Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

German (DAX) Semiconductors Industry Analysis

UpdatedFeb 25, 2026
DataAggregated Company Financials
Companies16
  • 7D4.9%
  • 3M33.9%
  • 1Y28.7%
  • YTD21.7%

Over the last 7 days, the Semiconductors industry has risen 5.7%, driven by gains from Infineon Technologies of 5.0%. During this same period, the Carpevigo Holding underperformed, falling 15%. This takes the industry's 12 month performance to a gain of 23%. 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, 25 Feb 2026€69.9b€18.5b€1.2b34.1x56.6x3.8x
Fri, 23 Jan 2026€63.4b€18.3b€1.2b31.6x53.5x3.5x
Sun, 21 Dec 2025€53.3b€18.3b€1.2b24.9x45x2.9x
Tue, 18 Nov 2025€51.7b€18.5b€1.2b21.3x42.4x2.8x
Thu, 16 Oct 2025€49.7b€20.1b€1.2b20.9x40.1x2.5x
Sat, 13 Sep 2025€47.4b€20.0b€1.2b19.4x38.6x2.4x
Mon, 11 Aug 2025€52.9b€20.1b€1.2b15.5x42.5x2.6x
Wed, 09 Jul 2025€56.6b€20.1b€1.4b17.3x40x2.8x
Fri, 06 Jun 2025€52.7b€20.1b€1.4b14.2x37.3x2.6x
Sun, 04 May 2025€45.0b€20.1b€1.6b13.7x28x2.2x
Tue, 01 Apr 2025€45.0b€20.0b€1.6b11.4x27.8x2.3x
Thu, 27 Feb 2025€54.6b€20.1b€1.8b13.6x29.8x2.7x
Sat, 25 Jan 2025€50.8b€20.4b€2.2b13.4x23.1x2.5x
Mon, 23 Dec 2024€47.3b€20.4b€2.2b12.8x21.6x2.3x
Wed, 20 Nov 2024€44.1b€20.6b€2.3b12x19.2x2.1x
Fri, 18 Oct 2024€47.4b€20.8b€2.7b13.4x17.7x2.3x
Sun, 15 Sep 2024€46.4b€20.8b€2.7b14.2x17.3x2.2x
Tue, 13 Aug 2024€47.7b€20.8b€2.7b14.4x17.8x2.3x
Thu, 11 Jul 2024€55.2b€21.3b€3.2b14.4x17.2x2.6x
Sat, 08 Jun 2024€59.6b€21.3b€3.2b15.7x18.5x2.8x
Mon, 06 May 2024€50.6b€21.8b€3.7b13.7x13.8x2.3x
Wed, 03 Apr 2024€50.0b€21.8b€3.7b13.4x13.5x2.3x
Fri, 01 Mar 2024€53.8b€21.6b€3.8b14.5x14.3x2.5x
Sun, 28 Jan 2024€56.2b€21.9b€3.9b14.4x14.4x2.6x
Tue, 26 Dec 2023€61.0b€21.9b€3.9b16.2x15.7x2.8x
Thu, 23 Nov 2023€54.6b€21.9b€3.9b14.5x14.1x2.5x
Sat, 21 Oct 2023€48.5b€21.6b€3.8b13.8x12.6x2.2x
Mon, 18 Sep 2023€53.2b€21.7b€3.9b13.6x13.8x2.5x
Wed, 16 Aug 2023€54.7b€21.6b€3.9b15x14.2x2.5x
Fri, 14 Jul 2023€62.1b€20.9b€3.5b18.1x17.9x3x
Sun, 11 Jun 2023€59.7b€20.9b€3.5b18x17.2x2.9x
Tue, 09 May 2023€54.9b€20.8b€3.4b15.5x16x2.6x
Thu, 06 Apr 2023€58.2b€20.0b€3.1b19.1x18.8x2.9x
Sat, 04 Mar 2023€55.7b€19.7b€2.9b19.8x18.9x2.8x
Price to Earnings Ratio

