DB EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
DB's ev/ebitda is higher than 95% of the last 10 years.
EV/EBITDA History
DB EV/EBITDA by year
Yearly range of DB’s ev/ebitda from 2017 to 2026. Over the full period it ranged from -80.2 to 55.1, averaging -3.8.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 4.0 | 9.3 | 15.3 | 9.4 |
| 2025 | 1.3 | 5.5 | 15.1 | 15.1 |
| 2024 | -2.8 | -0.4 | 5.8 | 5.8 |
| 2023 | -5.3 | -1.3 | 6.4 | -4.3 |
| 2022 | -7.2 | -4.0 | -1.3 | -3.4 |
| 2021 | -9.4 | 6.6 | 55.1 | -5.8 |
| 2020 | 50.2 | 50.2 | 50.2 | 50.2 |
| 2019 | -15.9 | -10.8 | -6.4 | -14.6 |
| 2018 | -80.2 | -38.7 | -8.1 | -8.1 |
| 2017 | -3.9 | 11.2 | 28.7 | 19.6 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is DB EV/EBITDA High or Low Right Now?
Deutsche Bank AG's EV/EBITDA is currently 9.4, which is near historic high relative to its 10-year historical range. The 10-year median EV/EBITDA for DB is approximately -2.9. See all DB valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.