Discounted Cash Flow

ING Groep N.V. ADR

ING · Based on 10 years of SEC filings

DCF estimate unavailable — No positive free cash flow in recent history — company has not generated positive FCF

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income
Dividends

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $17.9b $5.0b $8.6b 27.8% $1.28
2017 $18.6b (3.8%) $5.5b (9.8%) $-5.3b (-161.4%) 29.4% (5.8%) $1.41 (10.2%)
2018 $18.3b (-1.4%) $4.8b (-12.9%) $6.9b (231.6%) 26.0% (-11.6%) $1.22 (-13.5%)
2019 $17.1b (-6.5%) $3.9b (-18.0%) $13.1b (88.8%) 22.8% (-12.3%) $1.00 (-18.0%)
2020 $17.2b (0.6%) $2.2b (-42.4%) $2.2b (-82.8%) 13.1% (-42.7%) $0.58 (-42.0%)
2021 $20.1b (16.6%) $6.0b (164.5%) $-14.9b (-764.1%) 29.6% (126.8%) $1.53 (163.8%)
2022 $30.4b (51.4%) $12.1b (103.8%) $-11.3b (24.1%) 39.9% (34.6%) $3.35 (119.0%)
2023 $18.1b (-40.4%) $4.1b (-65.9%) $-11.6b (-2.1%) 22.8% (-42.7%) $1.16 (-65.4%)
2024 $21.1b (16.4%) $5.3b (28.8%) $-22.9b (-97.5%) 25.3% (10.7%) $1.65 (42.2%)
2025 $25.7b (21.8%) $8.3b (56.1%) $-6.7b (70.6%) 32.4% (28.2%) $2.78 (68.5%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model

No positive free cash flow in recent history — company has not generated positive FCF

Once the company meets all DCF eligibility criteria (sufficient history, profitability, growth trends), an estimate will become available automatically. No action is needed.