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ICICI Bank (FRA:ICBA) Forward PE Ratio Explanation
The Forward PE Ratio of a company is often used to compare current earnings to estimated future earnings, as well as gaining a clearer picture of what earnings will look like without charges and other accounting adjustments. If earnings are expected to grow in the future, the Forward PE Ratio will be lower than the current PE Ratio. This measure is also used to compare one company to another with a forward-looking focus.
Trailing PE Ratio relies on what is already done. It uses the current share price and divides by the total EPS (Basic) over the past 12 months. PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio .
ICICI Bank Forward PE Ratio Related Terms
ICICI Bank Forward PE Ratio Historical Data
* Premium members only.
The historical data trend for ICICI Bank's Forward PE Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ICICI Bank Forward PE Ratio Chart
ICICI Bank Annual Data
Trend
2016-03
2017-03
2018-03
2019-03
2020-03
2021-03
2022-03
2023-03
2024-03
2025-03
2026-03
Forward PE Ratio
8.16
16.34
15.67
16.72
10.72
17.86
19.05
17.27
17.01
18.72
14.60
ICICI Bank Quarterly Data
2015-12
2016-03
2016-06
2016-09
2016-12
2017-03
2017-09
2018-03
2018-06
2018-09
2018-12
2019-03
2019-06
2019-09
2019-12
2020-03
2020-06
2020-09
2020-12
2021-03
2021-06
2021-09
2021-12
2022-03
2022-06
2022-09
2022-12
2023-03
2023-06
2023-09
2023-12
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
2026-03
Forward PE Ratio
10.91
8.16
8.26
10.95
9.19
16.34
17.89
15.67
17.30
21.83
26.18
16.72
18.08
22.03
17.12
10.72
20.41
21.10
17.04
17.86
19.53
24.51
18.25
19.05
18.25
20.08
18.12
17.27
18.35
17.73
16.75
17.01
18.73
19.88
18.69
18.72
19.66
18.46
15.62
14.60
FRA:ICBA vs PNC, USB: Forward PE Ratio Comparison
For the Banks - Regional subindustry, ICICI Bank's Forward PE Ratio, along with its competitors' market caps and Forward PE Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
ICICI Bank Forward PE Ratio vs Banks Industry
For the Banks industry and Financial Services sector, ICICI Bank's Forward PE Ratio distribution charts can be found below:
* The bar in red indicates where ICICI Bank's Forward PE Ratio falls into.
It's a measure of the price-to-earnings ratio (PE Ratio) using forecasted earnings for the calculation. While the earnings used are just an estimate and are not as reliable as current earnings data, there is still benefit in estimated P/E analysis. The forecasted earnings used in the formula can either be for the next 12 months or for the next full-year fiscal period.
ICICI Bank (FRA:ICBA) has a Forward PE Ratio of 18.18 as of Jul. 19, 2026. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on ICICI Bank and its competitors. According to the industry distribution chart, ICICI Bank ranks #771 out of 820 companies in the Banks industry, placing it in the top 94%.
Is ICICI Bank's Forward PE Ratio too high?
ICICI Bank's current Forward PE Ratio is 18.18. The Banks industry median Forward PE Ratio is 11.24. ICICI Bank's value of 18.18 is 61.7% above this industry median. Based on the distribution chart, ICICI Bank ranks #771 out of 820 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, ICICI Bank has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does ICICI Bank's Forward PE Ratio compare to PNC and USB?
According to the Banks industry distribution chart, ICICI Bank ranks #771 out of 820 companies for Forward PE Ratio. This places ICICI Bank in the lower half of its industry. The industry median Forward PE Ratio is 11.24. ICICI Bank's value of 18.18 is 61.7% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward PE Ratio for a Banks company?
The median Forward PE Ratio among Banks companies is 11.24, based on 820 companies in the industry. Companies in the top quartile (top 25%) have a Forward PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Forward PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ICICI Bank's current Forward PE Ratio of 18.18 is 61.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Forward PE Ratio mean?
A high Forward PE Ratio can signal that a stock is expensive relative to its fundamentals. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on ICICI Bank and its competitors. For the Banks industry, the median Forward PE Ratio is 11.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ICICI Bank's current Forward PE Ratio is 18.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ICICI Bank stock overvalued right now?
Based on GuruFocus' analysis, ICICI Bank (FRA:ICBA) is currently considered Fairly Valued. The stock's GF Value™ is €24.82, compared to a current price of €26.10 — trading 5.2% above its estimated fair value. The current Forward PE Ratio is 18.18 and 61.7% above the Banks industry median of 11.24. ICICI Bank's overall GF Score™ is 77/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Forward PE Ratio calculated?
Forward PE Ratio is calculated from a company's financial statements. For ICICI Bank (FRA:ICBA), the current Forward PE Ratio is 18.18 as of Jul. 19, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is ICICI Bank (FRA:ICBA) Overvalued in 2026?
Based on GuruFocus' analysis, ICICI Bank stock appears to be overvalued.
The current stock price of €26.10 is trading 5.2% above its estimated GF Value™ of €24.82.
GuruFocus considers ICICI Bank to be Fairly Valued.
Key valuation signals for FRA:ICBA:
Forward PE Ratio: 18.18
GF Value™: €24.82 vs. price of €26.10 (5.2% above fair value)
Industry Position: 61.7% above the Banks median (#771 of 820)
No single metric tells the full story. See the FRA:ICBA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ICICI Bank Ltd provides banking services. The company's operating segments include Retail Banking; Wholesale Banking; Treasury, Life insurance, Other Banking Business, and Others. The company generates maximum revenue from the Retail Banking segment which includes exposures of the Bank, which satisfy the four qualifying criteria of a regulatory retail portfolio as stipulated by RBI guidelines on the Basel III framework as well as includes income from credit cards, debit cards, third party product distribution, and the associated costs. Geographical segments include Domestic operations and Foreign operations. The company generates the majority of its revenue from the domestic operations.
77GF Score
Get the complete analysis for FRA:ICBA
Forward PE Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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