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German (DAX) Semiconductors Industry Analysis

UpdatedDec 14, 2025
DataAggregated Company Financials
Companies17
  • 7D-3.5%
  • 3M12.6%
  • 1Y10.0%
  • YTD15.2%

Over the last 7 days, the Semiconductors industry has dropped 3.5%, driven by Infineon Technologies declining 3.2%. This takes the industry's 12 month performance to a gain of 10.0%. 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
Sun, 14 Dec 2025€54.3b€18.5b€1.2b20.9x44.5x2.9x
Tue, 11 Nov 2025€50.2b€18.5b€1.4b21.8x36.9x2.7x
Thu, 09 Oct 2025€50.3b€20.1b€1.2b21.7x40.7x2.5x
Sat, 06 Sep 2025€47.3b€20.0b€1.2b19.6x38.5x2.4x
Mon, 04 Aug 2025€50.7b€20.0b€1.4b15.6x36x2.5x
Wed, 02 Jul 2025€54.2b€20.1b€1.4b16.7x38.3x2.7x
Fri, 30 May 2025€51.3b€20.1b€1.4b13.9x36.3x2.6x
Sun, 27 Apr 2025€44.8b€20.0b€1.6b12.7x27.5x2.2x
Tue, 25 Mar 2025€51.1b€20.1b€1.8b12.4x28.1x2.5x
Thu, 20 Feb 2025€55.7b€20.1b€1.8b13.2x30.5x2.8x
Sat, 18 Jan 2025€50.9b€20.4b€2.2b13.6x23.2x2.5x
Mon, 16 Dec 2024€49.7b€20.4b€2.2b13.6x22.6x2.4x
Wed, 13 Nov 2024€46.8b€20.9b€2.7b12.9x17.6x2.2x
Fri, 11 Oct 2024€47.2b€20.8b€2.7b13.8x17.6x2.3x
Sun, 08 Sep 2024€45.3b€20.8b€2.7b13.8x16.9x2.2x
Tue, 06 Aug 2024€47.2b€21.2b€3.2b13.5x15x2.2x
Thu, 04 Jul 2024€53.8b€21.3b€3.2b13.4x16.7x2.5x
Sat, 01 Jun 2024€57.7b€21.3b€3.2b15.5x17.9x2.7x
Mon, 29 Apr 2024€53.0b€21.8b€3.7b14.4x14.3x2.4x
Wed, 27 Mar 2024€51.3b€21.6b€3.7b13.8x13.9x2.4x
Fri, 23 Feb 2024€55.2b€21.6b€3.8b14.7x14.7x2.6x
Sun, 21 Jan 2024€55.8b€21.9b€3.9b14.3x14.3x2.5x
Tue, 19 Dec 2023€62.7b€21.9b€3.9b15.9x16.1x2.9x
Thu, 16 Nov 2023€54.7b€21.9b€3.9b14.7x14.1x2.5x
Sat, 14 Oct 2023€52.6b€21.6b€3.8b15x13.7x2.4x
Mon, 11 Sep 2023€53.3b€21.7b€3.9b14x13.8x2.5x
Wed, 09 Aug 2023€55.8b€21.5b€3.8b15.4x14.7x2.6x
Fri, 07 Jul 2023€57.7b€20.9b€3.5b17.2x16.6x2.8x
Sun, 04 Jun 2023€58.7b€20.9b€3.5b17.7x16.9x2.8x
Tue, 02 May 2023€54.1b€19.9b€3.1b17.7x17.6x2.7x
Thu, 30 Mar 2023€58.2b€19.8b€3.0b20x19.5x2.9x
Sat, 25 Feb 2023€54.3b€19.7b€2.9b19x18.4x2.8x
Mon, 23 Jan 2023€51.7b€18.9b€2.7b18.8x19.1x2.7x
Wed, 21 Dec 2022€48.6b€18.9b€2.7b17.7x18x2.6x
Price to Earnings Ratio

18x


Total Market Cap: €48.6bTotal Earnings: €2.7bTotal Revenue: €18.9bTotal Market Cap vs Earnings and Revenue0%0%0%
German Semiconductors Industry Price to Earnings3Y Average 22.5x202320242025
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 44.5x which is higher than its 3-year average PE of 22.5x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 2.9x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have declined 23% 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 Market0.69%
Tech-2.43%
Semiconductors-3.45%
Semiconductors-3.32%
Semiconductor Equipment-4.77%
Industry PE
  • Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 22.5x.
    • Analysts are expecting annual earnings growth of 24.9%, which is higher than its past year's earnings decline of 43.6% per year.
  • Investors are most pessimistic about the Semiconductor Equipment industry, which is trading below its 3-year average of 151x.
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 17% 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
SIS First Sensor€57.201.1%
+€6.2m		-0.7%PS5.7x
P4O Planoptik€4.502.7%
+€542.1k		27.1%PE44.2x
CV3 Carpevigo Holding€0.608.1%
+€247.9k		0%n/a
QCE Global PVQ€0.003540.0%
+€176.3k		16.7%n/a
GY9 Smoltek Nanotech Holding€0.0161.3%
+€36.0k		27.4%PS8.9x

