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German (DAX) Telecom Sector Analysis

UpdatedDec 25, 2025
DataAggregated Company Financials
Companies45
  • 7D0.7%
  • 3M-4.0%
  • 1Y-1.9%
  • YTD-3.1%

Over the last 7 days, the Telecom industry has risen 2.5%, driven by gains from Deutsche Telekom of 2.8%. Overall in the last year, the industry is flat. Earnings are forecast to grow by 7.4% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025€195.7b€163.1b€13.7b22.8x14.3x1.2x
Sat, 22 Nov 2025€195.3b€162.7b€14.0b24.6x14x1.2x
Mon, 20 Oct 2025€208.3b€162.2b€14.4b23.3x14.5x1.3x
Wed, 17 Sep 2025€208.8b€162.2b€14.4b24.2x14.5x1.3x
Fri, 15 Aug 2025€673.1b€163.5b€14.6b22.7x46.1x4.1x
Sun, 13 Jul 2025€220.9b€162.7b€13.8b25x16x1.4x
Tue, 10 Jun 2025€236.6b€162.7b€13.8b26x17.1x1.5x
Thu, 08 May 2025€226.7b€160.6b€13.1b24.5x17.4x1.4x
Sat, 05 Apr 2025€224.9b€160.7b€13.1b21.1x17.2x1.4x
Mon, 03 Mar 2025€233.9b€158.9b€12.9b25.1x18.1x1.5x
Wed, 29 Jan 2025€207.1b€157.3b€7.7b27.9x26.8x1.3x
Fri, 27 Dec 2024€199.6b€157.3b€7.7b23.6x25.8x1.3x
Sun, 24 Nov 2024€208.4b€157.7b€7.6b22.7x27.6x1.3x
Tue, 22 Oct 2024€204.5b€156.7b€6.7b27.7x30.7x1.3x
Thu, 19 Sep 2024€190.9b€157.8b€7.1b26.2x26.7x1.2x
Sat, 17 Aug 2024€182.6b€157.6b€7.1b24.3x25.7x1.2x
Mon, 15 Jul 2024€178.3b€156.1b€6.6b23.5x27x1.1x
Wed, 12 Jun 2024€172.2b€156.2b€6.6b24.7x26.1x1.1x
Fri, 10 May 2024€169.3b€156.0b€6.2b24.5x27.2x1.1x
Sun, 07 Apr 2024€169.9b€155.9b€6.3b26.1x27x1.1x
Tue, 05 Mar 2024€169.0b€156.4b€6.5b26.2x25.8x1.1x
Thu, 01 Feb 2024€214.4b€158.9b€9.1b27.7x23.6x1.3x
Sat, 30 Dec 2023€208.4b€159.0b€9.1b27.7x22.9x1.3x
Mon, 27 Nov 2023€208.1b€159.0b€9.1b25.4x23x1.3x
Wed, 25 Oct 2023€194.6b€160.2b€8.5b23.7x22.9x1.2x
Fri, 22 Sep 2023€197.6b€160.5b€8.4b22.2x23.6x1.2x
Sun, 20 Aug 2023€188.6b€160.5b€8.4b23x22.4x1.2x
Tue, 18 Jul 2023€194.8b€160.9b€8.6b25.2x22.7x1.2x
Thu, 15 Jun 2023€192.0b€160.7b€8.5b23.1x22.7x1.2x
Sat, 13 May 2023€173.3b€158.0b€10.0b18.7x17.3x1.1x
Mon, 10 Apr 2023€179.8b€158.2b€10.1b20.6x17.9x1.1x
Wed, 08 Mar 2023€175.5b€157.6b€10.1b19.9x17.4x1.1x
Fri, 03 Feb 2023€172.0b€157.5b€9.8b20.5x17.5x1.1x
Sun, 01 Jan 2023€155.6b€157.5b€9.8b19.5x15.8x1x
Price to Earnings Ratio

15.8x


Total Market Cap: €155.6bTotal Earnings: €9.8bTotal Revenue: €157.5bTotal Market Cap vs Earnings and Revenue0%0%0%
German Telecom Sector Price to Earnings3Y Average 22.9x202320242025
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 14.3x which is lower than its 3-year average PE of 22.9x.
  • The 3-year average PS ratio of 1.3x is higher than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have grown 12% 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 Market0.36%
Telecom0.72%
Wireless Telecom1.47%
Media0.97%
Telecom Services and Carriers0.74%
Entertainment0.48%
Interactive Media and Services-0.71%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 34.8x.
    • Analysts are expecting annual earnings growth of 7.1%, which is higher than its past year's earnings decline of 12.0% per year.
  • Investors are most pessimistic about the Telecom Services and Carriers industry, which is trading below its 3-year average of 22.5x.
Forecasted Growth
  • Analysts are most optimistic on the Interactive Media and Services industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings decline of 12% per year.
  • In contrast, the Telecom Services and Carriers industry is expected to see its earnings grow by 6.5% 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
DTE Deutsche Telekom€27.480.5%
+€665.5m		-4.7%PE10.8x
O2D Telefónica Deutschland Holding€2.046.8%
+€386.7m		-2.5%PE18.1x
UTDI United Internet€27.002.7%
+€124.4m		78.2%PE36x
1U1 1&1€24.252.8%
+€114.6m		111.6%PE33.6x
SPG Springer Nature KGaA€18.883.1%
+€111.4m		-30.0%PE22.8x

