Stock fact sheet · data as of
ING Groep N.V. (ING): fair value, margin of safety and Wheel Score
Ticker symbol ING · Financial Services · Banks - Diversified · Netherlands · ADR · Speculative Income
ING is an American depositary share (ADR): the US listing of ING Groep N.V., whose own shares trade on its home exchange. It trades in dollars during US hours; currency moves and the home country's rules also affect it, and the depositary bank charges a small yearly fee.
Is ING undervalued?
ING has a margin of safety of 34%: the stock closed at 32.84 on 5 Nov 2026 against a GLS average fair value of 49.94. 4 of the 7 valuation models that produced a number sit above the price. Our scans treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
The 7 models disagree widely: DDM gives 22.76 while Graham Growth gives 107.86. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files ING under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan. It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for ING
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 29.69 | -10% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 34.44 | +5% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 107.86 | +228% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 43.78 | +33% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 81.27 | +147% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 22.76 | -31% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 29.75 | -9% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -355.41 | -1182% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 22.50 | -31% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is weak: ING passes 3 of the nine Piotroski tests. Our scans drop the stock at the health filter; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is low at 3.7 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are thin or negative - ROIC 2.9%, ROE 12.7%, ROA 0.6% - with debt at 3.41 times equity and negative free cash flow. Debt of 3.41 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is high at 4.71% (payout ratio 0%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.
Institutional ownership scores 1/10, insider activity 5/10 and Congressional trading 10/10 on the GLS smart-money scales; the last recorded Congressional buy was on 11 Sep 2026.
| Piotroski F-score | 3 / 9 | ROIC | 2.9% |
|---|---|---|---|
| GLS Moat | 3.7 / 10 | ROE | 12.7% |
| Debt / equity | 3.41 | ROA | 0.6% |
| Free-cash-flow yield | 0.0% | Payout ratio | 0% |
| Institutions | 1 / 10 | Insiders · Congress | 5 · 10 / 10 |
Wheel Score 43: Weak
ING scores 43 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 4, financially healthy - Piotroski 3/9 (under 6), and the parts are thin too - value strong, premium good, moat fair, health weak, red flags fair, option trading fair, stability strong. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 29% on the near-the-money contracts 20-60 days out: enough to pass the 25-80% Wheel Trade Filter, but under the 35-60% sweet spot the score rewards most. Chain open interest is 12,545 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 4.0M shares a day on a market cap of $93.4B, with a beta of 0.93; the Stability part of the Wheel Score rates that strong.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 3/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 34% below fair value | |
| Premium | Good | implied volatility 29% | |
| Moat | Fair | moat 3.7/10 | |
| Health | Weak | Piotroski 3/9 | |
| Red Flags | Fair | Red Flags score 75/100 | |
| Option trading | Fair | 2,109 contracts a day, 12,545 open interest | |
| Stability | Strong | beta 0.93, $93.4B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 28 Jan 2027, 84 days away - outside the window of a 30-45-day put sold today.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Diversified
The 12 companies below are the closest to ING Groep N.V. by market cap within the Banks - Diversified industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| SMFG Sumitomo Mitsui Financial Group, Inc. | 24.63 | 71.08 | +65% | 48Weak | $95.4B |
| CM Canadian Imperial Bank of Commerce | 119.87 | 131.01 | +9% | 71Good | $108.8B |
| BCS Barclays PLC | 23.70 | 130.70 | +82% | 80Good | $79.8B |
| BNS The Bank of Nova Scotia | 96.43 | 136.01 | +29% | 47Weak | $117.5B |
| BMO Bank of Montreal | 177.47 | 317.92 | +44% | 81Good | $123.4B |
| BBVA Banco Bilbao Vizcaya Argentaria, S.A. | 25.47 | 52.66 | +52% | 49Weak | $140.8B |
| UBS UBS Group AG | 50.67 | 77.43 | +35% | 80Good | $155.1B |
| SAN Banco Santander, S.A. | 12.07 | 38.86 | +69% | 48Weak | $179.8B |
| C Citigroup Inc. | 124.75 | 174.18 | +28% | 52Fair | $209.3B |
| TD The Toronto-Dominion Bank | 128.20 | 133.06 | +4% | 70Good | $216.6B |
| MUFG Mitsubishi UFJ Financial Group, Inc. | 21.97 | 30.73 | +29% | 87Prime | $248.2B |
| WFC Wells Fargo & Company | 87.43 | 158.36 | +45% | 84Good | $262.5B |
⚖ Compare ING with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about ING
Is ING undervalued right now?
By the GLS models, yes: at 32.84 the stock is 34% below the average fair value of 49.94 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of ING and what does it mean?
ING scores 43 out of 100 (Weak) - it fails Wheel Trade Filters 2, 4. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for ING?
49.94 per share as of 5 Nov 2026 - the simple average of the 7 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does ING Groep N.V. report earnings next?
The next earnings report is due on 28 Jan 2027, 84 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does ING have listed options, and how liquid are they?
Yes. The nightly snapshot found 124 listed contracts with 12,545 open interest across all expiries and implied volatility of 29% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.
Is ING an ADR?
Yes. ING is an American depositary share (ADR): the US listing of ING Groep N.V., whose own shares trade on its home exchange. It trades in dollars during US hours; currency moves and the home country's rules also affect it, and the depositary bank charges a small yearly fee.