Narrative Update • May 23
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German (DAX) Pharma Industry Analysis
UpdatedMay 27, 2026
DataAggregated Company Financials
Companies9
- 7D3.0%
- 3M-3.1%
- 1Y23.4%
- YTD3.7%
The Pharma industry is up 6.4% in the last week, with Merck KGaA up 6.6%. In the last 12 months, the industry was up 26%. Looking forward, earnings are forecast to grow by 24% annually.
Industry Valuation and Performance
Has the German Pharma Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 27 May 2026 | €96.0b | €67.4b | €511.4m | 22x | 187.7x | 1.4x |
| Fri, 24 Apr 2026 | €91.0b | €67.9b | -€888,574,947.11 | 17.9x | -102.4x | 1.3x |
| Sun, 22 Mar 2026 | €85.8b | €67.9b | -€900,282,969.24 | 18.2x | -95.3x | 1.3x |
| Tue, 17 Feb 2026 | €102.5b | €68.3b | €2.9b | 17.8x | 35.7x | 1.5x |
| Thu, 15 Jan 2026 | €98.9b | €68.3b | €2.9b | 18.2x | 34.5x | 1.4x |
| Sat, 13 Dec 2025 | €90.0b | €68.3b | €2.9b | 17.3x | 31.4x | 1.3x |
| Mon, 10 Nov 2025 | €76.2b | €68.8b | -€439,178,348.11 | 18x | -173.5x | 1.1x |
| Wed, 08 Oct 2025 | €82.2b | €68.8b | -€439,026,151.90 | 18.9x | -187.1x | 1.2x |
| Fri, 05 Sep 2025 | €78.3b | €68.9b | -€406,163,992.75 | 17.1x | -192.8x | 1.1x |
| Sun, 03 Aug 2025 | €77.3b | €69.4b | -€289,957,212.43 | 17.1x | -266.6x | 1.1x |
| Tue, 01 Jul 2025 | €75.4b | €69.4b | -€283,071,598.00 | 17.5x | -266.3x | 1.1x |
| Thu, 29 May 2025 | €76.9b | €69.4b | -€209,825,848.00 | 18x | -366.6x | 1.1x |
| Sat, 26 Apr 2025 | €77.9b | €69.3b | €463.1m | 18.6x | 168.2x | 1.1x |
| Mon, 24 Mar 2025 | €83.6b | €69.2b | €436.0m | 20.6x | 191.8x | 1.2x |
| Wed, 19 Feb 2025 | €83.2b | €69.2b | €2.0b | 22x | 41x | 1.2x |
| Fri, 17 Jan 2025 | €85.5b | €69.2b | €2.0b | 23.1x | 42.5x | 1.2x |
| Sun, 15 Dec 2024 | €83.4b | €69.2b | €2.0b | 22.4x | 41.1x | 1.2x |
| Tue, 12 Nov 2024 | €92.5b | €69.4b | €1.6b | 20.7x | 59.3x | 1.3x |
| Thu, 10 Oct 2024 | €96.7b | €69.3b | €1.5b | 21.1x | 65.8x | 1.4x |
| Sat, 07 Sep 2024 | €104.0b | €69.3b | €1.5b | 24.5x | 70.6x | 1.5x |
| Mon, 05 Aug 2024 | €100.4b | €69.2b | -€399,627,757.00 | 30x | -251.1x | 1.4x |
| Wed, 03 Jul 2024 | €94.3b | €69.2b | -€303,627,757.00 | 29.1x | -310.7x | 1.4x |
| Fri, 31 May 2024 | €101.7b | €69.2b | -€308,637,180.00 | 20.6x | -329.7x | 1.5x |
| Sun, 28 Apr 2024 | €95.2b | €70.0b | -€34,208,180.00 | 20.6x | -2782.2x | 1.4x |
| Tue, 26 Mar 2024 | €98.1b | €70.0b | €6.5m | 18.4x | 15108.5x | 1.4x |
| Thu, 22 Feb 2024 | €97.8b | €70.6b | -€650,504,143.00 | 19.1x | -150.4x | 1.4x |
| Sat, 20 Jan 2024 | €98.0b | €70.6b | -€650,504,143.00 | 20.4x | -150.7x | 1.4x |
| Mon, 18 Dec 2023 | €95.1b | €70.6b | -€650,606,256.00 | 18.6x | -146.1x | 1.3x |
| Wed, 15 Nov 2023 | €109.3b | €70.6b | -€625,796,256.00 | 16.8x | -174.7x | 1.5x |
| Fri, 13 Oct 2023 | €113.6b | €72.1b | €4.7b | 18.8x | 24.3x | 1.6x |
| Sun, 10 Sep 2023 | €123.8b | €72.1b | €4.7b | 21.6x | 26.6x | 1.7x |
| Tue, 08 Aug 2023 | €124.0b | €73.9b | €6.3b | 17.3x | 19.7x | 1.7x |
| Thu, 06 Jul 2023 | €117.3b | €74.1b | €6.5b | 18.3x | 18.2x | 1.6x |
| Sat, 03 Jun 2023 | €127.5b | €74.1b | €6.4b | 22.4x | 19.9x | 1.7x |
Price to Earnings Ratio
19.9x
Current Industry PE
- Investors are optimistic on the German Pharmaceuticals industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 190x which is higher than its 3-year average PE of 127x.
- The industry is trading close to its 3-year average PS ratio of 1.4x.
Past Earnings Growth
- The earnings for companies in the Pharmaceuticals industry have declined 57% per year over the last three years,
- Revenues have also declined 3.1% 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 industry?
| DE Market | 2.85% | |
| Healthcare | 1.82% | |
| Pharma | 2.95% | |
| Pharma | 2.95% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| MRK Merck KGaA | €128.35 | 6.6% +€3.5b | 9.7% | PE22x | |
| HIGH Cantourage Group | €6.10 | 1.3% +€997.6k | 3.4% | PE601.5x | |
| 27N0 Cannovum Cannabis | €0.40 | 9.5% +€80.9k | 99.0% | n/a |