The subject of this paper is the analysis of multi-factor models at the German stock market, based on the latest stock market data. The focal point is the question in how far the Capital Asset Pricing Model-compatible single-factor model, the three-factor model developed by Fama and French, as well as Carhart’s four-factor model can serve as empirical explanatory contributions after the financial crisis of 2007 and 2008. The collected findings suggest that even after the crisis, Carhart’s model will continue to have strong empirical explanatory power for the cross section of German stock returns in the evaluation period. Moreover, it becomes apparent that the requirements of an equilibrium model might still be met.