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German (DAX) Capital Markets Industry Analysis

UpdatedDec 12, 2025
DataAggregated Company Financials
Companies101
  • 7D2.2%
  • 3M-1.2%
  • 1Y36.4%
  • YTD36.8%

The Capital Markets industry is up 2.1% in the last week, with Deutsche Bank up 4.6%. This takes the industry's 12 month performance to a gain of 36%. Looking forward, earnings are forecast to grow by 8.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 12 Dec 2025€125.5b€53.5b€8.7b14.6x14.4x2.3x
Sun, 09 Nov 2025€121.0b€53.2b€8.7b14.9x13.9x2.3x
Tue, 07 Oct 2025€122.4b€53.2b€8.9b16.9x13.7x2.3x
Thu, 04 Sep 2025€125.4b€53.1b€8.9b16.9x14.1x2.4x
Sat, 02 Aug 2025€122.9b€52.2b€8.7b21x14.2x2.4x
Mon, 30 Jun 2025€123.1b€49.7b€6.4b25.8x19.3x2.5x
Wed, 28 May 2025€123.0b€49.9b€6.3b23.2x19.4x2.5x
Fri, 25 Apr 2025€114.8b€48.5b€5.7b27.2x20.2x2.4x
Sun, 23 Mar 2025€114.6b€49.8b€6.7b22.2x17.2x2.3x
Tue, 18 Feb 2025€104.3b€48.4b€5.7b18.9x18.2x2.2x
Thu, 16 Jan 2025€96.2b€48.8b€6.7b19x14.5x2x
Sat, 14 Dec 2024€92.8b€51.8b€6.7b20.3x13.9x1.8x
Mon, 11 Nov 2024€87.4b€51.5b€6.7b20.5x13.1x1.7x
Wed, 09 Oct 2024€87.7b€51.1b€6.2b22.9x14.2x1.7x
Fri, 06 Sep 2024€84.1b€51.3b€6.2b25.4x13.6x1.6x
Sun, 04 Aug 2024€77.5b€50.9b€6.5b20.7x12x1.5x
Tue, 02 Jul 2024€83.8b€50.0b€7.3b21.4x11.4x1.7x
Thu, 30 May 2024€83.4b€50.1b€7.3b21.5x11.4x1.7x
Sat, 27 Apr 2024€85.7b€49.7b€7.4b21.9x11.5x1.7x
Mon, 25 Mar 2024€81.3b€49.5b€7.2b21.4x11.3x1.6x
Wed, 21 Feb 2024€76.3b€45.1b€7.1b23.5x10.8x1.7x
Fri, 19 Jan 2024€77.4b€49.1b€7.7b24.5x10.1x1.6x
Sun, 17 Dec 2023€75.3b€49.2b€7.7b22x9.8x1.5x
Tue, 14 Nov 2023€69.5b€49.2b€7.7b22.2x9.1x1.4x
Thu, 12 Oct 2023€68.2b€48.4b€7.6b19.8x8.9x1.4x
Sat, 09 Sep 2023€67.6b€48.4b€7.6b22.2x8.9x1.4x
Mon, 07 Aug 2023€69.4b€47.1b€6.6b19x10.6x1.5x
Wed, 05 Jul 2023€68.4b€47.4b€7.7b18.2x8.9x1.4x
Fri, 02 Jun 2023€67.5b€47.6b€7.8b14.6x8.6x1.4x
Sun, 30 Apr 2023€69.1b€47.7b€7.8b11.8x8.8x1.4x
Tue, 28 Mar 2023€67.9b€46.9b€7.8b10x8.7x1.4x
Thu, 23 Feb 2023€70.4b€45.5b€7.8b10x9x1.5x
Sat, 21 Jan 2023€71.8b€46.4b€6.2b9.1x11.6x1.5x
Mon, 19 Dec 2022€66.7b€46.4b€6.2b9.2x10.7x1.4x
Price to Earnings Ratio

