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German (DAX) Aerospace & Defense Industry Analysis

UpdatedSep 26, 2025
DataAggregated Company Financials
Companies6
  • 7D3.7%
  • 3M9.9%
  • 1Y196.8%
  • YTD148.5%

In the last week, the Aerospace & Defense industry is up 3.7%, with all of the companies up. In the last 12 months, the industry was up 197%. Earnings are forecast to grow by 29% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 26 Sep 2025€124.9b€22.9b€1.8b120.3x68.9x5.5x
Sun, 24 Aug 2025€107.1b€22.8b€1.8b99.5x59x4.7x
Tue, 22 Jul 2025€119.0b€22.2b€1.7b113.5x70.7x5.4x
Thu, 19 Jun 2025€111.9b€22.2b€1.7b105.4x66.5x5x
Sat, 17 May 2025€106.8b€22.2b€1.7b92.6x63.4x4.8x
Mon, 14 Apr 2025€82.7b€20.9b€1.6b44.6x52.8x4x
Wed, 12 Mar 2025€76.6b€20.0b€1.5b28.5x50.4x3.8x
Fri, 07 Feb 2025€54.1b€19.4b€1.5b24.9x36.3x2.8x
Sun, 05 Jan 2025€49.0b€19.4b€1.5b24.1x32.9x2.5x
Tue, 03 Dec 2024€50.1b€19.4b€1.5b24.3x33.6x2.6x
Thu, 31 Oct 2024€42.4b€18.6b€1.5b23.2x28.5x2.3x
Sat, 28 Sep 2024€40.6b€17.3b€706.1m26.1x57.5x2.3x
Mon, 26 Aug 2024€42.8b€17.3b€707.4m28.3x60.5x2.5x
Wed, 24 Jul 2024€40.3b€16.2b€612.4m30.1x65.8x2.5x
Fri, 21 Jun 2024€39.1b€16.2b€612.4m29.4x63.8x2.4x
Sun, 19 May 2024€40.3b€16.2b€612.4m28.9x65.8x2.5x
Tue, 16 Apr 2024€41.6b€15.8b€503.4m35.8x82.7x2.6x
Thu, 14 Mar 2024€35.5b€15.5b€445.1m33.6x79.8x2.3x
Sat, 10 Feb 2024€31.1b€15.3b€349.1m28.5x89.1x2x
Mon, 08 Jan 2024€28.0b€15.3b€349.1m27x80.2x1.8x
Wed, 06 Dec 2023€26.1b€15.3b€349.1m25.7x74.8x1.7x
Fri, 03 Nov 2023€25.7b€14.9b€328.6m24x78.2x1.7x
Sun, 01 Oct 2023€24.0b€15.7b€988.6m22.6x24.3x1.5x
Tue, 29 Aug 2023€26.4b€15.7b€988.1m23.1x26.7x1.7x
Thu, 27 Jul 2023€26.6b€15.0b€849.1m23.6x31.4x1.8x
Sat, 24 Jun 2023€28.0b€15.0b€849.1m23.9x33x1.9x
Mon, 22 May 2023€28.2b€15.0b€849.1m24.5x33.2x1.9x
Wed, 19 Apr 2023€29.7b€14.8b€860.6m25.4x34.5x2x
Fri, 17 Mar 2023€27.3b€14.3b€781.2m27.9x35x1.9x
Sun, 12 Feb 2023€25.9b€14.0b€689.9m26.2x37.5x1.9x
Tue, 10 Jan 2023€24.4b€14.0b€689.9m24.3x35.3x1.7x
Thu, 08 Dec 2022€22.3b€14.0b€689.9m23.8x32.4x1.6x
Sat, 05 Nov 2022€19.8b€13.4b€696.5m22.6x28.5x1.5x
Mon, 03 Oct 2022€18.2b€13.4b€696.5m20.8x26.1x1.4x
Price to Earnings Ratio

26.1x


Total Market Cap: €18.2bTotal Earnings: €696.5mTotal Revenue: €13.4bTotal Market Cap vs Earnings and Revenue0%0%0%
German Aerospace & Defense Industry Price to Earnings3Y Average 50.9x202320242025
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 68.9x which is higher than its 3-year average PE of 50.9x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 5.5x.
Past Earnings Growth
  • The earnings for companies in the Aerospace & Defense industry have grown 38% per year over the last three years.
  • Revenues for these companies have grown 20% 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 Market-1.06%
Industrials-0.33%
Aerospace & Defense3.67%
Aerospace and Defense3.67%
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
RHM Rheinmetall€1.98k3.1%
+€2.7b		308.5%PE107.4x
HAG Hensoldt€103.8010.3%
+€1.1b		263.4%PE133.2x
OHB OHB€80.8024.3%
+€302.6m		83.6%PE268x
MTX MTU Aero Engines€364.601.2%
+€225.9m		28.1%PE23x
FQT Frequentis€62.006.9%
+€53.1m		131.3%PE41.2x

Latest News

HAG
€103.80
Hensoldt
7D
10.3%
1Y
263.4%

Integration Of ESG May Dilute Margins, Yet Software-Defined Defense Will Unlock New Opportunities

Analysts raised Hensoldt’s price target to €96.77, citing heightened confidence in future defense spending, improved sector positioning, and strong demand for its technologies, despite some neutral stances within the sector. Analyst Commentary Bullish analysts increased price targets, citing expectations of significantly higher defense spending by Germany, potentially up to 3.5% of GDP.
OHB
€80.80
OHB
7D
24.3%
1Y
83.6%
FQT
€62.00
Frequentis
7D
6.9%
1Y
131.3%
RHM
€1,978.50
Rheinmetall
7D
3.1%
1Y
308.5%

Rising NATO And European Budgets Will Drive Production Integration

Analysts have raised their price target for Rheinmetall to €2124, citing the company's leading role in Europe's historic defense rearmament, growing order visibility, and accelerated organic sales growth forecasts through 2030. Analyst Commentary Bullish analysts highlight Rheinmetall's position at the forefront of a historic rearmament cycle in Europe, marking the largest defense build-up since the Cold War.
MTX
€364.60
MTU Aero Engines
7D
1.2%
1Y
28.1%

Robust Global Air Travel Demand Will Expand Engine Programs

Analyst sentiment on MTU Aero Engines has turned more balanced as optimism regarding aftermarket demand and operational performance is tempered by valuation and macroeconomic caution, resulting in a slight reduction in the consensus price target from €394.75 to €389.44. Analyst Commentary Bullish analysts have raised price targets citing improved earnings visibility and stronger than expected operational performance.
Y73
€2.68
Scandinavian Astor Group
7D
12.9%
1Y
183.8%