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German (DAX) Application Software Industry Analysis

UpdatedFeb 25, 2026
DataAggregated Company Financials
Companies37
  • 7D-2.2%
  • 3M-20.2%
  • 1Y-39.4%
  • YTDn/a

The Application Software industry has stayed flat over the last week. As for the longer term, the industry has declined 39% in the last year. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

Has the German Application Software Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Feb 2026€206.6b€40.6b€7.6b21.8x27.3x5.1x
Fri, 23 Jan 2026€237.4b€40.3b€7.3b25.2x32.5x5.9x
Sun, 21 Dec 2025€260.9b€40.3b€7.3b24.1x35.7x6.5x
Tue, 18 Nov 2025€258.6b€40.3b€7.3b24.9x35.4x6.4x
Thu, 16 Oct 2025€291.6b€38.9b€6.7b32.1x43.8x7.5x
Sat, 13 Sep 2025€276.2b€38.9b€6.7b34.9x41.5x7.1x
Mon, 11 Aug 2025€314.2b€39.0b€6.7b30x47.1x8.1x
Wed, 09 Jul 2025€330.0b€38.1b€5.9b31.2x56.4x8.7x
Fri, 06 Jun 2025€338.9b€38.4b€5.9b39x57.9x8.8x
Sun, 04 May 2025€333.8b€39.3b€5.9b32.4x56.3x8.5x
Tue, 01 Apr 2025€306.1b€38.3b€3.3b24.9x92.8x8x
Thu, 27 Feb 2025€343.2b€38.1b€3.3b23x105x9x
Sat, 25 Jan 2025€329.5b€36.9b€2.9b27.9x112.9x8.9x
Mon, 23 Dec 2024€295.2b€36.9b€2.9b28.3x101.1x8x
Wed, 20 Nov 2024€276.1b€36.9b€2.9b28x94.6x7.5x
Fri, 18 Oct 2024€266.5b€36.2b€2.7b30.8x97.6x7.4x
Sun, 15 Sep 2024€252.6b€36.2b€2.7b29.6x92.5x7x
Tue, 13 Aug 2024€238.9b€36.2b€2.7b30.9x89.3x6.6x
Thu, 11 Jul 2024€231.2b€34.7b€2.8b27.5x83.5x6.7x
Sat, 08 Jun 2024€222.1b€35.1b€2.6b23.5x87x6.3x
Mon, 06 May 2024€215.8b€35.8b€2.7b22.1x80.7x6x
Wed, 03 Apr 2024€224.0b€35.1b€3.9b20.2x57.9x6.4x
Fri, 01 Mar 2024€219.6b€34.9b€4.1b20.6x53.8x6.3x
Sun, 28 Jan 2024€204.9b€35.1b€4.0b22.2x50.7x5.8x
Tue, 26 Dec 2023€178.7b€36.0b€2.3b23.1x77.4x5x
Thu, 23 Nov 2023€182.6b€36.0b€2.3b24.1x79.5x5.1x
Sat, 21 Oct 2023€159.6b€35.5b€2.6b26.8x61.3x4.5x
Mon, 18 Sep 2023€163.9b€35.7b€1.9b28.7x86.7x4.6x
Wed, 16 Aug 2023€163.8b€35.6b€1.9b30.6x86.7x4.6x
Fri, 14 Jul 2023€166.9b€35.2b€2.0b32.4x84.8x4.7x
Sun, 11 Jun 2023€161.6b€35.4b€2.3b31.6x71.2x4.6x
Tue, 09 May 2023€159.6b€35.4b€2.3b29.3x69.5x4.5x
Thu, 06 Apr 2023€151.1b€34.7b€2.9b27.8x52.1x4.4x
Sat, 04 Mar 2023€141.5b€34.6b€2.9b27.2x48.7x4.1x
Price to Earnings Ratio

48.7x


Total Market Cap: €141.5bTotal Earnings: €2.9bTotal Revenue: €34.6bTotal Market Cap vs Earnings and Revenue0%0%0%
German Application Software Industry Price to Earnings3Y Average 70.4x202420252026
Current Industry PE
  • Investors are pessimistic on the German Application Software industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 27.6x which is lower than its 3-year average PE of 70.4x.
  • The 3-year average PS ratio of 6.4x is higher than the industry's current PS ratio of 5.1x.
Past Earnings Growth
  • The earnings for companies in the Application Software industry have grown 38% per year over the last three years.
  • Revenues for these companies have grown 5.4% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does German Application Software compare with similar industries?

