Canadian (TSX) Machinery Industry Analysis

Industry Valuation and Performance

Has the Canadian Machinery Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 17 Jun 2026	CA$9.7b	CA$11.0b	-CA$107,609,298.58	24.1x	-89.8x	0.9x
Fri, 15 May 2026	CA$9.9b	CA$10.7b	-CA$173,931,133.59	52.4x	-57.1x	0.9x
Sun, 12 Apr 2026	CA$9.6b	CA$11.1b	-CA$176,301,903.39	40.2x	-54.7x	0.9x
Tue, 10 Mar 2026	CA$8.9b	CA$10.7b	-CA$358,321,799.64	52.3x	-24.7x	0.8x
Thu, 05 Feb 2026	CA$8.8b	CA$10.7b	-CA$367,371,169.01	58.9x	-23.8x	0.8x
Sat, 03 Jan 2026	CA$8.2b	CA$10.6b	-CA$459,339,047.16	20.8x	-17.9x	0.8x
Mon, 01 Dec 2025	CA$7.9b	CA$10.8b	-CA$457,962,754.19	24.2x	-17.3x	0.7x
Wed, 29 Oct 2025	CA$8.4b	CA$10.5b	-CA$322,376,188.75	28.7x	-26.2x	0.8x
Fri, 26 Sep 2025	CA$8.7b	CA$10.5b	-CA$322,870,013.77	26.8x	-26.9x	0.8x
Sun, 24 Aug 2025	CA$9.1b	CA$10.4b	-CA$319,250,064.73	27.9x	-28.4x	0.9x
Tue, 22 Jul 2025	CA$9.5b	CA$10.3b	-CA$137,739,629.97	43.6x	-69.2x	0.9x
Thu, 19 Jun 2025	CA$8.9b	CA$10.3b	-CA$165,348,240.35	35.3x	-53.7x	0.9x
Sat, 17 May 2025	CA$8.5b	CA$10.8b	-CA$26,002,977.05	28.5x	-326.9x	0.8x
Mon, 14 Apr 2025	CA$7.0b	CA$10.6b	-CA$43,530,823.32	23.2x	-161.8x	0.7x
Wed, 12 Mar 2025	CA$7.8b	CA$11.0b	-CA$84,782,478.62	30.9x	-91.5x	0.7x
Fri, 07 Feb 2025	CA$8.4b	CA$11.2b	-CA$230,218,284.14	31x	-36.3x	0.7x
Sun, 05 Jan 2025	CA$9.3b	CA$11.4b	-CA$157,285,886.56	32.9x	-59.1x	0.8x
Tue, 03 Dec 2024	CA$9.7b	CA$11.3b	-CA$148,954,948.34	33.8x	-64.9x	0.9x
Thu, 31 Oct 2024	CA$9.6b	CA$11.4b	-CA$117,496,127.83	30.3x	-81.8x	0.8x
Sat, 28 Sep 2024	CA$9.9b	CA$11.3b	-CA$109,327,958.34	33.5x	-90.1x	0.9x
Mon, 26 Aug 2024	CA$9.3b	CA$11.3b	-CA$108,579,620.66	24x	-85.8x	0.8x
Wed, 24 Jul 2024	CA$9.7b	CA$11.2b	-CA$168,988,709.65	23.8x	-57.7x	0.9x
Fri, 21 Jun 2024	CA$9.4b	CA$11.2b	-CA$168,280,175.95	20.2x	-56.2x	0.8x
Sun, 19 May 2024	CA$9.8b	CA$11.1b	-CA$165,154,918.96	24x	-59.6x	0.9x
Tue, 16 Apr 2024	CA$8.9b	CA$10.9b	-CA$277,976,021.95	23.5x	-32.1x	0.8x
Thu, 14 Mar 2024	CA$9.9b	CA$10.8b	-CA$255,328,731.72	22x	-38.7x	0.9x
Sat, 10 Feb 2024	CA$10.5b	CA$10.6b	-CA$479,471,541.37	23.7x	-21.8x	1x
Mon, 08 Jan 2024	CA$10.9b	CA$10.9b	-CA$548,947,597.00	26.9x	-19.9x	1x
Wed, 06 Dec 2023	CA$11.0b	CA$11.0b	-CA$563,880,775.00	23x	-19.6x	1x
Fri, 03 Nov 2023	CA$9.7b	CA$10.5b	-CA$613,799,849.00	18.8x	-15.9x	0.9x
Sun, 01 Oct 2023	CA$11.2b	CA$10.5b	-CA$610,554,878.00	20.9x	-18.4x	1.1x
Tue, 29 Aug 2023	CA$11.1b	CA$10.5b	-CA$602,945,918.00	18.9x	-18.4x	1.1x
Thu, 27 Jul 2023	CA$11.5b	CA$9.8b	-CA$591,876,505.00	25.1x	-19.4x	1.2x
Sat, 24 Jun 2023	CA$11.0b	CA$9.7b	-CA$594,269,444.00	24.1x	-18.5x	1.1x

Current Industry PE

Investors are relatively neutral on the Canadian Machinery industry at the moment, indicating that they anticipate long term growth rates to remain steady.

The industry is trading close to its 3-year average PS ratio of 0.88x.

Past Earnings Growth

The earnings for companies in the Machinery industry have improved over the last three years.
Revenues for these companies have grown 4.0% per year.
This means that more sales are being generated by these companies overall, and subsequently losses are decreasing too.

Industry Trends

Which industries have driven the changes within the Canadian Industrials industry?


