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German (DAX) Financials Sector Analysis

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies152
  • 7D1.8%
  • 3M7.2%
  • 1Y7.4%
  • YTD-0.5%

Over the last 7 days, the Financials industry has risen 1.8%, driven by gains from Münchener Rückversicherungs-Gesellschaft in München of 3.2%. In the last 12 months, the industry was up 7.4%. As for the next few years, earnings are expected to grow by 5.0% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Jun 2026€451.6b€326.9b€36.4b13x12.4x1.4x
Sat, 23 May 2026€438.1b€326.9b€36.4b12.7x12x1.3x
Mon, 20 Apr 2026€462.5b€325.7b€33.7b12.8x13.7x1.4x
Wed, 18 Mar 2026€435.5b€321.7b€33.9b12x12.8x1.4x
Fri, 13 Feb 2026€438.1b€314.7b€33.8b12.2x12.9x1.4x
Sun, 11 Jan 2026€449.9b€315.3b€32.7b13.1x13.8x1.4x
Tue, 09 Dec 2025€437.9b€315.2b€32.7b13x13.4x1.4x
Thu, 06 Nov 2025€431.9b€323.1b€31.0b13.6x13.9x1.3x
Sat, 04 Oct 2025€434.9b€323.1b€31.4b14.2x13.9x1.3x
Mon, 01 Sep 2025€439.7b€323.9b€31.3b13.9x14.1x1.4x
Wed, 30 Jul 2025€436.3b€317.3b€30.1b14.8x14.5x1.4x
Fri, 27 Jun 2025€422.8b€314.9b€27.8b18.7x15.2x1.3x
Sun, 25 May 2025€430.1b€313.0b€27.8b17.5x15.5x1.4x
Tue, 22 Apr 2025€414.9b€308.9b€28.2b16.8x14.7x1.3x
Thu, 20 Mar 2025€422.7b€317.7b€29.5b14.1x14.3x1.3x
Sat, 15 Feb 2025€378.2b€307.4b€28.1b14.2x13.5x1.2x
Mon, 13 Jan 2025€349.4b€279.9b€26.3b14.1x13.3x1.2x
Wed, 11 Dec 2024€350.2b€310.5b€28.6b14x12.3x1.1x
Fri, 08 Nov 2024€336.1b€312.7b€28.0b14.7x12x1.1x
Sun, 06 Oct 2024€342.7b€313.4b€27.7b15.2x12.4x1.1x
Tue, 03 Sep 2024€335.8b€313.2b€27.6b17.6x12.2x1.1x
Thu, 01 Aug 2024€316.4b€304.3b€27.2b15.3x11.6x1x
Sat, 29 Jun 2024€319.8b€303.6b€28.1b17x11.4x1.1x
Mon, 27 May 2024€325.0b€303.6b€28.1b15.4x11.6x1.1x
Wed, 24 Apr 2024€320.3b€300.5b€26.3b15.5x12.2x1.1x
Fri, 22 Mar 2024€320.0b€316.8b€26.2b13.6x12.2x1x
Sun, 18 Feb 2024€294.1b€325.5b€24.4b13.3x12.1x0.9x
Tue, 16 Jan 2024€292.6b€329.5b€24.8b14.9x11.8x0.9x
Thu, 14 Dec 2023€293.9b€329.6b€24.9b14.2x11.8x0.9x
Sat, 11 Nov 2023€256.5b€330.5b€23.0b13.7x11.2x0.8x
Mon, 09 Oct 2023€271.7b€340.3b€24.3b13.1x11.2x0.8x
Wed, 06 Sep 2023€265.6b€349.4b€23.4b14.4x11.4x0.8x
Fri, 04 Aug 2023€260.4b€331.5b€23.3b15.1x11.2x0.8x
Sun, 02 Jul 2023€259.4b€331.5b€24.4b15.4x10.6x0.8x
Price to Earnings Ratio

10.6x


Total Market Cap: €259.4bTotal Earnings: €24.4bTotal Revenue: €331.5bTotal Market Cap vs Earnings and Revenue0%0%0%
German Financials Sector Price to Earnings3Y Average 12.7x202420252026
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 12.7x.
  • The 3-year average PS ratio of 1.1x 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 14% 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-0.95%
Financials1.80%
Banks4.25%
Insurance1.62%
Capital Markets1.56%
Mortgage Finance0%0
Diversified Financial-0.46%
Consumer Finance-0.87%
Industry PE
  • Investors are most optimistic about the Diversified Financial industry which is trading above its 3-year average PE ratio of 12.2x.
    • Analysts expect its future annual earnings growth (51.4%) to be largely in line with prior year's earnings growth.
  • Investors are most pessimistic about the Consumer Finance industry, which is trading below its 3-year average of 9.8x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Financial industry, expecting annual earnings growth of 51% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Insurance 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?

