Deutsche Bank Aktiengesellschaft

NYSE:DB Stock Report

Market Cap: US$33.1b

Deutsche Bank Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: DB ($17.1) is trading below our estimate of fair value ($33.36)

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

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 Ratio8.1x
Earnings€3.89b
Market Cap€31.46b

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 Average35.2x
RJF Raymond James Financial
16.1x4.3%US$32.7b
STT State Street
14.6x13.5%US$28.0b
TW Tradeweb Markets
62.1x17.3%US$30.4b
NDAQ Nasdaq
47.8x17.3%US$45.3b
DB Deutsche Bank
8.1x13.4%US$31.5b

Price-To-Earnings vs Peers: DB is good value based on its Price-To-Earnings Ratio (8.1x) compared to the peer average (35.2x).

Price to Earnings Ratio vs Industry

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

22 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ADX Adams Diversified Equity Fund
4xn/aUS$2.46b
CET Central Securities
4.5xn/aUS$1.32b
GAM General American Investors Company
4.1xn/aUS$1.26b
MUDS Mudrick Capital Acquisition Corporation II
3.4xn/aUS$401.64m
DB 8.1xIndustry Avg. 23.4xNo. of Companies75PE020406080100+
22 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DB is good value based on its Price-To-Earnings Ratio (8.1x) compared to the US Capital Markets industry average (23.4x).

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 Ratio8.1x
Fair PE Ratio21.4x

Price-To-Earnings vs Fair Ratio: DB is good value based on its Price-To-Earnings Ratio (8.1x) compared to the estimated Fair Price-To-Earnings Ratio (21.4x).

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$17.10
US$18.91
+10.6%
18.6%US$24.39US$11.46n/a15
Nov ’25US$17.05
US$19.44
+14.0%
18.5%US$25.09US$11.79n/a15
Oct ’25US$16.95
US$19.17
+13.1%
19.0%US$24.83US$12.14n/a16
Sep ’25US$16.40
US$19.77
+20.5%
38.3%US$47.76US$12.11n/a18
Aug ’25US$15.08
US$19.23
+27.5%
38.3%US$46.49US$11.78n/a18
Jul ’25US$16.61
US$18.84
+13.4%
38.9%US$46.21US$11.71n/a18
Jun ’25US$16.68
US$18.99
+13.8%
38.8%US$46.65US$11.82n/a18
May ’25US$16.17
US$18.36
+13.6%
39.4%US$45.97US$11.65n/a18
Apr ’25US$15.71
US$17.08
+8.7%
44.5%US$46.55US$11.80n/a18
Mar ’25US$13.59
US$16.79
+23.6%
43.9%US$46.35US$11.75n/a19
Feb ’25US$13.60
US$16.33
+20.1%
46.7%US$46.74US$10.65n/a19
Jan ’25US$13.55
US$16.34
+20.6%
47.0%US$47.03US$10.72n/a19
Dec ’24US$12.59
US$16.29
+29.4%
47.0%US$46.80US$10.67n/a19
Nov ’24US$11.06
US$15.89
+43.6%
47.5%US$45.65US$10.40US$17.0519
Oct ’24US$10.99
US$15.90
+44.7%
48.5%US$45.78US$10.43US$16.9518
Sep ’24US$10.89
US$16.00
+46.9%
48.6%US$46.89US$10.69US$16.4019
Aug ’24US$11.00
US$16.13
+46.6%
48.7%US$47.40US$10.80US$15.0819
Jul ’24US$10.53
US$16.45
+56.3%
46.8%US$46.95US$11.47US$16.6119
Jun ’24US$10.32
US$16.18
+56.8%
45.9%US$46.46US$11.34US$16.6820
May ’24US$10.80
US$16.49
+52.7%
46.0%US$47.38US$11.57US$16.1720
Apr ’24US$10.21
US$16.62
+62.7%
44.1%US$46.64US$11.82US$15.7120
Mar ’24US$12.42
US$16.24
+30.8%
44.1%US$45.36US$11.50US$13.5920
Feb ’24US$13.49
US$15.91
+17.9%
47.0%US$46.64US$10.30US$13.6020
Jan ’24US$11.52
US$15.31
+32.9%
49.1%US$45.64US$10.08US$13.5519
Dec ’23US$10.42
US$14.90
+43.0%
49.9%US$44.77US$9.89US$12.5919
Nov ’23US$9.61
US$13.73
+42.9%
53.9%US$42.85US$5.78US$11.0619

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

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