Deutsche Bank Ag (DE:DBK)
XETRA:DBK
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Deutsche Bank AG
(XETRA:DBK)
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Rating:69Neutral
Price Target:
€36.00
▲(24.52% Upside)
Action:ReiteratedDate:01/30/26
The score is supported by a strong and constructive earnings call (record 2025 performance, clear 2026 guidance and capital return plan) and reasonable valuation. This is tempered by weaker underlying financial statement quality driven by negative EBIT margin and negative free cash flow, while technicals point to a longer-term uptrend but near-term consolidation.
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.
Negative Factors
Negative EBIT Margin
A negative EBIT margin indicates challenges in maintaining profitability, which could affect long-term financial health if not addressed.
Read all positive and negative factors
Positive Factors
Negative 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.
Read all positive factors
Deutsche Bank AG (DBK) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€50.19B
Dividend Yield2.04%
Average Volume (3M)7.28M
Price to Earnings (P/E)9.3
Beta (1Y)1.38
Revenue Growth-7.16%
EPS Growth75.30%
CountryDE
Employees89,687
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.06
Shares Outstanding1,910,579,000
10 Day Avg. Volume6,412,594
30 Day Avg. Volume7,283,257
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)0.82
Price to Sales (P/S)1.06
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€34.68Price Target Upside19.95% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)3.3
Revenue Forecast (FY)€32.70B
Deutsche Bank AG Business Overview & Revenue Model
Company Description
Deutsche 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 ...
How the Company Makes Money
Deutsche 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 securiti...
Deutsche Bank AG Earnings Call Summary
Earnings Call Date:Jan 29, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Positive
The call presented a strongly positive operational and financial performance for 2025 — record profits, revenue growth, material cost savings, improved capital generation and increased shareholder returns — and management provided constructive guidance for 2026 (revenue and NII growth, modestly higher costs tied to targeted investments). Key risks highlighted include remaining CRE exposure and idiosyncratic credit events, regulatory/legal inquiries, and near-term normalization in some revenue lines; however, management expects provisions to trend down and capital to remain robust. On balance, the company's concrete delivery in 2025, clear capital distribution plan, and targeted roadmap for 2026–2028 outweigh the identified lowlights.Positive Updates
Record Profitability and Return on Equity
Pretax profit of EUR 9.7 billion (up 84% year-on-year) and net profit of EUR 7.1 billion in 2025; post-tax return on tangible equity 10.3%, meeting the >10% full-year target and positioning the bank toward its >13% by 2028 objective.
Negative Updates
Quarterly CET1 Reduction and One-off Capital Headwinds
Quarter-on-quarter CET1 ratio decreased by 30 basis points in Q4 2025, including a 44 bps reduction from one-off effects such as discontinuation of the transitional OCI rule (‑27 bps) and an annual operational RWA update (‑17 bps); higher market RWAs reduced CET1 by a further 9 bps (partially offset by 21 bps capital generation).
Read all updates
Q4-2025 Updates
Positive
Negative
Record Profitability and Return on Equity
Pretax profit of EUR 9.7 billion (up 84% year-on-year) and net profit of EUR 7.1 billion in 2025; post-tax return on tangible equity 10.3%, meeting the >10% full-year target and positioning the bank toward its >13% by 2028 objective.
Read all positive updates
Company Guidance
Management guided 2026 revenues of around EUR 33bn (Q1 baseline: flat y/y) with banking‑book NII rising to about EUR 14bn—supported by structural hedge rollover (c. EUR 500m) and deposit/loan growth—and modest fee growth; they expect non‑interest expenses to be slightly above EUR 21bn in 2026, including ~EUR 900m of incremental investments (part of a $1.5bn three‑year program). The bank reiterated targets to improve the cost/income ratio from 64% in 2025 to below 60% by 2028 and to raise post‑tax RoTE from 10.3% (2025) to >13% by 2028, expects provisions to trend moderately down toward a ~30bp run‑rate, starts 2026 with CET1 14.2% (operating range ~13.5–14%), plans a 60% payout ratio in 2026 and flagged potential additional buybacks in H2 2026.Deutsche Bank AG Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
65
Positive
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 60.89B | 66.34B | 59.35B | 37.30B | 30.75B |
| Gross Profit | 30.41B | 28.22B | 27.37B | 25.43B | 24.79B |
| EBITDA | 9.72B | 5.29B | 5.68B | 5.59B | 3.39B |
| Net Income | 6.93B | 3.37B | 4.77B | 5.53B | 2.37B |
Balance Sheet | |||||
| Total Assets | 1.44T | 1.39T | 1.31T | 1.34T | 1.32T |
| Cash, Cash Equivalents and Short-Term Investments | 355.98B | 187.89B | 213.43B | 211.54B | 222.74B |
| Total Debt | 358.91B | 224.35B | 144.22B | 195.47B | 156.19B |
| Total Liabilities | 1.35T | 1.31T | 1.24T | 1.26T | 1.26T |
| Stockholders Equity | 78.64B | 77.83B | 73.05B | 70.54B | 66.33B |
Cash Flow | |||||
| Free Cash Flow | 0.00 | -29.11B | 5.18B | -2.45B | -3.50B |
| Operating Cash Flow | 0.00 | -28.58B | 5.61B | -2.11B | -2.95B |
| Investing Cash Flow | 0.00 | -6.78B | -2.58B | -17.18B | 23.59B |
| Financing Cash Flow | 0.00 | -646.00M | -2.85B | 614.00M | 1.63B |
Deutsche Bank AG Technical Analysis
Positive
28.91
Price Trends
28.01
Positive
30.22
Negative
30.00
Negative
Market Momentum
0.24
Negative
61.89
Neutral
91.91
Negative
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 28.91 is above the 20-day moving average (MA) of 26.39, above the 50-day MA of 28.01, and below the 200-day MA of 30.00, indicating a neutral trend. The MACD of 0.24 indicates Negative momentum. The RSI at 61.89 is Neutral, neither overbought nor oversold. The STOCH value of 91.91 is Negative, 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | €47.67B | 20.53 | 18.22% | 1.79% | 5.21% | 2.78% | |
69 Neutral | €50.19B | 9.34 | 8.87% | 2.04% | -7.16% | 75.30% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | €11.72B | 5.49 | 10.11% | 3.91% | 21.42% | 42.84% | |
63 Neutral | €3.48B | 25.23 | 18.79% | 0.11% | 16.62% | 45.52% | |
57 Neutral | €39.97B | 15.51 | 7.86% | 1.82% | -4.87% | -0.22% | |
42 Neutral | €432.74M | -2.00 | -10.36% | 3.61% | -25.75% | -496.17% |
* Financial Sector Average
DE:DBK
Deutsche Bank AG
26.80
4.44
19.85%
DE:CBK
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35.45
12.82
56.64%
DE:DB1
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-5.14%
DE:PBB
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3.22
-2.04
-38.79%
DE:FTK
flatexDEGIRO AG
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36.93%
DE:DWS
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58.60
14.55
33.03%
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.