Narrative Update • May 23
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- 7D18.5%
- 3M66.6%
- 1Y130.9%
- YTD104.4%
Over the last 7 days, the Semiconductors industry has risen 14%, driven by gains from Infineon Technologies of 20%. In the same time, Windon Energy Group was down 44%. This takes the industry's 12 month performance to a gain of 133%. Looking forward, earnings are forecast to grow by 30% annually.
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 |
|---|---|---|---|---|---|---|
| Wed, 27 May 2026 | €116.8b | €18.4b | €1.2b | 72.1x | 95.6x | 6.3x |
| Fri, 24 Apr 2026 | €81.7b | €18.2b | €1.2b | 61.5x | 69x | 4.5x |
| Sun, 22 Mar 2026 | €58.9b | €18.5b | €1.2b | 48.2x | 50.9x | 3.2x |
| Tue, 17 Feb 2026 | €64.6b | €18.5b | €1.2b | 30.4x | 53.1x | 3.5x |
| Thu, 15 Jan 2026 | €61.7b | €18.3b | €1.2b | 29.5x | 52.1x | 3.4x |
| Sat, 13 Dec 2025 | €54.3b | €18.5b | €1.2b | 20.9x | 44.5x | 2.9x |
| Mon, 10 Nov 2025 | €49.2b | €18.5b | €1.4b | 20.5x | 36.1x | 2.7x |
| Wed, 08 Oct 2025 | €51.1b | €20.1b | €1.2b | 22x | 41.3x | 2.5x |
| Fri, 05 Sep 2025 | €46.8b | €20.0b | €1.2b | 19.4x | 38.1x | 2.3x |
| Sun, 03 Aug 2025 | €50.7b | €20.0b | €1.4b | 15.6x | 36x | 2.5x |
| Tue, 01 Jul 2025 | €54.2b | €20.1b | €1.4b | 16.7x | 38.3x | 2.7x |
| Thu, 29 May 2025 | €51.0b | €20.1b | €1.4b | 13.8x | 36x | 2.5x |
| Sat, 26 Apr 2025 | €44.8b | €20.0b | €1.6b | 12.7x | 27.5x | 2.2x |
| Mon, 24 Mar 2025 | €49.6b | €20.1b | €1.8b | 12.5x | 27.3x | 2.5x |
| Wed, 19 Feb 2025 | €55.7b | €20.1b | €1.8b | 13.2x | 30.5x | 2.8x |
| Fri, 17 Jan 2025 | €49.9b | €20.4b | €2.2b | 13.5x | 22.7x | 2.5x |
| Sun, 15 Dec 2024 | €49.7b | €20.4b | €2.2b | 13.6x | 22.6x | 2.4x |
| Tue, 12 Nov 2024 | €45.4b | €20.9b | €2.7b | 12.7x | 17x | 2.2x |
| Thu, 10 Oct 2024 | €47.5b | €20.8b | €2.7b | 13.8x | 17.7x | 2.3x |
| Sat, 07 Sep 2024 | €45.3b | €20.8b | €2.7b | 13.8x | 16.9x | 2.2x |
| Mon, 05 Aug 2024 | €46.9b | €21.2b | €3.2b | 13.5x | 14.9x | 2.2x |
| Wed, 03 Jul 2024 | €53.3b | €21.3b | €3.2b | 13.2x | 16.6x | 2.5x |
| Fri, 31 May 2024 | €58.2b | €21.3b | €3.2b | 15.6x | 18.1x | 2.7x |
| Sun, 28 Apr 2024 | €53.0b | €21.8b | €3.7b | 14.4x | 14.3x | 2.4x |
| Tue, 26 Mar 2024 | €50.7b | €21.6b | €3.7b | 13.9x | 13.7x | 2.3x |
| Thu, 22 Feb 2024 | €54.1b | €21.6b | €3.8b | 14.4x | 14.4x | 2.5x |
| Sat, 20 Jan 2024 | €55.8b | €21.9b | €3.9b | 14.3x | 14.3x | 2.5x |
| Mon, 18 Dec 2023 | €62.7b | €21.9b | €3.9b | 16.3x | 16.1x | 2.9x |
| Wed, 15 Nov 2023 | €50.6b | €21.9b | €3.9b | 14.4x | 13.1x | 2.3x |
| Fri, 13 Oct 2023 | €54.1b | €21.6b | €3.8b | 15.3x | 14x | 2.5x |
| Sun, 10 Sep 2023 | €53.3b | €21.7b | €3.9b | 14x | 13.8x | 2.5x |
| Tue, 08 Aug 2023 | €57.4b | €21.5b | €3.8b | 15.4x | 15.1x | 2.7x |
| Thu, 06 Jul 2023 | €60.1b | €20.9b | €3.5b | 17.9x | 17.3x | 2.9x |
| Sat, 03 Jun 2023 | €58.7b | €20.9b | €3.5b | 17.7x | 16.9x | 2.8x |
Price to Earnings Ratio
16.9x
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 94.5x which is higher than its 3-year average PE of 28.3x.
- The 3-year average PS ratio of 2.7x is lower than the industry's current PS ratio of 6.3x.
Past Earnings Growth
- The earnings for companies in the Semiconductor industry have declined 29% per year over the last three years,
- Revenues have also declined 4.1% 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 | 2.85% | |
| Tech | 4.13% | |
| Semiconductors | 18.51% | |
| Semiconductors | 19.36% | |
| Semiconductor Equipment | 11.75% | |
Industry PE
- Investors are most optimistic about the Semiconductor Equipment industry which is trading above its 3-year average PE ratio of 156x.
- Analysts are expecting annual earnings growth of 28.3%, which is higher than its past year's earnings decline of 42.1% 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 27.8x.
Forecasted Growth
- Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 30% over the next 5 years.
- This is better than its past earnings decline of 12% per year.
- In contrast, the Semiconductor Equipment industry is expected to see its earnings grow by 28% 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 | €77.55 | 20.0% +€16.8b | 123.5% | PE93.8x | |
| WAF Siltronic | €97.05 | 14.8% +€375.0m | 163.9% | PS2.2x | |
| AIXA AIXTRON | €52.76 | 5.5% +€311.3m | 321.1% | PE102.2x | |
| ELG Elmos Semiconductor | €185.20 | 5.9% +€178.4m | 168.4% | PE29.2x | |
| SMHN SUSS MicroTec | €93.30 | 9.1% +€149.1m | 134.9% | PE50.4x |
