When Should You Buy Vonovia SE (ETR:VNA)?
Oct 26
German (DAX) Market Analysis & Valuation
UpdatedOct 30, 2023
DataAggregated Company Financials
Companies813
- 7D-1.1%
- 3M-11.6%
- 1Y2.3%
- YTD-2.6%
Over the last 7 days, the market has dropped 1.3%, driven by a pullback of 5.3% in the Consumer Discretionary sector. On the other hand, the Utilities has risen by 3.4%. Although the market performance has been flat over the past year. As for the next few years, earnings are expected to grow by 13% per annum.
Market Valuation and Performance
Has the German Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 31 Oct 2023 | €2.0t | €3.0t | €135.6b | 15.6x | 14.7x | 0.7x |
| Thu, 28 Sep 2023 | €2.1t | €3.0t | €132.4b | 15.8x | 15.8x | 0.7x |
| Sat, 26 Aug 2023 | €2.2t | €3.0t | €132.9b | 16.2x | 16.3x | 0.7x |
| Mon, 24 Jul 2023 | €2.2t | €3.0t | €134.7b | 16.9x | 16.5x | 0.7x |
| Wed, 21 Jun 2023 | €2.2t | €3.0t | €141.7b | 17.3x | 15.7x | 0.7x |
| Fri, 19 May 2023 | €2.2t | €3.0t | €138.4b | 17.4x | 15.9x | 0.7x |
| Sun, 16 Apr 2023 | €2.2t | €3.0t | €148.3b | 16.9x | 15.1x | 0.7x |
| Tue, 14 Mar 2023 | €2.1t | €2.9t | €154.3b | 15.5x | 13.7x | 0.7x |
| Thu, 09 Feb 2023 | €2.2t | €2.6t | €172.1b | 16x | 12.5x | 0.8x |
| Sat, 07 Jan 2023 | €2.0t | €2.6t | €172.9b | 16.1x | 11.7x | 0.8x |
| Mon, 05 Dec 2022 | €2.0t | €2.6t | €172.2b | 16.1x | 11.7x | 0.8x |
| Wed, 02 Nov 2022 | €1.9t | €2.5t | €170.9b | 15x | 11x | 0.7x |
| Fri, 30 Sep 2022 | €1.6t | €2.5t | €164.0b | 13.8x | 9.9x | 0.7x |
| Sun, 28 Aug 2022 | €1.8t | €2.5t | €163.4b | 15.5x | 11.1x | 0.7x |
| Tue, 26 Jul 2022 | €1.9t | €2.6t | €158.6b | 16.5x | 11.7x | 0.7x |
| Thu, 23 Jun 2022 | €1.9t | €2.6t | €159.3b | 16.3x | 11.7x | 0.7x |
| Sat, 21 May 2022 | €2.0t | €2.6t | €160.3b | 17.3x | 12.5x | 0.8x |
| Mon, 18 Apr 2022 | €2.1t | €2.5t | €143.4b | 18.9x | 14.6x | 0.8x |
| Wed, 16 Mar 2022 | €2.1t | €2.4t | €145.8b | 18.6x | 14.3x | 0.9x |
| Fri, 11 Feb 2022 | €2.3t | €2.4t | €142.0b | 20.5x | 16.2x | 1x |
| Sun, 09 Jan 2022 | €2.4t | €2.3t | €141.3b | 21.3x | 16.9x | 1x |
| Tue, 07 Dec 2021 | €2.3t | €2.3t | €141.2b | 20.3x | 16.3x | 1x |
| Thu, 04 Nov 2021 | €2.4t | €2.3t | €116.9b | 22.9x | 20.7x | 1.1x |
| Sat, 02 Oct 2021 | €2.3t | €2.2t | €114.6b | 22.3x | 20.1x | 1x |
| Mon, 30 Aug 2021 | €2.4t | €2.2t | €115.3b | 22.3x | 20.7x | 1.1x |
| Tue, 06 Jul 2021 | €2.3t | €2.2t | €115.3b | 21.6x | 20x | 1x |
| Fri, 09 Apr 2021 | €2.2t | €2.2t | €65.0b | 23.1x | 34.4x | 1x |
| Thu, 31 Dec 2020 | €2.0t | €2.1t | €43.1b | 22.9x | 46.6x | 1x |
Price to Earnings Ratio
78.8x
Current Market PE
- Investors are pessimistic on the German market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 14.7x which is lower than its 3-year average PE of 21.5x.
Past Earnings Growth
- The earnings for German listed companies have grown 85% per year over the last three years.
- Revenues for these companies have grown 13% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Sector Trends
Which sectors have driven the changes within the German Market?
| DE Market | -1.13% | |
| Utilities | 5.03% | |
| Materials | 1.90% | |
| Financials | 1.53% | |
| Real Estate | 0.98% | |
| Telecom | 0.64% | |
| Consumer Staples | -0.24% | |
| Tech | -0.41% | |
| Industrials | -2.86% | |
| Healthcare | -3.16% | |
| Consumer Discretionary | -4.77% | |
| Energy | -7.43% | |
Sector PE
- Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 11.0x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 30.7% which is higher than its past year's earnings decline of 14.9% per year.
Forecasted Growth
- Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 93% over the next 5 years.
- This is better than its past earnings decline of 26% per year.
- In contrast, the Utilities sector is expected to see its earnings decline by 23% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| UN01 Uniper | €4.42 | 12.6% +€4.1b | 45.8% | PE5.3x | Utilities | |
| SAP SAP | €125.60 | 1.4% +€1.9b | 28.6% | PE72.8x | Tech | |
| DBK Deutsche Bank | €10.41 | 8.3% +€1.6b | 7.7% | PE4.3x | Financials | |
| DTE Deutsche Telekom | €20.48 | 1.4% +€1.4b | 6.8% | PE18.3x | Telecom | |
| RWE RWE | €35.80 | 5.3% +€1.3b | -8.2% | PE10.1x | Utilities |
Market Insights
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