ING Groep N.V.

SWX:INGA Stock Report

Market Cap: CHF 63.0b

ING Groep Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

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

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: INGA (CHF22.21) is trading below our estimate of future cash flow value (CHF55.93)

Significantly Below Future Cash Flow Value: INGA is trading below future cash flow value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for INGA. This is calculated by dividing INGA's market cap by their current earnings.
What is INGA's PE Ratio?
PE Ratio8.2x
Earnings€8.32b
Market Cap€68.48b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for INGA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.7x
LLBN Liechtensteinische Landesbank
17.2xn/aCHF 2.9b
BCVN Banque Cantonale Vaudoise
24.4x4.08%CHF 10.5b
GRKP Graubündner Kantonalbank
26.7x1.65%CHF 5.8b
ANZ ANZ Group Holdings
18.5x7.85%AU$109.1b
INGA ING Groep
8.2x-0.66%CHF 68.5b

Price-To-Earnings vs Peers: INGA is good value based on its Price-To-Earnings Ratio (8.2x) compared to the peer average (21.7x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does INGA's PE Ratio compare vs other companies in the European Banks Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
INGA 8.2xIndustry Avg. 11.1xNo. of Companies39PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: INGA is good value based on its Price-To-Earnings Ratio (8.2x) compared to the European Banks industry average (11.1x).

Price to Earnings Ratio vs Fair Ratio

What is INGA'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.

INGA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.2x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate INGA's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

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

The above table shows the analyst INGA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 22.21
CHF 24.84
+11.87%
10.83%CHF 29.54CHF 18.16n/a19
Apr ’27CHF 20.80
CHF 24.84
+19.44%
10.82%CHF 29.70CHF 18.20n/a19
Mar ’27CHF 23.60
CHF 24.50
+3.82%
10.93%CHF 29.43CHF 18.03n/a19
Feb ’27CHF 23.20
CHF 23.60
+1.71%
9.78%CHF 26.59CHF 18.14n/a20
Jan ’27n/a
CHF 21.81
0%
10.83%CHF 25.27CHF 16.38n/a18
Dec ’26n/a
CHF 21.68
0%
10.74%CHF 25.15CHF 16.30n/a18
Nov ’26n/a
CHF 20.99
0%
10.85%CHF 24.58CHF 16.23n/a18
Oct ’26n/a
CHF 20.75
0%
11.65%CHF 24.30CHF 16.35n/a18
Sep ’26n/a
CHF 20.15
0%
10.13%CHF 24.04CHF 16.37n/a18
Aug ’26n/a
CHF 19.78
0%
9.04%CHF 23.03CHF 16.31n/a18
Jul ’26n/a
CHF 18.70
0%
8.99%CHF 21.49CHF 15.89n/a18
Jun ’26n/a
CHF 18.57
0%
9.00%CHF 21.48CHF 15.88n/a17
May ’26n/a
CHF 17.95
0%
10.06%CHF 21.17CHF 14.99n/a18
Apr ’26n/a
CHF 18.36
0%
9.94%CHF 21.55CHF 15.26CHF 20.8018
Mar ’26n/a
CHF 17.33
0%
8.38%CHF 20.65CHF 15.02CHF 23.6018
Feb ’26n/a
CHF 17.28
0%
9.17%CHF 21.27CHF 15.12CHF 23.2018
Jan ’26n/a
CHF 17.25
0%
9.41%CHF 21.17CHF 15.05n/a19
Dec ’25n/a
CHF 17.22
0%
9.09%CHF 20.97CHF 14.91n/a19
Nov ’25n/a
CHF 17.55
0%
8.92%CHF 21.23CHF 15.09n/a19
Oct ’25n/a
CHF 17.85
0%
8.58%CHF 21.08CHF 14.99n/a20
Sep ’25n/a
CHF 17.57
0%
8.04%CHF 19.70CHF 15.01n/a20
Aug ’25CHF 13.76
CHF 17.58
+27.81%
7.82%CHF 19.97CHF 15.08n/a20
Jul ’25CHF 13.76
CHF 17.53
+27.39%
8.89%CHF 20.31CHF 15.34n/a20
Jun ’25CHF 13.76
CHF 17.15
+24.63%
8.16%CHF 19.94CHF 14.60n/a19
May ’25CHF 13.76
CHF 16.15
+17.38%
8.98%CHF 18.88CHF 12.76n/a20
Apr ’25CHF 13.76
CHF 15.60
+13.39%
9.79%CHF 18.71CHF 12.73n/a20
CHF 25.21
Fair Value
11.9% undervalued intrinsic discount
19
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/04/26 03:37
End of Day Share Price 2026/04/24 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

ING Groep N.V. is covered by 35 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Javier Esteban LarioBanco de Sabadell. S.A.
null nullBanco de Sabadell. S.A.
Juan Lopez CoboBanco Santander