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ING Groep (ING)
NYSE:ING
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ING Groep
(NYSE:ING)
Rating:75Outperform
Price Target:―
ING Groep (ING) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$67.44B
Dividend Yield4.69%
Average Volume (3M)2.32M
Price to Earnings (P/E)10.2
Beta (1Y)0.68
Revenue Growth4.07%
EPS Growth9.97%
CountryUS
Employees60,000
SectorFinancial
Sector Strength81
IndustryBanks - Diversified
Share Statistics
EPS (TTM)0.53
Shares Outstanding3,147,391,000
10 Day Avg. Volume1,987,788
30 Day Avg. Volume2,318,824
Financial Highlights & Ratios
PEG Ratio-2.31
Price to Book (P/B)1.14
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$22.00Price Target Upside2.71% Upside
Rating ConsensusHold
Number of Analyst Covering1
ING Groep Business Overview & Revenue Model
Company DescriptionING Groep N.V. (ING) is a prominent global financial institution headquartered in the Netherlands. It operates primarily in the banking sector, offering a wide range of services including retail and commercial banking, investment banking, asset management, and insurance services. Through its various subsidiaries and branches, ING serves millions of customers across Europe, Asia, and the Americas, providing both individual and corporate clients with financial solutions tailored to their needs.
How the Company Makes MoneyING Groep generates revenue through multiple streams, primarily from interest income, fees, and commissions. Interest income is earned from lending activities to individuals and businesses, including mortgages, personal loans, and corporate loans. Additionally, ING earns money through fees and commissions from various banking services such as asset management, investment banking, and international trade finance. The company also benefits from trading and investment income through its treasury and financial markets operations. ING's revenue model is further supported by strategic partnerships with other financial institutions and technological firms, enhancing its digital banking offerings and expanding its customer base. Additionally, ING's insurance and asset management services contribute to its diversified revenue streams, providing a balanced mix of income sources.
ING Groep Financial Statement Overview
Summary
ING Groep shows promising revenue growth and improved profitability, yet faces challenges with high leverage and negative cash flow. Sustained focus on improving cash flow and managing debt levels will be crucial for maintaining financial stability.Income Statement
ING Groep demonstrated strong revenue growth, with a substantial increase from €29 million to €22.4 billion in 2023. The net profit margin improved significantly, reflecting enhanced profitability. However, the absence of EBIT and EBITDA data for 2023 limits a comprehensive analysis of operational efficiency.75
Positive
Balance Sheet
The company's debt-to-equity ratio increased, indicating higher leverage, which could pose financial risks. The equity ratio remains stable, reflecting a solid capital structure. Improving return on equity suggests efficient use of shareholder funds, though the rise in total debt warrants caution.68
Positive
Cash Flow
ING Groep faced challenges in free cash flow, which declined in 2023 despite previous improvements. The operating cash flow is negative, indicating potential liquidity issues. The free cash flow to net income ratio remains unfavorable, suggesting difficulty in translating profits into cash.60
Neutral
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 22.55B | 22.41B | 29.00M | 18.29B | 17.82B | 18.31B | Gross Profit |
| 22.53B | 22.58B | 29.00M | 18.29B | 17.82B | 18.31B | EBIT |
| 6.93B | 0.00 | 4.69B | 6.65B | 3.73B | 6.74B | EBITDA |
| -1.65B | 0.00 | 6.12B | 7.47B | 4.57B | 7.57B | Net Income Common Stockholders |
| 6.90B | 7.29B | 3.67B | 4.78B | 2.48B | 4.78B |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 46.69B | 49.68B | 118.60B | 137.80B | 147.07B | 85.99B | Total Assets |
| 1.16T | 975.58B | 967.82B | 951.29B | 937.38B | 891.74B | Total Debt |
| 181.44B | 150.00B | 119.50B | 116.01B | 78.95B | 135.12B | Net Debt |
| 163.78B | 60.11B | 32.25B | 8.01B | -33.28B | 81.91B | Total Liabilities |
| 1.11T | 923.40B | 917.41B | 116.64B | 79.55B | 135.82B | Stockholders Equity |
| 49.51B | 51.24B | 49.91B | 53.92B | 47.67B | 53.77B |
| Cash Flow | Free Cash Flow | ||||
| 0.00 | -11.59B | -11.34B | -15.13B | 102.89B | 12.70B | Operating Cash Flow |
| 0.00 | -11.34B | -11.11B | -14.94B | 103.18B | 13.05B | Investing Cash Flow |
| 0.00 | -8.54B | -5.31B | 6.22B | -8.49B | -2.50B | Financing Cash Flow |
| 0.00 | -4.89B | 4.65B | 5.39B | -36.73B | -4.15B |
ING Groep Technical Analysis
Positive
21.42
Price Trends
19.31
Positive
17.88
Positive
17.01
Positive
Market Momentum
0.73
Negative
71.00
Negative
79.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ING, the sentiment is Positive. The current price of 21.42 is above the 20-day moving average (MA) of 20.49, above the 50-day MA of 19.31, and above the 200-day MA of 17.01, indicating a bullish trend. The MACD of 0.73 indicates Negative momentum. The RSI at 71.00 is Negative, neither overbought nor oversold. The STOCH value of 79.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ING.
