German (DAX) Software Industry Analysis

Industry Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 15 Jun 2026	€177.2b	€41.8b	€7.3b	20.9x	24.2x	4.2x
Wed, 13 May 2026	€180.1b	€41.6b	€7.3b	21.7x	24.7x	4.3x
Fri, 10 Apr 2026	€176.0b	€41.1b	€7.1b	19.2x	24.7x	4.3x
Sun, 08 Mar 2026	€216.5b	€41.1b	€7.4b	25.7x	29.2x	5.3x
Tue, 03 Feb 2026	€220.7b	€41.1b	€7.6b	27.3x	29.1x	5.4x
Thu, 01 Jan 2026	€261.5b	€40.8b	€7.3b	27.4x	35.6x	6.4x
Sat, 29 Nov 2025	€262.2b	€40.8b	€7.3b	27.9x	35.7x	6.4x
Mon, 27 Oct 2025	€292.5b	€40.7b	€7.3b	31.9x	39.8x	7.2x
Wed, 24 Sep 2025	€283.7b	€39.4b	€6.7b	36.5x	42.4x	7.2x
Fri, 22 Aug 2025	€291.9b	€39.4b	€6.7b	31.1x	43.7x	7.4x
Sun, 20 Jul 2025	€331.1b	€38.6b	€5.9b	29.8x	56.4x	8.6x
Tue, 17 Jun 2025	€323.0b	€38.9b	€5.9b	31.1x	54.9x	8.3x
Thu, 15 May 2025	€323.1b	€39.0b	€5.8b	34x	55.5x	8.3x
Sat, 12 Apr 2025	€283.3b	€38.7b	€3.3b	24.1x	85.3x	7.3x
Mon, 10 Mar 2025	€319.8b	€38.5b	€3.3b	23.6x	97.1x	8.3x
Wed, 05 Feb 2025	€329.9b	€38.5b	€3.3b	22.5x	99.1x	8.6x
Fri, 03 Jan 2025	€298.4b	€37.4b	€2.9b	24.4x	101.5x	8x
Sun, 01 Dec 2024	€282.4b	€37.2b	€2.9b	23.5x	95.8x	7.6x
Tue, 29 Oct 2024	€280.7b	€37.3b	€2.9b	25.8x	95.3x	7.5x
Thu, 26 Sep 2024	€254.3b	€36.6b	€2.8b	25.8x	92.4x	7x
Sat, 24 Aug 2024	€250.7b	€37.6b	€2.7b	26.6x	92.8x	6.7x
Mon, 22 Jul 2024	€229.9b	€36.2b	€2.6b	24.3x	88.4x	6.4x
Wed, 19 Jun 2024	€223.2b	€36.5b	€2.6b	21.3x	87x	6.1x
Fri, 17 May 2024	€224.2b	€36.5b	€2.6b	22.7x	87.7x	6.2x
Sun, 14 Apr 2024	€220.1b	€36.5b	€3.9b	22.6x	57.1x	6x
Tue, 12 Mar 2024	€223.7b	€36.2b	€4.1b	20.9x	54.6x	6.2x
Thu, 08 Feb 2024	€217.3b	€36.2b	€4.1b	21.7x	53.6x	6x
Sat, 06 Jan 2024	€182.0b	€38.0b	€2.3b	23.9x	79.9x	4.8x
Mon, 04 Dec 2023	€193.6b	€38.0b	€2.3b	23.1x	85.5x	5.1x
Wed, 01 Nov 2023	€168.4b	€37.9b	€2.3b	24.5x	73.6x	4.4x
Fri, 29 Sep 2023	€161.9b	€37.6b	€1.8b	26.7x	88.1x	4.3x
Sun, 27 Aug 2023	€169.0b	€37.6b	€1.8b	26.4x	91.8x	4.5x
Tue, 25 Jul 2023	€161.8b	€37.5b	€1.8b	29x	87.6x	4.3x
Thu, 22 Jun 2023	€166.4b	€37.4b	€2.2b	31.1x	74.1x	4.5x

Current Industry PE

Investors are pessimistic on the German 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 24.2x which is lower than its 3-year average PE of 68.1x.

