Loading...

Deutsche Bank

DB:DBK
Snowflake Description

Moderate growth potential with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DBK
DB
€14B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Deutsche Bank Aktiengesellschaft provides investment, financial, and related products and services to private individuals, corporate entities, and institutional clients worldwide. The last earnings update was 25 days ago. More info.


Add to Portfolio Compare Print
DBK Share Price and Events
7 Day Returns
-2.7%
DB:DBK
0.4%
DE Capital Markets
0.3%
DE Market
1 Year Returns
-39%
DB:DBK
-15%
DE Capital Markets
-11.6%
DE Market
DBK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Deutsche Bank (DBK) -2.7% -14.4% -12.7% -39% -56.8% -77.8%
DE Capital Markets 0.4% -4.9% 2.2% -15% -18.8% -48.2%
DE Market 0.3% -3.8% 2.5% -11.6% 10.1% 7.9%
1 Year Return vs Industry and Market
  • DBK underperformed the Capital Markets industry which returned -15% over the past year.
  • DBK underperformed the Market in Germany which returned -11.6% over the past year.
Price Volatility
DBK
Industry
5yr Volatility vs Market

Value

 Is Deutsche Bank undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Deutsche Bank to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Deutsche Bank.

DB:DBK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 15 analysts.
= Stable Book Value * Return on Equity
= €30.72 * 2.6%
€0.81
Book Value of Equity per Share Weighted future Book Value estimates from 12 analysts. €30.72
Discount Rate (Cost of Equity) See below 12.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:DBK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.7
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.701 (1 + (1- 30%) (3584.5%))
12.586
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (2 * 5.96%)
12.15%

Discounted Cash Flow Calculation for DB:DBK using Excess Returns Model Model

The calculations below outline how an intrinsic value for Deutsche Bank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:DBK Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (2.6% – 12.15%) * €30.72)
€-2.92
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €-2.92 / (12.15% - 0.23%)
€-24.50
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €30.72 + €-24.50
€6.22
DB:DBK Discount to Share Price
Calculation Result
Value per share (EUR) From above. €6.22
Current discount Discount to share price of €6.71
= -1 x (€6.71 - €6.22) / €6.22
-8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Deutsche Bank is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Deutsche Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Deutsche Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:DBK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €0.02
DB:DBK Share Price ** DB (2019-05-21) in EUR €6.71
Germany Capital Markets Industry PE Ratio Median Figure of 19 Publicly-Listed Capital Markets Companies 19.75x
Germany Market PE Ratio Median Figure of 423 Publicly-Listed Companies 20.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Deutsche Bank.

DB:DBK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= DB:DBK Share Price ÷ EPS (both in EUR)

= 6.71 ÷ 0.02

427.83x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Deutsche Bank is overvalued based on earnings compared to the DE Capital Markets industry average.
  • Deutsche Bank is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Deutsche Bank's expected growth come at a high price?
Raw Data
DB:DBK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 427.83x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
60.2%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 8 Publicly-Listed Capital Markets Companies 2.53x
Germany Market PEG Ratio Median Figure of 272 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

DB:DBK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 427.83x ÷ 60.2%

7.11x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Deutsche Bank is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Deutsche Bank's assets?
Raw Data
DB:DBK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €32.76
DB:DBK Share Price * DB (2019-05-21) in EUR €6.71
Germany Capital Markets Industry PB Ratio Median Figure of 30 Publicly-Listed Capital Markets Companies 1.71x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.79x
DB:DBK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= DB:DBK Share Price ÷ Book Value per Share (both in EUR)

