ING Groep N.V.

LSE:0RIC Stock Report

Market Cap: €45.8b

ING Groep Valuation

Is 0RIC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • 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 0RIC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0RIC (€14.66) is trading below our estimate of fair value (€40.2)

Significantly Below Fair Value: 0RIC is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0RIC?

Key metric: As 0RIC is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0RIC. This is calculated by dividing 0RIC's market cap by their current earnings.
What is 0RIC's PE Ratio?
PE Ratio12.6x
Earnings€3.65b
Market Cap€45.84b

Price to Earnings Ratio vs Peers

How does 0RIC's PE Ratio compare to its peers?

The above table shows the PE ratio for 0RIC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.7x
BARC Barclays
9x10.8%UK£38.1b
LLOY Lloyds Banking Group
7.2x4.2%UK£32.1b
NWG NatWest Group
7.2x0.3%UK£32.3b
STAN Standard Chartered
7.4x5.2%UK£23.4b
0RIC ING Groep
12.6x8.8%€45.8b

Price-To-Earnings vs Peers: 0RIC is expensive based on its Price-To-Earnings Ratio (12.6x) compared to the peer average (7.7x).

Price to Earnings Ratio vs Industry

How does 0RIC's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
0RIC 12.6xIndustry Avg. 7.3xNo. of Companies46PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0RIC is expensive based on its Price-To-Earnings Ratio (12.6x) compared to the European Banks industry average (7.3x).

Price to Earnings Ratio vs Fair Ratio

What is 0RIC'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.

0RIC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.6x
Fair PE Ratio6.7x

Price-To-Earnings vs Fair Ratio: 0RIC is expensive based on its Price-To-Earnings Ratio (12.6x) compared to the estimated Fair Price-To-Earnings Ratio (6.7x).

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 0RIC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€14.66
€18.48
+26.1%
9.1%€22.50€16.00n/a19
Nov ’25€15.72
€18.61
+18.3%
8.9%€22.50€16.00n/a19
Oct ’25€16.20
€19.06
+17.6%
8.6%€22.50€16.00n/a20
Sep ’25€16.39
€18.73
+14.2%
8.0%€21.00€16.00n/a20
Aug ’25€16.46
€18.65
+13.3%
7.8%€21.18€16.00n/a20
Jul ’25€16.30
€18.28
+12.1%
8.9%€21.18€16.00n/a20
Jun ’25€16.48
€17.38
+5.5%
8.2%€20.21€14.80n/a19
May ’25€14.86
€16.46
+10.7%
9.0%€19.24€13.00n/a20
Apr ’25€15.20
€15.93
+4.8%
9.8%€19.10€13.00n/a20
Mar ’25€12.71
€15.39
+21.1%
10.0%€19.10€12.50n/a21
Feb ’25€12.26
€16.07
+31.1%
9.9%€19.10€12.50n/a22
Jan ’25€13.54
€16.51
+21.9%
10.4%€20.10€12.50n/a22
Dec ’24€12.90
€16.46
+27.6%
10.5%€20.10€12.50€14.6622
Nov ’24€12.03
€16.65
+38.4%
10.8%€20.10€12.50€15.7222
Oct ’24€12.59
€16.62
+32.1%
11.3%€20.10€12.50€16.2022
Sep ’24€13.04
€16.38
+25.6%
12.4%€20.10€12.50€16.3923
Aug ’24€13.28
€15.80
+19.0%
10.8%€18.10€12.50€16.4622
Jul ’24€12.38
€15.55
+25.6%
10.6%€18.10€12.50€16.3020
Jun ’24€11.66
€15.40
+32.1%
11.3%€18.10€12.00€16.4821
May ’24€11.13
€15.17
+36.2%
10.7%€17.50€12.00€14.8621
Apr ’24€10.93
€15.20
+39.0%
10.9%€17.60€12.00€15.2021
Mar ’24€13.32
€15.15
+13.7%
10.6%€17.60€12.00€12.7121
Feb ’24€13.30
€14.75
+10.9%
11.1%€17.00€12.00€12.2621
Jan ’24€11.47
€14.32
+24.8%
13.0%€17.00€10.00€13.5422
Dec ’23€11.52
€14.21
+23.4%
13.3%€17.00€10.00€12.9022

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

Discover undervalued companies

Banco Santander

€66.6b

Provides various financial services worldwide.

BNC

€3.65

7D

-0.5%

1Y

11.6%

Secure Trust Bank

UK£70.4m

Provides banking and financial products and services in the United Kingdom.

STBL

UK£3.73

7D

4.2%

1Y

-42.6%

UniCredit

€56.0b

Provides commercial banking services in Italy, Germany, Central Europe, and Eastern Europe.

0RLS

€36.39

7D

-3.7%

1Y

45.0%