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German (DAX) Semiconductors Industry Analysis

UpdatedFeb 11, 2026
DataAggregated Company Financials
Companies16
  • 7D5.0%
  • 3M18.9%
  • 1Y19.4%
  • YTD11.9%

In the last week, the Semiconductors industry is up 5.0%, with Infineon Technologies up 4.4%. In the same time, PVA TePla was down 9.3%. In the last 12 months, the industry was up 19%. Earnings are forecast to grow by 25% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Feb 2026€63.9b€18.5b€1.2b29.1x52.6x3.5x
Fri, 09 Jan 2026€60.4b€18.3b€1.2b28.6x51.1x3.3x
Sun, 07 Dec 2025€56.2b€18.5b€1.2b22.8x46.1x3x
Tue, 04 Nov 2025€52.5b€20.0b€1.2b19.9x45.1x2.6x
Thu, 02 Oct 2025€50.8b€20.0b€1.2b20.6x41.3x2.5x
Sat, 30 Aug 2025€52.0b€20.0b€1.2b18.8x42.3x2.6x
Mon, 28 Jul 2025€52.1b€20.1b€1.4b17.4x36.8x2.6x
Wed, 25 Jun 2025€53.1b€20.1b€1.4b16.1x37.6x2.6x
Fri, 23 May 2025€51.3b€20.1b€1.4b13.4x36.2x2.6x
Sun, 20 Apr 2025€39.7b€20.0b€1.6b11.5x24.4x2x
Tue, 18 Mar 2025€51.2b€20.1b€1.8b12.2x28.6x2.5x
Thu, 13 Feb 2025€54.4b€20.1b€1.8b13.1x29.8x2.7x
Sat, 11 Jan 2025€48.6b€20.4b€2.2b13.7x22.1x2.4x
Mon, 09 Dec 2024€49.2b€20.4b€2.2b13.4x22.4x2.4x
Wed, 06 Nov 2024€45.0b€20.8b€2.7b13.5x17x2.2x
Fri, 04 Oct 2024€46.5b€20.8b€2.7b14.2x17.3x2.2x
Sun, 01 Sep 2024€51.3b€20.8b€2.7b15x19.2x2.5x
Tue, 30 Jul 2024€49.8b€21.2b€3.2b14.2x15.8x2.3x
Thu, 27 Jun 2024€53.3b€21.3b€3.2b13.3x16.6x2.5x
Sat, 25 May 2024€59.8b€21.4b€3.2b15.8x18.5x2.8x
Mon, 22 Apr 2024€48.7b€21.8b€3.7b13.1x13.2x2.2x
Wed, 20 Mar 2024€51.1b€21.6b€3.7b13.7x13.8x2.4x
Fri, 16 Feb 2024€55.0b€21.6b€3.8b14.6x14.6x2.5x
Sun, 14 Jan 2024€55.8b€21.9b€3.9b14.4x14.4x2.6x
Tue, 12 Dec 2023€59.8b€21.9b€3.9b15.8x15.4x2.7x
Thu, 09 Nov 2023€48.6b€21.5b€3.8b14.4x12.8x2.3x
Sat, 07 Oct 2023€53.5b€21.7b€3.9b13.8x13.9x2.5x
Mon, 04 Sep 2023€54.4b€21.7b€3.9b15x14.1x2.5x
Wed, 02 Aug 2023€63.9b€21.0b€3.5b17.7x18.4x3x
Fri, 30 Jun 2023€60.0b€20.9b€3.5b18.3x17.3x2.9x
Sun, 28 May 2023€57.2b€20.9b€3.5b17.7x16.5x2.7x
Tue, 25 Apr 2023€56.6b€19.9b€3.1b18.3x18.3x2.8x
Thu, 23 Mar 2023€56.8b€19.8b€3.0b19.9x19.1x2.9x
Sat, 18 Feb 2023€57.1b€19.7b€2.9b20.1x19.4x2.9x
Price to Earnings Ratio

19.4x


Total Market Cap: €57.1bTotal 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 52.6x 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 3.5x.
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 2.0% 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 Market0.85%
Tech4.87%
Semiconductors4.96%
Semiconductor Equipment9.95%
Semiconductors4.49%
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 3.4%, 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 24.1x.
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 3.4% 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€42.874.4%
+€2.3b		16.7%PE55.6x
AIXA AIXTRON€22.4213.1%
+€292.9m		63.4%PE27.8x
WAF Siltronic€56.4518.0%
+€258.9m		31.7%PS1.3x
ELG Elmos Semiconductor€125.009.6%
+€188.6m		77.8%PE17.3x
CTNK centrotherm international€9.4015.3%
+€26.5m		175.7%PE5.8x

Latest News

GY9
€0.019
Smoltek Nanotech Holding
7D
18.8%
1Y
-66.1%
IFX
€42.87
Infineon Technologies
7D
4.4%
1Y
16.7%

There May Be Some Bright Spots In Infineon Technologies' (ETR:IFX) Earnings

Feb 11
There May Be Some Bright Spots In Infineon Technologies' (ETR:IFX) Earnings
ELG
€125.00
Elmos Semiconductor
7D
9.6%
1Y
77.8%

ELG: Future P/E Repricing Will Support Higher Fair Value Estimate

Analysts have lifted their fair value estimate for Elmos Semiconductor from €118.32 to €145.00, citing updated assumptions around revenue growth, profit margins and future P/E expectations as the key drivers behind the higher target. Analyst Commentary Recent research points to a more confident stance on Elmos Semiconductor, with bullish analysts adjusting their fair value assumptions and supporting a higher price target.
TPE
€22.70
PVA TePla
7D
-9.3%
1Y
69.8%

TPE: Recent Buyback And Jefferies Upgrade Will Support Share Rebound

Analysts have raised their fair value estimate for PVA TePla from about €29.43 to roughly €30.34 per share. They attribute this change to updated assumptions on growth, margins and P/E, and to recent research that characterizes the prior share selloff as overdone and any slowdown in growth momentum as temporary.
WAF
€56.45
Siltronic
7D
18.0%
1Y
31.7%

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.
SMHN
€48.10
SUSS MicroTec
7D
0.7%
1Y
17.7%

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.
CTNK
€9.40
centrotherm international
7D
15.3%
1Y
175.7%
AIXA
€22.42
AIXTRON
7D
13.1%
1Y
63.4%

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.
SIS
€53.80
First Sensor
7D
-0.7%
1Y
0%
NW1
€0.035
Windon Energy Group
7D
-58.8%
1Y
-63.2%
P4O
€5.05
Planoptik
7D
1.4%
1Y
32.9%

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
€0.10
Manz
7D
-12.1%
1Y
-77.1%
CV3
€0.54
Carpevigo Holding
7D
-8.5%
1Y
-16.9%
9TS
€0.008
TubeSolar
7D
-20.0%
1Y
263.6%