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German (DAX) Telecom Sector Analysis

UpdatedJun 30, 2026
DataAggregated Company Financials
Companies45
  • 7D-3.5%
  • 3M-16.8%
  • 1Y-19.0%
  • YTD-10.5%

Over the last 7 days, the Telecom industry has dropped 3.5%, driven by a pullback from Deutsche Telekom of 5.0%. Overall the industry is down 19% in 12 months. Looking forward, earnings are forecast to grow by 12% annually.

Sector Valuation and Performance

Has the German Telecom Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 01 Jul 2026€178.2b€163.8b€10.9b16.4x16.3x1.1x
Fri, 29 May 2026€199.4b€163.7b€10.9b24.2x18.3x1.2x
Sun, 26 Apr 2026€196.0b€164.3b€11.4b20.1x17.2x1.2x
Tue, 24 Mar 2026€214.3b€164.6b€11.4b24.6x18.7x1.3x
Thu, 19 Feb 2026€216.6b€164.0b€14.0b21.3x15.4x1.3x
Sat, 17 Jan 2026€195.2b€163.1b€13.7b22.5x14.3x1.2x
Mon, 15 Dec 2025€191.9b€163.1b€13.7b22.4x14x1.2x
Wed, 12 Nov 2025€193.3b€162.3b€14.4b24.9x13.4x1.2x
Fri, 10 Oct 2025€208.6b€162.2b€14.4b23.5x14.5x1.3x
Sun, 07 Sep 2025€667.2b€163.1b€14.4b24x46.2x4.1x
Tue, 05 Aug 2025€667.1b€163.5b€13.9b19.2x47.9x4.1x
Thu, 03 Jul 2025€223.4b€162.7b€13.8b24.3x16.2x1.4x
Sat, 31 May 2025€235.2b€162.7b€13.8b26x17x1.4x
Mon, 28 Apr 2025€222.1b€160.6b€13.1b21.9x17x1.4x
Wed, 26 Mar 2025€232.9b€160.7b€13.1b22.3x17.8x1.4x
Fri, 21 Feb 2025€230.2b€157.3b€7.7b29.4x29.9x1.5x
Sun, 19 Jan 2025€208.8b€157.3b€7.7b26.4x27x1.3x
Tue, 17 Dec 2024€206.0b€157.3b€7.7b24.6x26.7x1.3x
Thu, 14 Nov 2024€201.2b€156.7b€6.6b24.1x30.3x1.3x
Sat, 12 Oct 2024€200.5b€156.7b€6.7b26.9x30.1x1.3x
Mon, 09 Sep 2024€188.1b€157.8b€7.1b25.9x26.4x1.2x
Wed, 07 Aug 2024€175.0b€156.2b€6.6b21.6x26.5x1.1x
Fri, 05 Jul 2024€177.2b€156.1b€6.6b23.3x26.8x1.1x
Sun, 02 Jun 2024€171.1b€156.2b€6.6b24.9x25.9x1.1x
Tue, 30 Apr 2024€168.6b€155.9b€6.3b22.9x26.8x1.1x
Thu, 28 Mar 2024€171.4b€155.9b€6.3b26.4x27.3x1.1x
Sat, 24 Feb 2024€169.2b€156.6b€8.3b26x20.3x1.1x
Mon, 22 Jan 2024€215.0b€158.9b€9.1b26.7x23.7x1.4x
Wed, 20 Dec 2023€206.1b€159.0b€9.1b26.1x22.7x1.3x
Fri, 17 Nov 2023€205.2b€159.0b€9.0b27.1x22.8x1.3x
Sun, 15 Oct 2023€196.5b€160.2b€8.5b24.1x23.1x1.2x
Tue, 12 Sep 2023€196.3b€160.5b€8.4b23x23.5x1.2x
Thu, 10 Aug 2023€188.7b€161.4b€8.4b21.1x22.4x1.2x
Sat, 08 Jul 2023€192.4b€160.9b€8.6b23.3x22.4x1.2x
Price to Earnings Ratio

22.4x


Total Market Cap: €192.4bTotal Earnings: €8.6bTotal Revenue: €160.9bTotal Market Cap vs Earnings and Revenue0%0%0%
German Telecom Sector Price to Earnings3Y Average 22.6x202420252026
Current Industry PE
  • Investors are pessimistic on the German Communication Services 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 16.3x which is lower than its 3-year average PE of 22.6x.
  • The 3-year average PS ratio of 1.4x is higher than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have grown 8.3% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the German Telecom sector?

DE Market-2.44%
Telecom-3.53%
Media0.075%
Interactive Media and Services-0.47%
Entertainment-1.35%
Telecom Services and Carriers-3.92%
Wireless Telecom-4.85%
Industry PE
  • Investors are most optimistic about the Media industry even though it's trading below its 3-year average PE ratio of 54.7x.
    • Analysts are expecting annual earnings growth of 29.0%, which is higher than its past year's earnings decline of 10.9% per year.
  • Investors are most pessimistic about the Telecom Services and Carriers industry, which is trading below its 3-year average of 22.2x.
Forecasted Growth
  • Analysts are most optimistic on the Media industry, expecting annual earnings growth of 29% over the next 5 years.
  • This is better than its past earnings decline of 11% per year.
  • In contrast, the Wireless Telecom industry is expected to see its earnings grow by 6.4% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
VTWR Vantage Towers€38.601.0%
+€202.3m		2.7%PE52.5x
SPG Springer Nature KGaA€19.364.1%
+€151.2m		-0.2%PE10.8x
WBAH Wild Bunch€21.0028.0%
+€110.1m		-32.7%PS7.3x
EVD CTS Eventim KGaA€51.051.3%
+€62.4m		-51.0%PE16.6x
LOU DEAG Deutsche Entertainment€2.905.1%
+€3.1m		-27.9%PS0.1x

