Friday 4 July 2014

All the companies on DAX 2014

DAX, the German 30 biggest companies

Finally I have once again managed to go over them all. Below is the list of all the companies, the link to their analysis and the P/E value that they had upon the day of analysis.
For the previous publication go to see all the companies on DAX which contains the condensed snapshot of the companies on DAX and their P/E values from last year and the links to their analysis.

As you can see I have once again made changes to the format of the blog. The last time I made changes it was due to colour schemes that took time to load and this time I have made the changes because I found the blog too clogged up and not very reader friendly.

As always I am open to any suggestion for improvements to improve your experience on this blog.

Here is the list:

adidas (analysis of Adidas 2014) - P/E: 20.6

ALLIANZ (analysis of Allianz 2014) - P/E: 9.3

BASF (analysis of BASF 2014) - P/E: 15.8

BAYER (analysis of Bayer 2014) - P/E: 26.9

BEIERSDORF (analysis of Beiersdorf 2014) - P/E: 34.9

BMW (analysis of BMW 2014) - P/E: 10.8

Commerzbank (analysis of Commerzbank 2014) - P/E: 189 (excluded)

CONTINENTAL (analysis of Continental 2014)- P/E: 17.1

DAIMLER (analysis of Daimler 2014) - P/E: 10.5

DT. BANK (analysis of DB 2014) - P/E: 49.1 (excluded)

DT. BÖRSE (analysis of Deutsche Börse 2014)- P/E: 22.1

DT. POST (analysis of Deutsche Post 2014) - P/E: 15.9

DT. TELEKOM (analysis of Deutsche Telekom 2014) - P/E: 58.9 (excluded)

E.ON (analysis of E.On. 2014) - P/E: 12.6 

FMC (analysis of FMC 2014) - P/E: 13.5

FRESENIUS (analysis of Fresenius 2014) - P/E: 19.6 

HEID. CEMENT (analysis of Heidelberg Cement 2014) - P/E: 16.2

HENKEL (analysis of Henkel 2014) - P/E: 23.5

INFINEON (analysis of Infineon 2014) - P/E: 37.9

K+S (analysis of K+S 2014) - P/E: 10.2

LANXESS (analysis of Lanxess 2014) - P/E: -28.9 (excluded)

LINDE (analysis of Linde 2014) - P/E: 22.0

LUFTHANSA (analysis of Lufthansa 2014) - P/E: 23.7

MERCK (analysis of Merck 2014) - P/E: 23.2

MÜNCH. RÜCK (analysis of MüRe 2014) - P/E: 8.3

RWE (analysis of RWE 2014) - P/E: -6.8 (excluded)

SAP (analysis of SAP 2014) - P/E: 21.0

SIEMENS (analysis of Siemens 2014) - P/E: 20.2

THYSSENKRUPP (analysis of ThyssenKrupp 2014) - P/E: -8.6 (excluded)

VOLKSWAGEN (analysis of VW 2014) - P/E: 9.9

The last time I went over all the companies in DAX I decided to only exclude three companies before calculating the average P/E value. This time the last has grown and I will now exclude six companies due to either direct losses or so close to losses that the P/E is abnormally high.

The average P/E for the remaining 24 companies are currently at 17.3 which is higher than the 16.5 we had last year and maybe worse it is higher than the historically DAX average of 16.9. So this simply means that DAX is currently overvalued in comparison to its historical data.

Personally I am not making any monthly investments in any cheap DAX index funds but if I did then I would probably have started to think about placing that money somewhere else for the time being. My own current plan is that I try to push more than 1,000 € into my stock portfolio per month (I hope to manage to push in 1,300 to 1,500) but I will however only continue to invest 1,000 € per month in low P/E companies so every euro above the 1,000 will be built up as cash.

Now that this is finally over I will go back to making some analysis of companies and I have a lot of requests that I need to go over before I start hunting for new targets on my own. I will also sort out my personalized index funds to make sure that I virtually buy and sell the companies according to the analysis that I have now made.

Conclusion: Germany and DAX start to be expensive even thought there are still individual companies with a fair valuation but there are also many with really bad earnings which means it starts to be time to be cautious.


Chris Bailey said...

Great effort to pull together such widespread analysis. Like the new updated website look. The 'easy blog search' widget particularly good.

Keep on going with the saving, augmentations to your portfolio and generalised learning.

This is a marathon and not a sprint.

Fredrik von Oberhausen said...

Thanks Chris!

At the moment it feels like an eternal cycle of analysis after analysis but I guess that partially comes from it getting mor eand more difficult to find cheap companies.

I will start to look at some of your suggestion soon... abb, oriflame etc.

Yeah one needs to keep the eye on the ball and that is 20 years from now for me!

I saw you found the valueandopportunity blog i think you guys can have a good cooperation. Both of you have an excellent eye for situations of odd market valuation.

Thanks for your comments i always appreciate your feedback!

Chris Bailey said...

Yes I found the valueandopportunity blog via your favourites list. Excellent site!