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German (DAX) Application Software Industry Analysis

UpdatedMar 07, 2026
DataAggregated Company Financials
Companies37
  • 7D1.1%
  • 3M-19.2%
  • 1Y-32.6%
  • YTDn/a

Over the last 7 days, the Application Software industry has risen 1.1%, driven by gains from SAP of 1.0%. In the same time, Northern Data was down 7.6%. However, the industry is down 33% over the past year. Looking forward, earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 08 Mar 2026€215.6b€40.6b€7.4b21.7x29.2x5.3x
Tue, 03 Feb 2026€219.8b€40.6b€7.6b25.2x29.1x5.4x
Thu, 01 Jan 2026€260.6b€40.3b€7.3b25.8x35.6x6.5x
Sat, 29 Nov 2025€261.2b€40.3b€7.3b24.4x35.8x6.5x
Mon, 27 Oct 2025€291.5b€40.2b€7.3b28.2x39.8x7.2x
Wed, 24 Sep 2025€282.6b€38.9b€6.7b36.8x42.4x7.3x
Fri, 22 Aug 2025€290.9b€39.0b€6.7b31.3x43.7x7.5x
Sun, 20 Jul 2025€330.3b€38.1b€5.9b30.9x56.4x8.7x
Tue, 17 Jun 2025€322.1b€38.4b€5.9b38.8x55x8.4x
Thu, 15 May 2025€322.3b€38.6b€5.8b36.8x55.6x8.3x
Sat, 12 Apr 2025€282.5b€38.2b€3.3b24.1x85.7x7.4x
Mon, 10 Mar 2025€319.0b€38.1b€3.3b25.4x97.6x8.4x
Wed, 05 Feb 2025€329.2b€38.0b€3.3b25.1x99.5x8.7x
Fri, 03 Jan 2025€297.7b€36.9b€2.9b28.4x102x8.1x
Sun, 01 Dec 2024€281.7b€36.8b€2.9b28.2x96.3x7.7x
Tue, 29 Oct 2024€280.0b€36.9b€2.9b30x95.8x7.6x
Thu, 26 Sep 2024€253.6b€36.2b€2.7b29.4x92.8x7x
Sat, 24 Aug 2024€247.3b€36.2b€2.7b30.1x92.1x6.8x
Mon, 22 Jul 2024€226.5b€34.8b€2.6b30.1x87.5x6.5x
Wed, 19 Jun 2024€219.9b€35.1b€2.6b22.8x86.1x6.3x
Fri, 17 May 2024€220.9b€35.1b€2.6b22.7x86.1x6.3x
Sun, 14 Apr 2024€216.5b€35.1b€3.9b21.6x56x6.2x
Tue, 12 Mar 2024€220.3b€34.9b€4.1b20.1x53.5x6.3x
Thu, 08 Feb 2024€213.7b€34.9b€4.1b21.6x52.5x6.1x
Sat, 06 Jan 2024€176.7b€36.0b€2.3b22x76.5x4.9x
Mon, 04 Dec 2023€188.7b€36.0b€2.3b21.8x82.2x5.2x
Wed, 01 Nov 2023€163.8b€35.9b€2.3b25.2x70.7x4.6x
Fri, 29 Sep 2023€156.5b€35.7b€1.9b27.1x82.8x4.4x
Sun, 27 Aug 2023€163.3b€35.7b€1.9b29.3x86.4x4.6x
Tue, 25 Jul 2023€157.0b€35.6b€1.9b29.9x83.2x4.4x
Thu, 22 Jun 2023€161.1b€35.4b€2.3b31.2x71x4.5x
Sat, 20 May 2023€161.9b€35.5b€2.3b30.6x70.5x4.6x
Mon, 17 Apr 2023€151.0b€34.7b€2.9b28.4x52x4.4x
Wed, 15 Mar 2023€142.5b€34.6b€2.9b28.6x49.1x4.1x
Price to Earnings Ratio

