Intermediate Capital Group (LON:ICG) Releases Earnings Results

Posted by Brenda Bartman on May 21st, 2026

Intermediate Capital Group (LON:ICG – Get Free Report) posted its quarterly earnings results on Thursday. The company reported GBX 166.80 earnings per share for the quarter, Digital Look Earnings reports. Intermediate Capital Group had a net margin of 53.05% and a return on equity of 23.35%. The business had revenue of GBX 103.60 billion during the quarter.

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

ICG delivered a strong FY 2026, with fundraising of $17 billion, Fee Earning AUM up 11% to $87 billion, FRE up 23% to GBP 350 million, and record group operating cash flow of GBP 861 million.
Fundraising meaningfully beat expectations, led by a record year in real assets and strong closes across scaling strategies; the firm also highlighted its Amundi partnership as a long-term wealth-channel growth opportunity.
Management emphasized strong investment performance and client demand, citing market-leading DPI in higher-return strategies, 83 new institutional LPs added during the year, and continued share gains across flagship and scaling platforms.
ICG ended the year with a much stronger balance sheet, cutting net debt to GBP 113 million and maintaining GBP 1.5 billion of liquidity, while reiterating a capital allocation priority of the progressive dividend, reaching zero net debt, and then considering buybacks or other uses of capital.
Outlook remains constructive but cautious, with management expecting FY 2027 fundraising to be lower than FY 2026 due to the cycle, while still seeing opportunities to deploy dry powder selectively amid a challenging macro and valuation backdrop.

Intermediate Capital Group Stock Up 3.2%

LON ICG traded up GBX 59 during trading on Thursday, reaching GBX 1,892. 2,872,569 shares of the stock traded hands, compared to its average volume of 8,261,180. Intermediate Capital Group has a fifty-two week low of GBX 1,424.88 and a fifty-two week high of GBX 2,340. The firm has a market cap of £5.41 billion, a price-to-earnings ratio of 9.29 and a beta of 1.40. The stock’s 50-day moving average price is GBX 1,697.99 and its 200 day moving average price is GBX 1,839.89.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Jefferies Financial Group lowered their target price on shares of Intermediate Capital Group from GBX 2,900 to GBX 2,500 and set a “buy” rating for the company in a report on Wednesday, May 13th. UBS Group restated a “neutral” rating and issued a GBX 2,150 price target on shares of Intermediate Capital Group in a research report on Monday. Finally, Citigroup decreased their price objective on Intermediate Capital Group from GBX 2,550 to GBX 2,290 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of GBX 2,456.57.

Get Our Latest Research Report on Intermediate Capital Group

Insiders Place Their Bets

In other news, insider Matthew Lester acquired 504 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was acquired at an average price of GBX 1,584 per share, for a total transaction of £7,983.36. Also, insider David Bicarregui acquired 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The shares were acquired at an average cost of GBX 1,493 per share, for a total transaction of £447,900. 2.50% of the stock is owned by corporate insiders.

About Intermediate Capital Group

(Get Free Report)

ICG (LSE: ICG) is a global alternative asset manager with $127bn* 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.