ING GROEP (INGA) AI Stock Analysis

• Market Cap: €58.87B
• Dividend Yield: 5.62%
• Average Volume (3M): 10.89M
• Price to Earnings (P/E): 9.6
• Beta (1Y): 0.83
• Revenue Growth: 0.34%
• EPS Growth: -5.20%
• Country: NL
• Employees: 60,000
• Sector: Financial
• Sector Strength: 87
• Industry: Banks - Diversified
• EPS (TTM): 0.47
• Shares Outstanding: 3,147,391,000
• 10 Day Avg. Volume: 9,807,436
• 30 Day Avg. Volume: 10,893,912
• PEG Ratio: -2.25
• Price to Book (P/B): 1.11
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €20.16
• Price Target Upside: 6.39% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 12

ING Groep's stock score of 58 reflects a stable financial performance with revenue growth and profitability, despite operational and cash flow challenges. The technical analysis indicates a bearish trend, while the valuation metrics suggest potential undervaluation given the low P/E ratio and high dividend yield. Absence of earnings call data and notable corporate events leaves financial performance and valuation as key considerations.

Positive Factors

Digital Banking and Market Presence

Strong digital banking platform and diversified international presence reduces reliance on any single market and spreads risk.

Financial Performance

ING reported an adjusted net profit of €1.6bn, 7% higher vs consensus, driven by 3% higher revenues and 18% lower provisions.

Shareholder Returns

Attractive shareholder distribution programme with share buyback and dividend payment.

Negative Factors

Cost Management

Costs grew approximately 9% year over year, driven by inflation impact, reflected in higher staff expenses and higher VAT on intercompany services.

Earnings Outlook

The 2025 outlook points to earnings downgrades.

Interest Rate Environment

Challenging outlook amid a lower rate environment.

ING GROEP Business Overview & Revenue Model

Company Description

ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans. It also provides debt capital market, working capital, export finance, daily banking, treasury and risk, and corporate finance solutions; and specialized lending, equity market, finance, payments and cash management, and trade services and solutions, as well as savings, investment, insurance, mortgage, and digital banking services. The company serves customers, corporate clients, and financial institutions, including small and medium-sized, and mid-corporates. ING Groep N.V. was founded in 1762 and is headquartered in Amsterdam, the Netherlands.

How the Company Makes Money

ING Groep makes money primarily through its diversified range of financial services. The company's revenue model is based on earning interest income from loans and mortgages provided to retail and corporate clients. Additionally, ING generates substantial non-interest income through fees and commissions from services such as investment management, insurance products, and transaction services. ING's net interest income is driven by the difference between the interest it earns on loans and the interest it pays on deposits and other borrowings. Non-interest income is bolstered by its global network and digital banking platforms, which enhance customer engagement and service delivery. Strategic partnerships and collaborations with fintech companies also contribute to ING's ability to innovate and expand its service offerings, thereby supporting its earnings growth.

ING GROEP Financial Statement Overview

Summary

Income Statement

Balance Sheet

Cash Flow

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
22.55B	17.63B	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
76.84B	130.06B	118.60B	137.80B	147.07B	85.99B
	Total Assets
904.93B	975.58B	967.82B	951.29B	937.38B	891.74B
	Total Debt
135.69B	150.00B	119.50B	116.01B	78.95B	135.12B
	Net Debt
90.06B	60.11B	32.25B	8.01B	-33.28B	81.91B
	Total Liabilities
851.31B	923.40B	917.41B	116.64B	79.55B	135.82B
	Stockholders Equity
52.79B	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

• Technical Analysis Sentiment: Positive
• Last Price: 18.95
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:INGA, the sentiment is Positive. The current price of 18.95 is above the 20-day moving average (MA) of 17.57, above the 50-day MA of 17.21, and above the 200-day MA of 15.51, indicating a bullish trend. The MACD of 0.63 indicates Negative momentum. The RSI at 70.18 is Negative, neither overbought nor oversold. The STOCH value of 97.10 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:INGA.

ING GROEP Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NN	73 Outperform	€14.32B	9.95	7.69%	6.05%	-5.38%	38.01%
ABN	71 Outperform	€17.66B	7.67	10.26%	6.38%	-4.58%	-16.15%
Sector *	64 Neutral	$12.82B	9.87	7.67%	17000.34%	12.39%	-5.85%
VLK	63 Neutral	€2.45B	18.32	10.90%	3.51%	58.95%	―
AGN	61 Neutral	€9.66B	14.74	9.26%	5.21%	-5.08%	―
INGA	58 Neutral	€58.87B	9.61	11.97%	5.62%	0.34%	-5.20%