QualityDipStocks / Finance · Commercial Banks
ING Group ING
On dip watch: 16% below its 52-week high.
A quality company trading above our fair value estimate.
- Fair value est.
- $27.77−12%
- Market Value
- —
- Off 52-wk high
- −16%
- Risk vs market
- Above marketbeta 1.36
5 bullish · 2 bearish See why
Key levels
Every level vs today’s $31.46
- 52-wk lowlowest close, 1 year$24.37−22.5%
- Fair value est.base case$27.77−11.7%
- PriceFri Oct 30 close$31.46you are here
- 52-wk highhighest close, 1 year$37.27+18.5%
Fair value estimate
How the range is computed
Financials model (residual income). Same residual-income model as the base: cost of equity 9.5% ±1 point and return on equity 13.8% ±2 points. Bear = 10.5% and 11.8%; bull = 8.5% and 15.8%. A model estimate from public filings, not a forecast of where the price will go.
Price sits inside the range.
What the price implies To be worth today’s price, ING would need a return on equity of about 16% a year; our estimate uses 14%.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 30 to Oct 30, 252 sessions). Beta = how much ING moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Swings more than the market, and its own price swings are 2.2× the S&P 500’s.
- Beta vs S&P 500
- 1.36
- Volatility
- 28% vs 13% SPY
- Correlation SPY
- 0.62
- Correlation QQQ
- 0.53
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 5 of 5
Cash returnsDividend yield of 4.6% ($4.4B paid over 12 months, 47% of earnings).
GrowthSales grew 22% to $28.8B over the last 12 months vs the 12 months before (SEC filings).
ValuationP/E of 10.1× vs a 13.5× median for the 151 Finance companies we cover.
ProfitabilityReturn on equity of 16% over the last 12 months, up 8 points in two years.
QualityPasses all four of our quality checks: cash generation, returns on capital, growth and balance sheet.
Top bearish points 2 of 5
ValuationOur residual-income fair value estimate is $27.77, 12% below the price.
GrowthSales shrank 5% a year from FY2022 to FY2025.
Who’s talking about it
Notable investors, executives, analysts and public figures on ING Group in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 1, 9:09 PM ET.
Compare with peers
Closest in size in Commercial Banks
All fundamentals
P/E 10.1 · ROE 16% · Sales +22%
Valuation
- P/E
- 10.1×Finance median 13.5×
- Price / FCF
- n/acash flow isn't a clean measure for a bank
- FCF yield
- n/acash flow isn't a clean measure for a bank
- EV / EBITDA
- n/anot meaningful for a bank
- Price / sales
- 3.26×
- Price / book
- 1.55×
- Market cap
- $94.1Bprice × diluted shares
- Enterprise value
- n/anot reported in its SEC filings
Growth
- Revenue, 12 months
- $28.8B
- Sales growth, 12 months
- +21.8%vs the 12 months before
- Sales growth, 3 yrs
- −5.5%/yrfrom FY2022
- Diluted EPS, 12 months
- $2.78
- EPS growth, last FY
- +68.5%
- Net income, 12 months
- $9.3B
- Net income growth
- +56%12 months vs before
Profitability
- Gross margin
- n/anot meaningful for a bank
- Operating margin
- n/an/m
- Net margin
- 32.4%
- FCF margin
- −26.2%
- Return on equity
- 16%
- Return on invested capital
- n/anot meaningful for a bank
Balance sheet
- Cash & short-term inv.
- $60.8B
- Total debt
- n/anot reported in its SEC filings
- Net cash
- n/anot meaningful for a bank
- Debt / equity
- n/adeposits/float make debt/equity not comparable for a bank
- Interest coverage
- n/anot meaningful for a bank
Cash flow & returns
- Free cash flow, 12 months
- −$7.6B
- FCF growth, 12 months
- n/anot reported in its SEC filings
- Dividend yield
- 4.64%$4.4B paid
- Payout ratio
- 47%
- Buybacks, 12 months
- $4.2B4.4% of market cap
- Share count, 1 year
- n/ano quarterly diluted share count
- Stock-based comp
- n/anot reported in its SEC filings
Trailing 12 months to Dec 31, 2025; balance sheet at Dec 31, 2025. From ING Group’s SEC filings, reported in EUR and converted to US dollars. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
Valuation details
DCF $27.77
Financials model (residual income): book value $20.40 a share on Jun 30, 2026, converted from EUR at 1.123, plus the earnings above a 9.5% cost of equity. ROE 13.8%, the average of 14.2% for the trailing 12 months to Jun 30, 2026 and 13.4% over fiscal 2021–2025, on average common equity; payout 95% of earnings (dividends 51% + net buybacks 45%), so book grows by the retained rest; the return above 9.5% fades halfway toward 9.5% over 10 years, then grows at 3% (terminal value). From the 6-K filed Jul 30, 2026.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. We watch it daily for our three reversal signal rules while it sits in a dip.
Momentum & 52-week range
RSI 32 · 5 days −1.2%
The business
FCF $-2.2B · Sales +10%
- Free cash flow, 12 months−$2.2B
- Free-cash-flow yield−2.4%
- Return on equity13%
- Sales growth (latest quarter vs year-ago quarter)+10%
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.
Get a text when ING fires a reversal signal
One text when a published rule fires on ING or any of the 333 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.