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German (DAX) Capital Markets Industry Analysis

UpdatedApr 22, 2026
DataAggregated Company Financials
Companies111
  • 7D1.3%
  • 3M2.6%
  • 1Y14.9%
  • YTD-0.6%

In the last week, the Capital Markets industry is up 3.2%, with Deutsche Börse up 4.5%. In the last 12 months, the industry was up 17%. Earnings are forecast to grow by 6.9% annually.

Industry Valuation and Performance

Has the German Capital Markets Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Apr 2026€127.9b€54.1b€9.5b15.3x13.4x2.4x
Fri, 20 Mar 2026€118.4b€54.1b€9.6b14x12.4x2.2x
Sun, 15 Feb 2026€121.9b€53.1b€9.9b12.4x12.4x2.3x
Tue, 13 Jan 2026€129.8b€53.7b€8.7b14.6x14.8x2.4x
Thu, 11 Dec 2025€125.6b€53.5b€8.7b14.5x14.4x2.3x
Sat, 08 Nov 2025€121.0b€53.2b€8.7b14.9x13.9x2.3x
Mon, 06 Oct 2025€123.0b€53.2b€8.9b17.1x13.8x2.3x
Wed, 03 Sep 2025€124.6b€53.1b€8.9b16.7x14x2.3x
Fri, 01 Aug 2025€125.2b€52.2b€8.7b21.1x14.4x2.4x
Sun, 29 Jun 2025€123.1b€49.7b€6.4b25.8x19.3x2.5x
Tue, 27 May 2025€122.6b€49.9b€6.3b22.3x19.3x2.5x
Thu, 24 Apr 2025€114.4b€48.5b€5.7b27.2x20.1x2.4x
Sat, 22 Mar 2025€114.6b€49.8b€6.7b21.1x17.2x2.3x
Mon, 17 Feb 2025€103.2b€48.4b€5.7b18.9x18x2.1x
Wed, 15 Jan 2025€94.8b€48.8b€6.7b18.7x14.2x1.9x
Fri, 13 Dec 2024€92.6b€51.8b€6.7b20.3x13.8x1.8x
Sun, 10 Nov 2024€87.4b€51.5b€6.7b20.5x13.1x1.7x
Tue, 08 Oct 2024€87.6b€51.1b€6.2b22.7x14.2x1.7x
Thu, 05 Sep 2024€83.3b€51.3b€6.2b26x13.4x1.6x
Sat, 03 Aug 2024€77.5b€50.9b€6.5b20.7x12x1.5x
Mon, 01 Jul 2024€82.8b€50.1b€7.4b21.4x11.3x1.7x
Wed, 29 May 2024€84.3b€50.1b€7.3b21.4x11.5x1.7x
Fri, 26 Apr 2024€85.2b€49.7b€7.4b22.3x11.5x1.7x
Sun, 24 Mar 2024€81.3b€49.5b€7.2b21.4x11.3x1.6x
Tue, 20 Feb 2024€76.1b€45.1b€7.1b23.4x10.7x1.7x
Thu, 18 Jan 2024€77.2b€49.1b€7.7b24.6x10.1x1.6x
Sat, 16 Dec 2023€75.3b€49.2b€7.7b22x9.8x1.5x
Mon, 13 Nov 2023€69.0b€49.2b€7.7b22.3x9x1.4x
Wed, 11 Oct 2023€68.9b€48.4b€7.6b20.2x9x1.4x
Fri, 08 Sep 2023€67.1b€48.4b€7.6b22.2x8.8x1.4x
Sun, 06 Aug 2023€69.4b€47.1b€6.6b19x10.6x1.5x
Tue, 04 Jul 2023€68.3b€47.4b€7.7b18.4x8.9x1.4x
Thu, 01 Jun 2023€66.8b€47.6b€7.8b15.1x8.5x1.4x
Sat, 29 Apr 2023€69.1b€47.1b€7.5b11.8x9.2x1.5x
Price to Earnings Ratio

9.2x


Total Market Cap: €69.1bTotal Earnings: €7.5bTotal Revenue: €47.1bTotal Market Cap vs Earnings and Revenue0%0%0%
German Capital Markets Industry Price to Earnings3Y Average 13x202420252026
Current Industry PE
  • Investors are relatively neutral on the German Capital Markets 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 13.0x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 8.2% per year over the last three years.
  • Revenues for these companies have grown 4.8% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the German Financials industry?

