Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Container Port Terminal Screener: March 2026 Strong Results Growth

ICTSI PM: InvestPH Conference Update, Good Set Up For FY26

Shortlist of High Conviction Philippines Equity Ideas - April 2026

ICTSI (ICT PM): Terminal Operator, Serial Grower With Pricing Power, 20% ROCE, 30% Net Margins

International Container Terminal Services (ICTSI PM) Concall Q3 FY25: Maintaining Steady >20% Growth

Container Port Terminal Screener: Jan 2026 - ICTSI Durban Port Approval And Buy-Backs, ATI Delisting

Container Port Terminal Screener December 2025: Top Picks For FY26

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

International Container Terminal Services / Equity Bottom-Up

International Container Terminal Services (ICT PM)

International Container Terminal Services

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<a href="https://www.smartkarma.com/entities/intl-container-term-svcs-inc" target="_blank" data-smartkarma-citation="entities:20001:1" rel="noopener">ICTSI (ICT PM)</a>  delivered a record FY25: revenue +18.1% to US$3.23bn, EBITDA +20.5% to US$2.14bn (margin 66.3%), and net income +23.3% to US$1.05bn, driven by broad-based TEU growth of +11%YoY.</li>
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Q4 FY25 was a record quarter. An expanding concession book (Durban, BACT, VICT extension),  US$740m FY26 capex programme, and a record EBITDA/TEU of US$157.5 position it as a high-quality compounder.</li>
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Rising leverage, FX exposure, an elevated Q4 tax rate, and Iraq/Basra volumes warrant close monitoring as the stock trades at a PE of  20x FY26e.</li>
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ICTSI (ICT PM)  delivered a record FY25: revenue +18.1% to US$3.23bn, EBITDA +20.5% to US$2.14bn (margin 66.3%), and net income +23.3% to US$1.05bn, driven by broad-based TEU growth of +11%YoY.

Q4 FY25 was a record quarter. An expanding concession book (Durban, BACT, VICT extension),  US$740m FY26 capex programme, and a record EBITDA/TEU of US$157.5 position it as a high-quality compounder.

Rising leverage, FX exposure, an elevated Q4 tax rate, and Iraq/Basra volumes warrant close monitoring as the stock trades at a PE of  20x FY26e.


ICTSI PM FY25 Results Concall: Steady Growth In FY26 Expected