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German residential real estate company owning rental apartments mainly in Berlin, majority-owned by Vonovia.
German residential real estate company owning rental apartments mainly in Berlin, majority-owned by Vonovia.
Earns rent from tenants, with Berlin's rent rules limiting how fast it can raise it, so income grows mainly through permitted increases, modernisation and new lettings. Vonovia, Germany's largest residential landlord, took control in 2021 and holds most of the shares, so it is run as part of that group.
Moat: narrow (scale, installed base). Concentrated portfolio in supply-constrained Berlin housing market with high occupancy.
Headquarters: Berlin, Germany · Employees: 742
Size Deutsche Wohnen (DWNI.DE) is a Germany Real Estate company (Real Estate Development) with a market value of $7.05B, the 60th largest of 205 Germany companies the cockpit tracks. Shares closed at €15.84 on 6 Nov 2026.
Performance Over six months the shares fell 20.4%, against +1.2% for the median peer and +2.6% for the Germany market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue fell 0.3% over the last twelve months (peer median +12.4%); the operating margin is 47.7% (peer median 37.4%).
Valuation It trades at 11.0× forward earnings against a peer median of 15.9× (3rd cheapest of 17).
Credit Deutsche Wohnen has 7 bonds outstanding ($2.34B), rated BBB+ by the agencies and trading like BBB- at a weighted spread of 161 bp.
Next results Next results expected around 17 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.46B | €1.35B | €1.40B | €1.33B | €1.28B |
| Revenue growth | — | -3% | +5% | +4% | — |
| Gross profit | €877M | €412M | €742M | €654M | €555M |
| EBITDA | €779M | €610M | €590M | €585M | €522M |
| Net income | €1.57B | €1.15B | -€590M | -€2.70B | -€434M |
| Free cash flow | €365M | €580M | €370M | -€251M | -€722M |
| Capital expenditure | €93.5M | €79.0M | €236M | €548M | €1.01B |
| Total debt | n/a | €8.06B | €8.36B | €8.55B | €9.07B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Deutsche Wohnen DWNI.DE | $7.05B | -20% | 0% | 48% | 11.0× | n/a |
| Vonovia VNA.DE | $16.1B | -24% | -17% | 40% | 9.4× | n/a |
| LEG Immobilien LEG.DE | $4.39B | -11% | +1% | 34% | 8.1× | n/a |
| TAG Immobilien TEG.DE | $2.51B | -20% | -5% | 31% | 10.1× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | DWNI.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.0% | +8.4% | 9th lowest of 21 |
| 6-month return | -20.4% | +1.2% | 3rd lowest of 21 |
| Distance from 52-week high | -33.9% | -14.1% | 3rd lowest of 21 |
| Revenue growth (TTM) | -0.3% | +12.4% | 5th lowest of 21 |
| Operating margin | 47.7% | 37.4% | 9th highest of 21 |
| Forward P/E | 11.0× | 15.9× | 3rd cheapest of 17 |
| Bond spread | 161 bp | 145 bp | 2nd widest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Deutsche Wohnen DWNI.DE | Germany | $7.05B | -20% | 0% | 48% | 11.0× | n/a | n/a |
| Daito Trust Construction 1878.T | Japan | $7.10B | -7% | +6% | 7% | 9.7× | n/a | n/a |
| AB Sagax SAGA-A.ST | Sweden | $6.96B | +5% | +5% | 78% | 15.7× | n/a | n/a |
| Cpi Property O5G.DE | Germany | $6.85B | -1% | -8% | 41% | n/a | n/a | n/a |
| Prestige Estates Projects PRESTIGE.NS | India | $7.42B | +10% | +66% | 24% | 38.5× | n/a | n/a |
| Ctp CTPNV.AS | Netherlands | $7.43B | -18% | +12% | 67% | 13.0× | n/a | n/a |
| Oberoi Realty OBEROIRLTY.NS | India | $6.66B | +4% | +16% | 57% | 20.0× | n/a | n/a |
| FirstService FSV.TO | Canada | $6.46B | +18% | +3% | 6% | 23.6× | n/a | n/a |
| Fastighets AB Balder BALD-B.ST | Sweden | $6.43B | -2% | +4% | 66% | 12.2× | n/a | n/a |
| Compass COMP | United States | $7.84B | +17% | +68% | 0% | n/a | n/a | n/a |
| NEPI Rockcastle NRP.AS | Netherlands | $6.34B | +9% | +20% | 62% | 12.1× | n/a | n/a |
| Wharf (Holdings) 0004.HK | Hong Kong | $7.92B | -32% | -1% | 41% | 15.7× | n/a | n/a |
| Phoenix Mills PHOENIXLTD.NS | India | $8.13B | +18% | +13% | 52% | 52.0× | n/a | n/a |
| Castellum CAST.ST | Sweden | $5.94B | +10% | -3% | 67% | 16.1× | n/a | n/a |
| Godrej Properties GODREJPROP.NS | India | $5.77B | -4% | +17% | 21% | 24.5× | n/a | n/a |
| Shanghai Zhangjiang Hi-Tech Park Development 600895.SS | China | $5.71B | -33% | +89% | 26% | 36.4× | n/a | n/a |
| PSP Swiss Property PSPN.SW | Switzerland | $8.73B | +5% | +44% | 68% | 27.9× | n/a | n/a |
| Tokyu Fudosan Holdings Corporat 3289.T | Japan | $5.69B | -7% | +6% | 14% | 8.6× | n/a | n/a |
| Hulic 3003.T | Japan | $9.16B | +7% | +25% | 23% | 11.5× | n/a | n/a |
| China Vanke 000002.SZ | China | $5.36B | -17% | -32% | -24% | n/a | n/a | n/a |
| Tsim Sha Tsui Properties 0247.HK | Hong Kong | $5.24B | -20% | +15% | 34% | n/a | n/a | n/a |
Deutsche Wohnen has 7 bonds outstanding with $2.34B face value. The agencies rate it BBB+; its bonds trade like BBB-. Weighted yield 4.70%, a spread of 161 bp over government bonds.