HSBC vs. ING: HSBC vs. ING Groep Stock Comparison

November 11, 2026

How do HSBC (HSBC) and ING Groep (ING) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

HSBC (HSBC) and ING Groep (ING) are both classified in the Diversified Banks sub-industry within the broader Banks industry, placing them in the closest GICS peer bucket.

Both HSBC (HSBC) and ING Groep (ING) trade as ADRs — their core financials are comparable, but keep FX, depositary-program fees, and dividend withholding in view for each.

Company profile comparison for HSBC (HSBC) and ING Groep (ING)
Profile Item	HSBC	ING
Name	HSBC Holdings plc Sponsored ADR	ING Groep N.V. Sponsored ADR
Country/Region	United Kingdom	Netherlands
GICS Sector	Financials	Financials
GICS Industry Group	Banks	Banks
GICS Industry	Banks	Banks
GICS Sub-Industry	Diversified Banks	Diversified Banks
Market Capitalization	297.66 billion USD	90.37 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	July 16, 1999	May 18, 1994
Security Type	ADR	ADR

Price Performance

Cumulative Growth

HSBC

ING

GSPC

HSBC (HSBC) vs. ING Groep (ING), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for HSBC (HSBC) and ING Groep (ING). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for HSBC (HSBC) and ING Groep (ING). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for HSBC (HSBC) and ING Groep (ING)
Metric	HSBC	ING
Total Return (1Y)	32.02%	34.23%
Total Return (3Y, Annualized)	43.61%	44.65%
Total Return (5Y, Annualized)	33.35%	24.74%

Risk Profile

Drawdown History

HSBC

ING

GSPC

HSBC (HSBC) vs. ING Groep (ING), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for HSBC (HSBC) and ING Groep (ING). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for HSBC (HSBC) and ING Groep (ING)
Metric	HSBC	ING
Volatility (1Y, Annualized)	28.54%	28.52%
Beta (5Y)	0.54	0.85
Max Drawdown (5Y)	-31.80%	-43.39%
Avg. Volume (3M)	1.58M	2.24M

Risk-Adjusted Performance

Risk-Return Positioning

HSBC and ING are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for HSBC (HSBC) and ING Groep (ING)
Metric	HSBC	ING
Sharpe Ratio (1Y)	0.97	1.05
Sortino Ratio (1Y)	1.52	1.67

Profitability

ROE (TTM)

Both HSBC (HSBC) at 14.22% and ING Groep (ING) at 17.76% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

HSBC

Banks industry group

14.22%

Max: 19.84%
HSBC: 14.22%
Q3: 13.67%
Median: 11.49%
Q1: 9.50%
Min: 3.64%

ING

Banks industry group

17.76%

Max: 19.84%
ING: 17.76%
Q3: 13.67%
Median: 11.49%
Q1: 9.50%
Min: 3.64%

HSBC (HSBC) vs. ING Groep (ING): A comparison of their ROE against the Banks industry group benchmark.

Net Margin (TTM)

HSBC (HSBC) at 41.16% retains a top-quartile share of revenue as profit, ahead of ING Groep (ING) at 34.40%, which keeps about the industry-typical share.

HSBC

Banks industry group

41.16%

Max: 47.19%
HSBC: 41.16%
Q3: 35.25%
Median: 31.21%
Q1: 27.11%
Min: 14.93%

ING

Banks industry group

34.40%

Max: 47.19%
Q3: 35.25%
ING: 34.40%
Median: 31.21%
Q1: 27.11%
Min: 14.93%

HSBC (HSBC) vs. ING Groep (ING): A comparison of their net margin against the Banks industry group benchmark.

Operating Margin (TTM)

Neither side reports a meaningful operating margin: for HSBC (HSBC) in Banks and ING Groep (ING) in Banks, funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Profitability metrics for HSBC (HSBC) and ING Groep (ING)
Metric	HSBC	ING
ROE (TTM)	14.22%	17.76%
ROA (TTM)	0.84%	0.79%
Net Margin (TTM)	41.16%	34.40%
Operating Margin (TTM)	--	--
Gross Margin (TTM)	--	--

Growth

Revenue Growth

Both HSBC (HSBC) at 5.38% and ING Groep (ING) at 1.55% post bottom-quartile revenue growth versus peers, pointing to weaker demand or pricing momentum than typical rivals.

HSBC (HSBC) vs. ING Groep (ING): A comparison of their Revenue Growth across different time periods.

