Narrative Update • Jun 26
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German (DAX) Capital Markets Industry Analysis
UpdatedJul 05, 2026
DataAggregated Company Financials
Companies116
- 7D5.8%
- 3M11.6%
- 1Y13.3%
- YTD4.0%
Over the last 7 days, the Capital Markets industry has risen 5.8%, driven by gains from Deutsche Bank of 7.4%. Meanwhile, Lang & Schwarz actually underperformed within the industry, shrinking 27% in the last week. This means that the industry has gained 13% over 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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 05 Jul 2026 | €134.1b | €54.7b | €9.3b | 14.5x | 14.4x | 2.4x |
| Tue, 02 Jun 2026 | €124.8b | €55.3b | €9.5b | 14.9x | 13.2x | 2.3x |
| Thu, 30 Apr 2026 | €124.8b | €54.3b | €9.6b | 14.9x | 13x | 2.3x |
| Sat, 28 Mar 2026 | €115.2b | €54.3b | €9.6b | 13.7x | 12x | 2.1x |
| Mon, 23 Feb 2026 | €125.1b | €53.1b | €9.9b | 13.1x | 12.7x | 2.4x |
| Wed, 21 Jan 2026 | €126.9b | €53.7b | €8.7b | 14.2x | 14.5x | 2.4x |
| Fri, 19 Dec 2025 | €127.0b | €53.5b | €8.7b | 14.8x | 14.5x | 2.4x |
| Sun, 16 Nov 2025 | €122.1b | €53.2b | €8.7b | 15.4x | 14x | 2.3x |
| Tue, 14 Oct 2025 | €124.4b | €53.2b | €8.9b | 16.9x | 14x | 2.3x |
| Thu, 11 Sep 2025 | €126.4b | €53.1b | €8.9b | 15.8x | 14.2x | 2.4x |
| Sat, 09 Aug 2025 | €130.5b | €52.4b | €8.7b | 19.3x | 15x | 2.5x |
| Mon, 07 Jul 2025 | €118.4b | €49.6b | €6.4b | 23.2x | 18.6x | 2.4x |
| Wed, 04 Jun 2025 | €121.1b | €49.8b | €6.4b | 23.8x | 19x | 2.4x |
| Fri, 02 May 2025 | €117.5b | €49.5b | €6.3b | 27.1x | 18.6x | 2.4x |
| Sun, 30 Mar 2025 | €114.9b | €49.8b | €6.7b | 20.9x | 17.3x | 2.3x |
| Tue, 25 Feb 2025 | €104.0b | €48.4b | €5.7b | 19.1x | 18.2x | 2.1x |
| Thu, 23 Jan 2025 | €98.1b | €48.8b | €6.7b | 19.1x | 14.7x | 2x |
| Sat, 21 Dec 2024 | €90.9b | €51.8b | €6.7b | 19.6x | 13.6x | 1.8x |
| Mon, 18 Nov 2024 | €88.1b | €51.8b | €6.7b | 20.7x | 13.2x | 1.7x |
| Wed, 16 Oct 2024 | €88.6b | €51.1b | €6.2b | 22.9x | 14.3x | 1.7x |
| Fri, 13 Sep 2024 | €83.4b | €51.1b | €6.2b | 25.7x | 13.5x | 1.6x |
| Sun, 11 Aug 2024 | €77.5b | €50.8b | €6.4b | 22x | 12x | 1.5x |
| Tue, 09 Jul 2024 | €83.3b | €50.1b | €7.2b | 22.3x | 11.5x | 1.7x |
| Thu, 06 Jun 2024 | €85.1b | €50.2b | €7.5b | 21.3x | 11.4x | 1.7x |
| Sat, 04 May 2024 | €83.8b | €49.8b | €7.5b | 21x | 11.2x | 1.7x |
| Mon, 01 Apr 2024 | €83.1b | €49.3b | €7.2b | 21.6x | 11.6x | 1.7x |
| Wed, 28 Feb 2024 | €78.0b | €45.1b | €7.1b | 23x | 11x | 1.7x |
| Fri, 26 Jan 2024 | €77.4b | €49.1b | €7.7b | 24.6x | 10.1x | 1.6x |
| Sun, 24 Dec 2023 | €77.3b | €49.2b | €7.7b | 22.2x | 10.1x | 1.6x |
| Tue, 21 Nov 2023 | €71.8b | €49.2b | €7.7b | 21.7x | 9.3x | 1.5x |
| Thu, 19 Oct 2023 | €66.5b | €48.5b | €7.6b | 19.8x | 8.7x | 1.4x |
| Sat, 16 Sep 2023 | €69.0b | €48.4b | €7.6b | 22.2x | 9x | 1.4x |
| Mon, 14 Aug 2023 | €69.0b | €47.5b | €6.8b | 18.9x | 10.1x | 1.5x |
| Wed, 12 Jul 2023 | €66.0b | €47.4b | €7.7b | 17.2x | 8.6x | 1.4x |
Price to Earnings Ratio
8.6x
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 13.3x.
- The 3-year average PS ratio of 2.0x 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 6.9% per year over the last three years.
- Revenues for these companies have grown 4.9% 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 | 3.77% | |
| Financials | 3.67% | |
| Capital Markets | 5.84% | |
| Diversified Capital Markets | 7.42% | |
| Asset Management | 5.94% | |
| Financial Exchanges and Data | 4.81% | |
| Investment Banking and Brokerage | 0.68% | |
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 18.0%, which is lower than the prior year's growth of 74.4% 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 8.8x.
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 6.2% 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 | |
|---|---|---|---|---|---|
| DBK Deutsche Bank | €31.83 | 7.4% +€4.1b | 30.0% | PE10x | |
| DB1 Deutsche Börse | €249.80 | 4.8% +€2.1b | -7.8% | PE22.1x | |
| DWS DWS Group GmbH KGaA | €68.50 | 8.9% +€1.1b | 45.6% | PE13.8x | |
| FTK flatexDEGIRO | €37.88 | 2.6% +€102.7m | 58.9% | PE23.6x | |
| 5NB Novetum | €36.00 | 12.5% +€25.0m | n/a | n/a |