ENXTAM:INGA

Stock Analysis Report

Executive Summary

ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates.

Snowflake

Fundamentals

Excellent balance sheet, good value and pays a dividend.


Similar Companies

Share Price & News

How has ING Groep's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

3.3%

INGA

1.7%

NL Banks

-0.2%

NL Market


1 Year Return

-3.7%

INGA

-3.5%

NL Banks

5.1%

NL Market

Return vs Industry: INGA matched the Dutch Banks industry which returned -3.5% over the past year.

Return vs Market: INGA underperformed the Dutch Market which returned 5.1% over the past year.


Shareholder returns

INGAIndustryMarket
7 Day3.3%1.7%-0.2%
30 Day4.4%1.5%-1.1%
90 Day0.9%0.2%-2.1%
1 Year2.7%-3.7%2.0%-3.5%9.7%5.1%
3 Year0.8%-13.8%10.2%-6.3%39.6%24.1%
5 Year14.6%-10.0%-12.8%-33.9%66.1%32.6%

Price Volatility Vs. Market

How volatile is ING Groep's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is ING Groep undervalued compared to its fair value and its price relative to the market?

40.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: INGA (€10.16) is trading below our estimate of fair value (€16.94)

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


Price To Earnings Ratio

PE vs Industry: INGA is good value based on its PE Ratio (8.5x) compared to the Banks industry average (9.4x).

PE vs Market: INGA is good value based on its PE Ratio (8.5x) compared to the Dutch market (19.3x).


Price to Earnings Growth Ratio

PEG Ratio: INGA is poor value based on its PEG Ratio (13x)


Price to Book Ratio

PB vs Industry: INGA is overvalued based on its PB Ratio (0.8x) compared to the XE Banks industry average (0.7x).


Next Steps

Future Growth

How is ING Groep forecast to perform in the next 1 to 3 years based on estimates from 21 analysts?

0.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: INGA's forecast earnings growth (0.7% per year) is above the savings rate (0.4%).

Earnings vs Market: INGA's earnings (0.7% per year) are forecast to grow slower than the Dutch market (12.1% per year).

High Growth Earnings: INGA's earnings are forecast to grow, but not significantly.

Revenue vs Market: INGA's revenue (1.6% per year) is forecast to grow slower than the Dutch market (6% per year).

High Growth Revenue: INGA's revenue (1.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: INGA's Return on Equity is forecast to be low in 3 years time (9%).


Next Steps

Past Performance

How has ING Groep performed over the past 5 years?

12.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: INGA's earnings have grown by 12.1% per year over the past 5 years.

Accelerating Growth: INGA's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: INGA had negative earnings growth (-16.8%) over the past year, making it difficult to compare to the Banks industry average (5.7%).


Return on Equity

High ROE: INGA's Return on Equity (8.9%) is considered low.


Return on Assets

ROA vs Industry: INGA's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate INGA's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is ING Groep's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: INGA has a low level of unsold assets or inventory.

Debt Coverage by Assets: INGA's debt is not covered by short term assets (assets are 0.8x debt).


Financial Institutions Analysis

Asset Level: INGA's level of assets compared to its equity is moderate.

Allowance for Bad Loans: INGA has a low allowance for bad loans.

Low Risk Liabilities: INGA's liabilities are made up of primarily low risk sources of funding.

Loan Level: INGA has an acceptable proportion of non-loan assets held.

Low Risk Deposits: INGA's loans are broadly funded by customer deposits.

Level of Bad Loans: INGA has an appropriate level of bad loans (1.61%)


Next Steps

Dividend

What is ING Groep's current dividend yield, its reliability and sustainability?

6.69%

Current Dividend Yield


Dividend Yield vs Market

company6.7%marketbottom25%2.2%markettop25%6.0%industryaverage6.0%forecastin3Years6.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: INGA's dividend (6.69%) is higher than the bottom 25% of dividend payers in the Dutch market (2.23%).

High Dividend: INGA's dividend (6.69%) is in the top 25% of dividend payers in the Dutch market (5.97%)

Stable Dividend: INGA has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: INGA's dividend payments have increased, but the company has only paid a dividend for 4 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (56.8%), INGA's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: INGA's dividends in 3 years are forecast to be covered by earnings (53.3% payout ratio).


Next Steps

Management

What is the CEO of ING Groep's salary, the management and board of directors tenure and is there insider trading?

3.9yrs

Average management tenure


CEO

Ralph A. J. Hamers (53yo)

6yrs

Tenure

€2,311,000

Compensation

Mr. Ralph A. J. G. Hamers has been Head of Market Leaders since July 2019 and has been the Chairman of Executive Board and Group Chief Executive Officer at ING Groep N.V. since October 1, 2013 and Member o ...


CEO Compensation Analysis

Compensation vs. Market: Ralph A. J.'s total compensation ($USD2.57M) is about average for companies of similar size in the Dutch market ($USD3.94M).

Compensation vs Earnings: Ralph A. J.'s compensation has been consistent with company performance over the past year.


