ING GROEP NV (INGA.AS) Fundamental Analysis & Valuation

AMS:INGA • NL0011821202

Current stock price

22.495 EUR
-0.39 (-1.73%)
Last:

This INGA.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

3

1. INGA.AS Profitability Analysis

1.1 Basic Checks

  • INGA had positive earnings in the past year.
  • In the past 5 years INGA has always been profitable.
  • INGA had a negative operating cash flow in each 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B -20B 40B 60B 80B 100B

1.2 Ratios

  • The Return On Assets of INGA (1.20%) is better than 74.34% of its industry peers.
  • Looking at the Return On Equity, with a value of 25.55%, INGA belongs to the top of the industry, outperforming 97.35% of the companies in the same industry.
Industry RankSector Rank
ROA 1.2%
ROE 25.55%
ROIC N/A
ROA(3y)0.66%
ROA(5y)0.57%
ROE(3y)13.22%
ROE(5y)11.17%
ROIC(3y)N/A
ROIC(5y)N/A
INGA.AS Yearly ROA, ROE, ROICINGA.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10

1.3 Margins

  • Looking at the Profit Margin, with a value of 27.14%, INGA is in the better half of the industry, outperforming 71.68% of the companies in the same industry.
  • INGA's Profit Margin has improved in the last couple of years.
  • The Operating Margin and Gross Margin are not available for INGA so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 27.14%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y14.48%
PM growth 5Y16.17%
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

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1

2. INGA.AS Health Analysis

2.1 Basic Checks

  • INGA does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • The number of shares outstanding for INGA has been reduced compared to 1 year ago.
  • Compared to 5 years ago, INGA has less shares outstanding
  • Compared to 1 year ago, INGA has a worse debt to assets ratio.
INGA.AS Yearly Shares OutstandingINGA.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B
INGA.AS Yearly Total Debt VS Total AssetsINGA.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200B 400B 600B 800B 1T

2.2 Solvency

  • A Debt/Equity ratio of 3.41 is on the high side and indicates that INGA has dependencies on debt financing.
  • INGA's Debt to Equity ratio of 3.41 is on the low side compared to the rest of the industry. INGA is outperformed by 81.42% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.41
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC16.46%
INGA.AS Yearly LT Debt VS Equity VS FCFINGA.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50B 100B 150B

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 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B 50B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. INGA.AS Growth Analysis

3.1 Past

  • INGA shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 5.50%.
  • INGA shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 27.35% yearly.
  • INGA shows a strong growth in Revenue. In the last year, the Revenue has grown by 31.03%.
  • INGA shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.78% yearly.
EPS 1Y (TTM)5.5%
EPS 3Y29%
EPS 5Y27.35%
EPS Q2Q%23.08%
Revenue 1Y (TTM)31.03%
Revenue growth 3Y4.72%
Revenue growth 5Y3.78%
Sales Q2Q%7.21%

3.2 Future

  • Based on estimates for the next years, INGA will show a small growth in Earnings Per Share. The EPS will grow by 7.01% on average per year.
  • The Revenue is expected to grow by 3.90% on average over the next years.
EPS Next Y11.35%
EPS Next 2Y13.86%
EPS Next 3Y13.89%
EPS Next 5Y7.01%
Revenue Next Year5.38%
Revenue Next 2Y6.05%
Revenue Next 3Y6.06%
Revenue Next 5Y3.9%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
INGA.AS Yearly Revenue VS EstimatesINGA.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1 2 3

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5

4. INGA.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 10.66, the valuation of INGA can be described as reasonable.
  • 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 (25.70), we can say INGA is valued rather cheaply.
  • The Price/Forward Earnings ratio is 9.57, which indicates a very decent valuation of INGA.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of INGA indicates a somewhat cheap valuation: INGA is cheaper than 69.91% of the companies listed in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 23.84. INGA is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 10.66
Fwd PE 9.57
INGA.AS Price Earnings VS Forward Price EarningsINGA.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

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 5 10 15

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • INGA's earnings are expected to grow with 13.89% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.94
PEG (5Y)0.39
EPS Next 2Y13.86%
EPS Next 3Y13.89%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. INGA.AS Dividend Analysis

5.1 Amount

  • INGA has a Yearly Dividend Yield of 5.50%, which is a nice return.
  • Compared to an average industry Dividend Yield of 4.59, INGA pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.89, INGA pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.5%

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 2026 0.5 1 1.5

5.3 Sustainability

  • The dividend of INGA is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP0%
EPS Next 2Y13.86%
EPS Next 3Y13.89%
INGA.AS Yearly Income VS Free CF VS DividendINGA.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B -20B 40B 60B 80B 100B

