ICL Group Ltd
- Open
- 5.23
- Day high
- 5.24
- Day low
- 5.16
- Prev close
- 5.28
- Volume
- 113K
- Mkt cap
- $6.8B
- P/E (TTM)
- 26.1
- EPS (TTM)
- $0.20
- P/B
- 1.1
- P/S
- 0.9
- Yield
- 3.61%
- Per share
- $0.19
ICL Group Ltd (ICL) is a Basic Materials company listed on NYSE. The stock is down 22% over the past year. Drillr has 1 published research article covering ICL.
ICL Group Ltd (ICL) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ICL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 13, 2026 | $0.10 | $0.11 | +10.0% | $2.0B | +5.2% |
| Feb 18, 2026 | $0.09 | $0.09 | +0.0% | $1.7B | -3.9% |
| Nov 12, 2025 | $0.09 | $0.10 | +11.1% | $1.9B | -4.9% |
| Aug 6, 2025 | $0.08 | $0.09 | +12.5% | $1.8B | +0.0% |
| May 19, 2025 | $0.08 | $0.09 | +12.5% | $1.8B | -3.0% |
| Feb 26, 2025 | $0.08 | $0.08 | +0.0% | $1.6B | -6.3% |
| Aug 14, 2024 | $0.09 | $0.10 | +11.1% | $1.8B | -0.4% |
| May 9, 2024 | $0.09 | $0.09 | +0.0% | $1.7B | -1.8% |
| Feb 28, 2024 | $0.09 | $0.10 | +11.1% | $1.8B | +11.9% |
| Feb 15, 2023 | $0.29 | $0.28 | -3.4% | $2.1B | -3.9% |
| Jul 27, 2022 | $0.54 | $0.59 | +9.3% | $2.9B | +2.3% |
| Feb 9, 2022 | $0.16 | $0.26 | +62.5% | $2.0B | +6.2% |
ICL Group Ltd company profile
Overview
ICL Group Ltd (NASDAQ:ICL) is an Israeli specialty minerals and chemicals company founded in 1968 and headquartered in Tel Aviv. The company was previously known as Israel Chemicals Ltd before rebranding in May 2020. ICL has grown from its origins as a Dead Sea minerals extraction company into a global specialty chemicals manufacturer operating across four main business segments. The company went public in 2005 and has established itself as a significant player in agricultural inputs, industrial chemicals, and emerging battery materials markets.
Business
ICL operates as a specialty minerals and chemicals company serving global agricultural and industrial markets through four distinct business segments: Industrial Products (approximately 19% of revenue) produces bromine-based compounds extracted from Dead Sea brine, a byproduct of potash production. Bromine is a critical element used in flame retardants for electronics, construction materials, and automotive applications. The segment also manufactures various grades of potash, salt, magnesium chloride, and phosphorus-based flame retardants. These products serve electronics manufacturing, construction, automotive, and other industrial applications where fire safety is paramount. Potash (approximately 24% of revenue) extracts potash minerals directly from the Dead Sea through solar evaporation ponds. Potash is a potassium-rich fertilizer essential for plant growth and crop yields. The segment also produces Polysulphate, a multi-nutrient fertilizer containing potassium, sulfur, magnesium, and calcium. Additionally, it manufactures magnesium and magnesium alloys used in automotive and aerospace industries, along with related byproducts including chlorine and sylvinite. Phosphate Solutions (approximately 33% of revenue) transforms phosphate rock into specialty phosphate-based products for food, industrial, and agricultural applications. The segment produces thermal phosphoric acid used in oral care products, cleaning solutions, paints, water treatment, and metal processing. It also develops functional food ingredients and phosphate additives for processed meat, dairy, beverages, and baked goods, while manufacturing milk and whey proteins for the food ingredients industry. Growing Solutions (approximately 28% of revenue) develops and manufactures specialty fertilizers including water-soluble, liquid, controlled-release, and nitrogen-potash-phosphate blended fertilizers. These products are designed for precision agriculture, greenhouse cultivation, and specialty crop production where standard fertilizers are insufficient. The segment focuses on innovative agricultural solutions that improve crop yields while reducing environmental impact.
Revenue model
ICL generates revenue primarily through product sales across its four business segments, with customers including agricultural distributors, industrial manufacturers, food processors, and specialty chemical companies. The company operates on a business-to-business model, selling through marketing companies, agents, and distributors rather than directly to end consumers. Revenue generation varies significantly by segment and market conditions. The Potash segment benefits from commodity pricing cycles and global agricultural demand, while specialty segments like Industrial Products and Phosphate Solutions command premium pricing due to their technical specifications and customer switching costs. Growing Solutions operates in the higher-margin specialty fertilizer market where innovation and customization drive pricing power. Several factors influence ICL's profitability margins. Commodity price volatility significantly impacts the Potash segment, where global supply-demand imbalances and geopolitical tensions can cause dramatic price swings. Energy costs affect production economics, particularly for energy-intensive processes like phosphoric acid manufacturing. Raw material availability and transportation costs influence margins, especially given ICL's reliance on Dead Sea extraction and global shipping networks. Specialty product mix represents a key margin driver, as the company's strategic focus on higher-value specialty chemicals and fertilizers generates superior profitability compared to commodity products. Innovation and R&D investments support premium pricing through proprietary formulations and technical services. Operational efficiency initiatives and cost optimization programs help maintain competitiveness during challenging market conditions. Competitive dynamics vary by segment, with commodity businesses facing pricing pressure from global producers while specialty segments benefit from customer relationships and technical barriers to entry. Regulatory changes in agriculture and environmental standards can create both opportunities and challenges for different product lines.
