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German (DAX) IT Industry Analysis

UpdatedJan 26, 2026
DataAggregated Company Financials
Companies27
  • 7D1.5%
  • 3M5.9%
  • 1Y24.3%
  • YTD2.3%

Over the last 7 days, the IT industry has remained flat. As for the the longer term, the industry is up 23% over the past 12 months. 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
Mon, 26 Jan 2026€16.7b€17.4b€743.1m26.5x22.5x1x
Wed, 24 Dec 2025€16.3b€17.5b€744.4m25.3x21.9x0.9x
Fri, 21 Nov 2025€15.5b€17.4b€752.8m22.5x20.6x0.9x
Sun, 19 Oct 2025€15.7b€17.4b€736.8m21.4x21.3x0.9x
Tue, 16 Sep 2025€17.1b€17.4b€735.3m26.3x23.3x1x
Thu, 14 Aug 2025€17.1b€17.4b€746.6m25.1x22.9x1x
Sat, 12 Jul 2025€18.2b€17.3b€684.2m27.4x26.5x1x
Mon, 09 Jun 2025€18.1b€17.3b€684.1m27.1x26.5x1x
Wed, 07 May 2025€16.7b€17.2b€704.2m25.2x23.8x1x
Fri, 04 Apr 2025€15.3b€17.0b€711.6m22x21.5x0.9x
Sun, 02 Mar 2025€11.1b€15.8b€547.3m19.4x20.3x0.7x
Tue, 28 Jan 2025€10.8b€15.8b€562.0m18.7x19.2x0.7x
Thu, 26 Dec 2024€10.6b€15.8b€562.0m18.1x18.8x0.7x
Sat, 23 Nov 2024€10.7b€15.8b€555.2m18.1x19.2x0.7x
Mon, 21 Oct 2024€11.2b€15.5b€551.7m19.5x20.2x0.7x
Wed, 18 Sep 2024€11.1b€15.5b€563.0m18.5x19.7x0.7x
Fri, 16 Aug 2024€11.6b€15.2b€560.6m18.7x20.7x0.8x
Sun, 14 Jul 2024€12.4b€15.3b€546.1m20.1x22.7x0.8x
Tue, 11 Jun 2024€13.5b€15.3b€545.4m20.7x24.7x0.9x
Thu, 09 May 2024€12.9b€15.0b€547.2m20.3x23.5x0.9x
Sat, 06 Apr 2024€13.7b€15.0b€546.8m21x25x0.9x
Mon, 04 Mar 2024€13.8b€14.7b€454.9m22.8x30.3x0.9x
Wed, 31 Jan 2024€14.1b€14.8b€458.7m23x30.8x1x
Fri, 29 Dec 2023€13.5b€14.9b€464.3m21.7x29.2x0.9x
Sun, 26 Nov 2023€13.4b€14.8b€462.3m21.8x29.1x0.9x
Tue, 24 Oct 2023€12.5b€14.6b€457.9m19.4x27.3x0.9x
Thu, 21 Sep 2023€13.0b€14.6b€458.3m19.6x28.5x0.9x
Sat, 19 Aug 2023€13.2b€14.6b€458.6m19.4x28.9x0.9x
Mon, 17 Jul 2023€12.8b€14.3b€487.8m18.1x26.2x0.9x
Wed, 14 Jun 2023€13.1b€14.3b€487.3m19.9x26.9x0.9x
Fri, 12 May 2023€13.2b€14.0b€501.8m20.1x26.4x0.9x
Sun, 09 Apr 2023€13.9b€13.9b€496.0m21.3x28.1x1x
Tue, 07 Mar 2023€14.6b€13.8b€579.4m23.8x25.2x1.1x
Thu, 02 Feb 2023€14.8b€13.7b€579.0m24.7x25.6x1.1x
Price to Earnings Ratio