10.7x


Total Market Cap: €66.7bTotal Earnings: €6.2bTotal Revenue: €46.4bTotal Market Cap vs Earnings and Revenue0%0%0%
German Capital Markets Industry Price to Earnings3Y Average 12.6x202320242025
Current Industry PE
  • Investors are optimistic on the German Capital Markets industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 14.4x which is higher than its 3-year average PE of 12.6x.
  • The 3-year average PS ratio of 1.8x is lower than the industry's current PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 12% 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 Market1.65%
Financials3.21%
Capital Markets2.18%
Diversified Capital Markets5.23%
Investment Banking and Brokerage2.73%
Asset Management2.35%
Financial Exchanges and Data-2.45%
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 32.0x.
    • Analysts are expecting annual earnings growth of 19.3%, which is lower than the prior year's growth of 58.7% per year.
  • Investors are most pessimistic about the Diversified Capital Markets industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 7.9x.
Forecasted Growth
  • Analysts are most optimistic on the Investment Banking and Brokerage industry, expecting annual earnings growth of 19% over the next 5 years.
  • However this is lower than its past earnings growth rate of 59% per year.
  • In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 6.4% 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€32.615.2%
+€3.1b		92.3%PE12.1x
DWS DWS Group GmbH KGaA€53.603.5%
+€360.0m		29.1%PE13.3x
FTK flatexDEGIRO€34.108.3%
+€278.2m		119.6%PE24.9x
MLP MLP€6.872.5%
+€18.6m		16.6%PE11.5x
MUX Mutares SE KGaA€28.952.8%
+€17.1m		16.0%PE13.1x

Latest News

MUX
€28.95
Mutares SE KGaA
7D
2.8%
1Y
16.0%
DWS
€53.60
DWS Group GmbH KGaA
7D
3.5%
1Y
29.1%
MLP
€6.87
MLP
7D
2.5%
1Y
16.6%

MLP Lowered EBIT Outlook Will Still Support Attractive Upside Potential

Analysts have modestly trimmed their price target on MLP from approximately $11.27 to $10.50. This reflects slightly lower assumptions for revenue growth and valuation multiples while maintaining broadly stable profitability expectations.
FTK
€34.10
flatexDEGIRO
7D
8.3%
1Y
119.6%
DBK
€32.61
Deutsche Bank
7D
5.2%
1Y
92.3%

DBK: Share Buybacks And Partnerships Will Shape A Balanced Earnings Outlook

Analysts have nudged their price target for Deutsche Bank slightly lower to approximately $31.27 from about $31.30, citing a modestly higher revenue growth outlook, which is offset by a marginally softer profit margin and a slightly reduced future valuation multiple. What's in the News Completed a €250 million share repurchase of 8,376,498 shares, representing 0.43 percent of share capital, under the buyback announced on October 1, 2025 (Key Developments) Board authorized a new buyback plan and separately announced a program to repurchase up to 30,000,000 shares for €250 million, valid until November 16, 2025 (Key Developments) Reiterated confidence in achieving its 2025 revenue target of €32 billion before FX effects, supported by a strong start to the third quarter of 2025 (Key Developments) Formed a strategic corporate banking partnership with digital asset platform Bullish to provide fiat deposit and withdrawal services, real time reporting APIs, and virtual accounts across key regulated markets (Key Developments) Launched an evergreen private markets fund for qualified private clients in Europe and Switzerland in collaboration with DWS and Partners Group, aiming to broaden access to diversified private market investments (Key Developments) Valuation Changes Fair Value Estimate: edged down slightly to approximately €31.27 from about €31.30 per share.
AEE1
€1.34
More Impact
7D
-10.7%
1Y
34.0%
DB1
€215.10
Deutsche Börse
7D
-2.4%
1Y
-3.3%

DB1: Future Performance Will Benefit From Potential Allfunds Acquisition Progress

Analysts have slightly raised their fair value price target for Deutsche Börse from €256.47 to €260.54. They cite modest improvements in growth assumptions and a marginally lower discount rate, even though recent street research updates have shown mixed movements.
LQAG
€4.84
Laiqon
7D
4.5%
1Y
-6.9%
JDC
€25.80
JDC Group
7D
-5.1%
1Y
12.2%
HXCK
€6.76
Ernst Russ
7D
-2.3%
1Y
13.4%
O4B
€19.20
OVB Holding
7D
-1.5%
1Y
-3.5%
D77
€5.10
DN Group
7D
1.0%
1Y
169.8%
A7A
€14.90
Heliad
7D
4.2%
1Y
47.5%
BWB
€6.90
Baader Bank
7D
-4.2%
1Y
76.5%
BFV
€69.50
Berliner Effektengesellschaft
7D
-2.1%
1Y
11.2%

Berliner Effektengesellschaft (FRA:BFV) Will Pay A Dividend Of €0.50

May 07
Berliner Effektengesellschaft (FRA:BFV) Will Pay A Dividend Of €0.50
XTP
€94.40
Sino
7D
-1.9%
1Y
46.4%