Deutsche Bank Aktiengesellschaft

NYSE:DB Stock Report

Market Cap: US$65.7b

Deutsche Bank Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

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

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: DB ($34.69) is trading below our estimate of future cash flow value ($35.07)

Significantly Below Future Cash Flow Value: DB is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for DB. This is calculated by dividing DB's market cap by their current earnings.
What is DB's PE Ratio?
PE Ratio9.6x
Earnings€6.00b
Market Cap€57.52b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for DB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.3x
STT State Street
15.6x12.07%US$50.1b
ICE Intercontinental Exchange
20.4x6.34%US$79.1b
CME CME Group
20.9x3.32%US$88.8b
AMP Ameriprise Financial
12.1x6.41%US$47.5b
DB Deutsche Bank
9.6x6.97%US$57.5b

Price-To-Earnings vs Peers: DB is good value based on its Price-To-Earnings Ratio (9.6x) compared to the peer average (17.3x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

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

23 CompaniesPrice / EarningsEstimated GrowthMarket Cap
LCLN Lincoln International
3.7xn/aUS$2.25b
GAM General American Investors Company
4.7xn/aUS$1.54b
ASA ASA Gold and Precious Metals
1.4xn/aUS$903.51m
CSHR CoinShares
4.7xn/aUS$553.48m
DB 9.6xIndustry Avg. 39.7xNo. of Companies66PE020406080100+
23 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DB is good value based on its Price-To-Earnings Ratio (9.6x) compared to the US Capital Markets industry average (39.3x).

Price to Earnings Ratio vs Fair Ratio

What is DB'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.

DB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.6x
Fair PE Ratio18x

Price-To-Earnings vs Fair Ratio: DB is good value based on its Price-To-Earnings Ratio (9.6x) compared to the estimated Fair Price-To-Earnings Ratio (18x).

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 DB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$34.69
US$36.77
+5.99%
19.67%US$46.90US$12.47n/a17
Jul ’27US$33.86
US$36.02
+6.38%
20.14%US$45.51US$12.40n/a17
Jun ’27US$32.19
US$36.60
+13.70%
19.97%US$46.51US$12.67n/a17
May ’27US$31.11
US$37.39
+20.19%
19.41%US$46.95US$12.79n/a17
Apr ’27US$30.48
US$37.95
+24.51%
20.22%US$46.33US$12.62n/a17
Mar ’27US$35.42
US$39.94
+12.76%
19.92%US$47.48US$12.94n/a17
Feb ’27US$39.22
US$39.41
+0.49%
20.96%US$47.44US$12.93n/a17
Jan ’27US$38.56
US$36.74
-4.73%
22.86%US$45.82US$12.81n/a16
Dec ’26US$35.34
US$36.37
+2.91%
22.92%US$45.28US$12.65n/a16
Nov ’26US$35.77
US$34.75
-2.85%
22.18%US$44.96US$12.56n/a16
Oct ’26US$35.51
US$33.76
-4.93%
22.07%US$41.36US$12.92n/a15
Sep ’26US$35.13
US$32.28
-8.11%
21.77%US$39.54US$12.71n/a15
Aug ’26US$32.53
US$31.00
-4.69%
20.76%US$37.68US$12.48n/a15
Jul ’26US$28.71
US$27.75
-3.34%
19.27%US$34.27US$12.70US$33.8615
Jun ’26US$27.78
US$26.27
-5.44%
19.75%US$32.96US$12.34US$32.1914
May ’26US$26.40
US$25.04
-5.16%
21.06%US$31.90US$12.34US$31.1115
Apr ’26US$24.02
US$22.77
-5.19%
21.28%US$30.66US$11.80US$30.4815
Mar ’26US$21.49
US$20.55
-4.35%
16.97%US$25.72US$11.34US$35.4215
Feb ’26US$19.53
US$19.77
+1.22%
17.99%US$25.71US$11.30US$39.2215
Jan ’26US$17.05
US$18.98
+11.30%
19.66%US$24.19US$11.36US$38.5615
Dec ’25US$17.01
US$18.98
+11.60%
18.81%US$24.51US$11.52US$35.3415
Nov ’25US$17.05
US$19.46
+14.11%
18.76%US$25.14US$11.81US$35.7715
Oct ’25US$16.95
US$19.03
+12.29%
19.19%US$24.68US$12.07US$35.5116
Sep ’25US$16.40
US$19.71
+20.19%
38.32%US$47.62US$12.07US$35.1318
Aug ’25US$15.08
US$19.23
+27.55%
38.31%US$46.49US$11.78US$32.5318
Jul ’25US$16.61
US$18.82
+13.33%
38.87%US$46.17US$11.70US$28.7118
US$36.37
Fair Value
4.6% undervalued intrinsic discount
17
Number of Analysts

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 Analysis2026/07/20 06:50
End of Day Share Price 2026/07/20 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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.

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 Github.

Analyst Sources

Deutsche Bank Aktiengesellschaft is covered by 32 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Javier Esteban LarioBanco de Sabadell. S.A.
Jesús Gómez DominguezBanco Santander
Roberto de Aguiar AttuchBarclays