25.6x


Total Market Cap: €14.8bTotal Earnings: €579.0mTotal 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 8.3% 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 Market-0.57%
Tech-1.19%
IT1.48%
Internet Services and Infrastructure1.97%
IT Consulting1.33%
Data Processing Services0%0
Industry PE
  • Investors are most optimistic about the IT Consulting industry, which is trading close to its 3-year average PE ratio of 23.3x.
    • Analysts are expecting annual earnings growth of 16.6%, which is higher than its past year's earnings decline of 16.2% 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 1.9x.
Forecasted Growth
  • Analysts are most optimistic on the IT Consulting industry, expecting annual earnings growth of 17% over the next 5 years.
  • This is better than its past earnings decline of 16% 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
IOS IONOS Group€27.902.2%
+€78.7m		16.0%PE17.2x
YSN secunet Security Networks€205.505.5%
+€69.2m		77.2%PE41.6x
NA9 Nagarro€70.002.6%
+€22.8m		-16.8%PE18.2x
D6H DATAGROUP€70.201.4%
+€8.3m		61.4%PE26.5x
NVQ Novabase S.G.P.S€9.302.2%
+€7.5m		55.0%PE47.6x

Latest News

D6H
€70.20
DATAGROUP
7D
1.4%
1Y
61.4%

D6H: Future Dividend Cut And Modest Contracts Will Limit Upside Potential

Analysts have raised their price target on DATAGROUP from €54 to approximately €58, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E ratio that they view as better aligned with the company's current profile. What's in the News DATAGROUP SE won a contract to manage the statewide operation of the BAFSYS2 specialist procedures in North Rhine-Westphalia, covering the IT platform for BAfoG and AFBG educational funding applications from mid 2026, with preparations starting in August 2025 (Client Announcements).
BC8
€43.70
Bechtle
7D
-2.8%
1Y
39.5%

BC8: 2026 IT Spending Revival Will Support Stronger Earnings Power

Analysts have lifted their fair value estimate for Bechtle from €51.00 to €52.00, citing expectations for a 2026 IT spending revival that they view as supportive of slightly stronger revenue growth, profit margins and a lower future P/E. Analyst Commentary Bullish Takeaways Bullish analysts highlight the upgrade case as tied to expectations for an IT spending revival in 2026, which they see as supportive for Bechtle's revenue trajectory and operational execution.
IOS
€27.90
IONOS Group
7D
2.2%
1Y
16.0%

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

Analysts have trimmed their price target for IONOS Group from €38.00 to about €36.26, reflecting updated assumptions on revenue growth, profit margins, and future P/E expectations. What's in the News IONOS Group issued earnings guidance for fiscal 2026, indicating expected currency adjusted revenue growth of about 7% and about 8% excluding intercompany revenues, driven by both Web Presence & Productivity and Cloud Solutions, along with an expected increase in profitability (Corporate guidance).
COK
€28.30
Cancom
7D
-1.0%
1Y
15.8%
GFT
€20.85
GFT Technologies
7D
0.5%
1Y
-4.8%
ADN1
€84.40
adesso
7D
-5.2%
1Y
-10.4%

adesso (ETR:ADN1) Seems To Use Debt Quite Sensibly

Jan 22
adesso (ETR:ADN1) Seems To Use Debt Quite Sensibly
YSN
€205.50
secunet Security Networks
7D
5.5%
1Y
77.2%

secunet Security Networks Aktiengesellschaft's (ETR:YSN) Popularity With Investors Is Under Threat From Overpricing

Jan 21
secunet Security Networks Aktiengesellschaft's (ETR:YSN) Popularity With Investors Is Under Threat From Overpricing
A1OS
€42.60
All for One Group
7D
0.5%
1Y
-32.2%
NVQ
€9.30
Novabase S.G.P.S
7D
2.2%
1Y
55.0%
NA9
€70.00
Nagarro
7D
2.6%
1Y
-16.8%

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).
AEIN
€22.40
Allgeier
7D
-1.3%
1Y
54.0%
QBY
€0.71
q.beyond
7D
-5.6%
1Y
3.2%
SANT
€23.56
Kontron
7D
-5.7%
1Y
21.1%

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
3ITN
€12.30
audius
7D
-7.5%
1Y
9.8%
SHF
€66.80
SNP Schneider-Neureither & Partner
7D
-1.2%
1Y
49.4%
OBS
€6.15
ORBIS
7D
7.9%
1Y
3.4%