Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

German (DAX) Healthcare Sector Analysis

UpdatedFeb 26, 2026
DataAggregated Company Financials
Companies66
  • 7D-2.2%
  • 3M6.4%
  • 1Y-0.6%
  • YTD1.4%

Over the last 7 days, the Healthcare industry has dropped 2.2%, driven by Bayer declining 7.0%. As for the longer term, the industry's performance has been flat for the past year. As for the next few years, earnings are expected to grow by 19% per annum.

Sector Valuation and Performance

Has the German Healthcare Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 26 Feb 2026€220.8b€159.1b€7.6b16.8x29.1x1.4x
Sat, 24 Jan 2026€226.0b€159.2b€7.3b17.6x30.8x1.4x
Mon, 22 Dec 2025€214.8b€159.2b€7.3b17.3x29.3x1.3x
Wed, 19 Nov 2025€199.7b€159.4b€7.4b16.4x27.1x1.3x
Fri, 17 Oct 2025€209.5b€159.1b€3.9b20.1x53.1x1.3x
Sun, 14 Sep 2025€199.7b€156.7b€4.0b19.3x49.9x1.3x
Tue, 12 Aug 2025€198.2b€157.3b€4.0b20.7x50.2x1.3x
Thu, 10 Jul 2025€205.4b€159.8b€4.2b20.4x48.9x1.3x
Sat, 07 Jun 2025€208.1b€159.9b€4.3b20.8x48.6x1.3x
Mon, 05 May 2025€210.3b€158.7b€4.6b24x45.3x1.3x
Wed, 02 Apr 2025€209.7b€158.8b€4.7b23x44.4x1.3x
Fri, 28 Feb 2025€220.2b€158.5b€6.3b23.9x35x1.4x
Sun, 26 Jan 2025€221.5b€159.0b€5.0b23.4x44.3x1.4x
Tue, 24 Dec 2024€208.9b€159.3b€5.0b21.7x41.7x1.3x
Thu, 21 Nov 2024€205.5b€159.2b€5.0b21.6x41x1.3x
Sat, 19 Oct 2024€231.4b€159.3b€5.7b21.6x40.7x1.5x
Mon, 16 Sep 2024€229.6b€159.2b€5.6b22.4x41x1.4x
Wed, 14 Aug 2024€225.7b€159.1b€5.6b25.3x40.1x1.4x
Fri, 12 Jul 2024€227.9b€158.6b€3.5b24.5x64.4x1.4x
Sun, 09 Jun 2024€240.7b€158.6b€3.5b26.9x68.2x1.5x
Tue, 07 May 2024€232.0b€159.0b€3.5b25.1x66.7x1.5x
Thu, 04 Apr 2024€244.2b€159.4b€3.2b25.3x76.3x1.5x
Sat, 02 Mar 2024€243.9b€178.9b€3.3b21.2x72.9x1.4x
Mon, 29 Jan 2024€245.3b€188.4b€3.3b22.3x74.5x1.3x
Wed, 27 Dec 2023€243.0b€188.4b€3.3b21.8x74.3x1.3x
Fri, 24 Nov 2023€243.3b€188.4b€3.3b23.1x74.1x1.3x
Sun, 22 Oct 2023€234.7b€189.3b€8.6b21.4x27.2x1.2x
Tue, 19 Sep 2023€254.9b€189.5b€8.8b22.4x29.1x1.3x
Thu, 17 Aug 2023€263.5b€189.4b€8.9b24.6x29.7x1.4x
Sat, 15 Jul 2023€260.0b€191.1b€10.5b24x24.7x1.4x
Mon, 12 Jun 2023€270.4b€191.1b€10.5b23.4x25.8x1.4x
Wed, 10 May 2023€279.9b€190.7b€12.5b23.1x22.4x1.5x
Fri, 07 Apr 2023€287.8b€190.5b€12.6b22.4x22.8x1.5x
Sun, 05 Mar 2023€279.9b€189.6b€13.2b18.1x21.2x1.5x
Price to Earnings Ratio

21.2x


Total Market Cap: €279.9bTotal Earnings: €13.2bTotal Revenue: €189.6bTotal Market Cap vs Earnings and Revenue0%0%0%
German Healthcare Sector Price to Earnings3Y Average 45.3x202420252026
Current Industry PE
  • Investors are pessimistic on the German Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 29.1x which is lower than its 3-year average PE of 45.3x.
  • The industry is trading close to its 3-year average PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have declined 17% per year over the last three years,
  • Revenues have also declined 5.7% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the German Healthcare sector?

DE Market-0.093%
Healthcare-2.17%
Biotech5.43%
Life Sciences0.52%
Medical Equipment0.21%
Healthtech-0.011%
Healthcare Services-2.38%
Pharma-4.14%
Industry PE
  • Investors are most optimistic about the Life Sciences industry, which is trading close to its 3-year average PE ratio of 106x.
    • Analysts are expecting annual earnings growth of 22.9%, which is higher than its past year's earnings growth of 11.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Biotech industry, expecting annual earnings growth of 62% over the next 5 years.
  • In contrast, the Medical Equipment industry is expected to see its earnings grow by 13% 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
SHL Siemens Healthineers€42.392.3%
+€1.0b		-21.4%PE22.3x
DMP Dermapharm Holding€39.303.8%
+€78.1m		0.8%PE18.2x
AFX Carl Zeiss Meditec€27.281.0%
+€24.5m		-54.2%PE19.8x
EUZ Eckert & Ziegler€15.172.4%
+€21.9m		-21.3%PE23.4x
COP CompuGroup Medical SE KGaA€27.501.1%
+€15.5m		21.3%PE78x

