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German (DAX) Semiconductors Industry Analysis

UpdatedApr 28, 2026
DataAggregated Company Financials
Companies16
  • 7D9.9%
  • 3M30.7%
  • 1Y87.0%
  • YTD43.8%

The Semiconductors industry is up 9.9% in the last week, with Infineon Technologies up 12%. In the same time, PVA TePla was down 6.5%. This takes the industry's 12 month performance to a gain of 87%. Earnings are forecast to grow by 26% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 28 Apr 2026€82.4b€18.2b€1.2b58.5x69.6x4.5x
Thu, 26 Mar 2026€62.4b€18.5b€1.2b48.4x53.9x3.4x
Sat, 21 Feb 2026€67.4b€18.5b€1.2b31x55.4x3.6x
Mon, 19 Jan 2026€62.6b€18.3b€1.2b31.7x52.9x3.4x
Wed, 17 Dec 2025€53.7b€18.5b€1.2b21.1x44.1x2.9x
Fri, 14 Nov 2025€53.6b€18.6b€1.2b20.4x43.8x2.9x
Sun, 12 Oct 2025€48.8b€20.1b€1.2b20.2x39.5x2.4x
Tue, 09 Sep 2025€48.0b€20.0b€1.2b19.6x39.1x2.4x
Thu, 07 Aug 2025€51.1b€20.0b€1.3b14.8x39.2x2.5x
Sat, 05 Jul 2025€55.3b€20.1b€1.4b17.6x39.1x2.8x
Mon, 02 Jun 2025€50.7b€20.1b€1.4b13.6x35.8x2.5x
Wed, 30 Apr 2025€43.8b€20.0b€1.6b12.7x26.9x2.2x
Fri, 28 Mar 2025€48.2b€20.1b€1.8b11.9x26.6x2.4x
Sun, 23 Feb 2025€56.6b€20.1b€1.8b13.5x30.9x2.8x
Tue, 21 Jan 2025€51.0b€20.4b€2.2b13.5x23.2x2.5x
Thu, 19 Dec 2024€50.7b€20.4b€2.2b13.7x23.1x2.5x
Sat, 16 Nov 2024€46.0b€20.6b€2.3b12.4x20x2.2x
Mon, 14 Oct 2024€47.1b€20.8b€2.7b13.7x17.6x2.3x
Wed, 11 Sep 2024€44.7b€20.8b€2.7b13.9x16.7x2.1x
Fri, 09 Aug 2024€47.8b€20.8b€2.7b14.6x17.6x2.3x
Sun, 07 Jul 2024€55.9b€21.3b€3.2b14.8x17.4x2.6x
Tue, 04 Jun 2024€57.9b€21.3b€3.2b15.4x18x2.7x
Thu, 02 May 2024€52.3b€21.8b€3.7b14.3x14.2x2.4x
Sat, 30 Mar 2024€51.2b€21.8b€3.7b13.7x13.9x2.4x
Mon, 26 Feb 2024€54.4b€21.6b€3.8b14.5x14.5x2.5x
Wed, 24 Jan 2024€56.7b€21.9b€3.9b14.6x14.6x2.6x
Fri, 22 Dec 2023€61.4b€21.9b€3.9b16.3x15.8x2.8x
Sun, 19 Nov 2023€54.6b€21.9b€3.9b14.7x14.1x2.5x
Tue, 17 Oct 2023€52.2b€21.6b€3.8b14.7x13.6x2.4x
Thu, 14 Sep 2023€53.3b€21.7b€3.9b13.8x13.8x2.5x
Sat, 12 Aug 2023€55.3b€21.5b€3.8b15x14.6x2.6x
Mon, 10 Jul 2023€58.3b€20.9b€3.5b17.2x16.8x2.8x
Wed, 07 Jun 2023€58.0b€20.9b€3.5b17.4x16.7x2.8x
Fri, 05 May 2023€54.1b€19.9b€3.1b17.6x17.6x2.7x
Price to Earnings Ratio