= 6.71 ÷ 32.76

0.2x

* Primary Listing of Deutsche Bank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Deutsche Bank is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Deutsche Bank's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Deutsche Bank has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Deutsche Bank expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
60.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Deutsche Bank expected to grow at an attractive rate?
  • Deutsche Bank's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Deutsche Bank's earnings growth is expected to exceed the Germany market average.
  • Deutsche Bank's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:DBK Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:DBK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts 60.2%
DB:DBK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts 2.1%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 25.7%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:DBK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:DBK Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 25,598 2,159 13
2020-12-31 25,127 1,420 17
2019-12-31 24,575 851 15
DB:DBK Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 24,154 33
2018-12-31 24,832 -37,303 -25
2018-09-30 25,101 -4,578 -2,025
2018-06-30 25,608 -18,446 -1,589
2018-03-31 25,643 8,118 -1,500
2017-12-31 25,926 4,975 -1,049
2017-09-30 27,000 44,210 -514
2017-06-30 27,575 65,447 -905
2017-03-31 28,161 53,692 -1,321
2016-12-31 28,629 85,847 -1,678
2016-09-30 28,096 56,582 -1,908
2016-06-30 28,052 99,204 -8,177

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Deutsche Bank's earnings are expected to grow significantly at over 20% yearly.
  • Deutsche Bank's revenue is expected to grow by 2.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:DBK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below

All data from Deutsche Bank Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:DBK Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.00 1.48 0.70 12.00
2020-12-31 0.72 0.91 0.45 14.00
2019-12-31 0.45 0.57 0.24 12.00
DB:DBK Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 0.02
2018-12-31 -0.01
2018-09-30 -0.96
2018-06-30 -0.76
2018-03-31 -0.70
2017-12-31 -0.53
2017-09-30 -0.26
2017-06-30 -0.51
2017-03-31 -0.85
2016-12-31 -1.08
2016-09-30 -1.38
2016-06-30 -5.90

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Deutsche Bank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Deutsche Bank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Deutsche Bank has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Deutsche Bank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Deutsche Bank's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Deutsche Bank's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Deutsche Bank has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Deutsche Bank has become profitable in the last year making it difficult to compare the DE Capital Markets industry average.
Earnings and Revenue History
Deutsche Bank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Deutsche Bank Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:DBK Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 24,154.00 33.00 22,223.00
2018-12-31 24,832.00 -25.00 22,745.00
2018-09-30 25,101.00 -2,025.00 23,747.00
2018-06-30 25,608.00 -1,589.00 23,791.00
2018-03-31 25,643.00 -1,500.00 23,829.00
2017-12-31 25,926.00 -1,049.00 23,829.00
2017-09-30 27,000.00 -514.00 23,477.00
2017-06-30 27,575.00 -905.00 23,829.00
2017-03-31 28,161.00 -1,321.00 24,218.00
2016-12-31 28,629.00 -1,678.00 24,734.00
2016-09-30 28,096.00 -1,908.00 25,390.00
2016-06-30 28,052.00 -8,177.00 25,778.00
2016-03-31 29,953.00 -7,352.00 26,273.00
2015-12-31 32,348.00 -7,022.00 26,707.00
2015-09-30 34,114.00 -4,464.00 25,968.00
2015-06-30 34,588.00 1,455.00 26,042.00
2015-03-31 33,170.00 1,124.00 25,574.00
2014-12-31 30,815.00 1,663.00 25,566.00
2014-09-30 29,195.00 -135.00 24,874.00
2014-06-30 28,831.00 0.00 24,380.00
2014-03-31 28,964.00 98.00 24,427.00
2013-12-31 29,849.00 666.00 24,455.00
2013-09-30 31,447.00 -503.00 24,751.00
2013-06-30 32,309.00 204.00 24,679.00
2013-03-31 32,169.00 526.00 25,389.00
2012-12-31 32,020.00 237.00 25,917.00
2012-09-30 30,935.00 2,939.00 24,434.00
2012-06-30 29,694.00 2,916.00 24,672.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Deutsche Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Deutsche Bank used its assets less efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if Deutsche Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Deutsche Bank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Deutsche Bank has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Deutsche Bank's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Deutsche Bank's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Deutsche Bank's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Deutsche Bank's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Deutsche Bank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Deutsche Bank Company Filings, last reported 1 month ago.

