XTRA:DBK

Stock Analysis Report

Executive Summary

Deutsche Bank Aktiengesellschaft provides commercial and investment banking, retail banking, transaction banking, and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals worldwide.


Snowflake Analysis

Moderate growth potential and overvalued.


Similar Companies

Share Price & News

How has Deutsche Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DBK's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

6.9%

DBK

3.3%

DE Capital Markets

1.7%

DE Market


1 Year Return

31.9%

DBK

34.0%

DE Capital Markets

15.0%

DE Market

Return vs Industry: DBK underperformed the German Capital Markets industry which returned 34% over the past year.

Return vs Market: DBK exceeded the German Market which returned 15% over the past year.


Shareholder returns

DBKIndustryMarket
7 Day6.9%3.3%1.7%
30 Day34.2%15.7%1.4%
90 Day53.9%26.1%3.3%
1 Year34.2%31.9%36.8%34.0%18.5%15.0%
3 Year-34.8%-44.0%8.5%-4.4%17.1%6.9%
5 Year-58.3%-65.1%-17.6%-30.5%24.3%7.3%

Price Volatility Vs. Market

How volatile is Deutsche Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Deutsche Bank undervalued compared to its fair value and its price relative to the market?

0.33x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: DBK (€10.19) is trading above our estimate of fair value (€6.99)

Significantly Below Fair Value: DBK is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: DBK is unprofitable, so we can't compare its PE Ratio to the Capital Markets industry average.

PE vs Market: DBK is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate DBK's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: DBK is good value based on its PB Ratio (0.3x) compared to the DE Capital Markets industry average (1.8x).


Next Steps

Future Growth

How is Deutsche Bank forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

115.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DBK is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (-0.4%).

Earnings vs Market: DBK is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: DBK's is expected to become profitable in the next 3 years.

Revenue vs Market: DBK's revenue (0.1% per year) is forecast to grow slower than the German market (5% per year).

High Growth Revenue: DBK's revenue (0.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DBK's Return on Equity is forecast to be low in 3 years time (4%).


Next Steps

Past Performance

How has Deutsche Bank performed over the past 5 years?

-6.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DBK is currently unprofitable.

Growing Profit Margin: DBK is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: DBK is unprofitable, and losses have increased over the past 5 years at a rate of -6.8% per year.

Accelerating Growth: Unable to compare DBK's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: DBK is unprofitable, making it difficult to compare its past year earnings growth to the Capital Markets industry (-2.7%).


Return on Equity

High ROE: DBK has a negative Return on Equity (-8.15%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Deutsche Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: DBK has a low level of unsold assets or inventory.

Debt Coverage by Assets: DBK's debt is covered by short term assets (assets are 1.3x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: DBK has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: DBK has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of -20% each year


Financial Institutions Analysis

Asset Level: DBK's level of assets compared to its equity is very high.

Allowance for Bad Loans: Insufficient data to determine if DBK has a sufficient allowance for bad loans.

Low Risk Liabilities: DBK reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if DBK has an acceptable proportion of non-loan assets held.

Low Risk Deposits: DBK has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if DBK has an appropriate level of bad loans.


Next Steps

Dividend

What is Deutsche Bank's current dividend yield, its reliability and sustainability?

1.08%

Current Dividend Yield


Dividend Yield vs Market

company1.1%marketbottom25%1.3%markettop25%3.6%industryaverage1.6%forecastin3Years0.7%

Current dividend yield vs market & industry

Notable Dividend: DBK's dividend (1.08%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.31%).

High Dividend: DBK's dividend (1.08%) is low compared to the top 25% of dividend payers in the German market (3.59%).


Stability and Growth of Payments

Stable Dividend: DBK's dividend payments have been volatile in the past 10 years.

Growing Dividend: DBK's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: DBK is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: DBK's dividends in 3 years are forecast to be thoroughly covered by earnings (14.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure


CEO

Christian Sewing (49yo)

1.8yrs

Tenure

€4,262,666

Compensation

Mr. Christian Sewing has been Chairman of Management Board of Deutsche Bank Aktiengesellschaft since January 01, 2015 and as its CEO since April 8, 2018 respectively. Mr. Sewing served as Chairman of Super ...


CEO Compensation Analysis

Compensation vs Market: Christian's total compensation ($USD4.62M) is about average for companies of similar size in the German market ($USD4.37M).

