Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

German (DAX) Semiconductors Industry Analysis

UpdatedJan 31, 2026
DataAggregated Company Financials
Companies16
  • 7D-1.6%
  • 3M21.7%
  • 1Y30.2%
  • YTD8.2%

Over the last 7 days, the Semiconductors industry has dropped 1.6%, driven by a pullback from Infineon Technologies of 1.6%. In contrast, Elmos Semiconductor has gained 5.1%. Over the past 12 months, the industry was up 30%. Looking forward, earnings are forecast to grow by 23% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 31 Jan 2026€62.2b€18.3b€1.2b29.8x52.6x3.4x
Mon, 29 Dec 2025€54.6b€18.3b€1.2b25.6x46.1x3x
Wed, 26 Nov 2025€50.5b€18.5b€1.2b21.4x41.4x2.7x
Fri, 24 Oct 2025€50.8b€20.1b€1.2b21.1x41.1x2.5x
Sun, 21 Sep 2025€49.7b€20.0b€1.2b20.1x40.4x2.5x
Tue, 19 Aug 2025€54.4b€20.0b€1.2b18.6x44.1x2.7x
Thu, 17 Jul 2025€55.9b€20.1b€1.4b17.2x39.5x2.8x
Sat, 14 Jun 2025€52.5b€20.1b€1.4b14.7x37.1x2.6x
Mon, 12 May 2025€47.0b€20.1b€1.4b13.9x33.1x2.3x
Wed, 09 Apr 2025€37.9b€20.0b€1.6b10.6x23.3x1.9x
Fri, 07 Mar 2025€54.4b€20.1b€1.8b13x30.4x2.7x
Sun, 02 Feb 2025€48.0b€20.4b€2.2b13.4x21.9x2.4x
Tue, 31 Dec 2024€47.5b€20.4b€2.2b13x21.6x2.3x
Thu, 28 Nov 2024€45.4b€20.4b€2.2b12.1x20.5x2.2x
Sat, 26 Oct 2024€47.0b€20.8b€2.7b13.4x17.7x2.3x
Mon, 23 Sep 2024€45.3b€20.8b€2.7b14.1x16.9x2.2x
Wed, 21 Aug 2024€49.6b€20.8b€2.7b14.8x18.5x2.4x
Fri, 19 Jul 2024€53.7b€21.3b€3.2b14x16.7x2.5x
Sun, 16 Jun 2024€57.0b€21.3b€3.2b14.4x17.7x2.7x
Tue, 14 May 2024€58.0b€21.4b€3.2b15.4x18x2.7x
Thu, 11 Apr 2024€53.6b€21.8b€3.7b14.6x14.5x2.5x
Sat, 09 Mar 2024€55.4b€21.7b€3.8b15x14.7x2.6x
Mon, 05 Feb 2024€54.9b€21.9b€3.9b14.1x14.1x2.5x
Wed, 03 Jan 2024€60.2b€21.9b€3.9b15.8x15.5x2.8x
Fri, 01 Dec 2023€57.7b€21.9b€3.9b15.4x14.9x2.6x
Sun, 29 Oct 2023€48.0b€21.7b€3.9b13x12.4x2.2x
Tue, 26 Sep 2023€51.3b€21.7b€3.9b13.3x13.3x2.4x
Thu, 24 Aug 2023€54.5b€21.7b€3.9b15.1x14.1x2.5x
Sat, 22 Jul 2023€60.3b€20.9b€3.5b18x17.4x2.9x
Mon, 19 Jun 2023€61.6b€20.9b€3.5b18.9x17.8x3x
Wed, 17 May 2023€56.0b€20.9b€3.5b16.3x16x2.7x
Fri, 14 Apr 2023€59.5b€20.0b€3.1b19.5x19.2x3x
Sun, 12 Mar 2023€57.6b€19.8b€3.0b20.6x19.4x2.9x
Tue, 07 Feb 2023€58.2b€18.9b€2.7b20.1x21.8x3.1x
Price to Earnings Ratio

21.8x


Total Market Cap: €58.2bTotal Earnings: €2.7bTotal Revenue: €18.9bTotal Market Cap vs Earnings and Revenue0%0%0%
German Semiconductors Industry Price to Earnings3Y Average 23.8x202420252026
Current Industry PE
  • Investors are optimistic on the German Semiconductor industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 52.6x which is higher than its 3-year average PE of 23.8x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.4x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have declined 24% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the German Tech industry?

