Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

German (DAX) Application Software Industry Analysis

UpdatedApr 09, 2026
DataAggregated Company Financials
Companies38
  • 7D0.7%
  • 3M-27.4%
  • 1Y-30.5%
  • YTDn/a

In the last week, the Application Software industry is flat overall, with Swissnet standing out by going down 6.3%. Unfortunately though, the industry is down 31% over the past 12 months. 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
Thu, 09 Apr 2026€187.1b€40.6b€7.1b18.5x26.4x4.6x
Sat, 07 Mar 2026€215.6b€40.6b€7.4b21.7x29.2x5.3x
Mon, 02 Feb 2026€213.9b€40.6b€7.6b25.2x28.3x5.3x
Wed, 31 Dec 2025€260.5b€40.3b€7.3b25.8x35.6x6.5x
Fri, 28 Nov 2025€259.2b€40.3b€7.3b24.4x35.5x6.4x
Sun, 26 Oct 2025€291.5b€40.2b€7.3b28.2x39.8x7.2x
Tue, 23 Sep 2025€280.8b€38.9b€6.7b35.7x42.2x7.2x
Thu, 21 Aug 2025€292.8b€39.0b€6.7b29.1x44x7.5x
Sat, 19 Jul 2025€330.3b€38.1b€5.9b30.9x56.4x8.7x
Mon, 16 Jun 2025€319.0b€38.4b€5.9b38.7x54.5x8.3x
Wed, 14 May 2025€327.2b€38.6b€5.8b36.4x56.4x8.5x
Fri, 11 Apr 2025€288.6b€38.2b€3.3b24.2x87.5x7.5x
Sun, 09 Mar 2025€319.0b€38.1b€3.3b25.4x97.6x8.4x
Tue, 04 Feb 2025€335.4b€38.0b€3.3b25.1x101.4x8.8x
Thu, 02 Jan 2025€294.9b€36.9b€2.9b28.1x101.1x8x
Sat, 30 Nov 2024€281.8b€36.8b€2.9b28.2x96.3x7.7x
Mon, 28 Oct 2024€278.1b€36.9b€2.9b29.8x95.2x7.5x
Wed, 25 Sep 2024€259.3b€36.2b€2.7b29.6x94.9x7.2x
Fri, 23 Aug 2024€248.5b€36.2b€2.7b30.1x92.6x6.9x
Sun, 21 Jul 2024€226.5b€34.8b€2.6b29.9x87.5x6.5x
Tue, 18 Jun 2024€219.5b€35.1b€2.6b22.5x86x6.3x
Thu, 16 May 2024€220.1b€35.1b€2.6b23x85.8x6.3x
Sat, 13 Apr 2024€216.5b€35.1b€3.9b21.6x56x6.2x
Mon, 11 Mar 2024€224.3b€34.9b€4.1b20.1x54.5x6.4x
Wed, 07 Feb 2024€211.8b€34.9b€4.1b21.2x52x6.1x
Fri, 05 Jan 2024€176.0b€36.0b€2.3b21.5x76.2x4.9x
Sun, 03 Dec 2023€188.7b€36.0b€2.3b21.8x82.2x5.2x
Tue, 31 Oct 2023€162.3b€35.9b€2.3b25.6x70.3x4.5x
Thu, 28 Sep 2023€156.1b€35.7b€1.9b27.3x82.6x4.4x
Sat, 26 Aug 2023€163.3b€35.7b€1.9b29.3x86.4x4.6x
Mon, 24 Jul 2023€158.5b€35.6b€1.9b30.1x84x4.5x
Wed, 21 Jun 2023€163.0b€35.4b€2.3b32x71.8x4.6x
Fri, 19 May 2023€161.2b€35.5b€2.3b30.6x70.2x4.5x
Sun, 16 Apr 2023€151.0b€34.7b€2.9b28.4x52x4.4x
Price to Earnings Ratio

