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German (DAX) IT Industry Analysis

UpdatedJan 15, 2026
DataAggregated Company Financials
Companies28
  • 7D-1.0%
  • 3M4.5%
  • 1Y28.0%
  • YTD2.0%

Over the last 7 days, the IT industry has dropped 1.0%, driven by IONOS Group declining 3.4%. Over the past 12 months, the industry was up 28%. Earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

Has the German IT Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 15 Jan 2026€16.7b€17.5b€741.4m25.9x22.6x1x
Sat, 13 Dec 2025€16.3b€17.5b€749.0m25.3x21.8x0.9x
Mon, 10 Nov 2025€14.8b€17.4b€734.3m21.9x20.2x0.9x
Wed, 08 Oct 2025€16.8b€17.4b€736.8m22.4x22.8x1x
Fri, 05 Sep 2025€16.4b€17.4b€735.9m24x22.3x0.9x
Sun, 03 Aug 2025€17.1b€17.3b€681.4m27.1x25.1x1x
Tue, 01 Jul 2025€18.1b€17.3b€684.0m26.4x26.4x1x
Thu, 29 May 2025€17.7b€17.3b€684.1m25.9x25.8x1x
Sat, 26 Apr 2025€15.8b€16.7b€690.1m22.2x22.9x0.9x
Mon, 24 Mar 2025€12.7b€15.8b€545.9m19.3x23.3x0.8x
Wed, 19 Feb 2025€11.5b€15.8b€547.1m19.5x21x0.7x
Fri, 17 Jan 2025€10.5b€15.8b€562.0m18.8x18.7x0.7x
Sun, 15 Dec 2024€10.8b€15.8b€558.4m18.8x19.3x0.7x
Tue, 12 Nov 2024€10.7b€15.7b€549.1m18.4x19.5x0.7x
Thu, 10 Oct 2024€11.4b€15.5b€554.0m20.3x20.5x0.7x
Sat, 07 Sep 2024€10.9b€15.5b€562.6m18.4x19.4x0.7x
Mon, 05 Aug 2024€12.0b€15.3b€549.1m20.2x21.8x0.8x
Wed, 03 Jul 2024€12.3b€15.3b€545.4m19.5x22.5x0.8x
Fri, 31 May 2024€13.4b€15.3b€546.1m19.4x24.5x0.9x
Sun, 28 Apr 2024€13.2b€15.0b€545.3m20.8x24.2x0.9x
Tue, 26 Mar 2024€13.3b€14.9b€474.0m22.9x28.1x0.9x
Thu, 22 Feb 2024€13.4b€14.7b€455.0m22.8x29.5x0.9x
Sat, 20 Jan 2024€13.6b€14.8b€458.9m22.7x29.6x0.9x
Mon, 18 Dec 2023€13.4b€14.8b€462.4m22.3x29.1x0.9x
Wed, 15 Nov 2023€13.5b€14.8b€480.1m19.9x28.2x0.9x
Fri, 13 Oct 2023€13.0b€14.6b€457.9m19.1x28.3x0.9x
Sun, 10 Sep 2023€13.4b€14.6b€455.7m19.8x29.3x0.9x
Tue, 08 Aug 2023€12.7b€14.4b€493.6m17.2x25.7x0.9x
Thu, 06 Jul 2023€12.4b€14.3b€487.8m17.6x25.4x0.9x
Sat, 03 Jun 2023€12.7b€14.3b€491.8m19.8x25.8x0.9x
Mon, 01 May 2023€14.0b€14.0b€493.5m21.1x28.3x1x
Wed, 29 Mar 2023€13.9b€14.1b€580.5m21.1x23.9x1x
Fri, 24 Feb 2023€14.6b€13.8b€579.4m24.3x25.3x1.1x
Sun, 22 Jan 2023€14.0b€13.7b€576.6m24.7x24.3x1x
Price to Earnings Ratio

24.3x


Total Market Cap: €14.0bTotal Earnings: €576.6mTotal Revenue: €13.7bTotal Market Cap vs Earnings and Revenue0%0%0%
German IT Industry Price to Earnings3Y Average 24.4x202420252026
Current Industry PE
  • Investors are relatively neutral on the German IT industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 24.4x.
  • The industry is trading close to its 3-year average PS ratio of 0.89x.
Past Earnings Growth
  • The earnings for companies in the IT industry have grown 8.7% per year over the last three years.
  • Revenues for these companies have grown 8.4% 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 industry?

