ING Groep N.V. (ING) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 21, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Feb 26, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ING SEC filings page.
ING Groep N.V. (ING) reported $30.1B in revenue for fiscal year 2025, up 38.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 4 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of ING Groep N.V.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
ING Groep N.V. earned a return on assets of 0.8% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is up from 0.5% the prior year. Earnings ranks banks on that return over three years, and ING Groep N.V. scores 32/100 among other banks.
ING Groep N.V. reported revenue of $30.1B in fiscal year 2025, against $21.8B in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and ING Groep N.V. scores 81/100 among other banks.
ING Groep N.V. funded 5.1% of its assets with shareholders' equity at the end of fiscal year 2025, holding $63.5B of equity against $1.2T of assets. Capital ranks banks on that cushion, and ING Groep N.V. scores 4/100 among other banks.
Not available for ING Groep N.V., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Not available for ING Groep N.V., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
ING Groep N.V. reported net income of $9.8B in fiscal year 2025, against $5.5B in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and ING Groep N.V. scores 38/100 among other banks.
ING Groep N.V. passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) passes.
ING Groep N.V. earns $0.71 in operating income for every $1 of interest expense ($30.1B vs $42.7B). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
ING Groep N.V. generated $30.1B in revenue in fiscal year 2025. This represents an increase of 38.1% from the prior year.
ING Groep N.V.'s EBITDA was $30.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 37.3% from the prior year.
ING Groep N.V. reported $9.8B in net income in fiscal year 2025. This represents an increase of 76.9% from the prior year.
ING Groep N.V. earned $3.26 per diluted share (EPS) in fiscal year 2025. This represents an increase of 91.0% from the prior year.
Cash & Balance Sheet
ING Groep N.V. recorded an outflow of $7.9B in free cash flow in fiscal year 2025, representing a cash shortfall after capex. The change from the prior year is not meaningful, because that figure was zero or negative.
ING Groep N.V. held $63.5B in cash as of fiscal year 2025; no long-term debt figure is on record for that period.
Not reported for fiscal year 2025.
Margins & Returns
ING Groep N.V.'s operating margin was 100.0% in fiscal year 2025, reflecting core business profitability. That is unchanged from the prior year.
ING Groep N.V.'s net profit margin was 32.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.1 percentage points from the prior year.
ING Groep N.V.'s ROE was 15.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 5.3 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
ING Groep N.V. spent $75.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 68.8% from the prior year.
ING Groep N.V. invested $411.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 19.9% from the prior year.
Not reported for fiscal year 2025.
ING Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $30.1B+38.1% | $21.8B+8.9% | $20.0B-38.4% | $32.5B+43.1% | $22.7B+7.9% | $21.1B+9.6% | $19.2B-8.4% | $21.0B-6.1% | $22.3B+18.3% | $18.9B-3.4% | $19.6B |
| Operating Income | $30.1B+38.1% | $21.8B+8.9% | $20.0B-38.4% | $32.5B+43.1% | $22.7B+7.9% | $21.1B+9.6% | $19.2B-8.4% | $21.0B | N/A | N/A | N/A |
| EBITDA | $30.9B+37.3% | $22.5B+8.3% | $20.8B-37.6% | $33.3B+40.6% | $23.7B+7.3% | $22.1B+9.8% | $20.1B-6.8% | $21.6B | N/A | N/A | N/A |
| Interest Expense | $42.7B-6.0% | $45.4B+13.3% | $40.1B+171.9% | $14.7B+84.7% | $8.0B-27.6% | $11.0B-31.6% | $16.1B-0.7% | $16.2B-55.5% | $36.5B+11.8% | $32.6B-10.9% | $36.7B |
| Income Tax | $3.7B+65.9% | $2.3B+22.8% | $1.8B-66.5% | $5.5B+110.3% | $2.6B+99.4% | $1.3B-29.4% | $1.9B-23.5% | $2.4B-20.6% | $3.1B+69.7% | $1.8B-13.9% | $2.1B |
| Net Income | $9.8B+76.9% | $5.5B+20.6% | $4.6B-64.7% | $13.0B+92.6% | $6.7B+144.8% | $2.8B-37.2% | $4.4B-19.7% | $5.5B-17.0% | $6.6B+25.1% | $5.2B-1.9% | $5.3B |
| EPS (Basic) | $3.26+91.0% | $1.71+33.1% | $1.28-64.2% | $3.58+107.0% | $1.73+144.1% | $0.71-36.8% | $1.12-19.7% | $1.40-17.6% | $1.70+25.5% | $1.35-2.8% | $1.39 |
| EPS (Diluted) | $3.26+91.0% | $1.71+33.1% | $1.28-64.2% | $3.58+107.0% | $1.73+144.1% | $0.71-36.8% | $1.12-19.7% | $1.40-17.6% | $1.70+25.5% | $1.35-2.1% | $1.38 |
| Diluted Shares (Avg) | 2.99B-7.4% | 3.23B-9.4% | 3.57B-1.6% | 3.62B-6.8% | 3.89B-0.3% | 3.90B+0.1% | 3.90B+0.1% | 3.89B+0.1% | 3.89B+0.2% | 3.88B+0.2% | 3.87B |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses.