DE Market0.30%
Tech-0.56%
Software-2.22%
Application Software-2.24%
Systems Software2.03%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PSAN PSI Software€45.701.3%
+€9.3m		86.5%PS2.5x
MSGL msg life ag€3.821.1%
+€1.7m		19.4%n/a
81D Swissnet€5.001.6%
+€678.8k		-29.1%PS2x
OSP2 USU Software€9.000.6%
+€501.8k		-60.9%PS1.8x
DTD2 B+S Banksysteme€2.004.2%
+€496.8k		1.5%PE8.5x

Latest News

TMV
€4.48
TeamViewer
7D
-6.6%
1Y
-63.6%
1INN
€62.50
innoscripta
7D
-2.2%
1Y
n/a

R&D Tax Incentives And International Expansion Will Support Long Term Earnings Potential

Catalysts About innoscripta Innoscripta offers software and services that help companies document R&D activities, optimize R&D workflows and claim R&D tax credits with a high degree of compliance. What are the underlying business or industry changes driving this perspective?
NB2
€11.16
Northern Data
7D
-5.4%
1Y
-70.7%

NB2: Steady Core Assumptions Will Support Reappraisal Of Undervalued AI Infrastructure

Analysts have maintained their €26.33 price target on Northern Data, making only minor adjustments to assumptions around the discount rate, profit margin and future P/E, without indicating any change in their core view of the company. Valuation Changes Fair Value: Unchanged at €26.33 per share, indicating no adjustment to the core valuation estimate.
SAP
€165.84
SAP
7D
-2.2%
1Y
-39.1%

SAP: AI And Cloud Progress May Support Trough-Level Rebound Ahead

Our updated analyst price target for SAP edges slightly lower by about €1 to €314. This reflects recent recalibrations from banks that cut their targets in Europe and the US while still highlighting solid long term fundamentals in revenue growth, profitability and P/E assumptions.
NEM
€64.55
Nemetschek
7D
-1.8%
1Y
-44.6%

NEM: Construction Software Digitization Will Sustain Premium Multiples Despite Mixed Rating Adjustments

The updated analyst price target for Nemetschek edges lower to about €119 per share, as analysts balance slightly adjusted fair value, discount rate and profit margin assumptions with supportive views on the company's long term revenue growth outlook, reflected in recent upgrades and trimmed targets across the Street. Analyst Commentary Recent Street research on Nemetschek reflects a mix of optimism on growth and digital adoption in construction software, alongside some caution around valuation and execution expectations, which together shape the latest price target adjustments.
DTD2
€2.00
B+S Banksysteme
7D
4.2%
1Y
1.5%
FAA
€11.85
Fabasoft
7D
-8.1%
1Y
-32.3%
TBX0
€8.05
tick Trading Software
7D
0.6%
1Y
-0.6%
N4G0
€2.43
NAGA Group
7D
-9.0%
1Y
-58.8%
AOF
€80.60
ATOSS Software
7D
-3.5%
1Y
-31.5%

ATOSS Software SE's (ETR:AOF) 26% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/ERatio

Feb 05
ATOSS Software SE's (ETR:AOF) 26% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/ERatio
OSP2
€9.00
USU Software
7D
0.6%
1Y
-60.9%
81D
€5.00
Swissnet
7D
1.6%
1Y
-29.1%
PSAN
€45.70
PSI Software
7D
1.3%
1Y
86.5%
8R20
€0.033
Universal Digital
7D
22.2%
1Y
n/a
MSGL
€3.82
msg life ag
7D
1.1%
1Y
19.4%