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German (DAX) IT Industry Analysis

UpdatedMar 18, 2026
DataAggregated Company Financials
Companies27
  • 7D-5.2%
  • 3M-17.3%
  • 1Y-18.4%
  • YTD-19.0%

Over the last 7 days, the IT industry has dropped 5.2%, driven by Bechtle declining 6.9%. Overall the industry is down 18% in 12 months. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 19 Mar 2026€13.3b€17.4b€733.9m28.2x18.1x0.8x
Sat, 14 Feb 2026€13.9b€17.4b€739.5m27.1x18.8x0.8x
Mon, 12 Jan 2026€16.9b€17.5b€742.3m26.2x22.7x1x
Wed, 10 Dec 2025€16.2b€17.5b€749.0m25.2x21.6x0.9x
Fri, 07 Nov 2025€14.9b€17.5b€734.3m21.9x20.3x0.9x
Sun, 05 Oct 2025€16.7b€17.4b€736.8m22.6x22.7x1x
Tue, 02 Sep 2025€17.1b€17.4b€735.9m25x23.2x1x
Thu, 31 Jul 2025€17.9b€17.3b€679.4m30x26.4x1x
Sat, 28 Jun 2025€17.8b€17.3b€684.0m26.4x26x1x
Mon, 26 May 2025€17.1b€17.3b€683.3m26.2x25x1x
Wed, 23 Apr 2025€15.3b€16.7b€690.1m22x22.2x0.9x
Fri, 21 Mar 2025€12.9b€15.8b€545.9m20x23.7x0.8x
Sun, 16 Feb 2025€11.3b€15.8b€547.1m19.4x20.6x0.7x
Tue, 14 Jan 2025€10.4b€15.8b€562.0m18x18.4x0.7x
Thu, 12 Dec 2024€10.9b€15.8b€558.4m19.2x19.5x0.7x
Sat, 09 Nov 2024€10.5b€15.7b€557.5m17.7x18.8x0.7x
Mon, 07 Oct 2024€11.6b€15.5b€554.0m20.3x20.9x0.7x
Wed, 04 Sep 2024€11.2b€15.2b€552.6m19x20.2x0.7x
Fri, 02 Aug 2024€12.3b€15.3b€548.8m20.5x22.4x0.8x
Sun, 30 Jun 2024€12.7b€15.3b€545.4m20x23.2x0.8x
Tue, 28 May 2024€13.7b€15.3b€546.1m19.9x25.1x0.9x
Thu, 25 Apr 2024€13.2b€15.0b€544.2m20.8x24.3x0.9x
Sat, 23 Mar 2024€13.3b€14.8b€469.7m23x28.4x0.9x
Mon, 19 Feb 2024€14.0b€14.7b€456.3m23.5x30.8x1x
Wed, 17 Jan 2024€13.3b€14.8b€458.9m21.8x28.9x0.9x
Fri, 15 Dec 2023€13.2b€14.8b€462.4m21.5x28.5x0.9x
Sun, 12 Nov 2023€12.9b€14.8b€480.1m19.7x26.8x0.9x
Tue, 10 Oct 2023€12.8b€14.6b€457.9m19x27.9x0.9x
Thu, 07 Sep 2023€13.4b€14.6b€455.7m20.1x29.3x0.9x
Sat, 05 Aug 2023€12.7b€14.3b€485.5m16.3x26.1x0.9x
Mon, 03 Jul 2023€12.5b€14.3b€487.8m17.9x25.6x0.9x
Wed, 31 May 2023€12.6b€14.3b€491.6m19x25.7x0.9x
Fri, 28 Apr 2023€13.7b€13.9b€493.8m20.8x27.8x1x
Sun, 26 Mar 2023€14.0b€14.1b€580.5m21.4x24.1x1x
Price to Earnings Ratio

