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ICICI Prudential Asset Management Company Limited (ICICIAMC) Fair Value & Analysis

Financial Services · IN · Market cap ₹1.5T (≈ $16.3B) · ISIN INE346A01027

What is ICICI Prudential Asset Management Company Limited really worth?

IP ICICI Prudential Asset Management Company Limited ICICIAMC · NSE
Price₹2,971
Fair Value₹867.51
Upside−70.8%
Quality80/100

A strong business, but trading 242% above our fair value of ₹867.51.

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Strengths

Healthy Growth (revenue 3y +28.9 %/yr)
Highly profitable · 55.5% net margin
generates free cash flow
Wide moat 95/100

Risks

!Mixed vs. peers (7/13)
!The models disagree: range ₹650.63 to ₹2,797
!Weak on dividend: 8 out of 100
Evidence: High Range ₹650.63 – ₹2,797

Fair value as of: Sep 5, 2026

From 11 valuation models · updated today

Share price −3.6% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A high-quality business (quality 80/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (₹2,797). The favourable scenario is already priced in.
  • The model range is unusually wide (₹650.63 to ₹2,797). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (9 months)

₹3,525 ₹2,562 Fair Value ₹867.51 Dec 2025 Sep 2026

White line = price, green steps = our fair value per fiscal year. As of Sep 5, 2026.

How to read this chart

9‑month range ₹2,562 – ₹3,525 · fair‑value band ₹650.63 – ₹2,797 · the ₹2,971 price screens above the ₹867.51 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Sep 5, 2026.

Full chart & analysis →

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Analysis

ICICI Prudential Asset Management Company Limited (ICICIAMC) currently trades at ₹2,971, while our model-based Fair Value estimate is ₹867.51, implying the stock looks roughly 242.5% overvalued today. The Quality Score stands at 80/100 (high quality), in the Financial Services sector. Bull case: the DCF Models group reads highest at a median of ₹1,910 per share, and 1 of the 11 models we run sit above the ₹2,971 price. Bear case: the Multiples group reads lowest at ₹118.15, and 10 of the 11 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, ICICI Prudential Asset Management Company Limited generated revenue of ₹60.0B at a net margin of 55.0%. Revenue grew 8.2% year over year. It earns a return on equity of 85.8%. The stock trades on a trailing P/E of 42.1. Fundamentals as of Sep 5, 2026

Our scenario range runs from ₹650.63 (bear case) to ₹2,797 (bull case); at ₹2,971, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 18% below its 52-week high and 18% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −71%, ICICIAMC screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹23.31 per share, which is 2.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF best evidence ₹1,081 ₹2,089 ₹4,213 68
Rev-Margin DCF ₹444.80 ₹719.45 ₹1,194 65
Owner Earnings ₹1,110 ₹2,597 ₹5,858 64
All 11 models by family
DCF Models
Owner Earnings ₹1,110 ₹2,597 ₹5,858 64
5Y P/E Exit ₹804.48 ₹1,704 ₹2,915 62
10Y P/E Exit ₹917.41 ₹1,910 ₹3,507 56
Earnings-Based
Graham-Dodd ₹453.77 ₹3,165 ₹4,441 60
Lynch FV ₹1,251 ₹1,787 ₹2,323 58
Multiples
P/E Multiple ₹650.63 ₹867.51 ₹1,084 63
P/B Multiple ₹88.61 ₹118.15 ₹147.69 55
Asset-Based
NCAV (Graham) ₹42.20 ₹56.54 ₹84.39 51
Growth DCF
Growth DCF best evidence ₹1,081 ₹2,089 ₹4,213 68
Rev-Margin DCF ₹444.80 ₹719.45 ₹1,194 65
Economic Profit
Residual Income ₹546.75 ₹966.04 ₹27,351 61

Widest divergence: DCF Models (₹1,910) versus Asset-Based (₹56.54). Highest evidence: Growth DCF (68).

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Key figures & financial health

P/E ratio 42.1
P/S ratio 24.1 P/E × margin
EPS (TTM) ₹70.50 price ÷ EPS = P/E 42.1
Dividend yield 0.4% payout 17.6%
Net margin 57.2% FY2026
Return on equity 85.8% TTM
More key figures
Profitability
Return on assets (EBIT) 72.4% avg 4y
Operating margin 73.7% TTM
Growth
Revenue (TTM) ₹62.7B TTM
Revenue growth (YoY) +18.1% 3y avg +28.9%
EPS growth (YoY) +23.1%
Balance sheet & cash flow
Free cash flow ₹31.7B FY2026

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 80/100

Of which business quality 79 · Market factors (momentum, volatility) 47

Profitability 97
Margins and returns on capital today
Quality Growth 86
Are margins and returns improving?
Cashflow 83
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 59
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 47
Distance to the 52-week high (market factor)

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

ICICI Prudential Asset Management Company Limited, an asset management company, provides a range of investment solutions. The company manages mutual and alternative funds; and offers portfolio management and advisory services to offshore clients.

