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German (DAX) Aerospace & Defense Industry Analysis

UpdatedFeb 13, 2026
DataAggregated Company Financials
Companies7
  • 7D0.8%
  • 3M-1.9%
  • 1Y84.3%
  • YTD3.2%

In the last week, the Aerospace & Defense industry is flat overall, with Frequentis standing out by going down 5.9%. The past year has been better, since the industry has gained 84% in that time. As for the next few years, earnings are expected to grow by 27% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 14 Feb 2026€114.0b€25.7b€2.0b73.1x56.5x4.4x
Mon, 12 Jan 2026€127.5b€25.7b€2.0b68x63.2x5x
Wed, 10 Dec 2025€111.3b€25.7b€2.0b69x55.4x4.3x
Fri, 07 Nov 2025€115.7b€23.1b€1.9b102.6x62.3x5x
Sun, 05 Oct 2025€129.0b€22.9b€1.8b126.3x71.1x5.6x
Tue, 02 Sep 2025€113.8b€22.9b€1.8b106.8x62.8x5x
Thu, 31 Jul 2025€112.5b€22.6b€1.8b105.5x62.3x5x
Sat, 28 Jun 2025€113.1b€22.2b€1.7b106.9x67.1x5.1x
Mon, 26 May 2025€110.6b€22.2b€1.7b98.2x65.7x5x
Wed, 23 Apr 2025€86.0b€20.9b€1.6b69.8x54.9x4.1x
Fri, 21 Mar 2025€86.6b€20.9b€1.6b28.9x52.8x4.1x
Sun, 16 Feb 2025€59.9b€19.4b€1.5b25.4x40.2x3.1x
Tue, 14 Jan 2025€51.0b€19.4b€1.5b24.6x34.2x2.6x
Thu, 12 Dec 2024€49.5b€19.4b€1.5b24.5x33.2x2.6x
Sat, 09 Nov 2024€45.7b€19.5b€1.5b23.9x30x2.3x
Mon, 07 Oct 2024€42.6b€17.3b€706.1m27.3x60.3x2.5x
Wed, 04 Sep 2024€41.6b€17.3b€707.4m27.4x58.9x2.4x
Fri, 02 Aug 2024€40.7b€16.3b€599.4m29.6x67.9x2.5x
Sun, 30 Jun 2024€38.8b€16.2b€612.4m29.7x63.3x2.4x
Tue, 28 May 2024€41.4b€16.2b€612.4m30.3x67.6x2.6x
Thu, 25 Apr 2024€40.5b€16.0b€547.4m29x74x2.5x
Sat, 23 Mar 2024€39.7b€15.7b€528.1m34x75.2x2.5x
Mon, 19 Feb 2024€34.3b€15.3b€349.1m32.2x98.3x2.2x
Wed, 17 Jan 2024€29.4b€15.3b€349.1m27.5x84.2x1.9x
Fri, 15 Dec 2023€26.4b€15.3b€349.1m25.9x75.6x1.7x
Sun, 12 Nov 2023€25.7b€15.3b€349.1m25.3x73.6x1.7x
Tue, 10 Oct 2023€23.9b€15.7b€988.6m22.7x24.1x1.5x
Thu, 07 Sep 2023€26.4b€15.7b€988.1m22.9x26.7x1.7x
Sat, 05 Aug 2023€27.3b€15.6b€988.1m24.6x27.6x1.7x
Mon, 03 Jul 2023€27.9b€15.0b€849.1m23.4x32.8x1.9x
Wed, 31 May 2023€26.7b€15.0b€849.1m22.9x31.4x1.8x
Fri, 28 Apr 2023€29.0b€14.8b€860.6m25.2x33.7x2x
Sun, 26 Mar 2023€28.0b€14.8b€859.7m26x32.6x1.9x
Tue, 21 Feb 2023€27.1b€14.3b€778.9m28.2x34.8x1.9x
Price to Earnings Ratio

34.8x


Total Market Cap: €27.1bTotal Earnings: €778.9mTotal Revenue: €14.3bTotal Market Cap vs Earnings and Revenue0%0%0%
German Aerospace & Defense Industry Price to Earnings3Y Average 54.5x202420252026
Current Industry PE
  • Investors are relatively neutral on the German Aerospace & Defense industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 54.5x.
  • The 3-year average PS ratio of 3.0x is lower than the industry's current PS ratio of 4.4x.
Past Earnings Growth
  • The earnings for companies in the Aerospace & Defense industry have grown 37% per year over the last three years.
  • Revenues for these companies have grown 22% 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 Market0.87%
Industrials3.30%
Aerospace & Defense0.81%
Aerospace and Defense0.81%
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
MTX MTU Aero Engines€394.403.7%
+€747.6m		18.1%PE23.6x
HAG Hensoldt€80.803.9%
+€352.3m		98.1%PE75.3x
OHB OHB€265.005.6%
+€268.1m		287.4%PE826.1x
RHM Rheinmetall€1.61k0.3%
+€206.5m		96.9%PE85.6x
TKMS TKMS & Co KGaA€93.252.5%
+€146.1m		n/aPE70.5x

Latest News

TKMS
€93.25
TKMS & Co KGaA
7D
2.5%
1Y
n/a
Y73
€2.20
Scandinavian Astor Group
7D
0%
1Y
84.3%
FQT
€78.00
Frequentis
7D
-8.2%
1Y
169.9%

Frequentis (ETR:FQT) Has Some Way To Go To Become A Multi-Bagger

Feb 07
Frequentis (ETR:FQT) Has Some Way To Go To Become A Multi-Bagger
MTX
€394.40
MTU Aero Engines
7D
3.7%
1Y
18.1%

MTX: Cash Flow Execution Will Drive Potential Rerating From Current Levels

Narrative Update on MTU Aero Engines Analysts have lifted their fair value estimate for MTU Aero Engines from €470 to €515, citing updated assumptions for revenue growth, profit margins and future P/E, while also acknowledging recent Street research that highlights both the potential for improved cash flow and the current lack of clarity compared with some peers. Analyst Commentary Recent coverage of MTU Aero Engines has been measured, but still points to areas that bullish analysts see as constructive for the equity story.
HAG
€80.80
Hensoldt
7D
3.9%
1Y
98.1%

HAG: Back End Loaded Execution Will Likely Restrain Returns Despite Recent Pullback

Analysts have nudged their fair value estimate for Hensoldt slightly lower to €65.00, reflecting recent price target resets around €90 to €114, as well as mixed views on the timing of growth and margin improvement. Analyst Commentary Recent research on Hensoldt shows a split in sentiment, with some firms lifting ratings or initiating with optimistic views, while others are cutting targets and turning more cautious on execution and timing of growth.
RHM
€1,609.00
Rheinmetall
7D
0.3%
1Y
96.9%

RHM: Space Surveillance Contract And Mixed Sentiment Will Shape Long Term Earnings Visibility

Rheinmetall's analyst price targets have seen mixed adjustments recently, with one cut to €2,200 and another raised by €20, as analysts fine tune their views using slightly lower discount rates and modest tweaks to growth, margins and future P/E assumptions. Analyst Commentary Recent research has highlighted both incremental optimism and fresh caution around Rheinmetall, with price target changes clustering in a relatively tight range as analysts adjust assumptions on growth, margins and P/E multiples.
OHB
€265.00
OHB
7D
5.6%
1Y
287.4%