ING
ING Groep N.V.
There isn't enough reported data to score ING yet.
MS
Morgan Stanley
MS's fundamentals are strong: revenue grew 16% and earnings per share grew 29%. At 15x earnings, it's trading in line with its usual 14x. Analysts expect earnings growth.
ING Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Strong | |
| N/A | |
| N/A |
ING's profitability is currently strong. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for financial services companies like ING.
MS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
MS's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like MS.
ING PE Valuation
ING has no meaningful PE right now: it lost money over the past year.
MS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $134 | -29% |
| Fair | 14x | $178 | -5.7% |
| Forward | 14x | $189 | — |
| Current | 15x | $189 | — |
| Expensive | 18x | $223 | +18% |
Historical ranges are pointers, not guarantees.
MS's PE is in its fair range at 15x. If earnings grow as analysts expect, today's price would be 14x next year's earnings.
ING Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for ING, with profitability improving.
MS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for MS, with profitability improving.
ING Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q4 2025 | $3.09 | +69% |
| Q4 2024 | $1.83 | +42% |
| Q4 2023 | $1.29 | -65% |
| Q4 2022 | $3.72 | +119% |
| Q2 2022 | $3.09 | +124% |
| Q4 2021 | $1.70 | +166% |
| Q2 2021 | $1.38 | +75% |
| Q4 2020 | $0.64 | -42% |
ING earned $3.09 per share over the past year, down 17% from the year before.
MS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.39 | +6.3% |
| Q3 2026 | $12.60 | +29% |
| Q2 2026 | $12.37 | +40% |
| Q1 2026 | $11.04 | +29% |
| Q4 2025 | $10.21 | +28% |
| Q3 2025 | $9.76 | +48% |
| Q2 2025 | $8.84 | +45% |
| Q1 2025 | $8.53 | +55% |
| Q4 2024 | $7.95 | +53% |
MS has the edge over ING in the latest year-over-year earnings comparison.
ING Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2025 | $14.5B | +61% |
| Q2 2025 | $13.6B | -3.9% |
| Q4 2024 | $9B | -55% |
| Q4 2023 | $20.1B | +48% |
| Q4 2022 | $13.6B | +27% |
| Q2 2022 | $20.1B | +82% |
| Q4 2021 | $10.7B | +13% |
| Q2 2021 | $11B | +14% |
ING's revenue has slid since its 2017 peak: $14.5B last quarter, down 28% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2025 | 102% | +1.6 points |
| Q2 2025 | 101% | -1.1 points |
| Q4 2024 | 102% | +3 points |
| Q2 2024 | 100% | -2.6 points |
| Q4 2023 | 100% | -2.3 points |
| Q4 2022 | 102% | +75 points |
| Q2 2022 | 99% | +86 points |
| Q4 2021 | 103% | +68 points |
ING's operating margin was 102% last quarter, up 1.6 points from the same quarter a year ago.
MS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $20.3B | +12% |
| Q2 2026 | $21.3B | +27% |
| Q1 2026 | $20.6B | +16% |
| Q4 2025 | $17.9B | +10% |
| Q3 2025 | $18.2B | +18% |
| Q2 2025 | $16.8B | +12% |
| Q1 2025 | $17.7B | +17% |
| Q4 2024 | $16.2B | +26% |
MS has the edge over ING in the latest year-over-year revenue comparison.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 32% | -1.2 points |
| Q2 2026 | 34% | +6.9 points |
| Q1 2026 | 34% | +2.8 points |
| Q4 2025 | 32% | +2 points |
| Q3 2025 | 33% | +5.6 points |
| Q2 2025 | 28% | +0.4 points |
| Q1 2025 | 31% | +2.2 points |
| Q4 2024 | 30% | +14 points |
MS's operating margin was 32% last quarter, down 1.2 points from the same quarter a year ago.
ING Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2025 | -$19B | +$12.8B |
| Q2 2025 | $11.5B | +79% |
| Q4 2024 | -$31.8B | -$19B |
| Q4 2023 | -$12.9B | +$24.9B |
| Q4 2022 | -$37.8B | -$24.6B |
| Q2 2022 | $25.2B | +$28.8B |
| Q4 2021 | -$13.2B | -150% |
| Q2 2021 | -$3.6B | -104% |
ING's free cash flow was −$32.9B over the past year, against −$38.6B the year before. Free cash flow isn't a meaningful measure for financial services companies like ING.
