Narrative Update • Jun 13
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German (DAX) Telecom Sector Analysis
UpdatedJun 16, 2026
DataAggregated Company Financials
Companies45
- 7D0.5%
- 3M-12.8%
- 1Y-11.7%
- YTD-2.3%
Over the last 7 days, the Telecom industry has remained flat, although notably 1&1 declined by 5.2%. As for the longer term, the industry has declined 12% 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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 16 Jun 2026 | €195.0b | €163.8b | €10.9b | 17.1x | 17.8x | 1.2x |
| Thu, 14 May 2026 | €196.1b | €164.0b | €11.4b | 20.9x | 17.2x | 1.2x |
| Sat, 11 Apr 2026 | €211.2b | €164.3b | €11.4b | 19.8x | 18.6x | 1.3x |
| Mon, 09 Mar 2026 | €222.1b | €164.5b | €11.4b | 22.6x | 19.4x | 1.4x |
| Wed, 04 Feb 2026 | €201.8b | €164.0b | €14.0b | 22.8x | 14.4x | 1.2x |
| Fri, 02 Jan 2026 | €197.0b | €163.1b | €13.7b | 22.6x | 14.4x | 1.2x |
| Sun, 30 Nov 2025 | €197.6b | €163.1b | €13.7b | 25.8x | 14.5x | 1.2x |
| Tue, 28 Oct 2025 | €205.0b | €162.2b | €14.4b | 24.9x | 14.3x | 1.3x |
| Thu, 25 Sep 2025 | €203.3b | €162.2b | €14.4b | 23.6x | 14.1x | 1.3x |
| Sat, 23 Aug 2025 | €669.6b | €163.5b | €14.6b | 24x | 46x | 4.1x |
| Mon, 21 Jul 2025 | €220.0b | €162.7b | €13.8b | 22.9x | 15.9x | 1.4x |
| Wed, 18 Jun 2025 | €220.4b | €162.7b | €13.8b | 26.2x | 16x | 1.4x |
| Fri, 16 May 2025 | €231.1b | €160.8b | €13.0b | 29.8x | 17.8x | 1.4x |
| Sun, 13 Apr 2025 | €216.8b | €160.6b | €13.1b | 20.9x | 16.6x | 1.3x |
| Tue, 11 Mar 2025 | €233.7b | €158.8b | €13.1b | 22.6x | 17.8x | 1.5x |
| Thu, 06 Feb 2025 | €220.2b | €157.3b | €7.7b | 27.2x | 28.5x | 1.4x |
| Sat, 04 Jan 2025 | €202.4b | €157.3b | €7.7b | 24x | 26.2x | 1.3x |
| Mon, 02 Dec 2024 | €212.3b | €157.3b | €7.7b | 24.8x | 27.5x | 1.4x |
| Wed, 30 Oct 2024 | €206.5b | €156.7b | €6.7b | 28.1x | 31x | 1.3x |
| Fri, 27 Sep 2024 | €191.6b | €157.8b | €7.1b | 26.4x | 26.8x | 1.2x |
| Sun, 25 Aug 2024 | €183.9b | €157.7b | €7.1b | 25.3x | 25.8x | 1.2x |
| Tue, 23 Jul 2024 | €180.5b | €156.2b | €6.6b | 23.6x | 27.4x | 1.2x |
| Thu, 20 Jun 2024 | €172.7b | €156.2b | €6.6b | 23.5x | 26.2x | 1.1x |
| Sat, 18 May 2024 | €170.0b | €156.0b | €6.3b | 23.8x | 27x | 1.1x |
| Mon, 15 Apr 2024 | €165.5b | €155.9b | €6.3b | 25.5x | 26.3x | 1.1x |
| Wed, 13 Mar 2024 | €167.6b | €156.4b | €6.5b | 26.3x | 26x | 1.1x |
| Fri, 09 Feb 2024 | €170.4b | €156.6b | €8.4b | 20.8x | 20.4x | 1.1x |
| Sun, 07 Jan 2024 | €211.7b | €158.9b | €9.1b | 27.7x | 23.3x | 1.3x |
| Tue, 05 Dec 2023 | €210.2b | €159.0b | €9.1b | 25.9x | 23.1x | 1.3x |
| Thu, 02 Nov 2023 | €196.1b | €160.2b | €8.5b | 24.7x | 23.1x | 1.2x |
| Sat, 30 Sep 2023 | €193.4b | €160.5b | €8.4b | 24.2x | 23.1x | 1.2x |
| Mon, 28 Aug 2023 | €189.3b | €160.6b | €8.4b | 22.4x | 22.6x | 1.2x |
| Wed, 26 Jul 2023 | €195.1b | €161.0b | €8.6b | 22.8x | 22.7x | 1.2x |
| Fri, 23 Jun 2023 | €192.4b | €160.7b | €8.6b | 22.8x | 22.5x | 1.2x |
Price to Earnings Ratio
22.5x
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 17.8x 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 8.5% 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 | 0.72% | |
| Telecom | 0.47% | |
| Entertainment | 2.66% | |
| Interactive Media and Services | 2.13% | |
| Telecom Services and Carriers | 0.52% | |
| Media | -0.058% | |
| Wireless Telecom | -2.66% | |
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 29.8%, which is lower than the prior year's growth of 35.5% 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 30% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- 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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| EVD CTS Eventim KGaA | €54.70 | 7.5% +€364.8m | -46.4% | PE17.8x | |
| G24 Scout24 | €77.05 | 2.6% +€136.9m | -34.0% | PE20.9x | |
| PSM ProSiebenSat.1 Media | €3.76 | 2.2% +€19.1m | -46.6% | PS0.2x | |
| FNTN freenet | €25.46 | 0.4% +€11.7m | -5.8% | PE11.5x | |
| SAX Ströer SE KGaA | €34.82 | 0.2% +€3.4m | -29.9% | PE15.6x |