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

German (DAX) Market Analysis & Valuation

UpdatedOct 11, 2025
DataAggregated Company Financials
Companies751
  • 7D-1.0%
  • 3M-1.6%
  • 1Y12.4%
  • YTD12.1%

Over the last 7 days, the market has dropped 1.0%, driven by declines in the Consumer Discretionary and Industrials sectors of 4.0% and 1.8%, respectively. In the last year, the market is actually up 12%. 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, 11 Oct 2025€2.6t€2.7t€101.5b18.4x25.3x1x
Mon, 08 Sep 2025€2.6t€2.7t€101.8b18.6x25.1x0.9x
Wed, 06 Aug 2025€2.6t€2.7t€101.8b18.5x25.4x1x
Fri, 04 Jul 2025€2.6t€2.7t€103.8b19x24.7x0.9x
Sun, 01 Jun 2025€2.6t€2.7t€103.4b18.6x25x1x
Tue, 29 Apr 2025€2.5t€2.7t€111.3b18.7x22.2x0.9x
Thu, 27 Mar 2025€2.5t€2.7t€132.1b17.7x19.1x0.9x
Sat, 22 Feb 2025€2.5t€2.7t€112.1b16.7x22.2x0.9x
Mon, 20 Jan 2025€2.4t€2.7t€114.2b16.3x20.6x0.9x
Wed, 18 Dec 2024€2.3t€2.7t€114.2b15.6x20.1x0.8x
Fri, 15 Nov 2024€2.2t€2.7t€110.5b15.2x20.3x0.8x
Sun, 13 Oct 2024€2.3t€2.7t€119.0b16.5x19.2x0.8x
Tue, 10 Sep 2024€2.2t€2.7t€119.5b16.4x18.2x0.8x
Thu, 08 Aug 2024€2.1t€2.7t€113.0b16.9x18.6x0.8x
Sat, 06 Jul 2024€2.2t€2.7t€111.3b18.1x19.8x0.8x
Mon, 03 Jun 2024€2.2t€2.7t€110.9b17.6x20.2x0.8x
Wed, 01 May 2024€2.2t€2.8t€122.2b17.1x18.2x0.8x
Fri, 29 Mar 2024€2.3t€2.8t€119.5b16.6x19.3x0.8x
Sun, 25 Feb 2024€2.2t€2.8t€154.9b15.7x14.2x0.8x
Tue, 23 Jan 2024€2.1t€2.9t€146.5b16.3x14.5x0.7x
Thu, 21 Dec 2023€2.2t€2.9t€147.5b16.3x14.7x0.8x
Sat, 18 Nov 2023€2.1t€2.9t€151.9b16.1x13.8x0.7x
Mon, 16 Oct 2023€2.0t€3.0t€131.5b15.9x15.5x0.7x
Wed, 13 Sep 2023€2.1t€3.0t€131.1b16.2x16.2x0.7x
Fri, 11 Aug 2023€2.2t€3.0t€135.3b16.6x16x0.7x
Sun, 09 Jul 2023€2.1t€3.0t€138.8b16.8x15.3x0.7x
Tue, 06 Jun 2023€2.2t€3.0t€140.2b17.1x15.6x0.7x
Thu, 04 May 2023€2.2t€3.0t€146.5b17.5x15.1x0.7x
Sat, 01 Apr 2023€2.2t€3.0t€149.4b16.4x14.8x0.7x
Mon, 27 Feb 2023€2.1t€2.9t€158.1b15.7x13.5x0.7x
Wed, 25 Jan 2023€2.1t€2.6t€173.1b16x12.1x0.8x
Fri, 23 Dec 2022€1.9t€2.6t€172.9b15.5x11x0.7x
Sun, 20 Nov 2022€2.0t€2.7t€170.6b15.4x11.7x0.7x
Tue, 18 Oct 2022€1.8t€2.5t€169.1b14x10.4x0.7x
Price to Earnings Ratio

10.4x


Total Market Cap: €1.8tTotal Earnings: €169.1bTotal Revenue: €2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
German Market Price to Earnings3Y Average 18x202320242025
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 25.3x which is higher than its 3-year average PE of 18.0x.
Past Earnings Growth
  • The earnings for German listed companies have declined 16% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.4% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Sector Trends

Which sectors have driven the changes within the German Market?

DE Market-1.04%
Energy5.65%
Financials1.09%
Consumer Staples1.01%
Telecom0.71%
Utilities0.39%
Real Estate-0.22%
Materials-0.59%
Tech-1.04%
Industrials-1.81%
Healthcare-2.17%
Consumer Discretionary-4.02%
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 28.7% which is higher than its past year's earnings decline of 1.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 42% 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 6.9% 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
DTE Deutsche Telekom€29.642.0%
+€2.7b		9.2%PE11.2xTelecom
ALV Allianz€367.401.6%
+€2.2b		23.7%PE13.9xFinancials
MUV2 Münchener Rückversicherungs-Gesellschaft in München€565.002.4%
+€1.7b		13.0%PE14.2xFinancials
RWE RWE€40.423.0%
+€837.3m		28.1%PE11.7xUtilities
SIE Siemens€242.300.5%
+€820.0m		30.4%PE23.9xIndustrials
See more

