May. 8 at 9:11 PM
$ICL ICL is a capital-intensive industrial/mining business. Carrying debt is completely normal for the sector.
$2.76B in debt against
$6.24B in equity is a debt-to-equity ratio of roughly 0.44x which is not alarming for a company with physical assets like mines, processing plants, and production facilities.
They generated ~
$1B in EBITDA in 2025. That makes the debt load very serviceable. Net debt / EBITDA is probably in the 2-2.5x range, which is pretty standard for specialty chemicals/materials.
Working capital of
$1.03B is actually a positive as it's a healthy liquidity buffer.
The
$2.54B Dead Sea concession agreement recently signed with the Israeli government actually resolved a major uncertainty that had been an overhang on the stock.
