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German (DAX) IT Industry Analysis

UpdatedJun 05, 2026
DataAggregated Company Financials
Companies28
  • 7D4.6%
  • 3M6.3%
  • 1Y-16.7%
  • YTD-7.2%

Over the last 7 days, the IT industry has risen 4.6%, driven by gains from IONOS Group of 12%. In the past year, the industry is down 17%. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 05 Jun 2026€15.7b€17.6b€816.3m23.9x19.2x0.9x
Sun, 03 May 2026€14.1b€17.4b€777.9m21.6x18.2x0.8x
Tue, 31 Mar 2026€12.8b€17.1b€745.6m27.3x17.2x0.7x
Thu, 26 Feb 2026€13.4b€17.4b€736.0m27.2x18.2x0.8x
Sat, 24 Jan 2026€16.7b€17.4b€743.1m26.5x22.5x1x
Mon, 22 Dec 2025€16.3b€17.5b€744.4m25.4x21.9x0.9x
Wed, 19 Nov 2025€15.3b€17.4b€752.8m22.6x20.4x0.9x
Fri, 17 Oct 2025€16.1b€17.4b€736.8m22.1x21.9x0.9x
Sun, 14 Sep 2025€16.9b€17.4b€735.3m25.5x23x1x
Tue, 12 Aug 2025€17.8b€17.5b€741.8m27x24x1x
Thu, 10 Jul 2025€18.2b€17.3b€684.2m27.1x26.6x1.1x
Sat, 07 Jun 2025€18.1b€17.3b€684.1m27.1x26.5x1x
Mon, 05 May 2025€16.5b€16.7b€696.0m23.6x23.7x1x
Wed, 02 Apr 2025€15.3b€17.0b€712.0m21.2x21.5x0.9x
Fri, 28 Feb 2025€11.2b€15.8b€547.3m19.4x20.5x0.7x
Sun, 26 Jan 2025€10.8b€15.8b€562.0m19.1x19.3x0.7x
Tue, 24 Dec 2024€10.6b€15.8b€562.0m18.1x18.8x0.7x
Thu, 21 Nov 2024€10.6b€15.8b€559.6m18.8x18.9x0.7x
Sat, 19 Oct 2024€11.2b€15.5b€551.7m19.5x20.2x0.7x
Mon, 16 Sep 2024€11.1b€15.5b€563.0m18.4x19.7x0.7x
Wed, 14 Aug 2024€11.5b€15.1b€557.6m19x20.6x0.8x
Fri, 12 Jul 2024€12.5b€15.3b€546.1m20.4x22.8x0.8x
Sun, 09 Jun 2024€13.5b€15.3b€545.4m20.7x24.7x0.9x
Tue, 07 May 2024€13.2b€15.0b€548.2m19.2x24x0.9x
Thu, 04 Apr 2024€13.6b€15.0b€546.8m20.6x24.9x0.9x
Sat, 02 Mar 2024€13.8b€14.7b€454.9m22.8x30.2x0.9x
Mon, 29 Jan 2024€14.2b€14.8b€458.7m22.7x31.1x1x
Wed, 27 Dec 2023€13.5b€14.9b€464.3m21.4x29x0.9x
Fri, 24 Nov 2023€13.4b€14.8b€462.3m21.7x29x0.9x
Sun, 22 Oct 2023€12.4b€14.6b€457.9m19.2x27.1x0.8x
Tue, 19 Sep 2023€13.0b€14.6b€457.3m20x28.4x0.9x
Thu, 17 Aug 2023€13.3b€14.6b€458.6m19x29x0.9x
Sat, 15 Jul 2023€12.8b€14.3b€487.8m18.1x26.1x0.9x
Mon, 12 Jun 2023€12.6b€14.3b€491.9m18.5x25.6x0.9x
Price to Earnings Ratio