DB:DBK Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 69,194.00 494,882.00 693,025.00
2018-12-31 68,738.00 530,983.00 729,361.00
2018-09-30 68,787.00 544,312.00 746,476.00
2018-06-30 68,861.00 570,148.00 780,975.00
2018-03-31 68,025.00 577,578.00 832,276.00
2017-12-31 68,099.00 611,421.00 853,229.00
2017-09-30 70,610.00 600,164.00 853,878.00
2017-06-30 71,210.00 649,354.00 890,626.00
2017-03-31 64,852.00 683,162.00 881,638.00
2016-12-31 64,819.00 746,089.00 920,361.00
2016-09-30 66,727.00 789,082.00 935,098.00
2016-06-30 66,809.00 921,917.00 1,085,811.00
2016-03-31 66,548.00 813,170.00 965,923.00
2015-12-31 67,624.00 742,621.00 907,391.00
2015-09-30 68,879.00 786,525.00 966,884.00
2015-06-30 75,736.00 759,338.00 937,360.00
2015-03-31 77,931.00 983,388.00 1,158,267.00
2014-12-31 73,223.00 852,838.00 975,497.00
2014-09-30 70,107.00 805,749.00 969,556.00
2014-06-30 68,402.00 786,316.00 953,397.00
2014-03-31 56,017.00 770,872.00 927,602.00
2013-12-31 54,967.00 787,065.00 969,506.00
2013-09-30 56,765.00 876,964.00 1,076,132.00
2013-06-30 57,735.00 960,347.00 1,169,396.00
2013-03-31 56,078.00 1,067,485.00 1,290,199.00
2012-12-31 54,410.00 1,126,172.00 1,341,092.00
2012-09-30 57,408.00 1,201,238.00 1,423,840.00
2012-06-30 56,358.00 1,243,939.00 1,460,228.00
  • Deutsche Bank's level of debt (715.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (1373.1% vs 715.2% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Deutsche Bank's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Deutsche Bank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Deutsche Bank has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.64%
Current annual income from Deutsche Bank dividends. Estimated to be 3.23% next year.
If you bought €2,000 of Deutsche Bank shares you are expected to receive €33 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Deutsche Bank's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Deutsche Bank's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
Upcoming dividend payment

Purchase Deutsche Bank before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:DBK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 2.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:DBK Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.33 13.00
2020-12-31 0.21 18.00
2019-12-31 0.13 15.00
DB:DBK Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-22 0.110 1.507
2018-03-16 0.110 1.195
2017-03-20 0.110 0.732
2017-02-02 0.000 0.000
2016-10-27 0.000 0.000
2016-07-27 0.000 0.000
2016-04-28 0.000 0.000
2016-04-07 0.000 0.000
2016-03-11 0.000 0.000
2015-03-20 0.750 3.113
2014-03-20 0.750 2.764
2013-03-21 0.750 2.182
2012-07-31 0.750 2.303
2012-03-20 0.750 2.521
2012-02-03 0.750 2.146
2011-11-03 0.750 2.594
2011-11-02 0.750 2.588
2011-05-13 0.750 2.360
2011-05-05 0.750 1.764
2011-03-22 0.750 1.788
2011-03-15 0.750 1.841
2011-02-03 0.750 1.647
2011-01-13 0.750 1.717
2010-03-16 0.750 1.621
2010-01-04 0.750 1.569

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Deutsche Bank has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Deutsche Bank has only been paying a dividend for 9 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Deutsche Bank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.5x coverage).
X
Income/ dividend checks
We assess Deutsche Bank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Deutsche Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Deutsche Bank has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Deutsche Bank's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Christian Sewing
COMPENSATION €4,262,666
AGE 48
TENURE AS CEO 1.1 years
CEO Bio

