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Business Development munich business
Business Development munich business
Business Development munich business
Munich as a business location

DAX-listed companies in Munich

Here you can find details of the Munich companies that are currently listed in the German stock indexes DAX40, MDAX, SDAX and TecDAX.
As of: March 2024

Munich companies on the German stock market

DAX-40 companies

MDAX companies

SDAX companies

TecDAX companies

Munich as leading investment center

Seven DAX-listed companies are based in Munich and the surrounding region, more than in any other German city. Munich is also home to numerous companies in the MDAX, SDAX, and especially TecDAX stock indexes.

The many renowned companies and broad mix of market leaders in different sectors is a major reason why Munich’s economy has proved particularly resilient even in challenging times.

Munich companies in the four German stock indexes

The Deutsche Aktienindex (DAX) is Germany’s most important stock index. It consists of the country’s 40 largest companies in terms of order book volume and market capitalization that are trading on the Frankfurt Stock Exchange.

Nine of the 40 DAX-listed companies have their headquarters in Bavaria, and seven of these are in Munich and the surrounding region:

  • Allianz SE (Munich)
  • BMW AG (Munich)
  • Infineon Technologies AG (Neubiberg)
  • MTU Aero Engines AG (Munich)
  • Munich Re AG (Munich)
  • Siemens AG (Munich)
  • Siemens Energy AG (Munich)

These companies make Munich the leading DAX city, ahead of Stuttgart (4), Düsseldorf (3), Frankfurt am Main, Bonn and Leverkusen (each of which have 2).

The MDAX lists the 50 companies that rank in size immediately below those included in the DAX index. Company size is calculated based on a combination of order book volume and market capitalization.

Nine of Bavaria’s twelve MDAX companies have their headquarters in Munich and the surrounding region:

  • CTS Eventim AG (Munich)
  • Hensoldt AG (Taufkirchen)
  • Knorr-Bremse AG (Munich)
  • Nemetschek SE (Munich)
  • Rational AG (Landsberg am Lech)
  • Scout24 AG (Munich)
  • Siltronic AG (Munich)
  • Sixt SE (Pullach)
  • Wacker Chemie AG (Munich)

This places Munich ahead of Hamburg (6), Düsseldorf, Cologne, and Essen (all of which have 3).

The SDAX is a stock market index composed of 70 small and medium-sized companies that rank directly below the MDAX shares in terms of order book volume and market capitalization.

17 of Germany’s SDAX companies come from Bavaria, and 15 of these companies have their headquarters in the Greater Munich Area:

  • ADVA Optical Networking (Martinsried)
  • Atoss Software AG (Munich)
  • BayWa AG (Munich)
  • CANCOM SE (Munich)
  • Dermapharm AG (Grünwald)
  • Deutsche Pfandbriefbank AG (Unterschleißheim)
  • Morphosys AG (Planegg)
  • Mutares SE & Co. KGaA (Munich)
  • Nagarro SE (Munich)
  • ProSiebenSat.1 Media SE (Unterföhring)
  • SFC Energy (Brunnthal)
  • Süss MicroTec SE (Garching)
  • SYNLAB AG (Munich)
  • TRATON SE (Munich)
  • Wacker Neuson SE (Munich)

Munich is also Germany’s leading city when it comes to the SDAX, ahead of Frankfurt am Main, Berlin, and Dortmund (each of which have 4), and Stuttgart (3).

The TecDAX tracks the performance of the 30 largest German companies from the technology sector.

Following a regulation change in 2018, tech companies can be listed in both the TecDAX and the DAX40, MDAX or SDAX.

Eight companies from Munich and the surrounding region are currently listed in the TecDAX:

  • Atoss Software AG (Munich)
  • CANCOM SE (Munich)
  • Hensoldt AG (Taufkirchen)
  • Infineon Technologies AG (Neubiberg)
  • MorphoSys AG (Planegg)
  • Nagarro SE (Munich)
  • Nemetschek SE (Munich)
  • Siltronic AG (Munich)

These results reflect the strength of the ICT and biotech sectors in Munich. In comparison, cities including Hamburg, Jena, Montabaur each have 2 TecDAX companies.