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DWS Group GmbH & Co. KGaA (DWS) Fair Value & Analysis

Financial Services · DE · Market cap €13.5B · ISIN DE000DWS1007

What is DWS Group GmbH & Co. KGaA really worth?

DG DWS Group GmbH & Co. KGaA DWS · XETRA
Price€75.95
Fair Value€57.04
Upside−24.9%
Quality76/100

A strong business, but trading 33% above our fair value of €57.04.

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Strengths

Healthy Growth (revenue 5y +5.4 %/yr)
Highly profitable · 21.3% net margin
Low debt · generates free cash flow
Ranks above peers (9/15)
Wide moat 70/100
Evidence: High Range €38.88 – €75.32

Fair value as of: Aug 30, 2026

From 13 valuation models · updated 6 days ago

Share price +0.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A high-quality business (quality 76/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • A fairly wide model range (€38.88 to €75.32) leaves room in how you read the outcome.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

€76.45 €16.94 Fair Value €57.04 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.

How to read this chart

60‑month range €16.94 – €76.45 · fair‑value band €38.88 – €75.32 · the €75.95 price screens above the €57.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.

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Analysis

DWS Group GmbH & Co. KGaA (DWS) currently trades at €75.95, while our model-based Fair Value estimate is €57.04, implying the stock looks roughly 33.2% overvalued today. The Quality Score stands at 76/100 (high quality), in the Financial Services sector. Bull case: the DCF Models group reads highest at a median of €64.45 per share, and 2 of the 13 models we run sit above the €75.95 price. Bear case: the Earnings-Based group reads lowest at €24.94, and 11 of the 13 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, DWS Group GmbH & Co. KGaA generated revenue of €4.7B at a net margin of 21.3%. Revenue grew 8.9% year over year. It earns a return on equity of 12.4%. The balance sheet holds a net cash position of €863M. Fundamentals as of Aug 30, 2026

Our scenario range runs from €38.88 (bear case) to €75.32 (bull case); at €75.95, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 64% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −25%, DWS screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €3.38 per share, which is 5.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF best evidence €37.08 €51.37 €71.42 79
Owner Earnings €58.94 €86.15 €126.46 76
Rev-Margin DCF €34.72 €51.43 €70.07 73
All 13 models by family
DCF Models
Owner Earnings €58.94 €86.15 €126.46 76
5Y P/E Exit €41.94 €64.45 €87.54 71
10Y P/E Exit €39.59 €58.27 €80.31 64
Earnings-Based
Graham-Dodd €31.52 €87.29 €114.66 65
Lynch FV €17.46 €24.94 €32.42 61
Dividend Discount
Gordon GGM €20.20 €42.00 €66.63 66
DDM Multi-Stage €20.20 €31.80 €44.07 66
Multiples
P/E Multiple €45.19 €60.26 €75.32 63
P/B Multiple €39.17 €52.22 €65.28 55
Asset-Based
NCAV (Graham) €18.65 €24.99 €37.30 54
Growth DCF
Growth DCF best evidence €37.08 €51.37 €71.42 79
Rev-Margin DCF €34.72 €51.43 €70.07 73
Economic Profit
Residual Income €35.00 €41.56 €79.26 73

Widest divergence: DCF Models (€64.45) versus Earnings-Based (€24.94). Highest evidence: Growth DCF (79).

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Key figures & financial health

P/E ratio 15.3
P/S ratio 3.27 P/E × margin
EPS (TTM) €4.97 price ÷ EPS = P/E 15.3
Dividend yield 3.6% payout 54.3%
Net margin 21.4% FY2025
Return on equity 12.4% TTM
More key figures
Profitability
Return on assets (EBIT) 9.9% avg 5y
Operating margin 45.9% TTM
Growth
Revenue (TTM) €4.7B TTM
Revenue growth (YoY) +8.9% 3y avg +3.6%
EPS growth (YoY) +33.3%
Balance sheet & cash flow
Free cash flow €567M FY2025
Net cash €863M FY2025

Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 76/100

Of which business quality 71 · Market factors (momentum, volatility) 84

Profitability 51
Margins and returns on capital today
Quality Growth 77
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 92
Price trend over the last 3–12 months (market factor)
52W Momentum 97
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

DWS Group GmbH & Co. KGaA offers asset management services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company's products and solutions cover equities, fixed income, cash, real estate, infrastructure, and private equity, as well as a range of sustainable investments.