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 serves as Chairman of Supervisory board at DB Privat- und Firmenkundenbank AG, formerly known as Deutsche Bank Privat- und Geschäftskunden AG since June 11, 2015. Mr. Sewing served as President of Deutsche Bank Aktiengesellschaft from March 5, 2017 to April 8, 2018. Mr. Sewing served as Co-Head of Private and Commercial Banking at Deutsche Bank Aktiengesellschaft until April 8, 2018. Mr. Sewing served as Deputy Chief Executive Officer at Deutsche Bank AG since March 13, 2017. Mr. Sewing served as Head of Private, Wealth and Commercial Clients at Deutsche Bank AG since January 2016. Mr. Sewing was Global Head of Group Audit and held a number of positions before that in Risk, including Deputy Chief Risk Officer (from 2012 to 2013) and Chief Credit Officer (from 2010 to 2012) of Deutsche Bank. Mr. Sewing's initial focus was on integrating ORM more closely with other functions within Deutsche Bank AG and preparing the implementation of the new Capital Accord (Basel II) for ORM. He served as a Member of the Management Board of Deutsche Genossenschafts Hypothekenbank AG from March 1, 2005 to March 8, 2007. He joined Deutsche Bank AG in 1989 and has worked within Deutsche Bank AG's Global Banking Division in Hamburg and Corporate Finance in Toronto. He has been a Member of Supervisory Board at Deutsche Postbank AG since May 9, 2012. He served as a Member of Supervisory Board at BHF-Bank Aktiengesellschaft until March 26, 2014. Mr. Sewing served as a Member of the Supervisory Board at Düsseldorfer Hypothekenbank AG until December 7, 2010. He completed a bank apprenticeship at Deutsche Bank in 1989. Mr. Sewing received a Diploma from the Bankakademie Bielefeld and Hamburg.

CEO Compensation
  • Christian's compensation has increased in line with Deutsche Bank recently becoming profitable.
  • Christian's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Deutsche Bank management team in years:

1.7
Average Tenure
51
Average Age
  • The average tenure for the Deutsche Bank management team is less than 2 years, this suggests a new team.
Management Team

Christian Sewing

TITLE
CEO & Chairman of Management Board
COMPENSATION
€4M
AGE
48
TENURE
1.1 yrs

Karl von Rohr

TITLE
Deputy CEO
COMPENSATION
€4M
AGE
53
TENURE
1.1 yrs

Garth Ritchie

TITLE
Deputy CEO
COMPENSATION
€7M
AGE
50
TENURE
1.1 yrs

James von Moltke

TITLE
CFO & Member of Management Board
COMPENSATION
€5M
AGE
49
TENURE
2.1 yrs

Stuart Lewis

TITLE
Chief Risk Officer & Member of Management Board
COMPENSATION
€5M
AGE
53
TENURE
6.9 yrs

Sylvie Matherat

TITLE
Chief Regulatory Officer & Member of Management Board
COMPENSATION
€3M
AGE
56
TENURE
3.5 yrs

Frank Strauß

TITLE
Head of Private & Commercial Bank & Member of the Management Board
COMPENSATION
€3M
AGE
48
TENURE
1.7 yrs

Werner Steinmüller

TITLE
Regional CEO of Asia Pacific & Member of Management Board
AGE
64
TENURE
2.8 yrs

Frank Kunke

TITLE
COO & Member of the Management Board
AGE
51
TENURE
1.1 yrs

Andreas Loetscher

TITLE
Chief Accounting Officer
Board of Directors Tenure

Average tenure and age of the Deutsche Bank board of directors in years:

4.5
Average Tenure
61
Average Age
  • The tenure for the Deutsche Bank board of directors is about average.
Board of Directors

