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German (DAX) Tech Sector Analysis

UpdatedJan 11, 2026
DataAggregated Company Financials
Companies121
  • 7D5.2%
  • 3M-3.1%
  • 1Y-6.7%
  • YTD5.2%

The Tech industry is up 5.2% in the last week, with SAP up 5.1%. In contrast, the industry has lost 6.7% in the last 12 months. Looking forward, earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 11 Jan 2026€350.3b€80.1b€9.1b27.5x38.4x4.4x
Tue, 09 Dec 2025€341.9b€80.4b€9.1b25.4x37.5x4.3x
Thu, 06 Nov 2025€358.3b€81.8b€9.1b24.2x39.5x4.4x
Sat, 04 Oct 2025€362.6b€80.5b€8.5b28.2x42.7x4.5x
Mon, 01 Sep 2025€365.3b€80.5b€8.5b28.4x43x4.5x
Wed, 30 Jul 2025€387.6b€80.3b€8.7b28.8x44.6x4.8x
Fri, 27 Jun 2025€391.1b€80.7b€7.9b27.3x49.7x4.8x
Sun, 25 May 2025€398.1b€80.8b€7.8b26.2x51.3x4.9x
Tue, 22 Apr 2025€345.0b€80.0b€5.5b20x62.9x4.3x
Thu, 20 Mar 2025€383.8b€79.5b€5.5b19.5x70.2x4.8x
Sat, 15 Feb 2025€418.6b€79.5b€5.5b18.3x75.5x5.3x
Mon, 13 Jan 2025€371.9b€78.7b€5.5b18.7x67.2x4.7x
Wed, 11 Dec 2024€366.8b€78.9b€5.5b19.2x66.4x4.6x
Fri, 08 Nov 2024€337.8b€79.3b€6.0b17.7x56.3x4.3x
Sun, 06 Oct 2024€317.8b€78.5b€5.8b19.5x54.6x4x
Tue, 03 Sep 2024€323.6b€79.1b€5.8b19.9x55.5x4.1x
Thu, 01 Aug 2024€315.9b€79.0b€6.2b20.1x51x4x
Sat, 29 Jun 2024€310.6b€78.6b€6.3b19.3x49.6x4x
Mon, 27 May 2024€307.8b€78.6b€6.3b19.1x48.5x3.9x
Wed, 24 Apr 2024€291.2b€79.3b€6.9b17.6x42.2x3.7x
Fri, 22 Mar 2024€303.8b€78.2b€8.3b18.2x36.4x3.9x
Sun, 18 Feb 2024€289.6b€78.1b€8.3b18.7x34.8x3.7x
Tue, 16 Jan 2024€265.6b€80.7b€6.7b19.7x39.9x3.3x
Thu, 14 Dec 2023€272.0b€80.3b€6.7b19.3x40.6x3.4x
Sat, 11 Nov 2023€245.9b€80.1b€6.7b19x36.8x3.1x
Mon, 09 Oct 2023€236.1b€79.4b€6.3b19.2x37.8x3x
Wed, 06 Sep 2023€245.5b€79.4b€6.3b18.7x39.2x3.1x
Fri, 04 Aug 2023€239.7b€78.2b€5.9b20.8x40.5x3.1x
Sun, 02 Jul 2023€249.4b€77.4b€6.0b21.7x41.5x3.2x
Tue, 30 May 2023€241.4b€77.8b€6.3b20.2x38.1x3.1x
Thu, 27 Apr 2023€238.6b€76.2b€6.0b23.6x39.8x3.1x
Sat, 25 Mar 2023€228.3b€75.5b€6.6b24.4x34.4x3x
Mon, 20 Feb 2023€225.3b€74.8b€6.6b25.3x34.1x3x
Wed, 18 Jan 2023€218.4b€73.5b€7.3b25x30x3x
Price to Earnings Ratio

30x


Total Market Cap: €218.4bTotal Earnings: €7.3bTotal Revenue: €73.5bTotal Market Cap vs Earnings and Revenue0%0%0%
German Tech Sector Price to Earnings3Y Average 45.8x202420252026
Current Industry PE
  • Investors are pessimistic on the German Information Technology 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 38.4x which is lower than its 3-year average PE of 45.8x.
  • The 3-year average PS ratio of 3.9x is lower than the industry's current PS ratio of 4.4x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 7.8% per year over the last three years.
  • Revenues for these companies have grown 2.9% 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 Tech sector?

DE Market2.61%
Tech5.22%
Semiconductors7.88%
Software4.88%
IT2.55%
Electronic Equipment and Components1.49%
Communications0.85%
Tech Hardware0.018%
Industry PE
  • Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 23.2x.
    • Analysts are expecting annual earnings growth of 24.2%, which is higher than its past year's earnings decline of 30.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Tech Hardware industry, expecting annual earnings growth of 70% over the next 5 years.
  • In contrast, the Communications 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
SAP SAP€212.355.1%
+€12.1b
-13.6%PE34.9x
IFX Infineon Technologies€41.558.6%
+€4.3b
29.0%PE54.8x
ELG Elmos Semiconductor€108.409.1%
+€154.3m
38.8%PE15x
NEM Nemetschek€91.601.4%
+€150.1m
-6.4%PE51.8x
IOS IONOS Group€27.804.1%
+€148.8m
27.8%PE17.2x

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