Industrial and Commercial Bank of China Ltd (601398) - Net Assets
Based on the latest financial reports, Industrial and Commercial Bank of China Ltd (601398) has net assets worth CN¥3.96 Trillion CNY as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥52.81 Trillion) and total liabilities (CN¥48.85 Trillion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥3.96 Trillion |
| % of Total Assets | 7.51% |
| Annual Growth Rate | 15.06% |
| 5-Year Change | 37.04% |
| 10-Year Change | 121.45% |
| Growth Volatility | 90.78 |
Industrial and Commercial Bank of China Ltd - Net Assets Trend (2002–2024)
This chart illustrates how Industrial and Commercial Bank of China Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Industrial and Commercial Bank of China Ltd (2002–2024)
The table below shows the annual net assets of Industrial and Commercial Bank of China Ltd from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥3.99 Trillion | +5.58% |
| 2023-12-31 | CN¥3.78 Trillion | +7.43% |
| 2022-12-31 | CN¥3.52 Trillion | +7.33% |
| 2021-12-31 | CN¥3.28 Trillion | +12.57% |
| 2020-12-31 | CN¥2.91 Trillion | +8.08% |
| 2019-12-31 | CN¥2.69 Trillion | +14.80% |
| 2018-12-31 | CN¥2.34 Trillion | +9.52% |
| 2017-12-31 | CN¥2.14 Trillion | +8.07% |
| 2016-12-31 | CN¥1.98 Trillion | +10.03% |
| 2015-12-31 | CN¥1.80 Trillion | +17.12% |
| 2014-12-31 | CN¥1.54 Trillion | +20.25% |
| 2013-12-31 | CN¥1.28 Trillion | +13.29% |
| 2012-12-31 | CN¥1.13 Trillion | +17.81% |
| 2011-12-31 | CN¥957.82 Billion | +16.57% |
| 2010-12-31 | CN¥821.66 Billion | +21.02% |
| 2009-12-31 | CN¥678.93 Billion | +11.83% |
| 2008-12-31 | CN¥607.14 Billion | +11.55% |
| 2007-12-31 | CN¥544.25 Billion | +15.36% |
| 2006-12-31 | CN¥471.80 Billion | +80.78% |
| 2005-12-31 | CN¥260.98 Billion | +151.73% |
| 2004-12-31 | CN¥-504.50 Billion | +5.79% |
| 2003-12-31 | CN¥-535.48 Billion | -394.21% |
| 2002-12-31 | CN¥182.01 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Industrial and Commercial Bank of China Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 140942.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥2.01 Trillion | 50.73% |
| Common Stock | CN¥356.41 Billion | 8.98% |
| Other Components | CN¥1.60 Trillion | 40.29% |
| Total Equity | CN¥3.97 Trillion | 100.00% |
Industrial and Commercial Bank of China Ltd Competitors by Market Cap
The table below lists competitors of Industrial and Commercial Bank of China Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Merck & Company Inc
NYSE:MRK
|
$295.53 Billion |
|
Cisco Systems Inc
NASDAQ:CSCO
|
$309.49 Billion |
|
The Coca-Cola Company
NYSE:KO
|
$312.49 Billion |
|
Applied Materials Inc
NASDAQ:AMAT
|
$315.02 Billion |
|
LVMH Moët Hennessy - Louis Vuitton Société Européenne
PA:MC
|
$289.95 Billion |
|
Lam Research Corp
NASDAQ:LRCX
|
$287.98 Billion |
|
Contemporary Amperex Technology Co Ltd Class A
SHE:300750
|
$286.52 Billion |
|
The Goldman Sachs Group, Inc.
LSE:0R3G
|
$282.87 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Industrial and Commercial Bank of China Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,756,887,000,000 to 3,969,841,000,000, a change of 212,954,000,000 (5.7%).
- Net income of 365,863,000,000 contributed positively to equity growth.
- Dividend payments of 177,255,000,000 reduced retained earnings.
- Share repurchases of 80,000,000,000 reduced equity.