Paul M. Achleitner

TITLE
Supervisory Board Chairman
AGE
62
TENURE
7 yrs

Detlef Polaschek

TITLE
Deputy Chairman of the Supervisory Board
AGE
58
TENURE
1 yrs

Borislav Ivanov-Blankenburg

TITLE
Chairman & Chief Country Officer of Deutsche Bank Russia
TENURE
1.9 yrs

Mayree Clark

TITLE
Member of Supervisory Board
AGE
61
TENURE
1 yrs

Norbert Winkeljohann

TITLE
Member of Supervisory Board
AGE
61
TENURE
0.8 yrs

Gabriele Platscher

TITLE
Employee Representative Member of Supervisory Board
AGE
61
TENURE
15.9 yrs

Henriette Mark

TITLE
Employee Representative Member of Supervisory Board
AGE
61
TENURE
15.9 yrs

Ben Griswold

TITLE
Member of Americas Advisory Board
AGE
77

Lynn Martin

TITLE
Member of Americas Advisory Board
AGE
78
TENURE
11.3 yrs

Tony Deering

TITLE
Member of Americas Advisory Board
AGE
73
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
28. Mar 19 Sell C-Quadrat Special Situations Dedicated Fund Company 25. Mar 19 27. Mar 19 -5,896,503 €16.79 €-98,753,593
15. Mar 19 Sell C-Quadrat Special Situations Dedicated Fund Company 04. Mar 19 15. Mar 19 -25,433,230 €14.75 €-338,001,118
15. Feb 19 Sell C-Quadrat Special Situations Dedicated Fund Company 28. Jan 19 15. Feb 19 -26,751,466 €14.81 €-322,304,081
X
Management checks
We assess Deutsche Bank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Deutsche Bank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Should You Buy Deutsche Bank Aktiengesellschaft (FRA:DBK) At €9.31?

This high level of volatility gives investors the opportunity to enter into the stock, and potentially buy at an artificially low price? … A question to answer is whether Deutsche Bank's current trading price of €9.31 reflective of the actual value of the? … Let’s take a look at Deutsche Bank’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Deutsche Bank Aktiengesellschaft's (FRA:DBK) Path To Profitability

Deutsche Bank Aktiengesellschaft provides investment, financial, and related products and services to private individuals, corporate entities, and institutional clients worldwide. … The company’s loss has recently broadened since it announced a -€1.05b loss in the full financial year, compared to the latest trailing-twelve-month loss of -€1.50b, moving it further away from breakeven. … I’ve put together a brief outline of industry analyst expectations for DBK, its year of breakeven and its implied growth rate.

Simply Wall St -

Before You Buy Deutsche Bank Aktiengesellschaft's (FRA:DBK), Consider This

A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … Therefore, this is a type of risk which is associated with higher beta. … However, this is the opposite to what DBK’s actual beta value suggests, which is higher stock volatility relative to the market.

Simply Wall St -

Want To Invest In Deutsche Bank Aktiengesellschaft (FRA:DBK)? Here's How It Performed Lately

Today I will take a look at Deutsche Bank Aktiengesellschaft's (DB:DBK) most recent earnings update (31 December 2017) and compare these latest figures against its performance over the past few years, as well as how the rest of the capital markets industry performed. … Check out our latest analysis for Deutsche Bank Did DBK's recent earnings growth beat the long-term trend and the industry? … Each year, for the past five years Deutsche Bank's revenue growth has been fairly muted, with an annual growth rate of -1.66%, on average.

Simply Wall St -

Deutsche Bank Aktiengesellschaft (FRA:DBK) Is Trading At A 4% Discount

Looking at elements such as book values, along with the return and cost of equity, is practical for gauging DBK’s value. … The returns above the cost of equity is known as excess returns: Excess Return Per Share = (Stable Return On Equity – Cost Of Equity) (Book Value Of Equity Per Share) = (4.61% – 11.53%) * €32.06 = €-2.22 Excess Return Per Share is used to calculate the terminal value of DBK, which is how much the business is expected to continue to generate over the upcoming years, in perpetuity. … This is a common component of discounted cash flow models: Terminal Value Per Share = Excess Return Per Share / (Cost of Equity – Expected Growth Rate) = €-2.22 / (11.53% – 0.67%) = €-20.43 These factors are combined to calculate the true value of DBK's stock: Value Per Share = Book Value of Equity Per Share + Terminal Value Per Share = €32.06 + €-20.43 = €11.63 Compared to the current share price of €11.22, DBK is fairly priced by the market.

