Public Class Form1
    Dim s As String, fo As Font
 
 
    Private Sub Bild_Paint(sender As Object, e As PaintEventArgs) Handles _
      Bild.Paint
        Dim hdc As IDeviceContext
        hdc = e.Graphics
        fo = New Font("Calligraph421 BT", 40, FontStyle.Regular)
        s = "Alle meine Entchen"
        Dim si As Size = TextRenderer.MeasureText(s, fo)
        Dim si1 As SizeF = e.Graphics.MeasureString(s, fo)
        Debug.Print(si.Width.ToString + " " + si.Height.ToString)
        Dim bm As New Bitmap(Bild.Width, Bild.Height)
        Bild.Image = bm
        Using gr As Graphics = Graphics.FromImage(Bild.Image)
            gr.DrawString(s, fo, Brushes.Black, New Point(0, 0))
            gr.DrawRectangle(Pens.Red, New Rectangle(0, 0, si1.Width, _
              si1.Height))
            TextRenderer.DrawText(gr, s, fo, New Point(0, 40), Color.Black)
            gr.DrawRectangle(Pens.Red, New Rectangle(0, 40, si.Width, _
              si.Height))
        End Using
    End Sub
End Class

Dont debug, because there will allways be one more bug