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German (DAX) Utilities Sector Analysis

UpdatedFeb 21, 2024
DataAggregated Company Financials
Companies16
  • 7D-1.3%
  • 3M-14.9%
  • 1Y-10.9%
  • YTD-11.3%

Over the last 7 days, the Utilities industry has dropped 2.2%, driven by declines in EnBW Energie Baden-Württemberg and RWE of 4.1% and 3.0%, respectively. Overall the industry is down 9.8% in 12 months. As for the next few years, earnings are forecast to decline by 23% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 21 Feb 2024€108.5b€352.0b€43.6b15.4x2.5x0.3x
Fri, 19 Jan 2024€117.4b€351.8b€44.3b16.2x2.6x0.3x
Sun, 17 Dec 2023€132.1b€351.8b€44.3b15.6x3x0.4x
Tue, 14 Nov 2023€128.1b€360.6b€42.0b15x3.1x0.4x
Thu, 12 Oct 2023€133.7b€445.4b€15.1b17.1x8.9x0.3x
Sat, 09 Sep 2023€140.8b€445.9b€15.0b14.3x9.4x0.3x
Mon, 07 Aug 2023€150.2b€459.6b€14.1b14.2x10.6x0.3x
Wed, 05 Jul 2023€142.5b€489.6b€2.3b21.3x63.1x0.3x
Fri, 02 Jun 2023€164.4b€489.6b€2.3b22.1x72.8x0.3x
Sun, 30 Apr 2023€135.0b€515.5b-€7,240,647,077.0027.1x-18.6x0.3x
Tue, 28 Mar 2023€123.4b€507.3b-€7,903,947,077.0028.1x-15.6x0.2x
Thu, 23 Feb 2023€86.0b€464.0b-€7,738,604,077.0031.6x-11.1x0.2x
Sat, 21 Jan 2023€61.1b€189.5b€5.5b35.7x11x0.3x
Mon, 19 Dec 2022€57.4b€189.5b€5.5b35.2x10.3x0.3x
Wed, 16 Nov 2022€58.0b€167.4b€6.1b29x9.6x0.3x
Fri, 14 Oct 2022€80.3b€205.6b€7.4b23.9x10.8x0.4x
Sun, 11 Sep 2022€89.4b€205.5b€7.4b34.1x12.1x0.4x
Tue, 09 Aug 2022€96.4b€385.6b€6.7m40.9x14494.9x0.3x
Thu, 07 Jul 2022€91.4b€385.6b€6.7m37.2x13740x0.2x
Sat, 04 Jun 2022€107.0b€385.6b€2.1m38.8x50286.7x0.3x
Mon, 02 May 2022€108.6b€316.1b€2.3b42x46.4x0.3x
Wed, 30 Mar 2022€105.3b€311.3b€2.2b45.5x48.1x0.3x
Fri, 25 Feb 2022€105.8b€219.6b€2.3b42.2x46.7x0.5x
Sun, 23 Jan 2022€110.4b€219.1b€2.4b36.8x45.8x0.5x
Tue, 21 Dec 2021€109.2b€219.1b€2.4b34.4x45.2x0.5x
Thu, 18 Nov 2021€110.0b€220.0b€2.8b23.3x38.8x0.5x
Sat, 16 Oct 2021€101.1b€186.3b€5.3b31.9x19.1x0.5x
Mon, 13 Sep 2021€103.1b€185.9b€5.2b31.7x19.9x0.6x
Wed, 11 Aug 2021€100.1b€185.9b€5.2b31.7x19.3x0.5x
Sun, 06 Jun 2021€120.9b€200.6b€4.5b23.6x26.6x0.6x
Wed, 10 Mar 2021€112.2b€188.8b€2.5b28.9x44.5x0.6x
Price to Earnings Ratio

44.5x


Total Market Cap: €112.2bTotal Earnings: €2.5bTotal Revenue: €188.8bTotal Market Cap vs Earnings and Revenue0%0%0%
German Utilities Sector Price to Earnings3Y Average 2297.4x202220232024
Current Industry PE
  • Investors are pessimistic on the German Utilities 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 2.5x which is lower than its 3-year average PE of 2kx.
  • The industry is trading close to its 3-year average PS ratio of 0.39x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 159% per year over the last three years.
  • Revenues for these companies have grown 23% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the German Utilities sector?

DE Market0.75%
Utilities-1.35%
Other Utilities0.90%
Renewable Energy0.25%
Gas Utilities0%
Water Utilities0%
Electric Utilities-8.73%
Industry PE
  • Investors are most optimistic about the Water Utilities industry which is trading above its 3-year average PE ratio.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Analysts are most optimistic on the Other Utilities industry, expecting annual earnings growth of 20% over the next 5 years.
  • This is better than its past earnings decline of 28% per year.
  • In contrast, the Renewable Energy industry is expected to see its earnings decline by 51% 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
UN0 Uniper€56.804.2%
+€949.6m
-2.6%PE0.7x
EOAN E.ON€12.041.3%
+€417.7m
17.5%PS0.3x
MVV1 MVV Energie€33.801.5%
+€33.0m
1.5%PE6.7x
MNV6 Mainova€398.000.5%
+€11.1m
-27.6%PS0.3x
BGZ Smart Grids€0.02712.5%
+€8.4k
50.0%n/a
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