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German (DAX) Financials Sector Analysis

UpdatedMay 09, 2026
DataAggregated Company Financials
Companies147
  • 7D-3.0%
  • 3M-3.3%
  • 1Y-0.8%
  • YTD-5.3%

Over the last 7 days, the Financials industry has dropped 3.0%, driven by a pullback from Allianz of 5.0%. Over the last year, the industry has been flat overall. Earnings are forecast to grow by 6.3% annually.

Sector Valuation and Performance

Has the German Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 11 May 2026€430.9b€327.1b€34.0b12.9x12.7x1.3x
Wed, 08 Apr 2026€434.1b€325.7b€33.7b11.7x12.9x1.3x
Fri, 06 Mar 2026€427.5b€319.8b€34.0b11.9x12.6x1.3x
Sun, 01 Feb 2026€442.1b€315.9b€33.7b12.4x13.1x1.4x
Tue, 30 Dec 2025€460.3b€315.2b€32.7b13.5x14.1x1.5x
Thu, 27 Nov 2025€439.7b€315.2b€32.7b12.7x13.4x1.4x
Sat, 25 Oct 2025€426.9b€323.2b€31.4b13.8x13.6x1.3x
Mon, 22 Sep 2025€425.9b€323.1b€31.4b13.2x13.6x1.3x
Wed, 20 Aug 2025€456.6b€323.7b€31.3b15.1x14.6x1.4x
Fri, 18 Jul 2025€429.2b€314.8b€27.9b15x15.4x1.4x
Sun, 15 Jun 2025€423.5b€315.0b€27.8b18.5x15.2x1.3x
Tue, 13 May 2025€431.6b€310.2b€28.9b17.5x14.9x1.4x
Thu, 10 Apr 2025€381.8b€310.4b€27.9b13.1x13.7x1.2x
Sat, 08 Mar 2025€408.4b€313.3b€28.4b14.3x14.4x1.3x
Mon, 03 Feb 2025€372.4b€306.7b€27.5b14.6x13.6x1.2x
Wed, 01 Jan 2025€345.3b€307.3b€28.5b13.7x12.1x1.1x
Fri, 29 Nov 2024€339.4b€310.4b€28.5b13.8x11.9x1.1x
Sun, 27 Oct 2024€341.0b€313.7b€28.1b15.1x12.1x1.1x
Tue, 24 Sep 2024€340.9b€313.5b€27.5b15.8x12.4x1.1x
Thu, 22 Aug 2024€322.7b€313.3b€27.7b15.5x11.6x1x
Sat, 20 Jul 2024€320.3b€303.6b€28.1b15.7x11.4x1.1x
Mon, 17 Jun 2024€311.1b€303.5b€28.0b14.9x11.1x1x
Wed, 15 May 2024€319.7b€301.7b€27.2b15.3x11.7x1.1x
Fri, 12 Apr 2024€310.8b€309.8b€26.2b15.1x11.9x1x
Sun, 10 Mar 2024€307.2b€320.7b€24.5b13.8x12.5x1x
Tue, 06 Feb 2024€291.9b€325.4b€24.2b12.8x12x0.9x
Thu, 04 Jan 2024€290.2b€329.5b€24.8b15x11.7x0.9x
Sat, 02 Dec 2023€286.9b€329.6b€24.9b14.1x11.5x0.9x
Mon, 30 Oct 2023€266.0b€340.8b€24.3b13.6x10.9x0.8x
Wed, 27 Sep 2023€271.9b€351.8b€24.3b13.6x11.2x0.8x
Fri, 25 Aug 2023€265.9b€349.4b€23.4b13.8x11.4x0.8x
Sun, 23 Jul 2023€241.9b€305.5b€19.2b15.4x12.6x0.8x
Tue, 20 Jun 2023€255.3b€331.8b€24.5b16x10.4x0.8x
Thu, 18 May 2023€253.2b€326.8b€22.5b13.1x11.3x0.8x
Price to Earnings Ratio

11.3x


Total Market Cap: €253.2bTotal Earnings: €22.5bTotal Revenue: €326.8bTotal Market Cap vs Earnings and Revenue0%0%0%
German Financials Sector Price to Earnings3Y Average 12.6x202420252026
Current Industry PE
  • Investors are relatively neutral on the German Financials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 12.6x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 15% 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 Financials sector?

