Deutsche Bank AG (DB) fair value: what the stock is really worth
We calculate from audited financials what Deutsche Bank AG is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 17, 2026.
How to read this chart
60‑month range $6.37 – $41.56 · fair‑value band $34.72 – $48.86 · the $37.98 price screens above the $37.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 17, 2026.
Deutsche Bank Aktiengesellschaft, a stock corporation, provides corporate and investment banking, private clients, and asset management products and services in Germany, the United Kingdom, the rest of Europe, the Americas, the Asia-Pacific, the Middle East, and Africa.
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Deutsche Bank Aktiengesellschaft, a stock corporation, provides corporate and investment banking, private clients, and asset management products and services in Germany, the United Kingdom, the rest of Europe, the Americas, the Asia-Pacific, the Middle East, and Africa. It operates through Corporate Bank, Investment Bank, Private Bank, and Asset Management segments. The Corporate Bank segment offers cash management services, such as integrated payments and FX solutions; trade finance and lending offerings, including documentary and guarantee business, and structured trade finance and lending; and depository receipts, corporate trust, document custody, and securities services. The Investment Bank segment provides financing solutions in industries and asset classes; institutional sales, trading, and structuring in foreign exchange, rates, emerging markets, and credit trading; liquidity, market making services, and specialized risk management solutions for fixed income and currencies products; and advisory and financial products and services. This segment is also involved in the mergers and acquisitions business; and capital markets businesses in debt and equity. The Private Bank segment offers a range of payment and account services, and credit and deposit products, as well as investment advice, and postal and parcel services; and planning, managing and investing wealth, financing personal and business interests, and servicing institutional and corporate needs. The Asset Management segment provides access to investment capabilities in active and passive asset classes comprising Xtrackers range and alternatives; and access to private equity, private credit, real estate, and infrastructure. Deutsche Bank Aktiengesellschaft was incorporated in 1870 and is headquartered in Frankfurt am Main, Germany.
Stock analysis
Deutsche Bank AG (DB) currently trades at $37.98, while our model-based Fair Value estimate is $37.70, implying the stock looks roughly 0.7% fairly valued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $47.10 per share, and 3 of the 6 models we run sit above the $37.98 price.
Bear case: the Dividend Discount group reads lowest at $10.19, and 3 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: $34.72 (bear) to $48.86 (bull), the price of $37.98 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 64/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Deutsche Bank AG reported revenue of $60.9B in FY2025 versus $25.3B in FY2021, a compound +24.5%/yr. Reported net income was $6.9B in FY2025, compounding +30.8%/yr from FY2021.
Key figures
Market cap $75.9B · P/E ratio 10.4 · P/S ratio 1.19 · EPS (TTM) $3.64 · Dividend yield 2.6% · Net margin 11.4% · Return on equity 8.7% · Return on assets (EBIT) 0.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (medium confidence).
What moves the price
The share trades near its 52-week high and 49% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −31% fair-value upside, at −1%, DB screens cheaper than that median.
Fair Value models
Bear $34.72Fair Value $37.70Bull $48.86
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($1.91 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−8.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+20.6%
Revenue growth 30 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.2%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+46.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+43.4%
Dividend (yield on the price)2.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.39% vs 12%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → 16%
2025 sits 53% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
News mood ⓘNews mood, the average tone of recent news (97 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Very negative
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 1073 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside+20% · Top 25%
Profitability
Return on equity (TTM)9% · Below median
Return on assets0% · Bottom 25%
Net margin (TTM)23% · Below median
Operating margin (TTM)37% · Below median
Growth and dividend
Revenue growth1% · Below median
Dividend yield (TTM)2.6% · Above median
Balance sheet
Debt / equity2.93× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Deutsche Bank AG Fair Value". https://www.fairvalue-calculator.com/stock/DB
Frequently asked questions
Is Deutsche Bank AG (DB) overvalued or undervalued?
As of Sep 17, 2026, our model estimates a fair value of $37.70 versus a price of $37.98, about −1% upside (fairly valued).
What is the fair value of DB?
Our model-based fair value for Deutsche Bank AG is $37.70 (as of Sep 17, 2026), built from audited fundamentals. The current price: $37.98.
What is the quality score of DB?
Deutsche Bank AG has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Deutsche Bank AG (DB)?
Our model-based price target is the fair value of $37.70 (as of Sep 17, 2026) from 6 valuation models. Cautious scenario $34.72, optimistic scenario $48.86. It is a calculation from audited fundamentals, not an analyst target.
