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

German (DAX) Market Analysis & Valuation

UpdatedJul 14, 2026
DataAggregated Company Financials
Companies775
  • 7D-2.3%
  • 3M0.8%
  • 1Y0.3%
  • YTD-0.6%

Over the last 7 days, the market has dropped 2.6%, driven by a decline of 5.6% in the Industrials sector. Overall the market has been flat in the last year. Looking forward, earnings are forecast to grow by 17% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 14 Jul 2026€2.6t€2.6t€126.6b17x20.6x1x
Thu, 11 Jun 2026€2.6t€2.6t€127.1b16.7x20.1x1x
Sat, 09 May 2026€2.6t€2.6t€124.2b17.3x20.8x1x
Mon, 06 Apr 2026€2.5t€2.6t€125.2b17.6x20x0.9x
Wed, 04 Mar 2026€2.6t€2.7t€105.4b17.6x24.4x1x
Fri, 30 Jan 2026€2.6t€2.7t€106.1b18x24.7x1x
Sun, 28 Dec 2025€2.6t€2.7t€103.6b18x25.1x1x
Tue, 25 Nov 2025€2.5t€2.7t€104.6b17.6x23.7x0.9x
Thu, 23 Oct 2025€2.6t€2.7t€101.5b18.2x25.3x1x
Sat, 20 Sep 2025€2.5t€2.7t€101.9b18.4x24.8x0.9x
Mon, 18 Aug 2025€2.6t€2.7t€100.3b19x26.2x1x
Wed, 16 Jul 2025€2.6t€2.7t€104.4b18.9x24.7x1x
Fri, 13 Jun 2025€2.6t€2.7t€103.4b19.2x24.7x0.9x
Sun, 11 May 2025€2.6t€2.7t€106.8b19.1x24x1x
Tue, 08 Apr 2025€2.2t€2.7t€107.8b16.9x20.6x0.8x
Thu, 06 Mar 2025€2.6t€2.7t€126.2b17x20.3x1x
Sat, 01 Feb 2025€2.4t€2.7t€114.1b16.7x21.4x0.9x
Mon, 30 Dec 2024€2.3t€2.7t€114.3b15.8x19.9x0.8x
Wed, 27 Nov 2024€2.2t€2.7t€113.0b15.8x19.8x0.8x
Fri, 25 Oct 2024€2.3t€2.7t€119.7b16.4x19.1x0.8x
Sun, 22 Sep 2024€2.2t€2.7t€119.6b17x18.4x0.8x
Tue, 20 Aug 2024€2.2t€2.7t€118.4b17.3x18.4x0.8x
Thu, 18 Jul 2024€2.2t€2.7t€111.2b17.9x19.8x0.8x
Sat, 15 Jun 2024€2.2t€2.7t€110.8b17.6x19.6x0.8x
Mon, 13 May 2024€2.3t€2.7t€113.4b17.7x20.1x0.8x
Wed, 10 Apr 2024€2.3t€2.8t€119.5b17.1x19x0.8x
Fri, 08 Mar 2024€2.2t€2.8t€125.9b15.8x17.7x0.8x
Sun, 04 Feb 2024€2.2t€2.9t€147.8b16.2x14.6x0.8x
Tue, 02 Jan 2024€2.2t€2.9t€146.5b16.8x14.7x0.8x
Thu, 30 Nov 2023€2.1t€2.9t€147.8b16.1x14.3x0.7x
Sat, 28 Oct 2023€2.0t€3.0t€134.6b15.8x14.5x0.7x
Mon, 25 Sep 2023€2.1t€3.0t€131.2b16x16x0.7x
Wed, 23 Aug 2023€2.1t€3.0t€131.8b16.3x16.2x0.7x
Fri, 21 Jul 2023€2.2t€3.0t€138.6b16.9x15.8x0.7x
Price to Earnings Ratio

15.8x


Total Market Cap: €2.2tTotal Earnings: €138.6bTotal Revenue: €3.0tTotal Market Cap vs Earnings and Revenue0%0%0%
German Market Price to Earnings3Y Average 20.5x202420252026
Current Market PE
  • Investors are relatively neutral on the German market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 20.5x.
Past Earnings Growth
  • The earnings for companies in the German industry have declined 3.0% per year over the last three years.
  • Revenues have also declined 4.3% 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 Market-2.30%
Telecom3.54%
Consumer Staples1.42%
Financials0.091%
Materials0.055%
Energy-0.36%
Healthcare-0.42%
Utilities-1.03%
Tech-3.00%
Consumer Discretionary-3.13%
Real Estate-4.50%
Industrials-5.82%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 61.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 32.7%, which is higher than its past year's earnings growth of 5.3% per year.
  • The Real Estate sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 41% over the next 5 years.
  • However this is lower than its past earnings growth rate of 135% per year.
  • In contrast, the Utilities industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
DTE Deutsche Telekom€26.745.1%
+€6.2b		-12.6%PE14.6xTelecom
MUV2 Münchener Rückversicherungs-Gesellschaft in München€510.002.8%
+€1.8b		-10.1%PE9.6xFinancials
DHL Deutsche Post€56.942.2%
+€1.4b		46.5%PE17.9xIndustrials
BAS BASF€48.853.2%
+€1.3b		14.2%PE27.9xMaterials
HNR1 Hannover Rück€252.003.4%
+€1.0b		-4.3%PE10.6xFinancials
See more

