ING Groep N.V. (ING): fair value, margin of safety and Wheel Score

Is ING undervalued?

ING closed at 33.27 on 16 Oct 2026, 28% below the GLS average fair value of 46.09 from 7 models (3 of them above the price). That is a moderate margin of safety: the stock passes the "below fair value" rule of the Sunday Scan, and the Wheel Score gives it 24 of the 25 Value points.

The 7 models disagree widely: DDM gives 19.25 while Graham Growth gives 100.42. 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 High Yield Income: a dividend yield above 4%.

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.

Quality and financial health

Financial health is average - ING passes 5 of the nine Piotroski tests, which falls one point short of the Sunday Scan's "6 or more" rule. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 4.8 out of 10, which says the ten-year record of revenue, earnings, margins and returns on capital has been inconsistent - growth and shocks rather than steady compounding.

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 4.36% (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.

Wheel Score 82: Prime

ING scores 82 out of 100 on the Wheel Score, in the Prime band (80 and above), which fewer than one stock in twenty reaches on any night. The score blends five things a wheel trader checks before selling a cash-secured put: the margin of safety (Value, 24/25), Piotroski health (11/20), the GLS moat (7/15), the option premium on offer (20/20) and how easily the stock trades (20/20).

Implied volatility is 36% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 22,699 contracts across all expiries - enough for the wheel at normal size.

Volume runs at 3.2M shares a day on a market cap of $94.0B, with a beta of 0.89; the Stability part of the Wheel Score gives that 20 of 20.

The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.

Upcoming events

ING Groep N.V. reports earnings on 29 Oct 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.

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.

⚖ Compare ING with 7 of them   All Financial Services stocks →