(PBB) Deutsche Pfandbriefbank - Overview
Stock: Commercial Real Estate Loans, Public Loans
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 2.70% |
| Yield on Cost 5y | 2.83% |
| Yield CAGR 5y | -28.69% |
| Payout Consistency | 82.1% |
| Payout Ratio | - |
| Risk 5d forecast | |
|---|---|
| Volatility | 33.2% |
| Relative Tail Risk | -19.9% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.66 |
| Alpha | -29.91 |
| Character TTM | |
|---|---|
| Beta | 0.325 |
| Beta Downside | 0.566 |
| Drawdowns 3y | |
|---|---|
| Max DD | 57.66% |
| CAGR/Max DD | -0.26 |
Description: PBB Deutsche Pfandbriefbank December 24, 2025
Deutsche Pfandbriefbank AG (XETRA:PBB) is a German-based lender that focuses on financing commercial real-estate assets and public-sector projects across Germany and wider Europe. Its operations are split between a Real Estate Finance segment-servicing professional investors such as property funds, institutional owners, and mid-size companies with loans for office, residential, retail, logistics, and business-hotel assets-and a Non-Core segment that provides Pfand-brief-eligible funding for public-infrastructure development and general public-sector financing.
As of Q3 2024, the bank reported a loan-portfolio growth of roughly 6 % YoY, driven largely by increased demand for logistics and data-center properties amid e-commerce expansion. Its Common-Equity-Tier-1 (CET1) ratio stood at 13.2 %-comfortably above the 10.5 % regulatory minimum-while the net interest margin (NIM) hovered around 1.4 % in a low-rate environment, reflecting pressure on profitability but also the bank’s reliance on high-quality, low-risk Pfandbrief-backed assets. A key sector driver is the German government’s “Infrastructure 2025” plan, which earmarks €30 billion for transport and energy projects, potentially expanding the Non-Core pipeline.
Given the bank’s niche positioning in Pfandbrief-secured lending and the current macro-environment, a deeper dive into its credit-risk metrics and the evolving European real-estate cycle is warranted; you might find ValueRay’s analytical tools helpful for that next step.
Piotroski VR‑10 (Strict, 0-10) 2.5
| Net Income: -177.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA -1.53 > 1.0 |
| NWC/Revenue: -5895 % < 20% (prev 413.1%; Δ -6308 % < -1%) |
| CFO/TA -0.01 > 3% & CFO -579.0m > Net Income -177.0m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 0.10 > 1.5 & < 3 |
| Outstanding Shares: last quarter (134.5m) vs 12m ago 0.0% < -2% |
| Gross Margin: 27.42% > 18% (prev 0.93%; Δ 2649 % > 0.5%) |
| Asset Turnover: 0.68% > 50% (prev 1.45%; Δ -0.77% > 0%) |
| Interest Coverage Ratio: -0.09 > 6 (EBITDA TTM -207.0m / Interest Expense TTM 2.49b) |
Altman Z'' -2.64
| A: -0.41 (Total Current Assets 2.01b - Total Current Liabilities 19.64b) / Total Assets 42.57b |
| B: 0.02 (Retained Earnings 955.0m / Total Assets 42.57b) |
| C: -0.00 (EBIT TTM -218.0m / Avg Total Assets 43.88b) |
| D: 0.03 (Book Value of Equity 1.33b / Total Liabilities 39.42b) |
| Altman-Z'' Score: -2.64 = D |
What is the price of PBB shares?
Over the past week, the price has changed by +1.58%, over one month by -0.24%, over three months by +5.69% and over the past year by -21.70%.
Is PBB a buy, sell or hold?
What are the forecasts/targets for the PBB price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 5 | 17.9% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 3.8 | -9.9% |
PBB Fundamental Data Overview February 02, 2026
P/E Forward = 19.305
P/S = 11.4544
P/B = 0.1777
P/EG = -0.5
Revenue TTM = 299.0m EUR
EBIT TTM = -218.0m EUR
EBITDA TTM = -207.0m EUR
Long Term Debt = 13.90b EUR (from longTermDebt, last quarter)
Short Term Debt = 5.96b EUR (from shortTermDebt, last fiscal year)
Debt = 21.58b EUR (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 15.40b EUR (from netDebt column, last quarter)
Enterprise Value = 18.27b EUR (561.3m + Debt 21.58b - CCE 3.87b)
Interest Coverage Ratio = -0.09 (Ebit TTM -218.0m / Interest Expense TTM 2.49b)
EV/FCF = -30.30x (Enterprise Value 18.27b / FCF TTM -603.0m)
FCF Yield = -3.30% (FCF TTM -603.0m / Enterprise Value 18.27b)
FCF Margin = -201.7% (FCF TTM -603.0m / Revenue TTM 299.0m)
Net Margin = -59.20% (Net Income TTM -177.0m / Revenue TTM 299.0m)
Gross Margin = 27.42% ((Revenue TTM 299.0m - Cost of Revenue TTM 217.0m) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev none%)
Tobins Q-Ratio = 0.43 (Enterprise Value 18.27b / Total Assets 42.57b)
Interest Expense / Debt = 11.52% (Interest Expense 2.49b / Debt 21.58b)
Taxrate = 13.46% (14.0m / 104.0m)
NOPAT = -188.7m (EBIT -218.0m * (1 - 13.46%)) [loss with tax shield]
Current Ratio = 0.10 (Total Current Assets 2.01b / Total Current Liabilities 19.64b)
Debt / Equity = 6.83 (Debt 21.58b / totalStockholderEquity, last quarter 3.16b)
Debt / EBITDA = -74.42 (negative EBITDA) (Net Debt 15.40b / EBITDA -207.0m)
Debt / FCF = -25.55 (negative FCF - burning cash) (Net Debt 15.40b / FCF TTM -603.0m)
Total Stockholder Equity = 3.29b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.40% (Net Income -177.0m / Total Assets 42.57b)
RoE = -5.38% (Net Income TTM -177.0m / Total Stockholder Equity 3.29b)
RoCE = -1.27% (EBIT -218.0m / Capital Employed (Equity 3.29b + L.T.Debt 13.90b))
RoIC = -0.85% (negative operating profit) (NOPAT -188.7m / Invested Capital 22.18b)
WACC = 9.90% (E(561.3m)/V(22.14b) * Re(7.11%) + D(21.58b)/V(22.14b) * Rd(11.52%) * (1-Tc(0.13)))
Discount Rate = 7.11% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 0.0 | Cagr: 0.0%
Fair Price DCF = unknown (Cash Flow -603.0m)
EPS Correlation: -58.01 | EPS CAGR: -40.48% | SUE: 1.43 | # QB: 2
Revenue Correlation: -48.17 | Revenue CAGR: -42.74% | SUE: -0.06 | # QB: 0
EPS next Year (2026-12-31): EPS=0.68 | Chg30d=-0.023 | Revisions Net=-3 | Growth EPS=+139.5% | Growth Revenue=+12.5%