Latest Ratios: P/E Ratio 11.7x · EV/EBITDA 8.0x · ROE 15.6%. (2006–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.2B | $4.7B | $3.4B | $2.5B | $2.7B | $3.0B | $3.7B | $4.7B | — | — | — |
| Enterprise Value | $6.4B | $5.5B | $3.0B | $3.8B | $183M | $-3869690780 | $-4614133550 | $4.0B | — | — | — |
| P/E Ratio → | 11.69 | 2.60 | 2.58 | 2.35 | 1.63 | 1.70 | 9.74 | 3.23 | — | — | — |
| P/S Ratio | 2.29 | 0.51 | 0.38 | 0.29 | 0.37 | 0.48 | 0.61 | 0.74 | — | — | — |
| P/B Ratio | 1.71 | 0.38 | 0.31 | 0.25 | 0.29 | 0.35 | 0.42 | 0.52 | — | — | — |
| P/FCF | 16.20 | 3.62 | — | 1.03 | — | 2.80 | 0.29 | 3.19 | — | — | — |
| P/OCF | 11.57 | 2.59 | — | 0.88 | — | 2.26 | 0.29 | 2.79 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.60 | 0.34 | 0.43 | 0.02 | -0.61 | -0.76 | 0.64 | — | — | — |
| EV / EBITDA | 7.97 | 2.00 | 1.44 | 2.20 | 0.07 | -1.45 | -7.38 | 1.85 | — | — | — |
| EV / EBIT | 9.42 | 2.38 | 1.81 | 2.82 | 0.08 | -1.62 | -12.95 | 2.10 | — | — | — |
| EV / FCF | — | 4.23 | — | 1.55 | — | -3.56 | -0.36 | 2.77 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 65.3% | 65.3% | 54.2% | 49.3% | 68.1% | 78.2% | 42.0% | 66.2% | 67.7% | 62.3% | 62.3% |
| Operating Margin | 25.2% | 25.2% | 18.6% | 15.3% | 29.2% | 38.0% | 5.8% | 30.5% | 27.7% | 26.4% | 26.0% |
| Net Profit Margin | 19.7% | 19.7% | 14.7% | 12.2% | 22.5% | 28.4% | 6.3% | 22.9% | 19.5% | 20.2% | 19.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.6% | 15.6% | 12.4% | 11.0% | 18.4% | 20.2% | 4.3% | 18.0% | 16.8% | 19.0% | 20.0% |
| ROA | 1.9% | 1.9% | 1.4% | 1.2% | 1.9% | 2.0% | 0.5% | 2.1% | 1.7% | 1.8% | 1.9% |
| ROIC | 7.3% | 7.3% | 5.7% | 5.0% | 8.4% | 9.5% | 1.4% | 8.5% | 7.9% | 8.0% | 7.9% |
| ROCE | 3.5% | 3.5% | 4.2% | 3.5% | 6.4% | 6.7% | 0.9% | 6.0% | 5.3% | 6.5% | 7.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.03 | 1.03 | 1.08 | 1.09 | 1.11 | 1.17 | 1.10 | 1.05 | 1.21 | 1.32 | 1.34 |
| Debt / EBITDA | 4.64 | 4.64 | 5.74 | 6.30 | 4.19 | 3.83 | 15.70 | 4.26 | 5.02 | 5.18 | 4.81 |
| Net Debt / Equity | — | 0.06 | -0.03 | 0.13 | -0.27 | -0.79 | -0.93 | -0.07 | 0.14 | -0.33 | -1.01 |
| Net Debt / EBITDA | 0.29 | 0.29 | -0.18 | 0.74 | -1.01 | -2.59 | -13.36 | -0.28 | 0.58 | -1.29 | -3.63 |
| Debt / FCF | — | 0.61 | — | 0.52 | — | -6.36 | -0.66 | -0.42 | — | -0.61 | -4.27 |
| Interest Coverage | 1.09 | 1.09 | 0.71 | 0.54 | 1.37 | 2.42 | 0.32 | 1.41 | 1.36 | 1.24 | 1.21 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.07 | 2.07 | 0.06 | 0.73 | 0.70 | 0.66 | 0.87 | 0.75 | 0.75 | 0.92 | 0.59 |
| Quick Ratio | 2.07 | 2.07 | 0.06 | 0.73 | 0.70 | 0.66 | 0.87 | 0.75 | 0.75 | 0.92 | 0.59 |
| Cash Ratio | 1.89 | 1.89 | 0.22 | 0.19 | 0.26 | 0.29 | 0.39 | 0.26 | 0.23 | 0.29 | 0.31 |
| Asset Turnover | — | 0.09 | 0.09 | 0.10 | 0.08 | 0.07 | 0.07 | 0.09 | 0.09 | 0.08 | 0.09 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.9% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 22.3% | 22.3% | 32.9% | 47.7% | 45.1% | 35.4% | 182.2% | 45.4% | 47.1% | 46.3% | 52.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.6% | 38.5% | 38.8% | 42.5% | 61.2% | 58.8% | 10.3% | 30.9% | — | — | — |
| FCF Yield | 6.2% | 27.6% | — | 96.9% | — | 35.7% | 341.3% | 31.3% | — | — | — |
| Buyback Yield | 1.2% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 3.2% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $112M | $114M | $115M | $115M | $115M | $115M | $113M | $110M | $107M | $108M |
Peruvian retail credit volatility
Based on recent market data, IFS trades at a P/B of 1.72, which appears to reflect a significant discount relative to regional peers like Credicorp, suggesting that investors are pricing in heightened sensitivity to Peruvian macroeconomic volatility and the inherent risks of its retail-heavy ecosystem model.
