ING Fundamental Analysis - ING GROEP N.V.-SPONSORED ADR

Fundamental Rating

We assign a fundamental rating of 3 out of 10 to ING. ING was compared to 393 industry peers in the Banks industry. ING has a bad profitability rating. Also its financial health evaluation is rather negative. ING has a valuation in line with the averages, but it does not seem to be growing. Finally ING also has an excellent dividend rating.

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1. Profitability

1.1 Basic Checks

ING had positive earnings in the past year.

In the past year ING has reported a negative cash flow from operations.

ING had positive earnings in each of the past 5 years.

In the past 5 years ING reported 4 times negative operating cash flow.

1.2 Ratios

ING has a better Return On Assets (0.97%) than 63.10% of its industry peers.

The Return On Equity of ING (19.58%) is better than 97.71% of its industry peers.

		Industry Rank	Sector Rank
ROA	0.97%
ROE	19.58%
ROIC	N/A

ROA(3y)0.58%

ROA(5y)0.5%

ROE(3y)11.43%

ROE(5y)9.54%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

Looking at the Profit Margin, with a value of 27.59%, ING is in the better half of the industry, outperforming 74.55% of the companies in the same industry.

In the last couple of years the Profit Margin of ING has grown nicely.

The Operating Margin and Gross Margin are not available for ING so they could not be analyzed.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	27.59%
GM	N/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y3.36%

PM growth 5Y1.88%

GM growth 3YN/A

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

ING does not have a ROIC to compare to the WACC, probably because it is not profitable.

ING has less shares outstanding than it did 1 year ago.

The number of shares outstanding for ING has been reduced compared to 5 years ago.

The debt/assets ratio for ING is higher compared to a year ago.

2.2 Solvency

ING has a Debt/Equity ratio of 2.08. This is a high value indicating a heavy dependency on external financing.

Looking at the Debt to Equity ratio, with a value of 2.08, ING is doing worse than 90.08% of the companies in the same industry.

		Industry Rank	Sector Rank
Debt/Equity	2.08
Debt/FCF	N/A
Altman-Z	N/A

ROIC/WACCN/A

WACC15.65%

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

ING shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -0.99%.

ING shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 10.03% yearly.

ING shows a small growth in Revenue. In the last year, the Revenue has grown by 0.51%.

The Revenue has been growing slightly by 4.03% on average over the past years.

EPS 1Y (TTM)-0.99%

EPS 3Y17.91%

EPS 5Y10.03%

EPS Q2Q%3.7%

Revenue 1Y (TTM)0.51%

Revenue growth 3Y6.62%

Revenue growth 5Y4.03%

Sales Q2Q%-0.24%

3.2 Future

ING is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 3.69% yearly.

ING is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.01% yearly.

EPS Next Y-1.22%

EPS Next 2Y6.95%

EPS Next 3Y9.11%

EPS Next 5Y3.69%

Revenue Next Year-0.81%

Revenue Next 2Y2.26%

Revenue Next 3Y3.41%

Revenue Next 5Y2.01%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

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4. Valuation

4.1 Price/Earnings Ratio

ING is valuated reasonably with a Price/Earnings ratio of 10.20.

78.88% of the companies in the same industry are more expensive than ING, based on the Price/Earnings ratio.

The average S&P500 Price/Earnings ratio is at 26.87. ING is valued rather cheaply when compared to this.

With a Price/Forward Earnings ratio of 8.98, the valuation of ING can be described as very reasonable.

Compared to the rest of the industry, the Price/Forward Earnings ratio of ING indicates a somewhat cheap valuation: ING is cheaper than 71.25% of the companies listed in the same industry.

ING's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 35.34.

		Industry Rank	Sector Rank
PE	10.2
Fwd PE	8.98

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

4.3 Compensation for Growth

PEG (NY)N/A

PEG (5Y)1.02

EPS Next 2Y6.95%

EPS Next 3Y9.11%

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5. Dividend

5.1 Amount

ING has a Yearly Dividend Yield of 5.24%, which is a nice return.

ING's Dividend Yield is rather good when compared to the industry average which is at 3.54. ING pays more dividend than 85.75% of the companies in the same industry.

Compared to an average S&P500 Dividend Yield of 2.39, ING pays a better dividend.

		Industry Rank	Sector Rank
Dividend Yield	5.24%

5.2 History

On average, the dividend of ING grows each year by 12.43%, which is quite nice.

ING has been paying a dividend for at least 10 years, so it has a reliable track record.

ING has not decreased its dividend in the last 3 years.

Dividend Growth(5Y)12.43%

Div Incr Years3

Div Non Decr Years3

5.3 Sustainability

39.38% of the earnings are spent on dividend by ING. This is a low number and sustainable payout ratio.

