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German (DAX) IT Industry Analysis

UpdatedJun 27, 2026
DataAggregated Company Financials
Companies28
  • 7D-1.1%
  • 3M7.9%
  • 1Y-22.0%
  • YTD-15.5%

Over the last 7 days, the IT industry has dropped 1.1%, driven by secunet Security Networks declining 8.9%. In contrast, Nagarro has gained 14%. The industry has fallen 22% in the last year. Looking forward, earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 27 Jun 2026€14.3b€17.6b€806.2m19.6x17.7x0.8x
Mon, 25 May 2026€15.0b€17.6b€819.2m23.6x18.3x0.9x
Wed, 22 Apr 2026€15.0b€17.4b€787.2m22.2x19x0.9x
Fri, 20 Mar 2026€13.2b€17.4b€733.9m27.4x18x0.8x
Sun, 15 Feb 2026€13.9b€17.4b€739.5m27.1x18.8x0.8x
Tue, 13 Jan 2026€16.9b€17.5b€742.3m26.2x22.7x1x
Thu, 11 Dec 2025€16.2b€17.5b€749.0m25.2x21.6x0.9x
Sat, 08 Nov 2025€14.8b€17.5b€734.3m21.9x20.2x0.8x
Mon, 06 Oct 2025€16.7b€17.4b€736.8m22.6x22.7x1x
Wed, 03 Sep 2025€16.4b€17.4b€735.9m23.7x22.3x0.9x
Fri, 01 Aug 2025€18.0b€17.3b€679.4m29.4x26.4x1x
Sun, 29 Jun 2025€17.8b€17.3b€684.0m26.4x26x1x
Tue, 27 May 2025€17.4b€17.3b€683.3m25.9x25.5x1x
Thu, 24 Apr 2025€15.5b€16.7b€690.1m21.8x22.5x0.9x
Sat, 22 Mar 2025€12.7b€15.8b€545.9m19.3x23.3x0.8x
Mon, 17 Feb 2025€11.3b€15.8b€547.1m19.4x20.6x0.7x
Wed, 15 Jan 2025€10.1b€15.8b€562.0m17.8x18.1x0.6x
Fri, 13 Dec 2024€10.8b€15.8b€558.4m18.7x19.4x0.7x
Sun, 10 Nov 2024€10.5b€15.7b€546.9m17.7x19.2x0.7x
Tue, 08 Oct 2024€11.5b€15.5b€554.0m20.3x20.8x0.7x
Thu, 05 Sep 2024€10.9b€15.2b€552.6m18.9x19.6x0.7x
Sat, 03 Aug 2024€12.0b€15.3b€549.1m20.2x21.9x0.8x
Mon, 01 Jul 2024€12.7b€15.3b€545.4m20x23.2x0.8x
Wed, 29 May 2024€13.5b€15.3b€546.1m19.8x24.8x0.9x
Fri, 26 Apr 2024€13.0b€15.0b€545.3m20.8x23.9x0.9x
Sun, 24 Mar 2024€13.4b€14.8b€469.7m23x28.4x0.9x
Tue, 20 Feb 2024€13.6b€14.7b€456.3m23.1x29.9x0.9x
Thu, 18 Jan 2024€13.2b€14.8b€458.9m21.9x28.8x0.9x
Sat, 16 Dec 2023€13.4b€14.8b€462.4m22.3x29x0.9x
Mon, 13 Nov 2023€12.9b€14.8b€480.1m19.7x26.9x0.9x
Wed, 11 Oct 2023€13.0b€14.6b€457.9m19.5x28.4x0.9x
Fri, 08 Sep 2023€13.3b€14.6b€455.7m19.7x29.3x0.9x
Sun, 06 Aug 2023€12.7b€14.4b€493.5m17.3x25.8x0.9x
Tue, 04 Jul 2023€12.4b€14.3b€487.8m17.8x25.4x0.9x
Price to Earnings Ratio

