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German (DAX) Semiconductors Industry Analysis

UpdatedDec 30, 2025
DataAggregated Company Financials
Companies16
  • 7D0.5%
  • 3M10.4%
  • 1Y16.3%
  • YTD16.3%

The Semiconductors industry has stayed flat over the last week. The past year has been better, since the industry has gained 16% in that time. 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
Wed, 31 Dec 2025€54.7b€18.3b€1.2b25.9x46.2x3x
Fri, 28 Nov 2025€53.6b€18.5b€1.2b22.4x44x2.9x
Sun, 26 Oct 2025€51.1b€20.1b€1.2b20.8x41.3x2.5x
Tue, 23 Sep 2025€49.9b€20.0b€1.2b20.7x40.6x2.5x
Thu, 21 Aug 2025€53.9b€20.0b€1.2b18.5x43.7x2.7x
Sat, 19 Jul 2025€57.1b€20.1b€1.4b18x40.4x2.8x
Mon, 16 Jun 2025€52.5b€20.1b€1.4b14.7x37.1x2.6x
Wed, 14 May 2025€51.6b€20.1b€1.4b14.3x36.3x2.6x
Fri, 11 Apr 2025€38.5b€20.0b€1.6b10.4x23.6x1.9x
Sun, 09 Mar 2025€53.1b€20.1b€1.8b13x29.7x2.6x
Tue, 04 Feb 2025€48.0b€20.4b€2.2b13.1x21.9x2.4x
Thu, 02 Jan 2025€47.5b€20.4b€2.2b13x21.6x2.3x
Sat, 30 Nov 2024€46.5b€20.4b€2.2b12.5x21.2x2.3x
Mon, 28 Oct 2024€47.0b€20.8b€2.7b13.4x17.7x2.3x
Wed, 25 Sep 2024€45.9b€20.8b€2.7b13.9x17.1x2.2x
Fri, 23 Aug 2024€50.1b€20.8b€2.7b15.1x18.7x2.4x
Sun, 21 Jul 2024€51.8b€21.3b€3.2b13.9x16.1x2.4x
Tue, 18 Jun 2024€56.6b€21.3b€3.2b14.4x17.6x2.7x
Thu, 16 May 2024€59.5b€21.4b€3.2b15.5x18.4x2.8x
Sat, 13 Apr 2024€51.7b€21.8b€3.7b14x14x2.4x
Mon, 11 Mar 2024€55.4b€21.7b€3.8b15x14.7x2.6x
Wed, 07 Feb 2024€54.7b€21.9b€3.9b14.1x14.1x2.5x
Fri, 05 Jan 2024€57.0b€21.9b€3.9b15.1x14.7x2.6x
Sun, 03 Dec 2023€58.5b€21.9b€3.9b15.7x15.1x2.7x
Tue, 31 Oct 2023€45.4b€21.7b€3.9b13x11.7x2.1x
Thu, 28 Sep 2023€50.9b€21.7b€3.9b13.5x13.2x2.4x
Sat, 26 Aug 2023€53.1b€21.7b€3.9b15x13.8x2.5x
Mon, 24 Jul 2023€60.3b€20.9b€3.5b18x17.4x2.9x
Wed, 21 Jun 2023€60.3b€20.9b€3.5b18.8x17.4x2.9x
Fri, 19 May 2023€58.3b€20.9b€3.5b17.1x16.6x2.8x
Sun, 16 Apr 2023€59.4b€20.0b€3.1b19.4x19.2x3x
Tue, 14 Mar 2023€55.3b€19.8b€3.0b19.7x18.6x2.8x
Thu, 09 Feb 2023€57.6b€19.7b€2.9b18.7x19.6x2.9x
Sat, 07 Jan 2023€50.0b€18.9b€2.7b18.4x18.5x2.6x
Price to Earnings Ratio

