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Intchains Group Limited (ICG) 10-Year Financial Performance & Capital Metrics

ICG • • Industrial / General
TechnologySemiconductorsDigital & Computing SemiconductorsProcessors & Microcontrollers
AboutIntchains Group Limited designs and sells application-specific integrated circuit chips and ancillary software and hardware for blockchain applications in the People's Republic of China. It serves distributors, companies, and individuals. Intchains Group Limited was founded in 2017 and is based in Pudong, China.Show more
  • Revenue $282M +242.7%
  • EBITDA $8M +113.3%
  • Net Income $51M +292.2%
  • EPS (Diluted) 1.72 +490.9%
  • Gross Margin 53.7% +386.4%
  • EBITDA Margin 2.89% +103.9%
  • Operating Margin 1.12% +101.4%
  • Net Margin 18.28% +156.1%
  • ROE 5.25% +284.4%
  • ROIC 0.45% +102.7%
  • Debt/Equity 0.00 -86.3%
  • Interest Coverage 56.36 +105.4%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Strong 5Y sales CAGR of 51.1%
  • ✓Good 3Y average ROE of 16.5%
  • ✓Share count reduced 49.7% through buybacks
  • ✓Healthy 5Y average net margin of 29.4%
  • ✓Trading at only 0.1x book value

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y51.06%
3Y-23.6%
TTM63.56%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-51.46%
TTM-17.72%

EPS CAGR

10Y-
5Y-
3Y-54.15%
TTM44.54%

ROCE

10Y Avg33.13%
5Y Avg42.19%
3Y Avg12.02%
Latest0.32%

Peer Comparison

Processors & Microcontrollers
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
AMDAdvanced Micro Devices, Inc.359.75B220.97220.9713.69%10.32%5.44%0.67%0.04
LSCCLattice Semiconductor Corporation11.8B86.30196.14-30.9%5.5%3.86%1.02%0.02
NVDANVIDIA Corporation4.52T185.8163.20114.2%53.01%83.43%1.35%0.13
ICGIntchains Group Limited57.43M2.001.16242.68%6.51%1.97%0.00
PXLWPixelworks, Inc.40.91M6.50-1.11-27.6%-73.56%-90.71%0.09
NANano Labs Ltd69.28M3.42-2.05-48.18%-261.01%-10.18%0.85
WKEYWISeKey International Holding AG71.31M8.86-3.34-61.59%-108.66%-28.31%0.10
LAESSEALSQ Corp764.6M4.31-6.34-63.47%-141.28%-42.3%0.11

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+35.82M54.6M631.84M473.74M82.22M281.77M
Revenue Growth %-0.52%10.57%-0.25%-0.83%2.43%
Cost of Goods Sold+29.58M23.33M113.95M87.02M73.15M130.45M
COGS % of Revenue0.83%0.43%0.18%0.18%0.89%0.46%
Gross Profit+6.24M31.27M517.88M386.72M9.08M151.31M
Gross Margin %0.17%0.57%0.82%0.82%0.11%0.54%
Gross Profit Growth %-4.02%15.56%-0.25%-0.98%15.67%
Operating Expenses+8.78M23.24M70.56M64.01M74.05M148.37M
OpEx % of Revenue0.25%0.43%0.11%0.14%0.9%0.53%
Selling, General & Admin5.04M3.26M17.41M15.63M31.74M38.72M
SG&A % of Revenue0.14%0.06%0.03%0.03%0.39%0.14%
Research & Development9.06M22.48M53.15M48.39M42.3M109.44M
R&D % of Revenue0.25%0.41%0.08%0.1%0.51%0.39%
Other Operating Expenses-5.32M-2.5M000210K
Operating Income+-2.54M8.03M447.32M322.7M-64.97M3.16M
Operating Margin %-0.07%0.15%0.71%0.68%-0.79%0.01%
Operating Income Growth %-4.16%54.71%-0.28%-1.2%1.05%
EBITDA+-2.1M8.72M447.87M324.51M-61.14M8.14M
EBITDA Margin %-0.06%0.16%0.71%0.69%-0.74%0.03%
EBITDA Growth %-5.15%50.38%-0.28%-1.19%1.13%
D&A (Non-Cash Add-back)440K687K553K1.81M3.83M4.98M
EBIT-2.58M8.41M450.34M322.7M-35.49M50.23M
Net Interest Income+-116K-131K2.32M11.06M16.69M16.18M
Interest Income16K37K2.52M11.13M16.75M16.23M
Interest Expense132K168K197K73K62K56K
Other Income/Expense-171K217K2.82M44.35M29.42M47.02M
Pretax Income+-2.71M8.25M450.14M367.06M-35.55M50.18M
Pretax Margin %-0.08%0.15%0.71%0.77%-0.43%0.18%
Income Tax+238K0011.86M-8.76M-1.32M
Effective Tax Rate %1.09%1%1%0.97%0.75%1.03%
Net Income+-2.95M8.25M450.14M355.2M-26.8M51.5M
Net Margin %-0.08%0.15%0.71%0.75%-0.33%0.18%
Net Income Growth %-3.8%53.58%-0.21%-1.08%2.92%
Net Income (Continuing)-2.95M8.25M450.14M355.2M-26.8M51.5M
Discontinued Operations000000
Minority Interest000000
EPS (Diluted)+-0.050.1417.845.70-0.441.72
EPS Growth %-3.83%126.43%-0.68%-1.08%4.91%
EPS (Basic)-0.050.1417.845.70-0.441.72
Diluted Shares Outstanding59.82M59.82M59.82M62.4M59.69M30M
Basic Shares Outstanding59.82M58.82M59.82M59.82M59.69M29.98M
Dividend Payout Ratio--0.02%---

