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German (DAX) IT Industry Analysis

UpdatedDec 18, 2025
DataAggregated Company Financials
Companies28
  • 7D-0.3%
  • 3M-8.6%
  • 1Y21.2%
  • YTD20.0%

Last week, the IT industry hasn't moved much but IONOS Group is up 3.1% in that time. The past year has been better, since the industry has gained 21% in that time. Looking forward, 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, 19 Dec 2025€16.1b€17.5b€744.4m25.3x21.7x0.9x
Sun, 16 Nov 2025€15.7b€17.4b€754.5m23.5x20.8x0.9x
Tue, 14 Oct 2025€16.1b€17.4b€736.8m21.8x21.9x0.9x
Thu, 11 Sep 2025€16.7b€17.4b€735.5m24.9x22.8x1x
Sat, 09 Aug 2025€17.9b€17.4b€728.7m28.1x24.6x1x
Mon, 07 Jul 2025€17.4b€17.3b€684.2m27.1x25.5x1x
Wed, 04 Jun 2025€18.0b€17.3b€684.1m25.9x26.3x1x
Fri, 02 May 2025€15.9b€16.7b€690.1m22.2x23x0.9x
Sun, 30 Mar 2025€15.7b€17.0b€717.8m19.1x21.8x0.9x
Tue, 25 Feb 2025€11.4b€15.8b€547.3m19.5x20.8x0.7x
Thu, 23 Jan 2025€10.7b€15.8b€562.0m18.9x19x0.7x
Sat, 21 Dec 2024€10.5b€15.8b€562.0m18.3x18.7x0.7x
Mon, 18 Nov 2024€10.7b€15.8b€559.6m18.8x19.2x0.7x
Wed, 16 Oct 2024€11.1b€15.5b€551.7m19.6x20.1x0.7x
Fri, 13 Sep 2024€11.0b€15.5b€563.0m18.4x19.5x0.7x
Sun, 11 Aug 2024€11.6b€15.5b€561.8m18.8x20.7x0.8x
Tue, 09 Jul 2024€12.5b€15.3b€546.1m19.4x22.9x0.8x
Thu, 06 Jun 2024€13.5b€15.3b€545.4m20.4x24.7x0.9x
Sat, 04 May 2024€13.1b€15.0b€547.5m18.8x24x0.9x
Mon, 01 Apr 2024€13.6b€15.0b€487.8m22.2x27.9x0.9x
Wed, 28 Feb 2024€13.8b€14.7b€455.0m23.3x30.4x0.9x
Fri, 26 Jan 2024€14.1b€14.8b€458.7m22.8x30.6x0.9x
Sun, 24 Dec 2023€13.5b€14.9b€464.3m21.4x29x0.9x
Tue, 21 Nov 2023€13.8b€14.9b€458.2m21.3x30x0.9x
Thu, 19 Oct 2023€12.6b€14.6b€457.9m19.4x27.4x0.9x
Sat, 16 Sep 2023€13.2b€14.6b€453.8m21.5x29x0.9x
Mon, 14 Aug 2023€13.1b€14.5b€481.8m17.5x27.2x0.9x
Wed, 12 Jul 2023€12.4b€14.3b€487.8m18x25.4x0.9x
Fri, 09 Jun 2023€12.6b€14.3b€491.9m18.4x25.5x0.9x
Sun, 07 May 2023€14.1b€14.0b€500.1m21.3x28.3x1x
Tue, 04 Apr 2023€14.2b€13.8b€497.4m21.2x28.5x1x
Thu, 02 Mar 2023€14.5b€13.8b€579.4m24.4x24.9x1.1x
Sat, 28 Jan 2023€14.6b€13.7b€576.5m25.2x25.3x1.1x
Mon, 26 Dec 2022€12.6b€13.7b€576.6m22.3x21.8x0.9x
Price to Earnings Ratio

21.8x


Total Market Cap: €12.6bTotal Earnings: €576.6mTotal Revenue: €13.7bTotal Market Cap vs Earnings and Revenue0%0%0%
German IT Industry Price to Earnings3Y Average 24.4x202320242025
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 21.7x 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 Market-0.52%
Tech-2.11%
IT-0.33%
Data Processing Services0%0
IT Consulting-0.068%
Internet Services and Infrastructure-1.21%
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 1.1x.
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 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€26.453.1%
+€110.8m		22.5%PE16.5x
D6H DATAGROUP€70.006.1%
+€33.3m		48.0%PE23.9x
COK Cancom€28.303.5%
+€29.2m		22.1%PE50.3x
BC8 Bechtle€43.520.4%
+€20.2m		43.3%PE25.5x
SANT Kontron€22.580.8%
+€11.1m		16.8%PE10.2x

Latest News

A1OS
€40.50
All for One Group
7D
-2.2%
1Y
-28.7%
SANT
€22.58
Kontron
7D
0.8%
1Y
16.8%

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
€75.20
Nagarro
7D
-4.7%
1Y
-7.6%

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.
IOS
€26.45
IONOS Group
7D
3.1%
1Y
22.5%

IOS: Rising Profit Margins And Buybacks Will Drive Strong Future Returns

Analysts have slightly reduced their price target on IONOS Group to approximately €38.50 from about €39.30, reflecting tempered revenue growth assumptions, marginally improved profit margin expectations, and a modestly higher discount rate. What's in the News IONOS Group confirmed new guidance for 2025, targeting approximately 8% revenue growth compared with 2024 revenue of €1,248.1 million (company guidance).
BC8
€43.52
Bechtle
7D
0.4%
1Y
43.3%

BC8: 2026 IT Spending Revival Will Likely Shape Fairly Priced Outlook

Analysts have raised their price target on Bechtle by approximately EUR 1, reflecting expectations for improving organic growth in German IT resellers and a potential revival in IT spending from 2026. This supports slightly higher fair value and profit margin assumptions despite modestly lower revenue growth forecasts.
D6H
€70.00
DATAGROUP
7D
6.1%
1Y
48.0%

D6H: Cloud Contracts And SME Services Will Support A Steady Outlook

Analysts have modestly raised their price target on DATAGROUP to €66.00. This reflects slightly higher long term assumptions for the company’s discount rate and future valuation multiples, while revenue growth and margins remain broadly unchanged.
AEIN
€20.50
Allgeier
7D
4.1%
1Y
29.7%
YSN
€177.60
secunet Security Networks
7D
-4.9%
1Y
55.5%

Returns On Capital Signal Tricky Times Ahead For secunet Security Networks (ETR:YSN)

Nov 29
Returns On Capital Signal Tricky Times Ahead For secunet Security Networks (ETR:YSN)
COK
€28.30
Cancom
7D
3.5%
1Y
22.1%

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
€18.82
GFT Technologies
7D
2.2%
1Y
-16.7%
ADN1
€86.60
adesso
7D
-3.5%
1Y
0.3%
QBY
€0.69
q.beyond
7D
-2.5%
1Y
-0.6%

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
6OK
€0.21
Solidx
7D
-15.4%
1Y
26.1%
SHF
€66.80
SNP Schneider-Neureither & Partner
7D
-1.2%
1Y
49.4%
OBS
€5.75
ORBIS
7D
-2.5%
1Y
-2.5%
NVQ
€8.70
Novabase S.G.P.S
7D
0.6%
1Y
51.3%

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