SYNLAB (ETR:SYAB) Is Finding It Tricky To Allocate Its Capital
Nov 29
German (DAX) Healthcare Sector Analysis
UpdatedDec 04, 2023
DataAggregated Company Financials
Companies74
- 7D0.2%
- 3M-9.5%
- 1Y-13.7%
- YTD-8.3%
Over the last 7 days, the Healthcare industry has remained flat, although notably Siemens Healthineers gained 3.3%. As for the longer term, the industry has declined 14% in the last year. As for the next few years, earnings are expected to grow by 23% per annum.
Sector Valuation and Performance
Has the German Healthcare Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 04 Dec 2023 | €243.7b | €188.4b | €3.3b | 23.1x | 74.2x | 1.3x |
| Wed, 01 Nov 2023 | €229.7b | €189.3b | €8.6b | 20.3x | 26.6x | 1.2x |
| Fri, 29 Sep 2023 | €253.5b | €189.5b | €8.8b | 22x | 28.9x | 1.3x |
| Sun, 27 Aug 2023 | €258.7b | €189.4b | €8.8b | 24x | 29.3x | 1.4x |
| Tue, 25 Jul 2023 | €268.8b | €191.1b | €10.5b | 24.2x | 25.5x | 1.4x |
| Thu, 22 Jun 2023 | €258.3b | €191.0b | €10.5b | 24x | 24.6x | 1.4x |
| Sat, 20 May 2023 | €276.1b | €191.0b | €10.9b | 23.9x | 25.3x | 1.4x |
| Mon, 17 Apr 2023 | €283.8b | €190.6b | €12.6b | 22.1x | 22.5x | 1.5x |
| Wed, 15 Mar 2023 | €275.4b | €190.3b | €12.9b | 18.3x | 21.3x | 1.4x |
| Fri, 10 Feb 2023 | €294.4b | €187.6b | €13.8b | 18.7x | 21.3x | 1.6x |
| Sun, 08 Jan 2023 | €272.4b | €187.6b | €13.9b | 18.6x | 19.6x | 1.5x |
| Tue, 06 Dec 2022 | €275.3b | €187.4b | €13.8b | 20.3x | 19.9x | 1.5x |
| Thu, 03 Nov 2022 | €258.1b | €183.1b | €13.4b | 18.8x | 19.2x | 1.4x |
| Sat, 01 Oct 2022 | €246.9b | €182.2b | €13.4b | 17.8x | 18.5x | 1.4x |
| Mon, 29 Aug 2022 | €274.7b | €182.3b | €13.4b | 21.7x | 20.5x | 1.5x |
| Wed, 27 Jul 2022 | €288.2b | €178.6b | €11.4b | 24.5x | 25.4x | 1.6x |
| Fri, 24 Jun 2022 | €266.1b | €178.4b | €11.3b | 22.5x | 23.5x | 1.5x |
| Sun, 22 May 2022 | €299.0b | €185.8b | €11.3b | 21.6x | 26.4x | 1.6x |
| Tue, 19 Apr 2022 | €317.3b | €179.9b | €10.1b | 25.7x | 31.5x | 1.8x |
| Thu, 17 Mar 2022 | €309.4b | €179.4b | €10.4b | 23.4x | 29.7x | 1.7x |
| Sat, 12 Feb 2022 | €308.7b | €176.6b | €9.3b | 26.8x | 33.2x | 1.7x |
| Mon, 10 Jan 2022 | €336.1b | €175.4b | €9.3b | 26.4x | 36.3x | 1.9x |
| Wed, 08 Dec 2021 | €336.4b | €158.6b | €9.3b | 28.3x | 36.3x | 2.1x |
| Fri, 05 Nov 2021 | €350.3b | €154.6b | €1.2b | 30.2x | 299.3x | 2.3x |
| Sun, 03 Oct 2021 | €322.8b | €154.3b | €1.3b | 28.8x | 250.8x | 2.1x |
| Tue, 31 Aug 2021 | €346.1b | €171.3b | €1.3b | 30.4x | 276.6x | 2x |
| Wed, 07 Jul 2021 | €309.2b | €171.3b | €1.3b | 29.4x | 247.1x | 1.8x |
| Sat, 10 Apr 2021 | €282.0b | €163.4b | -€7,275,464,136.33 | 28.2x | -38.8x | 1.7x |
| Fri, 01 Jan 2021 | €262.9b | €163.2b | -€8,352,894,314.56 | 29.3x | -31.5x | 1.6x |
Price to Earnings Ratio
-21.3x
Current Industry PE
- Investors are optimistic on the German Healthcare industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 74.2x which is higher than its 3-year average PE of 44.2x.
- The 3-year average PS ratio of 1.6x is higher than the industry's current PS ratio of 1.3x.
Past Earnings Growth
- Total earnings for the Healthcare industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 5.0% per year.
- This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.
Industry Trends
Which industries have driven the changes within the German Healthcare sector?
| DE Market | 1.41% | |
| Healthcare | 0.22% | |
| Biotech | 3.64% | |
| Healthcare Services | 3.21% | |
| Medical Equipment | 2.35% | |
| Life Sciences | 0.58% | |
| Pharma | -2.25% | |
| Healthtech | -3.92% | |
Industry PE
- Investors are most optimistic about the Life Sciences industry which is trading above its 3-year average PE ratio of 50.1x.
- Analysts are expecting annual earnings growth of 22.4%, which is higher than its past year's earnings growth of 18.6% per year.
Forecasted Growth
- Analysts are most optimistic on the Biotech industry, expecting annual earnings growth of 47% over the next 5 years.
- In contrast, the Medical Equipment industry is expected to see its earnings grow by 18% 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 | |
|---|---|---|---|---|---|
| SHL Siemens Healthineers | €53.16 | 3.8% +€2.2b | 4.4% | PE39.3x | |
| FRE Fresenius SE KGaA | €29.09 | 3.2% +€501.3m | 9.3% | PE17.4x | |
| FME Fresenius Medical Care KGaA | €38.00 | 3.6% +€387.3m | 22.7% | PE24.8x | |
| MOR MorphoSys | €24.44 | 37.3% +€226.9m | 52.9% | PE9.1x | |
| SYAB SYNLAB | €11.62 | 3.8% +€92.3m | -15.6% | PE19.8x |