Simply Wall St -

When Can We Expect A Profit From Deutsche Bank Aktiengesellschaft (FRA:DBK)?

In this article, I will touch on the expectations for DBK’s growth and when analysts expect the company to become profitable. … It turns out an average annual growth rate of 45.48% is expected, which signals high confidence from analysts. … DB:DBK Past Future Earnings Mar 20th 18 Underlying developments driving DBK’s growth isn’t the focus of this broad overview, though, take into account that typically a high forecast growth rate is not unusual for a company that is currently undergoing an investment period.

Simply Wall St -

Should You Buy Deutsche Bank Aktiengesellschaft (FRA:DBK) Now?

A question to answer is whether Deutsche Bank's current trading price of €13.08 reflective of the actual value of the large-cap? … Can we expect growth from Deutsche Bank? … DBK’s optimistic future growth appears to have been factored into the current share price, with shares trading above its fair value.

Simply Wall St -

Company Info

Description

Deutsche Bank Aktiengesellschaft provides investment, financial, and related products and services to private individuals, corporate entities, and institutional clients worldwide. It operates through three segments: Corporate & Investment Bank (CIB), Private & Commercial Bank (PCB), and Asset Management. The CIB segment offers financial market products, such as bonds, equities and equity-linked products, exchange-traded and over-the-counter derivatives, foreign exchange, money market instruments, and structured products. This segment also offers commercial banking, mergers and acquisitions, debt and equity advisory and origination, and cash management services; and trade finance and securities services. The PCB segment offers payment and account services, and credit and deposit products, as well as investment advice and digital services. This segment also provides wealth management solutions and private banking services, including discretionary portfolio management and traditional and alternative investment solutions. The Asset Management segment invests in equities, fixed income, liquidity, real estate, infrastructure, private equity, and sustainable investments; and delivers alpha and beta solutions. As of December 31, 2018, the company operated 2,064 branches in 59 countries. Deutsche Bank Aktiengesellschaft was founded in 1870 and is headquartered in Frankfurt am Main, Germany.

Details
Name: Deutsche Bank Aktiengesellschaft
DBK
Exchange: DB
Founded: 1870
€13,806,151,405
2,064,934,401
Website: http://www.db.com
Address: Deutsche Bank Aktiengesellschaft
Taunusanlage 12,
Frankfurt am Main,
Hessen, 60325,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB DBK Common Shares Deutsche Boerse AG DE EUR 02. Jan 1992
NYSE DB Common Shares New York Stock Exchange US USD 02. Jan 1992
XTRA DBK Common Shares XETRA Trading Platform DE EUR 02. Jan 1992
LSE 0H7D Common Shares London Stock Exchange GB EUR 02. Jan 1992
SWX DBK Common Shares SIX Swiss Exchange CH CHF 02. Jan 1992
BIT DBK Common Shares Borsa Italiana IT EUR 02. Jan 1992
WBAG DBK Common Shares Wiener Boerse AG AT EUR 02. Jan 1992
SEP DBK Common Shares The Stock Exchange Prague Co. Ltd. CZ CZK 02. Jan 1992
BUSE DEUTSCHEBANK Common Shares Budapest Stock Exchange HU HUF 02. Jan 1992
BMV DB N Common Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1992
BATS-CHIXE DBKD Common Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
BOVESPA DBAG34 BDR EACH REP 1 NPV(REGD) Bolsa de Valores de Sao Paulo BR BRL 17. May 2019
Number of employees
Current staff
Staff numbers
91,463
Deutsche Bank employees.
Industry
Diversified Capital Markets
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 20:59
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/21
Last earnings filing: 2019/04/26
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.