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German (DAX) Materials Sector Analysis

UpdatedApr 20, 2026
DataAggregated Company Financials
Companies32
  • 7D1.2%
  • 3M6.1%
  • 1Y16.4%
  • YTD7.0%

Over the last 7 days, the Materials industry has risen 1.2%, driven by gains from Heidelberg Materials of 2.5%. This takes the industry's 12 month performance to a gain of 16%. As for the next few years, earnings are expected to grow by 31% per annum.

Sector Valuation and Performance

Has the German Materials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026€146.0b€196.9b€2.0b17.5x73.1x0.7x
Thu, 19 Mar 2026€132.8b€197.2b€2.2b21.5x59.3x0.7x
Sat, 14 Feb 2026€141.2b€203.3b€2.3b18.1x60.8x0.7x
Mon, 12 Jan 2026€138.4b€202.4b€1.6b22.6x84.8x0.7x
Wed, 10 Dec 2025€132.3b€202.9b-€66,415,326.2923x-1991.4x0.7x
Fri, 07 Nov 2025€127.8b€203.4b-€41,585,240.8122x-3073.8x0.6x
Sun, 05 Oct 2025€131.5b€204.7b€438.8m20.7x299.6x0.6x
Tue, 02 Sep 2025€134.2b€207.2b€238.4m22.9x562.8x0.6x
Thu, 31 Jul 2025€133.2b€209.4b€2.5b20.8x54.1x0.6x
Sat, 28 Jun 2025€135.2b€209.4b€2.5b20.8x55x0.6x
Mon, 26 May 2025€130.8b€206.9b€2.4b19.3x55.5x0.6x
Wed, 23 Apr 2025€127.1b€207.4b€3.0b13.3x42.6x0.6x
Fri, 21 Mar 2025€140.4b€207.3b€2.6b17.2x53.7x0.7x
Sun, 16 Feb 2025€130.2b€206.9b€1.8b17.5x71.5x0.6x
Tue, 14 Jan 2025€112.2b€206.9b€1.4b15.2x82.3x0.5x
Thu, 12 Dec 2024€119.3b€206.9b€1.4b15.6x87.5x0.6x
Sat, 09 Nov 2024€124.8b€213.7b€486.1m13.6x256.7x0.6x
Mon, 07 Oct 2024€128.9b€213.7b-€468,655,752.5514.6x-275.1x0.6x
Wed, 04 Sep 2024€114.0b€206.9b-€490,232,654.1714.8x-232.5x0.6x
Fri, 02 Aug 2024€112.2b€207.2b-€981,537,796.2011.7x-114.3x0.5x
Sun, 30 Jun 2024€117.0b€209.2b-€532,231,352.5613.4x-219.8x0.6x
Tue, 28 May 2024€114.7b€204.0b-€906,541,039.6714.3x-126.6x0.6x
Thu, 25 Apr 2024€120.7b€214.7b-€27,631,358.4412.8x-4368.2x0.6x
Sat, 23 Mar 2024€124.3b€214.7b-€15,758,154.9611.7x-7891x0.6x
Mon, 19 Feb 2024€112.6b€221.8b-€2,923,898,604.8410.8x-38.5x0.5x
Wed, 17 Jan 2024€111.5b€223.8b-€2,614,141,391.0012.5x-42.6x0.5x
Fri, 15 Dec 2023€118.8b€223.7b-€2,454,974,940.0011.3x-48.4x0.5x
Sun, 12 Nov 2023€110.3b€226.7b€416.3m11.1x264.9x0.5x
Tue, 10 Oct 2023€107.0b€236.3b€2.4b9.9x45.2x0.5x
Thu, 07 Sep 2023€114.6b€236.3b€2.4b10.6x48.3x0.5x
Sat, 05 Aug 2023€117.2b€240.9b€4.0b10.5x29.3x0.5x
Mon, 03 Jul 2023€113.8b€247.2b€5.8b12.2x19.6x0.5x
Wed, 31 May 2023€113.5b€247.2b€5.8b12.9x19.5x0.5x
Fri, 28 Apr 2023€118.2b€252.9b€7.7b11.2x15.4x0.5x
Price to Earnings Ratio

