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German (DAX) Telecom Sector Analysis

UpdatedJul 08, 2026
DataAggregated Company Financials
Companies46
  • 7D5.6%
  • 3M-14.0%
  • 1Y-17.1%
  • YTD-8.2%

In the last week, the Telecom industry is up 1.9%, with Deutsche Telekom up 8.3%. During this same period, the Springer Nature KGaA underperformed, falling 5.8%. In the past year, the industry is down 18%. 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
Wed, 08 Jul 2026€183.7b€163.9b€10.9b18.1x16.8x1.1x
Fri, 05 Jun 2026€194.7b€163.8b€10.9b24.5x17.8x1.2x
Sun, 03 May 2026€195.1b€164.3b€11.4b22.1x17.1x1.2x
Tue, 31 Mar 2026€215.9b€164.3b€11.4b19.2x19x1.3x
Thu, 26 Feb 2026€221.5b€164.0b€14.0b21.4x15.8x1.4x
Sat, 24 Jan 2026€194.2b€163.9b€14.0b23.6x13.8x1.2x
Mon, 22 Dec 2025€195.1b€163.1b€13.7b21.8x14.3x1.2x
Wed, 19 Nov 2025€190.5b€162.6b€14.0b20.2x13.6x1.2x
Fri, 17 Oct 2025€207.6b€162.2b€14.4b23.2x14.4x1.3x
Sun, 14 Sep 2025€211.8b€162.2b€14.4b24.5x14.7x1.3x
Tue, 12 Aug 2025€663.4b€163.4b€14.5b22.6x45.7x4.1x
Thu, 10 Jul 2025€224.6b€162.7b€13.8b22.7x16.3x1.4x
Sat, 07 Jun 2025€237.8b€162.7b€13.8b25.7x17.2x1.5x
Mon, 05 May 2025€225.2b€160.6b€13.1b23.2x17.3x1.4x
Wed, 02 Apr 2025€237.4b€160.7b€13.1b23x18.1x1.5x
Fri, 28 Feb 2025€232.2b€162.7b€12.9b28.5x18x1.4x
Sun, 26 Jan 2025€204.5b€157.3b€7.7b27.4x26.4x1.3x
Tue, 24 Dec 2024€199.6b€157.3b€7.7b23.6x25.8x1.3x
Thu, 21 Nov 2024€205.6b€157.6b€7.6b23x27x1.3x
Sat, 19 Oct 2024€206.7b€156.7b€6.7b28.1x31x1.3x
Mon, 16 Sep 2024€192.4b€157.8b€7.1b26.5x26.9x1.2x
Wed, 14 Aug 2024€180.3b€157.6b€7.1b24.1x25.3x1.1x
Fri, 12 Jul 2024€177.5b€156.1b€6.6b23.6x26.9x1.1x
Sun, 09 Jun 2024€172.9b€156.2b€6.6b25.1x26.2x1.1x
Tue, 07 May 2024€168.2b€155.9b€6.3b20x26.8x1.1x
Thu, 04 Apr 2024€171.3b€155.9b€6.3b26.3x27.3x1.1x
Sat, 02 Mar 2024€168.8b€156.1b€6.4b27.5x26.5x1.1x
Mon, 29 Jan 2024€215.9b€158.9b€9.1b27.8x23.8x1.4x
Wed, 27 Dec 2023€208.3b€159.0b€9.1b26.6x22.9x1.3x
Fri, 24 Nov 2023€207.2b€159.0b€9.1b25.4x22.9x1.3x
Sun, 22 Oct 2023€194.7b€160.2b€8.5b22.8x22.9x1.2x
Tue, 19 Sep 2023€197.1b€160.5b€8.4b22.3x23.6x1.2x
Thu, 17 Aug 2023€189.1b€160.5b€8.4b21.4x22.5x1.2x
Sat, 15 Jul 2023€195.0b€160.9b€8.6b24.6x22.7x1.2x
Price to Earnings Ratio

22.7x


Total Market Cap: €195.0bTotal 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 16.7x 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 Market1.96%
Telecom5.63%
Entertainment8.94%
Telecom Services and Carriers6.17%
Wireless Telecom5.18%
Interactive Media and Services0.89%
Media-0.34%
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 higher than its past year's earnings decline of 10.9% per year.
  • Investors are most pessimistic about the Wireless Telecom industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 14.1x.
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€25.747.9%
+€9.1b		-17.0%PE14.1x
EVD CTS Eventim KGaA€56.9011.5%
+€561.5m		-46.0%PE18.5x
1U1 1&1€19.905.1%
+€169.5m		7.0%PE25.8x
FNTN freenet€23.745.3%
+€140.1m		-13.9%PE10.7x
RRTL RTL Group€31.902.4%
+€113.5m		-12.1%PE209.8x

Latest News

VTWR
€38.50
Vantage Towers
7D
-0.3%
1Y
2.9%
VRV
€1.41
Verve Group
7D
-2.4%
1Y
-52.1%
EVD
€56.90
CTS Eventim KGaA
7D
11.5%
1Y
-46.0%
DTE
€25.74
Deutsche Telekom
7D
7.9%
1Y
-17.0%
WBAH
€19.50
Wild Bunch
7D
-7.1%
1Y
-35.4%
SB1
€8.60
Smartbroker Holding
7D
-20.0%
1Y
-21.5%
G24
€73.55
Scout24
7D
1.7%
1Y
-37.6%
1U1
€19.90
1&1
7D
5.1%
1Y
7.0%
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.
FNTN
€23.74
freenet
7D
5.3%
1Y
-13.9%
Narrative Update • Jun 26

FNTN: Future Returns Will Depend On Resilient Mobile And TV Execution

The analyst price target for freenet is updated to €27.76 from €28.92, reflecting recent Street research in which several firms have trimmed their targets and shifted to more neutral views as they reassess risks around mobile and TV trends. Analyst Commentary Recent Street research on freenet points to a more mixed setup, with price targets clustered in the mid to high €20s and €30 range and ratings that range from Sell to Buy.
SPG
€18.24
Springer Nature KGaA
7D
-5.8%
1Y
-5.3%
Narrative Update • Jun 26

SPG: Raised Price View And CFO Transition Will Support Future Upside

Analysts report a modest adjustment to the Springer Nature KGaA target, with the updated fair value moving from about €28.33 to roughly €26.36, as they factor in revised discount rate, growth, margin, and future P/E assumptions, and weigh mixed changes in recent price targets around €26.90 and slightly lower levels. Analyst Commentary Recent research on Springer Nature KGaA shows a mix of optimism and caution, with price targets clustering around the mid €20s and differing views on how execution and growth potential line up with that valuation range.
UTDI
€23.60
United Internet
7D
2.6%
1Y
-3.8%
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
€0.56
Tele Columbus
7D
18.1%
1Y
32.1%
RRTL
€31.90
RTL Group
7D
2.4%
1Y
-12.1%
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.
HLG
€0.62
Highlight Communications
7D
-11.4%
1Y
-33.0%
O2D
€2.02
Telefónica Deutschland Holding
7D
-1.5%
1Y
-11.9%
KZTA
€2.70
Kazakhtelecom JSC
7D
-12.9%
1Y
-30.4%