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DB - Deutsche Bank AG

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Deutsche Bank AG

DB

NYSE

Deutsche Bank Aktiengesellschaft provides investment, financial, and related products and services to private individuals, corporate entities, and institutional clients worldwide. Its Corporate Bank segment provides cash management, trade finance and lending, trust and agency, foreign exchange, and securities services, as well as risk management solutions. The company's Investment Bank segment offers merger and acquisitions, and equity advisory services. This segment also focuses on financing, advisory, fixed income, risk management, sales and trading, and currencies. Its Private Bank segment provides payment and account services, and credit and deposit products, as well as investment advice, such as environmental, social, and governance products. This segment also provides wealth management, postal and parcel services, and digital offerings. The company's Asset Management segment provides investment solutions, such as alternative investments, which include real estate, infrastructure, private equity, liquid real assets, and sustainable investments; passive investments; and various services, including insurance and pension solutions, asset liability management, portfolio management solutions, asset allocation advisory, structuring, and overlay to institutions, governments, corporations and foundations, and individual investors. As of December 31, 2021, it operated 1,709 branches in 58 countries. The company was founded in 1870 and is headquartered in Frankfurt am Main, Germany.

26.8 USD

0.4 (1.49%)

Operating Data

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

27B

28.6B

30.13B

32.64B

33.96B

35.97B

38.1B

40.35B

42.74B

45.26B

Revenue %

-

5.91

5.35

8.32

4.06

5.91

5.91

5.91

5.91

Ebitda

3.35B

5.99B

8.35B

8.66B

-

6.3B

6.67B

7.07B

7.48B

7.93B

Ebitda %

12.4

20.95

27.7

26.52

-

17.51

17.51

17.51

17.51

Ebit

1.02B

3.72B

6.15B

6.46B

-

4.1B

4.34B

4.6B

4.87B

5.16B

Ebit %

3.77

13.01

20.42

19.8

-

11.4

11.4

11.4

11.4

Depreciation

2.33B

2.27B

2.2B

2.2B

-

2.2B

2.33B

2.47B

2.61B

2.77B

Depreciation %

8.63

7.94

7.29

6.73

-

6.11

6.11

6.11

6.11

Balance Sheet

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Total Cash

261.3B

251.77B

246.15B

241.25B

212.38B

35.97B

38.1B

40.35B

42.74B

45.26B

Total Cash %

967.61

880.29

816.95

739.15

625.3

100

100

100

100

Receivables

1.11B

84.54B

-

88.43B

75.81B

21.88B

23.17B

24.54B

25.99B

27.53B

Receivables %

4.13

295.59

-

270.95

223.2

60.83

60.83

60.83

60.83

Inventories

-486B

-510.85B

-579.88B

-

-

-21.58B

-22.86B

-24.21B

-25.64B

-27.16B

Inventories %

-1.8k

-1.79k

-1.92k

-

-

-60

-60

-60

-60

Payable

92.18B

81.15B

96.68B

97.57B

77.84B

35.97B

38.1B

40.35B

42.74B

45.26B

Payable %

341.34

283.72

320.89

298.96

229.19

100

100

100

100

Cap Ex

-578.73M

-621.68M

-380.92M

-477M

-596.81M

-633.08M

-670.5M

-710.13M

-752.11M

-796.56M

Cap Ex %

-2.14

-2.17

-1.26

-1.46

-1.76

-1.76

-1.76

-1.76

-1.76

Weighted Average Cost Of Capital

Price

26.8

Beta

Diluted Shares Outstanding

2.04B

Costof Debt

23.96

Tax Rate

After Tax Cost Of Debt

15.24

Risk Free Rate

Market Risk Premium

Cost Of Equity

Total Debt

171.23B

Total Equity

54.65B

Total Capital

225.89B

Debt Weighting

75.8

Equity Weighting

24.2

Wacc

15.14

Build Up Free Cash Flow

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

27B

28.6B

30.13B

32.64B

33.96B

35.97B

38.1B

40.35B

42.74B

45.26B

Ebitda

3.35B

5.99B

8.35B

8.66B

-

6.3B

6.67B

7.07B

7.48B

7.93B

Ebit

1.02B

3.72B

6.15B

6.46B

-

4.1B

4.34B

4.6B

4.87B

5.16B

Tax Rate

36.38

36.38

36.38

36.38

36.38

36.38

36.38

36.38

36.38

36.38

Ebiat

502.61M

2.6B

6.08B

4.86B

-

2.93B

3.1B

3.28B

3.48B

3.68B

Depreciation

2.33B

2.27B

2.2B

2.2B

-

2.2B

2.33B

2.47B

2.61B

2.77B

Receivables

1.11B

84.54B

-

88.43B

75.81B

21.88B

23.17B

24.54B

25.99B

27.53B

Inventories

-486B

-510.85B

-579.88B

-

-

-21.58B

-22.86B

-24.21B

-25.64B

-27.16B

Payable

92.18B

81.15B

96.68B

97.57B

77.84B

35.97B

38.1B

40.35B

42.74B

45.26B

Cap Ex

-578.73M

-621.68M

-380.92M

-477M

-596.81M

-633.08M

-670.5M

-710.13M

-752.11M

-796.56M

Ufcf

579.32B

-65.37B

177B

-660.84B

-7.7B

38.13B

6.87B

7.27B

7.7B

8.16B

Wacc

15.14

15.14

15.14

15.14

15.14

Pv Ufcf

33.12B

5.18B

4.76B

4.38B

4.03B

Sum Pv Ufcf

51.48B

Terminal Value

Growth In Perpetuity Method

Long Term Growth Rate

Wacc

15.14

Free Cash Flow T1

8.32B

Terminal Value

63.34B

Present Terminal Value

31.3B

Intrinsic Value

Enterprise Value

82.78B

Net Debt

-2.45B

Equity Value

85.23B

Diluted Shares Outstanding

2.04B

Equity Value Per Share

41.79

Projected DCF

41.79 0.359%

DCF Levered

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