15.4x


Total Market Cap: €118.2bTotal Earnings: €7.7bTotal Revenue: €252.9bTotal Market Cap vs Earnings and Revenue0%0%0%
German Materials Sector Price to Earnings3Y Average 57.1x202420252026
Current Industry PE
  • Investors are optimistic on the German Materials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 73.1x which is higher than its 3-year average PE of 57.0x.
  • The industry is trading close to its 3-year average PS ratio of 0.58x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 36% per year over the last three years,
  • Revenues have also declined 8.0% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the German Materials sector?

DE Market3.70%
Materials1.22%
Paper and Forestry Products21.36%
Metals and Mining7.40%
Basic Materials4.58%
Chemicals-1.05%
Packaging-7.21%
Industry PE
  • Investors are most optimistic about the Paper and Forestry Products industry which is trading above its 3-year average PE ratio of 42.8x.
    • Analysts are expecting annual earnings growth of 18.2%, which is lower than the prior year's growth of 76.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Chemicals industry, expecting annual earnings growth of 41% over the next 5 years.
  • This is better than its past earnings decline of 4.4% per year.
  • In contrast, the Basic Materials industry is expected to see its earnings grow by 9.8% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
HEI Heidelberg Materials€192.052.5%
+€828.9m		18.9%PE17.1x
SY1 Symrise€76.646.1%
+€605.2m		-19.6%PE42.5x
NDA Aurubis€190.506.0%
+€467.2m		156.4%PE13.7x
TKA thyssenkrupp€9.037.6%
+€394.7m		-4.3%PE34.5x
WCH Wacker Chemie€95.005.1%
+€228.5m		48.7%PS0.9x

Latest News

EVK
€16.98
Evonik Industries
7D
-0.9%
1Y
-9.3%

EVK: Recent Upgrades And Margin Outlook Will Support Medium-Term Re Rating Potential

Analysts have revised the fair value estimate for Evonik Industries from €19.90 to €20.40, reflecting updated views on revenue growth, profit margins and the P/E multiple following a series of recent upgrades and price target increases across the Street. Analyst Commentary Recent Street research shows a cluster of positive calls on Evonik Industries, with several bullish analysts adjusting their views and price targets in quick succession.
NDA
€190.50
Aurubis
7D
6.0%
1Y
156.4%
ACT
€180.90
AlzChem Group
7D
2.1%
1Y
72.9%

ACT: Specialty Platform And 2026 Expansions Will Underpin Cash Flow And Dividend Potential

Analysts have lifted their price targets on AlzChem to a range of about €195 to €197, reflecting updated models that incorporate a slightly lower discount rate, modestly higher revenue growth and profit margin assumptions, and a marginally reduced future P/E. Analyst Commentary Recent research points to a broadly constructive stance on AlzChem Group, with several firms lifting price targets into a narrow band between about €195 and €197.
WCH
€95.00
Wacker Chemie
7D
5.1%
1Y
48.7%

WCH: Supportive Research Tone Will Sustain Richer Future P/E Expectations

Analysts have nudged the fair value estimate for Wacker Chemie up to €96.00 from about €95.45, citing a higher assumed revenue growth rate, a revised future P/E of roughly 20.7, and a series of recent price target increases and upgrades from major banks. Analyst Commentary Recent Street research has tilted more supportive, with several bullish analysts revising their views in a way that reinforces the higher fair value estimate and the assumed future P/E of about 20.7. Some have raised price targets, including one increase to €61 from €59 alongside an Underweight rating, while others have moved to more positive stances through upgrades and more constructive commentary.
2HRA
€4.51
H&R GmbH KGaA
7D
13.3%
1Y
19.9%
TKA
€9.03
thyssenkrupp
7D
7.6%
1Y
-4.3%

