Narrative Update • May 23

Over the last 7 days, the Construction industry has risen 3.6%, driven by gains from HOCHTIEF of 3.7%. In the last 12 months, the industry was up 177%. Earnings are forecast to grow by 21% annually.
Has the German Construction Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 01 Jun 2026 | €38.0b | €41.5b | €799.0m | 37.1x | 47.6x | 0.9x |
| Wed, 29 Apr 2026 | €34.6b | €41.0b | €896.8m | 32.6x | 38.6x | 0.8x |
| Fri, 27 Mar 2026 | €30.8b | €41.0b | €896.8m | 29.9x | 34.3x | 0.8x |
| Sun, 22 Feb 2026 | €31.9b | €40.6b | €846.8m | 32.9x | 37.7x | 0.8x |
| Tue, 20 Jan 2026 | €28.7b | €40.7b | €858.8m | 32.2x | 33.4x | 0.7x |
| Thu, 18 Dec 2025 | €25.4b | €40.8b | €870.2m | 28.2x | 29.1x | 0.6x |
| Sat, 15 Nov 2025 | €22.7b | €40.8b | €870.2m | 25.3x | 26.1x | 0.6x |
| Mon, 13 Oct 2025 | €21.2b | €40.0b | €838.7m | 27.2x | 25.3x | 0.5x |
| Wed, 10 Sep 2025 | €18.1b | €40.0b | €838.7m | 27.4x | 21.6x | 0.5x |
| Fri, 08 Aug 2025 | €16.7b | €40.1b | €846.8m | 28.9x | 19.7x | 0.4x |
| Sun, 06 Jul 2025 | €13.9b | €38.5b | €984.6m | 22.7x | 14.1x | 0.4x |
| Tue, 03 Jun 2025 | €13.7b | €38.5b | €984.5m | 22.2x | 13.9x | 0.4x |
| Thu, 01 May 2025 | €13.9b | €35.9b | €799.9m | 31.1x | 17.4x | 0.4x |
| Sat, 29 Mar 2025 | €13.8b | €35.9b | €799.9m | 32.8x | 17.3x | 0.4x |
| Mon, 24 Feb 2025 | €12.8b | €35.9b | €799.9m | 27.3x | 16x | 0.4x |
| Wed, 22 Jan 2025 | €11.8b | €33.6b | €738.1m | 31.6x | 16x | 0.4x |
| Fri, 20 Dec 2024 | €11.1b | €33.8b | €733.2m | 30.2x | 15.1x | 0.3x |
| Sun, 17 Nov 2024 | €9.8b | €33.7b | €727.9m | 33x | 13.5x | 0.3x |
| Tue, 15 Oct 2024 | €9.8b | €32.1b | €704.2m | 34.9x | 13.9x | 0.3x |
| Thu, 12 Sep 2024 | €9.3b | €32.1b | €704.0m | 45.8x | 13.2x | 0.3x |
| Sat, 10 Aug 2024 | €9.3b | €32.1b | €704.3m | 46.5x | 13.2x | 0.3x |
| Mon, 08 Jul 2024 | €9.6b | €31.0b | €431.0m | 64.5x | 22.4x | 0.3x |
| Wed, 05 Jun 2024 | €9.2b | €31.0b | €431.0m | 67.4x | 21.3x | 0.3x |
| Fri, 03 May 2024 | €9.2b | €30.4b | €435.7m | 53x | 21.2x | 0.3x |
| Sun, 31 Mar 2024 | €10.1b | €30.4b | €435.7m | 61.6x | 23.3x | 0.3x |
| Tue, 27 Feb 2024 | €10.0b | €30.4b | €435.8m | 64.4x | 23x | 0.3x |
| Thu, 25 Jan 2024 | €10.8b | €31.8b | €334.4m | 50.6x | 32.3x | 0.3x |
| Sat, 23 Dec 2023 | €10.4b | €31.8b | €334.1m | 58.3x | 31.2x | 0.3x |
| Mon, 20 Nov 2023 | €10.6b | €31.7b | €328.6m | 71x | 32.2x | 0.3x |
| Wed, 18 Oct 2023 | €9.8b | €31.6b | €324.9m | 70x | 30.3x | 0.3x |
| Fri, 15 Sep 2023 | €10.7b | €31.6b | €328.2m | 14.9x | 32.5x | 0.3x |
| Sun, 13 Aug 2023 | €10.3b | €31.5b | €331.9m | 13.6x | 31.1x | 0.3x |
| Tue, 11 Jul 2023 | €9.6b | €30.8b | €316.8m | 7.1x | 30.4x | 0.3x |
| Thu, 08 Jun 2023 | €6.5b | €29.0b | €410.6m | 6.8x | 15.8x | 0.2x |
15.8x
Which industries have driven the changes within the German Industrials industry?
| DE Market | -0.78% | |
| Industrials | -2.14% | |
| Construction | 0.52% | |
| Construction and Engineering | 0.52% | |
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| HOT HOCHTIEF | €486.60 | 0.5% +€180.6m | 199.8% | PE45.5x | |
| NCH2 thyssenkrupp nucera KGaA | €8.72 | 1.2% +€12.6m | -6.8% | PS1.5x | |
| B5A0 BAUER | €6.06 | 1.0% +€2.6m | -10.2% | PE28.7x | |
| 3SQ1 AHT Syngas Technology | €3.28 | 23.3% +€1.5m | -28.4% | PS10.6x | |
| EBGK Aleia Holding | €0.13 | 16.4% +€334.0k | -1.5% | n/a |