EPS Growth

ING Groep (ING) at 7.07% is around its peer norm for EPS growth, while HSBC (HSBC) at -3.23% drops into the bottom quartile, signaling weaker earnings momentum.

HSBC (HSBC) vs. ING Groep (ING): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for HSBC (HSBC) and ING Groep (ING)
Metric	HSBC	ING
Revenue Growth (YoY)	5.38%	1.55%
Revenue Growth (3Y CAGR)	9.75%	6.63%
EPS Growth (YoY)	-3.23%	7.07%
EPS Growth (3Y CAGR)	17.49%	28.04%

Financial Strength

Current Ratio (MRQ)

current ratio doesn’t apply on either side: HSBC (HSBC) in Banks and ING Groep (ING) in Banks both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.

Debt / Equity (MRQ)

debt-to-equity ratio is set aside for both: HSBC (HSBC) in Banks and ING Groep (ING) in Banks run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.

Financial Strength Metrics

Financial strength metrics for HSBC (HSBC) and ING Groep (ING)
Metric	HSBC	ING
Current Ratio (MRQ)	--	--
Debt / Equity (MRQ)	--	--
Net Debt / EBITDA	--	--

Dividends

Dividend Yield (TTM)

ING Groep (ING) at 4.55% offers top-quartile income, while HSBC (HSBC) at 0.86% sits in the bottom quartile — a wide gap in cash returned to shareholders.

HSBC

Banks industry group

0.86%

Max: 5.79%
Q3: 3.18%
Median: 2.39%
Q1: 1.20%
HSBC: 0.86%
Min: 0.00%

ING

Banks industry group

4.55%

Max: 5.79%
ING: 4.55%
Q3: 3.18%
Median: 2.39%
Q1: 1.20%
Min: 0.00%

HSBC (HSBC) vs. ING Groep (ING): A comparison of their dividend yield against the Banks industry group benchmark.

Dividend Payout Ratio (TTM)

Both HSBC (HSBC) at 53.57% and ING Groep (ING) at 48.14% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

HSBC

Banks industry group

53.57%

Max: 70.75%
HSBC: 53.57%
Q3: 41.28%
Median: 29.26%
Q1: 18.98%
Min: 0.00%

ING

Banks industry group

48.14%

Max: 70.75%
ING: 48.14%
Q3: 41.28%
Median: 29.26%
Q1: 18.98%
Min: 0.00%

HSBC (HSBC) vs. ING Groep (ING): A comparison of their payout ratio against the Banks industry group benchmark.

Dividend Metrics

Dividend metrics for HSBC (HSBC) and ING Groep (ING)
Metric	HSBC	ING
Dividend Yield (TTM)	0.86%	4.55%
Dividend Payout Ratio (TTM)	53.57%	48.14%

Valuation

P/E Ratio (TTM)

Both HSBC (HSBC) at 11.38 and ING Groep (ING) at 11.70 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

HSBC

Banks industry group

11.38

Max: 18.16
Q3: 13.75
Median: 11.81
HSBC: 11.38
Q1: 10.64
Min: 6.49

ING

Banks industry group

11.70

Max: 18.16
Q3: 13.75
Median: 11.81
ING: 11.70
Q1: 10.64
Min: 6.49

HSBC (HSBC) vs. ING Groep (ING): A comparison of their P/E ratio against the Banks industry group benchmark.

P/S Ratio (TTM)

P/S ratio is set aside for both HSBC (HSBC) in Banks and ING Groep (ING) in Banks: without a conventional revenue line, pricing per dollar of sales isn’t meaningful, and book- or earnings-based multiples make the better comparison.

P/B Ratio (MRQ)

Both look rich against book: ING Groep (ING) at 1.61 sits in the upper P/B ratio quartile, and HSBC (HSBC) at 6.87 prices even higher, above its industry range.

HSBC

Banks industry group

6.87

HSBC: 6.87
Max: 2.28
Q3: 1.58
Median: 1.32
Q1: 1.10
Min: 0.59

ING

Banks industry group

1.61

Max: 2.28
ING: 1.61
Q3: 1.58
Median: 1.32
Q1: 1.10
Min: 0.59

HSBC (HSBC) vs. ING Groep (ING): A comparison of their P/B ratio against the Banks industry group benchmark.

Valuation Metrics

Valuation metrics for HSBC (HSBC) and ING Groep (ING)
Metric	HSBC	ING
P/E Ratio (TTM)	11.38	11.70
P/S Ratio (TTM)	--	--
P/B Ratio (MRQ)	6.87	1.61
Free Cash Flow Yield (TTM)	--	--