The dividend of ING is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.

DP39.38%

EPS Next 2Y6.95%

EPS Next 3Y9.11%

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ING GROEP N.V.-SPONSORED ADR

NYSE:ING (8/15/2025, 8:04:00 PM)

After market: 25.1685 +0.29 (+1.16%)

24.88

-0.08 (-0.32%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)07-31 2025-07-31/bmo

Earnings (Next)10-30 2025-10-30/bmo

Inst Owners41.67%

Inst Owner Change0.29%

Ins Owners0%

Ins Owner ChangeN/A

Market Cap73.72B

Analysts76.92

Price Target25.75 (3.5%)

Short Float %0.19%

Short Ratio2.27

Dividend

		Industry Rank	Sector Rank
Dividend Yield	5.24%

Yearly Dividend1.45

Dividend Growth(5Y)12.43%

DP39.38%

Div Incr Years3

Div Non Decr Years3

Ex-Date08-11 2025-08-11 (0.400163)

Surprises & Revisions

EPS beat(2)1

Avg EPS beat(2)2.53%

Min EPS beat(2)-4.62%

Max EPS beat(2)9.69%

EPS beat(4)3

Avg EPS beat(4)5.02%

Min EPS beat(4)-4.62%

Max EPS beat(4)9.69%

EPS beat(8)7

Avg EPS beat(8)10.18%

EPS beat(12)9

Avg EPS beat(12)7.96%

EPS beat(16)12

Avg EPS beat(16)9%

Revenue beat(2)1

Avg Revenue beat(2)-0.62%

Min Revenue beat(2)-2.65%

Max Revenue beat(2)1.41%

Revenue beat(4)3

Avg Revenue beat(4)0.27%

Min Revenue beat(4)-2.65%

Max Revenue beat(4)2%

Revenue beat(8)5

Avg Revenue beat(8)0.16%

Revenue beat(12)7

Avg Revenue beat(12)18.1%

Revenue beat(16)11

Avg Revenue beat(16)28.85%

PT rev (1m)10.28%

PT rev (3m)14.95%

EPS NQ rev (1m)-1.08%

EPS NQ rev (3m)-1.08%

EPS NY rev (1m)0.51%

EPS NY rev (3m)1.92%

Revenue NQ rev (1m)0%

Revenue NQ rev (3m)0%

Revenue NY rev (1m)0.05%

Revenue NY rev (3m)0.05%

Valuation

		Industry Rank	Sector Rank
PE	10.2
Fwd PE	8.98
P/S	1.77
P/FCF	N/A
P/OCF	N/A
P/B	1.25
P/tB	1.29
EV/EBITDA	N/A

EPS(TTM)2.44

EY9.81%

EPS(NY)2.77

Fwd EY11.14%

FCF(TTM)-9.02

FCFYN/A

OCF(TTM)-8.89

OCFYN/A

SpS14.09

BVpS19.85

TBVpS19.32

PEG (NY)N/A

PEG (5Y)1.02

Profitability

		Industry Rank	Sector Rank
ROA	0.97%
ROE	19.58%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	27.59%
GM	N/A
FCFM	N/A

ROA(3y)0.58%

ROA(5y)0.5%

ROE(3y)11.43%

ROE(5y)9.54%

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y3.36%

PM growth 5Y1.88%

GM growth 3YN/A

GM growth 5YN/A

F-Score2

Asset Turnover0.03

Health

		Industry Rank	Sector Rank
Debt/Equity	2.08
Debt/FCF	N/A
Debt/EBITDA	N/A
Cap/Depr	49.33%
Cap/Sales	0.93%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	N/A
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z	N/A

F-Score2

WACC15.65%

ROIC/WACCN/A

Cap/Depr(3y)39.44%

Cap/Depr(5y)35%

Cap/Sales(3y)1.18%

Cap/Sales(5y)1.19%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)-0.99%

EPS 3Y17.91%

EPS 5Y10.03%

EPS Q2Q%3.7%

EPS Next Y-1.22%

EPS Next 2Y6.95%

EPS Next 3Y9.11%

EPS Next 5Y3.69%

Revenue 1Y (TTM)0.51%

Revenue growth 3Y6.62%

Revenue growth 5Y4.03%

Sales Q2Q%-0.24%

Revenue Next Year-0.81%

Revenue Next 2Y2.26%

Revenue Next 3Y3.41%

Revenue Next 5Y2.01%

EBIT growth 1YN/A

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next YearN/A

EBIT Next 3YN/A

EBIT Next 5YN/A

FCF growth 1Y-97.45%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y-98.8%

OCF growth 3YN/A

OCF growth 5YN/A

ING GROEP N.V.-SPONSORED ADR (ING) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

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