ING
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | 7.91 | 7.33 | 11.93 | 11.32 |
| Price to Sales | 2.25 | 2.36 | 2.33 | 2.96 |
| Book Value Per Common Share | 16.25 | 15.32 | 13.79 | 14.28 |
| Price to Book | 0.96 | 0.98 | 0.88 | 0.97 |
| Price to Operating Cash Flow | -2.24 | -4.72 | -3.96 | -3.62 |
| Price to Free Cash Flow | -2.21 | -4.62 | -3.88 | -3.58 |
| Enterprise Value to EBITDA |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Price to Earnings | 43.47 | 41.68 | 42.35 | 30.78 | |
| Price to Sales | 13.19 | 11.43 | 10.68 | 9.07 | 9.83 |
| Book Value Per Common Share | 16.84 | 16.48 | 16.94 | 16.25 | 16.22 |
| Price to Book | 1.55 | 1.33 | 1.16 | 0.96 | 1.12 |
| Price to Operating Cash Flow | |||||
| Price to Free Cash Flow | |||||
| Enterprise Value to EBITDA |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | -3.41 | 100.98 | -17.07 | |
| Revenue YoY | -0.54 | 19.89 | 3.31 | |
| EBITDA YoY | ||||
| Net Profit YoY | -12.28 | 98.34 | -23.07 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Earning YoY | 27.03 | -37.29 | 22.92 | ||
| Revenue YoY | 2.63 | 1.21 | 4.24 | -8.51 | |
| EBITDA YoY | |||||
| Net Profit YoY | 6.69 | 15.12 | 26.08 | -38.62 |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | ||||
| Quick Ratio | ||||
| Current Ratio | ||||
| Debt to Equity | 18.89 | 17.70 | 18.20 | 16.41 |
| Long-Term Debt to Equity |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Cash Per Common Share | |||||
| Quick Ratio | |||||
| Current Ratio | |||||
| Debt to Equity | 20.60 | 20.67 | 19.44 | 18.89 | 19.09 |
| Long-Term Debt to Equity |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | 0.63 | 0.75 | 0.38 | 0.50 |
| ROE | 12.46 | 13.96 | 7.29 | 8.74 |
| Gross Margin | ||||
| Operating Margin | ||||
| EBITDA Margin | ||||
| Net Profit Margin | 28.37 | 32.17 | 19.45 | 26.12 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| ROA | 0.16 | 0.15 | 0.13 | 0.11 | 0.18 |
| ROE | 3.53 | 3.34 | 2.76 | 2.25 | 3.60 |
| Gross Margin | |||||
| Operating Margin | |||||
| EBITDA Margin | |||||
| Net Profit Margin | 30.53 | 29.37 | 25.82 | 21.34 | 31.81 |
Dividends
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Dividend Yield | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividend Payout Ratio | 60.69 | 40.72 | 84.19 | 49.87 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Dividend Yield | |||||
| Dividend Payout Ratio |
Financial Statements
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Assets | 1,020,545,000.00 | 975,583,000.00 | 967,817,000.00 | 951,290,000.00 |
| Cash and Short-Term Investments | 0 | 0 | 0 | 0 |
| Cash and Cash Equivalents | 69,956,000.00 | 89,892,000.00 | 87,250,000.00 | 106,055,000.00 |
| Short-Term Investments | 44,781,000.00 | 40,166,000.00 | 30,982,000.00 | 29,797,000.00 |
| Net Receivables | 984,000.00 | 834,000.00 | 900,000.00 | 1,347,000.00 |
| Inventory | 0 | 0 | 0 | 0 |
| Other Current Assets | 0 | 0 | 0 | 0 |
| Property, Plant, Equipment Net | 2,434,000.00 | 2,399,000.00 | 2,446,000.00 | 2,515,000.00 |
