ING vs. NWG: ING Groep vs. NatWest Stock Comparison
How do ING Groep (ING) and NatWest (NWG) 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
ING Groep (ING) and NatWest (NWG) are both classified in the Diversified Banks sub-industry within the broader Banks industry, placing them in the closest GICS peer bucket.
Both ING Groep (ING) and NatWest (NWG) trade as ADRs — their core financials are comparable, but keep FX, depositary-program fees, and dividend withholding in view for each.
| Profile Item | ING | NWG |
|---|---|---|
| Name | ING Groep N.V. Sponsored ADR | NatWest Group plc Sponsored ADR |
| Country/Region | Netherlands | United Kingdom |
| GICS Sector | Financials | Financials |
| GICS Industry Group | Banks | Banks |
| GICS Industry | Banks | Banks |
| GICS Sub-Industry | Diversified Banks | Diversified Banks |
| Market Capitalization | 90.37 billion USD | 61.54 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | May 18, 1994 | October 18, 2007 |
| Security Type | ADR | ADR |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | ING | NWG |
|---|---|---|
| Total Return (1Y) | 34.23% | 7.03% |
| Total Return (3Y, Annualized) | 44.65% | 59.12% |
| Total Return (5Y, Annualized) | 24.74% | 30.15% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | ING | NWG |
|---|---|---|
| Volatility (1Y, Annualized) | 28.52% | 33.39% |
| Beta (5Y) | 0.85 | 0.96 |
| Max Drawdown (5Y) | -43.39% | -40.66% |
| Avg. Volume (3M) | 2.24M | 3.73M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | ING | NWG |
|---|---|---|
| Sharpe Ratio (1Y) | 1.05 | 0.08 |
| Sortino Ratio (1Y) | 1.67 | 0.12 |
Profitability
ROE (TTM)
Both ING Groep (ING) at 17.76% and NatWest (NWG) at 14.58% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.
ING
Banks industry group
17.76%
- Max
- 19.84%
- ING
- 17.76%
- Q3
- 13.67%
- Median
- 11.49%
- Q1
- 9.50%
- Min
- 3.64%
NWG
Banks industry group
14.58%
- Max
- 19.84%
- NWG
- 14.58%
- Q3
- 13.67%
- Median
- 11.49%
- Q1
- 9.50%
- Min
- 3.64%
Net Margin (TTM)
NatWest (NWG) at 36.93% retains a top-quartile share of revenue as profit, ahead of ING Groep (ING) at 34.40%, which keeps about the industry-typical share.
ING
Banks industry group
34.40%
- Max
- 47.19%
- Q3
- 35.25%
- ING
- 34.40%
- Median
- 31.21%
- Q1
- 27.11%
- Min
- 14.93%
NWG
Banks industry group
36.93%
- Max
- 47.19%
- NWG
- 36.93%
- Q3
- 35.25%
- Median
- 31.21%
- Q1
- 27.11%
- Min
- 14.93%
Operating Margin (TTM)
Neither side reports a meaningful operating margin: for ING Groep (ING) in Banks and NatWest (NWG) in Banks, funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.
Profitability Metrics
| Metric | ING | NWG |
|---|---|---|
| ROE (TTM) | 17.76% | 14.58% |
| ROA (TTM) | 0.79% | 0.85% |
| Net Margin (TTM) | 34.40% | 36.93% |
| Operating Margin (TTM) | -- | -- |
| Gross Margin (TTM) | -- | -- |
Growth
Revenue Growth
NatWest (NWG) at 13.35% is around its peer norm for revenue growth, while ING Groep (ING) at 1.55% drops into the bottom quartile, signaling weaker demand or pricing momentum.
EPS Growth
Both ING Groep (ING) at 7.07% and NatWest (NWG) at 26.93% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.
Growth Metrics
| Metric | ING | NWG |
|---|---|---|
| Revenue Growth (YoY) | 1.55% | 13.35% |
| Revenue Growth (3Y CAGR) | 6.63% | 7.55% |
| EPS Growth (YoY) | 7.07% | 26.93% |
| EPS Growth (3Y CAGR) | 28.04% | 26.12% |
Financial Strength
Current Ratio (MRQ)
current ratio doesn’t apply on either side: ING Groep (ING) in Banks and NatWest (NWG) 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: ING Groep (ING) in Banks and NatWest (NWG) 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
| Metric | ING | NWG |
|---|---|---|
| Current Ratio (MRQ) | -- | -- |
| Debt / Equity (MRQ) | -- | -- |
| Net Debt / EBITDA | -- | -- |
Dividends
Dividend Yield (TTM)
ING Groep (ING) at 4.55% delivers top-quartile income for its industry, while NatWest (NWG) at 2.19% pays a more typical yield — both are credible income propositions, ING the richer one.
ING
Banks industry group
4.55%
- Max
- 5.79%
- ING
- 4.55%
- Q3
- 3.18%
- Median
- 2.39%
- Q1
- 1.20%
- Min
- 0.00%
NWG
Banks industry group
2.19%
- Max
- 5.79%
- Q3
- 3.18%
- Median
- 2.39%
- NWG
- 2.19%
- Q1
- 1.20%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Both ING Groep (ING) at 48.14% and NatWest (NWG) at 47.43% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.
ING
Banks industry group
48.14%
- Max
- 70.75%
- ING
- 48.14%
- Q3
- 41.28%
- Median
- 29.26%
- Q1
- 18.98%
- Min
- 0.00%
NWG
Banks industry group
47.43%
- Max
- 70.75%
- NWG
- 47.43%
- Q3
- 41.28%
- Median
- 29.26%
- Q1
- 18.98%
- Min
- 0.00%
Dividend Metrics
| Metric | ING | NWG |
|---|---|---|
| Dividend Yield (TTM) | 4.55% | 2.19% |
| Dividend Payout Ratio (TTM) | 48.14% | 47.43% |
Valuation
P/E Ratio (TTM)
NatWest (NWG) at 7.84 sits in the cheaper P/E ratio quartile, while ING Groep (ING) at 11.70 is closer to its industry’s usual earnings multiple — a discount for NWG, though growth and earnings durability still matter.
ING
Banks industry group
11.70
- Max
- 18.16
- Q3
- 13.75
- Median
- 11.81
- ING
- 11.70
- Q1
- 10.64
- Min
- 6.49
NWG
Banks industry group
7.84
- Max
- 18.16
- Q3
- 13.75
- Median
- 11.81
- Q1
- 10.64
- NWG
- 7.84
- Min
- 6.49
P/S Ratio (TTM)
P/S ratio is set aside for both ING Groep (ING) in Banks and NatWest (NWG) 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)
NatWest (NWG) at 1.20 is valued about in line with its industry on P/B ratio, while ING Groep (ING) at 1.61 carries an above-peer premium to book — ING is pricier on assets.
ING
Banks industry group
1.61
- Max
- 2.28
- ING
- 1.61
- Q3
- 1.58
- Median
- 1.32
- Q1
- 1.10
- Min
- 0.59
NWG
Banks industry group
1.20
- Max
- 2.28
- Q3
- 1.58
- Median
- 1.32
- NWG
- 1.20
- Q1
- 1.10
- Min
- 0.59
Valuation Metrics
| Metric | ING | NWG |
|---|---|---|
| P/E Ratio (TTM) | 11.70 | 7.84 |
| P/S Ratio (TTM) | -- | -- |
| P/B Ratio (MRQ) | 1.61 | 1.20 |
| Free Cash Flow Yield (TTM) | -- | -- |