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German (DAX) Market Analysis & Valuation

UpdatedJul 04, 2026
DataAggregated Company Financials
Companies773
  • 7D3.8%
  • 3M6.9%
  • 1Y3.9%
  • YTD1.7%

The market is up 1.7% over the last week, with the Industrials sector leading the way, up 2.8%. In the last 12 months, the market has been flat. As for the next few years, earnings are expected to grow by 17% per annum.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 04 Jul 2026€2.7t€2.6t€126.6b17.3x21.1x1x
Mon, 01 Jun 2026€2.7t€2.6t€127.1b17.4x20.9x1x
Wed, 29 Apr 2026€2.6t€2.6t€126.3b17.9x20.4x1x
Fri, 27 Mar 2026€2.5t€2.6t€101.4b17.5x24.2x0.9x
Sun, 22 Feb 2026€2.7t€2.7t€106.9b17.6x25.3x1x
Tue, 20 Jan 2026€2.7t€2.7t€103.7b18.1x25.6x1x
Thu, 18 Dec 2025€2.6t€2.7t€103.6b18.2x24.8x1x
Sat, 15 Nov 2025€2.5t€2.7t€103.8b17.7x24.5x0.9x
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
Price to Earnings Ratio

15.3x


Total Market Cap: €2.1tTotal Earnings: €138.9bTotal Revenue: €3.0tTotal Market Cap vs Earnings and Revenue0%0%0%
German Market Price to Earnings3Y Average 20.4x202420252026
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 20.4x.
Past Earnings Growth
  • The earnings for companies in the German industry have declined 3.1% 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 Market3.76%
Industrials6.95%
Utilities4.64%
Healthcare4.28%
Energy3.68%
Financials3.66%
Consumer Discretionary3.57%
Real Estate2.42%
Consumer Staples2.00%
Tech1.67%
Materials0.42%
Telecom-2.56%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 60.9x.
    • 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 40% 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
SIE Siemens€284.106.2%
+€12.8b		31.5%PE28.7xIndustrials
ENR Siemens Energy€168.129.2%
+€12.1b		81.6%PE64.6xIndustrials
RHM Rheinmetall€1.09k15.5%
+€6.8b		-37.7%PE48.5xIndustrials
BAYN Bayer€53.3613.5%
+€6.2b		103.7%PS1.2xHealthcare
SAP SAP€139.643.3%
+€5.3b		-45.3%PE22.3xTech
See more

Market Insights

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Markets are supposed to reprice risk when it changes. This time they've repriced the promise, but left the threat largely untouched. Whether that's an oversight or a fair call is worth thinking through.
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