Sunday 11 October 2026 Export all ING data to Excel Powerpack

ING Group, N.V.

In the quarter to June 2026, revenue grew 29.8%, EPS grew 14.8% and free cash flow fell 27.0%, each against the same quarter a year earlier.

33.37 0.06 −0.18%

Follow ING

Alert me

Market cap: $94.0B
P/E: 14.1×
Fwd P/E: 6.6×
Dividend yield: 4.55%
F-score: 4/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 5.08%

Capital & Financial Ratios $m

Market Cap 94,030.00

Revenue 9,036.02

Net Income 20,224.98

Free Cash Flow 33,978.09

Net Debt (68,599.30)

Current Ratio 1.10

Debt/Equity 2.99

P/E ratio 14.14

Fwd P/E 6.57

P/S ratio 10.93

P/B ratio 1.53

Past 5Y EPS Growth 26.88%

This Y EPS Growth 13.24%

Next Y EPS Growth 17.02%

Next Y revenue growth (84.91%)

Next 5Y EPS Growth 15.23%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 91.29%

10-year low 10-year high

P/S against its own 10 years 98.12%

10-year low 10-year high

P/B against its own 10 years 98.01%

10-year low 10-year high

Dividends

Payout Ratio 0.64

Annual Dividend Rate 1.52

Annual Dividend Yield 4.55%

	total	individual payouts
2026	1.52	0.20 0.86 0.46
2025	10.96	0.17 0.80 0.41
2024	1.20	0.81 0.38
2023	0.81	0.09 0.43 0.38
2022	0.60	0.43 0.24 0.17
2021	0.00	0.15 0.55
2020	Powerpack
2019	0.76	0.49 0.27
2018	0.79	0.51 0.27
2017	0.75	0.47 0.28
2016	0.74	0.47 0.27

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	228,583	222,340	208,618	261,620
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	947,254	985,633	1,055,965	1,182,043

	2023	2024	2025	Q'26
Payables	728,965	766,542	837,112	935,948
ST’ Debt	—	—	—	—
Other	102,428	94,033	91,115	120,122
	848,490	880,220	949,170	1,078,841

Compound Annual Growth %

	10y	5y	3y
Sales	14.34%	18.35%	14.67%
Cash Flow	0.00%	0.00%	0.00%
Earnings	7.78%	29.66%	(9.67%)
Book Value	2.14%	0.81%	1.40%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	2,122	—	2,563	—	70,212
’24	1,909	—	2,442	—	70,335
’23	1,669	6,259	1,974	—	58,833
’22	1,329	4,878	4,283	5,179	46,568
’21	1,433	5,007	1,486	5,255	32,119
’20	1,113	5,249	1,119	5,147	30,234

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	17,708	—	—	—
’25	—	11,909	—	—	(7,218)
’24	—	6,405	—	—	(24,395)
’23	—	—	—	—	(12,273)
’22	—	—	—	—	(11,708)
’21	—	—	—	—	(17,679)
’20	—	—	—	—	115,650

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	17,708	—	—	—
’25	—	11,909	—	—	(7,571)
’24	—	6,405	—	—	(24,700)
’23	—	4,897	—	—	(12,478)
’22	—	24,249	—	—	(11,864)
’21	—	(3,847)	—	—	(17,851)
’20	—	85,249	—	—	115,408

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	0.49	—	0.70	—	2.40
’24	0.52	—	0.65	—	2.14
’23	0.47	—	0.61	—	1.33
’22	0.12	0.32	—	—	3.55
’21	0.31	—	0.41	—	1.45
’20	0.19	—	0.23	—	0.73

