Deutsche Bank Aktiengesellschaft

SEP:DBK Stock Report

Market Cap: Kč825.8b

Deutsche Bank Valuation

Is DBK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of DBK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: DBK (CZK426.85) is trading below our estimate of fair value (CZK682.73)

Significantly Below Fair Value: DBK is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DBK?

Key metric: As DBK is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for DBK. This is calculated by dividing DBK's market cap by their current earnings.
What is DBK's PE Ratio?
PE Ratio8.5x
Earnings€3.89b
Market Cap€32.88b

Price to Earnings Ratio vs Peers

How does DBK's PE Ratio compare to its peers?

The above table shows the PE ratio for DBK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.3x
MQG Macquarie Group
23.1x9.8%AU$82.6b
BPAC11 Banco BTG Pactual
12.2x14.3%R$137.5b
UBSG UBS Group
21.9x25.5%CHF 88.6b
INL Investec Group
7.9x11.0%R113.9b
DBK Deutsche Bank
8.5x12.6%Kč32.9b

Price-To-Earnings vs Peers: DBK is good value based on its Price-To-Earnings Ratio (8.5x) compared to the peer average (16.3x).

Price to Earnings Ratio vs Industry

How does DBK's PE Ratio compare vs other companies in the European Capital Markets Industry?

16 CompaniesPrice / EarningsEstimated GrowthMarket Cap
DBK 8.5xIndustry Avg. 13.1xNo. of Companies38PE01224364860+
16 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DBK is good value based on its Price-To-Earnings Ratio (8.5x) compared to the European Capital Markets industry average (13.1x).

Price to Earnings Ratio vs Fair Ratio

What is DBK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DBK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate DBK's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst DBK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentKč426.85
Kč453.10
+6.2%
18.8%Kč582.17Kč273.52n/a15
Dec ’25Kč400.10
Kč454.64
+13.6%
18.6%Kč586.31Kč275.46n/a15
Nov ’25Kč399.00
Kč455.92
+14.3%
18.5%Kč588.39Kč276.44n/a15
Oct ’25Kč390.85
Kč434.13
+11.1%
19.0%Kč562.35Kč274.87n/a16
Sep ’25Kč371.55
Kč446.27
+20.1%
38.3%Kč1,078.24Kč273.32n/a18
Aug ’25Kč364.00
Kč452.38
+24.3%
38.3%Kč1,093.33Kč277.15n/a18
Jul ’25Kč383.65
Kč436.79
+13.8%
38.9%Kč1,071.37Kč271.58n/a18
Jun ’25Kč376.20
Kč431.96
+14.8%
38.8%Kč1,061.22Kč269.01n/a18
May ’25Kč380.10
Kč430.87
+13.4%
39.4%Kč1,078.75Kč273.45n/a18
Apr ’25Kč373.00
Kč399.50
+7.1%
44.5%Kč1,088.79Kč276.00n/a18
Mar ’25Kč316.00
Kč396.89
+25.6%
43.9%Kč1,095.48Kč277.69n/a19
Feb ’25Kč313.55
Kč373.24
+19.0%
46.7%Kč1,068.46Kč243.51n/a19
Jan ’25Kč303.00
Kč365.91
+20.8%
47.0%Kč1,053.00Kč239.99n/a19
Dec ’24Kč276.90
Kč363.82
+31.4%
47.0%Kč1,045.52Kč238.28Kč400.1019
Nov ’24Kč258.00
Kč367.60
+42.5%
47.5%Kč1,056.37Kč240.75Kč399.0019
Oct ’24Kč253.60
Kč365.03
+43.9%
48.5%Kč1,051.08Kč239.55Kč390.8518
Sep ’24Kč245.75
Kč353.76
+44.0%
48.6%Kč1,036.67Kč236.26Kč371.5519
Aug ’24Kč243.25
Kč350.72
+44.2%
48.7%Kč1,030.71Kč234.91Kč364.0019
Jul ’24Kč226.00
Kč357.77
+58.3%
46.8%Kč1,020.95Kč249.30Kč383.6519
Jun ’24Kč229.00
Kč355.78
+55.4%
45.9%Kč1,021.59Kč249.46Kč376.2020
May ’24Kč232.00
Kč352.23
+51.8%
46.0%Kč1,011.90Kč247.09Kč380.1020
Apr ’24Kč222.30
Kč359.59
+61.8%
44.1%Kč1,009.45Kč255.88Kč373.0020
Mar ’24Kč276.15
Kč364.10
+31.8%
44.1%Kč1,016.79Kč257.75Kč316.0020
Feb ’24Kč290.45
Kč349.73
+20.4%
47.0%Kč1,025.46Kč226.56Kč313.5520
Jan ’24Kč257.90
Kč348.82
+35.3%
49.1%Kč1,040.10Kč229.79Kč303.0019
Dec ’23Kč243.05
Kč348.59
+43.4%
49.9%Kč1,047.43Kč231.41Kč276.9019

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 22:00
End of Day Share Price 2024/12/18 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Deutsche Bank Aktiengesellschaft is covered by 55 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Marta Sánchez RomeroAhorro Corporación
Dieter HeinAlphaValue
Jesús Gómez DominguezBanco Santander