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Deutsche Bank Ag (DE:DBK)
XETRA:DBK
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Deutsche Bank AG
(XETRA:DBK)
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Rating:69Neutral
Price Target:
€32.00
▼(-3.67% Downside)
Deutsche Bank AG's overall stock score is driven by strong earnings call performance and attractive valuation metrics. However, financial performance concerns, particularly in profitability and cash flow, and mixed technical indicators moderate the score.
Positive Factors
Strong Capital Position
A robust capital position with a high CET1 ratio enhances financial stability and allows for strategic investments, supporting long-term growth.
Growth Across Business Segments
Consistent growth across all business segments indicates a well-diversified revenue base, reducing reliance on any single market or product.
Operational Efficiency
Improved operational efficiency through cost-saving measures enhances profitability and competitiveness, supporting long-term sustainability.
Negative Factors
Negative EBIT Margin
A negative EBIT margin indicates challenges in maintaining profitability, which could affect long-term financial health if not addressed.
Cash Flow Concerns
Negative free cash flow suggests liquidity issues, potentially limiting the company's ability to invest in growth opportunities or manage debt.
Challenges in Commercial Real Estate
Ongoing challenges in commercial real estate could lead to increased provisions, impacting profitability and risk management in the long term.
Deutsche Bank AG (DBK) vs. iShares MSCI Germany ETF (EWG)
Market Cap
$61.83B
Dividend Yield2.04%
Average Volume (3M)3.18M
Price to Earnings (P/E)10.5
Beta (1Y)1.41
Revenue Growth-8.53%
EPS Growth62.77%
CountryDE
Employees89,687
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.85
Shares Outstanding1,910,579,000
10 Day Avg. Volume1,990,970
30 Day Avg. Volume3,183,847
Financial Highlights & Ratios
PEG Ratio-0.30
Price to Book (P/B)0.43
Price to Sales (P/S)1.17
P/FCF Ratio-1.14
Enterprise Value/Market Cap1.06
Enterprise Value/Revenue1.04
Enterprise Value/Gross Profit2.25
Enterprise Value/Ebitda8.11
Forecast
1Y Price Target
$36.02Price Target Upside8.42% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Deutsche Bank AG Business Overview & Revenue Model
Company DescriptionDeutsche Bank Aktiengesellschaft provides investment, financial, and related products and services to private individuals, corporate entities, and institutional clients worldwide. Its Corporate Bank segment provides cash management, trade finance and lending, trust and agency, foreign exchange, and securities services, as well as risk management solutions. The company's Investment Bank segment offers merger and acquisitions, and equity advisory services. This segment also focuses on financing, advisory, fixed income, risk management, sales and trading, and currencies. Its Private Bank segment provides payment and account services, and credit and deposit products, as well as investment advice, such as environmental, social, and governance products. This segment also provides wealth management, postal and parcel services, and digital offerings. The company's Asset Management segment provides investment solutions, such as alternative investments, which include real estate, infrastructure, private equity, liquid real assets, and sustainable investments; passive investments; and various services, including insurance and pension solutions, asset liability management, portfolio management solutions, asset allocation advisory, structuring, and overlay to institutions, governments, corporations and foundations, and individual investors. As of December 31, 2021, it operated 1,709 branches in 58 countries. The company was founded in 1870 and is headquartered in Frankfurt am Main, Germany.
How the Company Makes MoneyDeutsche Bank generates revenue primarily through its diversified business model which includes several key revenue streams. The Investment Bank segment earns money by providing advisory services for mergers and acquisitions, underwriting securities, and facilitating trading in the capital markets. The Corporate Bank focuses on transaction banking services, including payment processing and cash management, generating fees from corporate clients. The Private Bank offers wealth management and private banking services, earning fees from asset management and advisory services. Additionally, the Asset Management segment collects management fees based on the assets under management. The bank also benefits from strategic partnerships and collaborations that enhance its service offerings and market reach, contributing to its overall earnings.
Deutsche Bank AG Earnings Call Summary
Earnings Call Date:Oct 29, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Jan 29, 2026
Earnings Call Sentiment Positive
The earnings call presented a strong performance with record profitability, robust capital positions, and growth across all business segments. However, challenges remain in the commercial real estate sector, and noninterest expenses have increased. Overall, the positive aspects significantly outweigh the negative ones.Q3-2025 Updates
Positive Updates
Record Profitability and Revenue Growth
The company achieved record profitability in the first 9 months of 2025 with revenues of EUR 24.4 billion, tracking in line with the full-year goal of EUR 32 billion. Profit before tax rose by 36% year-on-year, and pre-provision profit was up nearly 50%.
Strong Capital Position
The CET1 ratio rose to 14.5%, supported by a share buyback program. Total capital distributions in 2025 reached EUR 2.3 billion, up around 50% over 2024.
Growth Across Business Segments
All four businesses delivered double-digit profit growth and double-digit RoTE in the first 9 months. Corporate Bank achieved a return on tangible equity of 16.2%, with strong fee growth of 5%. The Investment Bank saw a 19% increase in FIC revenues, and Private Bank profits rose by 71%.
Asset Management and Wealth Growth
Assets under management grew by EUR 40 billion year-to-date with net inflows of EUR 25 billion. Asset Management delivered a 25% return on tangible equity.
Negative Updates
Challenges in Commercial Real Estate
Provisions for commercial real estate remained elevated, affecting Stage 3 provisions. The company cited ongoing challenges, particularly in the West Coast office market in the U.S.
Noninterest Expense Increase
Third-quarter noninterest costs increased due to the nonrecurrence of a provision release related to the Postbank takeover litigation, leading to higher year-on-year expenses.
