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German (DAX) Telecom Sector Analysis

UpdatedJul 14, 2026
DataAggregated Company Financials
Companies46
  • 7D3.5%
  • 3M-6.2%
  • 1Y-14.0%
  • YTD-5.8%

Over the last 7 days, the Telecom industry has risen 3.5%, driven by gains from Deutsche Telekom of 5.1%. In contrast, the industry has lost 14% in the last 12 months. 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, 15 Jul 2026€188.0b€163.9b€10.9b16.6x17.2x1.1x
Fri, 12 Jun 2026€192.8b€163.8b€10.9b24.1x17.6x1.2x
Sun, 10 May 2026€193.6b€163.8b€11.4b21.6x16.9x1.2x
Tue, 07 Apr 2026€209.5b€164.3b€11.4b19.5x18.4x1.3x
Thu, 05 Mar 2026€222.6b€164.5b€11.4b22x19.5x1.4x
Sat, 31 Jan 2026€198.9b€163.9b€14.0b23.6x14.2x1.2x
Mon, 29 Dec 2025€195.7b€163.1b€13.7b22.8x14.3x1.2x
Wed, 26 Nov 2025€195.8b€162.7b€14.0b25x14x1.2x
Fri, 24 Oct 2025€206.9b€162.2b€14.4b25.2x14.4x1.3x
Sun, 21 Sep 2025€206.1b€162.2b€14.4b24.1x14.3x1.3x
Tue, 19 Aug 2025€673.0b€163.5b€14.6b23.4x46.1x4.1x
Thu, 17 Jul 2025€219.1b€162.7b€13.8b22.6x15.9x1.3x
Sat, 14 Jun 2025€221.6b€162.7b€13.8b26.1x16.1x1.4x
Mon, 12 May 2025€228.9b€160.7b€13.1b25.6x17.5x1.4x
Wed, 09 Apr 2025€222.4b€160.6b€13.1b20.7x17x1.4x
Fri, 07 Mar 2025€227.3b€158.8b€13.0b22.7x17.5x1.4x
Sun, 02 Feb 2025€220.1b€157.3b€7.7b27.6x28.5x1.4x
Tue, 31 Dec 2024€200.2b€157.3b€7.7b23.7x25.9x1.3x
Thu, 28 Nov 2024€210.6b€157.2b€7.8b23.5x27.1x1.3x
Sat, 26 Oct 2024€205.0b€156.7b€6.7b27.9x30.7x1.3x
Mon, 23 Sep 2024€189.2b€157.8b€7.1b26.3x26.5x1.2x
Wed, 21 Aug 2024€182.7b€157.6b€7.1b24.9x25.7x1.2x
Fri, 19 Jul 2024€180.2b€156.2b€6.6b23.7x27.3x1.2x
Sun, 16 Jun 2024€171.4b€156.2b€6.6b24.6x26x1.1x
Tue, 14 May 2024€170.0b€156.0b€6.2b23.9x27.3x1.1x
Thu, 11 Apr 2024€173.1b€155.9b€6.3b25.5x27.5x1.1x
Sat, 09 Mar 2024€168.7b€156.4b€6.6b26.2x25.7x1.1x
Mon, 05 Feb 2024€213.8b€158.9b€9.1b26.2x23.5x1.3x
Wed, 03 Jan 2024€209.8b€159.0b€9.1b27.4x23.1x1.3x
Fri, 01 Dec 2023€208.5b€159.0b€9.1b25.4x23x1.3x
Sun, 29 Oct 2023€195.1b€160.2b€8.5b24.2x23x1.2x
Tue, 26 Sep 2023€195.0b€160.5b€8.4b22.2x23.3x1.2x
Thu, 24 Aug 2023€189.9b€160.5b€8.4b22.5x22.6x1.2x
Sat, 22 Jul 2023€194.4b€160.9b€8.6b22.8x22.7x1.2x
Price to Earnings Ratio

22.7x


Total Market Cap: €194.4bTotal Earnings: €8.6bTotal Revenue: €160.9bTotal Market Cap vs Earnings and Revenue0%0%0%
German Telecom Sector Price to Earnings3Y Average 22.5x202420252026
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 17.2x which is lower than its 3-year average PE of 22.5x.
  • 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-2.30%
Telecom3.54%
Telecom Services and Carriers4.23%
Wireless Telecom4.00%
Interactive Media and Services0.34%
Media-1.19%
Entertainment-1.74%
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 22.1x.
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 6.4% 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€26.593.3%
+€4.1b		-12.0%PE14.5x
1U1 1&1€20.553.3%
+€114.7m		11.1%PE26.6x
UTDI United Internet€24.202.5%
+€103.7m		-3.7%PE14.8x
FNTN freenet€23.900.7%
+€18.7m		-12.1%PE10.8x
SAX Ströer SE KGaA€35.100.7%
+€14.5m		-26.3%PE15.8x

