Deutsche Pfandbriefbank AG (FRA:PBB) Cyclically Adjusted PS Ratio: 0.78 (As of Jul. 22, 2026) — 36% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:PBB Deutsche Pfandbriefbank AG FRA:PBB
52 GF Score
Price €3.49
GF Value €4.51
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Deutsche Pfandbriefbank AG Cyclically Adjusted PS Ratio?

Deutsche Pfandbriefbank AG FRA:PBB -2.62% 52 Cyclically Adjusted PS Ratio is 0.78 as of Jul. 22, 2026, which is 36% below its 10-year median of 1.22. GuruFocus rates FRA:PBB with a GF Score™ of 52/100 and a GF Value™ of €4.51 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,299 Banks companies, Deutsche Pfandbriefbank AG ranks better than 93.53% on this metric.

As of today (2026-07-22), Deutsche Pfandbriefbank AG's current share price is €3.488. Deutsche Pfandbriefbank AG's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was €4.50. Deutsche Pfandbriefbank AG's Cyclically Adjusted PS Ratio for today is 0.78.

The historical rank and industry rank for Deutsche Pfandbriefbank AG's Cyclically Adjusted PS Ratio or its related term are showing as below:

FRA:PBB' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.63   Med: 1.22   Max: 2.28
Current: 0.8

During the past years, Deutsche Pfandbriefbank AG's highest Cyclically Adjusted PS Ratio was 2.28. The lowest was 0.63. And the median was 1.22.

FRA:PBB's Cyclically Adjusted PS Ratio is ranked better than
93.53% of 1299 companies
in the Banks industry
Industry Median: 3.37 vs FRA:PBB: 0.80

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Deutsche Pfandbriefbank AG's adjusted revenue per share data for the three months ended in Mar. 2026 was €0.770. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is €4.50 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Deutsche Pfandbriefbank AG  (FRA:PBB) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Deutsche Pfandbriefbank AG Cyclically Adjusted PS Ratio Related Terms


Deutsche Pfandbriefbank AG Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Deutsche Pfandbriefbank AG's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Deutsche Pfandbriefbank AG Cyclically Adjusted PS Ratio Chart

Deutsche Pfandbriefbank AG Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 1.70 1.40 1.05 0.93

Deutsche Pfandbriefbank AG Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.17 1.17 1.10 0.93 0.66

FRA:PBB vs RKT, FNMA, PFSI: Cyclically Adjusted PS Ratio Comparison

For the Mortgage Finance subindustry, Deutsche Pfandbriefbank AG's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Deutsche Pfandbriefbank AG Cyclically Adjusted PS Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Deutsche Pfandbriefbank AG's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Deutsche Pfandbriefbank AG's Cyclically Adjusted PS Ratio falls into.


FRA:PBB
52GF Score
Deutsche Pfandbriefbank AG FRA:PBB
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Deutsche Pfandbriefbank AG Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Deutsche Pfandbriefbank AG's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=3.488/4.50
=0.78

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Deutsche Pfandbriefbank AG's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Deutsche Pfandbriefbank AG's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=0.77/131.2583*131.2583
=0.770

Current CPI (Mar. 2026) = 131.2583.

Deutsche Pfandbriefbank AG Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.803 100.717 1.047
201609 1.515 101.017 1.969
201612 1.257 101.217 1.630
201703 0.781 101.417 1.011
201706 0.907 102.117 1.166
201709 0.803 102.717 1.026
201712 0.832 102.617 1.064
201803 0.863 102.917 1.101
201806 0.855 104.017 1.079
201809 0.969 104.718 1.215
201812 0.811 104.217 1.021
201903 0.900 104.217 1.134
201906 0.877 105.718 1.089
201909 0.989 106.018 1.224
201912 0.993 105.818 1.232
202003 0.818 105.718 1.016
202006 0.907 106.618 1.117
202009 0.643 105.818 0.798
202012 1.145 105.518 1.424
202103 1.076 107.518 1.314
202106 1.049 108.486 1.269
202109 0.842 109.435 1.010
202112 1.205 110.384 1.433
202203 1.118 113.968 1.288
202206 0.915 115.760 1.037
202209 0.937 118.818 1.035
202212 0.974 119.345 1.071
202303 0.880 122.402 0.944
202306 1.041 123.140 1.110
202309 1.133 124.195 1.197
202312 1.398 123.773 1.483
202403 1.079 125.038 1.133
202406 0.982 125.882 1.024
202409 1.093 126.198 1.137
202412 0.878 127.041 0.907
202503 0.852 127.779 0.875
202506 0.736 128.412 0.752
202509 0.662 129.255 0.672
202512 0.832 129.361 0.844
202603 0.770 131.258 0.770