Competitive moat
ICL's competitive moat is moderately strong but varies significantly across its business segments. The company's most defensible position stems from its unique access to Dead Sea minerals, which provides a natural resource advantage for potash and bromine production that competitors cannot easily replicate. This geographic moat is particularly valuable for bromine, where ICL controls a significant portion of global production capacity from this concentrated brine source. The company has built technical expertise and customer relationships in specialty chemical markets, particularly in phosphate-based food ingredients and industrial applications. These relationships involve lengthy qualification processes and switching costs that provide some protection against competition. ICL's innovation capabilities in specialty fertilizers and emerging battery materials represent potential future moats, though these markets remain highly competitive and evolving. However, ICL faces significant competitive challenges. The potash market includes large global producers with substantial scale advantages, making this segment largely commodity-driven with limited differentiation. Chinese competition in phosphate chemicals and fertilizers presents ongoing margin pressure, while technological disruption in agriculture and battery materials could threaten existing product lines. The company's emerging battery materials business operates in a rapidly evolving market with substantial competition from established chemical companies and new entrants. Success will depend on technological innovation, customer partnerships, and execution capability rather than existing competitive advantages. Overall, ICL possesses a moderate moat strengthened by natural resource access and specialty market positions, but faces ongoing competitive pressures that require continuous innovation and operational excellence to maintain market position.
Risks & safety
ICL demonstrates a moderate margin of safety with generally stable financial metrics but some cyclical volatility. • Liquidity and Solvency: Current ratio of 1.54 indicates adequate short-term liquidity. Cash and short-term investments of $327 million provide reasonable cushion. Debt-to-equity ratio of 0.40 represents manageable leverage levels. • Cash Generation: Strong operating cash flow of $1.47 billion and free cash flow of $755 million in 2024 demonstrate solid cash generation capabilities. No significant cash burn concerns. • Valuation Metrics: Trading at 15.7x P/E ratio and 6.1x EV/EBITDA, representing reasonable but not deeply discounted valuations. Price-to-book ratio of 1.11 suggests modest premium to book value. • Dividend Coverage: Maintains 50% dividend payout policy with current yield around 3.8%, indicating sustainable distribution policy. • Cyclical Risks: Commodity exposure in potash creates earnings volatility. Geopolitical risks from Israeli operations and global shipping disruptions present operational challenges. • Balance Sheet Strength: Total debt levels appear manageable relative to EBITDA generation, though commodity cycle downturns could pressure coverage ratios.
Recent development
Over the past few years, ICL has pursued a strategic transformation toward higher-margin specialty businesses while maintaining its commodity operations as cash generation engines. The company has significantly expanded its battery materials capabilities, receiving a $197 million grant from the US Department of Energy to develop lithium iron phosphate (LFP) battery materials manufacturing in St. Louis. This represents ICL's major bet on the electric vehicle and energy storage markets, with management targeting potential revenues of $4 billion and EBITDA of $1 billion by 2030. In the Growing Solutions segment, ICL has made strategic acquisitions including Custom Ag Formulators in North America and Nitro 1000 in Brazil to expand its biologicals and specialty fertilizer capabilities. The company has established innovation centers in Brazil and other locations to develop next-generation agricultural products, including partnerships in precision agriculture and AI-driven crop optimization through its Agmatix subsidiary. The company has focused on operational efficiency and cost optimization initiatives across all segments, implementing digital transformation programs and automation to improve productivity. ICL has also strengthened its sustainability profile, achieving improved ESG ratings and setting carbon emission reduction targets. Geographic expansion has been another key theme, with ICL expanding food phosphate capacity in China, developing strategic partnerships in Europe for battery materials, and strengthening its presence in high-growth agricultural markets. The company has navigated geopolitical challenges including the Israel-Hamas conflict while maintaining operational continuity and market share gains in specialty segments. Recent quarters have shown ICL's strategic pivot paying dividends, with specialty businesses now representing approximately 70% of EBITDA compared to historical commodity-heavy operations. The company continues investing in R&D and innovation while maintaining disciplined capital allocation and shareholder returns through its dividend policy.
ICL company profile · for informational purposes only — not investment advice.
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