DB Net Debt / EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
Net Debt / EBITDA History
Historically priceyAbove avgAround avgBelow avgHistorically cheap
DB Net Debt / EBITDA by year
Yearly range of DB’s net debt / ebitda from 2016 to 2026. Over the full period it ranged from -142.2 to 460.4, averaging -3.3.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | -1.0 | 0.5 | 2.0 | 2.0 |
| 2025 | -4.5 | 0.3 | 8.5 | 8.5 |
| 2024 | -6.9 | -4.2 | -0.4 | -0.4 |
| 2023 | -8.8 | -7.3 | -5.9 | -7.1 |
| 2022 | -9.3 | -6.1 | 1.7 | 1.7 |
| 2021 | -15.6 | -14.7 | -12.7 | -12.7 |
| 2020 | -1.9 | 24.0 | 56.7 | 30.1 |
| 2019 | -26.7 | 2.4 | 23.7 | 0.3 |
| 2018 | -140.6 | -72.8 | -19.4 | -19.4 |
| 2017 | -142.2 | 63.1 | 460.4 | -46.2 |
| 2016 | -66.9 | -35.4 | -3.9 | -3.9 |
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How many years of operating earnings it would take to pay off the company's net debt. The most common leverage ratio — higher means more financial risk and less flexibility.
Formula
(Total Debt − Cash) / EBITDAHow to read this chart
Watch the trend more than the level. Declining ratio = deleveraging, growing financial flexibility. Rising ratio = increasing leverage, which constrains dividends, buybacks, and future investment.
Key caveats
- Sector context is essential: 3× is aggressive for a consumer brand but normal for a regulated utility. Always compare to sector peers.
- Large acquisitions spike the ratio temporarily — check whether the integration plan credibly drives paydown.
Pro — up to 30-year history
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.