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German (DAX) Industrials Sector Analysis

UpdatedMar 01, 2026
DataAggregated Company Financials
Companies156
  • 7D-0.6%
  • 3M18.4%
  • 1Y39.7%
  • YTD11.1%

Over the last 7 days, the Industrials industry has remained flat, although notably Nordex gained 27%. As for the the longer term, the industry is up 40% over the past 12 months. Looking forward, earnings are forecast to grow by 18% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 01 Mar 2026€769.1b€558.1b€27.1b21.3x28.4x1.4x
Tue, 27 Jan 2026€740.9b€555.9b€26.1b21.1x28.4x1.3x
Thu, 25 Dec 2025€680.2b€556.2b€26.1b21.2x26x1.2x
Sat, 22 Nov 2025€626.5b€556.2b€26.3b18.4x23.8x1.1x
Mon, 20 Oct 2025€643.0b€552.6b€27.5b19.4x23.4x1.2x
Wed, 17 Sep 2025€638.1b€552.7b€27.5b18.7x23.2x1.2x
Fri, 15 Aug 2025€647.5b€552.7b€27.6b20.2x23.5x1.2x
Sun, 13 Jul 2025€625.5b€572.2b€26.9b18.1x23.2x1.1x
Tue, 10 Jun 2025€612.0b€573.5b€26.9b16.9x22.8x1.1x
Thu, 08 May 2025€560.3b€566.3b€25.8b16x21.7x1x
Sat, 05 Apr 2025€487.8b€566.1b€26.4b16.2x18.4x0.9x
Mon, 03 Mar 2025€537.1b€564.1b€25.5b16.5x21.1x1x
Wed, 29 Jan 2025€482.5b€558.6b€27.5b15.9x17.5x0.9x
Fri, 27 Dec 2024€465.0b€559.1b€27.4b14.9x16.9x0.8x
Sun, 24 Nov 2024€454.1b€559.0b€27.5b14x16.5x0.8x
Tue, 22 Oct 2024€454.8b€554.4b€26.2b14.8x17.4x0.8x
Thu, 19 Sep 2024€420.8b€554.8b€26.2b14.8x16.1x0.8x
Sat, 17 Aug 2024€416.1b€555.1b€26.2b15x15.9x0.7x
Mon, 15 Jul 2024€444.1b€549.6b€23.8b15.3x18.7x0.8x
Wed, 12 Jun 2024€433.5b€549.6b€23.6b15.7x18.3x0.8x
Fri, 10 May 2024€452.5b€551.3b€26.7b15.9x16.9x0.8x
Sun, 07 Apr 2024€445.3b€551.1b€27.1b14.8x16.4x0.8x
Tue, 05 Mar 2024€437.3b€559.4b€30.7b14x14.2x0.8x
Thu, 01 Feb 2024€416.0b€565.0b€26.7b14.8x15.6x0.7x
Sat, 30 Dec 2023€416.0b€565.0b€26.7b15x15.6x0.7x
Mon, 27 Nov 2023€381.7b€564.7b€26.7b14.1x14.3x0.7x
Wed, 25 Oct 2023€356.1b€574.8b€33.7b13.2x10.6x0.6x
Fri, 22 Sep 2023€381.3b€574.7b€33.8b14.2x11.3x0.7x
Sun, 20 Aug 2023€389.1b€574.1b€33.8b14.2x11.5x0.7x
Tue, 18 Jul 2023€418.9b€575.6b€36.5b14.4x11.5x0.7x
Thu, 15 Jun 2023€419.0b€573.0b€36.6b15x11.4x0.7x
Sat, 13 May 2023€411.4b€567.1b€36.0b15.1x11.4x0.7x
Mon, 10 Apr 2023€417.8b€560.4b€36.5b15.7x11.4x0.7x
Wed, 08 Mar 2023€429.6b€550.0b€35.6b15.3x12.1x0.8x
Price to Earnings Ratio

12.1x


Total Market Cap: €429.6bTotal Earnings: €35.6bTotal Revenue: €550.0bTotal Market Cap vs Earnings and Revenue0%0%0%
German Industrials Sector Price to Earnings3Y Average 17.8x202420252026
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 28.4x which is higher than its 3-year average PE of 17.8x.
  • The 3-year average PS ratio of 0.89x 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 8.7% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

DE Market0.059%
Industrials-0.62%
Professional Services8.95%
Marine and Shipping5.45%
Construction1.80%
Electrical1.28%
Building1.05%
Industrials0.87%
Logistics0.30%
Infrastructure0.026%
Airlines0%0
Commercial Services-1.91%
Machinery-2.02%
Transportation-2.44%
Trade Distributors-2.88%
Aerospace & Defense-6.13%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 59.8x.
    • Analysts are expecting annual earnings growth of 27.2%, which is lower than the prior year's growth of 45.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Professional Services industry, expecting annual earnings growth of 79% over the next 5 years.
  • This is better than its past earnings growth rate of 18% per year.
  • In contrast, the Marine and Shipping industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NDX1 Nordex€43.1226.9%
+€2.2b		230.4%PE37.1x
SIE Siemens€247.400.9%
+€1.7b		11.8%PE24.1x
HLAG Hapag-Lloyd€130.705.5%
+€1.2b		-11.4%PE14.9x
ENR Siemens Energy€166.450.7%
+€1.0b		203.0%PE75.2x
HOT HOCHTIEF€412.602.0%
+€601.9m		174.2%PE34.4x

