The capital structure appears vulnerable with an equity-to-assets ratio of 0.06 and a massive $1.1 trillion investment securities position that warrants further investigation for liquidity risk.
| Metric | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 |
|---|
| Cash & Short Term Investments | 350.72B | 187.89B | 213.43B | 296.41B | 222.74B | 224.99B | 186.44B | 242.6B | 281B | 245.63B | 179.29B | 143.99B | 140.46B | 192.89B | 219.18B | 159.18B | 73.7B | 97.28B | 68.91B | 48.53B | 18.52B | 25.65B | 21.25B | 34.7B | 48.46B | 55.39B |
| Cash & Due from Banks | 171.62B | 153.65B | 184.56B | 186.09B | 199.36B | 175.34B | 147.23B | 197.61B | 234.92B | 192.97B | 109.78B | 83.57B | 95.14B | 147.43B | 177.93B | 109.53B | 56.58B | 74.56B | 30.25B | 26.48B | 18.52B | 25.65B | 21.25B | 34.7B | 48.46B | 55.39B |
| Short Term Investments | 179.09B | 34.24B | 28.87B | 110.32B | 23.38B | 49.66B | 39.21B | 44.99B | 49.36B | 52.66B | 73.58B | 60.41B | 45.32B | 45.46B | 41.25B | 49.64B | 17.12B | 22.71B | 38.66B | 22.05B | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 963.68B | 227.22B | 205.95B | 940.99B | 165.63B | 866.12B | 214.67B | 256.34B | 278.96B | 279.75B | 453.47B | 326.01B | 307.11B | 338.34B | 321.79B | 364.23B | 266.86B | 273.91B | 548.35B | 473.99B | 570.76B | 458.77B | 442.02B | 356.57B | 406.34B | 451.83B |
| Investments Growth % | 324.12% | 10.33% | -78.11% | 468.14% | -80.88% | 303.47% | -16.26% | -8.11% | -0.28% | -38.31% | 39.1% | 6.16% | -9.23% | 5.14% | -11.65% | 36.49% | -2.58% | -50.05% | 15.69% | -16.95% | 24.41% | 3.79% | 23.97% | -12.25% | -10.07% | - |
| Long-Term Investments | 784.58B | 192.98B | 177.05B | 830.67B | 142.25B | 816.46B | 175.45B | 211.35B | 329.37B | 227.09B | 379.88B | 265.59B | 261.79B | 292.88B | 280.54B | 314.58B | 249.74B | 251.2B | 509.69B | 451.93B | 570.76B | 458.77B | 442.02B | 356.57B | 406.34B | 451.83B |
| Accounts Receivables | 109.97B | 65.27B | 76.72B | 74.84B | 73.58B | 76.22B | 66.02B | 69.21B | 85.39B | 107.53B | 7.76B | 117.84B | 86.42B | 100.55B | 126.41B | 107.36B | 96.88B | 108.72B | 158.71B | 71.99B | 54.17B | 0 | 3.61B | 4.21B | 5.92B | 9.17B |
| Goodwill & Intangibles | 7.56B | 7.75B | 7.33B | 7.09B | 6.82B | 6.72B | 7.03B | 9.14B | 8.84B | 8.98B | 10.08B | 14.95B | 13.93B | 14.22B | 15.8B | 15.59B | 10.17B | 9.88B | 9.38B | 8.41B | 62.89B | 0 | 3.61B | 4.21B | 5.92B | 9.17B |
| Goodwill | 2.74B | 2.96B | 2.85B | 2.92B | 2.81B | 2.74B | 2.88B | 3.88B | 3.78B | 4.1B | 4.89B | 9.52B | 9.07B | 9.3B | 10.97B | 10.76B | 7.42B | 7.53B | 7.23B | 7.14B | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 4.83B | 4.79B | 4.48B | 4.17B | 4.02B | 3.99B | 4.15B | 5.26B | 5.06B | 4.88B | 5.19B | 5.43B | 4.86B | 4.92B | 4.83B | 4.83B | 2.75B | 2.34B | 2.15B | 1.27B | 62.89B | 0 | 3.61B | 4.21B | 5.92B | 9.17B |
| PP&E (Net) | 5.92B | 6.19B | 6.18B | 6.1B | 5.54B | 5.55B | 4.93B | 2.42B | 2.66B | 2.8B | 2.85B | 2.91B | 4.42B | 4.96B | 5.51B | 5.8B | 2.78B | 3.71B | 2.41B | 4.15B | 5.08B | 5.22B | 5.78B | 8.89B | 9.82B | 10.41B |
| Other Assets | 153.26B | 1.24T | 561.89B | 96.99B | -6.22B | 188.26B | -5.99B | -7.23B | -103.29B | -17.15B | -120.57B | 1.64T | 1.54T | -19.18B | 0 | 0 | 0 | 0 | 0 | 0 | 8.24B | 7.44B | 7.84B | 9.79B | 8.96B | 9.5B |
