ING Groep NV (INGVF) 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 Nov 4, 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 INGVF SEC filings page.
ING Groep NV (INGVF) 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 (20-F and 6-K reports).
Financial Health Signals
We do not publish a peer-relative financial health score for ING Groep NV, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
ING Groep NV 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.
Key Financial Metrics
Earnings & Revenue
ING Groep NV generated $30.1B in revenue in fiscal year 2025. This represents an increase of 38.1% from the prior year.
ING Groep NV reported $9.8B in net income in fiscal year 2025. This represents an increase of 76.9% from the prior year.
ING Groep NV earned $3.26 per diluted share (EPS) in fiscal year 2025. This represents an increase of 91.0% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
ING Groep NV 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 NV 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 NV'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 NV'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.
Not reported for fiscal year 2025.
Capital Allocation
ING Groep NV 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 NV 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.
INGVF 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 |
| 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, Operating Income, EBITDA.
INGVF 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.
INGVF 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.
INGVF 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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, Operating 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. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| ING Groep NV INGVF | FY2025 | $30.1B | $9.8B | 32.4% | $92.6B | — |
| Westpac BKG Corp WBKCY | FY2025 | $38.4B | $4.6B | 11.9% | $90.8B | — |
| Barclays PLC BCLYF | FY2025 | $39.2B | $9.6B | 24.6% | $76.7B | — |
| Banco Bilbao V/Argntna SA BBVXF | FY2025 | $43.3B | $12.3B | 28.5% | $140.3B | — |
| Banco Santndr New BCDRF | FY2025 | $68.9B | $16.5B | 24.0% | $171.9B | — |
Where ING Groep NV Ranks
Frequently Asked Questions
ING Groep NV (INGVF) 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.
ING Groep NV (INGVF) revenue grew by 38.1% year-over-year, from $21.8B to $30.1B in fiscal year 2025.
Yes, ING Groep NV (INGVF) reported a net income of $9.8B in fiscal year 2025, with a net profit margin of 32.4%.
ING Groep NV (INGVF) had a net profit margin of 32.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
ING Groep NV (INGVF) has a return on equity of 15.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
ING Groep NV (INGVF) 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.
ING Groep NV (INGVF) recorded an outflow of $7.5B in operating cash flow during fiscal year 2025, representing cash used by core business activities.
ING Groep NV (INGVF) had $1.2T in total assets as of fiscal year 2025, including both current and long-term assets.
ING Groep NV (INGVF) invested $411.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
ING Groep NV (INGVF) 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.
ING Groep NV (INGVF) had a return on assets of 0.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
ING Groep NV (INGVF) trades at 9.5x earnings, its market capitalization divided by $9.8B net income, FY2025. The market capitalization is $92.6B as of Nov 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
ING Groep NV (INGVF) trades at 3.1x sales, its market capitalization divided by $30.1B revenue, FY2025. The market capitalization is $92.6B as of Nov 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
ING Groep NV (INGVF) 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.