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ING GROEP NV (INGA.AS) Stock Fundamental Analysis

AMS:INGA - Euronext Amsterdam - NL0011821202 - Common Stock - Currency: EUR

19.358  -0.13 (-0.67%)

Fundamental Rating

3

Overall INGA gets a fundamental rating of 3 out of 10. We evaluated INGA against 91 industry peers in the Banks industry. INGA may be in some trouble as it scores bad on both profitability and health. INGA has a valuation in line with the averages, but on the other hand it scores bad on growth. INGA also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year INGA was profitable.
In the past year INGA has reported a negative cash flow from operations.
Each year in the past 5 years INGA has been profitable.
INGA had negative operating cash flow in 4 of the past 5 years.
INGA.AS Yearly Net Income VS EBIT VS OCF VS FCFINGA.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B -20B 40B 60B 80B 100B

1.2 Ratios

INGA's Return On Assets of 0.97% is fine compared to the rest of the industry. INGA outperforms 64.84% of its industry peers.
INGA has a Return On Equity of 19.58%. This is amongst the best in the industry. INGA outperforms 93.41% of its industry peers.
Industry RankSector 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
INGA.AS Yearly ROA, ROE, ROICINGA.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10

1.3 Margins

INGA has a Profit Margin of 27.59%. This is in the better half of the industry: INGA outperforms 75.82% of its industry peers.
In the last couple of years the Profit Margin of INGA has grown nicely.
INGA does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector 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
INGA.AS Yearly Profit, Operating, Gross MarginsINGA.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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1

2. Health

2.1 Basic Checks

INGA does not have a ROIC to compare to the WACC, probably because it is not profitable.
INGA has less shares outstanding than it did 1 year ago.
The number of shares outstanding for INGA has been reduced compared to 5 years ago.
Compared to 1 year ago, INGA has a worse debt to assets ratio.
INGA.AS Yearly Shares OutstandingINGA.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B
INGA.AS Yearly Total Debt VS Total AssetsINGA.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200B 400B 600B 800B 1T

2.2 Solvency

A Debt/Equity ratio of 2.08 is on the high side and indicates that INGA has dependencies on debt financing.
INGA has a Debt to Equity ratio of 2.08. This is comparable to the rest of the industry: INGA outperforms 53.85% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.08
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC16.44%
INGA.AS Yearly LT Debt VS Equity VS FCFINGA.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B -20B 40B 60B 80B 100B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
INGA.AS Yearly Current Assets VS Current LiabilitesINGA.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B 50B

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3

3. Growth

3.1 Past

INGA shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -4.78%.
INGA shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 10.03% yearly.
INGA shows a small growth in Revenue. In the last year, the Revenue has grown by 0.69%.
Measured over the past years, INGA shows a small growth in Revenue. The Revenue has been growing by 4.03% on average per year.
EPS 1Y (TTM)-4.78%
EPS 3Y17.91%
EPS 5Y10.03%
EPS Q2Q%-2.08%
Revenue 1Y (TTM)0.69%
Revenue growth 3Y6.62%
Revenue growth 5Y4.03%
Sales Q2Q%0.97%

3.2 Future

The Earnings Per Share is expected to grow by 3.69% on average over the next years.
INGA 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-0.86%
Revenue Next 2Y2.04%
Revenue Next 3Y3%
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.
INGA.AS Yearly Revenue VS EstimatesINGA.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 5B 10B 15B 20B 25B
INGA.AS Yearly EPS VS EstimatesINGA.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0.5 1 1.5 2 2.5

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4

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 9.73 indicates a reasonable valuation of INGA.
The rest of the industry has a similar Price/Earnings ratio as INGA.
When comparing the Price/Earnings ratio of INGA to the average of the S&P500 Index (27.52), we can say INGA is valued rather cheaply.
With a Price/Forward Earnings ratio of 8.46, the valuation of INGA can be described as very reasonable.
Based on the Price/Forward Earnings ratio, INGA is valued a bit cheaper than 78.02% of the companies in the same industry.
INGA is valuated cheaply when we compare the Price/Forward Earnings ratio to 35.58, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 9.73
Fwd PE 8.46
INGA.AS Price Earnings VS Forward Price EarningsINGA.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
INGA.AS Per share dataINGA.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5 10 15

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)0.97
EPS Next 2Y6.95%
EPS Next 3Y9.11%

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7

5. Dividend

5.1 Amount

INGA has a Yearly Dividend Yield of 5.37%, which is a nice return.
Compared to an average industry Dividend Yield of 5.19, INGA has a dividend in line with its industry peers.
INGA's Dividend Yield is rather good when compared to the S&P500 average which is at 2.35.
Industry RankSector Rank
Dividend Yield 5.37%

5.2 History

The dividend of INGA is nicely growing with an annual growth rate of 12.43%!
Dividend Growth(5Y)12.43%
Div Incr Years4
Div Non Decr Years4
INGA.AS Yearly Dividends per shareINGA.AS Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

INGA pays out 39.38% of its income as dividend. This is a sustainable payout ratio.
INGA's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP39.38%
EPS Next 2Y6.95%
EPS Next 3Y9.11%
INGA.AS Yearly Income VS Free CF VS DividendINGA.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B -20B 40B 60B 80B 100B
INGA.AS Dividend Payout.INGA.AS Dividend Payout, showing the Payout Ratio.INGA.AS Dividend Payout.PayoutRetained Earnings

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ING GROEP NV

AMS:INGA (7/14/2025, 7:00:00 PM)

19.358

-0.13 (-0.67%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)05-02 2025-05-02/bmo
Earnings (Next)07-31 2025-07-31/bmo
Inst Owners41.67%
Inst Owner ChangeN/A
Ins Owners0%
Ins Owner ChangeN/A
Market Cap57.65B
Analysts76.15
Price Target20.34 (5.07%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.37%
Yearly Dividend1.2
Dividend Growth(5Y)12.43%
DP39.38%
Div Incr Years4
Div Non Decr Years4
Ex-DateN/A
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)0.04%
PT rev (3m)3.73%
EPS NQ rev (1m)0%
EPS NQ rev (3m)2.74%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.17%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.85%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.06%
Valuation
Industry RankSector Rank
PE 9.73
Fwd PE 8.46
P/S 1.61
P/FCF N/A
P/OCF N/A
P/B 1.15
P/tB 1.18
EV/EBITDA N/A
EPS(TTM)1.99
EY10.28%
EPS(NY)2.29
Fwd EY11.82%
FCF(TTM)-7.68
FCFYN/A
OCF(TTM)-7.57
OCFYN/A
SpS11.99
BVpS16.89
TBVpS16.45
PEG (NY)N/A
PEG (5Y)0.97
Profitability
Industry RankSector 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 RankSector 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
WACC16.44%
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)-4.78%
EPS 3Y17.91%
EPS 5Y10.03%
EPS Q2Q%-2.08%
EPS Next Y-1.22%
EPS Next 2Y6.95%
EPS Next 3Y9.11%
EPS Next 5Y3.69%
Revenue 1Y (TTM)0.69%
Revenue growth 3Y6.62%
Revenue growth 5Y4.03%
Sales Q2Q%0.97%
Revenue Next Year-0.86%
Revenue Next 2Y2.04%
Revenue Next 3Y3%
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