Latest News

GXI
€15.70
Gerresheimer
7D
-24.7%
1Y
-80.4%
BAYN
€41.68
Bayer
7D
-8.5%
1Y
83.2%
FME
€39.22
Fresenius Medical Care
7D
-3.6%
1Y
-13.9%
AFX
€27.28
Carl Zeiss Meditec
7D
1.0%
1Y
-54.2%

AFX: Lower Guidance And China Tender Pressures Will Drive Further Multiple Compression

Carl Zeiss Meditec's updated analyst price target has moved to €22.40 from €31.00, as analysts factor in revised discount rates, profitability assumptions, and a lower future P/E multiple following a series of target cuts and rating changes across the Street. Analyst Commentary Recent Street research on Carl Zeiss Meditec has tilted more cautious, with multiple bearish analysts cutting price targets and lowering their expectations for what they are willing to pay for the shares.
SBS
€21.05
Stratec
7D
4.7%
1Y
-22.3%

SBS: Higher Discount Rate Will Still Allow Future Upside Potential

Analysts have reduced their price target on Stratec by €1 to €26, reflecting updated assumptions regarding the company’s discount rate, revenue growth, profit margin and future P/E profile. Analyst Commentary Bearish analysts cutting the price target to €26 are signaling a more cautious stance on Stratec’s risk and reward trade off at current levels.
FRE
€51.32
Fresenius SE KGaA
7D
-1.5%
1Y
34.3%

FRE: Future Outlook Will Be Guided By Steady Assumptions And Mixed Sentiment

Analysts have updated their view on Fresenius SE KGaA with a revised price target, reflecting the mixed impact of a €5 increase from one research house and a €1 reduction from another, while keeping core assumptions such as fair value, discount rate, revenue growth, profit margin and future P/E essentially unchanged. Analyst Commentary Recent research updates on Fresenius SE KGaA point to a mixed but broadly steady view on the company, with price targets adjusted within a relatively tight range and key modelling inputs such as fair value, discount rate, revenue growth, profit margin and future P/E left largely unchanged.
EVT
€5.86
Evotec
7D
-4.2%
1Y
-31.2%

EVT: Kidney Disease Milestone Prospects Will Support Future Upside

Analysts have made only a very small adjustment to their Evotec price target, keeping it effectively unchanged at about €8.72. Updated assumptions for discount rate, revenue growth, profit margin and future P/E remain closely aligned with prior estimates.
SHL
€42.39
Siemens Healthineers
7D
2.3%
1Y
-21.4%

SHL: Dividend And P E Framework Will Shape Future Upside Potential

Analysts have trimmed their price target on Siemens Healthineers by about €0.75, reflecting slightly higher discount rate assumptions, along with modest adjustments to revenue growth, profit margin and future P/E expectations. Analyst Commentary Recent research updates show a mix of optimism and caution around Siemens Healthineers, with one recent report trimming the price target by €1 and another earlier report raising it by €2.
MRK
€125.65
Merck KGaA
7D
-1.8%
1Y
-7.1%

MRK: Margin Gains And HPC Buildout Will Shape Future Upside Potential

Analysts have raised their price target on Merck KGaA to €130 from €125, citing updated expectations for slightly lower revenue growth, a modestly higher discount rate, and a small uplift in projected profit margin and future P/E assumptions. Analyst Commentary Recent research on Merck KGaA presents a mixed picture, but there is a clear cluster of constructive views around valuation, profitability, and execution.
1SXP
€14.88
SCHOTT Pharma KGaA
7D
-1.5%
1Y
-40.5%

1SXP: Dividend Initiation Will Support Confidence In Updated Mid Term Outlook

Analysts have nudged their price target for SCHOTT Pharma KGaA slightly lower from €26.00 to €25.90, citing updated assumptions for the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News The Annual General Meeting on February 3, 2026 approved a dividend of €0.18 per share, with a payout ratio of 18% of consolidated net income (company announcement).
COP
€27.50
CompuGroup Medical SE KGaA
7D
1.1%
1Y
21.3%
MED
€3.86
MEDICLIN
7D
4.3%
1Y
33.1%
EUZ
€15.17
Eckert & Ziegler
7D
2.4%
1Y
-21.3%

Why Eckert & Ziegler SE (ETR:EUZ) Could Be Worth Watching

Jan 10
Why Eckert & Ziegler SE (ETR:EUZ) Could Be Worth Watching
7ZT
€0.53
Hamlet BioPharma
7D
15.6%
1Y
n/a

Is Hamlet BioPharma (FRA:7ZT) In A Good Position To Invest In Growth?

Jan 03
Is Hamlet BioPharma (FRA:7ZT) In A Good Position To Invest In Growth?
DMP
€39.30
Dermapharm Holding
7D
3.8%
1Y
0.8%

These 4 Measures Indicate That Dermapharm Holding (ETR:DMP) Is Using Debt Reasonably Well

Dec 24
These 4 Measures Indicate That Dermapharm Holding (ETR:DMP) Is Using Debt Reasonably Well
OBCK
€55.90
Ottobock SE KGaA
7D
-2.4%
1Y
n/a