Analysis Article • Aug 08
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German (DAX) Market Analysis & Valuation
UpdatedAug 11, 2026
DataAggregated Company Financials
Companies777
- 7D0.7%
- 3M5.8%
- 1Y3.7%
- YTD3.0%
In the last week, the market has stayed flat, however the Information Technology sector stood out, gaining 6.0%. Meanwhile, the market is actually up 3.7% over the past year. As for the next few years, earnings are expected to grow by 16% per annum.
Market Valuation and Performance
Has the German Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 11 Aug 2026 | €2.7t | €2.6t | €127.2b | 17.1x | 21.2x | 1x |
| Thu, 09 Jul 2026 | €2.6t | €2.6t | €126.6b | 16.8x | 20.5x | 1x |
| Sat, 06 Jun 2026 | €2.6t | €2.6t | €127.1b | 17.1x | 20.6x | 1x |
| Mon, 04 May 2026 | €2.6t | €2.6t | €125.9b | 18x | 20.6x | 1x |
| Wed, 01 Apr 2026 | €2.5t | €2.6t | €124.7b | 17.5x | 19.7x | 0.9x |
| Fri, 27 Feb 2026 | €2.7t | €2.7t | €106.7b | 18x | 25.3x | 1x |
| Sun, 25 Jan 2026 | €2.7t | €2.7t | €104.1b | 18.2x | 25.5x | 1x |
| Tue, 23 Dec 2025 | €2.6t | €2.7t | €103.6b | 18.1x | 25.1x | 1x |
| Thu, 20 Nov 2025 | €2.5t | €2.7t | €104.7b | 17.4x | 23.6x | 0.9x |
| Sat, 18 Oct 2025 | €2.5t | €2.7t | €101.5b | 18.2x | 25x | 0.9x |
| Mon, 15 Sep 2025 | €2.5t | €2.7t | €101.9b | 18.3x | 24.8x | 0.9x |
| Wed, 13 Aug 2025 | €2.6t | €2.7t | €103.8b | 19.2x | 25.1x | 1x |
| Fri, 11 Jul 2025 | €2.6t | €2.7t | €104.0b | 19x | 25.2x | 1x |
| Sun, 08 Jun 2025 | €2.6t | €2.7t | €103.6b | 19.3x | 25.2x | 1x |
| Tue, 06 May 2025 | €2.6t | €2.7t | €107.9b | 19x | 23.7x | 1x |
| Thu, 03 Apr 2025 | €2.5t | €2.7t | €109.0b | 17.9x | 22.7x | 0.9x |
| Sat, 01 Mar 2025 | €2.5t | €2.7t | €124.3b | 16.6x | 20.2x | 0.9x |
| Mon, 27 Jan 2025 | €2.4t | €2.7t | €114.2b | 16.7x | 21x | 0.9x |
| Wed, 25 Dec 2024 | €2.3t | €2.7t | €114.2b | 15.5x | 19.8x | 0.8x |
| Fri, 22 Nov 2024 | €2.2t | €2.7t | €113.0b | 15.5x | 19.6x | 0.8x |
| Sun, 20 Oct 2024 | €2.3t | €2.7t | €119.0b | 16.3x | 19.5x | 0.9x |
| Tue, 17 Sep 2024 | €2.2t | €2.7t | €119.6b | 16.2x | 18.3x | 0.8x |
| Thu, 15 Aug 2024 | €2.1t | €2.7t | €117.4b | 17.3x | 18.1x | 0.8x |
| Sat, 13 Jul 2024 | €2.2t | €2.7t | €111.3b | 17.9x | 20.1x | 0.8x |
| Mon, 10 Jun 2024 | €2.2t | €2.7t | €110.9b | 18.4x | 20.2x | 0.8x |
| Wed, 08 May 2024 | €2.3t | €2.7t | €113.9b | 17.4x | 19.8x | 0.8x |
| Fri, 05 Apr 2024 | €2.3t | €2.8t | €119.4b | 17.2x | 19.3x | 0.8x |
| Sun, 03 Mar 2024 | €2.2t | €2.9t | €125.7b | 15.9x | 17.7x | 0.8x |
| Tue, 30 Jan 2024 | €2.2t | €2.9t | €148.3b | 16.3x | 14.6x | 0.8x |
| Thu, 28 Dec 2023 | €2.2t | €2.9t | €147.3b | 16.6x | 14.6x | 0.8x |
| Sat, 25 Nov 2023 | €2.1t | €2.9t | €148.1b | 16.2x | 14.2x | 0.7x |
| Mon, 23 Oct 2023 | €2.0t | €3.0t | €132.1b | 15.6x | 15x | 0.7x |
| Wed, 20 Sep 2023 | €2.1t | €3.0t | €131.2b | 16.1x | 16.1x | 0.7x |
| Fri, 18 Aug 2023 | €2.1t | €3.0t | €132.1b | 16.4x | 16.2x | 0.7x |
Price to Earnings Ratio
16.2x
Current Market PE
- Investors are relatively neutral on the German market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
- The market is trading close to its 3-year average PE ratio of 20.6x.
Past Earnings Growth
- The earnings for German listed companies have remained mostly flat over the last three years.
- Meanwhile revenues have declined 4.0% per year.
- This means that the cost of doing business could be reducing since sales have declined yet profits have remained steady.
Sector Trends
Which sectors have driven the changes within the German Market?
| DE Market | 0.69% | |
| Tech | 6.04% | |
| Energy | 4.38% | |
| Healthcare | 1.68% | |
| Consumer Staples | 1.60% | |
| Financials | 1.11% | |
| Materials | 0.53% | |
| Telecom | 0.20% | |
| Utilities | -0.27% | |
| Real Estate | -1.01% | |
| Consumer Discretionary | -1.06% | |
| Industrials | -1.09% | |
Sector PE
- Investors favour the Materials sector the most for future growth even though it's trading below its 3-year average PE ratio of 62.3x.
- Analysts expect its future annual earnings growth (16.8%) to be largely in line with prior year's earnings growth.
- The market's confidence could indicate that the market believes that analysts are underestimating future growth.
- The Real Estate sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average.
Forecasted Growth
- Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 39% over the next 5 years.
- However this is lower than its past earnings growth rate of 135% per year.
- In contrast, the Real Estate industry is expected to see its earnings growth to stay flat over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| SAP SAP | €179.30 | 8.9% +€16.9b | -28.1% | PE26.5x | Tech | |
| ENR Siemens Energy | €154.60 | 4.8% +€6.0b | 55.3% | PE49.1x | Industrials | |
| BAYN Bayer | €49.23 | 4.5% +€2.1b | 91.5% | PS1.1x | Healthcare | |
| DBK Deutsche Bank | €33.23 | 3.2% +€1.9b | 6.7% | PE10.2x | Financials | |
| ALV Allianz | €437.70 | 1.1% +€1.7b | 20.3% | PE14.2x | Financials |
