Rankings Financial data & insurance broking Deutsche Bank
Deutsche Bank
88
15070100
A view of the same findings, not a new score. How it works
A strong score: the model found few serious problems, but analysts see limited upside from here.
Biggest deductions
- Multiples vs own history−5
- Profitability−4
- Quality of growth−3
Strengths
- Dividend and buybacks+3
- Raised guidance+1
How the score is built
From 100 to 88, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 30.25 EUR
- Median analyst target
- 35.50 EUR
- Upside to median
- +17.4%
- Analysts
- 18
- Target range
- 10.90 – 44.25 EUR
- 52-week change
- −3%
- P/E (trailing)
- 9.6
- Forward P/E
- 8.2
- PEG
- 0.49
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 3 findings−9 of −30
- −3Quality of growthRevenue is flat: EUR 29.7bn in each of 2023, 2024 and 2025 and 30.5bn TTM (−0.6%); analysts expect only +3.8% in 2026. EPS growth comes from costs, lower losses and buybacks, not from the top line.
- −4ProfitabilityROE 8.9% TTM (5.7–8.8% in 2021–2025) and cost/income 60.9% in Q2 2026 vs about 40–45% at the Nordic large banks. Even with record earnings the bank barely earns its cost of capital.
- −2Earnings stabilityInvestment Bank accounts for 11.2 of 30.5bn EUR (37%) of revenue, and EPS fell 33% in 2024 (from 2.77 to 1.85) on litigation and capital market swings; earnings are more volatile than at retail-heavy banks.
Price
Today's multiples against the company's own history and its peers. · 2 findings−6 of −35
- −5Multiples vs own historyP/B 0.73 vs 0.30–0.40 in 2021–2024 and trailing P/E 10.2 vs 4.2–11.4 in 2021–2025; the share price has risen from 9.36 to 31.57 EUR since 2022 (+237%), while EPS has risen from 2.37 to 3.10 (+31%). The re-rating has been taken, even though P/B is still below 1.
- −1PeersP/B 0.73 and forward P/E 8.5 vs Commerzbank (1.29/12.0) and Nordic large banks (Danske Bank P/B 1.82); the discount matches the lower ROE (8.9% vs 13–15%), so it is not a genuine undervaluation.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 3 findings−5 of −35
- −2Compliance and litigationBaFin fine of about EUR 23m (2025) and a special monitor after the Postbank IT migration; five former employees are claiming about EUR 852m in damages in courts in London and Frankfurt (the Monte dei Paschi case). Repeated compliance cases are a cultural risk.
- −2Credit qualityManagement itself monitors exposure to office property on the US West Coast and private credit; credit costs are expected to fall only 'a little', and management warns that the tight funding spreads will not last.
- −1Capital bufferCET1 13.9% in a target range of 13.5–14.0% and leverage ratio 4.5%; the buffer is markedly thinner than at the Nordic banks (about 17%) and limits the payout if capital markets turn.
Plus
Only documented strengths. · 2 findings+4 of +15
- +3Dividend and buybacksDividend of EUR 1.00 (+47%) × 1.86bn shares ≈ 1.9bn plus buybacks (share count −2.3%, about 1.3bn) ≈ EUR 3.2bn, below net profit of 6.1bn; total shareholder yield 5.4% and new buyback of 500m from this year's earnings.
- +1Raised guidanceRecord H1 with 4.1 bn EUR after tax; 2026 expectation for net interest income raised to slightly above 14 bn, and the revenue target of about 33 bn maintained.
Caveats
What the score does not capture, or where the data is weak.
Bank: EV, ROIC and FCF are not meaningful (stockanalysis shows FCF of −18bn due to balance sheet movements, and the buyback line of 6.7bn is gross and not usable); valuation on P/B and P/E, and the payout is held against net profit based on dividend per share and buyback yield. Q2 EPS missed consensus despite a record H1. The cycle of Investment Bank revenues, US commercial real estate and rating have not been investigated in depth. Q3 results 28 Oct.
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