Latest News

KGX
€58.00
KION GROUP
7D
-11.5%
1Y
49.9%
HLAG
€130.70
Hapag-Lloyd
7D
5.5%
1Y
-11.4%
SIE
€247.40
Siemens
7D
0.9%
1Y
11.8%
HAG
€74.40
Hensoldt
7D
-11.6%
1Y
42.1%
NDX1
€43.12
Nordex
7D
26.9%
1Y
230.4%
8TRA
€36.04
Traton
7D
-2.7%
1Y
-0.7%

8TRA: Weak 2026 Truck Demand Will Pressure Earnings Power And Rating

Analysts have raised their average price target on Traton by around €0.80, reflecting slightly higher assumed revenue growth, a modestly lower discount rate, and broadly unchanged margin and future P/E expectations. Analyst Commentary Recent research opinions on Traton are mixed, with some analysts turning more positive on the share price potential while others highlight execution risks and end market headwinds.
R3NK
€56.93
RENK Group
7D
-6.3%
1Y
90.6%

R3NK: Higher Discount Rate And Lower P/E Will Still Support Upside

Analysts have trimmed their fair value estimate for RENK Group from €84.00 to €76.00 as small shifts in the discount rate, revenue growth assumptions, profit margin expectations and future P/E inputs feed through to a lower overall price target. Valuation Changes Fair Value: Trimmed from €84.00 to €76.00, reflecting a lower overall valuation level in the model.
HOT
€412.60
HOCHTIEF
7D
2.0%
1Y
174.2%
DHL
€50.10
Deutsche Post
7D
0.3%
1Y
32.9%

DHL: Cost Execution And Seasonal Trends Will Support Fairly Valued Shares

Analysts have nudged their fair value estimate for Deutsche Post slightly higher from about €45.24 to roughly €45.79. This reflects updated views on discount rates, modest revenue growth assumptions, and a broadly steady profit margin outlook, informed in part by recent mixed research that includes cost execution improvements and peak season trends.
KBX
€111.50
Knorr-Bremse
7D
-3.4%
1Y
33.5%

KBX: Updated 2026 Guidance And Long-Term P/E Assumptions Will Frame Balanced Outlook

Analysts have raised their price target on Knorr-Bremse from €110 to €125, citing updated assumptions for revenue growth, profit margins and long-term P/E, even as some recent research, such as the DZ Bank downgrade, reflects a more cautious stance. Analyst Commentary Bullish analysts are framing the higher €125 price target as a sign that they see the current valuation as leaving room for upside if management delivers on its plans.
MTX
€365.40
MTU Aero Engines
7D
-9.1%
1Y
9.4%

MTX: Higher Long Term Revenue Assumptions Will Support Future Rerating Potential

Analysts have kept their price target for MTU Aero Engines steady at €515.00, citing slightly higher assumed revenue growth, a stable profit margin outlook, and a lower future P/E multiple as the key inputs behind the unchanged view. Valuation Changes Fair Value: Maintained at €515.00, indicating no change in the central valuation outcome.
ENR
€166.45
Siemens Energy
7D
0.7%
1Y
203.0%
DEZ
€12.50
DEUTZ
7D
8.4%
1Y
139.7%

DEZ: Future Earnings Multiple Will Likely Remain Too Weak For €10 Fair Value

Analysts have modestly adjusted their price target for DEUTZ to €10.00. This reflects updated assumptions around discount rate, revenue growth, profit margin and future P/E, even though their view of fair value in euro terms remains unchanged.
DTG
€43.03
Daimler Truck Holding
7D
0.7%
1Y
2.2%

DTG: Incremental Forecast Upgrades Will Still Leave Rich Multiple Exposed

Analysts have nudged their price targets for Daimler Truck higher, with recent increases such as Goldman Sachs moving to €37 and Morgan Stanley to €47. These changes support a small upward shift in our fair value estimate and slightly stronger assumptions for revenue growth, profit margins and future P/E.
RHM
€1,663.50
Rheinmetall
7D
-4.4%
1Y
65.3%

RHM: Space Data Contract Will Support Future Margins And Earnings

Rheinmetall's analyst price targets have shifted lower by around €100 as analysts factor in updated growth expectations, a slightly higher discount rate, and modestly adjusted assumptions for margins and future P/E multiples. Analyst Commentary Recent Street research on Rheinmetall reflects a mix of recalibrated targets and ongoing conviction, as analysts refresh their models for growth, margins, and valuation multiples.
OHB
€218.00
OHB
7D
-14.5%
1Y
240.6%