ING Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2T+17.4% | $1.1T-2.3% | $1.1T+3.8% | $1.0T-2.7% | $1.1T-5.9% | $1.1T+14.5% | $997.5B-1.6% | $1.0T-0.1% | $1.0T+14.2% | $888.7B-18.3% | $1.1T |
| Cash & Equivalents | $63.5B-11.1% | $71.5B-30.5% | $102.9B+0.8% | $102.0B-16.3% | $121.9B-10.7% | $136.4B+124.9% | $60.7B+11.4% | $54.4B+138.7% | $22.8B+33.8% | $17.1B-22.9% | $22.1B |
| Goodwill | $1.8B+28.3% | $1.4B+4.2% | $1.3B+12.4% | $1.2B-9.9% | $1.3B-23.3% | $1.7B-20.7% | $2.2B+2.1% | $2.1B+19.3% | $1.8B+12.8% | $1.6B-8.0% | $1.7B |
| Total Liabilities | $1.2T+17.5% | $1.0T-1.8% | $1.0T+3.9% | $984.0B-3.0% | $1.0T-5.9% | $1.1T+14.7% | $939.3B-1.8% | $956.3B+0.1% | $955.4B+14.0% | $838.2B-19.4% | $1.0T |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | $23.7B | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $63.5B+16.3% | $54.6B-9.8% | $60.5B+0.1% | $60.4B+2.6% | $58.9B-6.7% | $63.1B+10.3% | $57.3B+1.9% | $56.2B-3.5% | $58.2B+16.8% | $49.9B+2.1% | $48.8B |
| Retained Earnings | $47.0B+25.2% | $37.5B-15.8% | $44.6B+0.3% | $44.4B+10.7% | $40.1B+2.1% | $39.3B+17.3% | $33.5B+3.3% | $32.5B-0.1% | $32.5B+26.3% | $25.7B+6.5% | $24.1B |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities.
ING Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$7.5Bn/m | -$23.3Bn/m | -$12.5Bn/m | -$11.9Bn/m | -$16.9B-113.7% | $123.8B+744.8% | $14.7B+85.0% | $7.9Bn/m | -$6.3B-170.0% | $9.0B-21.4% | $11.5B |
| Depreciation & Amortization | $780.4M+12.0% | $696.6M-6.6% | $745.6M-2.0% | $760.6M-19.4% | $943.9M-6.9% | $1.0B+14.5% | $885.8M+48.7% | $595.7M-4.7% | $625.1M+10.5% | $565.6M-17.8% | $688.5M |
| Capital Expenditures | $411.9M+19.9% | $343.7M+26.3% | $272.1M+10.1% | $247.1M+18.7% | $208.3M-40.7% | $351.0M-11.9% | $398.6M+21.6% | $327.6M-10.4% | $365.5M-16.5% | $437.9M+14.2% | $383.3M |
| Free Cash Flow | -$7.9Bn/m | -$23.7Bn/m | -$12.8Bn/m | -$12.1Bn/m | -$17.1B-113.9% | $123.5B+765.9% | $14.3B+87.8% | $7.6Bn/m | -$6.7B-177.8% | $8.6B-22.7% | $11.1B |
| Investing Cash Flow | -$18.4Bn/m | -$6.2Bn/m | -$9.5Bn/m | -$5.7B-180.6% | $7.0Bn/m | -$10.4Bn/m | -$2.8B-144.9% | $6.2B-55.8% | $14.1B+118.3% | $6.5B+42.1% | $4.6B |
| Financing Cash Flow | $9.7B+74.0% | $5.6B-72.7% | $20.4B+309.3% | $5.0B-18.4% | $6.1Bn/m | -$42.6Bn/m | -$4.7B-125.5% | $18.3Bn/m | -$4.7Bn/m | -$20.1Bn/m | -$12.1B |
| Dividends Paid | N/A | $4.0B+22.3% | $3.3B-0.8% | $3.3B+22.7% | $2.7B+73379.1% | $3.7M-99.9% | $3.0B+0.7% | $3.0B-3.1% | $3.1B+15.9% | $2.7B+75.9% | $1.5B |
| Share Buybacks | $75.1M+68.8% | $44.5M-4.2% | $46.5M-97.3% | $1.7B-14.3% | $2.0B | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Stock-Based Compensation.
