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German (DAX) IT Industry Analysis

UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies27
  • 7D-0.7%
  • 3M-16.6%
  • 1Y-0.7%
  • YTD-15.0%

Over the last 7 days, the IT industry has remained flat, although notably IONOS Group declined by 3.8%. In line with that, the industry has also been flat over the past 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
Fri, 27 Feb 2026€13.9b€17.4b€736.0m27.5x18.9x0.8x
Sun, 25 Jan 2026€16.7b€17.4b€743.1m26.5x22.5x1x
Tue, 23 Dec 2025€16.3b€17.5b€744.4m25.5x22x0.9x
Thu, 20 Nov 2025€15.5b€17.4b€752.8m22.6x20.6x0.9x
Sat, 18 Oct 2025€15.7b€17.4b€736.8m21.4x21.3x0.9x
Mon, 15 Sep 2025€16.9b€17.4b€735.3m25.5x23x1x
Wed, 13 Aug 2025€16.8b€17.4b€742.6m24.5x22.6x1x
Fri, 11 Jul 2025€18.2b€17.3b€684.2m27.4x26.5x1x
Sun, 08 Jun 2025€18.1b€17.3b€684.1m27.1x26.5x1x
Tue, 06 May 2025€16.6b€16.7b€696.0m23.6x23.9x1x
Thu, 03 Apr 2025€15.4b€17.0b€711.6m21.6x21.6x0.9x
Sat, 01 Mar 2025€11.2b€15.8b€547.3m19.4x20.5x0.7x
Mon, 27 Jan 2025€10.8b€15.8b€562.0m19.1x19.2x0.7x
Wed, 25 Dec 2024€10.6b€15.8b€562.0m18.1x18.8x0.7x
Fri, 22 Nov 2024€10.7b€15.8b€555.2m18.7x19.2x0.7x
Sun, 20 Oct 2024€11.2b€15.5b€551.7m19.5x20.2x0.7x
Tue, 17 Sep 2024€11.0b€15.5b€563.0m18.4x19.6x0.7x
Thu, 15 Aug 2024€11.5b€15.1b€556.1m19.3x20.6x0.8x
Sat, 13 Jul 2024€12.4b€15.3b€546.1m20.1x22.7x0.8x
Mon, 10 Jun 2024€13.5b€15.3b€545.4m20.7x24.7x0.9x
Wed, 08 May 2024€13.2b€15.0b€545.6m20.2x24.2x0.9x
Fri, 05 Apr 2024€13.8b€15.0b€546.8m21x25.2x0.9x
Sun, 03 Mar 2024€13.8b€14.7b€454.9m22.8x30.3x0.9x
Tue, 30 Jan 2024€14.3b€14.8b€458.7m23.2x31.1x1x
Thu, 28 Dec 2023€13.6b€14.9b€464.3m21.6x29.3x0.9x
Sat, 25 Nov 2023€13.5b€14.8b€462.3m21.8x29.1x0.9x
Mon, 23 Oct 2023€12.4b€14.6b€457.9m19.2x27.1x0.8x
Wed, 20 Sep 2023€12.9b€14.6b€457.3m19.4x28.2x0.9x
Fri, 18 Aug 2023€13.2b€14.6b€458.6m19.3x28.8x0.9x
Sun, 16 Jul 2023€12.8b€14.3b€487.8m18.1x26.2x0.9x
Tue, 13 Jun 2023€12.8b€14.3b€487.3m19.7x26.3x0.9x
Thu, 11 May 2023€14.0b€14.0b€501.8m21.3x27.8x1x
Sat, 08 Apr 2023€13.9b€13.9b€496.0m21.3x28.1x1x
Mon, 06 Mar 2023€14.5b€13.8b€579.4m23.8x25.1x1.1x
Price to Earnings Ratio

