Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

German (DAX) Market Analysis & Valuation

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies770
  • 7D0.5%
  • 3M7.3%
  • 1Y6.1%
  • YTD3.3%

In the last week, the market has stayed flat, however the Energy sector stood out, gaining 6.7%. More promisingly, the market is up 6.1% over the past year. Earnings are forecast to grow by 16% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the German Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 02 Mar 2026€2.7t€2.7t€105.0b18.1x25.8x1x
Wed, 28 Jan 2026€2.7t€2.7t€104.1b18.2x25.6x1x
Fri, 26 Dec 2025€2.6t€2.7t€103.6b17.9x25.1x1x
Sun, 23 Nov 2025€2.5t€2.7t€104.7b17.5x23.5x0.9x
Tue, 21 Oct 2025€2.6t€2.7t€101.5b18.2x25.4x1x
Thu, 18 Sep 2025€2.5t€2.7t€101.9b18.6x24.6x0.9x
Sat, 16 Aug 2025€2.6t€2.7t€101.6b19x25.9x1x
Mon, 14 Jul 2025€2.6t€2.7t€103.8b19x25x1x
Wed, 11 Jun 2025€2.6t€2.7t€103.6b19x25x1x
Fri, 09 May 2025€2.5t€2.7t€107.7b18.8x23.7x0.9x
Sun, 06 Apr 2025€2.3t€2.7t€107.9b17.3x21.3x0.9x
Tue, 04 Mar 2025€2.6t€2.7t€125.5b16.6x20.5x0.9x
Thu, 30 Jan 2025€2.4t€2.7t€114.6b16.6x21.2x0.9x
Sat, 28 Dec 2024€2.3t€2.7t€114.3b15.7x19.9x0.8x
Mon, 25 Nov 2024€2.2t€2.7t€112.8b15.8x19.9x0.8x
Wed, 23 Oct 2024€2.3t€2.7t€119.2b16.2x19.2x0.8x
Fri, 20 Sep 2024€2.2t€2.7t€119.7b17x18.7x0.8x
Sun, 18 Aug 2024€2.2t€2.7t€118.2b17.3x18.4x0.8x
Tue, 16 Jul 2024€2.2t€2.7t€111.2b18x19.9x0.8x
Thu, 13 Jun 2024€2.2t€2.7t€110.8b17.6x20.1x0.8x
Sat, 11 May 2024€2.3t€2.7t€113.3b17.7x20.1x0.8x
Mon, 08 Apr 2024€2.3t€2.8t€119.5b17.2x19.1x0.8x
Wed, 06 Mar 2024€2.2t€2.8t€126.2b15.9x17.5x0.8x
Fri, 02 Feb 2024€2.2t€2.9t€147.7b16.2x14.6x0.8x
Sun, 31 Dec 2023€2.2t€2.9t€146.5b16.8x14.7x0.8x
Tue, 28 Nov 2023€2.1t€2.9t€147.8b16.2x14.2x0.7x
Thu, 26 Oct 2023€2.0t€3.0t€131.8b15.4x15x0.7x
Sat, 23 Sep 2023€2.1t€3.0t€131.2b16x16x0.7x
Mon, 21 Aug 2023€2.1t€3.0t€131.8b16.5x16.1x0.7x
Wed, 19 Jul 2023€2.2t€3.0t€138.8b16.9x15.8x0.7x
Fri, 16 Jun 2023€2.2t€3.0t€140.2b17.3x15.7x0.7x
Sun, 14 May 2023€2.2t€3.0t€140.9b17.3x15.5x0.7x
Tue, 11 Apr 2023€2.2t€3.0t€148.2b16.6x14.8x0.7x
Thu, 09 Mar 2023€2.2t€2.9t€155.8b15.7x14.1x0.8x
Price to Earnings Ratio

14.1x


Total Market Cap: €2.2tTotal Earnings: €155.8bTotal Revenue: €2.9tTotal Market Cap vs Earnings and Revenue0%0%0%
German Market Price to Earnings3Y Average 19.7x202420252026
Current Market PE
  • Investors are optimistic on the German market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 25.8x which is higher than its 3-year average PE of 19.7x.
Past Earnings Growth
  • The earnings for companies in the German industry have declined 12% per year over the last three years.
  • Revenues have also declined 2.4% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

Which sectors have driven the changes within the German Market?