Latest News

EVD
€77.95
CTS Eventim KGaA
7D
0.6%
1Y
-5.6%

Subdued Growth No Barrier To CTS Eventim AG & Co. KGaA's (ETR:EVD) Price

Dec 22
Subdued Growth No Barrier To CTS Eventim AG & Co. KGaA's (ETR:EVD) Price
SPG
€18.88
Springer Nature KGaA
7D
3.1%
1Y
-30.0%
1U1
€24.25
1&1
7D
2.8%
1Y
111.6%
PSM
€4.86
ProSiebenSat.1 Media
7D
-0.6%
1Y
-3.0%

PSM: Future Upside Will Stem From New Leadership Driving Margin Recovery

Analysts have modestly reduced their average price target for ProSiebenSat.1 Media. This reflects slightly softer margin and growth expectations alongside a higher assumed cost of capital, even as they maintain a generally constructive stance on the shares.
UTDI
€27.00
United Internet
7D
2.7%
1Y
78.2%
G24
€85.90
Scout24
7D
-0.8%
1Y
0.2%

Returns Are Gaining Momentum At Scout24 (ETR:G24)

Dec 17
Returns Are Gaining Momentum At Scout24 (ETR:G24)
RRTL
€33.85
RTL Group
7D
0.4%
1Y
28.0%

RRTL: Leadership Transition And Digital Execution Will Shape Balanced Risk Reward Outlook

Analysts have slightly reduced their price target for RTL Group, trimming fair value from about EUR 35.50 to roughly EUR 34.83 as they factor in softer revenue growth and margin expectations, partly offset by higher anticipated future valuation multiples. Analyst Commentary Recent commentary reflects a generally cautious but balanced stance on RTL Group, with modest adjustments to valuation rather than any wholesale change in fundamental views.
NFN
€3.56
NFON
7D
-2.2%
1Y
-30.9%

NFN: AI Project Momentum Will Support Profits Despite Softer Cloud Telephony

Analysts have trimmed their price target on NFON from €9.90 to €8.03, citing slightly softer expectations for revenue growth, slimmer profit margins and a lower future P E multiple. What's in the News Management Board lowers 2025 Group revenue growth guidance to 1.0% to 2.5%, down from 3% to 5%, after weaker than expected third quarter revenue in core cloud telephony, despite solid AI driven project business momentum (company guidance).
FNTN
€29.28
freenet
7D
-0.07%
1Y
7.2%

FNTN: Future Share Performance Will Benefit From Stable Cash Generation

Analysts have trimmed their price target on freenet slightly, to EUR 38 from EUR 39, reflecting modestly higher revenue growth expectations but slightly lower profit margin forecasts and a small downward revision in estimated fair value. Analyst Commentary Analysts see the slight reduction in the price target as a fine tuning of their valuation model rather than a fundamental shift in their view of freenet's long term prospects, balancing improved top line expectations with more cautious assumptions on profitability.
BVB
€3.25
Borussia Dortmund GmbH Kommanditgesellschaft auf Aktien
7D
-0.6%
1Y
2.7%
WBAH
€36.20
Wild Bunch
7D
4.0%
1Y
16.0%

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

Dec 09
Wild Bunch AG's (FRA:WBAH) Business Is Trailing The Industry But Its Shares Aren't
TC1
€0.75
Tele Columbus
7D
-2.6%
1Y
134.4%

Tele Columbus AG (HMSE:TC1) Looks Just Right With A 50% Price Jump

Nov 28
Tele Columbus AG (HMSE:TC1) Looks Just Right With A 50% Price Jump
APM
€2.68
ad pepper media International
7D
-2.2%
1Y
34.7%

The Strong Earnings Posted By ad pepper media International (ETR:APM) Are A Good Indication Of The Strength Of The Business

Nov 26
The Strong Earnings Posted By ad pepper media International (ETR:APM) Are A Good Indication Of The Strength Of The Business
HLG
€1.29
Highlight Communications
7D
-1.5%
1Y
16.2%
DTE
€27.48
Deutsche Telekom
7D
0.5%
1Y
-4.7%

We Think That There Are Issues Underlying Deutsche Telekom's (ETR:DTE) Earnings

Nov 20
We Think That There Are Issues Underlying Deutsche Telekom's (ETR:DTE) Earnings
O2D
€2.04
Telefónica Deutschland Holding
7D
6.8%
1Y
-2.5%