| Total Current Assets | 477.2B | 254.96B | 213.43B | 388.66B | 297.53B | 302.2B | 1.11T | 1.13T | 1.23T | 1.35T | 1.34T | 1.43T | 1.33T | 1.7T | 1.86T | 1.57T | 1.24T | 1.94T | 1.5T | 661.74B | 407.34B | 368.01B | 346.57B | 383.78B | 901.04B | 911.65B |
| Total Non-Current Assets | 957.87B | 1.45T | 752.45B | 948.13B | 154.61B | 1.02T | 187.41B | 222.91B | 244.38B | 238.87B | 289.19B | 283.45B | 280.14B | 312.06B | 301.85B | 335.98B | 262.69B | 264.79B | 521.48B | 464.49B | 584.07B | 471.44B | 455.64B | 375.25B | 18.79B | 19.92B |
| Total Assets | 1.44T | 1.39T | 1.31T | 1.34T | 1.32T | 1.33T | 1.3T | 1.35T | 1.47T | 1.59T | 1.63T | 1.71T | 1.61T | 2.01T | 2.16T | 1.91T | 1.5T | 2.2T | 2.02T | 1.13T | 991.41B | 839.45B | 802.21B | 759.04B | 919.82B | 931.57B |
| Asset Growth % | 3.45% | 5.7% | -1.83% | 0.97% | -0.1% | 1.97% | -3.6% | -8.58% | -7.28% | -2.37% | -4.66% | 6.04% | -19.92% | -7.01% | 13.56% | 26.99% | -31.86% | 9.01% | 79.39% | 13.6% | 18.1% | 4.64% | 5.69% | -17.48% | -1.26% | - |
| Return on Assets (ROA) | 0.49% | 0.25% | 0.36% | 0.42% | 0.18% | 0.04% | -0.41% | 0.02% | -0.05% | -0.09% | -0.41% | 0.1% | 0.04% | 0.01% | 0.2% | 0.14% | 0.27% | -0.18% | 0.41% | 0.57% | 0.39% | 0.3% | 0.17% | 0.05% | 0.02% | 1.45% |
| Accounts Payable | 112.17B | 68.87B | 86.32B | 85.54B | 71.79B | 81.55B | 73.71B | 93.19B | 109.36B | 124.73B | 137.24B | 146.16B | 122.67B | 131.05B | 143.4B | 120.1B | 114.51B | 116.58B | 135.19B | 113.74B | 47.21B | 0 | 3.79B | 4.67B | 7.44B | 10.53B |
| Total Debt | 254.81B | 151.49B | 144.22B | 195.47B | 156.19B | 204.03B | 146.45B | 171.85B | 178.13B | 196.13B | 188.03B | 197.79B | 202.38B | 239.81B | 243.85B | 250.5B | 190.52B | 193.76B | 232.97B | 152.29B | 134B | 126.89B | 119.56B | 115.73B | 207.51B | 251.97B |
| Net Debt | 83.19B | -2.16B | -40.34B | 9.38B | -43.17B | 28.69B | -775M | -25.76B | -56.79B | 3.15B | 78.24B | 114.21B | 107.25B | 92.38B | 65.92B | 140.97B | 133.94B | 119.2B | 202.72B | 125.81B | 115.48B | 101.25B | 98.31B | 81.03B | 159.05B | 196.58B |
| Long-Term Debt | 142.06B | 137.11B | 130.1B | 136.79B | 148.19B | 152.54B | 141.24B | 109.28B | 119.08B | 178.83B | 168.81B | 154.85B | 142.62B | 170.75B | 178.5B | 185.51B | 147.62B | 154.65B | 179.56B | 143.82B | 113.55B | 106.79B | 97.31B | 104.15B | 171.28B | 154.91B |
| Short-Term Debt | 108.56B | 9.89B | 9.62B | 54.21B | 4.03B | 47.51B | 5.22B | 14.16B | 18.41B | 17.3B | 28.01B | 42.93B | 59.77B | 69.06B | 65.36B | 64.99B | 42.9B | 39.12B | 53.41B | 48.43B | 20.55B | 20.1B | 22.25B | 11.58B | 36.23B | 97.06B |
| Other Liabilities | 250.29B | 303.46B | 549.14B | 309.49B | 312.91B | 363.01B | 0 | -109.79B | -119.42B | -178.83B | -168.81B | -154.85B | -143.72B | -170.75B | -180.29B | -187.82B | -149.78B | -158.43B | -181.68B | -143.82B | -113.55B | -106.79B | -97.31B | -104.15B | -171.28B | -154.91B |
| Total Current Liabilities | 957.7B | 862.1B | 96.58B | 813.07B | 75.82B | 742.98B | 78.92B | 107.35B | 127.78B | 142.03B | 165.25B | 189.09B | 182.43B | 200.71B | 208.75B | 185.09B | 157.41B | 155.69B | 188.6B | 81.96B | 20.53B | 20.1B | 26.04B | 16.25B | 43.67B | 107.59B |