| Goodwill | 476,000.00 | 469,000.00 | 464,000.00 | 472,000.00 |
| Intangible Assets | 857,000.00 | 729,000.00 | 637,000.00 | 684,000.00 |
| Long-Term Investments | 133,265,000.00 | 117,850,000.00 | 103,029,000.00 | 109,406,000.00 |
| Non-Current Deferred Assets | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 |
| Liabilities | 969,237,000.00 | 923,401,000.00 | 917,406,000.00 | 896,634,000.00 |
| Payables and Expenses | 2,939,000.00 | 3,207,000.00 | 2,706,000.00 | 2,696,000.00 |
| Account Payables | 0 | 0 | 0 | 0 |
| Current Accrued Liabilities | 0 | 0 | 0 | 0 |
| Short-Term Debt | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 0 |
| Long-Term Debt | 171,327,000.00 | 150,000,000.00 | 119,497,000.00 | 116,014,000.00 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 |
| Equity | 51,308,000.00 | 52,182,000.00 | 50,411,000.00 | 54,656,000.00 |
| Shareholders Equity | 50,313,000.00 | 51,238,000.00 | 49,907,000.00 | 53,920,000.00 |
| Capital Stock | 31,000.00 | 35,000.00 | 37,000.00 | 39,000.00 |
| Share Premium | 17,116,000.00 | 17,116,000.00 | 17,116,000.00 | 17,105,000.00 |
| Retained Earnings | 33,853,000.00 | 36,852,000.00 | 34,944,000.00 | 37,318,000.00 |
| Treasury Shares | 765,000.00 | 1,994,000.00 | 1,205,000.00 | 1,612,000.00 |
| Accumulated Other Comprehensive Income | 78,000.00 | -771,000.00 | -985,000.00 | 1,070,000.00 |
| Minority Interest | 995,000.00 | 944,000.00 | 504,000.00 | 736,000.00 |
| Debt | 171,327,000.00 | 150,000,000.00 | 119,497,000.00 | 116,014,000.00 |
| Net Debt | 100,255,000.00 | 58,946,000.00 | 31,073,000.00 | 8,739,000.00 |
| Common Shares Outstanding | 3,096,274.53 | 3,343,622.99 | 3,619,144.87 | 3,775,764.30 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 22,527,000.00 | 22,649,000.00 | 18,891,000.00 | 18,285,000.00 |
| Interest Income | 58,905,000.00 | 52,228,000.00 | 28,471,000.00 | 21,113,000.00 |
| Interest Expense | 43,882,000.00 | 36,252,000.00 | 14,714,000.00 | 7,498,000.00 |
| Non-Interest Expense | 11,274,000.00 | 10,679,000.00 | 10,238,000.00 | 10,022,000.00 |
| Selling, General and Administrative Expenses | 8,132,000.00 | 7,703,000.00 | 7,181,000.00 | 6,962,000.00 |
| EBT | 9,300,000.00 | 10,492,000.00 | 5,502,000.00 | 6,782,000.00 |
| Income Tax | 2,650,000.00 | 2,970,000.00 | 1,725,000.00 | 1,877,000.00 |
| Net Income Including Non-Controlling Interests | 6,650,000.00 | 7,521,000.00 | 3,777,000.00 | 4,905,000.00 |
| Net Income Non-Controlling Interests | -258,000.00 | -235,000.00 | -102,000.00 | -128,000.00 |
| Net Income | 6,392,000.00 | 7,287,000.00 | 3,674,000.00 | 4,776,000.00 |
| Deprecation and Amortization | 673,000.00 | 674,000.00 | 711,000.00 | 834,000.00 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 |
| Diluted EPS | 0.00 | 0.00 | 0.00 | 0.00 |
| Average Shares Outstanding Basic | 3,228,700.00 | 3,562,900.00 | 3,619,100.00 | 3,888,500.00 |
| Average Shares Outstanding Diluted | 3,228,700.00 | 3,565,300.00 | 3,624,300.00 | 3,890,700.00 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | -22,544,000.00 | -11,340,000.00 | -11,112,000.00 | -14,943,000.00 |
