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German (DAX) Application Software Industry Analysis

UpdatedMar 26, 2026
DataAggregated Company Financials
Companies38
  • 7D-8.7%
  • 3M-29.1%
  • 1Y-41.4%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 11%, driven by SAP declining 8.9%. However, the industry is down 43% over the past year. Looking forward, 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
Thu, 26 Mar 2026€184.8b€40.6b€7.1b17.5x26.1x4.6x
Sat, 21 Feb 2026€215.9b€40.6b€7.6b21.9x28.6x5.3x
Mon, 19 Jan 2026€251.8b€40.3b€7.3b24.5x34.4x6.3x
Wed, 17 Dec 2025€258.7b€40.3b€7.3b24.3x35.4x6.4x
Fri, 14 Nov 2025€272.1b€40.3b€7.3b25.8x37.2x6.8x
Sun, 12 Oct 2025€287.5b€38.9b€6.7b33.8x43.2x7.4x
Tue, 09 Sep 2025€288.2b€38.9b€6.7b31x43.3x7.4x
Thu, 07 Aug 2025€312.1b€38.9b€6.7b30.1x46.8x8x
Sat, 05 Jul 2025€319.3b€38.1b€5.9b30.4x54.6x8.4x
Mon, 02 Jun 2025€332.2b€38.4b€5.8b41.8x57x8.6x
Wed, 30 Apr 2025€319.1b€39.2b€5.9b31x54.1x8.1x
Fri, 28 Mar 2025€312.5b€38.1b€3.3b25.6x95.4x8.2x
Sun, 23 Feb 2025€341.8b€38.1b€3.3b20.8x103.4x9x
Tue, 21 Jan 2025€320.0b€36.9b€2.9b28x109.7x8.7x
Thu, 19 Dec 2024€299.5b€36.9b€2.9b28.1x102.6x8.1x
Sat, 16 Nov 2024€272.6b€36.8b€2.9b27.7x93.2x7.4x
Mon, 14 Oct 2024€262.6b€36.2b€2.7b30.5x96.1x7.3x
Wed, 11 Sep 2024€243.0b€36.1b€2.7b29.2x89.1x6.7x
Fri, 09 Aug 2024€237.5b€36.2b€2.7b32.1x88.5x6.6x
Sun, 07 Jul 2024€235.4b€34.7b€2.8b30.8x85x6.8x
Tue, 04 Jun 2024€210.9b€35.1b€2.5b25.3x82.8x6x
Thu, 02 May 2024€215.1b€35.8b€2.7b21.4x80.6x6x
Sat, 30 Mar 2024€228.8b€35.1b€3.9b20.1x59.1x6.5x
Mon, 26 Feb 2024€215.8b€34.9b€4.1b20.5x52.9x6.2x
Wed, 24 Jan 2024€192.6b€36.0b€2.3b22.2x83.4x5.3x
Fri, 22 Dec 2023€178.1b€36.0b€2.3b23.9x77.1x4.9x
Sun, 19 Nov 2023€177.9b€36.0b€2.3b23.2x77.5x4.9x
Tue, 17 Oct 2023€158.3b€35.6b€1.9b27.1x84.7x4.4x
Thu, 14 Sep 2023€162.9b€35.7b€1.9b28.5x86.2x4.6x
Sat, 12 Aug 2023€162.8b€35.6b€1.9b31.1x86.1x4.6x
Mon, 10 Jul 2023€158.5b€35.2b€2.0b32x80.5x4.5x
Wed, 07 Jun 2023€162.1b€35.4b€2.3b30.5x71.4x4.6x
Fri, 05 May 2023€158.1b€35.4b€2.3b29.5x69x4.5x
Sun, 02 Apr 2023€150.8b€34.7b€2.9b27.9x52x4.3x
Price to Earnings Ratio