Market Insights

Header cover image
No financial statement shows what a brand is 'worth' despite it being an incredibly valuable asset for some companies. In the volatile world of social media hypes and fads, it's worth understanding what makes a true enduring brand.
Continue reading
Q-Day: The risk the market forgot to reprice

Latest News

MUV2
€510.00
Münchener Rückversicherungs-Gesellschaft in München
7D
2.8%
1Y
-10.1%
SIE
€272.10
Siemens
7D
-3.4%
1Y
23.5%
DHL
€56.94
Deutsche Post
7D
2.2%
1Y
46.5%
BAS
€48.85
BASF
7D
3.2%
1Y
14.2%
Narrative Update • Jul 09

BAS: AI Plastics And Bio-Based Ingredients Will Shape Balanced Medium-Term Outlook

The analyst fair value estimate for BASF has shifted from €48.50 to about €52.55, reflecting a series of recent price target revisions in the €40 to €60 range as analysts factor in updated assumptions on discount rates, revenue growth, profit margins, and P/E expectations. Analyst Commentary Recent research on BASF shows a mixed but generally constructive tone, with several firms adjusting price targets into the €40 to €60 band and updating their models for discount rates, revenue assumptions, margins, and P/E expectations.
DTG
€42.15
Daimler Truck Holding
7D
-4.1%
1Y
4.6%
SHL
€35.56
Siemens Healthineers
7D
1.9%
1Y
-22.7%
Narrative Update • Jul 09

SHL: Future Returns Will Depend On Diagnostics Carve Out And Outlook Reset

The analyst price target for Siemens Healthineers has been revised from €41.00 to €37.00. This change reflects a reset that aligns with lower Street targets cited by several banks, while still incorporating updated assumptions on growth, margins, discount rate and future P/E.
DBK
€31.00
Deutsche Bank
7D
-4.0%
1Y
21.5%
Narrative Update • Jul 08

DBK: Capital Returns And India Exit Will Support Future Upside

Analysts have nudged their price target for Deutsche Bank higher to €41.0 from €40.0, reflecting updated assumptions for slightly stronger revenue growth, profit margins, and a modestly higher future P/E multiple in their valuation work. What’s in the News for Deutsche Bank Deutsche Bank expects S&P 500 companies to report Q2 earnings that clear current consensus, highlighting contributions from AI focused semiconductor and mega cap technology stocks, with additional support from energy, materials, and technology sectors.
RHM
€979.20
Rheinmetall
7D
-13.3%
1Y
-47.9%
IFX
€70.37
Infineon Technologies
7D
-8.9%
1Y
88.4%
Narrative Update • Jul 07

IFX: AI Power Demand Optimism Will Test Dresden Fab Execution

Infineon Technologies' analyst fair value estimate has been lifted from €43.00 to €50.00, as analysts point to higher modeled revenue growth and profitability, alongside a series of Street price target increases into the €80 to €100 range supported by AI power demand and capacity commentary. Analyst Commentary Recent Street commentary around Infineon Technologies has centered on how the stock reflects expectations for AI related power demand, new capacity such as the Dresden fab, and the company’s ability to execute on a larger revenue base without substantial new clean room investments.
HLAG
€119.80
Hapag-Lloyd
7D
4.1%
1Y
-5.9%
ENR
€150.68
Siemens Energy
7D
-11.6%
1Y
63.7%
BMW
€57.92
Bayerische Motoren Werke
7D
-3.7%
1Y
-30.6%
DTE
€26.74
Deutsche Telekom
7D
5.1%
1Y
-12.6%
SAP
€140.72
SAP
7D
0.5%
1Y
-45.5%
Narrative Update • Jul 01

SAP: Autonomous AI Suite Progress Will Support Future Upside

The analyst price target for SAP is revised from about €234 to about €214, reflecting a series of recent target cuts and mixed commentary from firms that see slower than expected AI adoption alongside ongoing efforts to close product gaps. Analyst Commentary Recent research on SAP highlights a split view, with some bullish analysts seeing room for upside tied to product execution and others taking a more cautious stance as they reassess growth and valuation assumptions.
HNR1
€252.00
Hannover Rück
7D
3.4%
1Y
-4.3%
HOT
€456.80
HOCHTIEF
7D
-8.2%
1Y
160.6%
Narrative Update • Jul 01

HOT: Index Promotion And Upgrades Will Likely Leave Shares Overstretched

Analysts have raised their fair value estimate for HOCHTIEF from about €167.50 to €259.00, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E, as reflected in recent upgrades such as Kepler Cheuvreux turning more positive on the stock. What's in the News for HOCHTIEF HOCHTIEF Aktiengesellschaft has been added to the Germany DAX Index (Performance), according to a key index constituent update.