Intermediate Capital Group (LON:ICG) Issues Quarterly Earnings Results

Intermediate Capital Group (LON:ICG) posted its earnings results on Wednesday. The company reported GBX 82.30 earnings per share (EPS) for the quarter, Digital Look Earnings reports. The company had revenue of £532.10 million for the quarter. Intermediate Capital Group had a return on equity of 18.00% and a net margin of 49.28%.

Here are the key takeaways from Intermediate Capital Group’s conference call:

• For the six months to September 2026, management fees rose 12% to £374 million and FRE increased 18% to £199 million, with the FRE margin reaching 47%. Over the last 12 months, FRE was £380 million, up 18% year-on-year.
• Fundraising remained strong: Europe IX closed at €12 billion, significantly oversubscribed, and ICG said seven funds raised over the past two years closed at or above target. The firm said it is capping funds and carefully selecting investments to protect deployment discipline and performance.
• Operating cash flow was £613 million over the last 12 months, while net financial debt fell to £93 million and available liquidity stood at nearly £1.5 billion. ICG set a medium-term target of zero net debt and said excess capital may be returned to shareholders, including through a buyback if other uses do not offer better returns.
• Management expects muted buyout activity to persist, citing high valuations, elevated interest rates and uncertainty that continue to hinder deal-making. It said deployment is being handled cautiously; although structured capital had deals in exclusivity, the timing and pace of investment remain uncertain.
• Performance fee income was £24 million for the half, and executives said near-term performance fees are difficult to predict amid a challenging exit environment. They described recent exit activity as strong but noted that performance fees can be lumpy and depend on realizations and fund valuations.

Intermediate Capital Group Price Performance

LON ICG traded up GBX 1 during trading on Wednesday, hitting GBX 1,954. The company’s stock had a trading volume of 896,174 shares, compared to its average volume of 7,452,742. The company has a market cap of £5.68 billion, a PE ratio of 11.92 and a beta of 1.45. The business’s 50 day simple moving average is GBX 1,852.23 and its 200-day simple moving average is GBX 1,800.76. Intermediate Capital Group has a fifty-two week low of GBX 1,424.88 and a fifty-two week high of GBX 2,148.

Analyst Ratings Changes

ICG has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their price target on shares of Intermediate Capital Group from GBX 2,800 to GBX 2,700 and set a “buy” rating on the stock in a report on Monday, October 12th. Berenberg Bank reiterated a “buy” rating and set a GBX 2,640 price objective on shares of Intermediate Capital Group in a research note on Friday, September 25th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Intermediate Capital Group currently has a consensus rating of “Moderate Buy” and an average price target of GBX 2,505.

Intermediate Capital Group Company Profile

ICG (LSE: ICG) is a global alternative asset manager with $126bn* in AUM and more than three decades of experience generating attractive returns. We operate from over 20 locations globally and invest our clients’ capital across Structured Capital; Private Equity Secondaries; Private Debt; Credit; and Real Assets. Our exceptional people originate differentiated opportunities, invest responsibly, and deliver long-term value. We partner with management teams, founders, and business owners in a creative and solutions-focused approach, supporting them with our expertise and flexible capital.