Full company description

DWS Group GmbH & Co. KGaA offers asset management services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company's products and solutions cover equities, fixed income, cash, real estate, infrastructure, and private equity, as well as a range of sustainable investments. Within private equity, the firm specializes in co-investment, emerging markets, small and medium-sized companies, direct buyout, secondaries PE markets and structured capital solutions to private equity firms. The firm typical private equity investments include follow-on equity capital to fund M&A for an existing portfolio company, taking a minority interest in a portfolio company to allow for partial liquidity or providing flexible capital for continuation situations around a single asset. The firm also takes majority stakes in its portfolio companies. Within private equity, the firm typically invests in North America and Europe in seasoned, performing assets. It serves retail and institutional investors. The company is based in Frankfurt am Main, Germany.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

DWS Group GmbH & Co. KGaA reported revenue of €4.3B in FY2025 versus €3.9B in FY2021, a compound +3.0%/yr. Reported net income was €927M in FY2025, compounding +4.4%/yr from FY2021.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€4.3B
Latest YoY
+8.8%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.6%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.4%
Avg. revenue growth/yr (10Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+14.4% (10.8 + 3.6)
Revenue +3.0%/yr
FY21 €3.9B
FY22 €3.9B
FY23 €3.9B
FY24 €4.0B
FY25 €4.3B
Net income +4.4%/yr
FY21 €780M
FY22 €594M
FY23 €551M
FY24 €649M
FY25 €927M
Character of growth · EPS growth decomposed (2015-2025) +5.4 % p.a.
Revenue per share +6.2 %

of which total revenue +6.2 % · buybacks/dilution +0.0 %

EBIT margin −0.7 %
Tax rate −0.2 %
Residual (interest, one-offs) +0.0 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

DWS screens 33% overvalued. Compare with Blackstone Inc →

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Cite: Fair Value Calculator (2026). "DWS Group GmbH & Co. KGaA Fair Value". https://www.fairvalue-calculator.com/stock/DWS

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Asset Management · 697 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 76 · Top 25%
Fair Value upside −25% · Below median
Return on equity (TTM) 12% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 21% · Above median
Operating margin (TTM) 46% · Above median
Revenue growth 9% · Above median
Dividend yield (TTM) 3.6% · Below median

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 15.3× · Pricier than median
P/B 2.10× · Pricier than 75% of peers
P/S (TTM) 3.37× · Cheaper than median
P/FCF 27.7× · Pricier than 75% of peers
EV/EBITDA 10.2× · Pricier than median
PEG 1.20× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 40
FUTURE45 · sector 14
PAST50 · sector 24
HEALTH100 · sector 95
DIVIDEND71 · sector 81

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $142.39 $52.88 −63%
Investor AB INVEB kr 417.20 kr 824.66 +98%
Brookfield Corporation BN C$55.74 C$10.67 −81%
KKR & Co KKR $108.68 $19.97 −82%
Apollo Global Management, Inc APO $135.04 $101.04 −25%
State Street Corporation STT $193.33 $138.33 −28%
Ameriprise Financial, Inc AMP $559.32 $515.24 −8%
Ares Management Corporation ARES $143.10 $30.88 −78%
Northern Trust Corporation NTRS $186.79 $122.02 −35%
Raymond James Financial, Inc RJF $181.10 $142.42 −21%

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Frequently asked questions

Is DWS Group GmbH & Co. KGaA (DWS) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of €57.04 versus a price of €75.95, about −25% upside (overvalued).
What is the fair value of DWS?
Our model-based fair value for DWS Group GmbH & Co. KGaA is €57.04 (as of Aug 30, 2026), built from audited fundamentals. The current price: €75.95.
What is the quality score of DWS?
DWS Group GmbH & Co. KGaA has a Quality Score of 76/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of DWS Group GmbH & Co. KGaA (DWS)?
DWS Group GmbH & Co. KGaA reported trailing-twelve-month revenue of about €4.7B (latest available figure, as of Aug 30, 2026).
What is the net profit margin of DWS?
The net profit margin of DWS Group GmbH & Co. KGaA is about 21.3%, meaning it keeps roughly 21.3% of revenue as net income. Based on the latest reported figures.
Does DWS Group GmbH & Co. KGaA pay a dividend?
DWS Group GmbH & Co. KGaA currently shows a dividend yield of about 3.55% relative to its recent price (as of Aug 30, 2026).
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