Deutsche Pfandbriefbank AG

DB:PBB Stock Report

Market Cap: €679.8m

Deutsche Pfandbriefbank Valuation

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

Below Fair Value: PBB (€5.06) is trading below our estimate of fair value (€6.68)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PBB. This is calculated by dividing PBB's market cap by their current earnings.
What is PBB's PE Ratio?
PE Ratio11x
Earnings€62.00m
Market Cap€679.77m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PBB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.7x
GLJ Grenke
9.6x25.2%€713.0m
HYQ Hypoport
47x30.4%€1.4b
MLP MLP
10x8.3%€642.7m
DBAN Deutsche Beteiligungs
24.4x54.1%€420.9m
PBB Deutsche Pfandbriefbank
11x35.3%€679.8m

Price-To-Earnings vs Peers: PBB is good value based on its Price-To-Earnings Ratio (11x) compared to the peer average (22.7x).

Price to Earnings Ratio vs Industry

How does PBB's PE Ratio compare vs other companies in the European Diversified Financial Industry?

7 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PBB 11.0xIndustry Avg. 10.7xNo. of Companies13PE01020304050+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PBB is expensive based on its Price-To-Earnings Ratio (11x) compared to the European Diversified Financial industry average (10.7x).

Price to Earnings Ratio vs Fair Ratio

What is PBB'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.

PBB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11x
Fair PE Ratio19.3x

Price-To-Earnings vs Fair Ratio: PBB is good value based on its Price-To-Earnings Ratio (11x) compared to the estimated Fair Price-To-Earnings Ratio (19.3x).

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 PBB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€5.06
€6.64
+31.2%
24.3%€8.90€5.00n/a5
Nov ’25€5.22
€6.54
+25.4%
25.5%€8.90€5.00n/a5
Oct ’25€6.00
€6.38
+6.3%
22.9%€8.20€5.00n/a5
Sep ’25€5.05
€6.36
+26.1%
23.2%€8.20€5.00n/a5
Aug ’25€5.09
€6.36
+25.0%
23.2%€8.20€5.00n/a5
Jul ’25€5.17
€6.03
+16.8%
24.7%€8.20€4.50n/a6
Jun ’25€5.69
€5.92
+4.1%
22.6%€8.00€4.50n/a6
May ’25€4.59
€5.47
+19.2%
31.0%€8.00€3.60n/a6
Apr ’25€4.92
€5.62
+14.2%
34.4%€8.90€3.60n/a6
Mar ’25€3.81
€6.68
+75.4%
32.1%€9.40€3.70n/a6
Feb ’25€5.48
€7.60
+38.7%
22.9%€9.40€4.70n/a6
Jan ’25€6.16
€7.68
+24.7%
23.9%€9.90€4.70n/a6
Dec ’24€5.69
€8.02
+40.9%
26.6%€10.50€4.70n/a6
Nov ’24€6.33
€8.72
+37.7%
20.9%€10.50€5.10€5.226
Oct ’24€6.75
€8.90
+31.9%
17.1%€10.50€6.10€6.006
Sep ’24€7.27
€8.98
+23.7%
17.4%€10.50€6.10€5.056
Aug ’24€7.49
€9.46
+26.3%
24.5%€13.00€6.10€5.095
Jul ’24€6.72
€9.46
+40.9%
24.5%€13.00€6.10€5.175
Jun ’24€7.13
€9.96
+39.7%
17.4%€13.00€8.00€5.695
May ’24€8.40
€10.32
+22.9%
20.1%€14.00€8.00€4.595
Apr ’24€8.04
€10.22
+27.1%
20.6%€14.00€8.00€4.925
Mar ’24€9.44
€9.90
+4.9%
21.3%€14.00€8.00€3.815
Feb ’24€8.43
€9.70
+15.1%
23.9%€14.00€7.00€5.485
Jan ’24€7.25
€9.54
+31.6%
25.2%€14.00€7.00€6.165
Dec ’23€7.56
€9.54
+26.3%
25.2%€14.00€7.00€5.695
Nov ’23€7.70
€11.36
+47.7%
20.7%€14.00€7.95€6.334

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

Discover undervalued companies

Yeahka

HK$4.2b

An investment holding company, provides payment and business services to merchants and consumers in the People’s Republic of China.

4YE

HK$1.19

7D

-2.5%

1Y

-30.0%

ORIX

JP¥3.8t

Provides diversified financial services in Japan, the United States, Asia, Europe, Australasia, and the Middle East.

OIX

JP¥20.20

7D

-1.0%

1Y

22.4%

Merchants Bancorp

US$1.9b

Operates as the diversified bank holding company in the United States.

3KD

US$39.00

7D

2.6%

1Y

28.3%