DE Market0.99%
Financials1.98%
Capital Markets1.34%
Financial Exchanges and Data4.48%
Asset Management2.32%
Investment Banking and Brokerage1.18%
Diversified Capital Markets-1.66%
Industry PE
  • Investors are most optimistic about the Investment Banking and Brokerage industry even though it's trading below its 3-year average PE ratio of 33.3x.
    • Analysts are expecting annual earnings growth of 18.4%, which is lower than the prior year's growth of 56.9% per year.
  • Investors are most pessimistic about the Diversified Capital Markets industry, which is trading close to its 3-year average of 8.5x.
Forecasted Growth
  • Analysts are most optimistic on the Investment Banking and Brokerage industry, expecting annual earnings growth of 18% over the next 5 years.
  • However this is lower than its past earnings growth rate of 57% per year.
  • In contrast, the Asset Management industry is expected to see its earnings grow by 5.1% 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
DB1 Deutsche Börse€265.304.5%
+€2.1b		-4.4%PE24.2x
DWS DWS Group GmbH KGaA€59.153.1%
+€360.0m		37.2%PE12.8x
XE8 Black Sea Property€0.0193,700.0%
+€45.5m		533.3%PE57.5x
FTK flatexDEGIRO€37.741.1%
+€42.8m		81.8%PE25.2x
MLP MLP€7.814.1%
+€33.7m		4.8%PE15.3x

Latest News

FTK
€37.74
flatexDEGIRO
7D
1.1%
1Y
81.8%

FTK: Future Returns Will Depend On Margin Delivery And New Dividend Framework

Analysts have nudged up the flatexDEGIRO price target by about €0.70 to roughly €41.36, reflecting updated assumptions around a slightly higher profit margin, a modestly different discount rate and a marginally lower future P/E multiple. Analyst Commentary Recent Street research around flatexDEGIRO has focused mainly on revised price targets and updated assumptions around profitability and valuation multiples.
MUX
€24.65
Mutares SE KGaA
7D
-2.2%
1Y
-26.3%
ERAG
€7.96
Ernst Russ
7D
6.1%
1Y
41.6%
XE8
€0.019
Black Sea Property
7D
3,700.0%
1Y
533.3%
MPCK
€5.14
MPC Münchmeyer Petersen Capital
7D
-1.2%
1Y
15.5%

MPCK: New Maritime Platform Will Support Future Earnings Power

Analysts have trimmed their price target on MPC Münchmeyer Petersen Capital to €5.80 from €7.00, citing updated assumptions for revenue growth, profit margins and future P/E. These revisions now reflect a slightly lower fair value and a marginally adjusted discount rate.
ADE
€34.66
Bitcoin Group
7D
14.5%
1Y
-6.5%
DBK
€28.06
Deutsche Bank
7D
-1.7%
1Y
33.6%

DBK: Share Buybacks And Dividend Policy Will Support Future Upside

Analysts keep their Deutsche Bank fair value target steady at €40.00, citing updated assumptions that combine a slightly higher revenue growth outlook with a lower profit margin and a modestly higher future P/E multiple. What's in the News The Board of Directors authorized a share buyback plan on January 29, 2026, signaling intent to return capital to shareholders within a defined framework (Key Developments).
DB1
€265.30
Deutsche Börse
7D
4.5%
1Y
-4.4%
DWS
€59.15
DWS Group GmbH KGaA
7D
3.1%
1Y
37.2%

DWS: Future Returns Will Depend On Dividends And Raised EPS Guidance

Analysts have trimmed their price target for DWS Group GmbH KGaA from €62.90 to about €62.04, pointing to slightly softer revenue expectations, balanced by a marginally higher profit margin forecast, as well as a modestly lower assumed discount rate and future P/E multiple. What's in the News DWS launched the Xtrackers Europe Market Leaders ETF, tracking the STOXX Europe Total Market Leaders Index and holding a portfolio of 40 European stocks selected using screens for market share, competitive advantage and profitability, with trading on CBOE effective December 23, 2025 and a net and gross expense ratio of 0.35% (Key Developments).
MLP
€7.81
MLP
7D
4.1%
1Y
4.8%

MLP: AI Adoption And Cost Discipline Will Drive EBIT Upside

Analysts have kept their price target for MLP steady at €9.95, reflecting updated views on discount rates, revenue growth, profit margins and future P/E. Taken together, these factors support maintaining the previous valuation level.
BWB
€6.82
Baader Bank
7D
-1.2%
1Y
67.2%
SPT6
€23.20
Beta Systems Software
7D
-1.7%
1Y
32.6%
T2G
€86.00
Tradegate Wertpapierhandelsbank
7D
1.2%
1Y
-3.4%
MWB0
€9.90
mwb fairtrade Wertpapierhandelsbank
7D
-3.9%
1Y
6.5%
BBHK
€2,940.00
Deutsche Balaton
7D
-6.4%
1Y
89.7%
AEE1
€1.00
More Impact
7D
-9.1%
1Y
-63.0%