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DEUTSCHE BANK AG-REGISTERED (DBK.DE) Stock Fundamental Analysis

FRA:DBK - Deutsche Boerse Ag - DE0005140008 - Common Stock - Currency: EUR

25.19  -0.31 (-1.22%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to DBK. DBK was compared to 113 industry peers in the Capital Markets industry. DBK may be in some trouble as it scores bad on both profitability and health. DBK has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year DBK was profitable.
In the past year DBK has reported a negative cash flow from operations.
In the past 5 years DBK has always been profitable.
The reported operating cash flow has been mixed in the past 5 years: DBK reported negative operating cash flow in multiple years.
DBK.DE Yearly Net Income VS EBIT VS OCF VS FCFDBK.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B -20B 40B -40B 60B

1.2 Ratios

DBK's Return On Assets of 0.20% is in line compared to the rest of the industry. DBK outperforms 42.48% of its industry peers.
The Return On Equity of DBK (3.59%) is comparable to the rest of the industry.
Industry RankSector Rank
ROA 0.2%
ROE 3.59%
ROIC N/A
ROA(3y)0.3%
ROA(5y)0.21%
ROE(3y)5.53%
ROE(5y)3.97%
ROIC(3y)N/A
ROIC(5y)N/A
DBK.DE Yearly ROA, ROE, ROICDBK.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 -10

1.3 Margins

DBK has a Profit Margin (9.28%) which is comparable to the rest of the industry.
In the last couple of years the Profit Margin of DBK has grown nicely.
The Operating Margin and Gross Margin are not available for DBK so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 9.28%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y6.12%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
DBK.DE Yearly Profit, Operating, Gross MarginsDBK.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 -20

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2

2. Health

2.1 Basic Checks

The number of shares outstanding for DBK has been reduced compared to 1 year ago.
DBK has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, DBK has an improved debt to assets ratio.
DBK.DE Yearly Shares OutstandingDBK.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
DBK.DE Yearly Total Debt VS Total AssetsDBK.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500B 1T 1.5T

2.2 Solvency

A Debt/Equity ratio of 2.57 is on the high side and indicates that DBK has dependencies on debt financing.
DBK has a Debt to Equity ratio (2.57) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 2.57
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACCN/A
DBK.DE Yearly LT Debt VS Equity VS FCFDBK.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50B -50B 100B 150B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
DBK.DE Yearly Current Assets VS Current LiabilitesDBK.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B 100B

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 27.53% over the past year.
The Earnings Per Share has been growing by 20.68% on average over the past years. This is a very strong growth
Looking at the last year, DBK shows a small growth in Revenue. The Revenue has grown by 6.42% in the last year.
DBK shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.88% yearly.
EPS 1Y (TTM)27.53%
EPS 3Y20.68%
EPS 5YN/A
EPS Q2Q%86.52%
Revenue 1Y (TTM)6.42%
Revenue growth 3Y5.28%
Revenue growth 5Y4.88%
Sales Q2Q%1.3%

3.2 Future

DBK is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 12.81% yearly.
DBK is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.71% yearly.
EPS Next Y16.84%
EPS Next 2Y14.29%
EPS Next 3Y12.81%
EPS Next 5YN/A
Revenue Next Year5.24%
Revenue Next 2Y3.82%
Revenue Next 3Y3.41%
Revenue Next 5Y0.71%

3.3 Evolution

Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
DBK.DE Yearly Revenue VS EstimatesDBK.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 10B 20B 30B
DBK.DE Yearly EPS VS EstimatesDBK.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 2 3

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6

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 8.87 indicates a reasonable valuation of DBK.
Based on the Price/Earnings ratio, DBK is valued cheaply inside the industry as 86.73% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 26.03. DBK is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 7.97, the valuation of DBK can be described as very cheap.
Compared to the rest of the industry, the Price/Forward Earnings ratio of DBK indicates a rather cheap valuation: DBK is cheaper than 92.92% of the companies listed in the same industry.
DBK is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.94, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 8.87
Fwd PE 7.97
DBK.DE Price Earnings VS Forward Price EarningsDBK.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
DBK.DE Per share dataDBK.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20 30

4.3 Compensation for Growth

DBK's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
DBK's earnings are expected to grow with 12.81% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.53
PEG (5Y)N/A
EPS Next 2Y14.29%
EPS Next 3Y12.81%

