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German (DAX) Telecom Sector Analysis

UpdatedFeb 14, 2026
DataAggregated Company Financials
Companies45
  • 7D3.8%
  • 3M12.0%
  • 1Y-4.3%
  • YTD9.2%

The Telecom industry is up 3.8% in the last week, with Deutsche Telekom up 6.5%. In the same time, Scout24 was down 7.7%. In the past year, the industry is down 4.3%. Looking forward, earnings are forecast to grow by 5.0% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 14 Feb 2026€216.0b€164.0b€14.0b21.2x15.4x1.3x
Mon, 12 Jan 2026€201.9b€163.1b€13.7b22.7x14.8x1.2x
Wed, 10 Dec 2025€192.3b€163.1b€13.7b22.8x14.1x1.2x
Fri, 07 Nov 2025€190.1b€162.3b€14.4b24.9x13.2x1.2x
Sun, 05 Oct 2025€205.8b€162.2b€14.4b23.8x14.3x1.3x
Tue, 02 Sep 2025€672.4b€163.1b€14.6b24.2x46.1x4.1x
Thu, 31 Jul 2025€657.4b€163.6b€14.0b19.5x46.9x4x
Sat, 28 Jun 2025€223.9b€162.7b€13.8b25.8x16.2x1.4x
Mon, 26 May 2025€237.4b€162.7b€13.8b25.4x17.2x1.5x
Wed, 23 Apr 2025€226.3b€160.6b€13.1b21.9x17.3x1.4x
Fri, 21 Mar 2025€232.5b€160.7b€13.2b23.3x17.6x1.4x
Sun, 16 Feb 2025€226.7b€157.3b€7.7b29.9x29.4x1.4x
Tue, 14 Jan 2025€205.8b€157.3b€7.7b25.9x26.6x1.3x
Thu, 12 Dec 2024€205.6b€157.3b€7.7b24.4x26.6x1.3x
Sat, 09 Nov 2024€205.7b€156.8b€6.7b25.6x30.8x1.3x
Mon, 07 Oct 2024€195.8b€156.7b€6.7b26.1x29.4x1.2x
Wed, 04 Sep 2024€187.8b€157.8b€7.1b25.9x26.3x1.2x
Fri, 02 Aug 2024€178.0b€156.2b€6.6b22.1x27x1.1x
Sun, 30 Jun 2024€175.6b€156.2b€6.6b23.9x26.6x1.1x
Tue, 28 May 2024€168.6b€156.2b€6.6b24.4x25.4x1.1x
Thu, 25 Apr 2024€169.4b€155.9b€6.3b26.4x27x1.1x
Sat, 23 Mar 2024€167.3b€155.6b€6.3b26.1x26.5x1.1x
Mon, 19 Feb 2024€169.5b€156.6b€8.3b25.6x20.4x1.1x
Wed, 17 Jan 2024€213.4b€158.9b€9.1b26.3x23.5x1.3x
Fri, 15 Dec 2023€207.3b€159.0b€9.1b25.4x22.8x1.3x
Sun, 12 Nov 2023€204.9b€160.4b€8.5b27x24.2x1.3x
Tue, 10 Oct 2023€195.8b€160.2b€8.5b24.3x23x1.2x
Thu, 07 Sep 2023€193.7b€160.5b€8.4b22.6x23.2x1.2x
Sat, 05 Aug 2023€188.6b€160.8b€8.5b21.9x22.1x1.2x
Mon, 03 Jul 2023€195.6b€160.4b€8.5b25.4x22.9x1.2x
Wed, 31 May 2023€200.3b€160.7b€8.5b23.1x23.6x1.2x
Fri, 28 Apr 2023€178.3b€158.2b€10.0b19.6x17.8x1.1x
Sun, 26 Mar 2023€174.4b€158.2b€10.1b20.3x17.2x1.1x
Tue, 21 Feb 2023€172.8b€157.5b€9.8b21.8x17.6x1.1x
Price to Earnings Ratio

17.6x


Total Market Cap: €172.8bTotal Earnings: €9.8bTotal Revenue: €157.5bTotal Market Cap vs Earnings and Revenue0%0%0%
German Telecom Sector Price to Earnings3Y Average 22.8x202420252026
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 15.4x which is lower than its 3-year average PE of 22.8x.
  • The industry is trading close to its 3-year average PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have grown 13% 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 Market0.26%
Telecom3.81%
Telecom Services and Carriers5.21%
Media-1.57%
Entertainment-3.18%
Wireless Telecom-3.31%
Interactive Media and Services-7.77%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 36.3x.
    • Analysts are expecting annual earnings growth of 5.3%, which is higher than its past year's earnings decline of 11.7% per year.
  • Investors are most pessimistic about the Telecom Services and Carriers industry, which is trading below its 3-year average of 22.4x.
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 4.4% 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
DTE Deutsche Telekom€32.236.5%
+€9.4b		-4.1%PE12.7x
O2D Telefónica Deutschland Holding€2.114.2%
+€252.8m		1.7%PE18.6x
FNTN freenet€33.123.3%
+€124.8m		11.9%PE14.9x
SAX Ströer SE KGaA€34.454.6%
+€83.8m		-39.7%PE15.5x
LOU DEAG Deutsche Entertainment€3.303.8%
+€2.6m		-23.3%PS0.2x