ING Groep Risk Analysis
ING Groep disclosed 39 risk factors in its most recent earnings report. ING Groep reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
ING Groep Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $120.83B | 8.55 | 13.25% | 2.13% | 0.27% | 19.44% | |
80 Outperform | $210.30B | 11.08 | 10.83% | 5.53% | -1.91% | -6.79% | |
75 Outperform | $67.44B | 10.16 | 11.92% | 4.69% | 4.07% | 9.97% | |
73 Outperform | $88.82B | 7.97 | 19.22% | 4.09% | 30.24% | 28.90% | |
64 Neutral | $12.66B | 9.79 | 7.67% | 17015.07% | 12.23% | -6.06% |
* Financial Sector Average
Performance Comparison
ING
ING Groep
21.42
4.75
28.49%
BBVA
Banco Bilbao
15.13
4.86
47.32%
HSBC
HSBC Holdings
59.41
17.68
42.37%
SAN
Banco Santander SA
7.94
2.97
59.76%
ING Groep Earnings Call Summary
Earnings Call Date:May 02, 2025
(Q1-2025)
| % Change Since: 11.04%|
Next Earnings Date:Jul 31, 2025
Earnings Call Sentiment Positive
The earnings call revealed strong performance in deposit and mortgage growth, fee income, and sustainable finance. Despite challenges in Wholesale Banking and uncertainties in the geopolitical and macroeconomic landscape, ING demonstrated resilience and confidence in achieving its targets for 2025 and 2027.Q1-2025 Updates
Positive Updates
Exceptional Deposit and Mortgage Growth
ING reported significant growth in deposits and mortgage volumes, with net core lending and retail banking growing by €8.6 billion, primarily driven by mortgages.
Increase in Fee Income
Fee income increased by 10% compared to the first quarter of last year, driven by structural revenue growth in investment products, insurance, and daily banking fees.
Strong Capital Position
ING's CET1 ratio stood at 13.6%, and they announced a €2 billion share buyback, reflecting strong capital allocation towards retail banking.
Sustainable Finance Achievement
The volume of sustainable finance mobilized rose 23% to €30 billion, marking ING as the first global systematically important bank with climate targets validated by the Science-based Targets Initiative.
Positive Outlook for Mortgages
ING expects continued growth in the mortgage market, with a current market share of 17% in new production in the Netherlands, up from 10% a few years ago.
Negative Updates
Challenges in Wholesale Banking
Wholesale Banking experienced a modest decline in lending due to seasonal volatility and consistent capital optimization.
Geopolitical and Macroeconomic Uncertainty
Current geopolitical and macroeconomic uncertainties, including tariffs, have led to lower growth forecasts worldwide.
Stage 1 and Stage 2 Risk Costs
Stage 1 and Stage 2 risk costs amounted to €98 million, reflecting updates in macroeconomic forecasts and some risk migration.
Company Guidance
In the first quarter of 2025, ING Group reported robust commercial growth, with net core lending in retail banking increasing by €8.6 billion, primarily driven by mortgages. The bank saw a significant rise in fee income, up 10% compared to the same period last year, and mobilized €30 billion in sustainable finance, a 23% increase from the previous year. The total number of private individual customers grew to over 40 million, with an increase in primary bank customers. ING maintained a strong CET1 ratio of 13.6%, announcing a €2 billion share buyback and reinforcing its commitment to shareholder returns. The bank's strategy and prudent risk management allowed it to navigate geopolitical and macroeconomic uncertainties, while its diversified presence across Europe positioned it well for future growth opportunities.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.