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German (DAX) Semiconductors Industry Analysis

UpdatedFeb 09, 2026
DataAggregated Company Financials
Companies16
  • 7D0.8%
  • 3M24.9%
  • 1Y16.1%
  • YTD9.0%

Over the last 7 days, the Semiconductors industry has remained flat, although notably PVA TePla declined by 22%. As for the the longer term, the industry is up 16% over the past 12 months. As for the next few years, earnings are expected to grow by 25% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Feb 2026€62.6b€18.5b€1.2b26.5x51.5x3.4x
Wed, 07 Jan 2026€62.3b€18.3b€1.2b29.4x52.6x3.4x
Fri, 05 Dec 2025€54.8b€18.5b€1.2b22.5x44.9x3x
Sun, 02 Nov 2025€51.9b€20.0b€1.2b17.2x44.7x2.6x
Tue, 30 Sep 2025€50.1b€20.0b€1.2b21.1x40.7x2.5x
Thu, 28 Aug 2025€53.3b€20.0b€1.2b18.7x43.2x2.7x
Sat, 26 Jul 2025€52.1b€20.1b€1.4b17.4x36.8x2.6x
Mon, 23 Jun 2025€50.9b€20.1b€1.4b15.2x36x2.5x
Wed, 21 May 2025€50.3b€20.1b€1.4b13.6x35.6x2.5x
Fri, 18 Apr 2025€39.7b€20.0b€1.6b11.5x24.4x2x
Sun, 16 Mar 2025€51.5b€20.1b€1.8b12.2x28.8x2.6x
Tue, 11 Feb 2025€53.8b€20.1b€1.8b13.2x29.5x2.7x
Thu, 09 Jan 2025€49.2b€20.4b€2.2b13.1x22.4x2.4x
Sat, 07 Dec 2024€49.2b€20.4b€2.2b13.4x22.4x2.4x
Mon, 04 Nov 2024€44.9b€20.8b€2.7b13.2x16.9x2.2x
Wed, 02 Oct 2024€47.6b€20.8b€2.7b14.2x17.8x2.3x
Fri, 30 Aug 2024€51.2b€20.8b€2.7b15.1x19.1x2.5x
Sun, 28 Jul 2024€48.8b€21.2b€3.2b14x15.5x2.3x
Tue, 25 Jun 2024€52.9b€21.3b€3.2b13.4x16.4x2.5x
Thu, 23 May 2024€59.2b€21.4b€3.2b15.8x18.3x2.8x
Sat, 20 Apr 2024€49.9b€21.8b€3.7b13.5x13.5x2.3x
Mon, 18 Mar 2024€52.0b€21.6b€3.7b14x14x2.4x
Wed, 14 Feb 2024€53.8b€21.6b€3.8b14.3x14.3x2.5x
Fri, 12 Jan 2024€55.7b€21.9b€3.9b14.4x14.3x2.5x
Sun, 10 Dec 2023€60.1b€21.9b€3.9b15.9x15.5x2.7x
Tue, 07 Nov 2023€48.3b€21.5b€3.8b14.3x12.7x2.2x
Thu, 05 Oct 2023€51.9b€21.7b€3.9b13.6x13.4x2.4x
Sat, 02 Sep 2023€54.4b€21.7b€3.9b15x14.1x2.5x
Mon, 31 Jul 2023€63.9b€21.0b€3.5b17.8x18.4x3x
Wed, 28 Jun 2023€58.7b€20.9b€3.5b18.7x16.9x2.8x
Fri, 26 May 2023€55.5b€20.9b€3.5b16.5x16x2.7x
Sun, 23 Apr 2023€57.3b€19.9b€3.1b19.1x18.6x2.9x
Tue, 21 Mar 2023€55.8b€19.8b€3.0b19.1x18.7x2.8x
Thu, 16 Feb 2023€57.6b€19.7b€2.9b19.9x19.6x2.9x
Price to Earnings Ratio

