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ICICI Securities Key Financial Ratios

NSE:ISEC | MISCELLANEOUS

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Profitability Margins

2-year trend showing gross, operating, and net profit margins

FY 2020 - FY 2021

ICICI Securities's net profit margin of 41.3% in FY2021 reflects excellent profitability, with operating margin at 59.5% and gross margin at 95.3%.

Understanding Profitability Margins

In FY 2021, ICICI Securities posted a gross margin of 95.3%, an operating margin of 59.5%, a net margin of 41.3%. Gross Margin = (Revenue - COGS) / Revenue; Operating Margin = EBIT / Revenue; Net Margin = Net Income / Revenue. Typical healthy ranges: Gross 20-40%, Operating 10-20%, Net 5-10%+. Consistent or improving margins indicate strong competitive positioning.

Company Performance

2-year trend showing revenue, gross profit, and net profit

FY 2020 - FY 2021

ICICI Securities's revenue grew 51.6% to 25.86B and net profit grew 104.0% to 10.68B YoY in FY2021, indicating strong business momentum.

Understanding Company Performance

In FY 2021, ICICI Securities's revenue grew by 51.6% year-over-year. Revenue is total income from operations. Gross Profit is revenue minus cost of goods. Net Profit is the bottom line after all expenses. Consistent growth across all three signals a healthy, expanding business.

Return on Equity (ROE)

2-year trend showing shareholder returns

FY 2020 - FY 2021

ICICI Securities's ROE of 58.6% in FY2021 indicates excellent capital efficiency.

Understanding Return on Equity (ROE)

In FY 2021, ICICI Securities reported an ROE of 58.6%. ROE = (Net Income / Shareholders' Equity) x 100. Measures how efficiently the company turns equity into profit. Above 15% is generally strong; above 25% is excellent. Very high ROE may signal high leverage — check alongside debt levels.

Net Income vs Free Cash Flow

2-year trend comparing profitability with cash generation

FY 2020 - FY 2021

ICICI Securities's FCF/NI ratio of -1.55x in FY2021 indicates weak cash generation raising concerns about earnings quality.

Understanding Net Income vs Free Cash Flow

In FY 2021, ICICI Securities's free cash flow trailed net income. Free Cash Flow = Operating Cash Flow - Capital Expenditure. When FCF exceeds net income, it suggests high-quality, cash-backed earnings. Persistent gaps may indicate aggressive accounting or heavy capex needs.

Net Income vs Operating Cash Flow

2-year trend comparing profitability with cash from operations

FY 2020 - FY 2021

ICICI Securities's OCF/NI ratio of -1.51x in FY2021 indicates weak cash conversion raising concerns about earnings quality.

Understanding Net Income vs Operating Cash Flow

In FY 2021, ICICI Securities's operating cash flow trailed net income. Operating Cash Flow is the actual cash from core operations. OCF exceeding net income signals strong cash collection. OCF trailing net income may indicate aggressive revenue recognition or working capital issues.

Leverage Ratios

Measure a company's financial leverage, liquidity, and ability to meet financial obligations.

Current Ratio Analysis

2-year trend showing short-term liquidity position

FY 2020 - FY 2021

ICICI Securities's current ratio of 1.37x in FY2021 indicates healthy short-term liquidity.

Understanding Current Ratio

In FY 2021, ICICI Securities reported a current ratio of 1.37. Current Ratio = Current Assets / Current Liabilities. Measures short-term liquidity. A ratio of 1.5-3.0 is generally healthy; below 1.0 signals liquidity risk; above 3.0 may indicate underutilized assets.

Interest Coverage Ratio Analysis

2-year trend showing ability to service debt

FY 2020 - FY 2021

ICICI Securities's interest coverage ratio of 14.3x in FY2021 indicates comfortable debt servicing capacity.

Understanding Interest Coverage Ratio

In FY 2021, ICICI Securities reported an interest coverage ratio of 14.3x. Interest Coverage = EBIT / Interest Expense. Shows how many times operating profit covers interest payments. Above 5x is comfortable; below 1.5x signals potential difficulty servicing debt.

Debt-to-Equity Ratio Analysis

2-year trend showing financial leverage and capital structure

FY 2020 - FY 2021

ICICI Securities's debt-to-equity ratio of 1.99x in FY2021 reflects moderate leverage — acceptable for capital-intensive industries.

Understanding Debt-to-Equity Ratio

In FY 2021, ICICI Securities reported a debt-to-equity ratio of 1.99. Debt-to-Equity = Total Debt / Total Equity. Below 1.0 is conservative; 1.0-2.0 is moderate; above 2.0 indicates higher financial risk. Capital-intensive industries naturally carry higher ratios.

Total Debt Analysis

2-year trend showing total debt with year-over-year changes

FY 2020 - FY 2021

ICICI Securities's debt increased 119.2% YoY in FY2021 — rising leverage demands close monitoring.

Understanding Total Debt

In FY 2021, ICICI Securities's total debt increased by 119.2% year-over-year. Total Debt includes short-term debt, long-term loans, debentures, and capital leases. YoY changes (shown as percentages) reveal whether the company is leveraging up or deleveraging.

Shares Outstanding

Year-over-year change in diluted shares outstanding

ICICI Securities's diluted shares increased 0.1% YoY in FY2021 — share dilution.

Over 2 years (FY2020–FY2021), diluted shares increased 0.1% from 322.40M to 322.80M, indicating cumulative dilution.

Understanding Shares Outstanding

In FY 2021, ICICI Securities's diluted shares increased by 0.1% year-over-year. Diluted Shares accounts for stock options, warrants, and convertibles. Positive YoY change means dilution (red); negative means buybacks (green). Consistent dilution above 5% annually is a red flag.

Data from audited consolidated filings. For educational purposes only — not investment advice. Last update: FY 2021