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+38.13M43.25M607.36M831.98M777.52M720.9M
Cash & Short-Term Investments4.04M19.63M502.42M712.23M688.35M520.81M
Cash Only4.04M19.63M502.42M712.23M585.17M322.25M
Short-Term Investments0000103.17M198.56M
Accounts Receivable6M8.32M03.46M13.83M28.36M
Days Sales Outstanding61.0955.63-2.6761.4136.73
Inventory22.42M9.48M66.82M77.78M41.77M98.61M
Days Inventory Outstanding276.67148.32214.02326.25208.42275.92
Other Current Assets5.67M32K38.12M38.51M214K32.01M
Total Non-Current Assets+1.08M645K3.9M121.15M201.73M368.61M
Property, Plant & Equipment1.08M645K3.9M121.15M163.78M157.34M
Fixed Asset Turnover33.13x84.66x162.09x3.91x0.50x1.79x
Goodwill000000
Intangible Assets00004.07M3.55M
Long-Term Investments000020M20.57M
Other Non-Current Assets0000990K187.15M
Total Assets+39.21M43.9M611.26M953.13M979.25M1.09B
Asset Turnover0.91x1.24x1.03x0.50x0.08x0.26x
Asset Growth %-0.12%12.92%0.56%0.03%0.11%
Total Current Liabilities+18.4M9.66M31.6M19.2M28.16M76.44M
Accounts Payable180K621K6.58M2.9M195K14.85M
Days Payables Outstanding2.229.7221.0912.180.9741.54
Short-Term Debt10.98M00000
Deferred Revenue (Current)0006K1000K0
Other Current Liabilities6.22M2.63M11.76M11.35M3.27M39.63M
Current Ratio2.07x4.48x19.22x43.34x27.61x9.43x
Quick Ratio0.85x3.50x17.11x39.29x26.12x8.14x
Cash Conversion Cycle335.54194.24-316.74268.85271.11
Total Non-Current Liabilities+466K46K1.27M336K761K0
Long-Term Debt000000
Capital Lease Obligations239K01.27M294K761K0
Deferred Tax Liabilities00042K00
Other Non-Current Liabilities227K46K042K00
Total Liabilities18.86M9.71M32.86M19.53M28.93M76.44M
Total Debt+11.55M239K2.2M1.27M1.86M272K
Net Debt7.51M-19.39M-500.22M-710.97M-583.31M-321.98M
Debt / Equity0.57x0.01x0.00x0.00x0.00x0.00x
Debt / EBITDA-0.03x0.00x0.00x-0.03x
Net Debt / EBITDA--2.22x-1.12x-2.19x--39.56x
Interest Coverage-19.25x47.80x2270.66x4420.62x-1047.87x56.36x
Total Equity+20.35M34.19M578.4M933.6M950.33M1.01B
Equity Growth %-0.68%15.92%0.61%0.02%0.07%
Book Value per Share0.340.579.6714.9615.9233.77
Total Shareholders' Equity20.35M34.19M578.4M933.6M950.33M1.01B
Common Stock1K1K1K1K1K1K
Retained Earnings-24.57M-16.32M390.14M741.54M713.96M814.05M
Treasury Stock000000
Accumulated OCI-1K043.67M47.48M50.1M3.78M
Minority Interest000000