Latest News

DTE
€23.85
Deutsche Telekom
7D
-9.2%
1Y
-23.3%
1U1
€18.94
1&1
7D
-7.2%
1Y
1.4%
Narrative Update • Jun 27

1U1: Weaker Revenue Outlook And Lower P/E Will Likely Sustain Overvaluation

Analysts have adjusted their price target for 1&1 slightly higher to about €10.56 from roughly €10.10, citing updated expectations for revenue growth, margins, and future P/E assumptions. What’s in the News for 1&1 1&1 AG has been removed from the Germany TECDAX (Total Return) Index, according to key index constituent updates.
FNTN
€22.54
freenet
7D
-7.3%
1Y
-18.4%
Narrative Update • Jun 26

FNTN: Future Returns Will Depend On Resilient Mobile And TV Execution

The analyst price target for freenet is updated to €27.76 from €28.92, reflecting recent Street research in which several firms have trimmed their targets and shifted to more neutral views as they reassess risks around mobile and TV trends. Analyst Commentary Recent Street research on freenet points to a more mixed setup, with price targets clustered in the mid to high €20s and €30 range and ratings that range from Sell to Buy.
SPG
€19.36
Springer Nature KGaA
7D
4.1%
1Y
-0.2%
Narrative Update • Jun 26

SPG: Raised Price View And CFO Transition Will Support Future Upside

Analysts report a modest adjustment to the Springer Nature KGaA target, with the updated fair value moving from about €28.33 to roughly €26.36, as they factor in revised discount rate, growth, margin, and future P/E assumptions, and weigh mixed changes in recent price targets around €26.90 and slightly lower levels. Analyst Commentary Recent research on Springer Nature KGaA shows a mix of optimism and caution, with price targets clustering around the mid €20s and differing views on how execution and growth potential line up with that valuation range.
PSM
€3.36
ProSiebenSat.1 Media
7D
-4.2%
1Y
-52.7%
Narrative Update • Jun 25

PSM: Future Upside Will Rely On Delivering Resilient Profit Margins

Analysts have modestly reduced their price target for ProSiebenSat.1 Media to €5.10 from €5.30, citing updated assumptions for discount rate, revenue growth, profit margin and future P/E that slightly temper their valuation outlook. What’s in the News for ProSiebenSat.1 Media ProSiebenSat.1 Media SE removed from the Germany SDAX (Total Return) Index, according to a recent index constituent update.
EVD
€51.05
CTS Eventim KGaA
7D
1.3%
1Y
-51.0%
Narrative Update • Jun 24

EVD: Live Entertainment Demand And Dividend Policy Will Support Future Returns

The analyst price target for CTS Eventim KGaA has been trimmed by €2.50 to €88.63 as analysts factor in slightly lower fair value, modest adjustments to revenue growth and profit margin assumptions, and updated views on future P/E, even though sector research still points to solid fundamentals for live entertainment. Analyst Commentary Recent Street research on CTS Eventim KGaA shows a mix of optimism about live entertainment demand and more cautious views on ticketing exposure and medium term earnings assumptions.
UTDI
€23.00
United Internet
7D
-3.5%
1Y
-3.8%
Narrative Update • Jun 24

UTDI: Higher P/E Outlook And Dividend Will Support Bullish Repricing

Analysts have nudged their fair value estimate for United Internet higher to €27.0 from €26.0, citing a slightly lower discount rate, modest adjustments to revenue growth and profit margin assumptions, and updated P/E expectations, alongside a raised Street price target of €34. What's in the News United Internet confirmed its consolidated earnings guidance for the full year 2026, with expected consolidated sales of approximately €6.25b, compared with €6.104b in 2025.
TC1
€0.47
Tele Columbus
7D
-9.6%
1Y
11.9%
G24
€72.35
Scout24
7D
-2.1%
1Y
-38.1%
NFN
€3.50
NFON
7D
4.2%
1Y
-46.6%
Narrative Update • Jun 18

NFN: AI Expansion And Partner Programme Will Support Steady Earnings Outlook

Analysts have reduced their price target for NFON to €3.50 from €4.00, citing updated assumptions on fair value, discount rate, revenue growth, profit margin, and future P/E as the basis for the change. What’s in the News for NFON NFON confirmed revenue guidance for the 2026 financial year, expecting revenue growth in the low to mid single digit range, with 2025 revenue growth reported at 2.0% (source: Corporate Guidance).
LOU
€2.90
DEAG Deutsche Entertainment
7D
5.1%
1Y
-27.9%
MF8
€2.00
Cash.Medien
7D
11.1%
1Y
33.3%
BST
€7.16
Bastei Lübbe
7D
1.7%
1Y
-27.5%
O2D
€2.05
Telefónica Deutschland Holding
7D
-0.5%
1Y
-11.3%
VTWR
€38.60
Vantage Towers
7D
1.0%
1Y
2.7%
Analysis Article • Jan 21

A Look At The Fair Value Of Vantage Towers AG (HMSE:VTWR)

Key Insights The projected fair value for Vantage Towers is €43.26 based on Dividend Discount Model With €38.20 share...
WBAH
€21.00
Wild Bunch
7D
28.0%
1Y
-32.7%
Analysis Article • Dec 09

Wild Bunch AG's (FRA:WBAH) Business Is Trailing The Industry But Its Shares Aren't

When you see that almost half of the companies in the Entertainment industry in Germany have price-to-sales ratios (or...