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

German (DAX) Market Analysis & Valuation

UpdatedJun 10, 2026
DataAggregated Company Financials
Companies774
  • 7D-2.9%
  • 3M1.7%
  • 1Y-0.8%
  • YTD-1.6%

Over the last 7 days, the market has dropped 2.9%, driven by pullbacks in the Information Technology and Industrials sectors of 8.2% and 3.6%, respectively. On the other hand, the Healthcare has risen by 3.1%. 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
Wed, 10 Jun 2026€2.6t€2.6t€127.1b16.9x20.3x1x
Fri, 08 May 2026€2.6t€2.6t€124.4b17.6x21.2x1x
Sun, 05 Apr 2026€2.5t€2.6t€125.2b17.6x20x0.9x
Tue, 03 Mar 2026€2.7t€2.7t€105.0b18.1x25.8x1x
Thu, 29 Jan 2026€2.7t€2.7t€104.1b18.3x25.6x1x
Sat, 27 Dec 2025€2.6t€2.7t€103.6b17.9x25.1x1x
Mon, 24 Nov 2025€2.5t€2.7t€104.6b17.6x23.5x0.9x
Wed, 22 Oct 2025€2.6t€2.7t€101.5b18.3x25.4x1x
Fri, 19 Sep 2025€2.5t€2.7t€101.9b18.5x24.8x0.9x
Sun, 17 Aug 2025€2.6t€2.7t€101.6b19x25.9x1x
Tue, 15 Jul 2025€2.6t€2.7t€104.4b18.8x24.7x1x
Thu, 12 Jun 2025€2.6t€2.7t€103.6b19x24.9x1x
Sat, 10 May 2025€2.6t€2.7t€106.8b18.9x24x1x
Mon, 07 Apr 2025€2.3t€2.7t€107.9b17.3x21.3x0.9x
Wed, 05 Mar 2025€2.5t€2.7t€126.2b16.6x19.7x0.9x
Fri, 31 Jan 2025€2.4t€2.7t€114.6b16.8x21.2x0.9x
Sun, 29 Dec 2024€2.3t€2.7t€114.3b15.7x19.9x0.8x
Tue, 26 Nov 2024€2.3t€2.7t€113.0b15.7x19.9x0.8x
Thu, 24 Oct 2024€2.3t€2.7t€119.3b16.3x19.1x0.8x
Sat, 21 Sep 2024€2.2t€2.7t€119.6b17x18.4x0.8x
Mon, 19 Aug 2024€2.2t€2.7t€118.4b17.2x18.3x0.8x
Wed, 17 Jul 2024€2.2t€2.7t€111.2b18x19.9x0.8x
Fri, 14 Jun 2024€2.2t€2.7t€110.8b17.6x20.3x0.8x
Sun, 12 May 2024€2.3t€2.7t€113.3b17.7x20.1x0.8x
Tue, 09 Apr 2024€2.3t€2.8t€119.5b17.4x19.2x0.8x
Thu, 07 Mar 2024€2.2t€2.8t€126.2b15.9x17.6x0.8x
Sat, 03 Feb 2024€2.2t€2.9t€147.8b16.2x14.6x0.8x
Mon, 01 Jan 2024€2.2t€2.9t€146.5b16.8x14.7x0.8x
Wed, 29 Nov 2023€2.1t€2.9t€147.8b16.1x14.1x0.7x
Fri, 27 Oct 2023€2.0t€3.0t€132.5b15.3x14.8x0.7x
Sun, 24 Sep 2023€2.1t€3.0t€131.2b16x16x0.7x
Tue, 22 Aug 2023€2.1t€3.0t€131.8b16.2x16.1x0.7x
Thu, 20 Jul 2023€2.2t€3.0t€138.6b16.7x15.8x0.7x
Sat, 17 Jun 2023€2.2t€3.0t€140.3b17.3x15.8x0.7x
Price to Earnings Ratio

15.8x


Total Market Cap: €2.2tTotal Earnings: €140.3bTotal Revenue: €3.0tTotal Market Cap vs Earnings and Revenue0%0%0%
German Market Price to Earnings3Y Average 20.3x202420252026
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 20.3x.
Past Earnings Growth
  • The earnings for companies in the German industry have declined 3.2% per year over the last three years.
  • Revenues have also declined 4.4% 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 Market-2.87%
Healthcare3.09%
Consumer Staples1.88%
Utilities0.52%
Financials0.10%
Telecom-3.02%
Industrials-3.55%
Consumer Discretionary-3.83%
Real Estate-4.21%
Materials-4.76%
Tech-8.25%
Energy-8.55%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 59.7x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 32.2%, 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 42% 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
MRK Merck KGaA€138.155.7%
+€3.2b		18.7%PE23.7xHealthcare
MUV2 Münchener Rückversicherungs-Gesellschaft in München€456.203.1%
+€1.8b		-18.9%PE8.6xFinancials
BAYN Bayer€35.494.1%
+€1.4b		32.7%PS0.8xHealthcare
SHL Siemens Healthineers€35.093.1%
+€1.2b		-25.2%PE18.7xHealthcare
RHM Rheinmetall€1.21k1.4%
+€800.5m		-27.8%PE53.5xIndustrials
See more

