ING Groep N.V.
Financial ratios & Valuation

Forward Multiples (2025 – 2027)

202520262027
Price/Earnings ratio
11.089.777.91
Price/Sales ratio
3.923.793.54
Earnings per Share (EPS)
$2.22$2.52$3.11

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
33.0211.9111.1512.187.688.7512.119.9611.196.657.068.75
Price/Sales ratio
2.702.882.983.361.982.281.692.601.41K2.162.041.98
Price/Book Value ratio
0.810.991.041.180.700.770.630.880.820.940.930.70
Price/Cash Flow ratio
3.434.516.06-11.375.223.200.29-3.18-3.70-4.27N/A3.20
Price/Free Cash Flow ratio
3.544.676.32-10.835.453.290.29-3.14-3.62-4.18N/A3.29
Price/Earnings Growth ratio
-0.550.050.722.43-1.935.29-0.250.10-0.650.48-0.61-1.93
Dividend Yield
N/A2.91%4.85%4.28%7.21%6.40%0.01%5.00%7.51%6.11%7.99%7.21%
Profitability Indicator Ratios
Gross Profit Margin
97.40%98.78%100%99.11%99.90%100%100%100%100%100.76%99.92%99.90%
Operating Profit Margin
250.29%238.07%214.02%210.58%113.23%36.79%20.94%36.38%16165.51%N/A17.75%36.79%
Pretax Profit Margin
30.88%36.00%33.95%40.89%37.62%37.33%21.38%37.09%18972.41%46.82%43.22%37.62%
Net Profit Margin
8.17%24.22%26.75%27.59%25.87%26.11%13.94%26.11%12668.96%32.52%30.04%25.87%
Effective Tax Rate
25.84%27.99%27.40%31.37%29.64%28.60%34.56%27.67%31.35%28.30%27.90%28.60%
Return on Assets
0.12%0.47%0.55%0.57%0.53%0.53%0.26%0.50%0.37%0.74%0.64%0.53%
Return On Equity
2.48%8.38%9.34%9.73%9.23%8.89%5.21%8.85%7.36%14.22%12.99%9.23%
Return on Capital Employed
3.87%4.71%4.42%4.44%2.32%1.62%0.71%1.20%0.89%N/A0.38%1.62%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Quick Ratio
5.627.6243.6253.954.07K0.480.740.740.59N/AN/A0.48
Cash ratio
8.599.974.476.09819.450.110.260.260.19N/AN/A0.11
Days of Sales Outstanding
183.54160.24144.31116.4320.8021.0924.2126.9815.93K13.58N/A21.09
Days of Inventory outstanding
N/AN/AN/A-357.38K-3.35MN/AN/AN/AN/AN/AN/A-3.35M
Operating Cycle
183.54160.24N/A-357.26K-3.35MN/AN/AN/AN/A13.58N/A-3.35M
Days of Payables Outstanding
N/A9.36KN/A8.33K1.23KN/AN/AN/AN/AN/AN/AN/A
Cash Conversion Cycle
183.54-9.20KN/A-365.59K-3.35MN/AN/AN/AN/A13.58N/A-3.35M
Debt Ratios
Debt Ratio
0.140.160.150.130.150.130.080.120.120.150.160.15
Debt Equity Ratio
2.862.872.642.222.622.191.652.122.372.903.282.62
Long-term Debt to Capitalization
0.740.740.720.680.720.680.620.680.700.740.760.72
Total Debt to Capitalization
0.740.740.720.680.720.680.620.680.700.740.760.72
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Cash Flow to Debt Ratio
0.080.070.06-0.040.050.111.30-0.13-0.09-0.07N/A0.11
Company Equity Multiplier
19.6917.5916.9716.7817.4116.5819.6617.6419.3919.0320.4517.41
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.780.630.49-0.290.380.715.79-0.81-383.17-0.50N/A0.71
Free Cash Flow / Operating Cash Flow Ratio
0.960.960.951.050.950.970.991.011.021.02N/A0.97
Cash Flow Coverage Ratio
0.080.070.06-0.040.050.111.30-0.13-0.09-0.07N/A0.11
Short Term Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Dividend Payout Ratio
N/A34.73%54.20%52.27%55.43%56.03%0.12%49.87%84.18%40.71%N/A56.03%