MS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$46B | -$42.7B |
| Q2 2026 | -$2.7B | -123% |
| Q1 2026 | -$7.1B | +$16.9B |
| Q4 2025 | -$2.4B | -120% |
| Q3 2025 | -$3.3B | +$14B |
| Q2 2025 | $11.8B | +368% |
| Q1 2025 | -$24B | -650% |
| Q4 2024 | $11.8B | +$29.6B |
MS's free cash flow was −$58.3B over the past year, against −$3.7B the year before. Free cash flow isn't a meaningful measure for financial services companies like MS.
ING Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.7% | -52.2M shares |
| 1 year | -16% | -576M shares |
| 3 years | -23% | -905M shares |
ING has the edge over MS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q2 2025 | $71.1M |
| Q4 2024 | — |
| Q2 2024 | $47.8M |
| Q4 2023 | $4.4B |
| Q4 2022 | $1.3B |
| Q2 2022 | $422.1M |
| Q4 2016 | — |
MS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -3M shares |
| 1 year | -1.5% | -24M shares |
| 3 years | -4.7% | -77M shares |
| 5 years | -14% | -246M shares |
| Available history | -4.5% | -74M shares |
MS has 1.6B diluted shares, down 1.5% from a year ago.
ING Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2025 | 4.4x | High |
| Q2 2025 | 4.1x | High |
| Q4 2024 | 4.2x | High |
| Q4 2023 | 2.5x | Moderate |
| Q4 2022 | 0.5x | Very low |
| Q2 2022 | -0.7x | Net Cash |
| Q4 2021 | 0.0x | Very low |
| Q2 2021 | 0.3x | Very low |
ING's net debt is about 4.4 years of its operating earnings (EBITDA), up from less than a year a year ago. Net leverage isn't a meaningful measure for financial services companies like ING.
MS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 7.8x | High |
| Q2 2026 | 7.3x | High |
| Q1 2026 | 8.2x | High |
| Q4 2025 | 8.6x | High |
| Q3 2025 | 8.4x | High |
| Q2 2025 | 8.7x | High |
| Q1 2025 | 8.7x | High |
| Q4 2024 | 7.9x | High |
MS's net debt is about 7.8 years of its operating earnings (EBITDA), down from 8.4 years a year ago. Net leverage isn't a meaningful measure for financial services companies like MS.
ING Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.4 | Neutral |
| Stochastic | 17.1 | Oversold |
ING's weekly RSI is 51 (neutral) and its Stochastic is 17 (oversold).
MS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.0 | Neutral |
| Stochastic | 18.7 | Oversold |
MS's weekly RSI is 45 (neutral) and its Stochastic is 19 (oversold).
ING PE vs Financial Services Sector
| Metric | ING | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
ING has no meaningful PE right now: it lost money over the past year.
MS PE vs Financial Services Sector
| Metric | MS | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 13x | 15% above |
| PE % | 59 | 63 | 4 pts below |
MS is trading at 15x earnings, a 15% premium to the Financial Services sector's median of 13x.
ING Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $33.3 | 0.8% below |
| 20 week MA | $34.2 | 3.3% below |
| 50 week MA | $30.8 | 7.3% above |
| 100 week MA | $26.0 | 27% above |
| 200 week MA | $20.5 | 61% above |
ING has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 61% above its 200-week average.
MS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $186.5 | 1.5% above |
| 20 week MA | $203.3 | 6.9% below |
| 50 week MA | $191.9 | 1.4% below |
| 100 week MA | $164.9 | 15% above |
| 200 week MA | $129.3 | 46% above |
MS's trend is mixed: it's above three of its five weekly moving averages, and 46% above its 200-week average.
ING Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $12.0 | $9.54 | -21% |
| 2021 | $9.54 | $13.8 | +45% |
| 2022 | $13.8 | $12.3 | -11% |
| 2023 | $12.3 | $15.0 | +23% |
| 2024 | $15.0 | $15.6 | +4.1% |
| 2025 | $15.6 | $28.3 | +81% |
| 2026 YTD | $28.3 | $33.0 | +17% |
ING has the edge over MS on returns for 2026, with the stronger performance.
MS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $51.1 | $68.1 | +33% |
| 2021 | $68.1 | $99.3 | +46% |
| 2022 | $99.3 | $86.1 | -13% |
| 2023 | $86.1 | $93.3 | +8.3% |
| 2024 | $93.3 | $126.8 | +36% |
| 2025 | $126.8 | $181.9 | +43% |
| 2026 YTD | $181.9 | $189.2 | +4% |
MS has finished higher in five of the last six years. It's up 4% so far in 2026.