Deutsche Bank (DB)
Market Price (10/21/2025): $34.0 | Market Cap: $66.9 BilSector: Financials | Industry: Regional Banks
Deutsche Bank (DB)
Market Price (10/21/2025): $34.0Market Cap: $66.9 BilSector: FinancialsIndustry: Regional Banks
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.8% | Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 65% | |
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -81% | ||
Low stock price volatilityVol 12M is 36% |
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.8% |
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -81% |
Low stock price volatilityVol 12M is 36% |
Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 65% |
Market Valuation & Key Metrics
DB Stock
Return vs. Risk
Price Returns Compared
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
---|---|---|---|---|---|---|---|
Returns | |||||||
DB Return | 40% | 15% | -6% | 21% | 30% | 104% | 381% |
Peers Return | 4% | 35% | -15% | 17% | 42% | 32% | 160% |
S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 15% | 106% |
Monthly Win Rates [3] | |||||||
DB Win Rate | 58% | 50% | 50% | 67% | 67% | 100% | |
Peers Win Rate | 58% | 63% | 42% | 50% | 65% | 69% | |
S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 67% | |
Max Drawdowns [4] | |||||||
DB Max Drawdown | -30% | -7% | -40% | -19% | -7% | 0% | |
Peers Max Drawdown | -47% | -2% | -29% | -14% | -4% | -18% | |
S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: JPM, BAC, MS, GS, C. See DB Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/20/2025 (YTD)
Downturns Compared
Event | DB | S&P 500 |
---|---|---|
2022 Inflation Shock | ||
% Loss | -55.2% | -25.4% |
% Gain to Breakeven | 123.0% | 34.1% |
Time to Breakeven | 571 days | 464 days |
2020 Covid Pandemic | ||
% Loss | -50.4% | -33.9% |
% Gain to Breakeven | 101.5% | 51.3% |
Time to Breakeven | 252 days | 148 days |
2018 Correction | ||
% Loss | -68.0% | -19.8% |
% Gain to Breakeven | 212.1% | 24.7% |
Time to Breakeven | 1993 days | 120 days |
2008 Global Financial Crisis | ||
% Loss | -86.7% | -56.8% |
% Gain to Breakeven | 650.3% | 131.3% |
Time to Breakeven | Not Fully Recovered days | 1480 days |
How Low Can It Go?
Deutsche Bank's stock fell -55.2% during the 2022 Inflation Shock from a high on 2/10/2022. A -55.2% loss requires a 123.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Latest Trefis Analyses
Trade Ideas
Select past ideas related to DB. For more, see Trefis Trade Ideas.
Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
---|---|---|---|---|---|---|---|
09302025 | HLNE | Hamilton Lane | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -12.4% | -12.4% | -12.7% |
09302025 | CNS | Cohen & Steers | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 6.1% | 6.1% | -1.6% |
09262025 | JKHY | Jack Henry & Associates | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.4% | 2.4% | -2.1% |
09192025 | FDS | FactSet Research Systems | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.9% | -0.9% | -4.9% |
09052025 | IBKR | Interactive Brokers | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 10.1% | 10.1% | 0.0% |
Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
---|---|---|---|---|---|---|---|