| Total Non-Current Liabilities | 397.16B | 445.65B | 683.73B | 451.39B | 152.66B | 520.08B | 141.78B | 158.2B | 166.51B | 179.32B | 169.55B | 156.03B | 143.72B | 172.21B | 180.29B | 187.82B | 149.78B | 158.43B | 181.68B | 132.5B | 113.47B | 106.79B | 97.31B | 104.15B | 171.28B | 154.91B |
| Total Liabilities | 1.35T | 1.31T | 1.24T | 1.26T | 1.26T | 1.26T | 1.24T | 1.28T | 1.41T | 1.53T | 1.56T | 1.64T | 1.56T | 1.96T | 2.11T | 1.86T | 1.46T | 2.17T | 1.98T | 1.09T | 961.5B | 813.56B | 774.06B | 729.02B | 879.56B | 887.77B |
| Total Equity | 80.2B | 79.43B | 74.82B | 72.33B | 68.03B | 62.2B | 57.64B | 68.74B | 68.1B | 64.82B | 67.62B | 73.22B | 54.97B | 54.41B | 54.66B | 50.39B | 37.97B | 31.91B | 38.47B | 32.81B | 29.91B | 25.89B | 28.15B | 30.02B | 40.26B | 43.8B |
| Equity Growth % | 0.97% | 6.17% | 3.44% | 6.32% | 9.38% | 7.91% | -16.15% | 0.94% | 5.06% | -4.15% | -7.65% | 33.21% | 1.02% | -0.46% | 8.47% | 32.72% | 18.97% | -17.03% | 17.25% | 9.68% | 15.56% | -8.06% | -6.21% | -25.45% | -8.08% | - |
| Equity / Assets (Capital Ratio) | 5.59% | 5.73% | 5.7% | 5.41% | 5.14% | 4.69% | 4.43% | 5.1% | 4.62% | 4.08% | 4.15% | 4.29% | 3.41% | 2.7% | 2.53% | 2.64% | 2.53% | 1.45% | 1.9% | 2.91% | 3.02% | 3.08% | 3.51% | 3.95% | 4.38% | 4.7% |
| Return on Equity (ROE) | 8.68% | 4.36% | 6.49% | 7.87% | 3.63% | 0.83% | -8.53% | 0.39% | -1.13% | -2.12% | -9.65% | 2.59% | 1.22% | 0.48% | 7.87% | 5.23% | 14.23% | -10.9% | 18.17% | 19.36% | 12.65% | 9.15% | 4.68% | 1.13% | 0.4% | 30.94% |
| Book Value per Share | 40.14 | 38.95 | 35.56 | 34.03 | 31.74 | 28.66 | 27.32 | 32.70 | 34.61 | 41.68 | 38.81 | 51.48 | 45.71 | 48.33 | 48.61 | 54.24 | 45.10 | 48.63 | 60.23 | 48.89 | 45.68 | 37.82 | 37.13 | 37.05 | 50.46 | 54.52 |
| Tangible BV per Share | 36.36 | 35.15 | 32.08 | 30.69 | 28.56 | 25.56 | 23.99 | 28.35 | 30.12 | 35.90 | 33.03 | 40.97 | 34.13 | 35.70 | 34.55 | 37.46 | 33.02 | 33.58 | 45.54 | 36.36 | -50.36 | 37.82 | 32.38 | 31.86 | 43.04 | 43.10 |
| Common Stock | 4.89B | 5.11B | 5.22B | 5.29B | 5.29B | 5.29B | 5.29B | 5.29B | 5.29B | 3.53B | 3.53B | 3.53B | 2.61B | 2.38B | 2.38B | 2.38B | 1.59B | 1.46B | 1.36B | 1.34B | 1.42B | 1.39B | 1.49B | 1.59B | 1.59B | 1.58B |
| Additional Paid-in Capital | 38.28B | 39.74B | 40.19B | 40.51B | 40.58B | 40.61B | 40.51B | 40.25B | 39.92B | 33.77B | 33.57B | 33.63B | 26.2B | 23.78B | 23.7B | 23.52B | 14.83B | 14.96B | 15.81B | 15.25B | 11.67B | 11.14B | 11.13B | 11.21B | 11.27B | 10.91B |
| Retained Earnings | 28.1B | 23.37B | 21.32B | 17.8B | 12.61B | 10.01B | 9.64B | 16.71B | 17.45B | 18.99B | 21.18B | 29.28B | 28.38B | 29.2B | 30.12B | 26B | 24.06B | 20.07B | 25.12B | 25.07B | 22.61B | 19.8B | 20.45B | 22.11B | 22.66B | 23.4B |
| Accumulated OCI | -4.15B | -1.23B | -1.76B | -1.31B | -444M | -1.12B | 421M | 253M | 520M | 3.55B | 4.4B | 1.92B | -2.46B | -1.29B | -1.98B | -2.6B | -3.78B | -4.85B | 1.13B | -2.19B | -2.41B | -4.87B | -3.94B | -2.93B | 5.22B | 8.04B |
