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German (DAX) Real Estate Sector Analysis

UpdatedJan 12, 2026
DataAggregated Company Financials
Companies60
  • 7D2.8%
  • 3M-7.1%
  • 1Y-7.1%
  • YTD4.3%

Over the last 7 days, the Real Estate industry has risen 2.8%, driven by gains from Vonovia of 3.6%. In the past year, the industry is down 7.1%. As for the next few years, earnings are expected to grow by 13% per annum.

Sector Valuation and Performance

Has the German Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 12 Jan 2026€63.1b€18.8b€4.1b11.3x15.4x3.4x
Wed, 10 Dec 2025€64.5b€19.0b€4.1b10.9x15.8x3.4x
Fri, 07 Nov 2025€67.3b€19.2b€5.4b13.2x12.6x3.5x
Sun, 05 Oct 2025€69.7b€19.4b€3.0b15.4x23.3x3.6x
Tue, 02 Sep 2025€71.4b€19.4b€3.0b14.9x23.7x3.7x
Thu, 31 Jul 2025€70.8b€19.2b€157.5m18.4x449.7x3.7x
Sat, 28 Jun 2025€69.5b€19.2b-€70,630,408.9316.3x-984.1x3.6x
Mon, 26 May 2025€67.5b€19.6b-€248,474,995.0723.2x-271.7x3.5x
Wed, 23 Apr 2025€65.1b€18.9b-€619,762,721.7021.4x-105x3.4x
Fri, 21 Mar 2025€60.9b€18.9b-€3,642,720,403.4414.2x-16.7x3.2x
Sun, 16 Feb 2025€66.9b€17.9b-€7,474,147,216.7020.5x-9x3.7x
Tue, 14 Jan 2025€64.4b€17.7b-€7,471,415,033.8219x-8.6x3.6x
Thu, 12 Dec 2024€71.3b€17.8b-€7,659,889,108.9719.4x-9.3x4x
Sat, 09 Nov 2024€69.8b€17.3b-€8,513,502,083.8517.9x-8.2x4x
Mon, 07 Oct 2024€77.0b€17.1b-€7,789,538,821.7012.7x-9.9x4.5x
Wed, 04 Sep 2024€71.5b€17.1b-€7,976,901,078.7321.3x-9x4.2x
Fri, 02 Aug 2024€68.4b€17.4b-€12,456,207,357.7324.2x-5.5x3.9x
Sun, 30 Jun 2024€65.3b€17.5b-€12,675,095,258.6726.7x-5.2x3.7x
Tue, 28 May 2024€65.7b€17.1b-€12,757,997,659.0025x-5.1x3.9x
Thu, 25 Apr 2024€63.3b€17.6b-€16,937,641,986.0027.6x-3.7x3.6x
Sat, 23 Mar 2024€66.9b€17.7b-€16,717,179,517.0030.9x-4x3.8x
Mon, 19 Feb 2024€66.9b€18.2b-€16,713,208,499.0032.1x-4x3.7x
Wed, 17 Jan 2024€75.7b€19.0b-€18,166,375,683.0033.7x-4.2x4x
Fri, 15 Dec 2023€77.8b€19.5b-€17,414,824,644.0020.1x-4.5x4x
Sun, 12 Nov 2023€70.5b€19.7b-€16,880,495,008.0013.1x-4.2x3.6x
Tue, 10 Oct 2023€70.1b€19.8b-€16,803,967,382.0013.2x-4.2x3.5x
Thu, 07 Sep 2023€71.3b€19.8b-€16,856,487,380.0014.5x-4.2x3.6x
Sat, 05 Aug 2023€69.6b€21.1b-€3,917,170,844.0017.9x-17.8x3.3x
Mon, 03 Jul 2023€66.5b€21.1b-€3,807,049,738.0020.3x-17.5x3.2x
Wed, 31 May 2023€63.9b€20.9b-€3,409,724,719.0016.5x-18.7x3.1x
Fri, 28 Apr 2023€68.1b€25.2b-€1,004,280,563.0015.6x-67.8x2.7x
Sun, 26 Mar 2023€58.4b€24.8b€202.5m13.6x288.5x2.4x
Tue, 21 Feb 2023€75.2b€26.1b€6.5b11.4x11.5x2.9x
Thu, 19 Jan 2023€78.2b€25.9b€6.6b11.2x11.8x3x
Price to Earnings Ratio

11.8x


Total Market Cap: €78.2bTotal Earnings: €6.6bTotal Revenue: €25.9bTotal Market Cap vs Earnings and Revenue0%0%0%
German Real Estate Sector Price to Earnings3Y Average -16.9x202420252026
Current Industry PE
  • Investors are pessimistic on the German Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 15.4x which is higher than its 3-year average PE of -16.9x.
  • The industry is trading close to its 3-year average PS ratio of 3.6x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 15% per year over the last three years,
  • Revenues have also declined 10% 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 Real Estate sector?

DE Market1.40%
Real Estate2.79%
Real Estate2.81%
Retail REITs1.13%
REITS1.13%
Office REITs0%0
Industry PE
  • Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 13.4%, which is higher than its past year's earnings growth of 8.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Retail REITs industry, expecting annual earnings growth of 14% over the next 5 years.
  • However this is lower than its past earnings growth rate of 70% per year.
  • In contrast, the Real Estate industry is expected to see its earnings grow by 13% 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
VNA Vonovia€25.313.5%
+€720.9m
-6.7%PE8x
DWNI Deutsche Wohnen€21.403.4%
+€277.9m
-1.4%PS4.3x
LEG LEG Immobilien€64.554.0%
+€188.9m
-13.6%PE4.1x
AT1 Aroundtown€2.795.7%
+€164.1m
12.1%PE3.7x
TEG TAG Immobilien€14.126.0%
+€151.2m
9.7%PE6.8x

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