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PS Ratio of 0.78 mean?
Deutsche Pfandbriefbank AG (FRA:PBB) has a Cyclically Adjusted PS Ratio of 0.78 as of Jul. 22, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Deutsche Pfandbriefbank AG and its competitors. This is 36% below median its historical median of 1.22. Over the past decade, Deutsche Pfandbriefbank AG's Cyclically Adjusted PS Ratio has ranged from 0.63 to 2.28. According to the industry distribution chart, Deutsche Pfandbriefbank AG ranks #84 out of 1299 companies in the Banks industry, placing it in the top 6.5%.
Is Deutsche Pfandbriefbank AG's Cyclically Adjusted PS Ratio too high?
Deutsche Pfandbriefbank AG's current Cyclically Adjusted PS Ratio of 0.78 is 36% below median its 10-year median of 1.22. Over the past 10 years, this metric has ranged from a low of 0.63 to a high of 2.28. The Banks industry median Cyclically Adjusted PS Ratio is 3.37. Deutsche Pfandbriefbank AG's value of 0.78 is 76.9% below this industry median. Based on the distribution chart, Deutsche Pfandbriefbank AG ranks #84 out of 1299 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Deutsche Pfandbriefbank AG has a GF Score™ of 52/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Deutsche Pfandbriefbank AG's Cyclically Adjusted PS Ratio compare to RKT and FNMA?
According to the Banks industry distribution chart, Deutsche Pfandbriefbank AG ranks #84 out of 1299 companies for Cyclically Adjusted PS Ratio. This places Deutsche Pfandbriefbank AG in the top 7% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PS Ratio is 3.37. Deutsche Pfandbriefbank AG's value of 0.78 is 76.9% below this benchmark. Historically, Deutsche Pfandbriefbank AG's own Cyclically Adjusted PS Ratio has ranged from 0.63 to 2.28 over the past decade. While the company's 10-year median is 1.22 vs. the industry median of 3.37, Deutsche Pfandbriefbank AG has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Banks company?
The median Cyclically Adjusted PS Ratio among Banks companies is 3.37, based on 1,299 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Deutsche Pfandbriefbank AG's current Cyclically Adjusted PS Ratio of 0.78 is 76.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Deutsche Pfandbriefbank AG and its competitors. For the Banks industry, the median Cyclically Adjusted PS Ratio is 3.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Deutsche Pfandbriefbank AG's current Cyclically Adjusted PS Ratio is 0.78, which is 36% below median its own 10-year median of 1.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Deutsche Pfandbriefbank AG stock overvalued right now?
Based on GuruFocus' analysis, Deutsche Pfandbriefbank AG (FRA:PBB) is currently considered Modestly Undervalued. The stock's GF Value™ is €4.51, compared to a current price of €3.49 — trading 22.7% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.78, which is 36% below median its 10-year median of 1.22 and 76.9% below the Banks industry median of 3.37. Deutsche Pfandbriefbank AG's overall GF Score™ is 52/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Deutsche Pfandbriefbank AG (FRA:PBB), the current Cyclically Adjusted PS Ratio is 0.78 as of Jul. 22, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Deutsche Pfandbriefbank AG (FRA:PBB) Overvalued in 2026?

Based on GuruFocus' analysis, Deutsche Pfandbriefbank AG stock appears to be undervalued. The current stock price of €3.49 is trading 22.7% below its estimated GF Value™ of €4.51. GuruFocus considers Deutsche Pfandbriefbank AG to be Modestly Undervalued.

Key valuation signals for FRA:PBB:

  • Cyclically Adjusted PS Ratio: 0.78 (36% below median its 10-year median of 1.22)
  • GF Value™: €4.51 vs. price of €3.49 (22.7% below fair value)
  • GF Score™: 52/100 with 3 warning signs
  • Industry Position: 76.9% below the Banks median (#84 of 1299)

No single metric tells the full story. See the FRA:PBB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Deutsche Pfandbriefbank AG Business Description

Address Parkring 28, Garching, DEU, 85748
Deutsche Pfandbriefbank AG is a specialist bank focused on financing commercial real estate and public investments. It operates through the Real Estate Finance (REF) segment, which provides financing to professional real estate investors and developers, the Non-Core (NC) segment, which includes financing for public infrastructure and public sector lending, and the Consolidation & Adjustments (C&A) segment. In the REF segment, the bank mainly serves national and international real estate companies, institutional investors, real estate funds, and, particularly in Germany, medium-sized and regional clients, with borrowers typically structured as special purpose vehicles. The majority of the bank's revenue is derived from the Real Estate Finance segment.
52GF Score

Get the complete analysis for FRA:PBB

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€3.49
Price
€4.51
GF Value