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German (DAX) Capital Markets Industry Analysis

UpdatedJun 12, 2026
DataAggregated Company Financials
Companies116
  • 7D-1.2%
  • 3M3.7%
  • 1Y2.4%
  • YTD-5.4%

Over the last 7 days, the Capital Markets industry has dropped 1.2%, driven by Deutsche Bank declining 2.8%. As for the longer term, the industry's performance has been flat for the past year. Earnings are forecast to grow by 7.4% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 12 Jun 2026€121.9b€55.3b€9.5b14.9x12.9x2.2x
Sun, 10 May 2026€121.5b€55.0b€9.7b15.3x12.5x2.2x
Tue, 07 Apr 2026€120.0b€54.1b€9.5b13.9x12.6x2.2x
Thu, 05 Mar 2026€124.0b€53.2b€9.9b12.6x12.6x2.3x
Sat, 31 Jan 2026€129.7b€54.2b€9.8b14.5x13.3x2.4x
Mon, 29 Dec 2025€129.2b€53.5b€8.7b14.7x14.8x2.4x
Wed, 26 Nov 2025€120.7b€53.5b€8.7b14.5x13.8x2.3x
Fri, 24 Oct 2025€120.2b€53.2b€8.9b16.2x13.5x2.3x
Sun, 21 Sep 2025€124.1b€53.2b€8.9b17x13.9x2.3x
Tue, 19 Aug 2025€130.5b€53.5b€8.9b19.5x14.7x2.4x
Thu, 17 Jul 2025€120.1b€49.8b€6.5b22.3x18.6x2.4x
Sat, 14 Jun 2025€117.1b€49.9b€6.4b22.8x18.4x2.3x
Mon, 12 May 2025€122.0b€49.4b€6.3b26.9x19.3x2.5x
Wed, 09 Apr 2025€103.1b€48.4b€5.7b22.4x18.1x2.1x
Fri, 07 Mar 2025€112.1b€48.3b€5.7b19.5x19.6x2.3x
Sun, 02 Feb 2025€101.2b€48.2b€5.6b18.9x18x2.1x
Tue, 31 Dec 2024€91.6b€48.8b€6.7b19.4x13.8x1.9x
Thu, 28 Nov 2024€88.3b€51.8b€6.7b20.3x13.2x1.7x
Sat, 26 Oct 2024€88.5b€51.5b€6.7b23.1x13.2x1.7x
Mon, 23 Sep 2024€85.3b€51.1b€6.2b26x13.8x1.7x
Wed, 21 Aug 2024€80.9b€51.2b€6.1b23.5x13.2x1.6x
Fri, 19 Jul 2024€82.9b€50.2b€7.3b21.7x11.3x1.7x
Sun, 16 Jun 2024€80.4b€50.1b€7.3b20.9x11x1.6x
Tue, 14 May 2024€84.9b€50.0b€7.3b21.9x11.6x1.7x
Thu, 11 Apr 2024€83.8b€49.3b€7.2b22.1x11.7x1.7x
Sat, 09 Mar 2024€78.2b€45.2b€7.1b22.8x11x1.7x
Mon, 05 Feb 2024€78.5b€48.1b€7.1b24.5x11x1.6x
Wed, 03 Jan 2024€77.7b€49.1b€7.7b24.5x10.1x1.6x
Fri, 01 Dec 2023€73.0b€49.2b€7.7b21.9x9.5x1.5x
Sun, 29 Oct 2023€66.5b€49.0b€7.7b21.2x8.7x1.4x
Tue, 26 Sep 2023€68.0b€48.4b€7.6b23.4x8.9x1.4x
Thu, 24 Aug 2023€67.5b€47.2b€6.8b20.5x9.9x1.4x
Sat, 22 Jul 2023€69.2b€47.4b€7.7b19x9x1.5x
Mon, 19 Jun 2023€68.9b€47.5b€7.8b18.4x8.8x1.5x
Price to Earnings Ratio

