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Intermediate Capital Group

DB:I2X2
Snowflake Description

Good value average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
I2X2
DB
£2B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Intermediate Capital Group plc is a private equity firm specializing in direct and fund of fund investments. The last earnings update was 134 days ago. More info.


Add to Portfolio Compare Print
  • Intermediate Capital Group is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Intermediate Capital Group has significant price volatility in the past 3 months.
I2X2 Share Price and Events
7 Day Returns
0.4%
DB:I2X2
3%
DE Capital Markets
2.2%
DE Market
1 Year Returns
-23.3%
DB:I2X2
-6.9%
DE Capital Markets
-17.2%
DE Market
I2X2 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Intermediate Capital Group (I2X2) 0.4% -46.4% -50.3% -23.3% 18.7% 3.4%
DE Capital Markets 3% -17.7% -13.1% -6.9% -24.7% -54.9%
DE Market 2.2% -15.7% -24% -17.2% -23.3% -27.8%
1 Year Return vs Industry and Market
  • I2X2 underperformed the Capital Markets industry which returned -6.9% over the past year.
  • I2X2 underperformed the Market in Germany which returned -17.2% over the past year.
Price Volatility
I2X2
Industry
5yr Volatility vs Market

Value

 Is Intermediate Capital Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Intermediate Capital Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Intermediate Capital Group.

DB:I2X2 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= £5.92 * 17.4%
£1.03
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. £5.92
Discount Rate (Cost of Equity) See below 6%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:I2X2
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.753 (1 + (1- 19%) (52.54%))
1.049
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.049 * 6.07%)
5.98%

Discounted Cash Flow Calculation for DB:I2X2 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Intermediate Capital Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:I2X2 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (17.4% – 5.98%) * £5.92)
£0.67
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= £0.67 / (5.98% - -0.39%)
£10.57
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= £5.92 + £10.57
£16.48
DB:I2X2 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:I2X2 represents 1.12486x of LSE:ICP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.12486x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 16.48 x 1.12486
€18.54
Value per share (EUR) From above. €18.54
Current discount Discount to share price of €9.73
= -1 x (€9.73 - €18.54) / €18.54
47.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Intermediate Capital Group is available for.
Intrinsic value
48%
Share price is €9.73 vs Future cash flow value of €18.54
Current Discount Checks
For Intermediate Capital Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Intermediate Capital Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Intermediate Capital Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Intermediate Capital Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Intermediate Capital Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:I2X2 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in GBP £0.71
LSE:ICP Share Price ** LSE (2020-04-01) in GBP £8.65
Germany Capital Markets Industry PE Ratio Median Figure of 16 Publicly-Listed Capital Markets Companies 22.55x
Germany Market PE Ratio Median Figure of 398 Publicly-Listed Companies 16.76x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Intermediate Capital Group.

DB:I2X2 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:ICP Share Price ÷ EPS (both in GBP)

= 8.65 ÷ 0.71

12.25x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Intermediate Capital Group is good value based on earnings compared to the DE Capital Markets industry average.
  • Intermediate Capital Group is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Intermediate Capital Group's expected growth come at a high price?
Raw Data
DB:I2X2 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.25x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
7.6%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 6 Publicly-Listed Capital Markets Companies 1.59x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

DB:I2X2 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.25x ÷ 7.6%

1.61x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Intermediate Capital Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Intermediate Capital Group's assets?
Raw Data
DB:I2X2 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in GBP £4.95
LSE:ICP Share Price * LSE (2020-04-01) in GBP £8.65
Germany Capital Markets Industry PB Ratio Median Figure of 31 Publicly-Listed Capital Markets Companies 1.5x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.44x
DB:I2X2 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:ICP Share Price ÷ Book Value per Share (both in GBP)

