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German (DAX) IT Industry Analysis

UpdatedJan 30, 2026
DataAggregated Company Financials
Companies27
  • 7D-1.1%
  • 3M7.2%
  • 1Y19.0%
  • YTD1.9%

Over the last 7 days, the IT industry has dropped 1.1%, driven by declines in Bechtle and IONOS Group of 2.5% and 3.5%, respectively. In contrast, secunet Security Networks has gained 14%. In the past year, the industry has gained 19%. 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
Fri, 30 Jan 2026€16.6b€17.4b€743.1m26.7x22.4x1x
Sun, 28 Dec 2025€16.3b€17.5b€744.4m25.3x21.9x0.9x
Tue, 25 Nov 2025€15.8b€17.4b€752.8m22.7x21x0.9x
Thu, 23 Oct 2025€16.1b€17.4b€736.8m21.8x21.8x0.9x
Sat, 20 Sep 2025€17.8b€17.4b€735.3m27.4x24.2x1x
Mon, 18 Aug 2025€17.3b€17.4b€739.4m25.7x23.4x1x
Wed, 16 Jul 2025€17.9b€17.3b€684.2m26.9x26.1x1x
Fri, 13 Jun 2025€17.8b€17.3b€684.1m26.9x26.1x1x
Sun, 11 May 2025€16.8b€17.2b€690.1m25.4x24.4x1x
Tue, 08 Apr 2025€14.4b€17.0b€710.7m21.2x20.3x0.8x
Thu, 06 Mar 2025€12.6b€15.8b€547.3m19.7x23x0.8x
Sat, 01 Feb 2025€11.1b€15.8b€562.0m19.5x19.8x0.7x
Mon, 30 Dec 2024€10.8b€15.8b€562.0m18.2x19.1x0.7x
Wed, 27 Nov 2024€10.7b€15.8b€558.4m18.1x19.2x0.7x
Fri, 25 Oct 2024€10.8b€15.5b€551.7m19.2x19.6x0.7x
Sun, 22 Sep 2024€11.2b€15.5b€563.9m19.2x19.9x0.7x
Tue, 20 Aug 2024€11.6b€15.2b€558.0m18.9x20.7x0.8x
Thu, 18 Jul 2024€12.2b€15.3b€546.1m19.9x22.4x0.8x
Sat, 15 Jun 2024€13.0b€15.3b€545.4m20.3x23.8x0.8x
Mon, 13 May 2024€13.1b€15.0b€547.3m20.2x23.9x0.9x
Wed, 10 Apr 2024€13.7b€15.0b€546.8m20.8x25x0.9x
Fri, 08 Mar 2024€13.9b€14.7b€454.9m23.5x30.6x1x
Sun, 04 Feb 2024€14.1b€14.8b€458.7m22.8x30.6x0.9x
Tue, 02 Jan 2024€13.6b€14.8b€458.9m21.7x29.6x0.9x
Thu, 30 Nov 2023€13.5b€14.8b€462.4m22.1x29.3x0.9x
Sat, 28 Oct 2023€12.0b€14.7b€461.0m19.8x26.1x0.8x
Mon, 25 Sep 2023€13.0b€14.6b€458.4m19.5x28.3x0.9x
Wed, 23 Aug 2023€13.2b€14.6b€458.6m19x28.7x0.9x
Fri, 21 Jul 2023€12.8b€14.3b€487.8m18.1x26.2x0.9x
Sun, 18 Jun 2023€13.1b€14.3b€486.9m19.7x26.9x0.9x
Tue, 16 May 2023€13.1b€13.9b€494.7m20.1x26.4x0.9x
Thu, 13 Apr 2023€13.9b€13.9b€486.7m21.3x28.5x1x
Sat, 11 Mar 2023€14.1b€13.8b€579.4m22.6x24.3x1x
Mon, 06 Feb 2023€15.2b€13.7b€579.0m25.7x26.2x1.1x
Price to Earnings Ratio

26.2x


Total Market Cap: €15.2bTotal 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-1.70%
Tech-9.73%
IT-1.10%
Data Processing Services0%0
IT Consulting-0.43%
Internet Services and Infrastructure-3.24%
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 2.0x.
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
YSN secunet Security Networks€233.5014.2%
+€187.6m		79.6%PE47.3x
NA9 Nagarro€70.351.1%
+€9.5m		-17.1%PE18.2x
NVQ Novabase S.G.P.S€9.352.2%
+€7.5m		59.8%PE47.9x
QBY q.beyond€0.807.5%
+€7.0m		11.7%PS0.5x
3ITN audius€13.7010.5%
+€6.4m		22.9%PE39.2x

Latest News

AEIN
€22.00
Allgeier
7D
-2.7%
1Y
42.9%
COK
€28.10
Cancom
7D
-2.3%
1Y
11.3%

Is Cancom SE (ETR:COK) Potentially Undervalued?

Jan 29
Is Cancom SE (ETR:COK) Potentially Undervalued?
BC8
€42.88
Bechtle
7D
-2.5%
1Y
34.8%
QBY
€0.80
q.beyond
7D
7.5%
1Y
11.7%
NA9
€70.35
Nagarro
7D
1.1%
1Y
-17.1%

NA9: AI Partnership And Share Buybacks Will Support Future Shareholder Value

Analysts have kept their fair value estimate for Nagarro steady at €90.25, with only small tweaks to discount rate and forward P/E assumptions. This signals that their view on the stock’s overall risk and earnings profile is broadly unchanged.
YSN
€233.50
secunet Security Networks
7D
14.2%
1Y
79.6%

YSN: Stable 2025 Margin Outlook Will Support Fair Value Assessment

Analysts have nudged their price target for secunet Security Networks to €228.75, a change they link to slightly adjusted assumptions for discount rate, revenue growth, profit margin and future P/E that keep their fair value view broadly unchanged. What's in the News Management confirmed full year 2025 revenue expectations at around €425 million, keeping the topline outlook unchanged for the period (Key Developments).
IOS
€27.20
IONOS Group
7D
-3.5%
1Y
7.9%

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).
GFT
€20.70
GFT Technologies
7D
-2.1%
1Y
-8.0%
ADN1
€80.70
adesso
7D
-6.1%
1Y
-14.8%

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

Jan 22
adesso (ETR:ADN1) Seems To Use Debt Quite Sensibly
NVQ
€9.35
Novabase S.G.P.S
7D
2.2%
1Y
59.8%
SANT
€23.12
Kontron
7D
-3.6%
1Y
18.3%

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
C1V
€7.10
mVISE
7D
30.3%
1Y
-8.4%
3ITN
€13.70
audius
7D
10.5%
1Y
22.9%
SHF
€66.80
SNP Schneider-Neureither & Partner
7D
-1.2%
1Y
49.4%
OBS
€6.10
ORBIS
7D
8.0%
1Y
3.4%
T3T1
€5.20
Seven Principles
7D
8.3%
1Y
-1.9%