DB

MKT CAP:$60B

Deutsche Bank AG

Market Cap

$60B

Financial Services·Banks - Regional·🇩🇪 Germany·NYSE

Financials·Banks - Regional·🇩🇪·NYSE

Stock Price

$31.73-$7.86 (-19.84%)

Apr 24, 2026

Company Details

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 f...

CEO

Christian Sewing

IPO Date

Nov 18, 1996

Website

www.db.com

Key Metrics TTM

Revenue

$63.6B

-18.5% YoY

Net Income

$6.5B

EPS (Diluted)

$2.89

Free Cash Flow

$0

Revenue / Share

$27.27

Gross Margin

54.7%

Operating Margin

14.5%

Net Margin

10.2%

FCF Margin

0.0%

P/S

0.9x

P/E

9.3x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Mar 12, 2026

$71.2BEPS $3.61

Q4 2025

Mar 12, 2026

$9.0B-49.4%EPS $0.76

Q3 2025

Oct 29, 2025

$17.6B-9.1%EPS $0.91

Q1 2025

Apr 29, 2025

$19.1B-5.1%EPS $1.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 19	$8.7B	$5.9B	-$1.5B
Q1 21	$10.1B	$8.3B	$1.9B
Q2 22	$9.9B	$7.4B	$1.8B
Q3 22	$11.2B	$7.6B	$1.9B
Q4 22	$12.4B	$6.7B	$906M
Q1 23	$16.3B	$8.5B	$2.2B
Q2 23	$16.9B	$8.2B	$1.6B
Q3 23	$17.8B	$8.1B	$2.0B
Q4 23	$18.4B	$7.2B	$816M
Q1 24	$20.2B	$8.6B	$2.4B
Q2 24	$20.1B	$8.3B	$481M
Q3 24	$19.4B	$8.2B	$2.6B
Q4 24	$17.8B	$7.9B	$680M
Q1 25	$19.1B	$9.4B	$3.3B
Q3 25	$17.6B	$8.9B	$2.9B
Q4 25	$9.0B	$8.6B	$2.4B

Valuation

Quarter	P/S	P/E
Q4 19	0.4x	—
Q1 21	0.6x	—
Q2 22	0.5x	—
Q3 22	0.4x	7.0x
Q4 22	0.6x	4.1x
Q1 23	0.4x	3.3x
Q2 23	0.4x	3.5x
Q3 23	0.3x	3.5x
Q4 23	0.4x	5.1x
Q1 24	0.4x	5.5x
Q2 24	0.4x	7.0x
Q3 24	0.4x	6.6x
Q4 24	0.4x	8.6x
Q1 25	0.6x	10.4x
Q3 25	0.9x	10.5x
Q4 25	1.2x	11.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 19	$0	$0
Q1 21	$0	$0
Q2 22	$0	$0
Q3 22	$0	$0
Q4 22	$0	$0
Q1 23	$0	$0
Q2 23	$0	$0
Q3 23	$0	$0
Q4 23	$0	$0
Q1 24	$0	$0
Q2 24	$0	$0
Q3 24	$0	$0
Q4 24	$0	$0
Q1 25	$0	$0
Q3 25	$0	$0
Q4 25	$0	$0

Capital Expenditures

Quarter	CapEx
Q4 19	$0
Q1 21	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q3 25	$0
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 19	-20.0%	+1.6%
Q1 21	-8.5%	-23.0%
Q2 22	-9.3%	-32.7%
Q3 22	+18.0%	-9.5%
Q4 22	+41.6%	+11.8%
Q1 23	+62.1%	+72.4%
Q2 23	+70.9%	+88.8%
Q3 23	+59.2%	+69.9%
Q4 23	+48.5%	+53.1%
Q1 24	+23.5%	+25.6%
Q2 24	+19.2%	+28.9%
Q3 24	+8.9%	+6.0%
Q4 24	-2.7%	-2.1%
Q1 25	-5.1%	-11.1%
Q3 25	-12.5%	-24.9%
Q4 25	-53.4%	-60.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 19	$687M	7.9%
Q1 21	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$560M	3.1%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$573M	3.2%
Q1 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q4 19	$2.7B
Q1 21	$6.4B
Q2 22	$5.7B
Q3 22	$5.8B
Q4 22	$6.0B
Q1 23	$6.4B
Q2 23	$6.4B
Q3 23	$6.0B
Q4 23	$2.3B
Q1 24	$6.2B
Q2 24	$7.9B
Q3 24	$5.6B
Q4 24	$1.8B
Q1 25	$6.1B
Q3 25	$6.1B
Q4 25	$3.4B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$207.8B	$36.8B	$244.6B
Q2 22	$216.3B	$36.8B	$253.1B
Q3 22	$224.1B	$41.0B	$265.1B
Q4 22	$217.6B	$29.8B	$247.3B
Q1 23	$194.8B	$34.0B	$228.8B
Q2 23	$200.1B	$34.9B	$235.0B
Q3 23	$205.6B	$38.4B	$244.0B
Q4 23	$215.8B	$33.8B	$249.5B
Q1 24	$173.3B	$44.5B	$217.9B
Q2 24	$182.3B	$46.9B	$229.2B
Q3 24	$174.0B	$49.5B	$223.5B
Q4 24	$179.6B	$40.0B	$219.7B
Q1 25	$185.9B	$49.5B	$235.4B
Q2 25	$168.2B	$48.6B	$216.9B
Q3 25	$173.0B	$49.2B	$222.2B
Q4 25	$192.5B	$223.6B	$416.1B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 19	2.12B	+0.3%	-1.8%
Q1 21	2.14B	+1.1%	-0.6%
Q2 22	2.12B	-1.1%	+0.1%
Q3 22	2.12B	+0.0%	+0.2%
Q4 22	2.13B	+0.5%	+0.5%
Q1 23	2.11B	-0.7%	-1.3%
Q2 23	2.11B	-0.2%	-0.3%
Q3 23	2.11B	-0.0%	-0.4%
Q4 23	2.09B	-0.7%	-1.6%
Q1 24	2.06B	-1.7%	-2.6%
Q2 24	2.00B	-2.9%	-5.2%
Q3 24	2.03B	+1.4%	-3.9%
Q4 24	2.00B	-1.4%	-4.5%
Q1 25	2.00B	-0.0%	-2.9%
Q3 25	2.00B	+0.1%	+0.1%
Q4 25	2.33B	+16.7%	+15.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 19	$99.7K	88K
Q1 21	$119.0K	85K
Q2 22	$119.1K	83K
Q3 22	$134.9K	83K
Q4 22	$145.5K	85K
Q1 23	$192.3K	85K
Q2 23	$198.9K	85K
Q3 23	$209.8K	85K
Q4 23	$203.6K	90K
Q1 24	$223.8K	90K
Q2 24	$223.5K	90K
Q3 24	$215.2K	90K
Q4 24	$198.9K	90K
Q1 25	$213.2K	90K
Q3 25	$196.4K	90K
Q4 25	$100.5K	90K

Revenue / Employee