus, the real question now is whether Industrial and Commercial Bank of China still trades at a discount or if the market is already pricing in future growth. AdvertisementMost Popular Narrative: 8.6% Undervalued Compared to the narrative fair value of about HK$7.26, the latest HK$6.64 close leaves some valuation gap that hinges on how future earnings play out.  Strong participation and leadership in the Belt and Road Initiative (with ICBC as a major financier and RMB clearing bank in 12 countries) and expanding cross border RMB business (up 6% YoY) position ICBC to capitalize on rising international trade and investment, supporting sustainable top line revenue growth and global market share.  Read the complete narrative. Curious what kind of revenue expansion, profit margins, and future earnings multiple are baked into that valuation gap? The narrative spells out a clear numbers based roadmap. Result: Fair Value of HK$7.26 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, that gap only holds if pressures on net interest margins and policy driven lending do not squeeze profitability more than analysts currently expect. Find out about the key risks to this Industrial and Commercial Bank of China narrative. Another View: Market Multiple Sends A Different Signal While our fair value estimate suggests Industrial and Commercial Bank of China is trading at a discount, the current P/E of about 6x sits in line with the Hong Kong banks industry at 6x and only slightly below peers at 6.3x. The fair ratio of 7.1x points to some upside. However, the modest gap raises a simple question: How much margin of safety do you really have if sentiment turns? See what the numbers say about this price — find out in our valuation breakdown. SEHK:1398 P/E Ratio as at Jan 2026 Build Your Own Industrial and Commercial Bank of China Narrative If you see the numbers differently or simply prefer to test your own assumptions, you can build a full ICBC view yourself in minutes: Do it your way. A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding Industrial and Commercial Bank of China. Looking for more investment ideas? If ICBC has sparked your curiosity, do not stop there. The Screener can quickly surface fresh ideas that fit your style before the next opportunity moves.  Spot potential value by checking out these 865 undervalued stocks based on cash flows that currently trade below their estimated worth based on cash flows and fundamentals. Ride powerful tech trends by scanning these 23 AI penny stocks pushing ahead in artificial intelligence across software, chips, and data infrastructure. Lock in reliable cash returns by reviewing these 14 dividend stocks with yields > 3% that offer higher yields with supporting financials.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.New: AI Stock Screener & AlertsOur new AI Stock Screener scans the market every day to uncover opportunities.• Dividend Powerhouses (3%+ Yield)• Undervalued Small Caps with Insider Buying• High growth Tech and AI CompaniesOr build your own from over 50 metrics.Explore Now for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. 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