Market Insights

Header cover image
The most anticipated IPO in history lands next week at an expected $1.75 trillion price tag. Part launch business, part Starlink, and increasingly an AI bet — could the SpaceX IPO be carrying a valuation that has no room for error?
Continue reading
Land of the rising yields 📈

Latest News

IFX
€75.66
Infineon Technologies
7D
-14.0%
1Y
104.6%
MRK
€138.15
Merck KGaA
7D
5.7%
1Y
18.7%
BAYN
€35.49
Bayer
7D
4.1%
1Y
32.7%
MBG
€47.71
Mercedes-Benz Group
7D
-7.7%
1Y
-8.5%
BMW
€68.72
Bayerische Motoren Werke
7D
-5.8%
1Y
-11.7%
MUV2
€456.20
Münchener Rückversicherungs-Gesellschaft in München
7D
3.1%
1Y
-18.9%
Narrative Update • Jun 06

MUV2: Future Returns Will Reflect Rebased Earnings Power Despite Recent Rating Resets

For Münchener Rückversicherungs-Gesellschaft in München, the updated analyst price targets now cluster between about €480 and €590, reflecting reduced fair value estimates of around €551 as analysts balance softer revenue growth assumptions with slightly higher profit margin expectations and a modestly lower future P/E of about 11.26x. Analyst Commentary Recent Street research on Münchener Rückversicherungs-Gesellschaft in München highlights a tighter range of price targets, with revisions aligning around the €480 to €590 band as analysts reassess both valuation and execution risks.
SHL
€35.09
Siemens Healthineers
7D
3.1%
1Y
-25.2%
Narrative Update • Jun 06

SHL: Varian Integration And Portfolio Scale Will Support Future Multiple Expansion

Siemens Healthineers' updated analyst price target has been cut by €3.90 to €49.58, as analysts adjust their fair value assumptions and valuation multiples in line with a series of recent Street target reductions. Analyst Commentary Bullish Takeaways Bullish analysts, including JPMorgan, which keeps an Overweight rating alongside its revised €55.80 target, still frame Siemens Healthineers as attractive relative to their long run valuation models.
FME
€38.63
Fresenius Medical Care
7D
8.2%
1Y
-22.9%
SIE
€264.30
Siemens
7D
-5.2%
1Y
20.7%
Narrative Update • Jun 05

SIE: AI Data Center And Industrial AI Partnerships Will Shape 2026 Outlook

Narrative Update: Siemens Analyst Price Target Shift Analysts have nudged Siemens' fair value estimate higher, from about €282.91 to roughly €286.17, reflecting updated assumptions around revenue growth, profit margins and future P/E, alongside a series of recent price target increases in the €260 to €335 range and interest in its role within new AI data center architectures. Analyst Commentary Recent research points to a mix of enthusiasm and caution around Siemens, with several firms revising price targets and highlighting both growth angles and execution risks.
BAS
€48.53
BASF
7D
-5.0%
1Y
11.6%
ENR
€148.30
Siemens Energy
7D
-6.4%
1Y
78.6%
RWE
€56.04
RWE
7D
1.7%
1Y
65.1%
Narrative Update • Jun 03

RWE: Future Returns Will Reflect Global Wind And Battery Project Execution

RWE's updated fair value rises slightly to about €63, as analysts factor in higher profit margin expectations and refreshed price targets that include upward revisions from several brokerages alongside a recent downgrade to Neutral. Analyst Commentary Recent research shows a mix of optimism and caution around RWE's outlook, with several price target revisions in both directions.
SAP
€154.70
SAP
7D
-5.0%
1Y
-41.8%
Narrative Update • Jun 03

SAP: Autonomous AI Execution In Core ERP Will Unlock Future Upside

Analysts have edged down their average SAP price targets by roughly €20 to €50, reflecting slower than hoped AI adoption and lower published targets from several banks, even as some research still highlights the company as relatively resilient to AI disruption risk. Analyst Commentary Recent Street research on SAP clusters around cautious revisions to valuation targets alongside pockets of confidence in the company’s ability to execute on its AI roadmap and maintain relevance in core enterprise software.
RHM
€1,207.20
Rheinmetall
7D
1.4%
1Y
-27.8%
DB1
€245.70
Deutsche Börse
7D
1.5%
1Y
-11.6%
Narrative Update • Jun 02

DB1: Future Returns Will Reward Volatility Hedge Appeal And Premium Earnings Multiple

Analysts now see fair value for Deutsche Börse at €287.50, up from €282.46. This reflects a mix of recent target changes and upgrades, with some firms lifting their price targets while others have trimmed them, along with modest adjustments to assumptions on discount rate, revenue trends, profit margins, and future P/E.
DTE
€27.78
Deutsche Telekom
7D
-3.8%
1Y
-15.4%