= 8.65 ÷ 4.95

1.75x

* Primary Listing of Intermediate Capital Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Intermediate Capital Group is overvalued based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Intermediate Capital Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Intermediate Capital Group has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Intermediate Capital Group expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Intermediate Capital Group expected to grow at an attractive rate?
  • Intermediate Capital Group's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Intermediate Capital Group's earnings growth is positive but not above the Germany market average.
  • Intermediate Capital Group's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:I2X2 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:I2X2 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 7.6%
DB:I2X2 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 10.7%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 39.4%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:I2X2 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:I2X2 Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 696 402 300 1
2022-03-31 647 346 282 2
2021-03-31 564 326 258 4
2020-04-01
2020-03-31 527 240 254 4
DB:I2X2 Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-09-30 457 37 201
2019-06-30 436 4 190
2019-03-31 414 -28 180
2018-12-31 438 -138 231
2018-09-30 462 -247 282
2018-06-30 444 -297 266
2018-03-31 426 -346 251
2017-12-31 433 -255 226
2017-09-30 440 -164 202
2017-06-30 453 -125 210
2017-03-31 466 -86 218
2016-12-31 428 -163 191

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Intermediate Capital Group's earnings are expected to grow by 7.6% yearly, however this is not considered high growth (20% yearly).
  • Intermediate Capital Group's revenue is expected to grow by 10.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:I2X2 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Intermediate Capital Group Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:I2X2 Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31 1.06 1.06 1.06 1.00
2022-03-31 1.00 1.10 0.88 3.00
2021-03-31 0.94 1.01 0.80 3.00
2020-04-01
2020-03-31 0.90 0.93 0.86 5.00
DB:I2X2 Past Financials Data
Date (Data in GBP Millions) EPS *
2019-09-30 0.71
2019-06-30 0.67
2019-03-31 0.63
2018-12-31 0.81
2018-09-30 0.99
2018-06-30 0.94
2018-03-31 0.89
2017-12-31 0.79
2017-09-30 0.70
2017-06-30 0.72
2017-03-31 0.75
2016-12-31 0.66

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Intermediate Capital Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Intermediate Capital Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Intermediate Capital Group has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Intermediate Capital Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Intermediate Capital Group's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Intermediate Capital Group's year on year earnings growth rate has been positive over the past 5 years.
  • Intermediate Capital Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Intermediate Capital Group's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
Intermediate Capital Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Intermediate Capital Group Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:I2X2 Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 457.40 200.60 230.50
2019-06-30 435.85 190.35 229.20
2019-03-31 414.30 180.10 227.90
2018-12-31 438.15 230.90 234.25
2018-09-30 462.00 281.70 237.00
2018-06-30 443.85 266.35 226.50
2018-03-31 425.70 251.00 216.00
2017-12-31 432.85 226.40 209.60
2017-09-30 440.00 201.80 203.20
2017-06-30 452.75 209.80 198.75
2017-03-31 465.50 217.80 194.30
2016-12-31 428.30 190.90 179.35
2016-09-30 391.10 164.00 164.40
2016-06-30 369.60 151.30 153.15
2016-03-31 348.10 138.60 141.90
2015-12-31 353.20 166.40 148.05
2015-09-30 358.30 194.20 154.20
2015-06-30 346.20 191.75 147.80
2015-03-31 334.10 189.30 141.40
2014-12-31 302.95 143.80 139.55
2014-09-30 271.80 98.30 137.70
2014-06-30 299.25 120.30 134.50
2014-03-31 326.70 142.30 131.30
2013-12-31 352.15 174.95 113.15
2013-09-30 377.60 207.60 95.00
2013-06-30 314.20 166.00 91.05

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Intermediate Capital Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Intermediate Capital Group used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if Intermediate Capital Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Intermediate Capital Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Intermediate Capital Group has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Intermediate Capital Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Intermediate Capital Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Intermediate Capital Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Intermediate Capital Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Intermediate Capital Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Intermediate Capital Group Company Filings, last reported 6 months ago.

