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German (DAX) IT Industry Analysis

UpdatedDec 11, 2025
DataAggregated Company Financials
Companies28
  • 7D-0.5%
  • 3M-2.9%
  • 1Y18.6%
  • YTD20.5%

Over the last 7 days, the IT industry has remained flat, although notably Nagarro gained 5.8%. The past year has been better, since the industry has gained 19% in that time. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 11 Dec 2025€16.2b€17.5b€749.0m25.2x21.6x0.9x
Sat, 08 Nov 2025€14.8b€17.5b€734.3m21.9x20.2x0.8x
Mon, 06 Oct 2025€16.7b€17.4b€736.8m22.6x22.7x1x
Wed, 03 Sep 2025€16.4b€17.4b€735.9m23.7x22.3x0.9x
Fri, 01 Aug 2025€18.0b€17.3b€679.4m29.4x26.4x1x
Sun, 29 Jun 2025€17.8b€17.3b€684.0m26.4x26x1x
Tue, 27 May 2025€17.4b€17.3b€683.3m25.9x25.5x1x
Thu, 24 Apr 2025€15.5b€16.7b€690.1m21.8x22.5x0.9x
Sat, 22 Mar 2025€12.7b€15.8b€545.9m19.3x23.3x0.8x
Mon, 17 Feb 2025€11.3b€15.8b€547.1m19.4x20.6x0.7x
Wed, 15 Jan 2025€10.1b€15.8b€562.0m17.8x18.1x0.6x
Fri, 13 Dec 2024€10.8b€15.8b€558.4m18.7x19.4x0.7x
Sun, 10 Nov 2024€10.5b€15.7b€546.9m17.7x19.2x0.7x
Tue, 08 Oct 2024€11.5b€15.5b€554.0m20.3x20.8x0.7x
Thu, 05 Sep 2024€10.9b€15.2b€552.6m18.9x19.6x0.7x
Sat, 03 Aug 2024€12.0b€15.3b€549.1m20.2x21.9x0.8x
Mon, 01 Jul 2024€12.7b€15.3b€545.4m20x23.2x0.8x
Wed, 29 May 2024€13.5b€15.3b€546.1m19.8x24.8x0.9x
Fri, 26 Apr 2024€13.0b€15.0b€545.3m20.8x23.9x0.9x
Sun, 24 Mar 2024€13.4b€14.8b€469.7m23x28.4x0.9x
Tue, 20 Feb 2024€13.6b€14.7b€456.3m23.1x29.9x0.9x
Thu, 18 Jan 2024€13.2b€14.8b€458.9m21.9x28.8x0.9x
Sat, 16 Dec 2023€13.4b€14.8b€462.4m22.3x29x0.9x
Mon, 13 Nov 2023€12.9b€14.8b€480.1m19.7x26.9x0.9x
Wed, 11 Oct 2023€13.0b€14.6b€457.9m19.5x28.4x0.9x
Fri, 08 Sep 2023€13.3b€14.6b€455.7m19.7x29.3x0.9x
Sun, 06 Aug 2023€12.7b€14.4b€493.5m17.3x25.8x0.9x
Tue, 04 Jul 2023€12.4b€14.3b€487.8m17.8x25.4x0.9x
Thu, 01 Jun 2023€12.6b€14.3b€491.6m19.1x25.6x0.9x
Sat, 29 Apr 2023€13.9b€13.9b€493.8m21.1x28.2x1x
Mon, 27 Mar 2023€14.0b€14.1b€580.5m21.4x24.1x1x
Wed, 22 Feb 2023€14.8b€13.8b€578.3m24x25.6x1.1x
Fri, 20 Jan 2023€13.8b€13.7b€576.6m25x24x1x
Sun, 18 Dec 2022€12.7b€13.7b€578.1m22.8x22x0.9x
Price to Earnings Ratio

