Narrative Update • Aug 06
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German (DAX) Financials Sector Analysis
UpdatedAug 09, 2026
DataAggregated Company Financials
Companies150
- 7D1.3%
- 3M11.9%
- 1Y7.1%
- YTD6.4%
Over the last 7 days, the Financials industry has risen 1.3%, driven by gains in Deutsche Börse and Deutsche Bank of 4.5% and 3.2%, respectively. This takes the industry's 12 month performance to a gain of 7.1%. Looking forward, earnings are forecast to grow by 5.0% annually.
Sector Valuation and Performance
Has the German Financials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 09 Aug 2026 | €481.4b | €333.6b | €36.9b | 14x | 13x | 1.4x |
| Tue, 07 Jul 2026 | €467.6b | €326.3b | €36.2b | 14.2x | 12.9x | 1.4x |
| Thu, 04 Jun 2026 | €419.0b | €326.9b | €36.4b | 12.5x | 11.5x | 1.3x |
| Sat, 02 May 2026 | €444.4b | €328.0b | €33.9b | 13.5x | 13.1x | 1.4x |
| Mon, 30 Mar 2026 | €416.3b | €325.6b | €33.7b | 11.7x | 12.3x | 1.3x |
| Wed, 25 Feb 2026 | €443.7b | €318.9b | €33.7b | 12.2x | 13.2x | 1.4x |
| Fri, 23 Jan 2026 | €441.0b | €315.3b | €32.7b | 12.9x | 13.5x | 1.4x |
| Sun, 21 Dec 2025 | €458.7b | €315.2b | €32.7b | 13.1x | 14x | 1.5x |
| Tue, 18 Nov 2025 | €429.8b | €314.7b | €32.7b | 12.9x | 13.1x | 1.4x |
| Thu, 16 Oct 2025 | €437.0b | €323.1b | €31.3b | 14.1x | 13.9x | 1.4x |
| Sat, 13 Sep 2025 | €433.7b | €323.1b | €31.4b | 13.4x | 13.8x | 1.3x |
| Mon, 11 Aug 2025 | €452.2b | €333.8b | €30.7b | 14.6x | 14.7x | 1.4x |
| Wed, 09 Jul 2025 | €431.9b | €314.9b | €27.9b | 14.5x | 15.5x | 1.4x |
| Fri, 06 Jun 2025 | €436.4b | €313.3b | €27.8b | 18.3x | 15.7x | 1.4x |
| Sun, 04 May 2025 | €434.0b | €309.9b | €28.8b | 17.6x | 15.1x | 1.4x |
| Tue, 01 Apr 2025 | €415.5b | €309.9b | €29.3b | 14.5x | 14.2x | 1.3x |
| Thu, 27 Feb 2025 | €394.1b | €307.4b | €28.1b | 14.2x | 14x | 1.3x |
| Sat, 25 Jan 2025 | €368.1b | €307.3b | €28.5b | 14.3x | 12.9x | 1.2x |
| Mon, 23 Dec 2024 | €344.4b | €310.5b | €28.6b | 13.6x | 12.1x | 1.1x |
| Wed, 20 Nov 2024 | €335.4b | €310.4b | €28.5b | 14.4x | 11.8x | 1.1x |
| Fri, 18 Oct 2024 | €353.8b | €313.3b | €27.6b | 15.1x | 12.8x | 1.1x |
| Sun, 15 Sep 2024 | €338.1b | €313.1b | €27.6b | 15.1x | 12.3x | 1.1x |
| Tue, 13 Aug 2024 | €304.3b | €310.3b | €27.8b | 15.3x | 10.9x | 1x |
| Thu, 11 Jul 2024 | €320.7b | €303.5b | €28.1b | 16.2x | 11.4x | 1.1x |
| Sat, 08 Jun 2024 | €323.0b | €303.6b | €28.2b | 14.9x | 11.5x | 1.1x |
| Mon, 06 May 2024 | €311.5b | €300.8b | €26.5b | 15.3x | 11.8x | 1x |
| Wed, 03 Apr 2024 | €323.9b | €309.4b | €26.2b | 14.4x | 12.4x | 1x |
| Fri, 01 Mar 2024 | €302.6b | €320.7b | €24.5b | 13.4x | 12.3x | 0.9x |
| Sun, 28 Jan 2024 | €295.3b | €329.5b | €24.8b | 14.7x | 11.9x | 0.9x |
| Tue, 26 Dec 2023 | €290.8b | €329.6b | €24.8b | 14.8x | 11.7x | 0.9x |
| Thu, 23 Nov 2023 | €281.5b | €330.0b | €25.0b | 14.4x | 11.3x | 0.9x |
| Sat, 21 Oct 2023 | €263.6b | €340.4b | €24.3b | 13.5x | 10.8x | 0.8x |
| Mon, 18 Sep 2023 | €276.7b | €351.1b | €24.4b | 13.9x | 11.4x | 0.8x |
| Wed, 16 Aug 2023 | €265.2b | €347.3b | €23.4b | 14.4x | 11.3x | 0.8x |
Price to Earnings Ratio
11.3x
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 12.8x.
- The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
- The earnings for companies in the Financials industry have grown 16% 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 | 2.21% | |
| Financials | 1.27% | |
| Banks | 3.51% | |
| Capital Markets | 3.11% | |
| Diversified Financial | 2.64% | |
| Insurance | 0.064% | |
| Mortgage Finance | 0% | 0 |
| Consumer Finance | -0.91% | |
Industry PE
- Investors are most optimistic about the Diversified Financial industry which is trading above its 3-year average PE ratio of 15.1x.
- Analysts are expecting annual earnings growth of 54.1%, which is higher than its past year's earnings growth of 9.2% per year.
- Investors are most pessimistic about the Consumer Finance industry, which is trading close to its 3-year average of 9.7x.
Forecasted Growth
- Analysts are most optimistic on the Diversified Financial industry, expecting annual earnings growth of 54% over the next 5 years.
- This is better than its past earnings growth rate of 9.2% per year.
- In contrast, the Insurance industry is expected to see its earnings grow by 2.2% 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 | |
|---|---|---|---|---|---|
| DB1 Deutsche Börse | €274.10 | 4.5% +€2.1b | 6.1% | PE23.4x | |
| DBK Deutsche Bank | €32.89 | 3.2% +€1.9b | 5.9% | PE10.1x | |
| CBK Commerzbank | €39.00 | 3.5% +€1.4b | 13.1% | PB1.2x | |
| DWS DWS Group GmbH KGaA | €74.75 | 2.7% +€390.0m | 35.4% | PE14.7x | |
| HNR1 Hannover Rück | €253.60 | 1.2% +€361.8m | -4.7% | PE10.7x |