Latest News

CAP
€1.05
SCP Standard Capital Partners
7D
14.1%
1Y
-8.7%
FNTN
€23.90
freenet
7D
0.7%
1Y
-12.1%
Narrative Update • Jul 10

FNTN: Rebased Earnings Multiple Will Support Higher Neutral-To-Buy Re-Rating

The analyst price target for freenet has been revised from €37.60 to €33.00. This change reflects updated assumptions on discount rates and earnings multiples as analysts respond to a series of neutral ratings and modest price target cuts across the Street.
SPG
€18.00
Springer Nature KGaA
7D
-1.3%
1Y
-6.2%
Narrative Update • Jul 10

SPG: Street Research Range Will Shape Future Market Expectations

Springer Nature KGaA's analyst price target has been updated from €22.00 to €20.00, while some analysts highlight a higher Street target of €26.90 and point to supporting research as a key factor in their revised views. What's in the News The analyst price target for Springer Nature KGaA has been adjusted to €20.00, with some analysts also referencing a higher Street target of €26.90 based on their research.
HLG
€0.50
Highlight Communications
7D
-19.4%
1Y
-45.9%
PSM
€3.48
ProSiebenSat.1 Media
7D
-0.9%
1Y
-51.7%
Narrative Update • Jul 09

PSM: Index Exit Will Support Future Upside For Repriced Shares

Analysts have adjusted their fair value estimate for ProSiebenSat.1 Media from €8.15 to €6.50, reflecting updated assumptions for the discount rate, revenue growth, profit margins and future P/E expectations. What's in the News for ProSiebenSat.1 Media ProSiebenSat.1 Media SE has been removed from the Germany SDAX (Total Return) Index, according to recent index constituent changes.
EVD
€55.85
CTS Eventim KGaA
7D
-1.8%
1Y
-47.0%
Narrative Update • Jul 09

EVD: Live Demand And Ticketing Risks Will Shape Earnings Trajectory

The updated analyst price targets for CTS Eventim KGaA point to a lower implied fair value of about €59.51. This reflects analysts' revised assumptions for slightly softer revenue growth, profit margins, and future P/E expectations, even as they cite solid live entertainment fundamentals and adjust forecasts for venue ownership trends and EBITDA outlooks.
G24
€72.75
Scout24
7D
-1.1%
1Y
-38.9%
Narrative Update • Jul 08

G24: Higher Margins And Dividend Policy Will Support Further Rerating

The analyst price target for Scout24 has been raised to €136.89 from €130.32, reflecting a series of upward revisions across the Street. Analysts cite supportive views on the classifieds sector, new Buy initiations and higher targets ranging from €86 to €140.
DTE
€26.59
Deutsche Telekom
7D
3.3%
1Y
-12.0%
SB1
€8.74
Smartbroker Holding
7D
1.6%
1Y
-27.2%
1U1
€20.55
1&1
7D
3.3%
1Y
11.1%
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.
UTDI
€24.20
United Internet
7D
2.5%
1Y
-3.7%
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
€0.50
Tele Columbus
7D
-9.9%
1Y
23.8%
RRTL
€31.10
RTL Group
7D
-2.5%
1Y
-8.8%
Narrative Update • Jun 18

RRTL: Fair Outlook Will Balance Underweight Stance And Stable Long-Term Assumptions

Analysts have trimmed their price target on RTL Group shares to €30 from €34, citing updated views reflected in a slightly adjusted discount rate and future P/E assumptions, while leaving the fair value estimate broadly unchanged. Analyst Commentary Recent moves around RTL Group highlight a more cautious stance from some on the Street, with the latest adjustment bringing the price target to €30 while the overall fair value view remains broadly stable.
SAX
€35.10
Ströer SE KGaA
7D
0.7%
1Y
-26.3%
APM
€2.66
ad pepper media International
7D
2.3%
1Y
-8.3%
O2D
€1.92
Telefónica Deutschland Holding
7D
-5.0%
1Y
-12.8%