22x


Total Market Cap: €12.7bTotal Earnings: €578.1mTotal Revenue: €13.7bTotal Market Cap vs Earnings and Revenue0%0%0%
German IT Industry Price to Earnings3Y Average 24.4x202320242025
Current Industry PE
  • Investors are pessimistic on the German IT 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 21.6x which is lower than its 3-year average PE 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 9.0% 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 Market2.00%
Tech1.41%
IT-0.54%
Data Processing Services0%0
IT Consulting-0.39%
Internet Services and Infrastructure-1.04%
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 16.2%, which is higher than its past year's earnings decline of 4.9% 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 0.92x.
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 4.9% per year.
  • In contrast, the Internet Services and Infrastructure industry is expected to see its earnings grow by 16% 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
NA9 Nagarro€78.904.4%
+€43.3m		-15.7%PE20.9x
GFT GFT Technologies€18.422.9%
+€13.6m		-25.0%PE13.8x
YSN secunet Security Networks€186.801.1%
+€12.9m		58.3%PE37.8x
A1OS All for One Group€41.401.7%
+€3.4m		-24.5%PE12.5x
COK Cancom€27.350.4%
+€3.1m		14.2%PE48.6x

Latest News

BC8
€43.36
Bechtle
7D
-2.1%
1Y
38.2%

BC8: 2026 IT Spending Revival Will Likely Shape Fairly Priced Outlook

Analysts have raised their price target on Bechtle by approximately EUR 1, reflecting expectations for improving organic growth in German IT resellers and a potential revival in IT spending from 2026. This supports slightly higher fair value and profit margin assumptions despite modestly lower revenue growth forecasts.
NA9
€78.90
Nagarro
7D
4.4%
1Y
-15.7%

A Look At The Intrinsic Value Of Nagarro SE (ETR:NA9)

Dec 08
A Look At The Intrinsic Value Of Nagarro SE (ETR:NA9)
IOS
€25.65
IONOS Group
7D
-3.4%
1Y
14.0%

Why We're Not Concerned About IONOS Group SE's (ETR:IOS) Share Price

Dec 08
Why We're Not Concerned About IONOS Group SE's (ETR:IOS) Share Price
D6H
€66.00
DATAGROUP
7D
-2.1%
1Y
43.5%

D6H: Cloud Contracts And SME Services Will Support A Steady Outlook

Analysts have modestly raised their price target on DATAGROUP to €66.00. This reflects slightly higher long term assumptions for the company’s discount rate and future valuation multiples, while revenue growth and margins remain broadly unchanged.
AEIN
€19.70
Allgeier
7D
-4.4%
1Y
18.3%
SANT
€22.40
Kontron
7D
-1.4%
1Y
21.4%
YSN
€186.80
secunet Security Networks
7D
1.1%
1Y
58.3%

Returns On Capital Signal Tricky Times Ahead For secunet Security Networks (ETR:YSN)

Nov 29
Returns On Capital Signal Tricky Times Ahead For secunet Security Networks (ETR:YSN)
COK
€27.35
Cancom
7D
0.4%
1Y
14.2%

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

Nov 28
Here's Why Cancom (ETR:COK) Can Manage Its Debt Responsibly
C1V
€5.93
mVISE
7D
-20.8%
1Y
42.5%
GFT
€18.42
GFT Technologies
7D
2.9%
1Y
-25.0%
A1OS
€41.40
All for One Group
7D
1.7%
1Y
-24.5%
3ITN
€12.00
audius
7D
0.8%
1Y
-2.0%
ADN1
€89.70
adesso
7D
-2.5%
1Y
-5.5%
SHF
€66.80
SNP Schneider-Neureither & Partner
7D
-1.2%
1Y
49.4%
NVQ
€8.65
Novabase S.G.P.S
7D
0.6%
1Y
51.8%

What Novabase S.G.P.S., S.A.'s (FRA:NVQ) P/E Is Not Telling You

Oct 28
What Novabase S.G.P.S., S.A.'s (FRA:NVQ) P/E Is Not Telling You