# ING CDR (CAD Hedged) (INGS.TO) fundamentals

Data as of 2026-11-04. TSX, Canada. Sector: Financial Services / Banks. Price C$38.44, market value C$114.9 billion.

## Valuation
- **P/E (trailing): 11.4×** (5-yr avg 16.1×, 3-yr avg 16.1×). ING CDR (CAD Hedged) trades at 11.4× trailing earnings, well below its own five-year average of 16.1×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 4.8×**. Each dollar of revenue is priced at 4.8×.
- **Price / book: 1.4×**. The shares trade at 1.4× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -5.9%** (5-yr avg -6.6%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 8.8%**. The inverse of the P/E: 8.8% of the price is earned each year.

## Profitability
- **Net margin: 27.6%**. 27.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 12.7%**. 12.7% on shareholders' equity is solid.
- **Return on assets: 0.6%**. Each dollar of assets produces 0.6% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 1.5%** (3-yr 6.6%/yr). Revenue grew 1.5% over the last year.
- **EPS growth (1 yr): 7.1%** (3-yr 28.0%/yr). Earnings per share rose 7.1%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Piotroski F-score: 2/9**. 2 of 9 checks pass: weak or deteriorating financials.
- **Cash and short-term investments: C$52.9 billion**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend: none**. ING CDR (CAD Hedged) does not currently pay a dividend.

## Price and momentum
- **From 52-week high: -14.9%** (27.7% above the low). Trading 15% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 37**. An RSI of 37 is neutral.
- **Beta (1 yr): 0.48** (volatility 29%). Beta of 0.48 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=INGS.TO · Page: https://foliofundamentals.com/stocks/ings.to

Not investment advice.