18.5x


Total Market Cap: €50.0bTotal Earnings: €2.7bTotal Revenue: €18.9bTotal Market Cap vs Earnings and Revenue0%0%0%
German Semiconductors Industry Price to Earnings3Y Average 22.9x20242025
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 46.2x which is higher than its 3-year average PE of 22.9x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have declined 24% 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 Market0.32%
Tech0.06%
Semiconductors0.50%
Semiconductor Equipment2.04%
Semiconductors0.36%
Industry PE
  • Investors are most optimistic about the Semiconductor Equipment industry even though it's trading below its 3-year average PE ratio of 151x.
    • Analysts are expecting annual earnings growth of 16.5%, 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 22.9x.
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 16% 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€37.732.8%
+€1.3b		20.2%PE49.8x
ELG Elmos Semiconductor€97.004.8%
+€75.4m		42.6%PE13.4x
WAF Siltronic€48.904.9%
+€69.0m		5.2%PS1.1x
CTNK centrotherm international€9.4015.3%
+€26.5m		175.7%PE5.8x
AIXA AIXTRON€17.311.0%
+€19.7m		13.7%PE21.5x

Latest News

ELG
€97.00
Elmos Semiconductor
7D
4.8%
1Y
42.6%
AIXA
€17.31
AIXTRON
7D
1.0%
1Y
13.7%

AIXTRON (ETR:AIXA) Is Doing The Right Things To Multiply Its Share Price

Dec 27
AIXTRON (ETR:AIXA) Is Doing The Right Things To Multiply Its Share Price
TPE
€22.80
PVA TePla
7D
1.7%
1Y
76.2%

TPE: Delayed Orders Will Unlock Upside As Metrology Demand Supports Future Recovery

Analysts have reduced their price target on PVA TePla from EUR 37 to EUR 26. This reflects increased caution around growth visibility amid macro uncertainty, customer delays and a softer outlook for Si wafers, even though long term revenue growth and profit margin assumptions have only been modestly trimmed.
SMHN
€39.14
SUSS MicroTec
7D
2.4%
1Y
-19.5%

SMHN: AI Demand And Order Inflection Will Drive Future Upside Potential

Analysts have modestly raised their price target for SUSS MicroTec, reflecting improved conviction that artificial intelligence driven demand, an impending orders inflection, and a still attractive valuation together support potential upside from current levels. Analyst Commentary Street research has turned more constructive overall on SUSS MicroTec, with a series of recent upgrades and higher price targets framing a more positive skew in sentiment, even as some voices highlight execution and cycle risk.
IFX
€37.73
Infineon Technologies
7D
2.8%
1Y
20.2%

IFX: Data Center Power Partnerships Will Drive Future Margin And Share Momentum

Analysts have nudged their price target on Infineon Technologies higher to approximately EUR 41, citing a slightly richer long term valuation multiple supported by resilient margin expectations and incremental growth opportunities from new partnerships in data center power infrastructure. Analyst Commentary Bullish analysts emphasize that the modest lift in the price target reflects increased confidence in Infineon Technologies margin durability and its ability to capture incremental value from secular trends in power electronics for data centers.
WAF
€48.90
Siltronic
7D
4.9%
1Y
5.2%

WAF: Customer Inventory Drawdown Will Support Wafer Demand Recovery Into 2026

Analysts have nudged their average price target for Siltronic higher, reflecting increased confidence that wafer demand is stabilizing after what they view as a potential earnings trough and that gradually recovering volumes into 2026 can support fair value around the mid EUR 50s. Analyst Commentary Recent target changes and rating shifts highlight a more constructive stance on Siltronic, even as views on the pace of recovery remain mixed.
CTNK
€9.40
centrotherm international
7D
15.3%
1Y
175.7%
NW1
€0.057
Windon Energy Group
7D
-2.6%
1Y
-32.9%
GY9
€0.017
Smoltek Nanotech Holding
7D
53.6%
1Y
152.9%

Smoltek Nanotech Holding (FRA:GY9) Has Debt But No Earnings; Should You Worry?

Dec 17
Smoltek Nanotech Holding (FRA:GY9) Has Debt But No Earnings; Should You Worry?
SIS
€55.00
First Sensor
7D
-1.1%
1Y
-6.8%
M5Z
€0.055
Manz
7D
-9.7%
1Y
-96.3%
9TS
€0.001
TubeSolar
7D
-28.6%
1Y
66.7%