25.6x


Total Market Cap: €12.6bTotal Earnings: €491.9mTotal Revenue: €14.3bTotal Market Cap vs Earnings and Revenue0%0%0%
German IT Industry Price to Earnings3Y Average 23.5x202420252026
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 19.2x which is lower than its 3-year average PE of 23.5x.
  • The industry is trading close to its 3-year average PS ratio of 0.86x.
Past Earnings Growth
  • The earnings for companies in the IT industry have grown 18% per year over the last three years.
  • Revenues for these companies have grown 7.1% 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 Market-0.83%
Tech6.78%
IT4.57%
Internet Services and Infrastructure11.84%
IT Consulting2.11%
Data Processing Services0%0
Industry PE
  • Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 22.6x.
    • Analysts are expecting annual earnings growth of 13.2%, which is higher than its past year's earnings growth of 3.8% 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 4.6x.
Forecasted Growth
  • Analysts are most optimistic on the Internet Services and Infrastructure industry, expecting annual earnings growth of 15% over the next 5 years.
  • However this is lower than its past earnings growth rate of 71% per year.
  • In contrast, the IT Consulting industry is expected to see its earnings grow by 13% 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€30.1612.1%
+€447.2m		-29.0%PE18.6x
BC8 Bechtle€32.985.2%
+€206.6m		-17.2%PE17.7x
GFT GFT Technologies€23.154.0%
+€23.0m		-2.9%PE17.2x
NA9 Nagarro€41.824.5%
+€22.3m		-28.6%PE10.9x
KTN Kontron€23.440.7%
+€10.0m		1.8%PE11.1x

Latest News

YSN
€205.00
secunet Security Networks
7D
-0.2%
1Y
-10.3%
Narrative Update • Jun 02

YSN: 2026 Guidance And Dividend Will Support Further Upside

Analysts now maintain their €239.67 price target for secunet Security Networks while fine tuning assumptions around discount rate, revenue growth, profit margin and future P/E to reflect updated expectations for the business profile and perceived risk. What's in the News secunet Security Networks confirmed earnings guidance for 2026, with management continuing to expect revenue in a range of €460 million to €500 million and EBIT between €53 million and €58 million.
IOS
€30.16
IONOS Group
7D
12.1%
1Y
-29.0%
Narrative Update • Jun 01

IOS: AI Adoption And Strong Margins Will Support Future Upside Potential

Analysts have reduced their price target on IONOS Group from €44.40 to €40.00. This change reflects updated assumptions around fair value, discount rate, revenue growth, profit margins and future P/E expectations.
D6H0
€75.00
DATAGROUP
7D
-3.5%
1Y
30.9%
KTN
€23.44
Kontron
7D
0.7%
1Y
1.8%
A1OS
€32.60
All for One Group
7D
-1.2%
1Y
-40.5%
Narrative Update • May 31

A1OS: Higher Discount Rate Will Set Up Future Repricing Opportunity

Analysts have cut their price target on All for One Group from €78.85 to €46.00, citing updated assumptions for fair value, a higher discount rate and a lower future P/E multiple, partly offset by slightly adjusted revenue growth and profit margin expectations. What's in the News Management revised earnings guidance for the 2025/26 financial year, with expected consolidated revenue in a range of €500 million to €530 million, now including the apsolut Group from March 2026 (Corporate Guidance).
OBS
€5.40
ORBIS
7D
8.0%
1Y
-25.5%
BC8
€32.98
Bechtle
7D
5.2%
1Y
-17.2%
Narrative Update • May 25

BC8: Updated P E Framework Will Support Undervalued Outlook On Mixed Street Repricing

Analysts have nudged their price target on Bechtle slightly higher to €39.00, citing updated assumptions for discount rates, revenue growth, profit margins and future P/E that align with recent price target changes and upgrades in Street research. Analyst Commentary Recent Street research on Bechtle has been mixed, with some analysts lifting price targets while others have trimmed theirs.
NA9
€41.82
Nagarro
7D
4.5%
1Y
-28.6%
AEIN
€16.60
Allgeier
7D
-2.6%
1Y
-15.7%
3ITN
€13.20
audius
7D
-4.3%
1Y
11.9%
NVQ
€8.78
Novabase S.G.P.S
7D
-2.4%
1Y
-0.2%
COK
€27.65
Cancom
7D
0.9%
1Y
-9.5%
GFT
€23.15
GFT Technologies
7D
4.0%
1Y
-2.9%
SHF
€84.00
SNP Schneider-Neureither & Partner
7D
0.7%
1Y
15.7%
AMI
€0.13
medondo holding
7D
-11.6%
1Y
-65.8%
KSC
€0.26
KPS
7D
-24.7%
1Y
-70.4%