17.6x


Total Market Cap: €54.1bTotal Earnings: €3.1bTotal Revenue: €19.9bTotal Market Cap vs Earnings and Revenue0%0%0%
German Semiconductors Industry Price to Earnings3Y Average 26.6x202420252026
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 69.6x which is higher than its 3-year average PE of 26.6x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 4.5x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have declined 27% per year over the last three years,
  • Revenues have also declined 2.8% 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-1.99%
Tech1.71%
Semiconductors9.89%
Semiconductors11.08%
Semiconductor Equipment1.39%
Industry PE
  • Investors are most optimistic about the Semiconductor Equipment industry even though it's trading below its 3-year average PE ratio of 159x.
    • Analysts are expecting annual earnings growth of 14.7%, which is higher than its past year's earnings decline of 19.8% 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 26.4x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 28% 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 15% 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€52.7510.5%
+€6.5b		80.0%PE68.3x
ELG Elmos Semiconductor€171.601.1%
+€30.9m		197.4%PE29.1x
CTNK centrotherm international€9.4015.3%
+€26.5m		175.7%PE5.8x
WAF Siltronic€70.050.9%
+€18.0m		79.6%PS1.6x
NW1 Windon Energy Group€0.00751,400.0%
+€85.1k		-95.4%PS0.06x

Latest News

WAF
€70.05
Siltronic
7D
0.9%
1Y
79.6%

WAF: Raised Multiple Will Face Pressure From 2026 Earnings Guidance

Siltronic's analyst price target has moved higher, with an updated fair value estimate of €57.60 compared with €52.60 previously. This change reflects analysts' revised assumptions regarding growth, profitability and P/E multiples following recent target increases from the Street.
ELG
€171.60
Elmos Semiconductor
7D
1.1%
1Y
197.4%

ELG: Updated Guidance And Buyback Plan Will Support Future Earnings Multiple

Analysts have raised their price targets on Elmos Semiconductor by a combined €60, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples that support a higher valuation range. Analyst Commentary Bullish analysts have recently lifted their price targets on Elmos Semiconductor by a combined €60, with one move of €45 and another of €15, pointing to a higher valuation range supported by updated modeling assumptions.
SMHN
€68.00
SUSS MicroTec
7D
-0.5%
1Y
103.1%
IFX
€52.75
Infineon Technologies
7D
10.5%
1Y
80.0%

IFX: China Inventory Risk And 2027 Margins Will Anchor Fair Value

The analyst fair value estimate for Infineon Technologies has edged up by about €0.54 to roughly €50.35, supported by recent price target increases from several banks and analyst expectations for slightly higher revenue growth, profit margins, and a modestly lower future P/E multiple, despite some caution around China related inventory risk. Analyst Commentary Recent Street research on Infineon Technologies reflects a mix of optimism around execution and earnings power, balanced by caution on end market risks and valuation assumptions.
TPE
€33.88
PVA TePla
7D
-12.2%
1Y
99.8%

TPE: Multi Year Revenue Guidance Will Test Optimistic Profit And P E Assumptions

The analyst price target for PVA TePla has shifted from €25.00 to €30.00, reflecting analysts' updated assumptions around revenue growth, profit margins, the discount rate and a higher future P/E following recent research updates from major banks. Analyst Commentary Recent research updates from large banks have focused on how PVA TePla's growth profile and earnings power might support a higher valuation, with price targets in the latest notes framed around revised assumptions for revenue, margins and the appropriate P/E multiple.
AIXA
€43.00
AIXTRON
7D
-4.9%
1Y
279.5%
P4O
€9.02
Planoptik
7D
-8.9%
1Y
191.0%
GY9
€0.037
Smoltek Nanotech Holding
7D
-29.4%
1Y
71.3%
SIS
€53.00
First Sensor
7D
-0.9%
1Y
-8.6%
CTNK
€9.40
centrotherm international
7D
15.3%
1Y
175.7%
NW1
€0.0075
Windon Energy Group
7D
1,400.0%
1Y
-95.4%
M5Z
€0.061
Manz
7D
-24.2%
1Y
-69.1%
PS4
€0.017
Phoenix Solar
7D
41.7%
1Y
466.7%