What is the Deutsche Bank AG stock forecast for 2026?
Our models put fair value at $37.70, about −1% upside versus a price of $37.98 (fairly valued). Cautious scenario $34.72, optimistic scenario $48.86. The calculation is refreshed regularly with new filings.
What is the revenue of Deutsche Bank AG (DB)?
Deutsche Bank AG reported trailing-twelve-month revenue of about $29.8B (latest available figure, as of Sep 17, 2026).
Does Deutsche Bank AG pay a dividend?
Deutsche Bank AG currently shows a dividend yield of about 2.63% relative to its recent price (as of Sep 17, 2026).
What is the intrinsic value of Deutsche Bank AG (DB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Deutsche Bank AG it is $37.70 per share (as of Sep 17, 2026), against a price of $37.98. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Deutsche Bank AG stock overvalued or undervalued in 2026?
As of Sep 17, 2026, DB trades above its calculated fair value: price $37.98, fair value $37.70, a gap of about −1% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DB?
No. The price is what the market pays today ($37.98); the fair value is what the company's own numbers justify ($37.70). For Deutsche Bank AG the two are $0.2800 per share apart. That gap is exactly why we show both numbers side by side.
How much is Deutsche Bank AG worth?
The market values Deutsche Bank AG at about $75.9B (market capitalisation, as of Sep 17, 2026). Per share that is $37.98; our models calculate a fair value of $37.70 per share.
What do the bullish and bearish scenarios say about DB?
Our models span a range for Deutsche Bank AG: cautious scenario $34.72, base $37.70, optimistic $48.86 per share (as of Sep 17, 2026, price $37.98). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DB?
Deutsche Bank AG trades at a price-to-earnings ratio of 10.4 (as of Sep 17, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $37.70 is built from several models across several years. Other multiples: PEG 1.7, P/B 0.9, P/S 2.3, EV/EBITDA 13.0.
What is the PEG ratio of DB?
The PEG ratio of Deutsche Bank AG is 1.73 (P/E divided by earnings growth, as of Sep 17, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Deutsche Bank AG (DB)?
Balance-sheet figures for Deutsche Bank AG (as of Sep 17, 2026): return on equity 8.7%, debt of 2.93 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is DB from its 52-week high?
Deutsche Bank AG trades at $37.98, about 0% below its 52-week high of $37.95 and 49% above the low of $25.47 (as of Sep 17, 2026). Distance from the high says nothing about value: that is what the fair value of $37.70 is for.
Which stocks are comparable to Deutsche Bank AG?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Deutsche Bank AG stock attractive at the current price?
The data as of Sep 17, 2026: price $37.98, calculated fair value $37.70 (−1%), Quality Score 64/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DB calculated?
We run Deutsche Bank AG through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $37.70, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.1 % above its aggregate fair value. Deutsche Bank AG itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Deutsche Bank AG (DB)?
The closing price on Sep 18, 2026 was $37.98. Our model-based fair value is $37.70, about −1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Deutsche Bank AG right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Deutsche Bank AG
How large is the market capitalisation of Deutsche Bank AG (DB)?
The market capitalisation of Deutsche Bank AG is $75.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Deutsche Bank AG (DB)?
The price-to-sales ratio of Deutsche Bank AG is 1.19 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Deutsche Bank AG (DB)?
Earnings per share at Deutsche Bank AG are $3.64 (price ÷ EPS = P/E 10.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Deutsche Bank AG (DB)?
The dividend yield of Deutsche Bank AG is 2.6% (payout 27.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Deutsche Bank AG (DB)?
The net margin of Deutsche Bank AG is 11.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Deutsche Bank AG (DB)?
The return on equity (ROE) of Deutsche Bank AG is 8.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Deutsche Bank AG (DB)?
On an EBIT basis the return on assets of Deutsche Bank AG is 0.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Deutsche Bank AG (DB)?
The operating margin of Deutsche Bank AG is 37.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Deutsche Bank AG (DB)?
Revenue at Deutsche Bank AG is growing +1.2% versus a year earlier (3y avg +17.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Deutsche Bank AG (DB)?
Earnings per share at Deutsche Bank AG are growing +7.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Deutsche Bank AG (DB) generate?
The free cash flow of Deutsche Bank AG is $46.6B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Deutsche Bank AG (DB) carry?
The net debt of Deutsche Bank AG is $83.2B (fiscal year 2025, ≈ 1.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Sep 17, 2026