| Operating Net Income | 9,300,000.00 | 10,492,000.00 | 5,502,000.00 | 6,782,000.00 |
| Deprecation and Amortization | 673,000.00 | 674,000.00 | 711,000.00 | 834,000.00 |
| Deferred Income Tax | 0 | 0 | 0 | 0 |
| Share Based Compensation | 0 | 0 | 0 | 0 |
| Change in Working Capital | -31,311,000.00 | -17,937,000.00 | -23,237,000.00 | -21,617,000.00 |
| Other Operating Activities | -1,206,000.00 | -4,569,000.00 | 5,912,000.00 | -942,000.00 |
| Investing Cash Flow | -6,033,000.00 | -8,545,000.00 | -5,307,000.00 | 6,220,000.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -282,000.00 | -189,000.00 | -148,000.00 | -145,000.00 |
| Net Purchase/Sale of Investments Net | -5,751,000.00 | -8,357,000.00 | -5,166,000.00 | 6,339,000.00 |
| Net Purchase/Sale of Business | 0 | 0 | 7,000.00 | 27,000.00 |
| Other Investing Activities | 0.00 | 1,000.00 | 0.00 | -1,000.00 |
| Financing Cash Flow | 5,374,000.00 | 18,404,000.00 | 4,649,000.00 | 5,387,000.00 |
| Net Issuance/Repayment of Debt | 13,069,000.00 | 24,902,000.00 | 9,460,000.00 | 9,376,000.00 |
| Net Issuance/Repurchase of Equity | -3,817,000.00 | -3,531,000.00 | -1,717,000.00 | -1,608,000.00 |
| Dividends Paid | -3,879,000.00 | -2,967,000.00 | -3,093,000.00 | -2,382,000.00 |
| Other Financing Activities | 1,000.00 | 0.00 | -1,000.00 | 1,000.00 |
| Net Change in Cash | -23,203,000.00 | -1,481,000.00 | -11,770,000.00 | -3,336,000.00 |
| Cash at Beginning of Period | 93,012,000.00 | 95,391,000.00 | 107,665,000.00 | 111,566,000.00 |
| Cash at End of Period | 69,069,000.00 | 93,012,000.00 | 95,391,000.00 | 107,665,000.00 |
| Free Cash Flow | -22,876,000.00 | -11,586,000.00 | -11,343,000.00 | -15,127,000.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|
| Assets | 1,092,359,000.00 | 1,086,760,000.00 | 1,078,904,000.00 | 1,020,545,000.00 | 1,049,470,000.00 | 0 |
| Cash and Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash and Cash Equivalents | 82,871,000.00 | 75,565,000.00 | 94,098,000.00 | 69,956,000.00 | 100,118,000.00 | 0 |
| Short-Term Investments | 51,880,000.00 | 48,371,000.00 | 45,898,000.00 | 44,781,000.00 | 44,420,000.00 | 0 |
| Net Receivables | 0 | 489,000.00 | 0 | 984,000.00 | 0 | 402,000.00 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Property, Plant, Equipment Net | 2,432,000.00 | 2,418,000.00 | 2,399,000.00 | 2,434,000.00 | 2,413,000.00 | 0 |
| Goodwill | 0 | 0 | 0 | 476,000.00 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 857,000.00 | 0 | 0 |
| Long-Term Investments | 253,035,000.00 | 254,122,000.00 | 249,714,000.00 | 133,265,000.00 | 242,619,000.00 | 0 |
| Non-Current Deferred Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Liabilities | 1,041,792,000.00 | 1,036,614,000.00 | 1,026,110,000.00 | 969,237,000.00 | 997,235,000.00 | 0 |
| Payables and Expenses | 0 | 359,000.00 | 0 | 2,939,000.00 | 0 | 391,000.00 |
