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German (DAX) Application Software Industry Analysis

UpdatedFeb 11, 2026
DataAggregated Company Financials
Companies37
  • 7D6.1%
  • 3M-18.5%
  • 1Y-36.3%
  • YTDn/a

Last week, the Application Software industry hasn't moved much but SAP is up 6.8% in that time. Unfortunately though, the industry is down 36% over the past 12 months. Earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Feb 2026€222.5b€40.6b€7.6b24.5x29.4x5.5x
Fri, 09 Jan 2026€258.0b€40.3b€7.3b25.2x35.3x6.4x
Sun, 07 Dec 2025€266.9b€40.3b€7.3b24.3x36.5x6.6x
Tue, 04 Nov 2025€285.8b€40.3b€7.3b30.7x39.2x7.1x
Thu, 02 Oct 2025€284.3b€38.9b€6.7b34x42.7x7.3x
Sat, 30 Aug 2025€290.0b€38.9b€6.7b35.5x43.6x7.4x
Mon, 28 Jul 2025€306.8b€38.9b€6.7b30x46.1x7.9x
Wed, 25 Jun 2025€318.8b€38.3b€5.9b31.2x54.4x8.3x
Fri, 23 May 2025€329.9b€38.4b€5.8b37.8x56.6x8.6x
Sun, 20 Apr 2025€284.9b€38.2b€3.3b28.3x86.5x7.5x
Tue, 18 Mar 2025€310.0b€38.0b€3.3b25.6x94.8x8.1x
Thu, 13 Feb 2025€348.7b€38.0b€3.3b23.1x105.5x9.2x
Sat, 11 Jan 2025€307.0b€36.9b€2.9b28.5x105.2x8.3x
Mon, 09 Dec 2024€303.0b€36.9b€2.9b28.1x103.8x8.2x
Wed, 06 Nov 2024€271.1b€36.9b€2.9b28.9x92.8x7.3x
Fri, 04 Oct 2024€252.8b€36.2b€2.7b31.2x92.6x7x
Sun, 01 Sep 2024€250.2b€36.2b€2.7b30x91.1x6.9x
Tue, 30 Jul 2024€241.0b€35.5b€2.6b30.2x93.7x6.8x
Thu, 27 Jun 2024€231.6b€35.1b€2.6b24.5x90.7x6.6x
Sat, 25 May 2024€225.2b€35.1b€2.6b21.9x88.1x6.4x
Mon, 22 Apr 2024€209.4b€35.1b€3.9b23x54.1x6x
Wed, 20 Mar 2024€219.6b€34.9b€4.1b19.8x53.3x6.3x
Fri, 16 Feb 2024€209.7b€34.9b€4.1b21.1x51.4x6x
Sun, 14 Jan 2024€186.6b€36.0b€2.3b22.2x80.8x5.2x
Tue, 12 Dec 2023€189.4b€36.0b€2.3b22x82.6x5.3x
Thu, 09 Nov 2023€172.3b€36.0b€2.3b23.7x75x4.8x
Sat, 07 Oct 2023€159.4b€35.7b€1.9b27.6x84.6x4.5x
Mon, 04 Sep 2023€165.7b€35.7b€1.9b29x87.7x4.6x
Wed, 02 Aug 2023€161.6b€35.6b€1.9b32.2x86.7x4.5x
Fri, 30 Jun 2023€161.5b€35.5b€2.3b31.9x71.4x4.6x
Sun, 28 May 2023€159.8b€35.5b€2.3b31.3x69.6x4.5x
Tue, 25 Apr 2023€155.5b€34.7b€2.9b27.2x53.5x4.5x
Thu, 23 Mar 2023€146.6b€34.7b€2.9b29.3x50.6x4.2x
Sat, 18 Feb 2023€141.2b€34.6b€2.9b26.7x48.6x4.1x
Price to Earnings Ratio

48.6x


Total Market Cap: €141.2bTotal Earnings: €2.9bTotal Revenue: €34.6bTotal Market Cap vs Earnings and Revenue0%0%0%
German Application Software Industry Price to Earnings3Y Average 70.7x202420252026
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 28.8x which is lower than its 3-year average PE of 70.7x.
  • The 3-year average PS ratio of 6.4x is higher than the industry's current PS ratio of 5.4x.
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 5.5% 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 Market0.85%
Tech4.87%
Software6.08%
Application Software6.12%
Systems Software-2.82%
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
SAP SAP€178.286.8%
+€13.1b		-36.0%PE28.3x
AOF ATOSS Software€91.301.4%
+€20.7m		-20.5%PE31.1x
TMV TeamViewer€5.531.5%
+€12.6m		-53.3%PE7.3x
MSGL msg life ag€3.782.2%
+€3.4m		18.1%n/a
PSAN PSI Software€45.400.4%
+€3.1m		89.2%PS2.4x

Latest News

FAA
€14.05
Fabasoft
7D
-7.6%
1Y
-21.3%
TMV
€5.53
TeamViewer
7D
1.5%
1Y
-53.3%
SAP
€178.28
SAP
7D
6.8%
1Y
-36.0%
NB2
€12.40
Northern Data
7D
-0.9%
1Y
-73.0%

NB2: Refined Discount Assumptions Will Clarify Undervalued AI Infrastructure Upside Potential

Analysts have maintained their overall fair value estimate for Northern Data at €26.33, while making adjustments to inputs such as a slightly higher discount rate and marginally revised future P/E and margin assumptions. These changes result in a more refined, yet directionally unchanged, price target narrative.
1INN
€69.30
innoscripta
7D
-25.8%
1Y
n/a
NEM
€71.55
Nemetschek
7D
-0.8%
1Y
-41.5%

NEM: Construction Software Adoption Will Drive Future Upside Despite Mixed Bank Views

Analysts have maintained their fair value estimate for Nemetschek at €90. They explain that recent mixed price target changes from banks reflect differing views on the stock's growth profile and appropriate P/E multiple, rather than indicating a clear shift in the underlying outlook.
SJJ
€14.75
Serviceware
7D
-13.2%
1Y
-2.3%

Is There An Opportunity With Serviceware SE's (ETR:SJJ) 34% Undervaluation?

Feb 05
Is There An Opportunity With Serviceware SE's (ETR:SJJ) 34% Undervaluation?
AOF
€91.30
ATOSS Software
7D
1.4%
1Y
-20.5%

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
N4G0
€2.61
NAGA Group
7D
-10.3%
1Y
-59.1%
MUM
€42.80
Mensch und Maschine Software
7D
-0.7%
1Y
-17.4%

Is Mensch und Maschine Software (ETR:MUM) A Risky Investment?

Jan 29
Is Mensch und Maschine Software (ETR:MUM) A Risky Investment?
INW
€3.92
GBS Software
7D
12.0%
1Y
29.8%
OSP2
€8.70
USU Software
7D
-2.8%
1Y
-61.5%
R1B
€5.55
Rubean
7D
5.7%
1Y
26.1%
PSAN
€45.40
PSI Software
7D
0.4%
1Y
89.2%
Y31
€0.011
infinitii ai
7D
40.0%
1Y
-64.4%
MSGL
€3.78
msg life ag
7D
2.2%
1Y
18.1%