Latest News

ELG
€94.10
Elmos Semiconductor
7D
-7.2%
1Y
38.2%

ELG: Higher Revenue Outlook Will Meet Cautious Earnings And Execution Expectations

Analysts have raised their price target on Elmos Semiconductor from EUR 85 to EUR 90, citing improving revenue growth expectations and slightly higher profit margin forecasts, despite a modest uptick in the discount rate and a marginally lower future P/E multiple. Analyst Commentary While the latest target price increase reflects recognition of Elmos Semiconductor's solid fundamentals, the rating remains at Hold, underscoring a cautious stance on the stock's risk reward profile.
TPE
€22.40
PVA TePla
7D
-2.9%
1Y
62.0%

TPE Will See Delayed Orders Potentially Unlock Upside As Outlook Stabilizes

Analysts have trimmed their price target for PVA TePla to EUR 26 from EUR 37, citing reduced growth visibility amid macro uncertainty, customer delays and a softer outlook for silicon wafers, even as underlying margin and revenue growth assumptions remain broadly resilient. Analyst Commentary Bullish analysts continue to highlight the company’s capacity to deliver solid operational execution, even as macro headwinds weigh on near term sentiment.
CTNK
€8.05
centrotherm international
7D
-2.4%
1Y
117.6%
SMHN
€38.58
SUSS MicroTec
7D
-0.4%
1Y
-21.3%

SMHN: Improving AI Demand Will Drive Future Upside Potential

The analyst price target for SUSS MicroTec has been revised higher to EUR 39 from EUR 30, as analysts highlight an improving artificial intelligence outlook, a prospective order inflection, and a still-attractive valuation despite some recent target cuts. Analyst Commentary Recent rating and target changes show a broadly constructive shift in sentiment on SUSS MicroTec, with several upgrades to Buy and higher target prices, even as some houses trim expectations or turn more cautious.
IFX
€36.29
Infineon Technologies
7D
-3.2%
1Y
9.9%

IFX: Data Center Power Partnerships Will Drive Long-Term Share Momentum

Analysts have nudged their fair value estimate for Infineon Technologies slightly higher, lifting the price target by about EUR 1 to reflect modestly improved growth and margin assumptions, supported by recent target increases from the Street and growing optimism around long term demand drivers. Analyst Commentary Bullish analysts highlight that recent target increases to the low 40s in euro terms signal confidence that Infineon can defend and gradually expand margins, even as the broader European hardware space faces mixed sentiment.
WAF
€47.60
Siltronic
7D
-3.4%
1Y
-6.2%

WAF: Customer Inventory Drawdown Will Drive Wafer Volume Recovery Into 2026

Analysts have nudged their average price target on Siltronic slightly higher, reflecting a modest uptick in long term growth expectations as recent research points to recovering wafer volumes into 2026 and reduced downside risks at current EUR share levels. Analyst Commentary Recent Street research reflects a cautiously constructive stance on Siltronic, with multiple target price revisions signaling improving confidence in execution and end market recovery, even as some valuation and cycle timing concerns persist.
P4O
€4.50
Planoptik
7D
2.7%
1Y
27.1%

Planoptik's (ETR:P4O) Returns On Capital Are Heading Higher

Dec 06
Planoptik's (ETR:P4O) Returns On Capital Are Heading Higher
AIXA
€16.87
AIXTRON
7D
-8.1%
1Y
13.5%

AIXA: Data Center And AI Power Demand Will Shape Balanced Future Outlook

The analyst price target for AIXTRON has been modestly increased to EUR 17.50 from EUR 16.93, as analysts highlight stronger long term growth prospects tied to data center and artificial intelligence demand, alongside improving revenue growth and profit margin outlooks. Analyst Commentary Recent Street research reflects a generally constructive stance on AIXTRON, with several upgrades and target price increases underscoring confidence in the companys long term positioning in data center and artificial intelligence related demand.
GY9
€0.016
Smoltek Nanotech Holding
7D
1.3%
1Y
27.4%
SIS
€57.20
First Sensor
7D
1.1%
1Y
-0.7%
M5Z
€0.065
Manz
7D
-34.3%
1Y
-98.5%
CV3
€0.60
Carpevigo Holding
7D
8.1%
1Y
0%
9TS
€0.005
TubeSolar
7D
78.6%
1Y
733.3%