DB:I2X2 Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 1,426.70 1,288.90 407.40
2019-06-30 1,426.70 1,288.90 407.40
2019-03-31 1,394.30 1,243.40 405.60
2018-12-31 1,394.30 1,243.40 405.60
2018-09-30 1,370.20 1,250.60 347.60
2018-06-30 1,370.20 1,250.60 347.60
2018-03-31 1,318.10 1,102.50 600.70
2017-12-31 1,318.10 1,102.50 600.70
2017-09-30 1,189.00 66.50 473.60
2017-06-30 1,189.00 66.50 473.60
2017-03-31 1,173.30 1,161.70 821.20
2016-12-31 1,173.30 1,161.70 821.20
2016-09-30 1,069.30 167.70 645.20
2016-06-30 1,069.30 167.70 645.20
2016-03-31 1,242.10 928.90 210.80
2015-12-31 1,242.10 928.90 210.80
2015-09-30 1,168.70 61.80 225.30
2015-06-30 1,168.70 61.80 225.30
2015-03-31 1,458.60 719.70 403.20
2014-12-31 1,458.60 719.70 403.20
2014-09-30 1,451.50 570.50 168.30
2014-06-30 1,451.50 570.50 168.30
2014-03-31 1,514.10 596.20 286.30
2013-12-31 1,514.10 596.20 286.30
2013-09-30 1,521.80 738.70 198.70
2013-06-30 1,521.80 738.70 198.70
  • Intermediate Capital Group's level of debt (90.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (39.4% vs 90.3% today).
  • Debt is not well covered by operating cash flow (2.8%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Intermediate Capital Group's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Intermediate Capital Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Intermediate Capital Group has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Intermediate Capital Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.78%
Current annual income from Intermediate Capital Group dividends. Estimated to be 6.73% next year.
If you bought €2,000 of Intermediate Capital Group shares you are expected to receive €116 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Intermediate Capital Group's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • Intermediate Capital Group's dividend is above the markets top 25% of dividend payers in Germany (4.87%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:I2X2 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 322 Stocks 3.8%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:I2X2 Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2023-03-31 0.55 1.00
2022-03-31 0.63 7.00
2021-03-31 0.54 9.00
2020-04-01
2020-03-31 0.49 9.00
DB:I2X2 Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-11-19 0.500 3.559
2019-05-22 0.450 3.253
2018-11-15 0.310 2.962
2018-05-22 0.300 2.867
2017-05-25 0.270 2.746
2016-11-15 0.867 12.050
2016-06-09 0.972 16.035
2016-05-24 0.972 13.110
2015-11-17 0.251 3.747
2015-05-20 0.289 4.399
2014-11-18 0.280 4.361
2014-06-09 0.276 5.269
2014-05-20 0.276 5.083
2013-11-21 0.266 4.709
2013-06-17 0.263 4.333
2013-05-22 0.263 4.401
2012-05-28 0.249 5.938
2012-05-22 0.249 7.343
2011-06-06 0.236 7.127
2011-06-01 0.236 5.386
2010-06-02 0.223 5.566
2009-06-16 0.538 14.654
2009-06-02 0.538 7.558

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Intermediate Capital Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Intermediate Capital Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Intermediate Capital Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Intermediate Capital Group has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Intermediate Capital Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Benoît Laurent Durteste
COMPENSATION £9,525,900
AGE 51
TENURE AS CEO 2.8 years
CEO Bio

