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German (DAX) Aerospace & Defense Industry Analysis

UpdatedSep 22, 2025
DataAggregated Company Financials
Companies6
  • 7D1.2%
  • 3M7.1%
  • 1Y187.9%
  • YTD140.3%

Over the last 7 days, the Aerospace & Defense industry has risen 1.2%, driven by gains from OHB of 1.2%. This means that the industry has gained 188% over the past year. Looking forward, 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
Mon, 22 Sep 2025€120.8b€22.9b€1.8b112.4x66.6x5.3x
Wed, 20 Aug 2025€104.2b€22.8b€1.8b93.8x57.4x4.6x
Fri, 18 Jul 2025€119.3b€22.2b€1.7b114.9x70.8x5.4x
Sun, 15 Jun 2025€113.3b€22.2b€1.7b107.9x67.3x5.1x
Tue, 13 May 2025€99.7b€22.2b€1.7b84x59.2x4.5x
Thu, 10 Apr 2025€80.3b€20.9b€1.6b43.6x51.2x3.8x
Sat, 08 Mar 2025€75.5b€20.0b€1.5b28.6x49.6x3.8x
Mon, 03 Feb 2025€56.6b€19.4b€1.5b25.1x38x2.9x
Wed, 01 Jan 2025€49.3b€19.4b€1.5b24.4x33.1x2.5x
Fri, 29 Nov 2024€49.3b€19.4b€1.5b23.8x33x2.5x
Sun, 27 Oct 2024€42.7b€18.6b€1.5b23.5x28.7x2.3x
Tue, 24 Sep 2024€40.7b€17.3b€706.1m26.2x57.7x2.4x
Thu, 22 Aug 2024€42.7b€17.3b€707.4m28.3x60.4x2.5x
Sat, 20 Jul 2024€40.0b€16.2b€612.4m30.1x65.3x2.5x
Mon, 17 Jun 2024€37.8b€16.2b€612.4m28.6x61.8x2.3x
Wed, 15 May 2024€41.0b€16.0b€542.1m28.9x75.7x2.6x
Fri, 12 Apr 2024€40.5b€15.8b€503.1m35.1x80.6x2.6x
Sun, 10 Mar 2024€35.8b€15.5b€445.1m33.6x80.5x2.3x
Tue, 06 Feb 2024€30.3b€15.3b€349.1m28x86.7x2x
Thu, 04 Jan 2024€27.5b€15.3b€349.1m26.5x78.8x1.8x
Sat, 02 Dec 2023€26.4b€15.3b€349.1m25.7x75.5x1.7x
Mon, 30 Oct 2023€25.0b€15.7b€988.6m22.7x25.3x1.6x
Wed, 27 Sep 2023€23.8b€15.7b€988.6m22.5x24x1.5x
Fri, 25 Aug 2023€26.0b€15.7b€988.1m22.8x26.3x1.7x
Sun, 23 Jul 2023€27.7b€15.0b€849.1m23.9x32.7x1.9x
Tue, 20 Jun 2023€28.1b€15.0b€849.1m24.3x33.1x1.9x
Thu, 18 May 2023€28.5b€14.9b€853.1m24.5x33.4x1.9x
Sat, 15 Apr 2023€28.7b€14.8b€860.6m25.1x33.4x1.9x
Mon, 13 Mar 2023€27.9b€14.3b€781.2m28.6x35.7x2x
Wed, 08 Feb 2023€25.6b€14.0b€689.9m25.5x37.1x1.8x
Fri, 06 Jan 2023€23.6b€14.0b€689.9m23.7x34.1x1.7x
Sun, 04 Dec 2022€22.7b€14.0b€689.9m24.5x32.8x1.6x
Tue, 01 Nov 2022€20.3b€13.4b€696.5m22.5x29.1x1.5x
Thu, 29 Sep 2022€18.3b€13.4b€696.5m19.9x26.2x1.4x
Price to Earnings Ratio

26.2x


Total Market Cap: €18.3bTotal Earnings: €696.5mTotal Revenue: €13.4bTotal Market Cap vs Earnings and Revenue0%0%0%
German Aerospace & Defense Industry Price to Earnings3Y Average 50.8x202320242025
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 66.6x which is higher than its 3-year average PE of 50.8x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 5.3x.
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-0.33%
Industrials0.29%
Aerospace & Defense1.18%
Aerospace and Defense1.18%
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€65.001.2%
+€15.3m		45.4%PE215.6x

Latest News

OHB
€65.00
OHB
7D
1.2%
1Y
45.4%
FQT
€60.00
Frequentis
7D
-2.3%
1Y
136.2%
RHM
€1,928.00
Rheinmetall
7D
-1.1%
1Y
294.4%

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
€359.10
MTU Aero Engines
7D
-0.4%
1Y
28.2%

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.
HAG
€93.65
Hensoldt
7D
-2.2%
1Y
229.5%

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

Analysts have modestly reduced Hensoldt’s price target as recent share price gains are seen as largely reflecting increased defense spending and sector tailwinds, limiting further upside barring significant outperformance, with the consensus target moving slightly down from €96.18 to €94.67. Analyst Commentary Bullish analysts cite raised defense spending targets in Germany and across NATO (up to 3.5% of GDP and higher), supporting sector-wide growth expectations for Hensoldt.
Y73
€2.26
Scandinavian Astor Group
7D
-9.4%
1Y
136.1%