- Other factors increased equity by 104,346,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥365.86 Billion | +9.22% |
| Dividends Paid | CN¥177.25 Billion | -4.47% |
| Share Repurchases | CN¥80.00 Billion | -2.02% |
| Other Changes | CN¥104.35 Billion | +2.63% |
| Total Change | CN¥- | 5.67% |
Book Value vs Market Value Analysis
This analysis compares Industrial and Commercial Bank of China Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.70x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 15.17x to 0.70x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2002-12-31 | CN¥0.49 | CN¥7.44 | x |
| 2003-12-31 | CN¥-1.48 | CN¥7.44 | x |
| 2004-12-31 | CN¥-1.40 | CN¥7.44 | x |
| 2005-12-31 | CN¥0.71 | CN¥7.44 | x |
| 2006-12-31 | CN¥1.29 | CN¥7.44 | x |
| 2007-12-31 | CN¥1.48 | CN¥7.44 | x |
| 2008-12-31 | CN¥1.66 | CN¥7.44 | x |
| 2009-12-31 | CN¥1.85 | CN¥7.44 | x |
| 2010-12-31 | CN¥2.26 | CN¥7.44 | x |
| 2011-12-31 | CN¥2.63 | CN¥7.44 | x |
| 2012-12-31 | CN¥3.10 | CN¥7.44 | x |
| 2013-12-31 | CN¥3.51 | CN¥7.44 | x |
| 2014-12-31 | CN¥4.21 | CN¥7.44 | x |
| 2015-12-31 | CN¥4.93 | CN¥7.44 | x |
| 2016-12-31 | CN¥5.42 | CN¥7.44 | x |
| 2017-12-31 | CN¥5.86 | CN¥7.44 | x |
| 2018-12-31 | CN¥6.41 | CN¥7.44 | x |
| 2019-12-31 | CN¥7.37 | CN¥7.44 | x |
| 2020-12-31 | CN¥7.96 | CN¥7.44 | x |
| 2021-12-31 | CN¥8.97 | CN¥7.44 | x |
| 2022-12-31 | CN¥9.62 | CN¥7.44 | x |
| 2023-12-31 | CN¥10.34 | CN¥7.44 | x |
| 2024-12-31 | CN¥10.63 | CN¥7.44 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Industrial and Commercial Bank of China Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.22%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 55.40%
- • Asset Turnover: 0.01x
- • Equity Multiplier: 12.30x
- Recent ROE (9.22%) is below the historical average (13.10%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 3.66% | 7.13% | 0.02x | 26.80x | CN¥-11.29 Billion |
| 2003 | 0.00% | 11.66% | 0.04x | 0.00x | CN¥76.08 Billion |
| 2004 | 0.00% | 14.57% | 0.04x | 0.00x | CN¥81.58 Billion |
| 2005 | 14.56% | 14.91% | 0.04x | 25.13x | CN¥11.71 Billion |
| 2006 | 10.43% | 27.23% | 0.02x | 16.08x | CN¥2.03 Billion |
| 2007 | 15.08% | 31.97% | 0.03x | 16.11x | CN¥27.36 Billion |
| 2008 | 18.36% | 35.99% | 0.03x | 16.18x | CN¥50.45 Billion |
| 2009 | 19.08% | 41.83% | 0.03x | 17.49x | CN¥61.21 Billion |
| 2010 | 20.13% | 43.61% | 0.03x | 16.40x | CN¥83.11 Billion |
| 2011 | 21.77% | 44.05% | 0.03x | 16.18x | CN¥112.59 Billion |
| 2012 | 21.20% | 48.04% | 0.03x | 15.59x | CN¥126.03 Billion |
| 2013 | 20.61% | 48.55% | 0.03x | 14.85x | CN¥135.24 Billion |
| 2014 | 18.02% | 47.68% | 0.03x | 13.46x | CN¥122.73 Billion |
| 2015 | 15.49% | 47.60% | 0.03x | 12.41x | CN¥98.18 Billion |
| 2016 | 14.13% | 50.14% | 0.02x | 12.25x | CN¥81.27 Billion |
| 2017 | 13.45% | 47.62% | 0.02x | 12.26x | CN¥73.30 Billion |
| 2018 | 12.78% | 48.38% | 0.02x | 11.89x | CN¥64.68 Billion |
| 2019 | 11.67% | 51.99% | 0.02x | 11.25x | CN¥44.61 Billion |
| 2020 | 10.92% | 52.54% | 0.02x | 11.52x | CN¥26.56 Billion |
| 2021 | 10.69% | 52.92% | 0.02x | 10.80x | CN¥22.56 Billion |
| 2022 | 10.33% | 54.46% | 0.02x | 11.33x | CN¥11.61 Billion |
| 2023 | 9.69% | 55.35% | 0.01x | 11.90x | CN¥-11.70 Billion |
| 2024 | 9.22% | 55.40% | 0.01x | 12.30x | CN¥-31.12 Billion |
Industry Comparison
This section compares Industrial and Commercial Bank of China Ltd's net assets metrics with peer companies in the Banks - Diversified industry.
Industry Context
- Industry: Banks - Diversified
- Average net assets among peers: $2,210,746,000,000
- Average return on equity (ROE) among peers: 9.77%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Industrial and Commercial Bank of China Ltd (601398) | CN¥3.96 Trillion | 3.66% | 12.32x | $293.53 Billion |
| Agricultural Bank of China Ltd Class A (601288) | $2.21 Trillion | 9.77% | 11.31x | $329.81 Billion |
About Industrial and Commercial Bank of China Ltd
Industrial and Commercial Bank of China Limited, together with its subsidiaries, provides banking products and services in the People's Republic of China and internationally. It operates through Corporate Banking, Personal Banking, and Treasury Operations segments. The Corporate Banking segment offers financial products and services, such as deposit-taking activities, trade financing, corporate w… Read more