Company Valuation: Deutsche Bank AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 22,753 21,570 24,620 32,346 63,130 51,830 - -
Change - -5.2% 14.14% 31.38% 95.17% -17.9% - -
Enterprise Value (EV) 1 112,360 -27,875 -30,926 3,486 24,467 22,923 25,712 28,496
Change - -124.81% -10.94% 111.27% 601.75% -6.31% 12.17% 10.83%
P/E ratio 11.8x 4.47x 6.09x 12.1x 10.8x 8.36x 7.15x 6.29x
PBR 0.4x 0.36x 0.39x 0.5x 0.96x 0.76x 0.7x 0.65x
PEG - 0x -0.4x -0.4x 0x 1.15x 0.4x 0.5x
Capitalization / Revenue 0.9x 0.79x 0.85x 1.07x 1.97x 1.57x 1.51x 1.44x
EV / Revenue 4.42x -1.02x -1.07x 0.12x 0.76x 0.7x 0.75x 0.79x
EV / EBITDA - - - - - - - -
EV / EBIT 28.8x -4.09x -4.3x 0.49x 2.14x 1.97x 2.01x 2.13x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.2 0.3 0.3 0.68 0.68 1.16 1.331 1.542
Rate of return 1.82% 2.83% 2.43% 4.09% 2.05% 4.22% 4.84% 5.61%
EPS 2 0.93 2.37 2.03 1.37 3.064 3.286 3.843 4.371
Distribution rate 21.5% 12.7% 14.8% 49.6% 22.2% 35.3% 34.6% 35.3%
Net sales 1 25,410 27,210 28,879 30,092 32,096 32,972 34,273 35,918
EBITDA - - - - - - - -
EBIT 1 3,905 6,820 7,184 7,121 11,437 11,612 12,783 13,402
Net income 1 1,940 5,025 4,212 2,700 6,122 6,470 7,293 7,826
Net Debt 1 89,607 -49,445 -55,546 -28,860 -38,663 -28,907 -26,118 -23,333
Reference price 2 11.02 10.59 12.36 16.64 33.11 27.48 27.48 27.48
Nbr of stocks (in thousands) 2,065,073 2,037,200 1,991,282 1,943,900 1,906,664 1,880,270 - -
Announcement Date 27/1/22 2/2/23 1/2/24 30/1/25 29/1/26 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.43x0.7x - 4.18% 61.16B
14.24x - - 2.06% 831B
12.06x - - 2.28% 375B
5.9x - - 5.24% 366B
11.71x - - 4.53% 310B
5.67x - - 5.37% 288B
12.21x - - 2.19% 264B
5.93x - - 5.27% 251B
15.25x - - 2.82% 240B
28.23x - - 2.76% 217B
Average 11.96x 0.70x 3.67% 320.36B
Weighted average by Cap. 12.11x 0.70x 3.39%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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