DE Market-0.016%
Financials-2.99%
Banks0.66%
Consumer Finance0.36%
Mortgage Finance0%0
Diversified Financial-0.22%
Capital Markets-1.61%
Insurance-4.20%
Industry PE
  • Investors are most optimistic about the Banks industry which is trading above its 3-year average PE ratio of 10.3x.
    • Analysts are expecting annual earnings growth of 13.1%, which is higher than its past year's earnings decline of 6.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Financial industry, expecting annual earnings growth of 43% over the next 5 years.
  • However this is lower than its past earnings growth rate of 75% per year.
  • In contrast, the Insurance industry is expected to see its earnings grow by 4.6% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
DBK Deutsche Bank€27.142.4%
+€1.2b		12.3%PE8.5x
CBK Commerzbank€35.410.6%
+€216.2m		39.6%PB1.1x
DWS DWS Group GmbH KGaA€59.701.2%
+€140.0m		18.2%PE12x
MUX Mutares SE KGaA€26.105.5%
+€34.6m		-19.6%PS0.1x
BFV Berliner Effektengesellschaft€74.002.1%
+€19.6m		10.4%PE35.3x

Latest News

TLX
€105.80
Talanx
7D
-4.6%
1Y
1.4%
Narrative Update • May 09

TLX: Elevated Future P/E Assumptions Will Likely Prove Overly Optimistic

Analysts have lifted their price target on Talanx from €85 to €90, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E that are broadly in line with recently more positive research views from houses initiating or upgrading coverage. Analyst Commentary Recent research on Talanx includes fresh coverage from JPMorgan, which has taken a constructive stance while still flagging areas that readers should watch closely.
CHG
€30.95
CHAPTERS Group
7D
2.5%
1Y
-12.8%
ALV
€369.40
Allianz
7D
-5.0%
1Y
1.9%
MUX
€26.10
Mutares SE KGaA
7D
5.5%
1Y
-19.6%
DBK
€27.14
Deutsche Bank
7D
2.4%
1Y
12.3%
CBK
€35.41
Commerzbank
7D
0.6%
1Y
39.6%
DB1
€242.20
Deutsche Börse
7D
-7.4%
1Y
-16.2%
DWS
€59.70
DWS Group GmbH KGaA
7D
1.2%
1Y
18.2%
HNR1
€244.80
Hannover Rück
7D
-5.0%
1Y
-13.0%
Narrative Update • May 05

HNR1: 2026 Earnings Guidance And Dividend Policy Will Support Upside Potential

Analysts have nudged their price targets for Hannover Rück higher, with recent research pointing to increases of €5 and from €312 to €330, citing updated views on growth, profitability and valuation assumptions. Analyst Commentary Bullish analysts are signaling a more constructive view on Hannover Rück, with recent research reflecting higher price targets and supportive commentary around the company’s setup.
GLJ
€12.22
Grenke
7D
-3.9%
1Y
-14.1%
Narrative Update • May 01

GLJ: Updated P/E Assumptions Will Support Future Re Rating Potential

Analysts have trimmed their collective price target on Grenke to €28 from €29, citing updated assumptions on revenue growth, profit margins and future P/E. These factors still support their overall positive view on the shares.
BFV
€74.00
Berliner Effektengesellschaft
7D
2.1%
1Y
10.4%
ERAG
€8.88
Ernst Russ
7D
5.5%
1Y
55.8%
MUV2
€501.80
Münchener Rückversicherungs-Gesellschaft in München
7D
-1.8%
1Y
-15.7%
Narrative Update • Apr 26

MUV2: Future Returns Will Reflect 2026 Payouts And Mixed Rating Moves

Analysts have trimmed their average price target for Münchener Rückversicherungs-Gesellschaft in München to about €582.38 from €582.97, citing refreshed assumptions on revenue growth, profit margins and future P/E, alongside mixed recent target revisions on the Street. Analyst Commentary Recent research highlights a split between analysts who see room for further upside in Münchener Rückversicherungs-Gesellschaft in München and those who are more cautious around valuation and execution risk.
HYQ
€77.75
Hypoport
7D
-5.1%
1Y
-62.5%
Narrative Update • Apr 25

HYQ: Digital Transformation Will Support Long-Term Momentum Despite Lowered Growth Assumptions

Analysts have reduced the Hypoport price target to €212.75 from €248.50, citing revised assumptions for revenue growth, profit margins and the discount rate. This move is in line with recent Street research that lowered published targets by €10 to €190.
XE8
€0.0005
Black Sea Property
7D
-97.4%
1Y
-83.3%
PTHH
€0.73
Path2 Hydrogen
7D
17.7%
1Y
-77.0%