| Account Payables | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Accrued Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Debt | 170,476,000.00 | 167,582,000.00 | 168,320,000.00 | 171,327,000.00 | 168,430,000.00 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 50,567,000.00 | 50,146,000.00 | 52,794,000.00 | 51,308,000.00 | 52,235,000.00 | 0 |
| Shareholders Equity | 49,447,000.00 | 49,115,000.00 | 51,675,000.00 | 50,313,000.00 | 51,294,000.00 | 0 |
| Capital Stock | 0 | 31,000.00 | 0 | 31,000.00 | 0 | 33,000.00 |
| Share Premium | 0 | 17,116,000.00 | 0 | 17,116,000.00 | 0 | 17,116,000.00 |
| Retained Earnings | 0 | 35,125,000.00 | 0 | 33,853,000.00 | 0 | 34,535,000.00 |
| Treasury Shares | 0 | 2,746,000.00 | 0 | 765,000.00 | 0 | 1,024,000.00 |
| Accumulated Other Comprehensive Income | 0 | -411,000.00 | 0 | 78,000.00 | 0 | -513,000.00 |
| Minority Interest | 1,120,000.00 | 1,031,000.00 | 1,119,000.00 | 995,000.00 | 941,000.00 | 0 |
| Debt | 170,476,000.00 | 167,582,000.00 | 168,320,000.00 | 171,327,000.00 | 168,430,000.00 | 0 |
| Net Debt | 87,605,000.00 | 92,017,000.00 | 74,222,000.00 | 100,255,000.00 | 68,312,000.00 | 0 |
| Common Shares Outstanding | 2,935,900.00 | 2,980,791.17 | 3,050,200.00 | 3,096,274.53 | 3,161,700.00 | 0 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-03-31 |
|---|---|---|---|---|---|---|
| Revenues | 5,854,000.00 | 5,704,000.00 | 5,636,000.00 | 5,407,000.00 | 5,910,000.00 | 0 |
| Interest Income | 3,705,000.00 | 22,090,000.00 | 3,622,000.00 | 3,680,000.00 | 3,689,000.00 | 0 |
| Non-Interest Expense | 2,939,000.00 | -1,523,000.00 | 3,180,000.00 | 3,228,000.00 | 2,880,000.00 | 0 |
| EBT | 2,560,000.00 | 2,369,000.00 | 2,124,000.00 | 1,771,000.00 | 2,668,000.00 | 0 |
| Income Tax | 703,000.00 | 633,000.00 | 604,000.00 | 542,000.00 | 724,000.00 | 0 |
| Net Income Including Non-Controlling Interests | 1,857,000.00 | 1,736,000.00 | 1,520,000.00 | 1,229,000.00 | 1,944,000.00 | 0 |
| Net Income Non-Controlling Interests | -70,000.00 | -62,000.00 | -65,000.00 | -74,000.00 | -65,000.00 | 0 |
| Net Income | 1,787,000.00 | 1,675,000.00 | 1,455,000.00 | 1,154,000.00 | 1,880,000.00 | 0 |
| EPS | 0.00 | 0 | 0.00 | 0.00 | 0.00 | 0.00 |
| Diluted EPS | 0.00 | 0 | 0.00 | 0.00 | 0.00 | 0.00 |
| Average Shares Outstanding Basic | 2,960,300.00 | 0 | 3,071,500.00 | 3,130,000.00 | 3,200,600.00 | 3,309,500.00 |
| Average Shares Outstanding Diluted | 2,960,300.00 | 0 | 3,071,500.00 | 3,130,000.00 | 3,200,600.00 | 3,309,500.00 |
| Breakdown |
|---|
| Operating Cash Flow |
| Operating Net Income |
| Deprecation and Amortization |
| Deferred Income Tax |
| Share Based Compensation |
| Change in Working Capital |
| Other Operating Activities |
| Investing Cash Flow |
| Capital Expenditure |
| Net Purchase/Sale of PPE |
| Net Purchase/Sale of Investments Net |
| Net Purchase/Sale of Business |
| Other Investing Activities |
| Financing Cash Flow |
| Net Issuance/Repayment of Debt |
| Net Issuance/Repurchase of Equity |
| Dividends Paid |
| Other Financing Activities |
| Net Change in Cash |
| Cash at Beginning of Period |
| Cash at End of Period |
| Free Cash Flow |