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German (DAX) Semiconductors Industry Analysis

UpdatedMar 12, 2026
DataAggregated Company Financials
Companies16
  • 7D-4.5%
  • 3M17.4%
  • 1Y25.4%
  • YTD11.9%

Over the last 7 days, the Semiconductors industry has dropped 4.5%, driven by a pullback from Infineon Technologies of 4.4%. Meanwhile, AIXTRON actually outperformed within the industry, gaining 11% in the last week. In the past year, the industry has gained 25%. Looking forward, earnings are forecast to grow by 24% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 13 Mar 2026€63.9b€18.5b€1.2b43.7x52x3.5x
Sun, 08 Feb 2026€62.6b€18.5b€1.2b26.5x51.5x3.4x
Tue, 06 Jan 2026€59.8b€18.3b€1.2b28.8x50.5x3.3x
Thu, 04 Dec 2025€55.0b€18.5b€1.2b21.6x45.1x3x
Sat, 01 Nov 2025€51.9b€20.0b€1.2b14.4x44x2.6x
Mon, 29 Sep 2025€49.5b€20.0b€1.2b21.1x40.3x2.5x
Wed, 27 Aug 2025€53.9b€20.0b€1.2b18.7x43.7x2.7x
Fri, 25 Jul 2025€51.8b€20.1b€1.4b17.3x36.6x2.6x
Sun, 22 Jun 2025€50.9b€20.1b€1.4b15.2x36x2.5x
Tue, 20 May 2025€49.8b€20.1b€1.4b13.5x35.2x2.5x
Thu, 17 Apr 2025€40.0b€20.0b€1.6b11.6x24.6x2x
Sat, 15 Mar 2025€51.5b€20.1b€1.8b12.2x28.9x2.6x
Mon, 10 Feb 2025€54.1b€20.1b€1.8b13x29.7x2.7x
Wed, 08 Jan 2025€51.0b€20.4b€2.2b13.7x23.2x2.5x
Fri, 06 Dec 2024€48.7b€20.4b€2.2b13.4x22.2x2.4x
Sun, 03 Nov 2024€44.9b€20.8b€2.7b13.2x16.9x2.2x
Tue, 01 Oct 2024€48.8b€20.8b€2.7b14.3x18.2x2.3x
Thu, 29 Aug 2024€50.2b€20.8b€2.7b14.8x18.8x2.4x
Sat, 27 Jul 2024€48.8b€21.2b€3.2b14x15.5x2.3x
Mon, 24 Jun 2024€52.9b€21.3b€3.2b13.7x16.4x2.5x
Wed, 22 May 2024€57.2b€21.4b€3.2b15.6x17.7x2.7x
Fri, 19 Apr 2024€49.9b€21.8b€3.7b13.5x13.5x2.3x
Sun, 17 Mar 2024€52.0b€21.6b€3.7b14x14x2.4x
Tue, 13 Feb 2024€56.4b€21.6b€3.8b15x15x2.6x
Thu, 11 Jan 2024€56.5b€21.9b€3.9b14.6x14.5x2.6x
Sat, 09 Dec 2023€60.1b€21.9b€3.9b15.9x15.5x2.7x
Mon, 06 Nov 2023€48.3b€21.5b€3.8b13.8x12.7x2.2x
Wed, 04 Oct 2023€51.9b€21.7b€3.9b13.1x13.4x2.4x
Fri, 01 Sep 2023€54.6b€21.7b€3.9b15.2x14.1x2.5x
Sun, 30 Jul 2023€63.9b€21.0b€3.5b17.8x18.4x3x
Tue, 27 Jun 2023€58.7b€20.9b€3.5b19.1x16.9x2.8x
Thu, 25 May 2023€55.5b€20.9b€3.5b16.5x16x2.7x
Sat, 22 Apr 2023€57.3b€19.9b€3.1b19.1x18.6x2.9x
Mon, 20 Mar 2023€55.8b€19.8b€3.0b18.8x18.8x2.8x
Price to Earnings Ratio