TKA: Portfolio Reshaping And EU Steel Policy Support Will Shape Execution Outcomes

Analysts have set a new price target for thyssenkrupp at €9.50, citing updated views on policy support for EU steel, execution momentum and revised medium term earnings assumptions across recent research. Analyst Commentary Recent research on thyssenkrupp shows a split view, with some firms lifting ratings and targets while others adjust expectations more cautiously.
SZG
€49.56
Salzgitter
7D
6.0%
1Y
127.8%

SZG: Mixed Rating Shifts And MDAX Inclusion Will Shape Future Equity Repricing

The updated analyst price target for Salzgitter moves to €46.99 from €49.12, as analysts factor in more cautious assumptions on revenue growth and profit margins, even while several recent research notes highlight higher individual price targets and mixed rating changes. Analyst Commentary Recent Street research on Salzgitter reflects a mix of upbeat and cautious views, with several firms adjusting ratings and price targets in different directions.
SY1
€76.64
Symrise
7D
6.1%
1Y
-19.6%

SY1: Upgrade And Capital Return Programme Will Support Future Share Repricing

Symrise's analyst price targets have shifted slightly, with changes such as Berenberg moving to €81.20 from €79.25 and JPMorgan adjusting to €100 from €105, as analysts refine their views on growth, margins, and valuation assumptions. Analyst Commentary Recent research opinions on Symrise point to a mix of optimism on long term growth potential and caution around valuation and near term execution.
BAS
€53.00
BASF
7D
-3.0%
1Y
26.3%

BAS: Policy Support And Carbon Tax Deferral Will Drive Future Upside Potential

The analyst fair value estimate for BASF has been adjusted from €62.00 to €63.00, with analysts pointing to slightly higher assumed revenue growth, a modestly stronger profit margin profile, a lower discount rate, and a small uplift in future P/E assumptions, supported by a mix of recent target increases, upgrades, and downgrades across the Street. Analyst Commentary Recent research on BASF has been mixed, but there is a clear group of bullish analysts who see room for upside, reflected in a series of upgrades and higher price targets clustered around the €48 to €56 range and above.
HEI
€192.05
Heidelberg Materials
7D
2.5%
1Y
18.9%

HEI: Upgraded Ratings And Earnings Quality Will Support Future Re Rating

Analysts have trimmed the fair value estimate for Heidelberg Materials from €300 to €285 as slightly higher discount rate assumptions and a lower future P/E multiple offset modestly stronger views on revenue growth and profit margins, in line with mixed recent price target revisions and upgrades from the Street. Analyst Commentary Recent Street research on Heidelberg Materials reflects a generally constructive tone, with several bullish analysts shifting their stance more positively even as some price targets are adjusted lower.
SDF
€14.55
K+S
7D
-8.8%
1Y
7.3%

SDF: Potash Cycle Pullback Risk Will Keep Shares Rangebound

The updated analyst price target for K+S edges higher to €14.64 from €14.56, as analysts factor in recent target increases from several banks, while moderating assumptions on revenue growth and profit margins, and applying a slightly lower discount rate alongside a higher future P/E of 20.31x. Analyst Commentary Recent Street research on K+S shows a mix of optimism around valuation upside and caution around industry risks, resulting in modest price target adjustments rather than wholesale shifts in stance.
EIS
€15.50
Eisen- und Hüttenwerke
7D
-4.9%
1Y
8.4%

Eisen- und Hüttenwerke's (FRA:EIS) Profits Appear To Have Quality Issues

Feb 07
Eisen- und Hüttenwerke's (FRA:EIS) Profits Appear To Have Quality Issues
AMA0
€1.03
Altech Advanced Materials
7D
-7.2%
1Y
-83.3%
02P
€0.57
Pearl Gold
7D
-5.0%
1Y
1.8%
BIG1
€0.57
Bio-Gate
7D
-8.1%
1Y
-30.1%