Moody's Corporation

DB:DUT Stock Report

Market Cap: €83.7b

Moody's Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • 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 DUT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: DUT (€453.1) is trading above our estimate of fair value (€305.02)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for DUT. This is calculated by dividing DUT's market cap by their current earnings.
What is DUT's PE Ratio?
PE Ratio43.5x
EarningsUS$2.00b
Market CapUS$87.11b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for DUT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20x
DB1 Deutsche Börse
21.4x4.6%€39.5b
DBK Deutsche Bank
7.8x13.4%€30.2b
DWS DWS Group GmbH KGaA
13.2x12.7%€7.9b
ICE Intercontinental Exchange
37.7x11.4%US$91.5b
DUT Moody's
43.5x9.3%€87.1b

Price-To-Earnings vs Peers: DUT is expensive based on its Price-To-Earnings Ratio (43.5x) compared to the peer average (20x).

Price to Earnings Ratio vs Industry

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

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AR4 AURELIUS Equity Opportunities SE KGaA
3.9xn/aUS$406.78m
HXCK Ernst Russ
3.8x-18.2%US$206.28m
VG8 Varengold Bank
1.8xn/aUS$24.05m
XE8 Black Sea Property
0.7xn/aUS$7.68m
No more companies available in this PE range
DUT 43.5xIndustry Avg. 20.3xNo. of Companies6PE01632486480+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DUT is expensive based on its Price-To-Earnings Ratio (43.5x) compared to the German Capital Markets industry average (20.3x).

Price to Earnings Ratio vs Fair Ratio

What is DUT'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.

DUT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio43.5x
Fair PE Ratio21.8x

Price-To-Earnings vs Fair Ratio: DUT is expensive based on its Price-To-Earnings Ratio (43.5x) compared to the estimated Fair Price-To-Earnings Ratio (21.8x).

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 DUT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€453.10
€477.33
+5.3%
9.0%€547.37€398.52n/a19
Nov ’25€423.30
€457.98
+8.2%
9.7%€527.14€365.30n/a19
Oct ’25€423.10
€434.61
+2.7%
8.1%€514.94€356.84n/a19
Sep ’25€439.40
€429.07
-2.4%
8.0%€481.98€350.12n/a19
Aug ’25€420.10
€430.36
+2.4%
8.8%€489.67€355.70n/a18
Jul ’25€392.90
€384.29
-2.2%
7.0%€422.81€335.27n/a18
Jun ’25€363.20
€377.02
+3.8%
6.5%€414.32€331.45n/a18
May ’25€347.70
€381.35
+9.7%
7.2%€422.42€323.85n/a19
Apr ’25€359.00
€370.28
+3.1%
7.9%€418.95€316.54n/a19
Mar ’25€349.00
€367.79
+5.4%
7.9%€416.34€314.57n/a19
Feb ’25€361.00
€361.40
+0.1%
9.6%€420.10€309.31n/a19
Jan ’25€352.00
€331.38
-5.9%
9.6%€409.73€265.65n/a19
Dec ’24€333.00
€331.46
-0.5%
7.7%€377.91€285.05n/a19
Nov ’24€293.00
€336.31
+14.8%
7.1%€387.12€291.99€423.3019
Oct ’24€300.00
€348.88
+16.3%
6.8%€393.29€304.33€423.1019
Sep ’24€310.00
€341.70
+10.2%
6.8%€384.97€297.90€439.4019
Aug ’24€319.00
€339.75
+6.5%
6.7%€382.41€295.91€420.1020
Jul ’24€315.00
€307.04
-2.5%
8.2%€368.04€254.87€392.9020
Jun ’24€295.00
€306.02
+3.7%
6.6%€334.80€257.61€363.2019
May ’24€281.00
€297.66
+5.9%
7.3%€326.70€251.38€347.7018
Apr ’24€274.50
€309.58
+12.8%
7.8%€341.32€262.62€359.0017
Mar ’24€270.00
€303.36
+12.4%
8.2%€336.02€258.55€349.0017
Feb ’24€294.50
€290.39
-1.4%
8.2%€324.07€252.15€361.0017
Jan ’24€263.30
€272.38
+3.4%
5.9%€308.88€243.36€352.0017
Dec ’23€285.65
€274.62
-3.9%
5.9%€302.34€239.95€333.0017
Nov ’23€267.80
€280.59
+4.8%
7.2%€316.13€239.86€293.0017

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

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