Deutsche Pfandbriefbank (PBB) AI Stock Analysis

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Deutsche Pfandbriefbank

(XETRA:PBB)

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Rating:43Neutral

Price Target:EUR 2.50▼(-16.50% Downside)

Action:reiterated

Date:08/06/26

The score is held down primarily by weak recent financial performance (losses, high leverage, and negative/volatile cash flows) and bearish-leaning technical signals (price below key moving averages, negative MACD). Valuation is somewhat supported by the higher dividend yield, but the negative P/E indicates earnings are currently pressured.

Positive Factors

Specialist lending franchiseA focused franchise in commercial real estate and public investment finance gives pbb a defined market position and specialized underwriting experience. That expertise can support repeat lending relationships, disciplined product execution, and durable relevance across the medium-term financing cycle.

Negative Factors

Sharp profitability deteriorationThe swing from net margins of roughly 23–24% in 2023–2024 to a €284m loss in 2025 demonstrates substantial earnings instability. Persistent negative operating profitability would weaken capital generation, reduce strategic flexibility, and make future results more dependent on a recovery in credit conditions.

Deutsche Pfandbriefbank (PBB) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 377.07M
Dividend Yield: 5.35%
Average Volume (3M): 380.51K
Price to Earnings (P/E): -7.8
Beta (1Y): 1.36
Revenue Growth: -20.56%
EPS Growth: 76.04%
Country: Germany
Employees: 1,165
Sector: General
Sector Strength: 55
Industry: Banks

Deutsche Pfandbriefbank Business Overview & Revenue Model

Company Description

Deutsche Pfandbriefbank AG is a financial institution that specializes in providing funding solutions for both commercial property ventures and public sector investments. Within its commercial real estate activities, the bank offers a comprehensive s...

How the Company Makes Money

pbb primarily makes money by earning net interest income: it originates and holds loan assets (notably commercial real estate loans and public investment finance loans) and finances these assets through covered bonds (Pfandbriefe), other debt instrum...

Deutsche Pfandbriefbank Financial Statement Overview

Summary

Fundamentals are weak in the latest year: profitability swung to a sizeable net loss (€-284m) with a negative EBIT margin (~-11%), leverage remains high (debt-to-equity ~6.9x), and operating/free cash flow have been negative in 2024–2025. Prior years showed strong profitability and at least one year of solid cash generation (2023), which prevents an even lower score, but recent deterioration dominates.

Income Statement

34Negative

Balance Sheet

38Negative

Cash Flow

27Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	975.00M	2.25B	374.00M	391.00M	1.64B	1.59B
Gross Profit	38.00M	27.00M	374.00M	391.00M	487.00M	510.00M
EBITDA	-265.00M	-229.00M	125.00M	109.00M	235.00M	266.00M
Net Income	-308.00M	-284.00M	90.00M	91.00M	188.00M	229.00M
Balance Sheet
Total Assets	39.88B	39.88B	44.17B	50.88B	53.01B	58.40B
Cash, Cash Equivalents and Short-Term Investments	1.56B	1.56B	2.01B	2.73B	1.04B	6.61B
Total Debt	19.28B	19.28B	21.58B	27.38B	30.08B	32.85B
Total Liabilities	37.08B	37.08B	40.75B	47.52B	49.88B	55.27B
Stockholders Equity	2.81B	2.81B	3.42B	3.37B	3.42B	3.12B
Cash Flow
Free Cash Flow	-140.00M	-140.00M	-2.22B	398.00M	-32.00M	213.00M
Operating Cash Flow	-133.00M	-133.00M	-2.19B	421.00M	-13.00M	228.00M
Investing Cash Flow	-309.00M	-309.00M	1.51B	1.44B	-5.35B	1.13B
Financing Cash Flow	-10.00M	-10.00M	-31.00M	-181.00M	-201.00M	-126.00M

Deutsche Pfandbriefbank Technical Analysis

Technical Analysis SentimentNeutral

Last Price2.99

Price Trends

50DMA3.10Negative

100DMA3.26Negative

200DMA3.34Negative

Market Momentum

MACD-0.07Negative

RSI53.77Neutral

STOCH68.87Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:PBB, the sentiment is Neutral. The current price of 2.99 is above the 20-day moving average (MA) of 2.88, below the 50-day MA of 3.10, and below the 200-day MA of 3.34, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 53.77 is Neutral, neither overbought nor oversold. The STOCH value of 68.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DE:PBB.

Deutsche Pfandbriefbank Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

DE:PBB against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DE:HYQ	67Neutral	EUR 534.69M	20.24	7.55%	―	-4.72%	65.65%
DE:PAT	64Neutral	EUR 557.13M	21.30	2.60%	5.45%	3.30%	27.90%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
DE:HABA	54Neutral	EUR 327.00M	-43.94	-2.07%	9.44%	-3.50%	-150.86%
DE:BRNK	50Neutral	EUR 30.49M	-0.11	-45.53%	―	―	―
DE:DMRE	44Neutral	EUR 21.95M	-0.36	-45.19%	―	29.46%	43.54%
DE:PBB	43Neutral	EUR 377.07M	-7.77	-0.96%	5.35%	-20.56%	76.04%

* General Sector Average

Performance Comparison

DE:PBB and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:PBB	Deutsche Pfandbriefbank	2.99	-1.04	-25.71%
DE:DMRE	DEMIRE Deutsche Mittelstand Real Estate ate ate	0.20	-0.27	-57.08%
DE:BRNK	DIC ASSET	0.36	-1.57	-81.50%
DE:HABA	Hamborner REIT	4.06	-0.39	-8.76%
DE:HYQ	HYPOPORT AG	86.85	-31.75	-26.77%
DE:PAT	Patrizia Immobilien	6.60	-0.40	-5.73%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 06, 2026

Deutsche Pfandbriefbank AI Stock Analysis