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German (DAX) Telecom Sector Analysis

UpdatedJun 09, 2026
DataAggregated Company Financials
Companies45
  • 7D-3.4%
  • 3M-12.2%
  • 1Y-16.8%
  • YTD-2.7%

Over the last 7 days, the Telecom industry has dropped 3.4%, driven by Deutsche Telekom declining 3.9%. The industry has fallen 17% in the last year. As for the next few years, earnings are expected to grow by 12% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 09 Jun 2026€193.8b€163.8b€10.9b24.8x17.7x1.2x
Thu, 07 May 2026€196.0b€163.8b€11.4b21.7x17.1x1.2x
Sat, 04 Apr 2026€209.5b€164.4b€11.4b19.5x18.4x1.3x
Mon, 02 Mar 2026€228.3b€164.5b€11.4b23x20x1.4x
Wed, 28 Jan 2026€194.3b€163.9b€14.0b23.7x13.8x1.2x
Fri, 26 Dec 2025€195.7b€163.1b€13.7b22.8x14.3x1.2x
Sun, 23 Nov 2025€195.3b€162.7b€14.0b24.6x14x1.2x
Tue, 21 Oct 2025€210.2b€162.2b€14.4b26.2x14.6x1.3x
Thu, 18 Sep 2025€207.2b€162.2b€14.4b24.2x14.4x1.3x
Sat, 16 Aug 2025€673.9b€163.5b€14.6b22.6x46.2x4.1x
Mon, 14 Jul 2025€220.9b€162.7b€13.8b25x16x1.4x
Wed, 11 Jun 2025€232.8b€162.7b€13.8b26.1x16.9x1.4x
Fri, 09 May 2025€226.2b€160.6b€13.1b24.1x17.3x1.4x
Sun, 06 Apr 2025€225.0b€160.6b€13.1b21.1x17.2x1.4x
Tue, 04 Mar 2025€240.5b€158.9b€12.9b24.9x18.6x1.5x
Thu, 30 Jan 2025€219.0b€157.3b€7.7b27.9x28.3x1.4x
Sat, 28 Dec 2024€200.6b€157.3b€7.7b23.7x26x1.3x
Mon, 25 Nov 2024€208.4b€157.7b€7.6b22.7x27.6x1.3x
Wed, 23 Oct 2024€202.8b€156.7b€6.7b27.4x30.4x1.3x
Fri, 20 Sep 2024€189.2b€157.8b€7.1b26.4x26.5x1.2x
Sun, 18 Aug 2024€182.6b€157.6b€7.1b25x25.7x1.2x
Tue, 16 Jul 2024€177.8b€156.1b€6.6b23.5x26.9x1.1x
Thu, 13 Jun 2024€172.2b€156.2b€6.6b24.7x26.1x1.1x
Sat, 11 May 2024€169.4b€156.0b€6.2b23.9x27.2x1.1x
Mon, 08 Apr 2024€169.9b€155.9b€6.3b26.1x27x1.1x
Wed, 06 Mar 2024€170.1b€156.4b€6.5b26.3x26x1.1x
Fri, 02 Feb 2024€214.2b€158.9b€9.1b26.2x23.6x1.3x
Sun, 31 Dec 2023€208.5b€159.0b€9.1b27.7x23x1.3x
Tue, 28 Nov 2023€208.3b€159.0b€9.1b25.4x23x1.3x
Thu, 26 Oct 2023€195.5b€160.2b€8.5b23.5x23x1.2x
Sat, 23 Sep 2023€197.1b€160.5b€8.4b22.3x23.6x1.2x
Mon, 21 Aug 2023€188.6b€160.5b€8.4b23x22.4x1.2x
Wed, 19 Jul 2023€193.1b€160.9b€8.6b25.4x22.5x1.2x
Fri, 16 Jun 2023€193.0b€160.7b€8.5b23x22.8x1.2x
Price to Earnings Ratio

22.8x


Total Market Cap: €193.0bTotal Earnings: €8.5bTotal Revenue: €160.7bTotal Market Cap vs Earnings and Revenue0%0%0%
German Telecom Sector Price to Earnings3Y Average 22.7x202420252026
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 17.7x which is lower than its 3-year average PE of 22.7x.
  • The 3-year average PS ratio of 1.4x 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 8.9% 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-1.76%
Telecom-3.41%
Wireless Telecom4.54%
Interactive Media and Services0.56%
Media-2.60%
Telecom Services and Carriers-3.51%
Entertainment-14.43%
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 30.0%, 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 22.3x.
Forecasted Growth
  • Analysts are most optimistic on the Media industry, expecting annual earnings growth of 30% 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 6.2% 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
RRTL RTL Group€32.404.0%
+€189.1m		-1.2%PE213.1x
1U1 1&1€23.951.5%
+€61.8m		30.2%PE31x
TC1 Tele Columbus€0.5510.0%
+€29.3m		57.1%PS0.7x
FNTN freenet€25.360.7%
+€21.0m		-10.1%PE11.4x
PAL PAL Next€1.2323.6%
+€8.0m		5.1%PS1.8x