CompanyLast Price7D1YValuation
MUV2 Münchener Rückversicherungs-Gesellschaft in München€479.603.2%
+€1.9b		-13.0%PE9x
ALV Allianz€404.101.0%
+€1.5b		18.9%PE12.8x
HNR1 Hannover Rück€238.003.0%
+€844.2m		-10.6%PE10x
TLX Talanx€107.002.2%
+€593.5m		-1.6%PE10.4x
DWS DWS Group GmbH KGaA€62.752.0%
+€250.0m		28.4%PE12.7x

Latest News

DBK
€30.15
Deutsche Bank
7D
-2.6%
1Y
19.7%
NBG6
€121.00
NÜRNBERGER Beteiligungs-AG
7D
0.8%
1Y
141.0%
EUX
€52.40
EUWAX
7D
6.9%
1Y
24.2%
MUV2
€479.60
Münchener Rückversicherungs-Gesellschaft in München
7D
3.2%
1Y
-13.0%
Narrative Update • Jun 23

MUV2: Future Returns Will Rely On Rebased Earnings Power And Margin Discipline

Analysts have trimmed their average price targets for Münchener Rückversicherungs-Gesellschaft in München by around €100 per share, with recent research pointing to adjustments in fair value estimates and profit margin assumptions as key drivers of the change. Analyst Commentary Recent research on Münchener Rückversicherungs-Gesellschaft in München shows a cluster of price target cuts alongside a wide spread of ratings.
CBK
€37.38
Commerzbank
7D
-2.1%
1Y
38.1%
HNR1
€238.00
Hannover Rück
7D
3.0%
1Y
-10.6%
Narrative Update • Jun 22

HNR1: 2026 Earnings Guidance And Capital Discipline Will Support Future Upside

Hannover Rück's analyst price target has been revised lower to €260 from €290 as several firms trim their estimates, with analysts pointing to updated assumptions for fair value, discount rates and profitability. Analyst Commentary Recent research on Hannover Rück shows that several major banks, including JPMorgan, have reduced their price targets while generally maintaining neutral stances on the stock.
ALV
€404.10
Allianz
7D
1.0%
1Y
18.9%
Narrative Update • Jun 22

ALV: Future Returns Will Depend On Buybacks Discipline And Acquisition Execution

Allianz's analyst price target has been updated from about €403.90 to about €413.90, reflecting modest adjustments to revenue growth, profit margin and future P/E assumptions, and aligning with recent target increases such as Citi's move to €411.70, while broader analyst commentary remains mixed. Analyst Commentary Recent Allianz research shows a mix of optimism and caution, with the latest price target around €411.70 and a Neutral stance from at least one major bank.
FTK
€36.40
flatexDEGIRO
7D
-3.4%
1Y
55.3%
Narrative Update • Jun 22

FTK: Future Returns Will Hinge On Delivering 2027 Earnings And Dividend Targets

The analyst fair value target for flatexDEGIRO has been adjusted slightly to €42.17 from €42.27, with analysts pointing to recent target updates around €41 to €48 and their expectations for earnings and profitability to support the new level. Analyst Commentary Recent research coverage on flatexDEGIRO has focused on how the current share price compares with analysts' price targets, as well as the company's earnings potential and execution in its core markets.
GLJ
€11.88
Grenke
7D
-4.7%
1Y
-19.8%
Narrative Update • Jun 22

GLJ: Earnings Guidance And Profitability Focus Will Support Future Re-Rating Potential

Analysts have slightly reduced their price target on Grenke from €20.24 to €20.04, reflecting updated assumptions for revenue growth, profit margins, and future P/E multiples. What’s in the News for Grenke Grenke reaffirmed earnings guidance for the 2026 financial year, expecting Group earnings in a range of €74 million to €86 million, with leasing new business volume projected between €3.4b and €3.6b.
DB1
€244.30
Deutsche Börse
7D
-0.7%
1Y
-10.3%
T2G
€85.00
Tradegate Wertpapierhandelsbank
7D
-1.2%
1Y
-2.9%
TLX
€107.00
Talanx
7D
2.2%
1Y
-1.6%
Narrative Update • Jun 15

TLX: Recent Bullish Coverage And Buybacks Will Support Future Upside Potential

Analysts have maintained their Talanx fair value at €143.00, reflecting a slightly higher discount rate and modest adjustments to revenue growth, profit margin and future P/E assumptions, supported by recent bullish updates and a new initiation from major firms on the stock. Analyst Commentary Bullish analysts have pointed to the recent research flow as a sign of growing confidence in Talanx, with the current €143.00 fair value seen as consistent with more constructive views on the stock's long term execution and earnings profile.
HYQ
€81.45
Hypoport
7D
2.3%
1Y
-58.6%
Narrative Update • Jun 11

HYQ: Digital Shift And Rebased Expectations Will Support Future Earnings Power

Analysts have trimmed their price target on Hypoport by €10 to €190 in response to updated assumptions about discount rates, revenue growth, profit margins, and future P/E, which now imply a fair value of €212.75. Analyst Commentary Bullish Takeaways Bullish analysts highlight that a fair value estimate of €212.75 still sits above the revised €190 price target, which they view as leaving upside potential if the company delivers on its assumptions.
MLP
€7.82
MLP
7D
-3.9%
1Y
-8.3%
Narrative Update • Jun 11

MLP: 2026 EBIT Guidance And New Capital Plans Will Support Upside

Analysts now set their price target for MLP at €10.20, up from €9.95, citing updated assumptions regarding fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News MLP SE reaffirmed earnings guidance for the 2026 financial year, confirming an EBIT forecast in a range of €100 million to €110 million.
DWS
€62.75
DWS Group GmbH KGaA
7D
2.0%
1Y
28.4%
Narrative Update • Jun 06

DWS: Future Returns Will Rely On Dividends And Medium Term EPS Targets

Analysts have made a small upward adjustment to their price target for DWS Group GmbH KGaA, with fair value now set at €62.54. The change reflects slightly lower discount rate assumptions, a modestly weaker revenue outlook, a marginally higher profit margin, and a virtually unchanged future P/E of about 12.90x.
PBB
€3.25
Deutsche Pfandbriefbank
7D
-9.7%
1Y
-37.6%