Mr. Benoît Laurent Pierre Durteste has been the Chief Executive Officer of Intermediate Capital Group plc since July 25, 2017 and serves as its Chief Investment Officer since July 25, 2017. Mr. Durteste is an experienced investor with a strong understanding of the markets in which the Group operates. During his time on the Board he has been a strong contributor to Intermediate Capital Group Plc’s strategic development, including leading Intermediate Capital Group Plc’s European investment business. He contributes a thorough understanding of financial markets and Intermediate Capital Group Plc’s investment portfolio to Board proceedings. Mr. Durteste served as Managing Director at Intermediate Capital Group plc since May 21, 2012 and also served as the Head of European Investments until July 25, 2017. He has been an Executive Director of Intermediate Capital Group plc since May 21, 2012. Mr. Durteste is responsible for mezzanine, junior debt, equity investments in Europe, South Europe and France. He joined ICG’s Paris office in September 2002 from Swiss Re and moved to ICG’s London office in 2007. Mr. Durteste served as an Investment Director at ICG since November 2005. He served as Head of European Mezzanine, Mezzanine Executive of France and Executive Officer of France at Intermediate Capital Group Plc. He joined ICG from Swiss Re where he worked as a Managing Director in Structured Finance division. He worked six years at BNP Paribas leveraged finance and for GE Capital notably taking Chief Financial Officer position at a GECC portfolio company for GE Capital. He is Chairman of the BVCA Debt Funds Working Group. He serves as Member of the Supervisory Board at Ethypharm S.A. He has Other Directorships in ICG Group entities and ICG investee entities. Mr. Durteste is a graduate of the Ecole Supérieure de Commerce de Paris.

CEO Compensation
  • Benoît Laurent's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Benoît Laurent's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Intermediate Capital Group management team in years:

2.3
Average Tenure
  • The tenure for the Intermediate Capital Group management team is about average.
Management Team

Benoît Laurent Durteste

TITLE
CEO, Chief Investment Officer & Executive Director
COMPENSATION
£10M
AGE
51
TENURE
2.8 yrs

Vijay Bharadia

TITLE
Chief Financial & Operating Officer and Executive Director
AGE
52
TENURE
0.8 yrs

Ian Stanlake

TITLE
Head of Finance & Investor Relations & Financial Controller

Andy Lewis

TITLE
General Counsel & Company Secretary

Greg O'Connor

TITLE
Head of International Compliance

Andreas Mondovits

TITLE
Senior MD & Head of Marketing & Client Relations

Antje Hensel-Roth

TITLE
Senior MD & Head of Human Resources
TENURE
2.3 yrs

Hadj Djemaï

TITLE
Head of Southern Europe

Rosine Vitman

TITLE
Managing Director & Head of European Portfolio Monitoring

Max Mitchell

TITLE
Senior MD & Head of Direct Lending for Europe
Board of Directors Tenure

Average tenure and age of the Intermediate Capital Group board of directors in years:

2.6
Average Tenure
58
Average Age
  • The average tenure for the Intermediate Capital Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Mark Davies

TITLE
Chairman
AGE
67
TENURE
0.3 yrs

Benoît Laurent Durteste

TITLE
CEO, Chief Investment Officer & Executive Director
COMPENSATION
£10M
AGE
51
TENURE
7.9 yrs

Vijay Bharadia

TITLE
Chief Financial & Operating Officer and Executive Director
AGE
52
TENURE
0.9 yrs