18.9x


Total Market Cap: €55.7bTotal Earnings: €2.9bTotal Revenue: €19.7bTotal Market Cap vs Earnings and Revenue0%0%0%
German Semiconductors Industry Price to Earnings3Y Average 24.6x202420252026
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 55.3x which is higher than its 3-year average PE of 24.6x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.7x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have declined 25% 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 Market0.30%
Tech-0.56%
Semiconductors4.89%
Semiconductors5.00%
Semiconductor Equipment3.70%
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 decline of 1.8%, which is less than its past year's earnings decline of 20.8%.
  • 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 24.5x.
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 growth to stay flat 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€46.684.7%
+€2.7b		26.1%PE60.6x
ELG Elmos Semiconductor€142.0014.1%
+€301.7m		103.4%PE19.6x
AIXA AIXTRON€24.163.2%
+€83.4m		73.6%PE30x
SMHN SUSS MicroTec€52.106.8%
+€63.8m		29.9%PE17.6x
WAF Siltronic€54.603.9%
+€61.5m		13.0%PS1.2x

Latest News

GY9
€0.022
Smoltek Nanotech Holding
7D
-3.5%
1Y
-28.8%
IFX
€46.68
Infineon Technologies
7D
4.7%
1Y
26.1%

IFX: Patent Ruling And Radar Partnership Will Shape Balanced Future Prospects

Narrative Update on Infineon Technologies The analyst fair value estimate for Infineon Technologies has shifted slightly higher to €48.78, with modest tweaks to long term assumptions such as discount rate, revenue growth, profit margins and future P/E, reflecting a cluster of recent Street price target increases from around €0.80 to €9. Analyst Commentary Recent Street research on Infineon Technologies has centered on a series of price target adjustments in the €0.80 to €9 range, including changes from JPMorgan and several other large banks.
TPE
€25.52
PVA TePla
7D
1.9%
1Y
77.5%

TPE: Recent Upgrades And 2027 Revenue Guidance Will Support Share Rebound

Analysts have slightly reduced their price target for PVA TePla to about €29.84 from roughly €30.34, while remaining constructive on the shares. Recent upgrades highlight expectations that softer growth metrics could be temporary and that the stock’s recent selloff may have gone too far.
SIS
€54.20
First Sensor
7D
0.4%
1Y
-4.9%
SMHN
€52.10
SUSS MicroTec
7D
6.8%
1Y
29.9%

SMHN: AI Hopes Will Face Rich Pricing And Execution Risk

Analysts have kept their price target for SUSS MicroTec broadly unchanged at about €40.23, with only small tweaks to assumptions such as discount rate, revenue growth, profit margin and future P/E feeding into the updated view. Valuation Changes Fair Value: The modelled fair value remains essentially unchanged at about €40.23 per share.
AIXA
€24.16
AIXTRON
7D
3.2%
1Y
73.6%

AIXA: Higher Future P/E Assumptions Will Face Execution Risk Test

Analysts have nudged their price target on AIXTRON to €13.50, citing updated assumptions on revenue growth and profit margins, as well as a higher future P/E multiple backed by recent upgrades from major research houses. Analyst Commentary Recent research coverage on AIXTRON has included upgrades and refreshed views, but not all commentary is uniformly positive.
WAF
€54.60
Siltronic
7D
3.9%
1Y
13.0%
ELG
€142.00
Elmos Semiconductor
7D
14.1%
1Y
103.4%

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.
CTNK
€9.40
centrotherm international
7D
15.3%
1Y
175.7%
NW1
€0.049
Windon Energy Group
7D
-16.9%
1Y
-31.8%
M5Z
€0.088
Manz
7D
-2.3%
1Y
-78.8%
CV3
€0.42
Carpevigo Holding
7D
-15.3%
1Y
-30.0%
PS4
€0.018
Phoenix Solar
7D
-30.8%
1Y
800.0%
9TS
€0.0061
TubeSolar
7D
-39.0%
1Y
103.3%