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German (DAX) Industrials Sector Analysis

UpdatedJul 22, 2026
DataAggregated Company Financials
Companies157
  • 7D0.3%
  • 3M-1.2%
  • 1Y16.8%
  • YTD7.7%

Over the last 7 days, the Industrials industry has remained flat. The past year has been better, since the industry has gained 13% in that time. Earnings are forecast to grow by 19% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Jul 2026€747.3b€541.8b€24.9b20.4x30x1.4x
Fri, 19 Jun 2026€771.0b€542.9b€24.7b20.8x31.2x1.4x
Sun, 17 May 2026€744.3b€543.3b€24.7b19.3x30.1x1.4x
Tue, 14 Apr 2026€742.2b€552.0b€25.9b19.7x28.7x1.3x
Thu, 12 Mar 2026€722.7b€558.0b€26.9b20.1x26.9x1.3x
Sat, 07 Feb 2026€751.2b€555.9b€26.1b21.5x28.8x1.4x
Mon, 05 Jan 2026€694.0b€555.9b€26.1b21.3x26.6x1.2x
Wed, 03 Dec 2025€655.0b€556.0b€26.2b20.6x25x1.2x
Fri, 31 Oct 2025€666.1b€551.4b€27.1b19.7x24.6x1.2x
Sun, 28 Sep 2025€650.8b€552.7b€27.5b19.7x23.6x1.2x
Tue, 26 Aug 2025€640.4b€552.7b€27.6b20.4x23.2x1.2x
Thu, 24 Jul 2025€636.4b€550.4b€27.5b18.3x23.2x1.2x
Sat, 21 Jun 2025€594.4b€572.8b€26.9b17x22.1x1x
Mon, 19 May 2025€595.8b€573.0b€26.8b16.8x22.2x1x
Wed, 16 Apr 2025€516.0b€566.1b€26.5b15.5x19.5x0.9x
Fri, 14 Mar 2025€563.2b€567.2b€26.1b16.1x21.6x1x
Sun, 09 Feb 2025€500.6b€558.6b€27.5b16.2x18.2x0.9x
Tue, 07 Jan 2025€475.1b€558.6b€27.5b15.2x17.3x0.9x
Thu, 05 Dec 2024€472.0b€559.0b€27.5b14.1x17.1x0.8x
Sat, 02 Nov 2024€448.5b€556.8b€26.9b14.5x16.7x0.8x
Mon, 30 Sep 2024€450.4b€554.4b€26.1b15.6x17.2x0.8x
Wed, 28 Aug 2024€419.5b€555.2b€26.2b15.1x16x0.8x
Fri, 26 Jul 2024€420.6b€550.7b€23.9b14.4x17.6x0.8x
Sun, 23 Jun 2024€423.5b€549.7b€23.6b15.1x17.9x0.8x
Tue, 21 May 2024€441.3b€549.5b€23.7b15.6x18.7x0.8x
Thu, 18 Apr 2024€438.4b€551.2b€27.1b15x16.2x0.8x
Sat, 16 Mar 2024€437.2b€550.5b€27.0b14.8x16.2x0.8x
Mon, 12 Feb 2024€403.7b€558.2b€29.7b14.2x13.6x0.7x
Wed, 10 Jan 2024€409.1b€565.0b€26.7b14.9x15.3x0.7x
Fri, 08 Dec 2023€397.2b€564.8b€26.7b14.1x14.9x0.7x
Sun, 05 Nov 2023€355.1b€576.0b€34.2b14.1x10.4x0.6x
Tue, 03 Oct 2023€378.1b€574.3b€33.8b13.9x11.2x0.7x
Thu, 31 Aug 2023€394.2b€574.4b€33.7b14.7x11.7x0.7x
Sat, 29 Jul 2023€417.1b€578.5b€37.1b15x11.3x0.7x
Price to Earnings Ratio

11.3x


Total Market Cap: €417.1bTotal Earnings: €37.1bTotal Revenue: €578.5bTotal Market Cap vs Earnings and Revenue0%0%0%
German Industrials Sector Price to Earnings3Y Average 20.1x202420252026
Current Industry PE
  • Investors are optimistic on the German Industrials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 29.5x which is higher than its 3-year average PE of 20.1x.
  • The 3-year average PS ratio of 0.97x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have declined 12% per year over the last three years,
  • Revenues have also declined 2.2% 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 Industrials sector?

DE Market-0.49%
Industrials0.32%
Commercial Services3.10%
Professional Services3.02%
Electrical1.81%
Machinery1.66%
Transportation1.59%
Building0.39%
Construction0.097%
Logistics-0.16%
Aerospace & Defense-0.18%
Industrials-0.85%
Marine and Shipping-0.99%
Infrastructure-1.91%
Airlines-1.97%
Trade Distributors-2.34%
Industry PE
  • Investors are most optimistic about the Marine and Shipping industry which is trading above its 3-year average PE ratio of 17.3x.
    • Analysts are expecting annual earnings growth of 29.0%, which is higher than its past year's earnings decline of 84.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Professional Services industry, expecting annual earnings growth of 88% over the next 5 years.
  • This is better than its past earnings decline of 6.7% per year.
  • In contrast, the Infrastructure industry is expected to see its earnings grow by 4.4% 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
ENR Siemens Energy€158.142.6%
+€3.4b		73.7%PE60.8x
8TRA Traton€36.424.5%
+€780.0m		20.0%PE13.9x
RHM Rheinmetall€995.401.6%
+€721.4m		-43.2%PE44.1x
HAG Hensoldt€76.184.1%
+€348.8m		-24.0%PE88x
DTG Daimler Truck Holding€43.241.0%
+€310.1m		4.8%PE28x