Market Insights

Header cover image
📈 Markets Break Records: Q3 2025 in Review, Q4 Outlook Ahead
Richard Bowman avatar
Richard Bowman
|
|
Q4 2025 is off to a flying start with record highs being printed left, right, and center. US and Japanese stocks made fresh new highs, while the gold price powered through $4,000 for the first time, and Bitcoin crossed the $126k level. Is this all a case of USD weakness, irrational exuberance, or solid fundamentals? This week, we are reviewing Q3 market performance, Q2 earnings season, and the outlook heading into the end of 2025…
Continue reading
✨Rare Earths: Tiny Market, Outsized Influence
Last Week

✨Rare Earths: Tiny Market, Outsized Influence

Latest News

SIE
€242.30
Siemens
7D
0.5%
1Y
30.4%

Smart Infrastructure And Electrification Will Unlock Market Potential

Siemens' analyst fair value price target has increased modestly to €250.22 from €246.46. Analysts point to steady improvements in revenue growth and profit margin, despite mixed views on segment performance.
DTG
€34.38
Daimler Truck Holding
7D
-4.0%
1Y
-2.9%

Battery-electric And Hydrogen Trucks Will Capture Decarbonization Momentum

Narrative Update: Daimler Truck Holding Analysts have slightly reduced their average price target for Daimler Truck Holding, lowering it from EUR 44.12 to EUR 43.46. They cite a modest slowdown in revenue growth and a mild increase in discount rates as the reasons for this adjustment.
RWE
€40.42
RWE
7D
3.0%
1Y
28.1%

UK Policies And US Incentives Will Strengthen Renewables Despite Risks

Analysts have slightly raised their fair value estimate for RWE to €43.98. They cite adjustments in discount rates and revised assumptions for profit margins, despite a modest reduction in Street-wide price targets.
R3NK
€76.22
RENK Group
7D
-13.8%
1Y
314.7%

RENK Group (ETR:R3NK) Might Have The Makings Of A Multi-Bagger

Oct 08
RENK Group (ETR:R3NK) Might Have The Makings Of A Multi-Bagger
RHM
€1,882.00
Rheinmetall
7D
-4.1%
1Y
297.5%

Rising NATO And European Budgets Will Drive Production Integration

Rheinmetall's analyst price target has been modestly increased from €2,124 to €2,162, reflecting analysts' view that while the company benefits from robust defense sector demand and strong order visibility, elevated valuations call for a measured and selective outlook. Analyst Commentary Recent coverage initiations reflect a balanced view of Rheinmetall's position within the European defense sector, with analysts acknowledging both growth catalysts and valuation concerns.
BAS
€42.20
BASF
7D
-4.7%
1Y
-10.7%
DTE
€29.64
Deutsche Telekom
7D
2.0%
1Y
9.2%
BMW
€78.48
Bayerische Motoren Werke
7D
-9.2%
1Y
3.6%
MBG
€53.20
Mercedes-Benz Group
7D
-4.0%
1Y
-8.0%
HEI
€192.45
Heidelberg Materials
7D
2.3%
1Y
96.3%

Emerging Markets And Green Construction Will Create Long-Term Value

The slight increase in Heidelberg Materials' future P/E ratio despite a modest decline in expected revenue growth suggests improved market sentiment or confidence in profitability, leading to a higher consensus price target, which has risen from €195.16 to €200.62. What's in the News Heidelberg Materials is among the bidders for NCC AB's aggregates, asphalt, and paving business, currently valued at up to $1 billion, with the sale process advancing to the next round of bidding.
IFX
€32.02
Infineon Technologies
7D
-6.2%
1Y
5.3%

Estimating The Intrinsic Value Of Infineon Technologies AG (ETR:IFX)

Sep 17
Estimating The Intrinsic Value Of Infineon Technologies AG (ETR:IFX)
ALV
€367.40
Allianz
7D
1.6%
1Y
23.7%

Digital Transformation And Emerging Markets Will Drive Future Expansion

With both Allianz’s future P/E and discount rate effectively unchanged, analysts have made only a marginal upward revision to the fair value price target, now set at €363.11. What's in the News Allianz Life experienced a significant cyberattack in mid-July 2025, resulting in personal data theft affecting the majority of its customers, financial professionals, and some employees through a social engineering technique (TechCrunch).
TLX
€113.50
Talanx
7D
2.5%
1Y
50.2%

Future Growth May Face Challenges, But Diversification Could Provide Stability

Talanx’s valuation outlook remains stable, as both its Future P/E and Net Profit Margin showed negligible changes, resulting in the consensus analyst price target holding steady at €104.40. What's in the News Talanx AG announced a share repurchase program to buy back up to 400,000 shares (approximately 0.15% of issued share capital) for a total of €48 million, aiming to meet obligations related to its employee share option program.
MRK
€116.10
Merck KGaA
7D
-3.9%
1Y
-26.0%

Global Biotechnology And Digital Automation Will Drive Future Healthcare

Merck KGaA's consensus price target remains unchanged at €147.53 as analysts adopt a more neutral stance following disappointing Q2 results, lowered guidance, and reduced near-term growth visibility. Analyst Commentary Disappointing Q2 report and weaker-than-expected operational performance.
HNR1
€261.40
Hannover Rück
7D
1.7%
1Y
0.2%

Earnings Update: Hannover Rück SE (ETR:HNR1) Just Reported Its Second-Quarter Results And Analysts Are Updating Their Forecasts

Aug 15
Earnings Update: Hannover Rück SE (ETR:HNR1) Just Reported Its Second-Quarter Results And Analysts Are Updating Their Forecasts
MUV2
€565.00
Münchener Rückversicherungs-Gesellschaft in München
7D
2.4%
1Y
13.0%