CA Market	2.59%
Industrials	-0.73%
Machinery	0.35%
Industrial Machinery	0.81%
Construction Machinery and Vehicles	0.20%
Agricultural Machinery	-5.80%

Industry PE

Investors are most optimistic about the Industrial Machinery industry even though it's trading below its 3-year average PE ratio of 123x.

Analysts are expecting annual earnings growth of 34.4%, which is lower than the prior year's growth of 60.0% per year.

Forecasted Growth

Analysts are most optimistic on the Agricultural Machinery industry, expecting annual earnings growth of 99% over the next 5 years.

In contrast, the Industrial Machinery industry is expected to see its earnings grow by 34% 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
ATS ATS	CA$39.19	2.5% +CA$94.2m	-6.8%	PE53.7x
NFI NFI Group	CA$23.09	0.2% +CA$4.8m	45.2%	PS0.5x
CSX Clean Seed Capital Group	CA$0.085	41.7% +CA$3.1m	n/a	PE-5.1x
VLN Velan	CA$16.00	0.9% +CA$3.0m	14.1%	PE16.1x
TMG Thermal Energy International	CA$0.15	3.3% +CA$854.8k	10.7%	PE21.3x

Birch Hill Equity Partners Management Inc. completed the acquisition of 72.10% stake in Velan Inc. (TSX:VLN) from Velan Holding Co. Ltd.

Birch Hill Equity Partners Management Inc. agreed to acquire 72.10% stake in Velan Inc. (TSX:VLN) from Velan Holding Co. Ltd. for approximately CAD 200 million on January 14, 2026. A cash consideration of CAD 203.92 million valued at CAD 13.1 per share will be paid by Birch Hill Equity Partners Management Inc. Pursuant to a pre-closing reorganization, Velan Holding will, among other things, convert 2,290,075 multiple voting shares into the same number of subordinate voting shares. Therefore, giving effect to such pre-closing reorganization, 13,276,492 multiple voting shares and 2,290,076 subordinate voting shares will be sold to Birch Hill on closing of the VH Transaction (representing approximately 72.1% of the Company’s outstanding shares and 91.9% of its aggregate voting rights). The transaction is expected to close in the first half of 2026, subject to the receipt of the required regulatory approvals, execution of ancillary agreements, assistance in effecting the resignations of the members of the Board, and other customary closing conditions. The completion of the transaction is not subject to any financing condition or approval by the Company's shareholders. National Bank Financial, Inc. acted as financial advisor and Sebastien Roy and Amélie Doyon of Davies Ward Phillips & Vineberg LLP acted as legal advisor for Velan Inc. McCarthy Tétrault LLP acted as legal advisor for Velan Holding Co. Ltd. TD Securities, Inc. acted as financial advisor and Mike Devereux and Daniel Borlack of Stikeman Elliott LLP acted as legal advisor for Birch Hill Equity Partners Management Inc. Stephen J. Kelly and Alexandra Persaud of Norton Rose Fulbright Canada LLP is acting as legal advisor to the Special Committee. Birch Hill Equity Partners Management Inc. completed the acquisition of 72.10% stake in Velan Inc. (TSX:VLN) from Velan Holding Co. Ltd. on June 15, 2026. As part of a pre-closing reorganization, Velan Holding converted 2,290,075 of its multiple voting shares into an equal number of subordinate voting shares. Accordingly, upon completion of the VH Transaction, Birch Hill acquired 13,276,492 multiple voting shares and 2,290,076 subordinate voting shares, representing approximately 72.1% of the Company’s outstanding shares and 91.9% of its aggregate voting rights. In connection with the VH Transaction, Ivan Velan, Peter Velan, Robert Velan and Thomas C. Velan resigned from the Board. They were replaced by Birch Hill nominees Patrick Duncan, Shauna Gamble and Joshua Lundy, with Mr. Duncan being appointed Chair of the Board and Ms. Gamble serving as an independent director. Suzanne Blanchet, Daniel Desjardins and Edward Kernaghan continue to serve as independent directors, and Mr. Desjardins was appointed Lead Director. Jim Mannebach will continue to serve on the Board as a Birch Hill nominee. The Company also announced certain changes to its executive leadership. Jim Mannebach retired as Chief Executive Officer and stepped down as Chair of the Board. Rishi Sharma was appointed President and Chief Executive Officer, and Imran Gibbons was appointed Chief Financial Officer.

Canadian (TSX) Machinery Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Birch Hill Equity Partners Management Inc. completed the acquisition of 72.10% stake in Velan Inc. (TSX:VLN) from Velan Holding Co. Ltd.

Clean Seed Capital Group Ltd Receives U.S. Patent Allowance for Residue Management Technology

Executive Chairman of the Board recently sold CA$2.8m worth of stock

Next Hydrogen Solutions Inc. Appoints Jeff Hauswrith as Director

Insufficient new directors

CEO & Director recently bought CA$346k worth of stock

NFI: Operational Turnaround And Bus Orders Will Support Future Margin Expansion

New major risk - Revenue and earnings growth

Ag Growth International Inc. Approves Board Appointments, Effective June 4, 2026

New major risk - Earnings quality

Sharc International Systems Inc. announced that it has received CAD 2.5 million in funding

When Should You Buy California Nanotechnologies Corp. (CVE:CNO)?

New minor risk - Shareholder dilution

New major risk - Financial position

Westport Fuel Systems Inc. to Report Q1, 2026 Results on May 14, 2026

Third quarter 2026 earnings released: EPS: CA$0.002 (vs CA$0.002 loss in 3Q 2025)