The 3-year average PS ratio of 6.4x is higher than the industry's current PS ratio of 4.2x.

Past Earnings Growth

The earnings for companies in the Software industry have grown 48% per year over the last three years.
Revenues for these companies have grown 3.8% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the German Tech industry?


DE Market	-0.16%
Tech	-5.86%
Software	-11.19%
Systems Software	1.35%
Application Software	-11.25%

Industry PE

Investors are most optimistic about the Systems Software industry which is trading above its 3-year average PE ratio.

Analysts are expecting annual earnings growth of 21.1%, which is lower than the prior year's growth of 51.9% per year.

Investors are most pessimistic about the Application Software industry, which is trading below its 3-year average of 67.1x.

Forecasted Growth

Analysts are most optimistic on the Systems Software industry, expecting annual earnings growth of 21% over the next 5 years.
However this is lower than its past earnings growth rate of 52% per year.

In contrast, the Application Software industry is expected to see its earnings grow by 16% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
IXX init innovation in traffic systems	€52.70	3.1% +€15.9m	32.4%	PE23.6x
ISHA INTERSHOP Communications	€1.50	39.5% +€8.1m	-13.8%	PS0.9x
81D Swissnet	€2.76	15.0% +€3.1m	-45.3%	PS1.1x
MON Bloxolid	€0.055	66.7% +€1.9m	1,733.3%	n/a
EXL Exasol	€2.35	3.1% +€1.9m	-24.2%	PE20.9x

SAP SE Receives VS-NfD Authorization To Use For SAP Cloud Infrastructure

SAP SE announced authorization to use from the German Federal Office for Information Security (BSI) to process information classified as "VS-NfD" ("Restricted - For Official Use Only") on SAP Cloud Infrastructure in Walldorf/St. Leon-Rot. SAP is therefore one of only a few providers in Germany that will be offering a cloud environment whose key security components have received corresponding authorization to use from the BSI - and currently the only provider whose platform will be able to support both SAP applications and customer-specific applications in a high-performance, VS-NfD-compliant environment in the near future. The authorization to use applies to workloads running on SAP Cloud Infrastructure in SAP's own data centers in the Walldorf/St. Leon-Rot region, which are operated exclusively by security-cleared personnel. The authorization to use represents an important milestone and forms the basis for the subsequent full BSI approval SAP is working toward, including the recertification of SAP Cloud Infrastructure according to ISO 27001 based on the German IT-Grundschutz framework. The evaluation process was completed in approximately 12 months and was characterized by close and constructive cooperation between the BSI and SAP -- a sign of the growing collaboration between public authorities and industry in the field of IT security. SAP Cloud Infrastructure is an Infrastructure-as-a-Service (IaaS) platform fully developed and operated by SAP, based on open-source technologies. It is designed to provide customers with digital sovereignty across four dimensions: data sovereignty, operational sovereignty, technical sovereignty and legal sovereignty. The foundation is a fully sovereign cloud region of SAP Cloud Infrastructure, comprising three independent availability zones in physically separated data centers in Walldorf/St. Leon-Rot. This sovereign cloud platform is further reinforced by a robust security and compliance foundation, demonstrated through certifications including ISO/IEC 27001 based on IT-Grundschutz for the data centers, EN 50600/ISO/IEC 22237, TSI Level 3+ and C5 Type II. Additionally, SAP Cloud Infrastructure has conducted a self-assessment against the BSI's C3A (Criteria enabling Cloud Computing Autonomy) catalog, confirming compliance with all digital sovereignty requirements. The VS-NfD authorization to use adds an important building block for security-critical use cases with the highest requirements. As a deployment option within SAP Sovereign Cloud, SAP Cloud Infrastructure is an integral part of SAP's portfolio for digital sovereignty. Together with the SAP Sovereign Cloud On-Site offering and Delos Cloud, SAP provides customers with demanding regulatory requirements the freedom of choice, control, and robust security they need.

German (DAX) Software Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

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