DE Market0.50%
Energy6.72%
Telecom3.34%
Utilities2.93%
Real Estate2.19%
Financials1.16%
Consumer Discretionary0.55%
Industrials-0.11%
Consumer Staples-0.20%
Tech-0.27%
Healthcare-0.76%
Materials-2.19%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 35.6x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 27.4% which is higher than its past year's earnings decline of 8.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 57% over the next 5 years.
  • This is better than its past earnings decline of 9.1% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 6.6% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
HLAG Hapag-Lloyd€138.5013.0%
+€2.8b		-7.0%PE15.8xIndustrials
DTE Deutsche Telekom€33.20-0.2%
€2.6b		-7.4%PE16.7xTelecom
EOAN E.ON€19.445.2%
+€2.5b		58.0%PE16.9xUtilities
DB1 Deutsche Börse€233.306.2%
+€2.5b		-9.3%PE21.4xFinancials
RWE RWE€54.906.2%
+€2.3b		79.3%PE18.1xUtilities
See more

Market Insights

Header cover image
Three contrarian investing ideas for a new market
Stella Ong avatar
Stella Ong
|
|
In many ways, the market is upside down. This new setting might offer some unexpected opportunities for investors.
Continue reading
Alternatives part 2: 2026 and beyond 🔭
Last Week

Alternatives part 2: 2026 and beyond 🔭

Latest News

SIE
€247.40
Siemens
7D
2.8%
1Y
9.5%
HEI
€189.55
Heidelberg Materials
7D
-6.9%
1Y
26.7%
KGX
€58.00
KION GROUP
7D
-10.4%
1Y
45.9%
MUV2
€555.60
Münchener Rückversicherungs-Gesellschaft in München
7D
2.4%
1Y
-1.1%
BAYN
€42.01
Bayer
7D
-1.8%
1Y
75.0%
DTE
€34.09
Deutsche Telekom
7D
2.5%
1Y
-4.9%
SAP
€170.96
SAP
7D
1.8%
1Y
-37.0%
EOAN
€19.68
E.ON
7D
6.5%
1Y
60.0%

EOAN: Mixed Rating Shifts And Execution Risks Will Shape Future Fair Value

The analyst fair value estimate for E.ON has shifted from roughly €17.70 to about €18.30, as analysts factor in updated views on revenue growth, margins and sector positioning, reflected in recent price target revisions and rating changes from major banks. Analyst Commentary Recent research shows a mixed but engaged analyst community around E.ON, with several firms updating both ratings and price targets in a short time window.
HAG
€74.40
Hensoldt
7D
-8.0%
1Y
16.3%
NDX1
€43.12
Nordex
7D
28.0%
1Y
230.2%
FME
€39.45
Fresenius Medical Care
7D
-4.7%
1Y
-16.9%
DBK
€30.30
Deutsche Bank
7D
-1.2%
1Y
44.6%
DB1
€232.40
Deutsche Börse
7D
5.8%
1Y
-9.7%

DB1: Future Upside Will Be Driven By Mixed Price Revisions

Analysts have made a modest upward adjustment to their fair value estimate for Deutsche Börse to €260.54, reflecting mixed recent price target moves of around €2 to €6 and updated assumptions on discount rate, profit margin and future P/E. Analyst Commentary Recent street research on Deutsche Börse has been mixed, with one major bank lifting its price target while others have trimmed theirs by €6.
MTX
€365.40
MTU Aero Engines
7D
-8.1%
1Y
5.8%

MTX: Higher Long Term Revenue Assumptions Will Support Future Rerating Potential

Analysts have kept their price target for MTU Aero Engines steady at €515.00, citing slightly higher assumed revenue growth, a stable profit margin outlook, and a lower future P/E multiple as the key inputs behind the unchanged view. Valuation Changes Fair Value: Maintained at €515.00, indicating no change in the central valuation outcome.
RWE
€54.54
RWE
7D
5.5%
1Y
78.1%

RWE: Future Returns Will Reflect Offshore Wind JV And Mixed Margin Expectations

The updated analyst price target for RWE rises to €55.53 from €53.74. Analysts attribute the change to refreshed assumptions on discount rates, profit margins and future P/E, as well as recent target increases from Citi, JPMorgan and Berenberg, partially offset by a downgrade at Bernstein.
RHM
€1,663.50
Rheinmetall
7D
-2.2%
1Y
45.3%

RHM: Space Data Contract Will Support Future Margins And Earnings

Rheinmetall's analyst price targets have shifted lower by around €100 as analysts factor in updated growth expectations, a slightly higher discount rate, and modestly adjusted assumptions for margins and future P/E multiples. Analyst Commentary Recent Street research on Rheinmetall reflects a mix of recalibrated targets and ongoing conviction, as analysts refresh their models for growth, margins, and valuation multiples.