DE Market-1.18%
Tech-9.97%
Semiconductors-1.62%
Semiconductors-1.38%
Semiconductor Equipment-4.06%
Industry PE
  • Investors are most optimistic about the Semiconductor Equipment industry even though it's trading below its 3-year average PE ratio of 153x.
    • Analysts are expecting annual earnings growth of 3.9%, which is higher than its past year's earnings decline of 20.8% per year.
  • Investors are most pessimistic about the Semiconductors industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 23.8x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings decline of 44% per year.
  • In contrast, the Semiconductor Equipment industry is expected to see its earnings grow by 3.9% 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
ELG Elmos Semiconductor€115.405.1%
+€96.0m		62.5%PE15.9x
CTNK centrotherm international€9.4015.3%
+€26.5m		175.7%PE5.8x
SMHN SUSS MicroTec€49.782.6%
+€24.5m		14.2%PE16.9x
NW1 Windon Energy Group€0.07926.6%
+€200.6k		-27.0%PS0.5x
QCE Global PVQ€0.002566.7%
+€176.3k		-16.7%n/a

Latest News

AIXA
€19.37
AIXTRON
7D
-8.6%
1Y
43.3%
ELG
€115.40
Elmos Semiconductor
7D
5.1%
1Y
62.5%

ELG: Execution Risk On 2025 Margin Guidance Will Constrain Future Upside

Narrative Update Analysts have raised their price targets for Elmos Semiconductor, with recent revisions moving one target to €90 and another firm adding a further €15 increase, supported by updated assumptions for growth, margins, and a slightly adjusted P/E outlook. Analyst Commentary Recent research updates on Elmos Semiconductor reflect a more mixed tone than the headline price target changes might suggest.
TPE
€26.58
PVA TePla
7D
-5.0%
1Y
91.2%

TPE: Deferred Orders And Buyback Are Expected To Support Future Recovery

Analysts have raised their price target for PVA TePla from €26 to €31, citing recent research that characterizes the earlier share selloff as excessive and views the slowdown in growth momentum as temporary. Analyst Commentary Bullish analysts are framing the recent share weakness as an opportunity, pointing to a gap between current pricing and what they see as the company’s medium term potential once short term softness passes.
WAF
€52.60
Siltronic
7D
-1.5%
1Y
18.7%

WAF: Potential 2026 Volume Recovery Will Signal A More Constructive Earnings Floor

Narrative update on Siltronic The blended analyst view on Siltronic now centers on a price target of €70, with recent target moves between €57 and €70 reflecting updated expectations for revenue growth, profit margins and future P/E assumptions as analysts weigh gradual volume recovery over the coming years. Analyst Commentary Recent Street commentary on Siltronic gives you a clearer picture of how expectations are being fine tuned rather than radically reset.
IFX
€41.61
Infineon Technologies
7D
-1.6%
1Y
29.8%

IFX: Data Center Power Partnerships And Materials Supply Will Shape Balanced Outlook

Analysts have nudged their price expectations for Infineon higher, reflecting updated fair value estimates of €46.39, slightly adjusted assumptions for growth, margins and discount rate, and recent Street research in which firms lifted their price targets on the shares and highlighted Infineon's role in a planned DC-based datacenter infrastructure partnership. Analyst Commentary Recent Street research on Infineon points to a mix of optimism around the updated fair value and the DC-based datacenter opportunity, alongside some caution on execution and risk-reward at current levels.
SMHN
€49.78
SUSS MicroTec
7D
2.6%
1Y
14.2%

SMHN: AI Exposure Will Face Execution Risk Despite Raised Long Term Ambitions

The analyst fair value estimate for SUSS MicroTec has moved from €30.00 to €37.00, as analysts factor in improved artificial intelligence exposure, expectations for an order inflection, order weakness being reflected in existing estimates, and a mix of higher and lower recent Street price targets. Analyst Commentary Recent Street research on SUSS MicroTec shows a wide spread in opinion, with several firms lifting ratings and targets while others have turned more cautious.
NW1
€0.079
Windon Energy Group
7D
26.6%
1Y
-27.0%
P4O
€5.10
Planoptik
7D
-2.9%
1Y
35.6%

Planoptik AG's (ETR:P4O) Shares Climb 27% But Its Business Is Yet to Catch Up

Jan 09
Planoptik AG's (ETR:P4O) Shares Climb 27% But Its Business Is Yet to Catch Up
CTNK
€9.40
centrotherm international
7D
15.3%
1Y
175.7%
GY9
€0.017
Smoltek Nanotech Holding
7D
4.9%
1Y
-42.7%

Smoltek Nanotech Holding (FRA:GY9) Has Debt But No Earnings; Should You Worry?

Dec 17
Smoltek Nanotech Holding (FRA:GY9) Has Debt But No Earnings; Should You Worry?
CV3
€0.59
Carpevigo Holding
7D
-5.6%
1Y
-9.2%
PS4
€0.006
Phoenix Solar
7D
33.3%
1Y
100.0%
9TS
€0.0011
TubeSolar
7D
-45.0%
1Y
10.0%