25.4x


Total Market Cap: €12.4bTotal Earnings: €487.8mTotal Revenue: €14.3bTotal Market Cap vs Earnings and Revenue0%0%0%
German IT Industry Price to Earnings3Y Average 23.3x202420252026
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 17.7x which is lower than its 3-year average PE of 23.3x.
  • 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-1.71%
Tech-2.02%
IT-1.06%
Data Processing Services0%0
IT Consulting-0.87%
Internet Services and Infrastructure-1.59%
Industry PE
  • Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 22.5x.
    • 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 5.0x.
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
NA9 Nagarro€40.4413.7%
+€60.4m		-31.5%PE10.6x
BC8 Bechtle€30.821.0%
+€40.3m		-21.3%PE16.5x
AEIN Allgeier€16.003.6%
+€6.2m		-16.0%PE33.7x
D6H0 DATAGROUP€75.900.3%
+€1.7m		25.9%PE33.1x
SHF SNP Schneider-Neureither & Partner€81.600.2%
+€1.5m		15.6%PE15.9x

Latest News

NA9
€40.44
Nagarro
7D
13.7%
1Y
-31.5%
BC8
€30.82
Bechtle
7D
1.0%
1Y
-21.3%
Narrative Update • Jun 24

BC8: Industrial Remote Access Partnership Will Support Earnings Repricing

Analysts have reduced their fair value estimate for Bechtle from €56 to €45, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E multiples, even though some recent research includes a €3 increase in the price target. What’s in the News for Bechtle TeamViewer Germany GmbH and Bechtle introduced new secure access gateway hardware that supports plug-and-play deployment of secure remote access for industrial systems.
AEIN
€16.00
Allgeier
7D
3.6%
1Y
-16.0%
ADN1
€49.25
adesso
7D
-2.1%
1Y
-43.9%
Narrative Update • Jun 22

ADN1: Major Bundesbank Win And 2026 Guidance Will Support Future Upside

Analysts have maintained their fair value estimate for adesso at €103.33, while adjusting assumptions for the discount rate, revenue growth, profit margin and future P/E, which helps explain a recalibrated but unchanged price target for the stock. What’s in the News for adesso adesso SE secured one of the largest contracts in its history with Deutsche Bundesbank, following a multi stage tender that lasted more than two years, with the project focused on modernising the central bank’s core banking system, source: company client announcement.
GFT
€20.45
GFT Technologies
7D
-4.0%
1Y
-9.5%
COK
€22.70
Cancom
7D
-4.0%
1Y
-18.9%
YSN
€166.00
secunet Security Networks
7D
-8.9%
1Y
-25.2%
Narrative Update • Jun 16

YSN: Dividend And 2026 Guidance Will Drive Further Share Price Upside

Analysts have kept their price target for secunet Security Networks steady at about €239.67 per share. This reflects broadly unchanged views on fair value, supported by consistent assumptions for revenue growth, profit margins and future P/E, with only slight adjustments to the discount rate in their models.
IOS
€26.56
IONOS Group
7D
-1.6%
1Y
-33.4%
Narrative Update • Jun 16

IOS: Lower Discount Rate And Steady Margins Will Support Strong Returns

Analysts have nudged their price target for IONOS Group slightly lower to about €33.60, reflecting updated assumptions for discount rate, revenue growth, profit margin and future P/E that fine tune rather than overhaul their valuation view. What's in the News No recent company specific news or key developments for IONOS Group were identified in the provided sources.
A1OS
€31.10
All for One Group
7D
-2.5%
1Y
-43.5%
Narrative Update • Jun 14

A1OS: Higher Discount Rate And Dividend Will Support Future Repricing

Analysts have maintained their fair value estimate for All for One Group at €46.0, making only small adjustments to discount rate, revenue growth, profit margin and future P/E assumptions. As a result, the stock's overall price target remains effectively unchanged.
KTN
€23.28
Kontron
7D
-1.0%
1Y
-5.2%
NVQ
€7.98
Novabase S.G.P.S
7D
-2.2%
1Y
1.0%
D6H0
€75.90
DATAGROUP
7D
0.3%
1Y
25.9%
1YT
€0.40
FutureSmart Holdings
7D
60.0%
1Y
-71.4%
DCIK
€6.60
DCI Database for Commerce and Industry
7D
4.8%
1Y
32.0%
T3T1
€4.90
Seven Principles
7D
0.4%
1Y
-4.9%
Analysis Article • May 11

Earnings Troubles May Signal Larger Issues for Seven Principles (ETR:T3T1) Shareholders

The subdued market reaction suggests that Seven Principles AG's ( ETR:T3T1 ) recent earnings didn't contain any...
SHF
€81.60
SNP Schneider-Neureither & Partner
7D
0.2%
1Y
15.6%