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

German (DAX) Market Analysis & Valuation

UpdatedNov 14, 2025
DataAggregated Company Financials
Companies756
  • 7D1.5%
  • 3M-3.2%
  • 1Y12.9%
  • YTD10.4%

Over the last 7 days, the market has risen 1.5%, driven by gains of 3.2% in the Financials sector. In the last year, the market has climbed 13%. 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
Sat, 15 Nov 2025€2.6t€2.7t€105.3b17.8x24.3x0.9x
Mon, 13 Oct 2025€2.6t€2.7t€101.5b18.4x25.3x1x
Wed, 10 Sep 2025€2.6t€2.7t€101.8b18.4x25.1x1x
Fri, 08 Aug 2025€2.6t€2.7t€102.5b18.9x25.6x1x
Sun, 06 Jul 2025€2.5t€2.7t€103.8b19x24.5x0.9x
Tue, 03 Jun 2025€2.6t€2.7t€103.4b19.1x24.9x1x
Thu, 01 May 2025€2.5t€2.7t€110.5b18.4x22.5x0.9x
Sat, 29 Mar 2025€2.5t€2.7t€107.9b17.2x23.1x0.9x
Mon, 24 Feb 2025€2.5t€2.7t€112.1b16.7x22.2x0.9x
Wed, 22 Jan 2025€2.4t€2.7t€114.2b16.6x20.7x0.9x
Fri, 20 Dec 2024€2.3t€2.7t€114.1b15.5x19.9x0.8x
Sun, 17 Nov 2024€2.2t€2.7t€112.2b16.1x20x0.8x
Tue, 15 Oct 2024€2.3t€2.7t€119.0b16.5x19.2x0.8x
Thu, 12 Sep 2024€2.2t€2.7t€120.4b16.5x18x0.8x
Sat, 10 Aug 2024€2.1t€2.7t€115.4b17.1x18.3x0.8x
Mon, 08 Jul 2024€2.2t€2.7t€111.3b18.2x19.8x0.8x
Wed, 05 Jun 2024€2.2t€2.7t€111.0b17.8x20.1x0.8x
Fri, 03 May 2024€2.2t€2.8t€120.2b17.3x18.4x0.8x
Sun, 31 Mar 2024€2.3t€2.8t€119.2b17x19.3x0.8x
Tue, 27 Feb 2024€2.2t€2.8t€152.7b15.9x14.4x0.8x
Thu, 25 Jan 2024€2.2t€2.9t€146.5b16.6x14.7x0.8x
Sat, 23 Dec 2023€2.2t€2.9t€147.3b16.3x14.6x0.8x
Mon, 20 Nov 2023€2.1t€2.9t€150.5b15.9x13.9x0.7x
Wed, 18 Oct 2023€2.0t€3.0t€131.4b15.9x15.6x0.7x
Fri, 15 Sep 2023€2.1t€3.0t€131.2b16.4x16.3x0.7x
Sun, 13 Aug 2023€2.2t€3.0t€134.7b16.6x16x0.7x
Tue, 11 Jul 2023€2.1t€3.0t€138.9b16.7x15.3x0.7x
Thu, 08 Jun 2023€2.2t€3.0t€140.2b17.3x15.6x0.7x
Sat, 06 May 2023€2.2t€3.0t€140.4b17.5x15.7x0.7x
Mon, 03 Apr 2023€2.2t€3.0t€149.3b16.3x14.8x0.7x
Wed, 01 Mar 2023€2.1t€2.9t€158.3b15.7x13.6x0.7x
Fri, 27 Jan 2023€2.1t€2.6t€173.1b16.1x12.1x0.8x
Sun, 25 Dec 2022€1.9t€2.6t€173.5b15.4x11x0.7x
Tue, 22 Nov 2022€2.0t€2.7t€170.5b15.5x11.6x0.7x
Price to Earnings Ratio

11.6x


Total Market Cap: €2.0tTotal Earnings: €170.5bTotal Revenue: €2.7tTotal Market Cap vs Earnings and Revenue0%0%0%
German Market Price to Earnings3Y Average 18.4x202320242025
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 24.3x which is higher than its 3-year average PE of 18.4x.
Past Earnings Growth
  • The earnings for German listed companies have declined 15% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the German Market?

