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German (DAX) IT Industry Analysis

UpdatedDec 30, 2025
DataAggregated Company Financials
Companies28
  • 7D0.5%
  • 3M-6.7%
  • 1Y24.3%
  • YTD22.4%

The IT industry has stayed flat over the last week. As for the the longer term, the industry is up 22% over the past 12 months. 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
Tue, 30 Dec 2025€16.5b€17.5b€744.4m25.4x22.1x0.9x
Thu, 27 Nov 2025€15.9b€17.4b€752.8m23.3x21.1x0.9x
Sat, 25 Oct 2025€16.2b€17.4b€736.8m21.7x22x0.9x
Mon, 22 Sep 2025€17.8b€17.4b€735.3m27.4x24.2x1x
Wed, 20 Aug 2025€17.2b€17.4b€739.4m24.8x23.2x1x
Fri, 18 Jul 2025€18.3b€17.3b€684.2m27.4x26.7x1.1x
Sun, 15 Jun 2025€17.7b€17.3b€684.1m26.9x25.9x1x
Tue, 13 May 2025€17.3b€17.2b€690.4m25.4x25.1x1x
Thu, 10 Apr 2025€14.2b€17.0b€710.7m20.5x20x0.8x
Sat, 08 Mar 2025€12.6b€15.9b€550.6m19.8x23x0.8x
Mon, 03 Feb 2025€11.1b€15.8b€544.5m19.5x20.5x0.7x
Wed, 01 Jan 2025€10.6b€15.8b€562.0m18.1x18.9x0.7x
Fri, 29 Nov 2024€10.6b€15.8b€558.4m18.1x19x0.7x
Sun, 27 Oct 2024€10.8b€15.5b€551.7m19.2x19.6x0.7x
Tue, 24 Sep 2024€11.2b€15.5b€563.9m19.2x19.9x0.7x
Thu, 22 Aug 2024€11.5b€15.2b€559.1m18.9x20.5x0.8x
Sat, 20 Jul 2024€12.2b€15.3b€546.1m20.2x22.4x0.8x
Mon, 17 Jun 2024€12.9b€15.3b€545.4m20.3x23.7x0.8x
Wed, 15 May 2024€13.2b€15.0b€546.2m21.1x24.1x0.9x
Fri, 12 Apr 2024€13.6b€15.0b€546.8m20.8x24.8x0.9x
Sun, 10 Mar 2024€13.6b€14.7b€445.4m23.4x30.6x0.9x
Tue, 06 Feb 2024€13.9b€14.7b€459.7m22.3x30.3x0.9x
Thu, 04 Jan 2024€13.1b€14.8b€458.9m21.1x28.5x0.9x
Sat, 02 Dec 2023€13.2b€14.8b€462.4m21x28.5x0.9x
Mon, 30 Oct 2023€12.0b€14.6b€461.0m19.8x26.1x0.8x
Wed, 27 Sep 2023€12.6b€14.6b€458.4m18.5x27.5x0.9x
Fri, 25 Aug 2023€13.3b€14.6b€458.6m19x29x0.9x
Sun, 23 Jul 2023€12.7b€14.3b€487.8m18.1x26.1x0.9x
Tue, 20 Jun 2023€13.0b€14.3b€486.9m19.8x26.8x0.9x
Thu, 18 May 2023€12.9b€13.9b€494.7m20.3x26x0.9x
Sat, 15 Apr 2023€14.3b€13.9b€486.7m22x29.3x1x
Mon, 13 Mar 2023€14.1b€13.8b€579.4m22.6x24.3x1x
Wed, 08 Feb 2023€14.9b€13.7b€579.0m25.2x25.7x1.1x
Fri, 06 Jan 2023€13.1b€13.7b€576.6m23.1x22.7x1x
Price to Earnings Ratio