52x


Total Market Cap: €151.0bTotal Earnings: €2.9bTotal Revenue: €34.7bTotal Market Cap vs Earnings and Revenue0%0%0%
German Application Software Industry Price to Earnings3Y Average 69.5x202420252026
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 26.4x which is lower than its 3-year average PE of 69.5x.
  • The 3-year average PS ratio of 6.4x is higher than the industry's current PS ratio of 4.6x.
Past Earnings Growth
  • The earnings for companies in the Application Software industry have grown 35% 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 Market2.86%
Tech2.18%
Software0.69%
Application Software0.67%
Systems Software4.19%
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
NB2 Northern Data€8.301.0%
+€5.5m		-64.3%PS6.7x
ESY Easy Software€19.901.5%
+€2.3m		17.1%PE350.9x
MUM Mensch und Maschine Software€34.500.3%
+€1.6m		-30.7%PE17.9x
MSGL msg life ag€3.840.5%
+€856.0k		17.8%n/a
ISHA INTERSHOP Communications€1.013.1%
+€568.7k		-43.6%PS0.6x

Latest News

NB2
€8.30
Northern Data
7D
1.0%
1Y
-64.3%

NB2: Strong 2026 Revenue Guidance Will Support Reappraisal Of Undervalued AI Infrastructure

Analysts have kept their €26.33 price target for Northern Data unchanged, citing essentially steady assumptions for the discount rate, revenue growth, profit margin and future P/E as the basis for maintaining their view. What's in the News Northern Data issued group revenue guidance for the first quarter of fiscal 2026, noting strong revenue momentum supported by its customer allocation strategy, utilization rate and contract pricing (Key Developments).
ISHA
€1.01
INTERSHOP Communications
7D
3.1%
1Y
-43.6%
SAP
€139.30
SAP
7D
-6.4%
1Y
-39.4%

SAP: Cloud Execution And AI Resilience Will Support Future Upside

The analyst price target for SAP has been reduced in line with recent Street moves that lowered targets into the €225 to €290 range, as analysts factor in updated fair value assumptions, a revised future P/E of about 29.5x, and ongoing debates around growth and AI disruption risk. Analyst Commentary Recent Street research on SAP reflects a mix of optimism and caution, with several firms adjusting price targets and, in a few cases, ratings.
SJJ
€12.45
Serviceware
7D
-2.0%
1Y
-11.7%

Serviceware's (ETR:SJJ) Earnings Are Of Questionable Quality

Apr 04
Serviceware's (ETR:SJJ) Earnings Are Of Questionable Quality
NEM
€61.55
Nemetschek
7D
-5.0%
1Y
-39.7%

NEM: Rebased P E And Dividend Policy Will Support Long Term Returns

Nemetschek's updated analyst price target edges slightly lower to about €129.30, as analysts factor in modest adjustments to long term growth, profitability and P/E assumptions following a mix of recent target cuts and rating upgrades across the Street. Analyst Commentary Recent research shows a split picture on Nemetschek, with some firms trimming price targets while others upgrade their stance.
TMV
€4.29
TeamViewer
7D
-2.5%
1Y
-63.3%

TMV: AI Execution Risks Will Trigger Future Earnings Re Rating Opportunity

Narrative Update: TeamViewer Analyst Target Shift The updated analyst price target for TeamViewer is €8.57 per share. This level reflects mixed recent research, with some analysts reducing targets toward €5 on AI-related risks while others turned more positive.
CSH
€6.34
CENIT
7D
0.6%
1Y
-16.1%

CSH: Higher Margin Assumptions And Lower P/E Will Support Undervalued Upside

Analysts have reduced their price target on CENIT from €16.00 to €15.00, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. Valuation Changes Fair Value: Guiding fair value has been reduced from €16.00 to €15.00.
MUM
€34.50
Mensch und Maschine Software
7D
0.3%
1Y
-30.7%

Concerns Surrounding Mensch und Maschine Software's (ETR:MUM) Performance

Mar 24
Concerns Surrounding Mensch und Maschine Software's (ETR:MUM) Performance
AOF
€74.50
ATOSS Software
7D
-2.6%
1Y
-39.7%
1INN
€67.00
innoscripta
7D
-1.6%
1Y
n/a
CLIQ
€3.17
Cliq Digital
7D
2.3%
1Y
-47.1%
ABT
€0.14
Advanced Bitcoin Technologies
7D
15.8%
1Y
-0.7%
R1B
€4.68
Rubean
7D
1.7%
1Y
-3.7%
ESY
€18.10
Easy Software
7D
-5.2%
1Y
4.6%
PSAN
€45.00
PSI Software
7D
-0.7%
1Y
80.0%
MSGL
€3.84
msg life ag
7D
0.5%
1Y
17.8%