25.1x


Total Market Cap: €14.5bTotal Earnings: €579.4mTotal Revenue: €13.8bTotal Market Cap vs Earnings and Revenue0%0%0%
German IT Industry Price to Earnings3Y Average 24.2x202420252026
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 18.9x which is lower than its 3-year average PE of 24.2x.
  • 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 8.3% per year over the last three years.
  • Revenues for these companies have grown 8.1% 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 Market0.62%
Tech1.30%
IT-0.67%
IT Consulting0.26%
Data Processing Services0%0
Internet Services and Infrastructure-3.65%
Industry PE
  • Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 23.2x.
    • Analysts are expecting annual earnings growth of 14.9%, 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 2.7x.
Forecasted Growth
  • Analysts are most optimistic on the Internet Services and Infrastructure industry, expecting annual earnings growth of 15% over the next 5 years.
  • This is better than its past earnings decline of 5.9% per year.
  • In contrast, the IT Consulting 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
BC8 Bechtle€34.203.6%
+€151.2m		4.0%PE20x
GFT GFT Technologies€15.827.2%
+€27.8m		-20.9%PE11.9x
D6H DATAGROUP€72.601.4%
+€8.3m		79.5%PE27.4x
SANT Kontron€23.480.3%
+€4.9m		12.1%PE10.6x
ADN1 adesso€62.401.0%
+€3.8m		-25.4%PE29.8x

Latest News

ADN1
€62.40
adesso
7D
1.0%
1Y
-25.4%
D6H
€72.60
DATAGROUP
7D
1.4%
1Y
79.5%

D6H: New Public Sector Contract Will Support A More Positive Outlook

Analysts have kept their price target for DATAGROUP steady at €86.0, citing largely unchanged assumptions for fair value, long term discount rate, revenue growth, profit margin, and future P/E. What's in the News DATAGROUP SE received a contract to manage the statewide operation of the BAFSYS2 specialist procedures in North Rhine-Westphalia, covering the IT platform for processing educational funding applications under BAfoG and AFBG, with preparatory work starting in August 2025 and full operation scheduled from mid 2026 (Key Developments).
NA9
€56.30
Nagarro
7D
-9.6%
1Y
-31.8%

NA9: AI Partnership And Stable Profit Outlook Will Support Future Upside

Analysts have raised their Nagarro price target to €89.75. This reflects updated assumptions for a slightly higher discount rate and future P/E multiple while keeping the underlying fair value estimate unchanged at €89.75.
OBS
€4.80
ORBIS
7D
-17.2%
1Y
-18.6%
YSN
€189.80
secunet Security Networks
7D
-3.7%
1Y
43.8%

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

Analysts have kept their €244.25 price target for secunet Security Networks unchanged, as a slightly higher discount rate and revised future P/E assumptions have offset each other in their updated models. What's in the News Management issued earnings guidance for fiscal 2026, with group revenue targeted in a range of €460 million to €500 million.
RTC
€1.17
RealTech
7D
14.7%
1Y
-3.3%
IOS
€23.15
IONOS Group
7D
-1.9%
1Y
-3.1%
BC8
€34.20
Bechtle
7D
3.6%
1Y
4.0%

BC8: Higher Future P/E Expectations Will Support Stronger 2026 Earnings Power

Analysts have raised their fair value estimate for Bechtle from €52.00 to €56.00, reflecting updated assumptions on discount rate, revenue growth, profit margin and future P/E expectations, even as some recent research, including a €1 trim to the price target at Deutsche Bank, points to a more cautious stance on near term performance drivers. Analyst Commentary Bullish analysts point to the higher fair value estimate of €56.00 as a signal that their core assumptions on discount rate, revenue growth, profit margins and future P/E have shifted in a more constructive direction, even if some individual price targets, such as the recent €1 trim, look slightly more cautious on the surface.
AEIN
€17.30
Allgeier
7D
-3.6%
1Y
14.2%
6OK
€0.23
SolidX
7D
12.7%
1Y
17.3%
GFT
€15.82
GFT Technologies
7D
7.2%
1Y
-20.9%
A1OS
€37.50
All for One Group
7D
0.5%
1Y
-28.4%
COK
€23.85
Cancom
7D
-0.8%
1Y
-5.1%
SANT
€23.48
Kontron
7D
0.3%
1Y
12.1%

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

Feb 06
Do Kontron's (ETR:SANT) Earnings Warrant Your Attention?
SHF
€66.80
SNP Schneider-Neureither & Partner
7D
-1.2%
1Y
49.4%
NVQ
€9.00
Novabase S.G.P.S
7D
-2.7%
1Y
25.9%