DE Market1.55%
Healthcare4.13%
Financials3.21%
Materials3.09%
Consumer Discretionary2.01%
Telecom0.97%
Real Estate0.97%
Industrials0.93%
Energy0.50%
Utilities0.15%
Tech-0.33%
Consumer Staples-1.89%
Sector PE
  • Investors favour the Materials sector the most for future growth which is trading above its 3-year average PE ratio.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 30.4% which is higher than its past year's earnings decline of 6.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 49% over the next 5 years.
  • This is better than its past earnings decline of 9.8% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 7.2% 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
ENR Siemens Energy€110.508.5%
+€7.4b		135.2%PE98.7xIndustrials
ALV Allianz€367.604.4%
+€5.9b		27.7%PE13.9xFinancials
IFX Infineon Technologies€35.307.9%
+€3.6b		16.5%PE46.7xTech
MRK Merck KGaA€117.557.4%
+€3.5b		-17.9%PE17.3xHealthcare
DTE Deutsche Telekom€27.242.2%
+€2.7b		-5.0%PE10.8xTelecom
See more

Market Insights

Header cover image
💸 The Return of Share Buybacks in Tech
Richard Bowman avatar
Richard Bowman
|
|
Some of the biggest names in tech are restarting their buyback programs. By the end of this piece, you’ll see: What’s really driving this new buyback cycle, which companies are using it to create genuine value, and when repurchases are smart capital allocation or financial sleight of hand.
Continue reading
⚠️ Default Distress: What Private Credit Troubles Could Mean for Regional Banks
Last Week

⚠️ Default Distress: What Private Credit Troubles Could Mean for Regional Banks

Latest News

IFX
€35.30
Infineon Technologies
7D
7.9%
1Y
16.5%

Infineon Technologies AG Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Nov 15
Infineon Technologies AG Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
MRK
€117.55
Merck KGaA
7D
7.4%
1Y
-17.9%
BAYN
€28.41
Bayer
7D
9.0%
1Y
39.9%
DTE
€27.24
Deutsche Telekom
7D
2.2%
1Y
-5.0%
RHM
€1,727.00
Rheinmetall
7D
-1.3%
1Y
199.9%

Rheinmetall's (ETR:RHM) Shareholders May Want To Dig Deeper Than Statutory Profit

Nov 14
Rheinmetall's (ETR:RHM) Shareholders May Want To Dig Deeper Than Statutory Profit
HAG
€84.15
Hensoldt
7D
-8.2%
1Y
144.9%

Hensoldt's (ETR:HAG) Solid Profits Have Weak Fundamentals

Nov 14
Hensoldt's (ETR:HAG) Solid Profits Have Weak Fundamentals
EOAN
€15.25
E.ON
7D
-5.6%
1Y
31.1%

EOAN: Future Revenue Strength Will Drive Continued Outperformance In Sector

Narrative Update on E.ON: Analyst Price Target Revision Analysts have modestly increased their fair value estimate for E.ON, lifting the target from €16.89 to €17.34. This revision is attributed to positive adjustments to revenue growth projections and updated market assessments.
RWE
€45.69
RWE
7D
7.0%
1Y
43.1%
HEI
€209.20
Heidelberg Materials
7D
7.3%
1Y
77.3%

HEI: Future Profit Margins And Potential Acquisitions Will Shape Risk And Opportunity

The analyst price target for Heidelberg Materials has increased slightly to €210.29 from €210.55. Analysts cite improved revenue growth projections and expanding profit margins as factors supporting a higher stock valuation.
SAP
€211.10
SAP
7D
-2.1%
1Y
-2.9%

SAP: Cloud Transition And New Deal Activity Will Drive Durable Long-Term Gains

SAP's fair value price target was raised slightly from €288.14 to €288.67. Analysts point to resilient earnings visibility and ongoing cloud growth potential, despite mixed revenue guidance.
SIE
€230.35
Siemens
7D
-2.9%
1Y
22.9%
CON
€63.88
Continental
7D
-3.7%
1Y
1.2%
ENR
€110.50
Siemens Energy
7D
8.5%
1Y
135.2%

ENR: Sector Strength And Gas Investment Cycle Will Shape Near-Term Upside

Analysts have modestly raised their price target for Siemens Energy, increasing it from EUR 112 to EUR 120. They cite improved fair value estimates and expectations for growth amid strengthening sector fundamentals.
DB1
€206.10
Deutsche Börse
7D
-1.5%
1Y
-1.8%

DB1: Neutral Ratings And Stable Profit Outlook Will Sustain Market Confidence

Deutsche Börse's analyst price target has been revised slightly downward to €257.60 from €259.87. This change reflects analysts' assessment of modestly lower growth expectations along with a stable profit outlook.
BEI
€91.26
Beiersdorf
7D
-2.5%
1Y
-26.6%

BEI: Future Product Rollouts Will Drive Upside Despite Sector Headwinds

Analysts have reduced their fair value estimate for Beiersdorf from €118.32 to €116.89, citing slightly lower forecasts for revenue growth and profit margins in light of recent downward price target revisions across the sector. Analyst Commentary Following a series of recent street research reports, analysts have updated their perspectives on Beiersdorf.
ALV
€367.60
Allianz
7D
4.4%
1Y
27.7%