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Deutsche Bank Aktiengesellschaft, a stock corporation, (DB) Fair Value & Analysis

Financial Services · US · Market cap $68.2B

DB Deutsche Bank Aktiengesellschaft, a stock corporation, logo Deutsche Bank Aktiengesellschaft, a stock corporation, DB · US
Price$37.63
Fair Value$47.10
Upside+25.2%
Quality66/100
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Mixed Growth
Highly profitable · 22.7% net margin
High debt · generates free cash flow
2.84% dividend yield
Mixed vs. peers (7/15)
Moderate moat 57/100
Evidence: High Range $35.32 – $58.87 Share as image

Fair value as of: Jul 16, 2026

From 25 valuation models · updated 22 days ago

Share price +2.7% over the past month.

A solid business, screening 25% undervalued on our models.

What matters now

  • Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

$38.04 $6.37 Fair Value $47.10 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range $6.37 – $38.04 · fair‑value band $35.32 – $58.87 · the $37.63 price screens below the $47.10 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Deutsche Bank Aktiengesellschaft, a stock corporation, (DB) currently trades at $37.63, while our model-based Fair Value estimate is $47.10, implying the stock looks roughly 25.2% undervalued today. We read business quality at 66/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Deutsche Bank Aktiengesellschaft, a stock corporation, generated revenue of $29.8B at a net margin of 22.7%. Revenue grew 1.2% year over year. It earns a return on equity of 8.7%. Net debt stands at $83.2B. Fundamentals as of Jul 16, 2026

Our scenario range runs from $35.32 (bear case) to $58.87 (bull case); at $37.63, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 1% below its 52-week high and 48% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 25%, DB screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $247.73 $377.45 $561.42 80
Residual Income $34.93 $38.02 $50.80 76
ROIC Compounder $4.89 $10.80 $15.97 72
All 25 models by family
DCF Models
FCF DCF $242.30 $387.37 $605.54 38
Owner Earnings $23.83 $52.74 $96.23 31
5Y Revenue Exit $93.81 $128.76 $168.77 39
5Y EBITDA Exit $102.03 $143.97 $189.19 41
5Y P/E Exit $96.59 $133.90 $170.39 38
10Y Revenue Exit $144.08 $187.99 $239.24 36
10Y EBITDA Exit $150.69 $198.49 $254.67 37
10Y P/E Exit $147.24 $191.54 $240.46 35
Earnings-Based
Graham-Dodd $24.64 $72.55 $95.94 54
Lynch FV $15.19 $21.70 $28.21 50
PEG = 1.0 $15.19 $21.70 $28.21 46
EPV $4.89 $10.80 $15.97 59
Dividend Discount
Gordon GGM $6.31 $13.12 $20.82 70
DDM Multi-Stage $6.31 $10.19 $13.77 61
Multiples
P/E Multiple $54.34 $72.46 $90.57 63
P/S Multiple $46.19 $61.59 $76.98 58
P/B Multiple $46.19 $61.59 $76.98 55
EV/EBIT $37.98 $60.83 $83.68 53
EV/EBITDA $33.24 $54.50 $75.77 54
EV/Revenue $15.64 $35.44 $55.25 43
Asset-Based
NCAV (Graham) $20.55 $27.54 $41.11 50
Growth DCF
Growth DCF $247.73 $377.45 $561.42 80
Economic Profit
Residual Income $34.93 $38.02 $50.80 76
ROIC Compounder $4.89 $10.80 $15.97 72
Growth Earnings
Growth-Adj P/E $44.31 $63.31 $82.30 68

Widest divergence: Growth DCF ($377.45) versus Dividend Discount ($10.19). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $29.8B
Revenue growth (YoY) +1.2%
Net margin 22.7%
Return on equity 8.7%
Free cash flow $46.6B FY2025
P/E ratio 9.8
More key figures
Operating margin 37.3%
EPS (TTM) $3.64
Dividend yield 2.8%
EPS growth (YoY) +7.1%
Net debt $83.2B FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 65 · Market factors (momentum, volatility) 66

Profitability 24
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 78
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Deutsche Bank Aktiengesellschaft, a stock corporation, 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.