24.1x


Total Market Cap: €14.0bTotal Earnings: €580.5mTotal Revenue: €14.1bTotal Market Cap vs Earnings and Revenue0%0%0%
German IT Industry Price to Earnings3Y Average 24.1x202420252026
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 18.1x which is lower than its 3-year average PE of 24.1x.
  • The industry is trading close to its 3-year average PS ratio of 0.88x.
Past Earnings Growth
  • The earnings for companies in the IT industry have grown 8.1% per year over the last three years.
  • Revenues for these companies have grown 7.3% 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-0.34%
Tech-2.18%
IT-5.25%
Data Processing Services0%0
IT Consulting-4.90%
Internet Services and Infrastructure-6.38%
Industry PE
  • Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 23.1x.
    • Analysts are expecting annual earnings growth of 15.6%, 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 3.1x.
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 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
GFT GFT Technologies€18.200.7%
+€3.1m		-19.1%PE14.5x
NVQ Novabase S.G.P.S€8.900.6%
+€1.9m		21.9%PE45.6x
6OK SolidX€0.2518.1%
+€1.4m		35.5%PS0.7x
RTC RealTech€1.144.6%
+€269.3k		-7.3%PE67.2x
KSC KPS€0.370.8%
+€123.5k		-56.8%PS0.1x

Latest News

PDA0
€2.24
PRO DV
7D
1.8%
1Y
-5.9%
KSC
€0.37
KPS
7D
0.8%
1Y
-56.8%
GFT
€18.20
GFT Technologies
7D
0.7%
1Y
-19.1%
D6H
€74.10
DATAGROUP
7D
-2.4%
1Y
64.7%

D6H: New Public Contract And Dividend Resolution Will Support Stronger Outlook

Analysts have maintained their price target for DATAGROUP at €86.0, with only minor adjustments to inputs such as the discount rate and assumed future P/E. This reflects a largely unchanged view of the company’s long term earnings profile.
YSN
€186.40
secunet Security Networks
7D
-4.6%
1Y
-14.1%

YSN: 2026 Guidance And M&A Capacity Will Support Further Upside

Analysts have kept their €244.25 price target for secunet Security Networks unchanged, pointing to only very small tweaks in assumptions around the discount rate, revenue growth, profit margin and future P/E as the main drivers of this stable view. What's in the News Management is open to inorganic growth, with the CFO highlighting that the company is considering acquisitions and investments alongside organic growth (Key Developments).
NA9
€49.62
Nagarro
7D
-4.0%
1Y
-38.1%

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RTC
€1.14
RealTech
7D
4.6%
1Y
-7.3%
BC8
€30.44
Bechtle
7D
-6.9%
1Y
-25.4%

BC8: Refined Discount Rate Framework Will Support Undervalued Outlook After Guidance Confirmation

Analysts have trimmed their price target on Bechtle by €1, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E that align with recent Street research. Analyst Commentary Bullish Takeaways Bullish analysts view the modest €1 reduction in the price target as a fine tuning of their models rather than a shift in their broader view on Bechtle, with fair value assumptions still supported by current Street research.
IOS
€21.30
IONOS Group
7D
-6.2%
1Y
-16.5%

IOS: Medium Term Guidance And Steady Margins Will Support Strong Returns

Analysts have modestly lifted their price target for IONOS Group to €34.63, citing a slightly higher discount rate and updated long term assumptions around revenue growth, profit margins and future P/E as the main drivers of the change. What's in the News IONOS Group SE issued earnings guidance for fiscal 2026, giving investors a clearer view of management expectations for the next financial year.
COK
€22.45
Cancom
7D
-3.4%
1Y
-20.8%
ADN1
€59.40
adesso
7D
-6.6%
1Y
-42.4%
6OK
€0.25
SolidX
7D
18.1%
1Y
35.5%
SANT
€21.48
Kontron
7D
-5.2%
1Y
-16.0%

Do Kontron's (ETR:SANT) Earnings Warrant Your Attention?

Feb 06
Do Kontron's (ETR:SANT) Earnings Warrant Your Attention?
NVQ
€8.90
Novabase S.G.P.S
7D
0.6%
1Y
21.9%