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ING GROEP NV (INGA.AS) Stock Fundamental Analysis

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

18.786  +0.07 (+0.37%)

Fundamental Rating

3

Taking everything into account, INGA scores 3 out of 10 in our fundamental rating. INGA was compared to 93 industry peers in the Banks industry. Both the profitability and financial health of INGA have multiple concerns. INGA is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

INGA had positive earnings in the past year.
INGA had positive earnings in each of the past 5 years.
In the past 5 years INGA reported 4 times negative operating cash flow.
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 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 64.52% of its industry peers.
INGA has a better Return On Equity (19.58%) than 90.32% 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

With a decent Profit Margin value of 28.25%, INGA is doing good in the industry, outperforming 74.19% of the companies in the same industry.
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) 28.25%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y5.74%
PM growth 5Y2.19%
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.
Compared to 5 years ago, INGA has less shares outstanding
The debt/assets ratio for INGA is higher compared to a year ago.
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 3.18 is on the high side and indicates that INGA has dependencies on debt financing.
INGA has a Debt to Equity ratio of 3.18. This is in the lower half of the industry: INGA underperforms 68.82% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.18
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC15.11%
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 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 10B 20B 30B 40B 50B

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2

3. Growth

3.1 Past

The earnings per share for INGA have decreased by -2.44% in the last year.
INGA shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 10.03% yearly.
The Revenue has decreased by -1.78% in the past year.
INGA shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.70% yearly.
EPS 1Y (TTM)-2.44%
EPS 3Y17.91%
EPS 5Y10.03%
EPS Q2Q%-13.33%
Revenue 1Y (TTM)-1.78%
Revenue growth 3Y4.22%
Revenue growth 5Y3.7%
Sales Q2Q%-0.02%

3.2 Future

The Earnings Per Share is expected to grow by 0.85% on average over the next years.
The Revenue is expected to decrease by -0.96% on average over the next years.
EPS Next Y2.28%
EPS Next 2Y8.27%
EPS Next 3Y10.03%
EPS Next 5Y0.85%
Revenue Next Year-0.92%
Revenue Next 2Y1.89%
Revenue Next 3Y2.85%
Revenue Next 5Y-0.96%

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 decreasing: in the next years the growth will be less than in the last years.
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 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 0.5 1 1.5 2 2.5

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4

4. Valuation

4.1 Price/Earnings Ratio

INGA is valuated reasonably with a Price/Earnings ratio of 9.39.
The rest of the industry has a similar Price/Earnings ratio as INGA.
The average S&P500 Price/Earnings ratio is at 28.89. INGA is valued rather cheaply when compared to this.
A Price/Forward Earnings ratio of 9.18 indicates a reasonable valuation of INGA.
65.59% of the companies in the same industry are more expensive than INGA, based on the Price/Forward Earnings ratio.
INGA is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.98, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 9.39
Fwd PE 9.18
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 high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)4.12
PEG (5Y)0.94
EPS Next 2Y8.27%
EPS Next 3Y10.03%

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 5.79%, INGA is a good candidate for dividend investing.
INGA's Dividend Yield is comparable with the industry average which is at 5.27.
INGA's Dividend Yield is rather good when compared to the S&P500 average which is at 2.39.
Industry RankSector Rank
Dividend Yield 5.79%

5.2 History

The dividend of INGA has a limited annual growth rate of 5.21%.
Dividend Growth(5Y)5.21%
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's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP0%
EPS Next 2Y8.27%
EPS Next 3Y10.03%
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 40B 60B 80B 100B

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ING GROEP NV

AMS:INGA (3/27/2025, 10:29:16 AM)

18.786

+0.07 (+0.37%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)02-06 2025-02-06/bmo
Earnings (Next)05-02 2025-05-02/bmo
Inst Owners49.1%
Inst Owner ChangeN/A
Ins Owners0%
Ins Owner ChangeN/A
Market Cap57.37B
Analysts71.11
Price Target18.6 (-0.99%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.79%
Yearly Dividend0.85
Dividend Growth(5Y)5.21%
DP0%
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)16.01%
PT rev (1m)0.29%
PT rev (3m)0.41%
EPS NQ rev (1m)0.8%
EPS NQ rev (3m)-1.57%
EPS NY rev (1m)0%
EPS NY rev (3m)-2.42%
Revenue NQ rev (1m)0.11%
Revenue NQ rev (3m)0.21%
Revenue NY rev (1m)-0.3%
Revenue NY rev (3m)-0.52%
Valuation
Industry RankSector Rank
PE 9.39
Fwd PE 9.18
P/S 1.65
P/FCF N/A
P/OCF N/A
P/B 1.14
P/tB 1.17
EV/EBITDA N/A
EPS(TTM)2
EY10.65%
EPS(NY)2.05
Fwd EY10.89%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS11.42
BVpS16.48
TBVpS16.04
PEG (NY)4.12
PEG (5Y)0.94
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) 28.25%
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 3Y5.74%
PM growth 5Y2.19%
GM growth 3YN/A
GM growth 5YN/A
F-ScoreN/A
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 3.18
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
WACC15.11%
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)-2.44%
EPS 3Y17.91%
EPS 5Y10.03%
EPS Q2Q%-13.33%
EPS Next Y2.28%
EPS Next 2Y8.27%
EPS Next 3Y10.03%
EPS Next 5Y0.85%
Revenue 1Y (TTM)-1.78%
Revenue growth 3Y4.22%
Revenue growth 5Y3.7%
Sales Q2Q%-0.02%
Revenue Next Year-0.92%
Revenue Next 2Y1.89%
Revenue Next 3Y2.85%
Revenue Next 5Y-0.96%
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