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5

5. Dividend

5.1 Amount

DBK has a Yearly Dividend Yield of 2.70%.
DBK's Dividend Yield is a higher than the industry average which is at 6.20.
DBK's Dividend Yield is comparable with the S&P500 average which is at 2.36.
Industry RankSector Rank
Dividend Yield 2.7%

5.2 History

On average, the dividend of DBK grows each year by 32.48%, which is quite nice.
Dividend Growth(5Y)32.48%
Div Incr Years2
Div Non Decr Years2
DBK.DE Yearly Dividends per shareDBK.DE Yearly Dividends per shareYearly Dividends per share 2019 2022 2023 2024 2025 0.2 0.4 0.6

5.3 Sustainability

DBK pays out 31.63% of its income as dividend. This is a sustainable payout ratio.
The dividend of DBK is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP31.63%
EPS Next 2Y14.29%
EPS Next 3Y12.81%
DBK.DE Yearly Income VS Free CF VS DividendDBK.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B -20B 40B -40B 60B
DBK.DE Dividend Payout.DBK.DE Dividend Payout, showing the Payout Ratio.DBK.DE Dividend Payout.PayoutRetained Earnings

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DEUTSCHE BANK AG-REGISTERED

FRA:DBK (5/22/2025, 9:11:10 AM)

25.19

-0.31 (-1.22%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)04-29 2025-04-29/bmo
Earnings (Next)07-24 2025-07-24
Inst Owners50.83%
Inst Owner ChangeN/A
Ins Owners8.05%
Ins Owner ChangeN/A
Market Cap49.08B
Analysts73.91
Price Target23.78 (-5.6%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.7%
Yearly Dividend0.45
Dividend Growth(5Y)32.48%
DP31.63%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)12.81%
Min EPS beat(2)4.98%
Max EPS beat(2)20.63%
EPS beat(4)3
Avg EPS beat(4)20.19%
Min EPS beat(4)-22.46%
Max EPS beat(4)77.61%
EPS beat(8)7
Avg EPS beat(8)22.22%
EPS beat(12)10
Avg EPS beat(12)30.33%
EPS beat(16)13
Avg EPS beat(16)77.6%
Revenue beat(2)2
Avg Revenue beat(2)0.7%
Min Revenue beat(2)0.19%
Max Revenue beat(2)1.2%
Revenue beat(4)3
Avg Revenue beat(4)0.32%
Min Revenue beat(4)-0.17%
Max Revenue beat(4)1.2%
Revenue beat(8)5
Avg Revenue beat(8)-0.05%
Revenue beat(12)8
Avg Revenue beat(12)1.35%
Revenue beat(16)12
Avg Revenue beat(16)2.84%
PT rev (1m)7.44%
PT rev (3m)23.54%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-4.78%
EPS NY rev (1m)0%
EPS NY rev (3m)1.14%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.25%
Revenue NY rev (1m)0.61%
Revenue NY rev (3m)1.83%
Valuation
Industry RankSector Rank
PE 8.87
Fwd PE 7.97
P/S 1.63
P/FCF N/A
P/OCF N/A
P/B 0.63
P/tB 0.7
EV/EBITDA N/A
EPS(TTM)2.84
EY11.27%
EPS(NY)3.16
Fwd EY12.55%
FCF(TTM)-14.94
FCFYN/A
OCF(TTM)-14.67
OCFYN/A
SpS15.45
BVpS39.95
TBVpS35.97
PEG (NY)0.53
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.2%
ROE 3.59%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 9.28%
GM N/A
FCFM N/A
ROA(3y)0.3%
ROA(5y)0.21%
ROE(3y)5.53%
ROE(5y)3.97%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y6.12%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.02
Health
Industry RankSector Rank
Debt/Equity 2.57
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 15.58%
Cap/Sales 1.75%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score3
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)12.9%
Cap/Depr(5y)15.49%
Cap/Sales(3y)1.36%
Cap/Sales(5y)1.59%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)27.53%
EPS 3Y20.68%
EPS 5YN/A
EPS Q2Q%86.52%
EPS Next Y16.84%
EPS Next 2Y14.29%
EPS Next 3Y12.81%
EPS Next 5YN/A
Revenue 1Y (TTM)6.42%
Revenue growth 3Y5.28%
Revenue growth 5Y4.88%
Sales Q2Q%1.3%
Revenue Next Year5.24%
Revenue Next 2Y3.82%
Revenue Next 3Y3.41%
Revenue Next 5Y0.71%
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-661.48%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-609.81%
OCF growth 3YN/A
OCF growth 5YN/A