Latest News

SIE
€270.45
Siemens
7D
-0.9%
1Y
22.7%
LHA
€8.95
Deutsche Lufthansa
7D
-2.0%
1Y
19.7%
FQT
€70.80
Frequentis
7D
14.2%
1Y
28.7%
S92
€60.50
SMA Solar Technology
7D
-7.2%
1Y
198.3%
ENR
€158.14
Siemens Energy
7D
2.6%
1Y
73.7%
HAG
€76.18
Hensoldt
7D
4.1%
1Y
-24.0%
Narrative Update • Jul 16

HAG: Team Gen 6 Alliance Participation Will Support Future Rerating

Analysts now see fair value for Hensoldt at €105, a €5 trim from the prior €110. This reflects updated assumptions on revenue growth, profit margins, the discount rate and future P/E multiples, alongside recent price target adjustments around €80 in Street research.
HLAG
€125.80
Hapag-Lloyd
7D
-1.0%
1Y
-2.4%
NDX1
€41.54
Nordex
7D
1.8%
1Y
110.0%
Narrative Update • Jul 14

NDX1: Order Rebound And Q2 Execution Strength Will Drive Re Rating

Nordex's analyst fair value has been revised from €59.00 to €61.00. Analysts point to a series of recent price target increases, as well as expectations for stronger Q2 execution, higher delivery volumes and a rebound in order intake as key drivers behind the updated view.
KBX
€102.20
Knorr-Bremse
7D
1.9%
1Y
18.7%
Narrative Update • Jul 14

KBX: Rail And Truck Cycles Will Support Future Margin Upside

The updated analyst price target for Knorr-Bremse moves modestly higher to about €116.53 from about €113.67. This reflects analysts' recent target raises that are linked to adjusted fair value estimates, a slightly lower discount rate, steadier revenue growth assumptions, a marginally higher profit margin outlook, and a reduced future P/E expectation.
DTG
€43.24
Daimler Truck Holding
7D
1.0%
1Y
4.8%
Narrative Update • Jul 13

DTG: Future Upside Will Rely On North America Earnings Execution

Analysts have raised their fair value estimate for Daimler Truck Holding to €55 from €53, citing stronger assumed revenue growth, slightly higher profit margins, and a lower future P/E multiple in response to recent price target increases and rating upgrades across the Street. Analyst Commentary Recent research on Daimler Truck Holding points to a cluster of upbeat views, with several bullish analysts lifting price targets and highlighting what they see as attractive risk reward at current levels.
RHM
€995.40
Rheinmetall
7D
1.6%
1Y
-43.2%
Narrative Update • Jul 13

RHM: Defence Contract Pipeline And Order Backlog Will Support Future Returns

Rheinmetall's analyst fair value estimate has been trimmed from about €1,889 to €1,721. This reflects a broad reset in price targets as analysts adjust their models for slightly lower growth, profit assumptions and valuation multiples following recent target cuts across JPMorgan, Deutsche Bank, Barclays, Morgan Stanley, Oddo BHF, Citi and Berenberg.
8TRA
€36.42
Traton
7D
4.5%
1Y
20.0%
Narrative Update • Jul 10

8TRA: Margin Upside And Cash Generation Will Support Higher Future Earnings Multiples

Analysts have nudged their price expectations for Traton higher, reflected in a modest uptick in the fair value estimate alongside recent increases in Street targets. Barclays moved to €40 and Citi lifted its target by €4.70, supported by slightly revised assumptions for discount rate, revenue growth, profit margin, and future P/E.
OHB
€246.00
OHB
7D
-7.2%
1Y
260.7%
Narrative Update • Jul 10

OHB: Capital Raise And Defense Contracts Will Support Future Upside Potential

Analysts have raised their price target for OHB from €320 to €340, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E as the main drivers of this change. What’s in the News for OHB OHB SE completed a follow on equity offering of €2.2905 million, issuing 7,635 ordinary bearer shares at €300 per share via a rights offering under Rule 144A.
MTX
€336.00
MTU Aero Engines
7D
-4.2%
1Y
-11.6%
Narrative Update • Jul 08

MTX: Execution Risks And Defence Alliance Prospects Will Shape Future Returns

The analyst price target for MTU Aero Engines has been reduced from about €419 to roughly €386, as analysts factor in a higher discount rate, slightly softer revenue growth and profit margin assumptions, and a modestly higher future P/E multiple. Analyst Commentary Recent Street research on MTU Aero Engines reflects a mixed view, with some analysts adjusting price targets and ratings while others initiate coverage with a more positive stance.
BNR
€58.14
Brenntag
7D
-2.5%
1Y
4.1%
Narrative Update • Jun 22

BNR: Easing Pricing Tailwinds Will Pressure Margins And Limit Upside Potential

The analyst price target for Brenntag has been reduced by €10 to €57. Analysts are factoring in Brenntag's exposure to easing pricing tailwinds in certain regions, while also noting relatively resilient demand and a steadier pricing backdrop compared with some peers.
FRA
€66.10
Fraport
7D
-3.2%
1Y
0.5%
Narrative Update • Jun 15

FRA: Future Upside Will Likely Be Limited By Terminal 2 Refurbishment Execution Risks

Analysts have trimmed their average price targets on Fraport, with cuts such as Citi moving from €91 to €86 and UBS from €67 to €65. These changes reflect updated views on valuation, profit margins and long term earnings multiples, despite broadly unchanged fair value assumptions.