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ING GROEP
(INGA)
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Rating:60Neutral
Price Target:
€29.00
▲(17.55% Upside)
Action:Reiterated
Date:03/01/26
The score is primarily driven by financial performance: strong profitability is offset by high leverage and highly volatile cash flow and revenue. Valuation is supportive with a low P/E and high dividend yield, while technical indicators are largely neutral and do not meaningfully add momentum support.
Positive Factors
Profitability / Earnings Power
Consistently strong net profit margins in the high-20% range indicate durable earnings power and operational efficiency. This supports internal capital generation for dividends and reinvestment, and helps absorb cyclical shocks, underpinning long-term shareholder returns even if top-line swings persist.
Negative Factors
High leverage profile
Persistently high debt-to-equity amplifies earnings volatility and the bank's exposure to funding-cost spikes and credit cycles. Elevated leverage constrains strategic optionality, increases regulatory capital sensitivity, and can limit the firm's ability to expand lending or return capital during adverse macro conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability / Earnings Power
Consistently strong net profit margins in the high-20% range indicate durable earnings power and operational efficiency. This supports internal capital generation for dividends and reinvestment, and helps absorb cyclical shocks, underpinning long-term shareholder returns even if top-line swings persist.
Read all positive factors
ING GROEP (INGA) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€78.44B
Dividend Yield5.1%
Average Volume (3M)7.88M
Price to Earnings (P/E)12.7
Beta (1Y)1.00
Revenue Growth2.44%
EPS Growth10.58%
CountryNL
Employees60,000
SectorGeneral
Sector StrengthN/A
IndustryBanks - Diversified
Share Statistics
EPS (TTM)1.99
Shares Outstanding2,920,349,400
10 Day Avg. Volume7,561,458
30 Day Avg. Volume7,883,815
Financial Highlights & Ratios
PEG Ratio1.73
Price to Book (P/B)1.44
Price to Sales (P/S)3.11
P/FCF Ratio-375.16
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€30.00Price Target Upside21.61% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)2.41
Revenue Forecast (FY)€24.27B
ING GROEP Business Overview & Revenue Model
Company Description
Operating as a prominent global financial services group, ING Groep N.V. delivers a comprehensive suite of banking solutions and offerings across a vast international footprint. Its reach extends throughout the Netherlands, Belgium, Germany, and P...
How the Company Makes Money
ING primarily earns revenue from banking activities. A major source is net interest income: it pays interest on customer deposits and wholesale funding and earns interest on loans and other interest-earning assets; the spread between what it earns...
ING GROEP Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
32
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 41.21B | 23.04B | 22.62B | 17.63B | 33.61B | 25.78B |
| Gross Profit | 39.96B | 21.73B | 16.93B | 17.63B | 17.06B | 13.03B |
| EBITDA | 8.93B | 9.15B | 9.97B | 11.17B | 6.21B | 7.84B |
| Net Income | 6.17B | 6.33B | 6.39B | 7.29B | 3.67B | 4.78B |
Balance Sheet | ||||||
| Total Assets | 1.09T | 1.05T | 1.02T | 975.58B | 967.82B | 951.29B |
| Cash, Cash Equivalents and Short-Term Investments | 123.94B | 106.31B | 115.13B | 130.06B | 118.60B | 137.80B |
| Total Debt | 167.58B | 244.67B | 227.63B | 173.26B | 119.50B | 116.01B |
| Total Liabilities | 1.04T | 1.00T | 969.24B | 923.40B | 917.41B | 896.63B |
| Stockholders Equity | 52.29B | 49.70B | 50.31B | 51.24B | 49.91B | 53.92B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -191.00M | -56.15B | 4.83B | -11.34B | -15.13B |
| Operating Cash Flow | 0.00 | 160.00M | -55.82B | 5.07B | -11.11B | -14.94B |
| Investing Cash Flow | 0.00 | -69.58B | -6.03B | -1.67B | -5.31B | 6.22B |
| Financing Cash Flow | 0.00 | 55.59B | 38.65B | -4.89B | 4.65B | 5.39B |
ING GROEP Technical Analysis
Positive
24.67
Price Trends
25.93
Positive
24.49
Positive
23.24
Positive
Market Momentum
0.51
Negative
62.06
Neutral
45.27
Neutral
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 24.67 is below the 20-day moving average (MA) of 26.72, below the 50-day MA of 25.93, and above the 200-day MA of 23.24, indicating a bullish trend. The MACD of 0.51 indicates Negative momentum. The RSI at 62.06 is Neutral, neither overbought nor oversold. The STOCH value of 45.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:INGA.
ING GROEP Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | €14.90B | 9.33 | 11.85% | 2.07% | -0.30% | 32.04% | |
66 Neutral | €30.60B | 14.25 | 9.85% | 4.36% | -9.78% | 1.72% | |
60 Neutral | €78.44B | 12.69 | 12.05% | 5.10% | 2.44% | 10.58% | |
58 Neutral | €11.11B | 12.00 | 14.36% | 5.79% | 26.07% | 45.09% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €13.68B | 26.85 | 6.31% | 5.32% | 29.96% | -44.65% | |
53 Neutral | €19.31B | 25.72 | 6.47% | 5.40% | -0.97% | -25.25% |
* General Sector Average
NL:INGA
ING GROEP
27.67
9.73
54.23%
NL:ABN
ABN AMRO Group N.V.
37.18
14.83
66.36%
NL:AGN
Aegon NV
7.44
1.67
29.06%
NL:ASRNL
ASR Nederland N.V
66.04
13.25
25.10%
NL:HAL
HAL Trust
165.00
44.33
36.73%
NL:NN
NN Group N.V.
76.66
23.88
45.25%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.