19.6x


Total Market Cap: €57.6bTotal Earnings: €2.9bTotal Revenue: €19.7bTotal Market Cap vs Earnings and Revenue0%0%0%
German Semiconductors Industry Price to Earnings3Y Average 24.1x202420252026
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 51.5x which is higher than its 3-year average PE of 24.1x.
  • 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 26% per year over the last three years,
  • Revenues have also declined 2.0% 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 Market0.45%
Tech-0.60%
Semiconductors0.78%
Semiconductors1.02%
Semiconductor Equipment-1.85%
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 3.2%, 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 24.0x.
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
IFX Infineon Technologies€42.040.4%
+€201.8m		14.8%PE54.6x
AIXA AIXTRON€20.323.6%
+€79.4m		51.0%PE25.2x
ELG Elmos Semiconductor€117.401.4%
+€27.4m		70.9%PE16.2x
CTNK centrotherm international€9.4015.3%
+€26.5m		175.7%PE5.8x
WAF Siltronic€52.150.2%
+€3.0m		22.7%PS1.2x

Latest News

ELG
€117.40
Elmos Semiconductor
7D
1.4%
1Y
70.9%

Elmos Semiconductor (ETR:ELG) Is Paying Out A Larger Dividend Than Last Year

Feb 08
Elmos Semiconductor (ETR:ELG) Is Paying Out A Larger Dividend Than Last Year
WAF
€52.15
Siltronic
7D
0.2%
1Y
22.7%

WAF: Higher Required Returns Will Likely Pressure An Already Stretched Outlook

Analysts have raised their price target on Siltronic from €35.35 to €39.00, citing updated assumptions for revenue growth, profit margins and future P/E that contribute to a higher fair value estimate despite a slightly higher discount rate. Valuation Changes Fair Value: updated from €35.35 to €39.00, which supports a modestly higher valuation anchor.
IFX
€42.04
Infineon Technologies
7D
0.4%
1Y
14.8%

IFX: Gallium Supply Shift And Patent Ruling Will Support Future Upside

Analysts have nudged their price targets on Infineon higher, with our fair value estimate moving from €46.39 to about €48.48. This adjustment is supported by Street research that cites updated views on revenue growth, profit margins and future P/E assumptions.
SMHN
€46.32
SUSS MicroTec
7D
-6.3%
1Y
10.7%

SMHN: AI Hopes Will Test Order Inflection And Execution Risk

The analyst price target for SUSS MicroTec has shifted from about €37 to roughly €40. Analysts cite an improved artificial intelligence outlook, expectations for an order inflection, and what they view as a still low valuation as key drivers of the change.
GY9
€0.017
Smoltek Nanotech Holding
7D
-66.7%
1Y
-63.6%
TPE
€20.76
PVA TePla
7D
-20.8%
1Y
55.7%
CTNK
€9.40
centrotherm international
7D
15.3%
1Y
175.7%
AIXA
€20.32
AIXTRON
7D
3.6%
1Y
51.0%

AIXA: Data Center And AI Power Demand Will Guide Balanced Long Term Outlook

The updated analyst price framework for AIXTRON points to a fair value increase from about €18.25 to about €19.83, as analysts factor in Street research that highlights expected benefits from data center and artificial intelligence power demand, along with a higher assumed future P/E multiple. Analyst Commentary Recent Street research on AIXTRON has centered on the potential impact of data center and artificial intelligence related power demand on the company’s growth profile, and on how much investors are willing to pay for that growth via a higher P/E multiple.
NW1
€0.043
Windon Energy Group
7D
-48.8%
1Y
-54.2%
P4O
€5.00
Planoptik
7D
0.4%
1Y
31.6%

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
€0.096
Manz
7D
20.4%
1Y
-78.6%
PS4
€0.008
Phoenix Solar
7D
-23.8%
1Y
300.0%
9TS
€0.008
TubeSolar
7D
-20.0%
1Y
263.6%