ING Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 100.0%0.0pp | 100.0%0.0pp | 100.0%0.0pp | 100.0%0.0pp | 100.0%0.0pp | 100.0%0.0pp | 100.0%0.0pp | 100.0% | N/A | N/A | N/A |
| Net Margin | 32.4%+7.1pp | 25.3%+2.4pp | 22.9%-17.0pp | 39.9%+10.2pp | 29.6%+16.6pp | 13.1%-9.7pp | 22.8%-3.2pp | 26.0%-3.4pp | 29.4%+1.6pp | 27.8%+0.4pp | 27.4% |
| Return on Equity | 15.4%+5.3pp | 10.1%+2.5pp | 7.6%-13.9pp | 21.5%+10.0pp | 11.4%+7.1pp | 4.4%-3.3pp | 7.6%-2.1pp | 9.7%-1.6pp | 11.3%+0.7pp | 10.5%-0.4pp | 10.9% |
| Return on Assets | 0.8%+0.3pp | 0.5%+0.1pp | 0.4%-0.8pp | 1.2%+0.6pp | 0.6%+0.4pp | 0.2%-0.2pp | 0.4%-0.1pp | 0.5%-0.1pp | 0.7%+0.1pp | 0.6%+0.1pp | 0.5% |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | 0.38 | N/A | N/A | N/A | N/A | N/A |
| Liabilities-to-Equity | 18.58+0.2x | 18.41+1.5x | 16.91+0.6x | 16.28-0.9x | 17.22+0.1x | 17.07+0.7x | 16.41-0.6x | 17.02+0.6x | 16.41-0.4x | 16.81-4.5x | 21.29 |
| Asset Turnover | 0.020.0x | 0.020.0x | 0.020.0x | 0.030.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.02 |
| FCF Margin | -26.2% | -108.5% | -63.9%-26.6pp | -37.3%+38.0pp | -75.3% | 586.0% | 74.2%+38.0pp | 36.2%+66.1pp | -29.9%-75.4pp | 45.5%-11.3pp | 56.8% |
Not reported in any period shown, so not listed: Gross Margin, Current Ratio.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| ING Groep N.V. ING | FY2025 | $30.1B | $9.8B | 32.4% | $94.9B | 39/100 |
| Barclays PLC BCS | FY2025 | $14.9B | $9.6B | 64.5% | $75.3B | 38/100 |
| Bank of Nova Scotia BNS | FY2025 | $26.9B | $5.6B | 20.6% | $114.4B | 38/100 |
| Canadian Imperial Bank of Commerce CM | FY2025 | $20.8B | $6.0B | 28.9% | $104.4B | 43/100 |
| Bank of Montreal BMO | FY2025 | $25.9B | $6.2B | 24.0% | $118.5B | 34/100 |
Where ING Groep N.V. Ranks
Frequently Asked Questions
What is ING Groep N.V.'s annual revenue?
ING Groep N.V. (ING) reported $30.1B in total revenue for fiscal year 2025. This represents a 38.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is ING Groep N.V.'s revenue growing?
ING Groep N.V. (ING) revenue grew by 38.1% year-over-year, from $21.8B to $30.1B in fiscal year 2025.
Is ING Groep N.V. profitable?
Yes, ING Groep N.V. (ING) reported a net income of $9.8B in fiscal year 2025, with a net profit margin of 32.4%.
What is ING Groep N.V.'s EBITDA?
ING Groep N.V. (ING) had EBITDA of $30.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is ING Groep N.V.'s operating margin?
ING Groep N.V. (ING) had an operating margin of 100.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is ING Groep N.V.'s net profit margin?
ING Groep N.V. (ING) had a net profit margin of 32.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is ING Groep N.V.'s return on equity (ROE)?
ING Groep N.V. (ING) has a return on equity of 15.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is ING Groep N.V.'s free cash flow?
ING Groep N.V. (ING) recorded an outflow of $7.9B in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is ING Groep N.V.'s operating cash flow?
ING Groep N.V. (ING) recorded an outflow of $7.5B in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are ING Groep N.V.'s total assets?
ING Groep N.V. (ING) had $1.2T in total assets as of fiscal year 2025, including both current and long-term assets.
What are ING Groep N.V.'s capital expenditures?
ING Groep N.V. (ING) invested $411.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is ING Groep N.V.'s liabilities-to-equity ratio?
ING Groep N.V. (ING) had a liabilities-to-equity ratio of 18.58 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
What is ING Groep N.V.'s return on assets (ROA)?
ING Groep N.V. (ING) had a return on assets of 0.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is ING Groep N.V.'s P/E ratio?
ING Groep N.V. (ING) trades at 9.7x earnings, its market capitalization divided by $9.8B net income, FY2025. The market capitalization is $94.9B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is ING Groep N.V.'s price-to-sales ratio?
ING Groep N.V. (ING) trades at 3.2x sales, its market capitalization divided by $30.1B revenue, FY2025. The market capitalization is $94.9B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is ING Groep N.V.'s Piotroski F-Score?
ING Groep N.V. (ING) has a Piotroski F-Score of 4 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Can ING Groep N.V. cover its interest payments?
ING Groep N.V. (ING) has an interest coverage ratio of 0.71x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is ING Groep N.V.?
ING Groep N.V. (ING) scores 39 out of 100 on our Financial Health Score, indicating weak standing within its banks peer group. The score is the average of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For ING Groep N.V. it averages the 4 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.