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German (DAX) Application Software Industry Analysis

UpdatedDec 26, 2025
DataAggregated Company Financials
Companies36
  • 7D-0.5%
  • 3M-8.1%
  • 1Y-13.3%
  • YTDn/a

Over the last 7 days, the Application Software industry has remained flat, although notably TeamViewer gained 3.9%. Unfortunately though, the industry is down 12% over the past 12 months. Looking forward, earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 26 Dec 2025€259.6b€40.3b€7.3b23.9x35.5x6.4x
Sun, 23 Nov 2025€256.1b€40.3b€7.3b24.3x35x6.4x
Tue, 21 Oct 2025€296.6b€38.9b€6.7b32.8x44.5x7.6x
Thu, 18 Sep 2025€272.3b€38.9b€6.7b34.6x40.9x7x
Sat, 16 Aug 2025€296.8b€39.0b€6.7b29.3x44.6x7.6x
Mon, 14 Jul 2025€323.6b€38.1b€5.9b30.1x55.3x8.5x
Wed, 11 Jun 2025€332.2b€38.4b€5.9b38.9x56.7x8.7x
Fri, 09 May 2025€327.8b€38.6b€5.8b36.8x56.5x8.5x
Sun, 06 Apr 2025€289.4b€38.2b€3.3b23.8x87.7x7.6x
Tue, 04 Mar 2025€339.4b€38.1b€3.3b23.2x103.8x8.9x
Thu, 30 Jan 2025€333.8b€38.0b€3.3b25.1x100.9x8.8x
Sat, 28 Dec 2024€298.8b€36.9b€2.9b28.3x102.4x8.1x
Mon, 25 Nov 2024€283.5b€36.9b€2.9b28.1x97.1x7.7x
Wed, 23 Oct 2024€271.6b€36.9b€2.9b30.3x93x7.4x
Fri, 20 Sep 2024€259.1b€36.2b€2.7b29.9x94.9x7.2x
Sun, 18 Aug 2024€248.0b€36.2b€2.7b30.7x92.6x6.9x
Tue, 16 Jul 2024€234.1b€34.8b€2.6b26.8x89.4x6.7x
Thu, 13 Jun 2024€221.5b€35.1b€2.6b23.4x86.8x6.3x
Sat, 11 May 2024€219.8b€35.1b€2.6b22.9x86x6.3x
Mon, 08 Apr 2024€224.5b€35.1b€3.9b20.2x58.1x6.4x
Wed, 06 Mar 2024€220.3b€34.9b€4.1b20.2x53.5x6.3x
Fri, 02 Feb 2024€207.8b€35.1b€4.0b22.1x51.4x5.9x
Sun, 31 Dec 2023€180.3b€36.0b€2.3b21.6x78.1x5x
Tue, 28 Nov 2023€182.6b€36.0b€2.3b22x79.6x5.1x
Thu, 26 Oct 2023€161.7b€35.8b€2.3b25.6x69.8x4.5x
Sat, 23 Sep 2023€161.0b€35.7b€1.9b27.9x85.2x4.5x
Mon, 21 Aug 2023€161.0b€35.7b€1.9b28.7x85.1x4.5x
Wed, 19 Jul 2023€167.5b€35.2b€2.0b31.3x85.1x4.8x
Fri, 16 Jun 2023€163.5b€35.4b€2.3b33.3x72.1x4.6x
Sun, 14 May 2023€157.9b€35.5b€2.3b30x68.8x4.5x
Tue, 11 Apr 2023€152.0b€34.7b€2.9b28.2x52.3x4.4x
Thu, 09 Mar 2023€143.5b€34.6b€2.9b27.5x49.5x4.1x
Sat, 04 Feb 2023€144.7b€34.6b€2.9b26.7x49.7x4.2x
Mon, 02 Jan 2023€124.5b€34.1b€3.8b25.1x32.6x3.6x
Price to Earnings Ratio

32.6x


Total Market Cap: €124.5bTotal Earnings: €3.8bTotal Revenue: €34.1bTotal Market Cap vs Earnings and Revenue0%0%0%
German Application Software Industry Price to Earnings3Y Average 70.9x20242025
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 35.5x which is lower than its 3-year average PE of 70.9x.
  • The industry is trading close to its 3-year average PS ratio of 6.3x.
Past Earnings Growth
  • The earnings for companies in the Application Software industry have grown 24% per year over the last three years.
  • Revenues for these companies have grown 5.7% 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 Market0.12%
Tech-0.021%
Software-0.54%
Application Software-0.55%
Systems Software2.45%
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
TMV TeamViewer€5.892.1%
+€18.8m		-38.7%PE8x
SJJ Serviceware€18.4510.5%
+€18.4m		55.0%PE171.6x
81D Swissnet€5.4518.0%
+€7.0m		-21.0%PS2.2x
FAA Fabasoft€16.000.6%
+€1.1m		-5.0%PE18.8x
N4G0 NAGA Group€3.221.3%
+€931.1k		-56.7%PS1.1x

