Narrative Update • May 15
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German (DAX) Luxury Industry Analysis
UpdatedMay 23, 2026
DataAggregated Company Financials
Companies11
- 7D5.7%
- 3M0.1%
- 1Y-21.9%
- YTD-3.6%
The Luxury industry is up 5.7% in the last week, with adidas up 6.0%. However, the industry is down 22% over the past year. Earnings are forecast to grow by 22% annually.
Industry Valuation and Performance
Has the German Luxury Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 23 May 2026 | €34.3b | €37.2b | €989.3m | 16.8x | 34.6x | 0.9x |
| Mon, 20 Apr 2026 | €32.6b | €37.0b | €927.2m | 15.6x | 35.1x | 0.9x |
| Wed, 18 Mar 2026 | €31.0b | €37.0b | €925.5m | 17.9x | 33.4x | 0.8x |
| Fri, 13 Feb 2026 | €33.7b | €37.8b | €1.2b | 17.6x | 28.8x | 0.9x |
| Sun, 11 Jan 2026 | €36.1b | €37.8b | €1.2b | 17.4x | 30.9x | 1x |
| Tue, 09 Dec 2025 | €34.3b | €37.8b | €1.2b | 17.7x | 29.4x | 0.9x |
| Thu, 06 Nov 2025 | €33.9b | €37.8b | €1.2b | 17.9x | 29x | 0.9x |
| Sat, 04 Oct 2025 | €39.9b | €38.0b | €1.3b | 18.1x | 29.9x | 1x |
| Mon, 01 Sep 2025 | €36.1b | €38.0b | €1.3b | 18.5x | 27.1x | 1x |
| Wed, 30 Jul 2025 | €41.5b | €38.1b | €1.4b | 14.4x | 28.7x | 1.1x |
| Fri, 27 Jun 2025 | €40.6b | €38.1b | €1.4b | 14.6x | 28.1x | 1.1x |
| Sun, 25 May 2025 | €44.6b | €38.1b | €1.4b | 15.3x | 30.8x | 1.2x |
| Tue, 22 Apr 2025 | €41.2b | €37.4b | €1.3b | 14.7x | 32.5x | 1.1x |
| Thu, 20 Mar 2025 | €46.9b | €37.4b | €1.3b | 13.5x | 37x | 1.3x |
| Sat, 15 Feb 2025 | €54.2b | €35.9b | €871.2m | 17x | 62.2x | 1.5x |
| Mon, 13 Jan 2025 | €53.2b | €35.9b | €871.2m | 24.4x | 61.1x | 1.5x |
| Wed, 11 Dec 2024 | €53.0b | €35.9b | €874.6m | 26.7x | 60.6x | 1.5x |
| Fri, 08 Nov 2024 | €50.0b | €36.1b | €864.5m | 26.5x | 57.8x | 1.4x |
| Sun, 06 Oct 2024 | €51.2b | €35.6b | €691.4m | 21.1x | 74.1x | 1.4x |
| Tue, 03 Sep 2024 | €49.8b | €35.6b | €691.2m | 22.1x | 72x | 1.4x |
| Thu, 01 Aug 2024 | €51.1b | €35.0b | €641.0m | 25x | 79.7x | 1.5x |
| Sat, 29 Jun 2024 | €49.5b | €35.0b | €641.1m | 23.4x | 77.2x | 1.4x |
| Mon, 27 May 2024 | €50.8b | €35.0b | €641.1m | 26x | 79.3x | 1.5x |
| Wed, 24 Apr 2024 | €51.0b | €34.8b | €475.3m | 18.9x | 107.4x | 1.5x |
| Fri, 22 Mar 2024 | €45.6b | €34.8b | €475.5m | 17.4x | 95.9x | 1.3x |
| Sun, 18 Feb 2024 | €42.6b | €35.7b | €361.3m | 19.3x | 117.9x | 1.2x |
| Tue, 16 Jan 2024 | €43.4b | €35.7b | €361.3m | 20.8x | 120x | 1.2x |
| Thu, 14 Dec 2023 | €47.7b | €35.7b | €438.2m | 19.2x | 108.9x | 1.3x |
| Sat, 11 Nov 2023 | €43.1b | €35.8b | €427.7m | 17.3x | 100.8x | 1.2x |
| Mon, 09 Oct 2023 | €41.1b | €36.2b | €247.5m | 17.6x | 166.1x | 1.1x |
| Wed, 06 Sep 2023 | €47.1b | €36.2b | €249.6m | 20.3x | 188.6x | 1.3x |
| Fri, 04 Aug 2023 | €46.7b | €36.3b | €491.6m | 18.7x | 94.9x | 1.3x |
| Sun, 02 Jul 2023 | €42.4b | €36.1b | €520.8m | 19x | 81.4x | 1.2x |
| Tue, 30 May 2023 | €36.9b | €36.2b | €520.8m | 17.8x | 70.9x | 1x |
Price to Earnings Ratio
70.9x
Current Industry PE
- Investors are pessimistic on the German Luxury industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 34.6x which is lower than its 3-year average PE of 69.9x.
- The 3-year average PS ratio of 1.2x is higher than the industry's current PS ratio of 0.92x.
Past Earnings Growth
- The earnings for companies in the Luxury industry have grown 24% per year over the last three years, while revenues have remained mostly flat.
- This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.
Industry Trends
Which industries have driven the changes within the German Consumer Discretionary industry?
| DE Market | 3.17% | |
| Consumer Discretionary | 1.53% | |
| Luxury | 5.74% | |
| Footwear | 8.56% | |
| Apparel, Accessories and Luxury Goods | 5.37% | |
| Textiles | -1.09% | |
Industry PE
- Investors are most optimistic about the Textiles industry which is trading above its 3-year average PE ratio.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
- Analysts are most optimistic on the Footwear industry, expecting annual earnings growth of 76% over the next 5 years.
- In contrast, the Apparel, Accessories and Luxury Goods industry is expected to see its earnings grow by 14% per year 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 | |
|---|---|---|---|---|---|
| ADS adidas | €154.50 | 6.0% +€1.5b | -27.8% | PE19.7x | |
| PUM PUMA | €28.78 | 8.6% +€334.2m | 30.6% | PS0.6x | |
| BIJ Bijou Brigitte modische Accessoires | €53.00 | 1.1% +€4.5m | 23.3% | PE16.8x | |
| NBH Hoftex Group | €4.14 | 1.0% +€217.8k | -29.8% | PS0.2x | |
| AAH Ahlers | €0.01 | 5.3% +€6.8k | -31.0% | n/a |