Company Guidance
During the Q3 2025 Analyst Conference Call, Deutsche Bank provided comprehensive guidance on its financial performance, revealing several key metrics. The bank reported a record profitability for the first nine months of 2025, with revenues of EUR 24.4 billion, aligning with its full-year target of around EUR 32 billion. Adjusted costs were at EUR 15.2 billion, and the post-tax return on tangible equity was 10.9%, both meeting their respective goals. The cost/income ratio stood at 63%, consistent with the target of below 65%. The CET1 ratio rose to 14.5% in the third quarter, reflecting robust capital generation. The bank completed a share buyback program worth EUR 250 million and aimed for total distributions exceeding EUR 8 billion between 2022 and 2026. Across its four business divisions, Deutsche Bank reported double-digit profit growth and return on tangible equity. The Corporate Bank and Private Bank demonstrated strong performance, with the latter seeing a 71% increase in profits over nine months. Asset Management also showed sustainable returns, driven by fee-based expansion and operational efficiency. Looking ahead, Deutsche Bank remains focused on achieving its 2025 strategic goals, supported by a strong capital position and anticipated economic tailwinds from German fiscal stimulus.Deutsche Bank AG Financial Statement Overview
Summary
Deutsche Bank AG shows revenue growth and a high gross profit margin, but faces challenges with negative EBIT margins and cash flow issues. The balance sheet is stable with adequate equity management, though leverage is high.Income Statement
Deutsche Bank AG's revenue has shown a consistent growth trajectory, with a 4.06% increase from 2023 to 2024. However, the EBIT margin turned negative in 2024, significantly impacting overall profitability. The net profit margin improved slightly to 11.20% in 2024 from the previous year, but the negative EBIT margin is a critical concern. The bank's gross profit margin remains high, reflecting strong revenue management.Balance Sheet
Deutsche Bank AG maintains a healthy equity base with an equity ratio of 5.61% in 2024. The debt-to-equity ratio stands at 1.95, indicating moderate leverage, typical for the banking industry. Return on Equity (ROE) improved to 4.33% in 2024, showcasing better utilization of equity capital compared to previous years. Overall, the balance sheet displays stability but is pressured by industry-standard leverage.Cash Flow
The cash flow statement highlights a significant decline in operating cash flow, resulting in negative free cash flow in 2024. The operating cash flow to net income ratio is concerning, indicating challenges in converting income into cash. Free cash flow has deteriorated, posing liquidity concerns and potential risks for future investments.| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 63.25B | 66.34B | 59.35B | 37.30B | 30.75B | 30.25B |
| Gross Profit | 29.23B | 28.22B | 27.37B | 25.43B | 24.79B | 22.18B |
| EBITDA | 8.10B | 5.29B | 5.68B | 5.59B | 3.39B | 1.02B |
| Net Income | 5.59B | 3.37B | 4.77B | 5.53B | 2.37B | 495.00M |
Balance Sheet | ||||||
| Total Assets | 1.40T | 1.39T | 1.31T | 1.34T | 1.32T | 1.33T |
| Cash, Cash Equivalents and Short-Term Investments | 185.48B | 187.89B | 213.43B | 211.54B | 222.74B | 224.99B |
| Total Debt | 135.99B | 224.35B | 144.22B | 195.47B | 156.19B | 204.03B |
| Total Liabilities | 1.32T | 1.31T | 1.24T | 1.26T | 1.26T | 1.26T |
| Stockholders Equity | 76.39B | 77.83B | 73.05B | 70.54B | 66.33B | 60.61B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -29.11B | 5.18B | -2.45B | -3.50B | 30.22B |
| Operating Cash Flow | 0.00 | -28.58B | 5.61B | -2.11B | -2.95B | 30.74B |
| Investing Cash Flow | 0.00 | -6.78B | -2.58B | -17.18B | 23.59B | -1.89B |
| Financing Cash Flow | 0.00 | -646.00M | -2.85B | 614.00M | 1.63B | -311.00M |
Deutsche Bank AG Technical Analysis
Positive
33.22
Price Trends
31.69
Positive
31.01
Positive
27.80
Positive
Market Momentum
0.57
Positive
58.17
Neutral
36.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:DBK, the sentiment is Positive. The current price of 33.22 is above the 20-day moving average (MA) of 32.75, above the 50-day MA of 31.69, and above the 200-day MA of 27.80, indicating a bullish trend. The MACD of 0.57 indicates Positive momentum. The RSI at 58.17 is Neutral, neither overbought nor oversold. The STOCH value of 36.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:DBK.
Deutsche Bank AG Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | €38.89B | 19.79 | 19.61% | 1.79% | 9.07% | 10.34% | |
75 Outperform | €39.35B | 15.57 | 8.78% | 1.82% | -2.40% | 19.42% | |
74 Outperform | €29.88B | 12.22 | 21.34% | 3.37% | 2.57% | 9.75% | |
71 Outperform | €68.98B | 11.31 | 19.40% | 3.56% | 0.48% | 11.17% | |
69 Neutral | $61.83B | 10.49 | 9.15% | 2.04% | -8.53% | 62.77% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | €29.22B | 12.47 | 19.49% | 2.37% | 3.70% | 24.02% |
* Financial Sector Average
DE:DBK
Deutsche Bank AG
33.22
16.59
99.72%
DE:CBK
Commerzbank
35.62
19.39
119.50%
DE:DB1
Deutsche Boerse
213.80
-8.50
-3.82%
DE:HNR1
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250.20
7.14
2.94%
DE:MUV2
Munich Reinsurance
532.60
64.21
13.71%
DE:TLX
Talanx AG
113.40
32.87
40.82%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.