22.7x


Total Market Cap: €13.1bTotal Earnings: €576.6mTotal Revenue: €13.7bTotal Market Cap vs Earnings and Revenue0%0%0%
German IT Industry Price to Earnings3Y Average 24.4x20242025
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 21.9x 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 8.9% 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 Market0.32%
Tech0.06%
IT0.50%
Internet Services and Infrastructure1.60%
IT Consulting0.16%
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 23.2x.
    • Analysts are expecting annual earnings growth of 16.3%, which is higher than its past year's earnings decline of 14.0% 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 1.3x.
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 14% 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
IOS IONOS Group€27.051.7%
+€62.1m		23.8%PE16.8x
YSN secunet Security Networks€183.402.2%
+€25.9m		57.6%PE37.1x
AEIN Allgeier€20.804.0%
+€9.2m		38.2%PE258.5x
SANT Kontron€22.820.6%
+€8.6m		17.3%PE10.3x
KSC KPS€0.6130.0%
+€5.8m		-23.5%PS0.2x

Latest News

YSN
€183.40
secunet Security Networks
7D
2.2%
1Y
57.6%
IOS
€27.05
IONOS Group
7D
1.7%
1Y
23.8%

IOS: Share Buybacks And New CFO Will Support Stronger Outlook

Analysts have trimmed their price target on IONOS Group from €47.00 to €45.50. This reflects a modestly higher discount rate, even as they acknowledge slightly stronger expectations for revenue growth and profitability.
BC8
€43.40
Bechtle
7D
-0.2%
1Y
39.5%

BC8: 2026 IT Spending Revival Expectations Will Likely Prove Overly Optimistic

Analysts have raised their price target on Bechtle to approximately EUR 34.50 from about EUR 33.90, citing improving expectations for a 2026 IT spending revival and stronger organic growth prospects in the German IT reseller market. Analyst Commentary While recent research notes highlight an improving outlook for Bechtle into 2026, not all commentary is uniformly positive.
A1OS
€41.20
All for One Group
7D
2.7%
1Y
-29.0%

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
AEIN
€20.80
Allgeier
7D
4.0%
1Y
38.2%
D6H
€69.90
DATAGROUP
7D
-0.1%
1Y
51.0%

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

Analysts have nudged their price target on DATAGROUP slightly higher to €66.00, citing incremental improvements in discount rate assumptions and modestly refined expectations for long term earnings multiples that together support a steady fair value outlook. What's in the News Won a five year contract from Heidelberger Druckmaschinen AG to migrate and operate its extensive SAP system landscape in the DATAGROUP Enterprise Cloud in Frankfurt, with project volume in the mid single digit million euro range (Client Announcements).
SANT
€22.82
Kontron
7D
0.6%
1Y
17.3%

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
NA9
€76.90
Nagarro
7D
-0.1%
1Y
-2.8%

NA9: Share Buybacks Are Expected To Drive Future Shareholder Value

Analysts have modestly revised their price target for Nagarro, keeping fair value broadly unchanged at €90.25. They have slightly lowered the discount rate and forward P/E assumptions as they factor in a marginally improved risk profile and stable long term growth and profitability expectations.
COK
€26.75
Cancom
7D
-0.9%
1Y
15.1%

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
€19.00
GFT Technologies
7D
-0.8%
1Y
-14.0%
KSC
€0.61
KPS
7D
30.0%
1Y
-23.5%
3ITN
€12.20
audius
7D
1.7%
1Y
6.1%
ADN1
€88.50
adesso
7D
0.7%
1Y
0.6%
QBY
€0.71
q.beyond
7D
-0.8%
1Y
-3.0%

q.beyond AG (ETR:QBY) Just Reported Earnings, And Analysts Cut Their Target Price

Nov 13
q.beyond AG (ETR:QBY) Just Reported Earnings, And Analysts Cut Their Target Price
SHF
€66.80
SNP Schneider-Neureither & Partner
7D
-1.2%
1Y
49.4%
NVQ
€8.60
Novabase S.G.P.S
7D
-1.1%
1Y
50.9%

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