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German (DAX) Market Analysis & Valuation

UpdatedAug 31, 2026
DataAggregated Company Financials
Companies776
  • 7D1.7%
  • 3M3.1%
  • 1Y5.8%
  • YTD4.5%

Over the past 7 days, the market has risen 1.7% with the Industrials sector contributing the most to the gain. As for the past 12 months, the market is up 5.8%. Earnings are forecast to grow by 15% 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, 31 Aug 2026€2.7t€2.6t€131.3b16.7x20.8x1x
Wed, 29 Jul 2026€2.6t€2.6t€127.3b17x20.7x1x
Fri, 26 Jun 2026€2.6t€2.6t€126.9b17x20.5x1x
Sun, 24 May 2026€2.6t€2.6t€126.7b16.9x20.8x1x
Tue, 21 Apr 2026€2.6t€2.6t€125.9b18.1x20.9x1x
Thu, 19 Mar 2026€2.5t€2.6t€99.5b17.8x25.5x1x
Sat, 14 Feb 2026€2.7t€2.7t€107.3b17.2x24.8x1x
Mon, 12 Jan 2026€2.7t€2.7t€103.6b18.5x26x1x
Wed, 10 Dec 2025€2.6t€2.7t€102.1b17.8x25.3x1x
Fri, 07 Nov 2025€2.5t€2.7t€99.8b17.7x25.2x0.9x
Sun, 05 Oct 2025€2.6t€2.7t€101.6b18.3x25.5x1x
Tue, 02 Sep 2025€2.6t€2.7t€101.6b18.7x25.6x1x
Thu, 31 Jul 2025€2.6t€2.7t€106.0b18.4x24.7x1x
Sat, 28 Jun 2025€2.6t€2.7t€103.7b19.1x24.7x0.9x
Mon, 26 May 2025€2.6t€2.8t€82.4b18.7x31.1x0.9x
Wed, 23 Apr 2025€2.4t€2.7t€107.8b17.5x22.1x0.9x
Fri, 21 Mar 2025€2.6t€2.7t€129.5b17.7x19.7x0.9x
Sun, 16 Feb 2025€2.5t€2.7t€112.2b17x22.3x0.9x
Tue, 14 Jan 2025€2.3t€2.7t€112.2b16.2x20.3x0.8x
Thu, 12 Dec 2024€2.3t€2.7t€114.3b16.1x20.4x0.9x
Sat, 09 Nov 2024€2.2t€2.7t€111.3b15.3x20.2x0.8x
Mon, 07 Oct 2024€2.3t€2.7t€119.4b16.9x19x0.8x
Wed, 04 Sep 2024€2.2t€2.7t€119.5b16.9x18.5x0.8x
Fri, 02 Aug 2024€2.2t€2.7t€109.2b17.2x19.8x0.8x
Sun, 30 Jun 2024€2.2t€2.7t€110.8b17.4x19.8x0.8x
Tue, 28 May 2024€2.0t€2.2t€82.6b18.1x24.5x0.9x
Thu, 25 Apr 2024€2.3t€2.8t€118.6b17.2x19x0.8x
Sat, 23 Mar 2024€2.3t€2.8t€121.0b16.3x18.7x0.8x
Mon, 19 Feb 2024€2.2t€2.9t€151.2b16x14.4x0.8x
Wed, 17 Jan 2024€2.1t€2.9t€146.5b16x14.4x0.7x
Fri, 15 Dec 2023€2.2t€2.9t€147.6b16.2x14.7x0.8x
Sun, 12 Nov 2023€2.0t€2.9t€150.5b15.5x13.4x0.7x
Tue, 10 Oct 2023€2.0t€3.0t€131.3b15.6x15.5x0.7x
Thu, 07 Sep 2023€2.1t€3.0t€130.3b16.1x16.4x0.7x
Price to Earnings Ratio

16.4x


Total Market Cap: €2.1tTotal Earnings: €130.3bTotal Revenue: €3.0tTotal Market Cap vs Earnings and Revenue0%0%0%
German Market Price to Earnings3Y Average 20.7x202420252026
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 20.7x.
Past Earnings Growth
  • The earnings for German listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have declined 4.0% per year.
  • This means that the cost of doing business could be reducing since sales have declined yet profits have remained steady.

Sector Trends

Which sectors have driven the changes within the German Market?

DE Market1.72%
Consumer Discretionary3.27%
Tech2.91%
Materials2.72%
Energy2.44%
Utilities2.10%
Financials2.08%
Industrials1.59%
Real Estate0.26%
Healthcare0.22%
Consumer Staples-0.56%
Telecom-0.98%
Sector PE
  • Investors favour the Healthcare sector the most for future growth even though it's trading below its 3-year average PE ratio of 48.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 19.6%, which is higher than its past year's earnings growth of 17.1% 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 35% over the next 5 years.
  • However this is lower than its past earnings growth rate of 155% per year.
  • In contrast, the Real Estate 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€289.853.3%
+€7.1b		21.2%PE28.3xIndustrials
SAP SAP€191.322.2%
+€4.8b		-18.2%PE28.3xTech
IFX Infineon Technologies€57.085.4%
+€3.8b		64.7%PE61.5xTech
DBK Deutsche Bank€34.915.6%
+€3.5b		15.5%PE10.7xFinancials
ALV Allianz€453.001.7%
+€2.7b		25.9%PE14.6xFinancials
See more

Market Insights

Header cover image
At first glance, this was the strongest earnings season in years. But when you look at where the growth actually came from, the story splits into two very different pictures.
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Latest News

ALV
€453.00
Allianz
7D
1.7%
1Y
25.9%
OHB
€189.60
OHB
7D
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1Y
183.0%
SAP
€191.32
SAP
7D
2.2%
1Y
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IFX
€57.08
Infineon Technologies
7D
5.4%
1Y
64.7%
BEI
€80.42
Beiersdorf
7D
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1Y
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EVD
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CTS Eventim KGaA
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1Y
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DBK
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Deutsche Bank
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1Y
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BMW
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Bayerische Motoren Werke
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HLAG
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Hapag-Lloyd
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1Y
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SHL
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Siemens Healthineers
7D
-2.2%
1Y
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SHL: Future Returns Will Hinge On Diagnostics Margin Pressure Risk

Analysts now set a slightly lower central price target for Siemens Healthineers at €36 from €37, reflecting updated expectations for profit margins and valuation multiples following recent mixed revisions to Street targets that range from €37 to €57.40. Analyst Commentary Recent Street research on Siemens Healthineers points to a mixed but generally cautious backdrop.
HEI
€170.05
Heidelberg Materials
7D
6.5%
1Y
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Narrative Update • Aug 13

HEI: Portfolio Review And Capital Returns Will Support Future Re Rating

Analysts have trimmed their price target for Heidelberg Materials to about €286 from €292, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E that collectively point to a more measured outlook for the stock. What's in the News for Heidelberg Materials Heidelberg Materials is considering multiple options for its Indian operations, including a possible divestment of its business in the country, according to comments from the CEO on a recent earnings call.
ADS
€154.20
adidas
7D
-0.7%
1Y
-7.1%
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SIE
€289.85
Siemens
7D
3.3%
1Y
21.2%
DTE
€28.52
Deutsche Telekom
7D
-1.9%
1Y
-9.4%
MBG
€46.95
Mercedes-Benz Group
7D
4.2%
1Y
-12.6%
9HF
€13.30
HenriPay Holding
7D
-5.0%
1Y
-20.8%