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-5.99M15.59M395.42M326.69M-4.71M-138.25M
Operating CF Margin %-0.17%0.29%0.63%0.69%-0.06%-0.49%
Operating CF Growth %-3.6%24.37%-0.17%-1.01%-28.37%
Net Income-2.95M8.25M450.14M355.2M-26.8M51.5M
Depreciation & Amortization440K687K1.35M2.75M3.83M4.98M
Stock-Based Compensation923K0003.47M8.97M
Deferred Taxes238K0042K-12.94M-16.04M
Other Non-Cash Items132K168K113K1.38M25.41M-102.22M
Working Capital Changes-4.77M6.48M-56.19M-32.69M2.31M-85.44M
Change in Receivables-5M-1.53M6.53M-13.43M00
Change in Inventory15.69M12.94M-57.34M-12.34M11.44M-97.51M
Change in Payables-452K441K5.96M-3.68M-2.71M14.65M
Cash from Investing+-165K-251K-1.77M-116.87M-64.99M-125.94M
Capital Expenditures-165K-251K-1.77M-4.02M-48.15M-10.08M
CapEx % of Revenue0%0%0%0.01%0.59%0.04%
Acquisitions------
Investments------
Other Investing000-112.86M-3.42M-22.35M
Cash from Financing+3.39M251K89.14M051.22M0
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid00-10.54M000
Share Repurchases------
Other Financing-612K4.25M-916K0-10.09M0
Net Change in Cash------
Free Cash Flow+-6.15M15.34M393.65M322.67M-56.28M-148.33M
FCF Margin %-0.17%0.28%0.62%0.68%-0.68%-0.53%
FCF Growth %-3.49%24.67%-0.18%-1.17%-1.64%
FCF per Share-0.100.266.585.17-0.94-4.94
FCF Conversion (FCF/Net Income)2.03x1.89x0.88x0.92x0.18x-2.68x
Interest Paid000000
Taxes Paid0009.57M4.79M15.42M

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)-14.5%30.24%146.96%46.98%-2.84%5.25%
Return on Invested Capital (ROIC)-6.84%28.23%721.63%160.92%-16.53%0.45%
Gross Margin17.41%57.27%81.96%81.63%11.04%53.7%
Net Margin-8.24%15.1%71.24%74.98%-32.59%18.28%
Debt / Equity0.57x0.01x0.00x0.00x0.00x0.00x
Interest Coverage-19.25x47.80x2270.66x4420.62x-1047.87x56.36x
FCF Conversion2.03x1.89x0.88x0.92x0.18x-2.68x
Revenue Growth-52.45%1057.15%-25.02%-82.64%242.68%

Revenue by Segment

20232024
Product-281.37M
Product Growth--
Other Revenue13.87M400K
Other Revenue Growth--97.12%

Revenue by Geography

20232024
CHINA-128.25M
CHINA Growth--
HONG KONG-107.87M
HONG KONG Growth--
Other countries-45.65M
Other countries Growth--

Frequently Asked Questions

Valuation & Price

Intchains Group Limited (ICG) has a price-to-earnings (P/E) ratio of 1.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Intchains Group Limited (ICG) reported $310.1M in revenue for fiscal year 2024. This represents a 766% increase from $35.8M in 2019.

Intchains Group Limited (ICG) grew revenue by 242.7% over the past year. This is strong growth.

Yes, Intchains Group Limited (ICG) is profitable, generating $20.2M in net income for fiscal year 2024 (18.3% net margin).

Dividend & Returns

Intchains Group Limited (ICG) has a return on equity (ROE) of 5.2%. This is below average, suggesting room for improvement.

Intchains Group Limited (ICG) had negative free cash flow of $27.8M in fiscal year 2024, likely due to heavy capital investments.

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