ICLICL Group Ltd
Is the business good?
The checks split: nothing decisive, though earnings fully cash-backed (2.9×).
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Operating profit is falling even as sales grow, costs are outrunning the top line.
A balanced mix of margins, efficiency, and leverage. ROE 4% = margin × turnover × leverage.
Unless marked, from derived.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is ICL?
ICL Group Ltd earns 5.2% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 3.8 points below what the capital costs: growth destroys value
- Operating margin
- 8.1%
Operating margin · Agricultural Inputs median 9.6% · fiscal year to FY2025
- Cash conversion
- 2.87×
Cash conversion · 2.60× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- +0.11%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 4.0% |
| FY2021 | 17% |
| FY2022 | 35% |
| FY2023 | 15% |
| FY2024 | 11% |
| FY2025 | 8.1% |
Details›
- Gross marginfiscal year to FY2025
- 31%
- Operating marginfiscal year to FY2025
- 8.1%
- Net marginfiscal year to FY2025
- 3.2%
- R&D as % of revenue
- 0.98%
- Revenue, trailing twelve months
- $7.15B
- Net income, trailing twelve months
- $226M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 5.2%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.