49.1x


Total Market Cap: €142.5bTotal Earnings: €2.9bTotal Revenue: €34.6bTotal Market Cap vs Earnings and Revenue0%0%0%
German Application Software Industry Price to Earnings3Y Average 70.2x202420252026
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 29.2x which is lower than its 3-year average PE of 70.2x.
  • The 3-year average PS ratio of 6.4x is higher than the industry's current PS ratio of 5.3x.
Past Earnings Growth
  • The earnings for companies in the Application Software industry have grown 37% 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 Market-6.42%
Tech-2.07%
Software1.09%
Application Software1.09%
Systems Software1.19%
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€172.741.0%
+€2.1b		-32.1%PE28.2x
NEM Nemetschek€69.202.1%
+€161.7m		-38.7%PE39.1x
1INN innoscripta€78.409.8%
+€70.0m		n/aPE18.4x
AOF ATOSS Software€92.004.5%
+€63.6m		-22.0%PE30.3x
TMV TeamViewer€4.772.7%
+€19.5m		-61.9%PE6.3x

Latest News

SAP
€172.74
SAP
7D
1.0%
1Y
-32.1%

SAP: Cloud Conversion And AI Execution Will Drive Future Upside

The updated analyst price target for SAP moves lower to about €250 from roughly €282, as analysts factor in more moderate revenue growth assumptions, a slightly higher discount rate and a lower future P/E multiple, even as margin expectations edge higher and several firms trim price targets despite generally constructive ratings. Analyst Commentary Recent Street research on SAP shows a mix of optimism and caution, with several firms adjusting ratings and price targets while keeping a generally constructive stance on the equity story.
NEM
€69.20
Nemetschek
7D
2.1%
1Y
-38.7%

NEM: Recent Upgrades Support Premium P/E On Long-Term Recurring Revenue Expansion

Our analyst price target for Nemetschek remains at €150, as analysts balance slightly higher assumed revenue growth of 17.59% with a lower profit margin assumption of 21.70% and a higher future P/E of 51.33x, in light of recent mixed rating changes and price target adjustments across the Street. Analyst Commentary Recent Street research on Nemetschek has been mixed, with some price target trims sitting alongside fresh upgrades.
TMV
€4.77
TeamViewer
7D
2.7%
1Y
-61.9%

TMV: AI Automation Reset Will Drive Future Re Rating Potential

The updated analyst price target for TeamViewer edges down from about €16.92 to roughly €16.35. This reflects recent cuts in Street targets and analyst expectations for slightly softer revenue growth, a higher discount rate, modestly better margins, and a lower future P/E assumption.
1INN
€78.40
innoscripta
7D
9.8%
1Y
n/a
CSH
€6.20
CENIT
7D
-4.6%
1Y
-26.6%

CSH: Upcoming Investor Day Will Clarify Profitability Outlook And Undervalued Upside

Analysts have kept their price target for CENIT steady at €16.00, citing updated assumptions around the discount rate, revenue growth, profit margin, and future P/E that still support the same headline valuation level. What's in the News CENIT plans an Analyst/Investor Day event titled "CENIT Aktiengesellschaft Analyst/Investor Day," giving the market a fresh touchpoint with management's updated assumptions and priorities (Key Developments).
SJJ
€13.20
Serviceware
7D
-5.7%
1Y
-7.0%
NB2
€9.52
Northern Data
7D
-7.6%
1Y
-70.5%

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.
FAA
€11.70
Fabasoft
7D
-4.1%
1Y
-36.1%
N4G0
€1.66
NAGA Group
7D
-17.8%
1Y
-66.6%
MUM
€37.80
Mensch und Maschine Software
7D
-4.3%
1Y
-26.7%

Mensch und Maschine Software SE's (ETR:MUM) Earnings Haven't Escaped The Attention Of Investors

Feb 13
Mensch und Maschine Software SE's (ETR:MUM) Earnings Haven't Escaped The Attention Of Investors
AOF
€92.00
ATOSS Software
7D
4.5%
1Y
-22.0%

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
ESY
€17.30
Easy Software
7D
-2.3%
1Y
-4.4%
PSAN
€46.00
PSI Software
7D
0.2%
1Y
56.5%
Y31
€0.016
infinitii ai
7D
100.0%
1Y
-38.5%
MSGL
€4.00
msg life ag
7D
4.7%
1Y
24.2%
SPC
€0.77
Staige One
7D
-18.1%
1Y
-45.4%