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German (DAX) Capital Markets Industry Analysis

UpdatedJun 19, 2026
DataAggregated Company Financials
Companies116
  • 7D6.6%
  • 3M12.1%
  • 1Y12.1%
  • YTD0.8%

In the last week, the Capital Markets industry is up 6.6%, with Deutsche Bank up 15%. This means that the industry has gained 12% over the past year. As for the next few years, earnings are expected to grow by 7.4% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 19 Jun 2026€129.9b€55.3b€9.5b14.8x13.7x2.3x
Sun, 17 May 2026€121.1b€54.9b€9.5b14.9x12.8x2.2x
Tue, 14 Apr 2026€124.3b€54.1b€9.5b13.3x13.1x2.3x
Thu, 12 Mar 2026€120.2b€53.2b€9.9b12.6x12.2x2.3x
Sat, 07 Feb 2026€125.4b€53.0b€9.9b12.9x12.7x2.4x
Mon, 05 Jan 2026€129.0b€53.5b€8.7b14.6x14.8x2.4x
Wed, 03 Dec 2025€124.0b€53.5b€8.7b14.4x14.2x2.3x
Fri, 31 Oct 2025€124.1b€53.2b€8.7b16x14.3x2.3x
Sun, 28 Sep 2025€122.8b€53.2b€8.9b17.3x13.8x2.3x
Tue, 26 Aug 2025€131.7b€52.9b€8.9b16.6x14.8x2.5x
Thu, 24 Jul 2025€120.7b€49.8b€6.5b21.4x18.6x2.4x
Sat, 21 Jun 2025€117.6b€49.9b€6.4b23.8x18.5x2.4x
Mon, 19 May 2025€122.6b€49.5b€6.3b22.5x19.4x2.5x
Wed, 16 Apr 2025€110.2b€48.4b€5.7b25.6x19.4x2.3x
Fri, 14 Mar 2025€110.1b€48.3b€5.7b18.7x19.2x2.3x
Sun, 09 Feb 2025€101.2b€48.2b€5.6b18.9x18x2.1x
Tue, 07 Jan 2025€92.5b€48.8b€6.7b20.4x13.9x1.9x
Thu, 05 Dec 2024€91.4b€51.8b€6.7b19.9x13.6x1.8x
Sat, 02 Nov 2024€88.9b€51.5b€6.7b21.5x13.2x1.7x
Mon, 30 Sep 2024€86.7b€51.1b€6.2b23.6x14x1.7x
Wed, 28 Aug 2024€83.0b€51.2b€6.2b26.4x13.5x1.6x
Fri, 26 Jul 2024€80.9b€50.4b€6.4b21x12.6x1.6x
Sun, 23 Jun 2024€82.3b€50.2b€7.3b20.4x11.2x1.6x
Tue, 21 May 2024€85.1b€50.1b€7.4b20.1x11.6x1.7x
Thu, 18 Apr 2024€82.3b€49.5b€7.3b21.9x11.3x1.7x
Sat, 16 Mar 2024€79.6b€48.2b€7.2b21.5x11.1x1.7x
Mon, 12 Feb 2024€74.9b€45.2b€7.1b23.2x10.6x1.7x
Wed, 10 Jan 2024€78.5b€49.1b€7.7b24.6x10.3x1.6x
Fri, 08 Dec 2023€74.1b€49.2b€7.7b21.9x9.6x1.5x
Sun, 05 Nov 2023€68.0b€49.0b€7.7b23x8.9x1.4x
Tue, 03 Oct 2023€69.4b€48.4b€7.6b22.6x9.1x1.4x
Thu, 31 Aug 2023€68.9b€47.2b€6.7b22.8x10.2x1.5x
Sat, 29 Jul 2023€70.9b€47.2b€6.6b19x10.8x1.5x
Mon, 26 Jun 2023€66.8b€47.5b€7.8b17.9x8.6x1.4x
Price to Earnings Ratio

8.6x


Total Market Cap: €66.8bTotal 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 2.3x.
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 Market2.37%
Financials4.43%
Capital Markets6.57%
Diversified Capital Markets14.71%
Investment Banking and Brokerage4.79%
Asset Management4.21%
Financial Exchanges and Data-1.34%
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 8.7x.
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 6.5% 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€31.098.2%
+€4.4b		29.6%PE9.7x
FTK flatexDEGIRO€37.423.6%
+€139.1m		61.2%PE23.3x
DWS DWS Group GmbH KGaA€61.250.7%
+€90.0m		29.5%PE12.3x
EUX EUWAX€52.406.9%
+€17.5m		24.2%PE20.9x
MUX Mutares SE KGaA€29.402.3%
+€16.7m		-15.3%PS0.1x

Latest News

T2G
€85.00
Tradegate Wertpapierhandelsbank
7D
-1.2%
1Y
-2.9%
DB1
€244.00
Deutsche Börse
7D
-2.2%
1Y
-10.3%
Narrative Update • Jun 16

DB1: Future Returns Will Reflect Retail Trading And Prediction Market Upside

Analysts have trimmed the consolidated fair value estimate for Deutsche Börse stock by about €1.42 to €286.08, reflecting recent price target cuts from firms that still highlight potential long term opportunities in retail trading volumes and prediction markets. Analyst Commentary Recent research on Deutsche Börse reflects a mix of optimism about long term growth drivers and caution around how much of that potential is already reflected in the stock price.
MUX
€29.40
Mutares SE KGaA
7D
2.3%
1Y
-15.3%
EUX
€52.40
EUWAX
7D
6.9%
1Y
24.2%
O4B
€20.60
OVB Holding
7D
-3.7%
1Y
-7.2%
DWS
€61.25
DWS Group GmbH KGaA
7D
0.7%
1Y
29.5%
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
€37.42
flatexDEGIRO
7D
3.6%
1Y
61.2%
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
€31.09
Deutsche Bank
7D
8.2%
1Y
29.6%
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.
MPCK
€5.20
MPC Münchmeyer Petersen Capital
7D
-4.8%
1Y
6.1%
Narrative Update • Jun 04

MPCK: Confirmed 2026 Guidance And Stable Assumptions Will Support Earnings Power

Analysts have adjusted their price target on MPC Münchmeyer Petersen Capital to €5.80. The updated view reflects slightly different assumptions for the discount rate, revenue growth, profit margin and future P/E, while keeping the fair value estimate broadly consistent with prior work.
ERAG
€8.02
Ernst Russ
7D
-4.5%
1Y
24.5%
LUS1
€27.30
Lang & Schwarz
7D
-2.2%
1Y
21.3%
B8A
€102.00
BAVARIA Industries Group
7D
3.0%
1Y
n/a
BBHK
€2,960.00
Deutsche Balaton
7D
3.5%
1Y
68.2%
LEH
€0.12
Lampetia
7D
-42.3%
1Y
200.0%
SRAG
€2.04
Samara Asset Group
7D
-6.8%
1Y
5.2%
5NB
€32.00
Novetum
7D
4.6%
1Y
n/a