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	9.26	13.63	10.21	9.22	4.52	8.65	8.14	11.00	12.78	15.47	Analyst estimates 2026–2028 Powerpack
	High	14.68	19.01	20.58	13.72	12.44	15.65	15.97	15.22	18.72	28.36
People
People	Employees	51,943	51,504	52,233	53,431	55,901	57,660	57,569	46,000	60,000	60,000
	Revenue/emp, $m	0.38	0.41	0.73	0.66	0.54	0.56	0.81	1.28	1.17	1.17
Income, $m
Income, $m	Revenue	19,810	21,012	37,923	35,254	30,234	32,119	46,568	58,833	70,335	70,212
	Gross margin, %	100.00	100.00	57.06	54.40	65.97	74.03	68.82	33.34	32.51	41.39
	EBT	6,987	9,138	8,250	6,331	3,883	9,920	18,288	6,534	8,410	13,340
	EBT margin, %	35.27	43.49	21.76	17.96	12.84	30.89	39.27	11.11	11.96	19.00
	Net income	7,473	9,138	8,250	6,331	3,883	9,920	18,288	6,534	8,410	13,340
	Depreciation	593	588	614	884	947	987	749	729	728	752
Per share, $
Per share, $	Revenue	5.11	5.41	9.75	9.05	7.75	8.26	12.87	16.51	21.78	23.48
	Earnings	1.33	1.42	1.43	1.38	0.73	1.45	3.56	1.33	2.14	2.40
	Cash flow	2.44	(1.53)	2.10	3.75	29.66	(4.55)	(3.23)	(3.44)	(7.56)	(2.41)
	Capex	(0.08)	(0.06)	(0.08)	(0.08)	(0.06)	(0.04)	(0.04)	(0.06)	(0.09)	(0.12)
	Free cash flow	2.36	(1.59)	2.02	3.68	29.60	(4.59)	(3.28)	(3.50)	(7.65)	(2.53)
	Book value	13.67	14.31	15.14	14.92	15.42	16.07	16.60	16.90	18.00	20.94
	Shares, m	3,875	3,883	3,889	3,895	3,899	3,889	3,619	3,563	3,229	2,990
Valuation, ×
Valuation, ×	P/E	11.09	14.33	7.51	8.50	12.68	9.64	12.36	7.20	6.44	11.86
	P/S	3.00	3.86	2.10	2.76	2.92	4.06	2.95	3.48	3.99	9.17
	P/B	0.99	1.35	0.68	0.77	0.55	0.87	0.87	0.95	0.84	1.37
	EV/Sales	(0.72)	0.19	(2.38)	2.58	(3.42)	(5.72)	(8.70)	(6.48)	(4.56)	(1.00)
	EV/FCF	(0.86)	0.32	5.33	(13.01)	(0.56)	(0.93)	(1.25)	(0.89)	(3.23)	(0.27)
Cash, $m
Cash, $m	Operating cash flow	9,465	(5,937)	8,167	14,622	115,650	(17,679)	(11,708)	(12,273)	(24,395)	(7,218)
	Capex	(319)	(225)	(318)	(307)	(242)	(172)	(156)	(205)	(305)	(353)
	Free cash flow	9,146	(6,162)	7,849	14,315	115,408	(17,851)	(11,864)	(12,478)	(24,700)	(7,571)
Balance, $m
Balance, $m	Working capital	61,022	71,424	103,439	96,357	49,877	77,061	74,724	98,764	105,413	106,795
	Total debt	114,239	108,606	141,426	132,751	93,743	108,590	101,059	134,930	154,055	171,103
	Net debt	(38,192)	(53,003)	(56,756)	(32,036)	(147,139)	(136,241)	(107,013)	(93,652)	(68,285)	(37,515)
	Shareholders’ equity	52,965	55,547	58,874	58,116	60,131	62,470	60,059	60,206	58,107	62,611
Returns, %
Returns, %	ROA	0.59	0.65	0.56	0.43	0.25	0.64	1.19	0.43	0.53	0.82
	ROIC	29.56	224.49	243.52	15.17	0.00	0.00	0.00	0.00	0.00	33.22
	ROE	10.63	11.38	9.83	7.47	4.35	11.49	20.85	7.45	9.76	15.60

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2025

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
MUFG Mitsubishi UFJ Financial Group, Inc.	$253.0B	17.4×	—	+21.62% (above 0%: growing)	+32.35% (above 0%: growing)	−145.30% (below 0%: shrinking)	61.56%	0.00%	Compare
WFC Wells Fargo & Company	$248.1B	12.1×	11.7×	+10.37% (above 0%: growing)	+25.47% (above 0%: growing)	+160.40% (above 0%: growing)	67.35%	0.00%	Compare
C Citigroup Inc.	$214.9B	13.9×	12.2×	+6.97% (above 0%: growing)	+56.72% (above 0%: growing)	+33.24% (above 0%: growing)	54.67%	0.00%	Compare
SAN Banco Santander, S.A.	$196.1B	10.9×	10.1×	+4.44% (above 0%: growing)	+8.00% (above 0%: growing)	−105.65% (below 0%: shrinking)	100.00%	0.00%	Compare
UBS UBS Group AG	$144.1B	15.7×	14.4×	−40.29% (below 0%: shrinking)	+21.33% (above 0%: growing)	−53.01% (below 0%: shrinking)	100.00%	0.00%	Compare
BBVA Banco Bilbao Viscaya Argentaria S.A.	$142.2B	11.9×	7.7×	+23.54% (above 0%: growing)	+19.23% (above 0%: growing)	+439.38% (above 0%: growing)	100.00%	0.00%	Compare
BNY BNY	$97.4B	16.5×	16.3×	−2.25% (below 0%: shrinking)	+26.67% (above 0%: growing)	+7.45% (above 0%: growing)	55.91%	0.00%	Compare
ING ING Group, N.V.	$94.0B	14.1×	6.6×	+29.83% (above 0%: growing)	+14.75% (above 0%: growing)	−26.97% (below 0%: shrinking)	100.00%	0.00%
BCS Barclays PLC	$76.6B	8.6×	8.8×	+16.58% (above 0%: growing)	+45.16% (above 0%: growing)	−13.85% (below 0%: shrinking)	100.00%	0.00%	Compare
Median of peers	$170.1B	13.0×	11.7×	+8.67%	+26.07%	−3.20%	83.68%	0.00%

All 14 Banks Diversified stocks →

ING Group, N.V. (ING) key facts

ING Group, N.V. (ING) is a Banks Diversified company in the Financial sector, traded in the US as an ADR.
As of October 9, 2026, ING traded at $33.37, a market capitalization of $94.0 billion.
ING Group, N.V. pays an annual dividend of $1.52 per share, a yield of 4.55%, with a payout ratio of 64.3%.
Return on equity was 15.6% and debt-to-equity 2.99.
Its Piotroski F-score is 4 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.