Narrative Update • May 15
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- 7D5.9%
- 3M52.5%
- 1Y106.7%
- YTD77.1%
The Semiconductors industry is up 4.7% in the last week, with Infineon Technologies up 7.3%. Meanwhile, Elmos Semiconductor actually underperformed within the industry, shrinking 8.0% in the last week. This takes the industry's 12 month performance to a gain of 104%. As for the next few years, earnings are expected to grow by 30% per annum.
Industry Valuation and Performance
Has the German Semiconductors Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 19 May 2026 | €101.3b | €18.4b | €1.2b | 64.1x | 87.2x | 5.5x |
| Thu, 16 Apr 2026 | €70.4b | €18.2b | €1.2b | 56x | 59.4x | 3.9x |
| Sat, 14 Mar 2026 | €61.8b | €18.5b | €1.2b | 43.1x | 52x | 3.3x |
| Mon, 09 Feb 2026 | €62.6b | €18.5b | €1.2b | 26.5x | 51.5x | 3.4x |
| Wed, 07 Jan 2026 | €62.3b | €18.3b | €1.2b | 29.4x | 52.6x | 3.4x |
| Fri, 05 Dec 2025 | €54.8b | €18.5b | €1.2b | 22.5x | 44.9x | 3x |
| Sun, 02 Nov 2025 | €51.9b | €20.0b | €1.2b | 17.2x | 44.7x | 2.6x |
| Tue, 30 Sep 2025 | €50.1b | €20.0b | €1.2b | 21.1x | 40.7x | 2.5x |
| Thu, 28 Aug 2025 | €53.3b | €20.0b | €1.2b | 18.7x | 43.2x | 2.7x |
| Sat, 26 Jul 2025 | €52.1b | €20.1b | €1.4b | 17.4x | 36.8x | 2.6x |
| Mon, 23 Jun 2025 | €50.9b | €20.1b | €1.4b | 15.2x | 36x | 2.5x |
| Wed, 21 May 2025 | €50.3b | €20.1b | €1.4b | 13.6x | 35.6x | 2.5x |
| Fri, 18 Apr 2025 | €39.7b | €20.0b | €1.6b | 11.5x | 24.4x | 2x |
| Sun, 16 Mar 2025 | €51.5b | €20.1b | €1.8b | 12.2x | 28.8x | 2.6x |
| Tue, 11 Feb 2025 | €53.8b | €20.1b | €1.8b | 13.2x | 29.5x | 2.7x |
| Thu, 09 Jan 2025 | €49.2b | €20.4b | €2.2b | 13.1x | 22.4x | 2.4x |
| Sat, 07 Dec 2024 | €49.2b | €20.4b | €2.2b | 13.4x | 22.4x | 2.4x |
| Mon, 04 Nov 2024 | €44.9b | €20.8b | €2.7b | 13.2x | 16.9x | 2.2x |
| Wed, 02 Oct 2024 | €47.6b | €20.8b | €2.7b | 14.2x | 17.8x | 2.3x |
| Fri, 30 Aug 2024 | €51.2b | €20.8b | €2.7b | 15.1x | 19.1x | 2.5x |
| Sun, 28 Jul 2024 | €48.8b | €21.2b | €3.2b | 14x | 15.5x | 2.3x |
| Tue, 25 Jun 2024 | €52.9b | €21.3b | €3.2b | 13.4x | 16.4x | 2.5x |
| Thu, 23 May 2024 | €59.2b | €21.4b | €3.2b | 15.8x | 18.3x | 2.8x |
| Sat, 20 Apr 2024 | €49.9b | €21.8b | €3.7b | 13.5x | 13.5x | 2.3x |
| Mon, 18 Mar 2024 | €52.0b | €21.6b | €3.7b | 14x | 14x | 2.4x |
| Wed, 14 Feb 2024 | €53.8b | €21.6b | €3.8b | 14.3x | 14.3x | 2.5x |
| Fri, 12 Jan 2024 | €55.7b | €21.9b | €3.9b | 14.4x | 14.3x | 2.5x |
| Sun, 10 Dec 2023 | €60.1b | €21.9b | €3.9b | 15.9x | 15.5x | 2.7x |
| Tue, 07 Nov 2023 | €48.3b | €21.5b | €3.8b | 14.3x | 12.7x | 2.2x |
| Thu, 05 Oct 2023 | €51.9b | €21.7b | €3.9b | 13.6x | 13.4x | 2.4x |
| Sat, 02 Sep 2023 | €54.4b | €21.7b | €3.9b | 15x | 14.1x | 2.5x |
| Mon, 31 Jul 2023 | €63.9b | €21.0b | €3.5b | 17.8x | 18.4x | 3x |
| Wed, 28 Jun 2023 | €58.7b | €20.9b | €3.5b | 18.7x | 16.9x | 2.8x |
| Fri, 26 May 2023 | €55.5b | €20.9b | €3.5b | 16.5x | 16x | 2.7x |
Price to Earnings Ratio
16x
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 86.0x which is higher than its 3-year average PE of 27.8x.
- The 3-year average PS ratio of 2.7x is lower than the industry's current PS ratio of 5.4x.
Past Earnings Growth
- The earnings for companies in the Semiconductor industry have declined 31% per year over the last three years,
- Revenues have also declined 4.2% 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 | -0.26% | |
| Tech | 3.17% | |
| Semiconductors | 5.91% | |
| Semiconductors | 6.68% | |
| Semiconductor Equipment | 0.27% | |
Industry PE
- Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 27.4x.
- Analysts are expecting annual earnings growth of 30.1%, which is higher than its past year's earnings decline of 12.2% per year.
Forecasted Growth
- Analysts are most optimistic on the Semiconductor Equipment industry, expecting annual earnings growth of 33% over the next 5 years.
- This is better than its past earnings decline of 42% per year.
- In contrast, the Semiconductors industry is expected to see its earnings grow by 30% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| IFX Infineon Technologies | €66.33 | 7.3% +€5.9b | 98.1% | PE80.3x | |
| AIXA AIXTRON | €50.36 | 6.0% +€319.2m | 304.7% | PE97.6x | |
| SMHN SUSS MicroTec | €88.90 | 2.0% +€33.5m | 130.9% | PE48x | |
| CTNK centrotherm international | €9.40 | 15.3% +€26.5m | 175.7% | PE5.8x | |
| TPE PVA TePla | €43.36 | 1.5% +€14.4m | 166.5% | PE123.7x |
