Analyst Consensus ?
ConsensusHold33 ratings
Bullish721.2%
Neutral1957.6%
Bearish721.2%
Deutsche Bank AG · DB · FY2025 Q4 · Calendar Q1 2026
Deutsche Bank raises 2026 outlook after record 2025 performance
The current analysis supports a constructive but conditional view: record profitability, operating efficiencies, capital strength and a raised 2026 outlook provide support, while increased investment, credit provisions, deposit competition and regulatory risks could limit operating leverage.
Reported After market closeNYSEFinancial Services
$62.37B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.88
Consensus $0.72
EPS surprise
+22.2%
Reported versus consensus
Reported revenue
$9.07B
Consensus $9.04B
Revenue surprise
+0.4%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+0.3%
Event window
SPY move
-0.3%
Same window
Abnormal move
+0.6%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
-12.7%
Up to 20 sessions
DBSPY benchmark
Ask FN2 about DB FY2025 Q4
Transcript, numbers and history already loaded
Why did DB rise 0.3% after beating EPS estimates in FY2025 Q4?What changed in DB's guidance and outlook in FY2025 Q4?Give me the bull and bear case for DB after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior analysis, management moved from maintained guidance to a raised 2026 outlook, added about EUR 0.9bn of investment spending, and expanded the capital-return framework. The current analysis also highlights record 2025 pretax profit, stronger sustainable-finance activity and a possible additional buyback in the second half of 2026.
Guidance delta
Management raised its outlook to EUR 33bn of 2026 revenue and EUR 14bn of net interest income, alongside about EUR 0.9bn of investment spending.
Key takeaways
- Management described 2025 as a record year, with strong revenue growth, profitability and capital ratios.
- Operational efficiencies supported a 64% cost-income ratio and self-funded growth.
- The capital-return policy includes a EUR 1 dividend per share and a EUR 1bn buyback.
- The 2026 plan combines higher revenue expectations with continued investment and efficiency work.
Management priorities
- Scale the Global Hausbank model across divisions
- Expand sustainable finance and fee income
- Invest in technology, the operating model and efficiency projects
- Reduce costs through branch closures and workforce actions
- Continue shareholder distributions subject to capital authorization
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Analyst 52W Price Targets
$33.64Current
$9.24Low
$16.09Average
$43High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 1, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Equal Weight | Overweight | Downgrade | Apr 20, 2026 |
| Citigroup | Neutral | Sell | Upgrade | Apr 9, 2026 |
| Goldman Sachs | Neutral | Buy | Downgrade | Aug 27, 2025 |
| Erste Group | Hold | Sell | Upgrade | Mar 13, 2024 |
| Societe Generale | Hold | Buy | Downgrade | Jul 10, 2023 |
| B of A Securities | Neutral | Underperform | Upgrade | Mar 21, 2022 |
| Berenberg | Hold | Sell | Upgrade | Mar 14, 2022 |
| Kepler Cheuvreux | Buy | Hold | Upgrade | Jan 31, 2022 |
| Exane BNP Paribas | Neutral | Underperform | Upgrade | Jan 7, 2022 |
| RBC Capital | Sector Perform | Underperform | Upgrade | Jul 9, 2021 |
| CFRA | Sell | Sell | Maintain | Jan 30, 2020 |
| UBS | Neutral | Sell | Upgrade | Jul 12, 2019 |
| Bank of America | Underperform | Neutral | Downgrade | Aug 13, 2018 |
| HSBC | Buy | Hold | Upgrade | Nov 14, 2017 |
| Macquarie | Neutral | Outperform | Downgrade | Jul 28, 2017 |
| Credit Suisse | Underperform | Underperform | Maintain | Sep 19, 2016 |
| Santander | Underweight | Hold | Downgrade | Sep 6, 2016 |
| Keefe, Bruyette & Woods | Underperform | Market Perform | Downgrade | Apr 29, 2016 |
| Keefe Bruyette & Woods | Underperform | Market Perform | Downgrade | Apr 29, 2016 |
| Nord/LB | Hold | Sell | Upgrade | Feb 10, 2016 |
