Does This Valuation Of Bechtle AG (ETR:BC8) Imply Investors Are Overpaying?
Nov 11
Have your own idea? Try our Stock Screener
German (DAX) Tech Sector Analysis
UpdatedNov 11, 2025
DataAggregated Company Financials
Companies120
- 7D-5.0%
- 3M-7.6%
- 1Y-0.9%
- YTD-6.7%
Over the last 7 days, the Tech industry has dropped 5.0%, driven by SAP declining 5.5%. On the other hand Elmos Semiconductor is actually up 15%. As for the longer term, the industry's performance has been flat for the past year. Earnings are forecast to grow by 16% annually.
Sector Valuation and Performance
Has the German Tech Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 11 Nov 2025 | €341.2b | €80.3b | €9.3b | 23.8x | 36.8x | 4.2x |
| Thu, 09 Oct 2025 | €369.0b | €80.6b | €8.5b | 28.5x | 43.4x | 4.6x |
| Sat, 06 Sep 2025 | €355.7b | €80.5b | €8.5b | 29.4x | 41.9x | 4.4x |
| Mon, 04 Aug 2025 | €381.0b | €80.5b | €8.7b | 28.7x | 43.8x | 4.7x |
| Wed, 02 Jul 2025 | €400.6b | €80.7b | €7.9b | 27.2x | 50.9x | 5x |
| Fri, 30 May 2025 | €402.5b | €80.8b | €7.8b | 26.7x | 51.9x | 5x |
| Sun, 27 Apr 2025 | €373.4b | €81.0b | €8.1b | 20.3x | 46.1x | 4.6x |
| Tue, 25 Mar 2025 | €389.5b | €79.5b | €5.5b | 19.3x | 70.9x | 4.9x |
| Thu, 20 Feb 2025 | €421.1b | €79.5b | €5.5b | 18.6x | 76x | 5.3x |
| Sat, 18 Jan 2025 | €387.2b | €78.7b | €5.5b | 19.1x | 69.9x | 4.9x |
| Mon, 16 Dec 2024 | €366.7b | €78.9b | €5.5b | 19.5x | 66.4x | 4.6x |
| Wed, 13 Nov 2024 | €340.1b | €79.4b | €6.0b | 17.5x | 56.7x | 4.3x |
| Fri, 11 Oct 2024 | €324.0b | €78.4b | €5.8b | 18.6x | 55.7x | 4.1x |
| Sun, 08 Sep 2024 | €302.9b | €78.4b | €5.8b | 18.6x | 52x | 3.9x |
| Tue, 06 Aug 2024 | €296.6b | €79.7b | €6.3b | 18.6x | 47x | 3.7x |
| Thu, 04 Jul 2024 | €309.2b | €78.1b | €6.5b | 19.5x | 47.8x | 4x |
| Sat, 01 Jun 2024 | €288.0b | €78.6b | €6.3b | 18.8x | 45.5x | 3.7x |
| Mon, 29 Apr 2024 | €294.9b | €79.4b | €6.9b | 17.9x | 42.7x | 3.7x |
| Wed, 27 Mar 2024 | €305.9b | €78.5b | €8.1b | 19.6x | 37.9x | 3.9x |
| Fri, 23 Feb 2024 | €292.2b | €78.1b | €8.3b | 18.6x | 35.1x | 3.7x |
| Sun, 21 Jan 2024 | €272.1b | €80.7b | €6.7b | 19.5x | 40.8x | 3.4x |
| Tue, 19 Dec 2023 | €269.6b | €80.3b | €6.7b | 19.2x | 40.3x | 3.4x |
| Thu, 16 Nov 2023 | €256.3b | €80.2b | €6.7b | 19.4x | 38.4x | 3.2x |
| Sat, 14 Oct 2023 | €233.6b | €79.3b | €6.2b | 20.2x | 37.5x | 2.9x |
| Mon, 11 Sep 2023 | €247.5b | €79.4b | €6.3b | 20.4x | 39.5x | 3.1x |
| Wed, 09 Aug 2023 | €239.1b | €78.9b | €6.3b | 19.9x | 38.2x | 3x |
| Fri, 07 Jul 2023 | €239.6b | €77.4b | €6.0b | 21.7x | 40x | 3.1x |
| Sun, 04 Jun 2023 | €245.3b | €77.8b | €6.3b | 22.9x | 38.7x | 3.2x |
| Tue, 02 May 2023 | €239.9b | €76.3b | €6.0b | 22.4x | 40.1x | 3.1x |
| Thu, 30 Mar 2023 | €231.6b | €75.5b | €6.6b | 24.6x | 34.9x | 3.1x |
| Sat, 25 Feb 2023 | €218.8b | €74.9b | €6.6b | 24.5x | 33.1x | 2.9x |
| Mon, 23 Jan 2023 | €215.7b | €73.5b | €7.3b | 25.2x | 29.5x | 2.9x |
| Wed, 21 Dec 2022 | €198.1b | €73.4b | €7.3b | 23.1x | 27.1x | 2.7x |
| Fri, 18 Nov 2022 | €208.6b | €73.1b | €6.8b | 23.2x | 30.9x | 2.9x |
Price to Earnings Ratio
30.9x
Current Industry PE
- Investors are pessimistic on the German Information Technology 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 36.8x which is lower than its 3-year average PE of 45.4x.
- The 3-year average PS ratio of 3.8x is lower than the industry's current PS ratio of 4.2x.
Past Earnings Growth
- The earnings for companies in the Information Technology industry have grown 11% per year over the last three years.
- Revenues for these companies have grown 3.2% 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 sector?
| DE Market | -0.86% | |
| Tech | -4.97% | |
| Communications | -0.79% | |
| Tech Hardware | -0.97% | |
| Semiconductors | -2.69% | |
| IT | -3.22% | |
| Electronic Equipment and Components | -4.44% | |
| Software | -5.50% | |
Industry PE
- Investors are most optimistic about the Software industry even though it's trading below its 3-year average PE ratio of 72.2x.
- Analysts expect its future annual earnings growth (13.5%) to be largely in line with prior year's earnings growth.
Forecasted Growth
- Analysts are most optimistic on the Tech Hardware industry, expecting annual earnings growth of 75% over the next 5 years.
- In contrast, the Communications industry is expected to see its earnings grow by 12% 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 | |
|---|---|---|---|---|---|
| AIXA AIXTRON | €17.41 | 10.8% +€191.5m | 23.0% | PE21.6x | |
| SMHN SUSS MicroTec | €33.40 | 23.2% +€120.4m | -36.0% | PE11.3x | |
| SANT Kontron | €22.96 | 8.4% +€109.3m | 32.6% | PE10.4x | |
| NB2 Northern Data | €15.08 | 9.4% +€82.8m | -53.9% | PS4.8x | |
| CTNK centrotherm international | €6.90 | 36.6% +€39.2m | 107.8% | PE4.2x |
