The DAX has put an impressive Rally in recent years and reached new record brands. However, there are signs of a high rating on the market. But not all companies in the index are affected – some could continue to be attractive for investors.
• Dax in recent years with impressive rally
• High evaluation of the German leading index
• Some DAX companies are still undervalued
The German leading index Dax noted a year ago at around 18,000 points and has therefore been able to increase by more than a quarter in the past twelve months. He recently cracked the round mark of 23,000 points for the first time, but now he is now listing a little underneath. If you look at the development of the past three years, the DAX could even get more than 60 percent, within five years it is almost 150 percent.
However, since the profits of the companies have not risen as quickly at the same time, the DAX is currently as high as in the past twenty years according to Handelsblatt. However, a few DAX companies are currently undervalued and could be interesting for investors.
Bayer share
A share for which it has been significantly down in recent years is the Bayer share. It has lost almost 60 percent of value in the past three years and is currently currently listing 22.90 euros (closing price from 13.03.2025). With a price-earnings ratio (KGV) of 5.1, Bayer is “the cheapest great pharmaceutical act worldwide”, according to Handelsblatt. The evaluation discount compared to the 20-year average is 57 percent. The reason for the discount should above all be the claims for damages in billions of billions due to the weed destroyer glyphosate. According to Handelsblatt, however, the discount reflects many risks of the share. According to experts, the company would have to increase sales and profits in the agricultural division again so that the course could multiply again and get the legal risks under control with regard to glyphosate.
BMW share
The BMW share has increased by about 10 percent in the past three years (Xetra closing price 13.03,2025: 82.32 euros), but in the recent past it looks less rosy: in the past twelve months, the share has lost more than 20 percent of value. According to the Handelsblatt, the BMW share with a KGV of 6.2 comes to an evaluation discount of 28 percent compared to its 20-year average. Strain factors include the weakening demand in China and US customs policy under the new US President Donald Trump. Nevertheless, according to Handelsblatt, the company can score with a solid balance sheet and a long -term company policy.
Fresenius share
The Fresenius share has increased by around 25 percent in the past three years and is worth EUR 38.94 (Xetra closing price from 13.03.2025), within the past twelve months there is even an increase of more than 50 percent. Nevertheless, the share with a KGV of 11.6 is a fifth below its 20th average, as the Handelsblatt reports. The favorable evaluation is due to a greatly increased group gains – including good business in the medication division and at the helios clinic chain. The group renovation – with the split off of the dialysis subsidiary FMC and the exit from the service division VAMED – thus pay off.
FMC share
For the papers of the dialysis daughter Fresenius Medical Care (FMC) split off by Fresenius, the Xetra has been up to 42.76 euros in the past twelve months (closing price 13.03.2025). However, if you look at the development of the past three years, the FMC share has lost more than a quarter of value and is rated 35 percent lower with a KGV of 11.4 according to the Handelsblatt than in its 20-year average. The reason for this is rapidly increasing profit expectations, which in turn are due to an extensive austerity course, which is probably paid.
Porsche holding share
The Porsche Holding share has lost around 50 percent in the past three years or around 20 percent in the past twelve months (Xetra closing price 13.03,2025: 38.12 euros). In this decline in the price, distrust of the group’s renovation is reflected in the direction of electromobility and the associated risks for future profits. The Porsche Holding share with a KGV of 2.6 is the lowest rated share in the German leading index, as the Handelsblatt reports. One reason for the low assessment is that it is no voting rights shares – so shareholders have no influence on company policy. But even if the share is generally rated rather low, a clear discount of a good 50 percent is currently becoming clear compared to the 20th average.
VW share
In the meantime, the VW share via Xetra has shown a minus of six percent to 107.70 euros in the past twelve months (closing price from 13.03.2025), while the shareholders have lost almost 30 percent in the past three years. According to Handelsblatt, the clear price loss and still high profits in the double-digit billion dollar height ensure that the VW share with a KGV of 3.8 is the second cheapest stock in the DAX. In addition, the generally rather low assessment, as with the Porsche Holding, is also due to the fact that it is a matter of preferred shares – which offer a slightly higher and more reliable dividend, but are not entitled to speak.
Editor finance.net
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