Quick verdict: BMO vs ING in 2026

Overall, ING Groep N.V. (ING) holds the edge, leading across more comparable metrics according to our analysis. Bank of Montreal (BMO) is the growth leader given its less severe revenue decline, while ING stands out as the value leader with more attractive P/E and P/B ratios, and also the margin leader with superior net and EBITDA margins. ING is also the analyst favorite with a higher percentage of Buy ratings and boasts more favorable implied upside from analyst price targets, experiencing less severe projected downside. Not investment advice.

BMO vs ING: key metrics side by side

Full side-by-side comparison of BMO and ING across valuation, profitability, growth and analyst sentiment. Data updated 2026-05-03.

BMO vs ING valuation comparison

When evaluating BMO vs ING valuation, ING Groep N.V. (ING) appears to be the more attractively priced option based on several key metrics. ING trades at a P/E ratio of 11.13x, significantly lower than Bank of Montreal’s (BMO) P/E of 16.21x. This suggests that investors are paying less for each dollar of earnings with ING. Similarly, on a price-to-book (P/B) basis, ING also presents a lower valuation at 1.41x compared to BMO’s 1.71x, implying that ING’s assets are valued more conservatively by the market. These traditional valuation ratios consistently point to ING offering more value relative to its earnings and assets as of 2026-05-03.

However, the Discounted Cash Flow (DCF) models present a different perspective on potential intrinsic value. BMO’s DCF calculation indicates a substantial upside of +198.0%, suggesting the stock could be significantly undervalued based on its future cash flow generation potential. In contrast, ING’s DCF shows a solid, but lesser, upside of +114.8%. While both companies offer considerable theoretical upside according to this model, BMO’s potential intrinsic value appears considerably higher. Despite the DCF model’s optimism for BMO, the traditional valuation multiples (P/E and P/B) point to ING as the relatively cheaper stock in terms of current market pricing against earnings and book value, making it potentially more appealing for value-conscious investors.

BMO vs ING growth comparison

In a BMO vs ING growth comparison, the two financial institutions exhibit vastly different recent revenue trajectories. Bank of Montreal (BMO) reported revenue growth of -0.5% year-over-year. While still negative, this indicates a relatively stable performance compared to ING Groep N.V. (ING), which saw a substantial revenue decline of -65.3% year-over-year. This stark contrast suggests that BMO has managed to maintain its revenue base more effectively in the recent period, experiencing only a minor contraction. This less severe decline allows BMO to demonstrate stronger momentum in terms of revenue stability, making it the relative growth leader in this context as of 2026-05-03.

Despite ING’s significant revenue contraction, it demonstrates superior efficiency in converting revenue into profit. ING boasts a net margin of 15.41% and an EBITDA margin of 22.24%, both comfortably surpassing BMO’s net margin of 11.77% and EBITDA margin of 18.04%. This indicates that while ING’s top line has faced considerable headwinds, its operational profitability and cost management are more robust. Therefore, while BMO shows stronger momentum in containing revenue declines, ING clearly excels in margin performance, suggesting a leaner operating model that could leverage revenue growth more effectively should its top line stabilize and rebound.

BMO vs ING profitability

Examining BMO vs ING profitability reveals ING Groep N.V. (ING) as the more efficient operator in terms of translating revenue into net income. ING reported a net margin of 15.41%, which is noticeably higher than Bank of Montreal’s (BMO) net margin of 11.77%. This indicates that for every dollar of revenue, ING retains a larger portion as profit, reflecting superior cost control or more profitable business segments. Furthermore, ING’s EBITDA margin stands at 22.24%, also exceeding BMO’s 18.04%, reinforcing its operational efficiency before accounting for depreciation and amortization. These figures position ING as the profitability leader in terms of core operational metrics.

However, when considering free cash flow generation, BMO takes the lead. BMO has a Free Cash Flow (FCF) yield of 1.57%, while ING shows a 0% FCF yield based on the provided data. This suggests that BMO is actively generating positive cash flow after accounting for operating expenses and capital expenditures, which is crucial for reinvestment, debt reduction, or shareholder returns. The Return on Equity (ROE) for both companies is N/A%, so this metric cannot be used for direct comparison. Therefore, while ING demonstrates stronger core profit margins, BMO appears to be more effective in generating tangible free cash flow, which is a key indicator of financial health and the ability to generate cash for various strategic purposes.

Analyst ratings: BMO vs ING

When considering analyst ratings for BMO vs ING, it becomes clear that analysts collectively express a higher degree of confidence in ING Groep N.V. (ING) compared to Bank of Montreal (BMO). Out of 17 analysts covering ING, a significant 64.7% have issued a “Buy” rating. Their consensus target price for ING is $22.5, which implies a potential downside of -21.2% from its current price of $28.55. Despite this implied downside, the higher proportion of buy ratings suggests a generally optimistic long-term view among the analyst community for ING, favoring it over BMO as of 2026-05-03.

In contrast, Bank of Montreal (BMO) is covered by 18 analysts, but only 44.4% of them recommend a “Buy”. The consensus target price for BMO stands at $92, indicating a more substantial potential downside of -39.7% from its current price of $152.49. While both stocks currently trade above their consensus price targets, analysts clearly prefer ING, as evidenced by the higher percentage of buy ratings and the less severe implied downside according to their price targets. This difference in analyst sentiment could reflect perceived differences in future performance, risk profiles, or growth opportunities between the two financial giants, with ING emerging as the analyst favorite.

Should I buy BMO or ING stock in 2026?

When considering whether should I buy BMO or ING stock in 2026, the decision largely depends on an investor’s specific objectives and risk tolerance. For investors prioritizing relative stability and less severe revenue contraction, Bank of Montreal (BMO) may seem like the more predictable option despite its slightly negative revenue growth of -0.5% year-over-year. This compares favorably to ING Groep N.V.’s (ING) much larger revenue decline of -65.3% year-over-year. While neither shows robust positive growth currently, BMO’s ability to contain revenue contraction to a minimal level suggests a more resilient business model in the current economic climate, potentially offering a more predictable growth trajectory as conditions improve.

For value investors, ING Groep N.V. (ING) presents a compelling case. With a P/E ratio of 11.13x and a P/B ratio of 1.41x, ING is priced more attractively than BMO, which trades at 16.21x P/E and 1.71x P/B. This indicates that ING’s earnings and assets are valued more modestly by the market, potentially offering a greater margin of safety. Furthermore, while BMO’s DCF upside of +198.0% is significantly higher than ING’s +114.8%, the current market valuation multiples suggest ING offers better immediate value for those focusing on current pricing relative to fundamentals. Both companies have a “Buy” consensus from analysts, but ING garners a higher percentage of buy ratings, reflecting stronger analyst conviction despite its revenue challenges.

For income-focused investors, the dividend yields are relatively low for both, but ING offers a slightly higher yield. ING Groep N.V. provides a dividend yield of 0.05%, marginally surpassing Bank of Montreal’s (BMO) yield of 0.03%. While neither stock is a prominent dividend play based on these figures, ING might appeal more to those seeking even a modest income stream. Ultimately, the choice between BMO and ING in 2026 hinges on whether an investor prioritizes relative revenue stability (BMO), attractive valuation multiples (ING), or a slightly better income yield (ING). This is not investment advice.

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FAQ: BMO vs ING