Kathryn Purves

TITLE
Non-Executive Director
COMPENSATION
£109K
AGE
44
TENURE
6.3 yrs

Rusty Nelligan

TITLE
Non-Executive Director
COMPENSATION
£109K
AGE
65
TENURE
3.6 yrs

Andrew Sykes

TITLE
Senior Independent Director
COMPENSATION
£112K
AGE
62
TENURE
1.8 yrs

Virginia Holmes

TITLE
Non-Executive Director
COMPENSATION
£109K
AGE
58
TENURE
3.1 yrs

Stephen Welton

TITLE
Non-Executive Director
COMPENSATION
£89K
AGE
58
TENURE
2.6 yrs

Amy Schioldager

TITLE
Non-Executive Director
COMPENSATION
£101K
AGE
56
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
28. May 19 Buy Kevin Allen Parry Individual 23. May 19 23. May 19 7,720 €14.67 €113,227
X
Management checks
We assess Intermediate Capital Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Intermediate Capital Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Intermediate Capital Group plc is a private equity firm specializing in direct and fund of fund investments. Within direct it specializes in private debt, credit and equity investments. It invests in middle market, mature, growth capital, reinvestment, industry consolidations, bridge financing, restructuring of a shareholder base, acquisitions, public to private transactions with or without private equity backing, leveraged and acquisition finance, leveraged credit, partnership equity, management buyouts and management buyins, secondary investments, development capital, public quoted company finance, off-balance-sheet finance, refinancing and recapitalizations, and pre-IPO financing. The firm does not invest in property companies, early stage funds or start-ups. Within fund of fund, it specializes in secondary investments. The firm prefer to invest in all sector with focus on insurance, healthcare, education and childcare. It prefers to invest in commercial real estate assets and commercial property in the United Kingdom. It seeks to invest in companies whose principal place of business is DACH region, European Union, Pan-European, Germany, Spain, Nordic, United States, United Kingdom, France, Italy, Bulgaria, Romania, North America, South East Asia and the Asia Pacific, including Hong Kong, South Korea, Singapore, Taiwan, Japan, Australia, Oceania, and New Zealand. The firm provides mezzanine financing in the range between €15 million ($20.31 million) and €500 million ($676.1 million) to firms with an enterprise values between $ 40.62 million and €1 billion ($1353.94 million). Its real estate debt investments typically are in the range £5 million ($8.20 million) and £50 million ($82.1 million) secured on commercial real estate assets in the value range £20 million ($32.84 million) and £200 million ($328.38 million). The firm seeks to acquire minority, and majority stakes. It generally structures its financing in the form of subordinated loan with equity warrants, as preference shares, preferred equity, mezzanine debt, convertible loan, leveraged loans, senior, junior, and mezzanine loans, and CDOs. The firm provides loans for a maturity period between seven years and 10 years with repayments to be made in one payment at final maturity. Its mezzanine investments are usually structured to provide a cash yield between three percent and four percent over the relevant interbank rate, plus an additional return to reflect the risk involved. It also invests in the debt, fixed income and alternate asset markets. The firm’s alternative capital solutions invest in mid-market companies, in Europe, the United States and Asia Pacific. It invests in corporate businesses through private debt, senior, junior and sub-ordinate debt, mezzanine, structured loans and equity in Europe, Asia Pacific and North America. Alternative Credit strategies are structured in portfolio format, such as CLOs, RMBS, CMBS and correlation tranches. It focus on structured credit, and credit portfolios sourced from banks balance sheets. The firm’s direct lending strategies invest in senior secured and subordinated debt investments in companies across Europe either as the lead arranger or the sole lender. In strategic secondaries, it focuses on restructuring, mainly in the North America, United States and Europe with a focus on leading restructuring and recapitalization transactions for mature private equity funds. In fixed income solutions, the firm invests in leveraged loans and high yield bonds; corporate loans and bonds- segregated loan strategies as well as multi-asset credit funds; multi-asset credit strategies- European loans and European high yield bonds; CLOsin Europe and in the United States, Asset Backed Securities and securitised debt- Europe and in the United States. It is also a manager of third party mezzanine, CDO, and Institutional Client Funds. It seeks to make balance sheet investments and seeks Board attendance rights from its portfolio companies. Intermediate Capital Group plc was founded in 1989 and is based in London with additional offices across Europe, North America, and Asia.

Details
Name: Intermediate Capital Group plc
I2X2
Exchange: DB
Founded: 1989
£2,797,490,352
285,272,102
Website: http://www.icgam.com
Address: Intermediate Capital Group plc
Juxon House,
100 St Pauls Churchyard,
London,
Greater London, EC4M 8BU,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE ICP Ordinary Shares London Stock Exchange GB GBP 23. Jun 1994
OTCPK ICGU.F Ordinary Shares Pink Sheets LLC US USD 23. Jun 1994
DB I2X2 Ordinary Shares Deutsche Boerse AG DE EUR 23. Jun 1994
BATS-CHIXE ICPL Ordinary Shares BATS 'Chi-X Europe' GB GBP 23. Jun 1994
Number of employees
Current staff
Staff numbers
326
Intermediate Capital Group employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/01 21:40
End of day share price update: 2020/04/01 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2019/11/19
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.