ING Groep N.V.

OTCPK:INGV.F Stock Report

Market Cap: US$48.1b

ING Groep Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: INGV.F ($15.09) is trading below our estimate of fair value ($39.85)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for INGV.F?

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

The above table shows the Price to Earnings ratio for INGV.F. This is calculated by dividing INGV.F's market cap by their current earnings.
What is INGV.F's PE Ratio?
PE Ratio12.5x
Earnings€3.65b
Market Cap€45.51b

Price to Earnings Ratio vs Peers

How does INGV.F's PE Ratio compare to its peers?

The above table shows the PE ratio for INGV.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.5x
FITB Fifth Third Bancorp
15.6x8.3%US$32.4b
PNC PNC Financial Services Group
18x12.9%US$85.0b
USB U.S. Bancorp
16.4x11.3%US$83.7b
C Citigroup
20x30.4%US$133.1b
INGV.F ING Groep
12.5x8.8%US$45.5b

Price-To-Earnings vs Peers: INGV.F is good value based on its Price-To-Earnings Ratio (12.5x) compared to the peer average (17.5x).

Price to Earnings Ratio vs Industry

How does INGV.F's PE Ratio compare vs other companies in the US Banks Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
FRCB First Republic Bank
0.02xn/aUS$27.98m
BKGM BankGuam Holding
1xn/aUS$18.48m
SBNY Signature Bank
0.002xn/aUS$2.18m
BCBH.F Caribbean Investment Holdings
0.00001xn/aUS$132.00
No more companies available in this PE range
INGV.F 12.5xIndustry Avg. 13.3xNo. of Companies94PE0816243240+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: INGV.F is good value based on its Price-To-Earnings Ratio (12.5x) compared to the US Banks industry average (13.3x).

Price to Earnings Ratio vs Fair Ratio

What is INGV.F'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.

INGV.F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate INGV.F'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 INGV.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$15.09
US$19.52
+29.4%
9.1%US$23.77US$16.90n/a19
Nov ’25US$16.99
US$20.16
+18.7%
8.9%US$24.38US$17.34n/a19
Oct ’25US$17.90
US$21.10
+17.9%
8.6%US$24.91US$17.71n/a20
Sep ’25US$17.60
US$20.74
+17.8%
8.0%US$23.26US$17.72n/a20
Aug ’25US$18.00
US$20.13
+11.8%
7.8%US$22.86US$17.27n/a20
Jul ’25US$16.65
US$19.63
+17.9%
8.9%US$22.74US$17.18n/a20
Jun ’25US$17.66
US$18.77
+6.3%
8.2%US$21.83US$15.98n/a19
May ’25n/a
US$17.57
0%
9.0%US$20.54US$13.88n/a20
Apr ’25US$16.56
US$17.24
+4.1%
9.8%US$20.68US$14.07n/a20
Mar ’25US$13.79
US$16.68
+21.0%
10.0%US$20.70US$13.55n/a21
Feb ’25US$13.45
US$17.47
+29.9%
9.9%US$20.76US$13.59n/a22
Jan ’25n/a
US$18.06
0%
10.4%US$21.98US$13.67n/a22
Dec ’24n/a
US$17.92
0%
10.5%US$21.88US$13.60n/a22
Nov ’24US$12.63
US$17.62
+39.5%
10.8%US$21.27US$13.23US$16.9922
Oct ’24US$13.13
US$17.61
+34.1%
11.3%US$21.29US$13.24US$17.9022
Sep ’24US$14.75
US$17.79
+20.6%
12.4%US$21.84US$13.58US$17.6023
Aug ’24n/a
US$17.58
0%
10.8%US$20.14US$13.91US$18.0022
Jul ’24US$13.49
US$17.08
+26.6%
10.6%US$19.88US$13.73US$16.6520
Jun ’24US$12.30
US$16.51
+34.2%
11.3%US$19.40US$12.86US$17.6621
May ’24US$12.18
US$16.62
+36.4%
10.7%US$19.17US$13.15n/a21
Apr ’24US$11.20
US$16.08
+43.6%
10.9%US$18.62US$12.70US$16.5621
Mar ’24US$13.92
US$16.15
+16.1%
10.6%US$18.77US$12.79US$13.7921
Feb ’24US$14.79
US$16.20
+9.6%
11.1%US$18.68US$13.18US$13.4521
Jan ’24US$12.35
US$15.20
+23.1%
13.0%US$18.04US$10.61n/a22
Dec ’23US$11.81
US$14.67
+24.2%
13.3%US$17.55US$10.32n/a22
Nov ’23US$9.80
US$13.61
+38.8%
11.9%US$16.24US$9.96US$12.6322

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

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