52x


Total Market Cap: €150.8bTotal Earnings: €2.9bTotal Revenue: €34.7bTotal Market Cap vs Earnings and Revenue0%0%0%
German Application Software Industry Price to Earnings3Y Average 69.9x202420252026
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 26.2x which is lower than its 3-year average PE of 69.9x.
  • 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 5.6% 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-2.23%
Tech-6.10%
Software-8.67%
Application Software-8.69%
Systems Software-4.44%
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€4.531.8%
+€12.8m		-64.7%PE6.3x
CSH CENIT€6.689.2%
+€4.7m		-20.9%PS0.3x
ESY Easy Software€17.803.5%
+€4.5m		-1.1%PE313.9x
PSAN PSI Software€45.800.2%
+€1.5m		62.4%PS2.5x
ABT Advanced Bitcoin Technologies€0.1742.9%
+€1.0m		0%PS11.4x

Latest News

NB2
€8.92
Northern Data
7D
-4.1%
1Y
-65.0%

NB2: Higher Revenue Guidance Will Support Reappraisal Of Undervalued AI Infrastructure

Analysts have raised their Northern Data price target to €26.33 per share, supported by updated assumptions that include a higher discount rate, a significantly higher expected revenue growth rate and a lower future P/E multiple. What's in the News Northern Data issued new group revenue guidance for the first quarter of fiscal 2026, citing revenue momentum supported by its customer allocation strategy, utilization rate and contract pricing (Key Developments).
MUM
€33.75
Mensch und Maschine Software
7D
-7.4%
1Y
-33.3%

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

Mar 24
Concerns Surrounding Mensch und Maschine Software's (ETR:MUM) Performance
AOF
€75.70
ATOSS Software
7D
-6.4%
1Y
-40.8%
SAP
€146.90
SAP
7D
-9.0%
1Y
-41.3%

SAP: Cloud Transition Execution And AI Resilience Will Drive Future Returns

The analyst fair value estimate for SAP has been reset from €222.94 to €178.44 as analysts trim price targets and assume a lower future P/E and revenue growth, while still highlighting resilience to AI disruption and steady margin expectations. Analyst Commentary Recent Street research on SAP shows a cluster of reduced price targets alongside a few more positive rating actions, which together feed into a more restrained view of upside.
NEM
€65.05
Nemetschek
7D
-4.3%
1Y
-42.7%

NEM: Rebased P E And Dividend Outlook Will Support Long-Term Recurring Revenue

Nemetschek's updated analyst price target has been reduced from about €150 to roughly €130, reflecting lower Street targets from several banks, combined with revised expectations for growth, margins and future P/E levels. Analyst Commentary Recent research shows a mix of caution and optimism around Nemetschek, with several firms cutting price targets while others highlight upside potential and upgrade their stance.
TMV
€4.53
TeamViewer
7D
1.8%
1Y
-64.7%

TMV: AI Execution Risks Will Set Up Future Earnings Re Rating

Analysts have trimmed the TeamViewer price target to €5, with a lower fair value estimate and reduced future P/E assumptions. This reflects growing caution around AI related risks to the business model.
CSH
€6.68
CENIT
7D
9.2%
1Y
-20.9%

CSH: Higher Discount Rate And Margin Assumptions Will Support Undervalued Upside

Analysts have maintained their €16.00 price target for CENIT, incorporating minor adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions in their updated assessment. Valuation Changes Fair Value: €16.00 remains unchanged in the updated assessment.
1INN
€65.20
innoscripta
7D
-7.6%
1Y
n/a
SJJ
€12.10
Serviceware
7D
-6.9%
1Y
-18.2%
FAA
€11.40
Fabasoft
7D
-4.6%
1Y
-34.1%
ABX
€1.61
Advanced Blockchain
7D
3.5%
1Y
-47.9%
ABT
€0.17
Advanced Bitcoin Technologies
7D
42.9%
1Y
0%
ESY
€17.80
Easy Software
7D
3.5%
1Y
-1.1%
PSAN
€45.80
PSI Software
7D
0.2%
1Y
62.4%