Compensation vs Earnings: Christian's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Christian Sewing
CEO & Chairman of Management Board1.8yrs€4.26m0.0036% 746.9k
Karl von Rohr
President & Deputy Chairman of the Executive Board0.6yrs€3.68m0.00027% 56.8k
James von Moltke
CFO & Member of Management Board2.8yrs€5.13m0.0012% 254.6k
Stuart Lewis
Chief Risk Officer & Member of Management Board7.7yrs€5.01m0.0050% 1.1m
Werner Steinmüller
Regional CEO of Asia Pacific & Member of Management Board3.5yrsno data0.0071% 1.5m
Fabrizio Campelli
Chief Transformation Officer & Member of Management Board0.3yrsno datano data
Frank Kuhnke
COO & Member of the Management Board1.8yrsno data0.00034% 71.5k
Christiana Riley
Member of Management Board & CEO of America0.5yrsno datano data
Bernd Leukert
Head of Technology0.08yrsno datano data
Andreas Loetscher
Chief Accounting Officer0yrsno datano data

1.8yrs

Average Tenure

51yo

Average Age

Experienced Management: DBK's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Borislav Ivanov-Blankenburg
Chairman & Chief Country Officer of Deutsche Bank Russia2.7yrsno datano data
Anthony Deering
Member of Americas Advisory Board0yrsno datano data
Lynn Martin
Member of Americas Advisory Board12.1yrsno datano data
Paul M. Achleitner
Supervisory Board Chairman7.8yrsno datano data
Benjamin Griswold
Member of Americas Advisory Board0yrsno datano data
Gabriele Platscher
Employee Representative Member of Supervisory Board16.7yrsno data0.000070% 14.7k
Henriette Mark
Employee Representative Member of Supervisory Board16.7yrsno data0.000070% 14.7k
Mayree Clark
Member of Supervisory Board1.8yrsno data0.0019% 408.2k
Norbert Winkeljohann
Member of Supervisory Board1.5yrsno datano data
Detlef Polaschek
Deputy Chairman of the Supervisory Board1.8yrsno data0.000030% 6.3k

5.2yrs

Average Tenure

62yo

Average Age

Experienced Board: DBK's board of directors are considered experienced (5.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Deutsche Bank Aktiengesellschaft's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Deutsche Bank Aktiengesellschaft
  • Ticker: DBK
  • Exchange: XTRA
  • Founded: 1870
  • Industry: Diversified Capital Markets
  • Sector: Diversified Financials
  • Market Cap: €21.040b
  • Shares outstanding: 2.07b
  • Website: https://www.db.com

Number of Employees


Location

  • Deutsche Bank Aktiengesellschaft
  • Taunusanlage 12
  • Frankfurt am Main
  • Hessen
  • 60325
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
0H7DLSE (London Stock Exchange)YesCommon SharesGBEURJan 1992
DB NBMV (Bolsa Mexicana de Valores)YesCommon SharesMXMXNJan 1992
DBKWBAG (Wiener Boerse AG)YesCommon SharesATEURJan 1992
DBKDB (Deutsche Boerse AG)YesCommon SharesDEEURJan 1992
DBKBIT (Borsa Italiana)YesCommon SharesITEURJan 1992
DBKXTRA (XETRA Trading Platform)YesCommon SharesDEEURJan 1992
DBNYSE (New York Stock Exchange)YesCommon SharesUSUSDJan 1992
DEUTSCHEBANKBUSE (Budapest Stock Exchange)YesCommon SharesHUHUFJan 1992
DBKDBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURJan 1992
DBKSEP (The Stock Exchange Prague Co. Ltd.)YesCommon SharesCZCZKJan 1992
DBAG34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH REP 1 NPV(REGD)BRBRLMay 2019

Biography

Deutsche Bank Aktiengesellschaft provides commercial and investment banking, retail banking, transaction banking, and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals worldwide. The Corporate Bank segment provides cash management, trade finance and lending, trust and agency, and securities services. The Investment Bank segment offers strategic advisory services to corporate clients with focus on equity capital markets. The segment focuses on financing, advisory, fixed income, and currencies. The Private Bank segment provides payment and current account services, investment management, and retirement planning, as well as deposits, loans, mortgages, start-up financing, and structured finance for private, commercial, and corporate clients. This segment also provides wealth management services. The Asset Management segment provides investment solutions to individual investors and institutions with a range of active, passive, and alternative asset management products and services. As of June 30, 2019, the company operated 1,994 branches in Germany and internationally. Deutsche Bank Aktiengesellschaft was founded in 1870 and is headquartered in Frankfurt am Main, Germany. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/16 21:08
End of Day Share Price2020/02/14 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.