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INGA.AS Fundamentals: All Metrics, Ratios and Statistics

ING GROEP NV

AMS:INGA (3/13/2026, 7:00:00 PM)

22.495

-0.39 (-1.73%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-29
Earnings (Next)04-30
Inst Owners49.71%
Inst Owner ChangeN/A
Ins Owners0%
Ins Owner ChangeN/A
Market Cap65.17B
Revenue(TTM)46.78B
Net Income(TTM)12.70B
Analysts77.78
Price Target27.55 (22.47%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.5%
Yearly Dividend1.2
Dividend Growth(5Y)12.43%
DP0%
Div Incr Years4
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)5.49%
Min EPS beat(2)5.18%
Max EPS beat(2)5.81%
EPS beat(4)3
Avg EPS beat(4)4.39%
Min EPS beat(4)-0.07%
Max EPS beat(4)6.63%
EPS beat(8)6
Avg EPS beat(8)4.7%
EPS beat(12)10
Avg EPS beat(12)8.25%
EPS beat(16)12
Avg EPS beat(16)7.06%
Revenue beat(2)1
Avg Revenue beat(2)2.35%
Min Revenue beat(2)-0.07%
Max Revenue beat(2)4.78%
Revenue beat(4)1
Avg Revenue beat(4)0.64%
Min Revenue beat(4)-1.31%
Max Revenue beat(4)4.78%
Revenue beat(8)4
Avg Revenue beat(8)0.46%
Revenue beat(12)6
Avg Revenue beat(12)0.32%
Revenue beat(16)8
Avg Revenue beat(16)13.74%
PT rev (1m)4.13%
PT rev (3m)14.93%
EPS NQ rev (1m)3.57%
EPS NQ rev (3m)-2.31%
EPS NY rev (1m)0.83%
EPS NY rev (3m)-0.17%
Revenue NQ rev (1m)0.79%
Revenue NQ rev (3m)-1.55%
Revenue NY rev (1m)-0.04%
Revenue NY rev (3m)-0.11%
Valuation
Industry RankSector Rank
PE 10.66
Fwd PE 9.57
P/S 1.39
P/FCF N/A
P/OCF N/A
P/B 1.31
P/tB 1.35
EV/EBITDA N/A
EPS(TTM)2.11
EY9.38%
EPS(NY)2.35
Fwd EY10.44%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS16.15
BVpS17.15
TBVpS16.63
PEG (NY)0.94
PEG (5Y)0.39
Graham Number28.54
Profitability
Industry RankSector Rank
ROA 1.2%
ROE 25.55%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 27.14%
GM N/A
FCFM N/A
ROA(3y)0.66%
ROA(5y)0.57%
ROE(3y)13.22%
ROE(5y)11.17%
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
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y14.48%
PM growth 5Y16.17%
GM growth 3YN/A
GM growth 5YN/A
F-ScoreN/A
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 3.41
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
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-ScoreN/A
WACC16.46%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)5.5%
EPS 3Y29%
EPS 5Y27.35%
EPS Q2Q%23.08%
EPS Next Y11.35%
EPS Next 2Y13.86%
EPS Next 3Y13.89%
EPS Next 5Y7.01%
Revenue 1Y (TTM)31.03%
Revenue growth 3Y4.72%
Revenue growth 5Y3.78%
Sales Q2Q%7.21%
Revenue Next Year5.38%
Revenue Next 2Y6.05%
Revenue Next 3Y6.06%
Revenue Next 5Y3.9%
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 1YN/A
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1YN/A
OCF growth 3YN/A
OCF growth 5YN/A

ING GROEP NV / INGA.AS Fundamental Analysis FAQ

What is the fundamental rating for INGA stock?

ChartMill assigns a fundamental rating of 3 / 10 to INGA.AS.


Can you provide the valuation status for ING GROEP NV?

ChartMill assigns a valuation rating of 5 / 10 to ING GROEP NV (INGA.AS). This can be considered as Fairly Valued.


How profitable is ING GROEP NV (INGA.AS) stock?

ING GROEP NV (INGA.AS) has a profitability rating of 3 / 10.


What is the valuation of ING GROEP NV based on its PE and PB ratios?

The Price/Earnings (PE) ratio for ING GROEP NV (INGA.AS) is 10.66 and the Price/Book (PB) ratio is 1.31.


Can you provide the dividend sustainability for INGA stock?

The dividend rating of ING GROEP NV (INGA.AS) is 6 / 10 and the dividend payout ratio is 0%.