DE Market0.33%
Tech-1.41%
IT-1.02%
Data Processing Services0%0
IT Consulting-0.44%
Internet Services and Infrastructure-2.89%
Industry PE
  • Investors are most optimistic about the IT Consulting industry, which is trading close to its 3-year average PE ratio of 23.2x.
    • Analysts are expecting annual earnings growth of 15.9%, which is higher than its past year's earnings decline of 15.1% per year.
  • Investors are most pessimistic about the Internet Services and Infrastructure industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 1.7x.
Forecasted Growth
  • Analysts are most optimistic on the IT Consulting industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings decline of 15% per year.
  • In contrast, the Internet Services and Infrastructure industry is expected to see its earnings grow by 15% 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
COK Cancom€28.253.3%
+€27.4m		19.2%PE49.8x
AEIN Allgeier€23.109.5%
+€22.9m		56.6%PS0.6x
SANT Kontron€24.581.0%
+€14.7m		36.9%PE11.1x
QBY q.beyond€0.7511.5%
+€9.7m		7.4%PS0.5x
A1OS All for One Group€42.002.2%
+€4.2m		-30.2%PE17.9x

Latest News

YSN
€195.60
secunet Security Networks
7D
-2.2%
1Y
70.1%

YSN: Higher Margin Outlook Will Support Stronger Future Fair Value Estimate

Analysts have raised their fair value estimate for secunet Security Networks from €216.75 to €228.75, citing updated assumptions that include a slightly higher discount rate, modestly different revenue growth expectations, a higher profit margin outlook, and a lower future P/E multiple. What's in the News Management confirmed earnings guidance for the full year 2025, keeping annual revenue expectations at around €425 million (Key Developments).
NA9
€68.40
Nagarro
7D
-5.3%
1Y
-11.9%

NA9: AI Partnerships And Tuck In Deals Will Drive Future Shareholder Value

Narrative Update on Nagarro Analysts now hold their fair value estimate for Nagarro steady at €90.25 per share, with only minor tweaks to inputs such as the discount rate and assumed future P/E that fine tune rather than overhaul their overall view. What's in the News Nagarro has become an OpenAI Services Partner, supporting enterprises across Asia Pacific in adopting OpenAI technologies such as the OpenAI API and ChatGPT Enterprise, with a focus on advisory, engineering and enablement for generative AI solutions and responsible deployment in core workflows (Client Announcements).
D6H
€69.40
DATAGROUP
7D
-0.1%
1Y
54.9%

D6H: Cloud Contracts And SME Expansion Will Support A Stable Outlook

Analysts have maintained their fair value estimate for DATAGROUP at €66.00. The updated price target reflects adjusted assumptions around the discount rate, revenue growth, profit margin and future P/E, which together suggest a slightly different risk and earnings profile than before.
BC8
€43.84
Bechtle
7D
-1.2%
1Y
43.0%

BC8: 2026 IT Revival Hopes Will Likely Overestimate Budget Recovery Timing

Analysts have nudged their price target on Bechtle to €43, reflecting slightly adjusted assumptions on discount rate, growth and profitability, and a view that the company could benefit if IT spending picks up into 2026. Analyst Commentary The latest move to a €43 price target reflects a view that Bechtle could see a pick up in demand if IT budgets improve into 2026.
AEIN
€23.10
Allgeier
7D
9.5%
1Y
56.6%
FXT
€48.40
Finexity
7D
7.6%
1Y
n/a
IOS
€27.15
IONOS Group
7D
-3.4%
1Y
22.0%

IOS: Rising Profit Margins And Buybacks Will Support Strong Future Returns

Analysts have trimmed their price target on IONOS Group slightly, from €38.50 to €38.00. This reflects updated assumptions for slower revenue growth, a mildly higher discount rate, a small uplift in projected profit margin, and a marginally lower future P/E.
QBY
€0.75
q.beyond
7D
11.5%
1Y
7.4%
A1OS
€42.00
All for One Group
7D
2.2%
1Y
-30.2%

There May Be Reason For Hope In All for One Group's (ETR:A1OS) Disappointing Earnings

Dec 22
There May Be Reason For Hope In All for One Group's (ETR:A1OS) Disappointing Earnings
SANT
€24.58
Kontron
7D
1.0%
1Y
36.9%

Kontron AG's (ETR:SANT) Low P/E No Reason For Excitement

Dec 15
Kontron AG's (ETR:SANT) Low P/E No Reason For Excitement
COK
€28.25
Cancom
7D
3.3%
1Y
19.2%

Here's Why Cancom (ETR:COK) Can Manage Its Debt Responsibly

Nov 28
Here's Why Cancom (ETR:COK) Can Manage Its Debt Responsibly
GFT
€20.85
GFT Technologies
7D
0.7%
1Y
-9.2%
3ITN
€12.90
audius
7D
6.6%
1Y
12.2%
SHF
€66.80
SNP Schneider-Neureither & Partner
7D
-1.2%
1Y
49.4%
OBS
€5.75
ORBIS
7D
-1.7%
1Y
-1.7%
PLEK
€5.85
plenum
7D
-0.8%
1Y
-31.2%

Investors Holding Back On plenum AG (FRA:PLEK)

Jul 29
Investors Holding Back On plenum AG (FRA:PLEK)