Latest News

SAX
€34.45
Ströer SE KGaA
7D
4.6%
1Y
-39.7%

Are Investors Undervaluing Ströer SE & Co. KGaA (ETR:SAX) By 43%?

Feb 13
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FNTN
€33.12
freenet
7D
3.3%
1Y
11.9%

AI First Telco Investments And ARPU Pressure Will Limit Long Term Upside

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EVD
€66.65
CTS Eventim KGaA
7D
-3.4%
1Y
-32.9%

EVD: Incoming CFO And Ticketing Model Will Support Future Earnings Potential

Analysts have trimmed their price target on CTS Eventim KGaA by €0.42 to €104.50, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples after recent Street research, including a €5 target cut cited by JPMorgan. Analyst Commentary Street research around CTS Eventim KGaA, including the recent €5 price target cut cited by JPMorgan, highlights a mix of optimism on the underlying business model and caution on how much investors are currently paying for that exposure.
1U1
€24.45
1&1
7D
-8.6%
1Y
110.8%

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Feb 10
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G24
€68.35
Scout24
7D
-7.7%
1Y
-27.5%

G24: Buybacks And 2026 Execution Will Support A Re Rating

Analysts have raised their price views on Scout24, with recent upgrades and refreshed 2026 outlooks supporting a revised target range of about €103 to €114, citing updated assumptions for growth, margins and the price-to-earnings ratio. Analyst Commentary Recent research points to a more constructive tone on Scout24, with several bullish analysts shifting to more positive ratings and setting price targets that cluster in the low to mid €100s.
UTDI
€25.86
United Internet
7D
-6.6%
1Y
70.7%

UTDI: Lower Expectations Will Set Up Future Upside From Improved Profitability

Narrative Update on United Internet The updated analyst price target for United Internet has moved lower by €4.20 to €37.80. Analysts point to reduced revenue growth assumptions, a higher discount rate, lower valuation multiples for Ionos and recent target cuts from the Street as key drivers of the change.
RRTL
€36.00
RTL Group
7D
-2.6%
1Y
15.0%

RRTL: Leadership Transition And Refined Assumptions Will Shape A Balanced Outlook

Analysts have nudged their fair value estimate for RTL Group to €35.14 per share, up from €34.43, reflecting slightly adjusted assumptions on the discount rate, long term revenue growth, profit margins and future P/E multiples. What's in the News RTL Group's Board of Directors has appointed Clément Schwebig to succeed Thomas Rabe as CEO, with the handover planned for May 2026, signaling a planned leadership transition at the top of the Group.
SPG
€15.90
Springer Nature KGaA
7D
-3.8%
1Y
-38.4%

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Feb 03
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NFN
€3.92
NFON
7D
0.5%
1Y
-44.4%

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The NFON analyst price target has been revised down to €4.00 from €5.50, with analysts citing updated assumptions for revenue growth, profit margins, discount rate and future P/E as the key drivers of this change. What's in the News NFON's Management Board revised earnings guidance for the 2025 financial year after reviewing preliminary results for the first nine months, reflecting updated expectations for the business.
DTE
€32.23
Deutsche Telekom
7D
6.5%
1Y
-4.1%

DTE: AI Partnerships And Buybacks Will Support Future Equity Repricing

Analysts have trimmed their fair value estimate for Deutsche Telekom from €37.25 to about €36.89. This reflects updated assumptions that pair slightly higher revenue expectations with a lower profit margin outlook and a higher future P/E, consistent with recent price target cuts such as the EUR 1.50 reduction at Barclays and the move to €38 from €40 at Morgan Stanley.
VTWR
€37.80
Vantage Towers
7D
-0.5%
1Y
1.1%

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Jan 21
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LOU
€3.30
DEAG Deutsche Entertainment
7D
3.8%
1Y
-23.3%

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Jan 19
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WBAH
€20.20
Wild Bunch
7D
-19.2%
1Y
-24.1%

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Dec 09
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O2D
€2.11
Telefónica Deutschland Holding
7D
4.2%
1Y
1.7%
LP2
€2.82
Innodio
7D
8.5%
1Y
154.1%
SD1
€0.0055
Clean Logistics
7D
120.0%
1Y
37.5%