Growth Quality 89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$60.9B
Latest YoY
−8.3%
Avg. growth/yr (3Y)
+17.7%
Avg. growth/yr (5Y)
+20.6%
Avg. growth/yr (30Y)
+8.2%
Revenue +24.5%/yr
FY21 $25.3B
FY22 $37.3B
FY23 $59.3B
FY24 $66.3B
FY25 $60.9B
Net income +30.8%/yr
FY21 $2.4B
FY22 $5.5B
FY23 $4.8B
FY24 $3.4B
FY25 $6.9B

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Cite: Fair Value Calculator (2026). "Deutsche Bank Aktiengesellschaft, a stock corporation, Fair Value". https://www.fairvalue-calculator.com/stock/DB

Peer Group

Banks - Regional · 1082 stocks

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.

Quality Score 69 · Top 25%
Fair Value upside +25% · Above median
Return on equity (TTM) 9% · Below median
Return on assets 0% · Bottom 25%
Net margin (TTM) 23% · Below median
Operating margin (TTM) 37% · Below median
Revenue growth 1% · Below median
Dividend yield (TTM) 2.8% · Above median
Debt / equity 2.93× · Higher than 75% of peers

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 9.8× · Cheaper than median
P/B 0.87× · Cheaper than median
P/S (TTM) 2.29× · Cheaper than median
P/FCF 1.5× · Cheaper than median
EV/EBITDA 13.0× · Pricier than median
PEG 1.73× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 67 · sector 39
FUTURE 6 · sector 44
PAST 35 · sector 41
HEALTH 0 · sector 85
DIVIDEND 57 · sector 49

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
PT Bank Central Asia Tbk BBCA 6,175 IDR 6,087 IDR -1%
KB Financial Group 105560 184,400 KRW 213,797 KRW +16%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI 2,970 IDR 4,891 IDR +65%
PT Bank Mandiri (Persero) Tbk BMRI 4,310 IDR 7,841 IDR +82%
Banco Bradesco S.A BBD 5,120 ARS 10,240 ARS +100%
Shinhan Financial Group 055550 107,900 KRW 137,259 KRW +27%
Hana Financial Group 086790 136,800 KRW 193,969 KRW +42%
Lloyds Banking Group LYG 4,138 ARS 8,275 ARS +100%
Banco de Chile, CHILE 193.10 CLP 152.55 CLP -21%
Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB 59,400 VND 84,201 VND +42%

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Frequently asked questions

Is Deutsche Bank Aktiengesellschaft, a stock corporation, (DB) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of $47.10 versus a price of $37.63, about +25% (undervalued).
What is the fair value of DB?
Our model-based fair value for Deutsche Bank Aktiengesellschaft, a stock corporation, is $47.10 (as of Jul 16, 2026), built from audited fundamentals. The current price is $37.63.
What is the quality score of DB?
Deutsche Bank Aktiengesellschaft, a stock corporation, has a Quality Score of 66/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Deutsche Bank Aktiengesellschaft, a stock corporation, (DB)?
Deutsche Bank Aktiengesellschaft, a stock corporation, reported trailing-twelve-month revenue of about $29.8B (latest available figure, as of Jul 16, 2026).
What is the net profit margin of DB?
The net profit margin of Deutsche Bank Aktiengesellschaft, a stock corporation, is about 22.7%, meaning it keeps roughly 22.7% of revenue as net income. Based on the latest reported figures.
Does Deutsche Bank Aktiengesellschaft, a stock corporation, pay a dividend?
Deutsche Bank Aktiengesellschaft, a stock corporation, currently shows a dividend yield of about 3.11% relative to its recent price (as of Jul 16, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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