Company Valuation: ING Groep N.V.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 46,613 40,803 45,542 46,932 69,684 73,395 - -
Change - -12.46% 11.61% 3.05% 48.48% 5.33% - -
Enterprise Value (EV) 46,613 40,803 45,542 46,932 69,684 73,395 73,395 73,395
Change - -12.46% 11.61% 3.05% 48.48% 5.33% 0% 0%
P/E ratio 9.95x 11.5x 6.6x 7.64x 11.3x 10.8x 9.25x 8.29x
PBR 0.86x 0.83x 0.88x 0.93x 1.4x 1.44x 1.38x 1.27x
PEG - -0.6x 0x -2.24x 1.6x 0.9x 0.6x 0.7x
Capitalization / Revenue 2.52x 2.2x 2.02x 2.08x 3.03x 3.03x 2.83x 2.67x
EV / Revenue 0x 0x 0x 0x 0x 3.03x 2.83x 2.67x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 6.46x 5.81x 5.34x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.89 0.559 1.106 1.06 1.086 1.258 1.429 1.629
Rate of return 7.27% 4.91% 8.18% 7.01% 4.52% 4.92% 5.59% 6.38%
EPS 2 1.23 0.99 2.05 1.98 2.12 2.37 2.761 3.08
Distribution rate 72.4% 56.5% 54% 53.5% 51.2% 53.1% 51.7% 52.9%
Net sales 1 18,490 18,561 22,575 22,615 23,035 24,207 25,970 27,467
EBITDA - - - - - - - -
EBIT 1 7,299 7,363 11,011 10,494 10,451 11,358 12,631 13,747
Net income 1 4,776 3,674 7,287 6,392 6,327 6,710 7,531 8,232
Net Debt - - - - - - - -
Reference price 2 12.24 11.39 13.53 15.13 24.01 25.55 25.55 25.55
Nbr of stocks (in thousands) 3,807,624 3,583,002 3,367,006 3,101,921 2,902,286 2,872,591 - -
Announcement Date 2/3/22 2/2/23 2/1/24 2/6/25 1/29/26 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.78x - - 4.92% 86.39B
13.53x - - 2.08% 809B
5.84x - - 5.31% 372B
11.47x - - 2.3% 364B
11.18x - - 4.63% 308B
5.79x - - 5.27% 299B
5.89x - - 5.32% 254B
15.93x - - 2.7% 254B
10.85x - - 2.48% 231B
27.32x - - 2.87% 213B
Average 11.86x 3.79% 319.22B
Weighted average by Cap. 11.68x 3.49%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation ING Groep N.V.