Latest News

PAL
€1.23
PAL Next
7D
23.6%
1Y
5.1%
EVD
€50.90
CTS Eventim KGaA
7D
-11.9%
1Y
-52.1%
PSM
€3.68
ProSiebenSat.1 Media
7D
-4.2%
1Y
-47.5%
Narrative Update • Jun 07

PSM: Future Upside Will Rely On Delivering Higher Margin Assumptions

Analysts have trimmed their price target on ProSiebenSat.1 Media from about €5.53 to around €5.30, citing updated assumptions on discount rate, revenue growth, profit margin and future P/E as the key drivers of the change. What's in the News No recent company specific news items were provided in the sources listed above.
FNTN
€25.36
freenet
7D
0.7%
1Y
-10.1%
Narrative Update • Jun 05

FNTN: Future Returns Will Rely On Dividend Payouts And Execution Versus Softer Street Assumptions

Analysts have trimmed their price targets on freenet, cutting the average fair value estimate by about €0.16 to €28.92. They cited slightly softer assumptions for revenue growth and profit margins, along with a higher discount rate, despite a modestly higher future P/E multiple.
UTDI
€26.48
United Internet
7D
-3.4%
1Y
8.6%
Narrative Update • Jun 04

UTDI: Future Returns Will Reflect Confirmed 2026 Earnings And Stable Dividend Plans

Analysts have slightly increased their fair value estimate for United Internet to €31.02 from €30.44, with the higher €34 price target from recent research reflecting updated assumptions on discount rates, revenue growth, margins, and future P/E. What's in the News Company confirms 2026 consolidated earnings guidance, expecting consolidated sales of approximately €6.25b compared with €6.104b in 2025.
RRTL
€32.40
RTL Group
7D
4.0%
1Y
-1.2%
Narrative Update • Jun 03

RRTL: Fair Outlook Will Reflect Higher Dividend And Cautious Profitability Assumptions

Analysts have trimmed their fair value estimate for RTL Group from €36 to €34.50, citing lowered Street price targets and more cautious assumptions for growth, profit margins, the discount rate and future P/E. Analyst Commentary Recent Street research, including the latest price target cut to €30 from €34 by JPMorgan, reinforces a more cautious stance around RTL Group's valuation and execution risks.
G24
€75.10
Scout24
7D
-1.0%
1Y
-36.6%
Narrative Update • Jun 02

G24: Higher 2026 Margins And Dividend Payout Will Support Further Rerating

Analysts have lifted Scout24's fair value estimate by about €2, reflecting slightly higher assumptions for revenue growth, profit margins and the future P/E multiple that underpin recently raised price targets from several banks. Analyst Commentary Recent Street research points to a cluster of higher price targets for Scout24, with bullish analysts lifting their fair value ranges and large banks reaffirming positive ratings.
1U1
€23.95
1&1
7D
1.5%
1Y
30.2%
Narrative Update • May 29

1U1: Future Returns Will Balance Firmer Margins With A Softer Outlook

Analysts have kept their €23.08 price target for 1&1 unchanged, citing slightly higher projected profit margins and a modestly higher discount rate that broadly offset a softer revenue growth outlook and a marginally lower future P/E assumption. Valuation Changes Fair Value: The €23.08 price estimate is unchanged, indicating no revision to the overall valuation outcome.
TC1
€0.55
Tele Columbus
7D
14.6%
1Y
64.7%
SAX
€34.76
Ströer SE KGaA
7D
-7.1%
1Y
-33.4%
SPG
€18.90
Springer Nature KGaA
7D
-2.7%
1Y
-9.8%
DTE
€27.74
Deutsche Telekom
7D
-3.9%
1Y
-15.5%
EDL
€4.88
Edel SE KGaA
7D
1.7%
1Y
20.2%
NAO
€4.40
naoo
7D
8.6%
1Y
-47.3%
O2D
€2.08
Telefónica Deutschland Holding
7D
1.5%
1Y
-7.5%
SB1
€11.25
Smartbroker Holding
7D
-8.2%
1Y
-10.7%