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German (DAX) Aerospace & Defense Industry Analysis

UpdatedNov 14, 2025
DataAggregated Company Financials
Companies7
  • 7D1.5%
  • 3M5.1%
  • 1Y135.6%
  • YTD111.9%

Over the last 7 days, the Aerospace & Defense industry has risen 1.5%, driven by gains from Rheinmetall of 2.5%. In the last 12 months, the industry was up 136%. Looking forward, earnings are forecast to grow by 30% annually.

Industry Valuation and Performance

Has the German Aerospace & Defense Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 14 Nov 2025€117.4b€23.5b€1.9b85.5x61.5x5x
Sun, 12 Oct 2025€122.7b€22.9b€1.8b118.5x67.7x5.4x
Tue, 09 Sep 2025€114.7b€22.9b€1.8b108x63.2x5x
Thu, 07 Aug 2025€115.3b€22.6b€1.8b109.2x63.9x5.1x
Sat, 05 Jul 2025€113.8b€22.2b€1.7b109.1x67.6x5.1x
Mon, 02 Jun 2025€117.6b€22.2b€1.7b108.9x69.8x5.3x
Wed, 30 Apr 2025€88.9b€20.9b€1.6b70.9x56.7x4.2x
Fri, 28 Mar 2025€86.5b€20.9b€1.6b50.1x55.4x4.1x
Sun, 23 Feb 2025€62.2b€19.8b€1.4b25.6x43.7x3.1x
Tue, 21 Jan 2025€53.5b€19.4b€1.5b25.2x35.9x2.8x
Thu, 19 Dec 2024€49.2b€19.4b€1.5b24.5x33x2.5x
Sat, 16 Nov 2024€46.7b€19.5b€1.5b23.3x31.3x2.4x
Mon, 14 Oct 2024€40.5b€17.3b€706.1m25.7x57.3x2.3x
Wed, 11 Sep 2024€41.6b€17.3b€706.1m27.2x58.9x2.4x
Fri, 09 Aug 2024€41.3b€16.5b€637.4m29.6x64.8x2.5x
Sun, 07 Jul 2024€40.4b€16.2b€612.4m29.9x65.9x2.5x
Tue, 04 Jun 2024€41.1b€16.2b€612.4m30.9x67.2x2.5x
Thu, 02 May 2024€40.3b€15.9b€547.6m29.2x73.5x2.5x
Sat, 30 Mar 2024€41.7b€15.8b€503.1m34.8x82.8x2.6x
Mon, 26 Feb 2024€34.3b€15.3b€349.1m33.1x98.4x2.2x
Wed, 24 Jan 2024€30.2b€15.3b€349.1m27.9x86.6x2x
Fri, 22 Dec 2023€26.9b€15.3b€349.1m26x77.1x1.8x
Sun, 19 Nov 2023€26.1b€15.3b€349.1m25.4x74.9x1.7x
Tue, 17 Oct 2023€25.0b€15.7b€988.6m22.5x25.3x1.6x
Thu, 14 Sep 2023€24.8b€15.7b€988.1m22.6x25.1x1.6x
Sat, 12 Aug 2023€26.9b€15.6b€985.7m23.9x27.3x1.7x
Mon, 10 Jul 2023€26.7b€15.0b€849.1m22.6x31.5x1.8x
Wed, 07 Jun 2023€26.2b€15.0b€849.1m22x30.9x1.7x
Fri, 05 May 2023€28.1b€14.8b€849.1m24.6x33.1x1.9x
Sun, 02 Apr 2023€28.8b€14.8b€857.7m26.2x33.6x2x
Tue, 28 Feb 2023€27.4b€14.3b€781.2m27.6x35.1x1.9x
Thu, 26 Jan 2023€25.4b€14.0b€689.9m25x36.7x1.8x
Sat, 24 Dec 2022€22.3b€14.0b€689.9m23.9x32.4x1.6x
Mon, 21 Nov 2022€21.4b€14.0b€690.2m22.4x31x1.5x
Price to Earnings Ratio

31x


Total Market Cap: €21.4bTotal Earnings: €690.2mTotal Revenue: €14.0bTotal Market Cap vs Earnings and Revenue0%0%0%
German Aerospace & Defense Industry Price to Earnings3Y Average 52.6x202320242025
Current Industry PE
  • Investors are optimistic on the German Aerospace & Defense industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 61.3x which is higher than its 3-year average PE of 52.6x.
  • The 3-year average PS ratio of 2.8x is lower than the industry's current PS ratio of 5.0x.
Past Earnings Growth
  • The earnings for companies in the Aerospace & Defense industry have grown 40% per year over the last three years.
  • Revenues for these companies have grown 19% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

DE Market1.43%
Industrials-1.02%
Aerospace & Defense1.46%
Aerospace and Defense1.46%
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?

CompanyLast Price7D1YValuation
OHB OHB€108.008.7%
+€164.7m		131.8%PE358.2x

Latest News

RHM
€1,727.00
Rheinmetall
7D
-1.3%
1Y
199.9%

Rheinmetall's (ETR:RHM) Shareholders May Want To Dig Deeper Than Statutory Profit

Nov 14
Rheinmetall's (ETR:RHM) Shareholders May Want To Dig Deeper Than Statutory Profit
HAG
€84.15
Hensoldt
7D
-8.2%
1Y
144.9%

Hensoldt's (ETR:HAG) Solid Profits Have Weak Fundamentals

Nov 14
Hensoldt's (ETR:HAG) Solid Profits Have Weak Fundamentals
Y73
€2.70
Scandinavian Astor Group
7D
-2.5%
1Y
237.0%

Is Scandinavian Astor Group (FRA:Y73) Using Too Much Debt?

Nov 11
Is Scandinavian Astor Group (FRA:Y73) Using Too Much Debt?
MTX
€359.00
MTU Aero Engines
7D
-0.3%
1Y
16.8%

MTX: Strong Aftermarket Momentum Will Drive Continued Revenue Momentum This Year

MTU Aero Engines' analyst price target saw a modest increase to €412.35. Analysts cited steady revenue growth and robust aftermarket performance as key drivers behind the upward revision.
FQT
€67.40
Frequentis
7D
-6.6%
1Y
183.2%

FQT: Share Buyback Program Will Support Steady Outlook and Moderate Risk

Analysts have maintained their price target for Frequentis at €67.49, stating that small improvements in discount rates and profitability assumptions have balanced each other out, resulting in an unchanged valuation. What's in the News Frequentis AG will commence a share repurchase program on September 22, 2025, as authorized by shareholders during the June 2024 Annual General Meeting.
OHB
€108.00
OHB
7D
8.7%
1Y
131.8%
TKMS
€70.55
TKMS & Co KGaA
7D
-0.3%
1Y
n/a

European submarines are too exposed

About the author I am an investor from Central Europe, focusing on the European defense industry, suppliers of parts, chemicals, energy, construction, and distribution networks; in short, I deal with everything related to the rearmament of the European part of NATO. Why pay attention to European defense companies?