Full company description

ICICI Prudential Asset Management Company Limited, an asset management company, provides a range of investment solutions. The company manages mutual and alternative funds; and offers portfolio management and advisory services to offshore clients. It provides savings and investment products across various financial asset classes structured to a range of its clients' objectives and risk appetites. The company serves individual investors and institutional investors comprising banks, insurance companies, corporates, and government entities. ICICI Prudential Asset Management Company Limited was incorporated in 1993 and is based in Mumbai, India. ICICI Prudential Asset Management Company Limited operates as a subsidiary of ICICI Bank Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2023 – FY2026 · reported fiscal years

ICICI Prudential Asset Management Company Limited reported revenue of ₹57.6B in FY2026 versus ₹26.9B in FY2023, a compound +28.9%/yr. Reported net income was ₹33.0B in FY2026, compounding +29.6%/yr from FY2023.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹57.6B
Latest YoY
+23.1%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+28.9%
Value creation/yr We only publish this rate when it is defensible. Reason: only 1 usable fiscal years, at least 4 required
not computed
Revenue +28.9%/yr
FY23 ₹26.9B
FY24 ₹33.8B
FY25 ₹46.8B
FY26 ₹57.6B
Net income +29.6%/yr
FY23 ₹15.2B
FY24 ₹20.5B
FY25 ₹26.5B
FY26 ₹33.0B

ICICIAMC screens 242% overvalued. Compare with Blackstone Inc →

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Cite: Fair Value Calculator (2026). "ICICI Prudential Asset Management Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/ICICIAMC

Peer Group

Asset Management · 697 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 79 · Top 25%
Fair Value upside −71% · Bottom 25%
Return on equity (TTM) 86% · Top 25%
Return on assets 59% · Top 25%
Net margin (TTM) 56% · Top 25%
Operating margin (TTM) 74% · Above median
Revenue growth 18% · Above median
Dividend yield (TTM) 0.4% · Bottom 25%

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 42.1× · Pricier than 75% of peers
P/B 36.85× · Pricier than 75% of peers
P/S (TTM) 24.52× · Pricier than 75% of peers
P/FCF 0.5× · Cheaper than 75% of peers
EV/EBITDA 32.8× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 40
FUTURE91 · sector 14
PAST100 · sector 24
HEALTH0 · sector 95
DIVIDEND8 · sector 81

VALUE 0: the price sits above our fair-value range.

Insider activity: 30/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $142.39 $52.88 −63%
Investor AB INVEB kr 417.20 kr 824.66 +98%
Brookfield Corporation BN C$55.74 C$10.67 −81%
KKR & Co KKR $108.68 $19.97 −82%
Apollo Global Management, Inc APO $135.04 $101.04 −25%
State Street Corporation STT $193.33 $138.33 −28%
Ameriprise Financial, Inc AMP $559.32 $515.24 −8%
Ares Management Corporation ARES $143.10 $30.88 −78%
Northern Trust Corporation NTRS $186.79 $122.02 −35%
Raymond James Financial, Inc RJF $181.10 $142.42 −21%

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Frequently asked questions

Is ICICI Prudential Asset Management Company Limited (ICICIAMC) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of ₹867.51 versus a price of ₹2,971, about −71% upside (overvalued).
What is the fair value of ICICIAMC?
Our model-based fair value for ICICI Prudential Asset Management Company Limited is ₹867.51 (as of Sep 5, 2026), built from audited fundamentals. The current price: ₹2,971.
What is the quality score of ICICIAMC?
ICICI Prudential Asset Management Company Limited has a Quality Score of 80/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of ICICI Prudential Asset Management Company Limited (ICICIAMC)?
ICICI Prudential Asset Management Company Limited reported trailing-twelve-month revenue of about ₹60.0B (latest available figure, as of Sep 5, 2026).
What is the net profit margin of ICICIAMC?
The net profit margin of ICICI Prudential Asset Management Company Limited is about 55.0%, meaning it keeps roughly 55.0% of revenue as net income. Based on the latest reported figures.
Does ICICI Prudential Asset Management Company Limited pay a dividend?
ICICI Prudential Asset Management Company Limited currently shows a dividend yield of about 0.42% relative to its recent price (as of Sep 5, 2026).
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