Added to YB: 2026-08-18
Pitch date: 2026-08-14
ING [neutral]
ING Groep N.V.
-0.67%
current return
Author Info
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Company Info
ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally.
Market Cap
EUR 88.2B
Pitch Price
EUR 35.87
Price Target
N/A
Dividend
4.24%
EV/EBITDA
N/A
P/E
10.34
EV/Sales
N/A
Sector
Banks
Category
growth
ING Grad DD - part 1: Lie detection & ROIC
ING (deep dive): Croatian construction/heritage restoration co (67% heritage, 33% resi/commercial, mostly public clients). Capital-light w/ exceptional ROIC 132.5% (2025, adj for excess cash) vs WACC 9%, but overspending on growth—invested capital growing 79% vs 39% NOPAT. Op margin 15.65%, net 13.12%. High quality if mgmt slows cash burn.
Read full article (3 min)