Management Age and Tenure

3.9yrs

Average Tenure

53.5yo

Average Age

Experienced Management: INGA's management team is considered experienced (3.9 years average tenure).


Board Age and Tenure

3.3yrs

Average Tenure

63yo

Average Age

Experienced Board: INGA's board of directors are considered experienced (3.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Sell€31,29127 Mar 19
Steven J. van Rijswijk
EntityIndividual
Role
Member of Management Board
Chief Risk Officer
Shares4,883
Max Price€10.55

Ownership Breakdown


Management Team

  • Peter Jong

    Global Head of Communications

    • Tenure: 0yrs
  • Tanate Phutrakul (54yo)

    CFO & Member of Executive Board

    • Tenure: 0.7yrs
  • Ricardo Zemella

    Co-Head of Global Debt Syndicate

    • Tenure: 0yrs
  • Michael Baudo

    Co-Head of Global Securities Finance Business

    • Tenure: 0yrs
  • Ralph A. J. Hamers (53yo)

    Chairman of the Executive Board

    • Tenure: 6yrs
    • Compensation: €2.31m
  • Rob Veldhuizen

    Head of Corporate Finance Benelux

    • Tenure: 0yrs
  • Roel M. Louwhoff (54yo)

    COO, Chief Transformation Officer & Member of Mgmt. Board Banking

    • Tenure: 5.4yrs
  • Cornelis Blokbergen

    Head of Legal Department

    • Tenure: 0yrs
  • Steven J. van Rijswijk (49yo)

    Chief Risk Officer

    • Tenure: 2.4yrs
    • Compensation: €1.57m
  • Mark Milders

    Head of Investor Relations

    • Tenure: 0yrs

Board Members

  • Rod Martin (67yo)

    Chairman of ING US and Chief Executive of ING US

    • Tenure: 0yrs
  • Hermann-Josef Lamberti (63yo)

    Vice Chairman of the Supervisory Board

    • Tenure: 4.8yrs
    • Compensation: €139.00k
  • Eric F. C. B. de la Giroday (67yo)

    Member of the Supervisory Board

    • Tenure: 5.4yrs
    • Compensation: €108.00k
  • Hans Wijers (68yo)

    Chairman of Supervisory Board

    • Tenure: 1.5yrs
    • Compensation: €185.00k
  • Mariana Gheorghe (63yo)

    Member of the Supervisory Board

    • Tenure: 4.4yrs
    • Compensation: €105.00k
  • Nick Jue (54yo)

    Chairman of ING Netherlands and Chief Executive Officer of ING Germany

    • Tenure: 0yrs
  • Mike Rees (63yo)

    Member of Supervisory Board

    • Tenure: 0.5yrs
  • Margarete Haase (66yo)

    Member of the Supervisory Board

    • Tenure: 1.4yrs
    • Compensation: €63.00k
  • Robert W. Reibestein (63yo)

    Member of the Supervisory Board

    • Tenure: 6.8yrs
    • Compensation: €138.00k
  • Jan Balkenende (63yo)

    Member of the Supervisory Board

    • Tenure: 2.1yrs
    • Compensation: €99.00k

Company Information

ING Groep N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: ING Groep N.V.
  • Ticker: INGA
  • Exchange: ENXTAM
  • Founded: 1991
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €39.590b
  • Shares outstanding: 3.90b
  • Website: https://www.ing.com

Number of Employees


Location

  • ING Groep N.V.
  • Amsterdamse Poort
  • Bijlmerplein 888
  • Amsterdam
  • Noord-Holland
  • 1102 MG
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
INGAABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURMar 1991
INGAENXTAM (Euronext Amsterdam)YesOrdinary SharesNLEURMar 1991
INGASWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFMar 1991
INN1XTRA (XETRA Trading Platform)YesOrdinary SharesDEEURMar 1991
INGV.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMar 1991
INGAWBAG (Wiener Boerse AG)YesOrdinary SharesATEURMar 1991
INGABIT (Borsa Italiana)CERTIFICAAT VAN AANDEEL EUR0.24ITEURJan 1992
0RICLSE (London Stock Exchange)CERTIFICAAT VAN AANDEEL EUR0.24GBEURJan 1992
INGNYSE (New York Stock Exchange)SPONS ADR-EACH REPR 1 ORD EUR0.24(MGT)USUSDSep 1995
INNADB (Deutsche Boerse AG)SPONS ADR-EACH REPR 1 ORD EUR0.24(MGT)DEEURSep 1995
ING NBMV (Bolsa Mexicana de Valores)SPONS ADR-EACH REPR 1 ORD EUR0.24(MGT)MXMXNSep 1995
INNAXTRA (XETRA Trading Platform)SPONS ADR-EACH REPR 1 ORD EUR0.24(MGT)DEEURSep 1995
0A2KLSE (London Stock Exchange)SPONS ADR-EACH REPR 1 ORD EUR0.24(MGT)GBUSDSep 1995

Biography

ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Bel ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/20 21:33
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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 here.