The current P/B multiple indicates that the market remains cautious regarding the bank's ability to generate consistent returns on tangible equity in the face of local political instability. This valuation suggests that the market views IFS as a cyclical play on the Peruvian consumer rather than a premium, high-growth financial franchise.
According to quarterly financial data, the company's ROE has struggled to maintain momentum, fluctuating between 1.4% and 5.0% over the last ten quarters, which indicates that the bank's profitability is currently constrained by inconsistent net interest margins and the high cost of managing its retail-focused loan book.
The DuPont decomposition suggests that the bank's profitability is heavily reliant on non-interest income contributions, which have shown significant volatility. Investors should monitor whether the bank can stabilize its core banking margins, as the current ROE levels appear insufficient to justify a premium valuation relative to its regional peers.
As reported in recent filings, the net interest margin has remained largely stagnant at approximately 1.2% over the last ten quarters, while the efficiency ratio has exhibited wide swings, peaking at 52.5% in 2025Q2, which highlights the difficulty of maintaining operating leverage in a digital-first retail banking model.
The lack of expansion in NIM suggests that the bank faces persistent pressure from funding costs and regulatory constraints within the Peruvian market. The volatility in the efficiency ratio warrants further investigation, as it may indicate that the bank's ongoing digital transformation efforts have yet to yield the expected cost-control benefits.
Based on regulatory disclosures, the company has maintained a consistent equity-to-assets ratio between 0.11 and 0.13 over the last ten quarters, suggesting that management has successfully preserved a stable capital buffer despite the significant macroeconomic fluctuations and political instability inherent in the Peruvian operating environment.
This stable capitalization provides a necessary cushion against potential credit quality deterioration in the retail portfolio. However, the bank's ability to return capital to shareholders appears secondary to maintaining these buffers, which may limit dividend growth in the near term.
Investors frequently misapply the P/E ratio to IFS, as reported in financial analysis, which obscures the significant earnings volatility caused by non-recurring investment portfolio gains and loan loss provision adjustments, making the P/B ratio a far more reliable metric for assessing the bank's underlying franchise value.
Because the P/E ratio is highly sensitive to the timing of provision expenses and insurance segment investment fluctuations, it often provides a distorted view of the bank's true earning power. Analysts should prioritize P/B and P/TBV to better capture the value of the bank's tangible equity base and its structural integration within the Intercorp ecosystem.
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Quick answers to the most common questions about buying IFS stock.
Intercorp Financial Services Inc.'s current P/E ratio is 11.7x. The historical average is 3.4x. This places it at the 100th percentile of its historical range.
Intercorp Financial Services Inc.'s current EV/EBITDA is 8.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 1.5x.
Intercorp Financial Services Inc.'s return on equity (ROE) is 15.6%. The historical average is 20.9%.
Based on historical data, Intercorp Financial Services Inc. is trading at a P/E of 11.7x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Intercorp Financial Services Inc.'s current dividend yield is 1.91% with a payout ratio of 22.3%.
Intercorp Financial Services Inc. has 65.3% gross margin and 25.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Intercorp Financial Services Inc.'s Debt/EBITDA ratio is 4.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.