09302025 | HLNE | Hamilton Lane | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -12.4% | -12.4% | -12.7% |
09302025 | CNS | Cohen & Steers | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 6.1% | 6.1% | -1.6% |
09262025 | JKHY | Jack Henry & Associates | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.4% | 2.4% | -2.1% |
09192025 | FDS | FactSet Research Systems | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.9% | -0.9% | -4.9% |
09052025 | IBKR | Interactive Brokers | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 10.1% | 10.1% | 0.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Deutsche Bank
Financials
Median | |
---|---|
Name | |
Mkt Price | 130.63 |
Mkt Cap | 247.4 |
Rev LTM | 72,308 |
Op Inc LTM | - |
FCF LTM | -24,879 |
FCF 3Y Avg | -27,212 |
CFO LTM | -22,852 |
CFO 3Y Avg | -24,836 |
Growth & Margins
Median | |
---|---|
Name | |
Rev Chg LTM | 7.3% |
Rev Chg 3Y Avg | 5.0% |
Rev Chg Q | 7.4% |
QoQ Delta Rev Chg LTM | 1.8% |
Op Mgn LTM | - |
Op Mgn 3Y Avg | - |
QoQ Delta Op Mgn LTM | - |
CFO/Rev LTM | -40.7% |
CFO/Rev 3Y Avg | -41.3% |
FCF/Rev LTM | -44.3% |
FCF/Rev 3Y Avg | -47.4% |
Valuation
Median | |
---|---|
Name | |
Mkt Cap | 247.4 |
P/S | 4.0 |
P/EBIT | - |
P/E | 14.6 |
P/CFO | -5.7 |
Total Yield | 6.8% |
Dividend Yield | 0.0% |
FCF Yield 3Y Avg | -14.8% |
D/E | 1.5 |
Net D/E | -0.6 |
Returns
Median | |
---|---|
Name | |
1M Rtn | -3.4% |
3M Rtn | 9.5% |
6M Rtn | 51.8% |
12M Rtn | 42.6% |
3Y Rtn | 152.6% |
1M Excs Rtn | -4.4% |
3M Excs Rtn | 2.8% |
6M Excs Rtn | 21.2% |
12M Excs Rtn | 28.0% |
3Y Excs Rtn | 80.3% |
Segment Financials
Revenue by Segment
$ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
Private Bank | 9,571 | 9,152 | 8,233 | 8,126 | 8,206 |
Investment Bank | 9,160 | 10,016 | 9,631 | 9,286 | 7,019 |
Corporate Bank | 7,718 | 6,337 | 5,153 | 5,146 | 5,244 |
Asset Management | 2,383 | 2,608 | 2,708 | 2,229 | 2,332 |
Corporate & Other | 47 | -902 | -186 | -552 | 147 |
Capital Release Unit | -225 | 217 | |||
Total | 28,879 | 27,211 | 25,539 | 24,010 | 23,165 |
$ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
Investment Bank | 658,000 | 677,000 | 616,000 | 573,536 | 501,774 |
Private Bank | 331,000 | 333,000 | 310,000 | 296,596 | 270,334 |
Corporate Bank | 264,000 | 258,000 | 246,000 | 237,675 | 228,663 |
Corporate & Other | 49,000 | 60,000 | 142,000 | 10,035 | 27,743 |
Asset Management | 10,000 | 10,000 | 10,000 | 9,453 | 9,936 |
Capital Release Unit | 197,667 | 259,224 | |||
Total | 1,312,000 | 1,338,000 | 1,324,000 | 1,324,962 | 1,297,674 |
Returns Analyses
SEC Filings
Expand for MoreReport Date | Filing Date | Filing |
---|---|---|
3312021 | 4282021 | 6-K 3/31/2021 |
9302020 | 10282020 | 6-K 9/30/2020 |
3312020 | 4292020 | 6-K 3/31/2020 |
12312019 | 3202020 | 20-F 12/31/2019 |
9302019 | 10302019 | 6-K 9/30/2019 |
6302019 | 7242019 | 6-K 6/30/2019 |
3312019 | 4262019 | 6-K 3/31/2019 |
12312018 | 3252019 | 20-F 12/31/2018 |
9302018 | 10242018 | 6-K 9/30/2018 |
6302018 | 7252018 | 6-K 6/30/2018 |
3312018 | 7162018 | 6-K 3/31/2018 |
12312017 | 3162018 | 20-F 12/31/2017 |
9302017 | 10262017 | 6-K 9/30/2017 |
6302017 | 7272017 | 6-K 6/30/2017 |
3312017 | 4272017 | 6-K 3/31/2017 |
12312016 | 3202017 | 20-F 12/31/2016 |
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