| JP Morgan | Neutral | Overweight | Downgrade | Oct 28, 2015 |
| Redburn Partners | Sell | Neutral | Downgrade | Oct 14, 2014 |
| S&P Capital IQ | Buy | Hold | Upgrade | Jul 29, 2014 |
| Mediobanca Securities | Neutral | Underperform | Upgrade | May 22, 2014 |
| Jefferies | Buy | Buy | Maintain | Feb 18, 2014 |
| Bankhaus Lampe | Hold | Buy | Downgrade | Feb 4, 2014 |
| Equinet | Hold | Accumulate | Downgrade | Oct 22, 2013 |
| Canaccord Genuity | Hold | Buy | Downgrade | Oct 7, 2013 |
| Oddo Securities | Buy | Neutral | Upgrade | Oct 3, 2013 |
| Hamburger Sparkasse | Hold | Sell | Upgrade | May 2, 2013 |
| Nomura | Neutral | Reduce | Upgrade | Apr 30, 2013 |
| Natixis | Buy | Neutral | Upgrade | Apr 30, 2013 |
| Bank oferica | Buy | Buy | Maintain | May 11, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $33.64. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Deutsche Bank | Analyst unavailable | $43 | $37.04 | +27.8% | Jul 7, 2026 |
| Deutsche Bank | Analyst unavailable | $29 | $9.68 | -13.8% | May 17, 2022 |
| Warburg Research | Andreas Plaesier | $15.12 | $10.25 | -55.1% | Mar 11, 2022 |
| Citigroup | Andrew Coombs | $11.96 | $10.25 | -64.4% | Mar 11, 2022 |
| Barclays | Amit Goel | $13.59 | $10.74 | -59.6% | Mar 10, 2022 |
| BNP Paribas | Jeremy Sigee | $11.96 | $10.74 | -64.4% | Mar 10, 2022 |
| Morgan Stanley | Magdalena Stoklosa | $16.75 | $15.95 | -50.2% | Feb 15, 2022 |
| Deutsche Bank | Nicolas Payen | $15.5 | $13.89 | -53.9% | Jan 31, 2022 |
| Societe Generale | Andrew T Lim | $18.49 | $13.49 | -45.0% | Jan 28, 2022 |
| Norddeutsche Landesbank | Michael Seufert | $12.51 | $12.62 | -62.8% | Dec 23, 2021 |
| KBW | Thomas Hallett | $14.14 | $12.96 | -58.0% | Aug 13, 2021 |
| Oddo BHF | Jean Sassus | $10.77 | $13.08 | -68.0% | Jun 30, 2021 |
| Independent Research | Jan Lennertz | $9.24 | $14.2 | -72.5% | Apr 29, 2021 |
Track every rating change on DB the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationDeutsche Bank AG operates as a global financial institution, delivering a wide spectrum of investment, financial, and related services to private individuals, corporate entities, and institutional clients worldwide. Its Corporate Bank division offers key services including cash management, trade finance and lending, trust and agency functions, foreign exchange, and securities services, alongside specialized risk management solutions. The company's Investment Bank segment provides expert merger and acquisition (M&A) and equity advisory services. This unit also engages in financing, general advisory, fixed income products, advanced risk management, sales and trading operations, and currency-related activities.…
Historical context
All DB earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CBOE Cboe Global Markets, Inc. | FY2026 Q3 · Calendar Q4 2026 | +5.8% | +6.8% | Cboe posts strong Q3 as options growth and new products advance |
| NWG NatWest Group plc | FY2026 Q3 · Calendar Q4 2026 | +2.0% | -9.0% | NatWest maintains guidance as Q3 growth and capital remain strong |
| ERIE Erie Indemnity Company | FY2026 Q3 · Calendar Q4 2026 | +2.1% | +5.3% | Erie pairs resilient demand initiatives with thin underwriting margins |
| COIN Coinbase Global, Inc. | FY2026 Q3 · Calendar Q4 2026 | +1189.2% | -10.6% | Coinbase offsets lower spot trading with prediction markets and AI agents |
| TPG TPG Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.3% | +7.5% | TPG raises FRE margin outlook as capital formation accelerates |
| AJG Arthur J. Gallagher & Co. | FY2026 Q3 · Calendar Q4 2026 | +0.3% | +2.9% | AJG: Q3 growth and AssuredPartners synergies support outlook |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the DB recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-01T03:00:43.866540+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-01T03:00:43.863733+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-01. For educational purposes only; not investment advice.