(PBB) Deutsche Pfandbriefbank - Overview
Sector: Financial Services | Industry: Mortgage Finance | Exchange: XETRA (Germany) | Market Cap: 453m EUR | Total Return: -34.5% in 12m
Avg Turnover: 1.20M
Qual. Beats: 0
Rev. Trend: -25.4%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Deutsche Pfandbriefbank AG (PBB) is a specialized German lender focused on commercial real estate (CRE) and public investment finance. The company provides senior debt financing for institutional investors and property developers across Europe and the United States, covering asset classes such as office, residential, retail, and logistics properties.
The business model relies heavily on the issuance of Pfandbriefe, which are covered bonds regulated under German law that offer high security to investors and lower refinancing costs for the bank. In the CRE sector, lenders typically focus on loan-to-value ratios and debt service coverage to mitigate risks associated with fluctuating property valuations and interest rate cycles.
The bank also manages a Non-Core segment consisting of public sector infrastructure financing and legacy assets. Investors can use ValueRay to further analyze the banks valuation metrics and credit exposure. Headquartered in Garching, Germany, the firm maintains a diverse geographic footprint across major European markets and North America.
- US commercial real estate exposure drives loan loss provision volatility
- Higher interest rates increase net interest margin and funding costs
- Commercial property valuation declines impact Pfandbrief collateralization ratios
- Regulatory capital requirements constrain dividend payout potential and growth
- European public sector financing volume stabilizes long-term asset base stability
| Net Income: -288.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA -1.09 > 1.0 |
| NWC/Revenue: -342.7% < 20% (prev -2.76k%; Δ 2.42k% < -1%) |
| CFO/TA -0.00 > 3% & CFO -133.0m > Net Income -288.0m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 0.28 > 1.5 & < 3 |
| Outstanding Shares: last quarter (134.5m) vs 12m ago -0.00% < -2% |
| Gross Margin: -93.14% > 18% (prev 0.93%; Δ -9.41k% > 0.5%) |
| Asset Turnover: 2.81% > 50% (prev 1.51%; Δ 1.30% > 0%) |
| Interest Coverage Ratio: -0.27 > 6 (EBITDA TTM -209.0m / Interest Expense TTM 848.0m) |
| A: -0.10 (Total Current Assets 1.56b - Total Current Liabilities 5.50b) / Total Assets 39.7b |
| B: 0.02 (Retained Earnings 903.0m / Total Assets 39.7b) |
| C: -0.01 (EBIT TTM -230.0m / Avg Total Assets 41.0b) |
| D: 0.02 (Book Value of Equity 903.0m / Total Liabilities 36.6b) |
| Altman-Z'' = -0.59 = B |
As of May 30, 2026, the stock is trading at EUR 3.69 with a total of 255,818 shares traded.
Over the past week, the price has changed by +0.51%,
over one month by +8.38%,
over three months by -3.93% and
over the past year by -34.51%.
Deutsche Pfandbriefbank has no consensus analysts rating.
P/E Forward = 19.0476
P/S = 37.7427
P/B = 0.1516
P/EG = -0.5
Revenue TTM = 1.15b EUR
EBIT TTM = -230.0m EUR
EBITDA TTM = -209.0m EUR
Long Term Debt = 13.0b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 5.50b EUR (from shortTermDebt, last fiscal year)
Debt = 19.3b EUR (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 17.4b EUR (calculated: Debt 19.3b - CCE 1.88b)
Enterprise Value = 17.9b EUR (452.9m + Debt 19.3b - CCE 1.88b)
Interest Coverage Ratio = -0.27 (Ebit TTM -230.0m / Interest Expense TTM 848.0m)
EV/FCF = -60.33x (Enterprise Value 17.9b / FCF TTM -296.0m)
FCF Yield = -1.66% (FCF TTM -296.0m / Enterprise Value 17.9b)
FCF Margin = -25.72% (FCF TTM -296.0m / Revenue TTM 1.15b)
Net Margin = -25.02% (Net Income TTM -288.0m / Revenue TTM 1.15b)
Gross Margin = -93.14% ((Revenue TTM 1.15b - Cost of Revenue TTM 2.22b) / Revenue TTM)
Gross Margin QoQ = none% (prev 14.19%)
Tobins Q-Ratio = 0.45 (Enterprise Value 17.9b / Total Assets 39.7b)
Interest Expense / Debt = 4.40% (Interest Expense 848.0m / Debt 19.3b)
Taxrate = 16.67% (1.00m / 6.00m)
NOPAT = -191.7m (EBIT -230.0m * (1 - 16.67%)) [loss with tax shield]
Current Ratio = 0.06 (Total Current Assets 1.56b / Total Current Liabilities 24.4b)
Debt / Equity = 6.22 (Debt 19.3b / totalStockholderEquity, last quarter 3.10b)
Debt / EBITDA = -83.28 (negative EBITDA) (Net Debt 17.4b / EBITDA -209.0m)
Debt / FCF = -58.80 (negative FCF - burning cash) (Net Debt 17.4b / FCF TTM -296.0m)
Total Stockholder Equity = 3.05b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.70% (Net Income -288.0m / Total Assets 39.7b)
RoE = -9.44% (Net Income TTM -288.0m / Total Stockholder Equity 3.05b)
RoCE = -1.43% (EBIT -230.0m / Capital Employed (Equity 3.05b + L.T.Debt 13.0b))
RoIC = -0.49% (negative operating profit) (NOPAT -191.7m / Invested Capital 39.3b)
WACC = 3.79% (E(452.9m)/V(19.7b) * Re(8.94%) + D(19.3b)/V(19.7b) * Rd(4.40%) * (1-Tc(0.17)))
Discount Rate = 8.94% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -24.85 | Cagr: 0.0%
[DCF] Fair Price = unknown (Cash Flow -296.0m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: -25.39 | Revenue CAGR: -12.58% | SUE: -0.04 | # QB: 0
EPS current Year (2026-12-31): EPS=0.11 | Chg30d=+42.27% | Revisions=-20% | GrowthEPS=+104.6% | GrowthRev=-5.3%
EPS next Year (2027-12-31): EPS=0.49 | Chg30d=-1.62% | Revisions=-33% | GrowthEPS=+355.7% | GrowthRev=+10.2%
[Analyst] Revisions Ratio: -33%