8.8x


Total Market Cap: €68.9bTotal Earnings: €7.8bTotal Revenue: €47.5bTotal Market Cap vs Earnings and Revenue0%0%0%
German Capital Markets Industry Price to Earnings3Y Average 13.2x202420252026
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 13.2x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.2x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 6.6% per year over the last three years.
  • Revenues for these companies have grown 5.2% 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 Market-2.98%
Financials1.42%
Capital Markets-1.19%
Investment Banking and Brokerage0.91%
Financial Exchanges and Data0.45%
Asset Management-1.58%
Diversified Capital Markets-2.79%
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 33.1x.
    • Analysts are expecting annual earnings growth of 18.1%, which is lower than the prior year's growth of 74.4% per year.
  • Investors are most pessimistic about the Diversified Capital Markets industry, which is trading close to its 3-year average of 8.7x.
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 74% per year.
  • In contrast, the Asset Management industry is expected to see its earnings grow by 6.7% 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€246.400.4%
+€200.3m		-9.4%PE21.8x
FTK flatexDEGIRO€34.043.3%
+€117.7m		42.5%PE21.2x
BFV Berliner Effektengesellschaft€74.503.5%
+€32.5m		6.4%PE35.4x
D77 DN Group€5.907.3%
+€22.2m		71.5%n/a
BBHK Deutsche Balaton€2.86k2.1%
+€6.3m		73.3%PE3.1x

Latest News

MUX
€27.75
Mutares SE KGaA
7D
-3.1%
1Y
-17.8%
D77
€5.90
DN Group
7D
7.3%
1Y
71.5%
DWS
€57.85
DWS Group GmbH KGaA
7D
-2.1%
1Y
14.6%
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.
FTK
€34.04
flatexDEGIRO
7D
3.3%
1Y
42.5%
Narrative Update • Jun 06

FTK: Future Returns Will Hinge On Execution Towards 2027 Earnings And Dividend Framework

The analyst price target for flatexDEGIRO is updated higher by about €0.90 to reflect a slightly increased fair value estimate and recent upward revisions from several research houses, with analysts pointing to supporting factors cited in the latest Berenberg, Goldman Sachs, Citi, and Morgan Stanley reports. Analyst Commentary Bullish Takeaways Bullish analysts have raised their price targets by €1.50 to €3.00 in several steps, which indicates higher assessed fair value for the stock based on their current models.
DBK
€26.96
Deutsche Bank
7D
-2.8%
1Y
10.5%
Narrative Update • Jun 05

DBK: Future AML Probe Fallout Will Pressure Earnings Assumptions

Analysts have trimmed their fair value estimate for Deutsche Bank shares from €19.30 to €18.91, reflecting updated assumptions around revenue growth, profit margins, and a lower future P/E multiple. What's in the News German authorities raided Deutsche Bank as part of a money laundering probe tied to historic transactions with firms linked to sanctioned Roman Abramovich, focusing on an allegedly late filing of a suspicious activity report between 2013 and 2018, with the bank stating it is cooperating fully with investigators.
BFV
€74.50
Berliner Effektengesellschaft
7D
3.5%
1Y
6.4%
T2G
€85.00
Tradegate Wertpapierhandelsbank
7D
-2.9%
1Y
-4.0%
JDC
€21.00
JDC Group
7D
1.9%
1Y
-12.1%
DB1
€246.40
Deutsche Börse
7D
0.4%
1Y
-9.4%
Narrative Update • Jun 02

DB1: Future Returns Will Reward Volatility Hedge Appeal And Premium Earnings Multiple

Analysts now see fair value for Deutsche Börse at €287.50, up from €282.46. This reflects a mix of recent target changes and upgrades, with some firms lifting their price targets while others have trimmed them, along with modest adjustments to assumptions on discount rate, revenue trends, profit margins, and future P/E.
BWB
€6.90
Baader Bank
7D
1.2%
1Y
52.0%
ERAG
€8.36
Ernst Russ
7D
-3.9%
1Y
10.3%
LUS1
€27.70
Lang & Schwarz
7D
-4.2%
1Y
25.3%
B8A
€99.00
BAVARIA Industries Group
7D
-3.9%
1Y
n/a
BBHK
€2,860.00
Deutsche Balaton
7D
2.1%
1Y
73.3%
AEE1
€0.91
More Impact
7D
-4.2%
1Y
-57.9%
ICP
€4.40
United Eco Solutions
7D
122.2%
1Y
131.6%