| Treasury Stock | -185M | -713M | -481M | -331M | -6M | -7M | -4M | -15M | -9M | 0 | -10M | -8M | -13M | -60M | -823M | -450M | -48M | -939M | -2.82B | -2.38B | -3.37B | -1.57B | -969.51M | -1.96B | -479.91M | -119.25M |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Credit provision volatility
According to the provided financial data, Deutsche Bank has maintained a consistent total asset base of approximately $1.4 trillion over the last ten quarters, suggesting that the bank's recent strategic focus has prioritized balance sheet stabilization over aggressive expansion of its total footprint.
The stagnation in total assets indicates that the bank is likely managing its risk-weighted assets tightly to preserve capital ratios. Investors should monitor whether this lack of growth reflects a deliberate de-risking strategy or an inability to capture new market share in a stagnant European economic environment.
As reported in financial statements, the bank's equity-to-assets ratio has hovered near 0.06 throughout the 2025 fiscal year, which suggests that the capital buffer remains thin and highly sensitive to any unexpected shocks in the loan book or further litigation-related capital outflows.
A 6% equity-to-assets ratio leaves little room for error, particularly given the bank's historical exposure to complex financial instruments. This level of capitalization warrants further investigation into the bank's ability to sustain dividend payments and share buybacks if regulatory capital requirements tighten further.
Based on the reported figures, cash and bank balances reached $164.7 billion in 2025Q4, representing a significant portion of the balance sheet that appears to be held to satisfy liquidity coverage requirements rather than for active deployment into higher-yielding assets.
The high concentration of cash suggests a defensive posture, likely intended to mitigate the risks associated with the bank's volatile investment banking operations. This liquidity profile may indicate that the bank is prioritizing stability over potential net interest margin expansion in the current rate environment.
Data from the 2025Q4 balance sheet shows a massive $1.1 trillion in investment securities, a sharp increase from the $227.2 billion reported in 2024Q4, which may indicate a significant shift in the bank's asset allocation strategy toward potentially less liquid or higher-duration instruments.
This rapid expansion in the securities portfolio introduces substantial interest rate and market risk that could lead to significant unrealized losses if market conditions deteriorate. Investors should monitor the composition of this portfolio, as it appears to be a primary driver of balance sheet volatility.
Quick answers to the most common questions about buying DB stock.
As of 2025, Deutsche Bank AG (DB) had total assets of $1.44T including $477.20B in current assets.
Deutsche Bank AG (DB) carries total debt of $254.81B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Deutsche Bank AG (DB) has total shareholders' equity (book value) of $78.64B ($40.14 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Deutsche Bank AG (DB) reported a current ratio of 0.50x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.