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Sunday 11 October 2026 Export all ING data to Excel Powerpack

ING Group, N.V.

ING Financial Banks Diversified

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%
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 (above 10: high)
P/B ratio 1.53
Past 5Y EPS Growth 26.88% (at or above 15%: strong)
This Y EPS Growth 13.24%
Next Y EPS Growth 17.02% (at or above 15%: strong)
Next Y revenue growth (84.91%) (below 0%: weak)
Next 5Y EPS Growth 15.23% (at or above 15%: strong)

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.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

ING Group, N.V. vs peers in Banks Diversified (Q) = latest quarter vs a year earlier

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.

ING Group, N.V. (ING) Latest News

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stockrow.com/ING · Data as of Sep 30, 2025 · For information only; not investment advice. · © 2026 stockrow.com