Analysis Article • May 23
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German (DAX) Industrials Sector Analysis
UpdatedMay 25, 2026
DataAggregated Company Financials
Companies156
- 7D3.0%
- 3M0.04%
- 1Y23.1%
- YTD10.5%
The Industrials industry is up 3.0% in the last week, with Siemens up 5.9%. During this same period, the Nordex underperformed, falling 10%. This means that the industry has gained 23% over the past year. Earnings are forecast to grow by 20% annually.
Sector Valuation and Performance
Has the German Industrials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 26 May 2026 | €766.8b | €543.3b | €24.7b | 18.7x | 31x | 1.4x |
| Thu, 23 Apr 2026 | €760.8b | €552.0b | €26.0b | 19.9x | 29.2x | 1.4x |
| Sat, 21 Mar 2026 | €678.3b | €551.3b | €26.7b | 18.8x | 25.4x | 1.2x |
| Mon, 16 Feb 2026 | €762.5b | €557.2b | €26.9b | 21.2x | 28.3x | 1.4x |
| Wed, 14 Jan 2026 | €745.4b | €555.9b | €26.1b | 21.4x | 28.6x | 1.3x |
| Fri, 12 Dec 2025 | €688.5b | €556.0b | €26.2b | 20.9x | 26.3x | 1.2x |
| Sun, 09 Nov 2025 | €636.5b | €514.1b | €25.9b | 18.6x | 24.6x | 1.2x |
| Tue, 07 Oct 2025 | €676.1b | €552.6b | €27.5b | 19.6x | 24.6x | 1.2x |
| Thu, 04 Sep 2025 | €625.7b | €552.7b | €27.5b | 18.6x | 22.8x | 1.1x |
| Sat, 02 Aug 2025 | €620.7b | €552.9b | €27.7b | 21.1x | 22.4x | 1.1x |
| Mon, 30 Jun 2025 | €616.2b | €572.8b | €26.9b | 17.3x | 22.9x | 1.1x |
| Wed, 28 May 2025 | €616.1b | €573.4b | €26.9b | 16.6x | 22.9x | 1.1x |
| Fri, 25 Apr 2025 | €532.4b | €565.8b | €26.3b | 15.9x | 20.2x | 0.9x |
| Sun, 23 Mar 2025 | €569.3b | €567.2b | €26.7b | 17.1x | 21.4x | 1x |
| Tue, 18 Feb 2025 | €542.3b | €560.9b | €25.5b | 16.3x | 21.3x | 1x |
| Thu, 16 Jan 2025 | €472.9b | €558.6b | €27.5b | 15x | 17.2x | 0.8x |
| Sat, 14 Dec 2024 | €471.0b | €559.0b | €27.5b | 14.9x | 17.1x | 0.8x |
| Mon, 11 Nov 2024 | €451.2b | €559.6b | €26.4b | 14.4x | 17.1x | 0.8x |
| Wed, 09 Oct 2024 | €441.8b | €554.4b | €26.2b | 15.4x | 16.9x | 0.8x |
| Fri, 06 Sep 2024 | €413.4b | €555.2b | €26.2b | 14.6x | 15.8x | 0.7x |
| Sun, 04 Aug 2024 | €403.8b | €551.9b | €23.1b | 13.7x | 17.5x | 0.7x |
| Tue, 02 Jul 2024 | €432.0b | €549.6b | €23.8b | 15x | 18.2x | 0.8x |
| Thu, 30 May 2024 | €440.7b | €549.5b | €23.6b | 16.5x | 18.7x | 0.8x |
| Sat, 27 Apr 2024 | €446.9b | €552.0b | €27.3b | 15.2x | 16.3x | 0.8x |
| Mon, 25 Mar 2024 | €437.8b | €550.9b | €27.0b | 15.4x | 16.2x | 0.8x |
| Wed, 21 Feb 2024 | €412.5b | €558.3b | €29.8b | 13.6x | 13.9x | 0.7x |
| Fri, 19 Jan 2024 | €409.2b | €565.0b | €26.7b | 15x | 15.3x | 0.7x |
| Sun, 17 Dec 2023 | €410.3b | €565.0b | €26.7b | 14.6x | 15.4x | 0.7x |
| Tue, 14 Nov 2023 | €360.4b | €564.6b | €28.8b | 14.1x | 12.5x | 0.6x |
| Thu, 12 Oct 2023 | €515.4b | €635.9b | €41.6b | 13.6x | 12.4x | 0.8x |
| Sat, 09 Sep 2023 | €388.7b | €574.4b | €33.8b | 14.6x | 11.5x | 0.7x |
| Mon, 07 Aug 2023 | €412.6b | €575.9b | €37.0b | 14.7x | 11.2x | 0.7x |
| Wed, 05 Jul 2023 | €409.6b | €574.9b | €36.5b | 15x | 11.2x | 0.7x |
| Fri, 02 Jun 2023 | €411.0b | €572.7b | €36.6b | 14.9x | 11.2x | 0.7x |
Price to Earnings Ratio
11.2x
Current Industry PE
- Investors are optimistic on the German Industrials industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 31.0x which is higher than its 3-year average PE of 19.1x.
- The 3-year average PS ratio of 0.93x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
- The earnings for companies in the Industrials industry have declined 12% per year over the last three years.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the German Industrials sector?
| DE Market | 2.37% | |
| Industrials | 2.96% | |
| Aerospace & Defense | 11.52% | |
| Logistics | 5.44% | |
| Infrastructure | 3.24% | |
| Industrials | 3.07% | |
| Airlines | 2.60% | |
| Electrical | 2.07% | |
| Professional Services | 2.06% | |
| Transportation | 0.88% | |
| Machinery | 0.53% | |
| Commercial Services | 0.36% | |
| Building | 0.18% | |
| Marine and Shipping | -3.40% | |
| Construction | -3.48% | |
| Trade Distributors | -6.15% | |
Industry PE
- Investors are most optimistic about the Marine and Shipping industry which is trading above its 3-year average PE ratio of 13.2x.
- Analysts are expecting annual earnings growth of 32.7%, which is higher than its past year's earnings decline of 59.2% per year.
Forecasted Growth
- Analysts are most optimistic on the Professional Services industry, expecting annual earnings growth of 91% over the next 5 years.
- This is better than its past earnings growth rate of 13% per year.
- In contrast, the Infrastructure industry is expected to see its earnings grow by 4.2% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| SIE Siemens | €276.75 | 6.2% +€12.5b | 26.6% | PE27.9x | |
| ENR Siemens Energy | €181.28 | 6.7% +€9.7b | 117.8% | PE69.7x | |
| DHL Deutsche Post | €50.26 | 6.3% +€3.3b | 29.9% | PE15.8x | |
| RHM Rheinmetall | €1.24k | 6.1% +€3.3b | -32.5% | PE55.1x | |
| MTX MTU Aero Engines | €314.10 | 14.6% +€2.1b | -9.8% | PE17x |
