Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
ICG plc is a global alternative asset manager specializing in private markets investments. Founded in 1989 as Intermediate Capital Group and rebranded to ICG plc in 2025, it manages $127 billion in assets under management as of December 2025, operating from 22 locations worldwide, including its headquarters in London. The firm invests client capital across diverse strategies such as Structured Capital, Private Equity Secondaries, Real Assets, Private Debt, and Credit, providing flexible financing solutions like mezzanine finance, leveraged credit, and minority equity to companies in Europe, Asia-Pacific, and North America. ICG plc partners with management teams, founders, and institutional investors, emphasizing responsible investing, long-term value creation, and a growth-oriented approach. With 686 permanent employees, it supports businesses through differentiated opportunities and has expanded via strategic partnerships, including with Amundi in 2025 and acquisitions in renewables and infrastructure. As a FTSE 100 constituent, ICG plc plays a key role in the alternative investment landscape, generating revenue from interest income and management fees.
£17.76
+£0.38 (+2.19%)
EOD Jul 3, 2026
Revenue grew 8.2%, steady but not accelerating.
Net debt of £5.45B represents 6.5x FCF, leverage limits flexibility.
10.8x earnings, 6.1x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
£1.03B
▲ +8.2% YoY
Net Income (TTM)
£479M
▲ +6.1% YoY
Op. Margin
—
ROIC
—
Cash Flow & Balance Sheet
FCF (TTM)
£839M
▲ +547.7% YoY
Op. Cash Flow (TTM)
£846M
▲ +521.7% YoY
Net Debt
£5.45B
Cash & Equiv.
£981M
3Y CAGR: +19.8%
3Y CAGR: +44.1%
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At a P/E of 10.8 and a price-to-free-cash-flow of 6.1, ICG (ICG.XLON) trades below a two-stage DCF intrinsic value of about £128.65 per share, so at £17.76 the stock looks undervalued (624.4% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, ICG scores 60/100 on Intrinsiqq's quality scorecard (a solid business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 4.8%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about £128.65 per share for ICG.XLON, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around £96.49. At today's £17.76, that puts the stock about 624.4% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
ICG scores 60 out of 100 on Intrinsiqq's quality score, a weighted blend of 6 metrics each scored 0 to 100, which makes it a solid business on these measures. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, ICG pays a regular dividend of about £0.84 per share per year (typically in quarterly installments), a yield of roughly 4.8% at the current price. That is a payout ratio of about 50.6% of earnings, so the dividend is well covered. ICG has grown the dividend at roughly 10.0% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For ICG.XLON's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. ICG.XLON currently trades below its estimated intrinsic value and scores 60/100 on quality (solid). It also yields about 4.8%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.