18.8x


Total Market Cap: €55.8bTotal Earnings: €3.0bTotal Revenue: €19.8bTotal Market Cap vs Earnings and Revenue0%0%0%
German Semiconductors Industry Price to Earnings3Y Average 25.1x202420252026
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 52.0x which is higher than its 3-year average PE of 25.0x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.5x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have declined 26% per year over the last three years,
  • Revenues have also declined 2.3% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

DE Market-2.45%
Tech-1.87%
Semiconductors-4.51%
Semiconductor Equipment3.51%
Semiconductors-5.41%
Industry PE
  • Investors are most optimistic about the Semiconductor Equipment industry even though it's trading below its 3-year average PE ratio of 154x.
    • Analysts are expecting annual earnings growth of 3.2%, which is higher than its past year's earnings decline of 19.8% 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 25.0x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings decline of 28% per year.
  • In contrast, the Semiconductor Equipment industry is expected to see its earnings grow by 3.2% 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
AIXA AIXTRON€32.3411.2%
+€366.6m		181.1%PE42.8x
WAF Siltronic€54.005.0%
+€76.5m		18.7%PS1.2x
SMHN SUSS MicroTec€58.305.6%
+€59.3m		55.3%PE19.7x
CTNK centrotherm international€9.4015.3%
+€26.5m		175.7%PE5.8x
GY9 Smoltek Nanotech Holding€0.059209.5%
+€7.2m		83.8%PS27x

Latest News

WAF
€54.00
Siltronic
7D
5.0%
1Y
18.7%

WAF: Fair Value View Will Balance Raised Multiple And Earnings Headwinds

Analysts have increased their price target on Siltronic by €17, citing updated assumptions around discount rates, long-term margins, and P/E multiples that refine their fair value view without materially changing it. Analyst Commentary Bullish Takeaways Bullish analysts view the €17 uplift in the price target as a refinement of their existing valuation work, suggesting their core thesis on Siltronic’s earnings power and cash generation remains broadly intact.
SMHN
€58.30
SUSS MicroTec
7D
5.6%
1Y
55.3%
IFX
€40.42
Infineon Technologies
7D
-4.4%
1Y
18.5%

IFX: China Inventory Risk Will Set Up Future Margin Reassessment

Infineon Technologies' blended analyst price target has edged higher to about €49.22 from €48.78 as analysts balance concerns about China-related inventory risk and margin headwinds with a series of recent price target increases from major firms. Analyst Commentary Recent Street research on Infineon shows a mix of optimism around its long term positioning and caution around nearer term execution risks, which helps explain the relatively modest change in the blended price target.
TPE
€26.98
PVA TePla
7D
0.07%
1Y
95.9%

TPE: Multi Year Revenue Guidance And Recent Pullback Will Shape Outlook

Analysts have lifted their price target on PVA TePla to €25.00 from €15.50, citing recent upgrades and research that frame the recent share selloff as overdone and note higher valuation assumptions based on current expectations. Analyst Commentary Recent research highlights a split in how the market views PVA TePla.
AIXA
€32.34
AIXTRON
7D
11.2%
1Y
181.1%

AIXA: Data Center And AI Demand Will Support Re Rated Outlook

Analysts have lifted their price target on AIXTRON to about €26.85 from roughly €19.83, reflecting updated assumptions for higher revenue, slightly stronger profit margins and a modestly higher future P/E, in line with recent Street targets moving toward €31. Analyst Commentary Recent Street research has clustered around a €31 price target, with several firms lifting their numbers from previous ranges near €20 to €25.20.
ELG
€138.00
Elmos Semiconductor
7D
-5.2%
1Y
113.6%
GY9
€0.059
Smoltek Nanotech Holding
7D
209.5%
1Y
83.8%
SIS
€53.40
First Sensor
7D
-1.5%
1Y
-7.3%
CTNK
€9.40
centrotherm international
7D
15.3%
1Y
175.7%
P4O
€4.70
Planoptik
7D
-9.6%
1Y
41.6%

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
M5Z
€0.085
Manz
7D
-0.2%
1Y
-80.6%
CV3
€0.50
Carpevigo Holding
7D
2.9%
1Y
-16.7%
PS4
€0.015
Phoenix Solar
7D
15.4%
1Y
1,400.0%