Latest News

NB2
€12.94
Northern Data
7D
-5.6%
1Y
-70.6%

NB2: New Leadership Will Unlock Undervalued AI Infrastructure Upside Despite Guidance Withdrawal

Analysts have lowered their price target for Northern Data from EUR 27 to EUR 15. This reflects a more cautious stance on the shares despite only modest updates to discount rate and long term growth and profitability assumptions.
NEM
€92.80
Nemetschek
7D
-1.0%
1Y
-1.9%

NEM: Long-Term Construction Software Adoption Will Drive Recurring Revenue Expansion

Nemetschek's analyst fair value estimate has been trimmed from EUR 161 to about EUR 150, as analysts factor in a modestly higher discount rate and slightly slower top line growth, while still highlighting the company's strong positioning in underpenetrated construction software and upward revisions to several Street price targets. Analyst Commentary Bullish analysts continue to emphasize Nemetschek's attractive positioning in construction software, arguing that the company's exposure to an industry with low digital penetration supports a premium growth profile relative to peers.
DTD2
€2.08
B+S Banksysteme
7D
6.7%
1Y
2.0%

B+S Banksysteme (ETR:DTD2) Is Doing The Right Things To Multiply Its Share Price

Dec 22
B+S Banksysteme (ETR:DTD2) Is Doing The Right Things To Multiply Its Share Price
SAP
€207.70
SAP
7D
-0.5%
1Y
-13.3%

SAP Cloud Transition And Legal Overhangs Are Expected To Shape Returns

Analysts have modestly lifted their price target for SAP, raising fair value to approximately $223 from about $217, as they factor in stronger expected revenue growth and higher future earnings multiples despite slightly lower margin assumptions. This view is supported by a series of recent Overweight and Outperform ratings along with upward target revisions.
TMV
€5.89
TeamViewer
7D
2.1%
1Y
-38.7%

TMV: Cost Controls And Recurring Revenues Will Support Future Earnings Multiple Expansion

Analysts have slightly reduced their price target on TeamViewer to EUR 11 from EUR 14. This reflects modestly lower assumptions for fair value, revenue growth, and profit margins, even as the longer term earnings multiple outlook edges higher.
OSP2
€8.75
USU Software
7D
0.6%
1Y
-60.0%
N4G0
€3.22
NAGA Group
7D
1.3%
1Y
-56.7%
SJJ
€18.45
Serviceware
7D
10.5%
1Y
55.0%

Returns Are Gaining Momentum At Serviceware (ETR:SJJ)

Dec 18
Returns Are Gaining Momentum At Serviceware (ETR:SJJ)
AOF
€113.00
ATOSS Software
7D
-0.4%
1Y
-1.7%
1INN
€86.70
innoscripta
7D
-1.1%
1Y
n/a

Some innoscripta SE (ETR:1INN) Shareholders Look For Exit As Shares Take 25% Pounding

Dec 04
Some innoscripta SE (ETR:1INN) Shareholders Look For Exit As Shares Take 25% Pounding
81D
€5.45
Swissnet
7D
18.0%
1Y
-21.0%

Swissnet AG (FRA:81D) Stock's 26% Dive Might Signal An Opportunity But It Requires Some Scrutiny

Nov 26
Swissnet AG (FRA:81D) Stock's 26% Dive Might Signal An Opportunity But It Requires Some Scrutiny
ESY
€18.60
Easy Software
7D
-2.1%
1Y
1.1%
FAA
€16.00
Fabasoft
7D
0.6%
1Y
-5.0%

We Think You Should Be Aware Of Some Concerning Factors In Fabasoft's (ETR:FAA) Earnings

Nov 15
We Think You Should Be Aware Of Some Concerning Factors In Fabasoft's (ETR:FAA) Earnings
PSAN
€45.00
PSI Software
7D
-2.2%
1Y
114.3%
MUM
€44.60
Mensch und Maschine Software
7D
-0.3%
1Y
-16.2%
Y31
€0.013
infinitii ai
7D
80.0%
1Y
-55.7%