ING Groep Valuation

Q: What is the Fair Price of INGG34 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

INGG34 (R$89.8) is trading above our estimate of [[fair value]] (R$49)

Is INGG34 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of INGG34 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: INGG34 (R$89.8) is trading above our estimate of fair value (R$49)

Significantly Below Fair Value: INGG34 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for INGG34?

Key metric: As INGG34 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for INGG34. This is calculated by dividing INGG34's market cap by their current earnings.
What is INGG34's PE Ratio?
PE Ratio	12.5x
Earnings	€3.65b
Market Cap	€45.51b

INGG34 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	1.4x

Price to Earnings Ratio vs Peers

How does INGG34's PE Ratio compare to its peers?

The above table shows the PE ratio for INGG34 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	7.6x
ITUB4 Itaú Unibanco Holding	8.6x	12.1%	R$316.7b
BBDC4 Banco Bradesco	9.7x	30.0%	R$136.5b
ITSA4 Itaúsa	7.4x	12.1%	R$107.7b
BBAS3 Banco do Brasil	4.6x	10.3%	R$146.5b
INGG34 ING Groep	12.5x	8.8%	R$45.5b

Price-To-Earnings vs Peers: INGG34 is expensive based on its Price-To-Earnings Ratio (12.5x) compared to the peer average (7.6x).

Price to Earnings Ratio vs Industry

How does INGG34's PE Ratio compare vs other companies in the South American Banks Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: INGG34 is expensive based on its Price-To-Earnings Ratio (12.5x) compared to the South American Banks industry average (8.8x).

Price to Earnings Ratio vs Fair Ratio

What is INGG34's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

INGG34 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12.5x
Fair PE Ratio	7.9x

Price-To-Earnings vs Fair Ratio: INGG34 is expensive based on its Price-To-Earnings Ratio (12.5x) compared to the estimated Fair Price-To-Earnings Ratio (7.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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