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German (DAX) Machinery Industry Analysis

UpdatedJan 11, 2026
DataAggregated Company Financials
Companies51
  • 7D3.7%
  • 3M10.1%
  • 1Y22.5%
  • YTD3.7%

The Machinery industry is up 3.7% in the last week, with Daimler Truck Holding up 6.4%. In the last 12 months, the industry was up 23%. Earnings are forecast to grow by 21% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 11 Jan 2026€125.1b€161.7b€6.4b22x19.7x0.8x
Tue, 09 Dec 2025€116.8b€161.7b€6.4b21.1x18.1x0.7x
Thu, 06 Nov 2025€112.6b€162.9b€6.7b19.4x16.9x0.7x
Sat, 04 Oct 2025€118.1b€164.4b€7.1b21.1x16.7x0.7x
Mon, 01 Sep 2025€120.4b€164.5b€7.1b18.9x17x0.7x
Wed, 30 Jul 2025€123.4b€165.4b€7.8b19.3x15.9x0.7x
Fri, 27 Jun 2025€115.7b€165.7b€8.1b20.4x14.2x0.7x
Sun, 25 May 2025€116.5b€165.6b€8.1b17x14.4x0.7x
Tue, 22 Apr 2025€104.5b€168.0b€8.8b17.3x11.9x0.6x
Thu, 20 Mar 2025€122.8b€168.4b€8.8b18x14x0.7x
Sat, 15 Feb 2025€115.3b€169.3b€9.0b16.7x12.8x0.7x
Mon, 13 Jan 2025€102.5b€169.1b€9.0b17.4x11.4x0.6x
Wed, 11 Dec 2024€105.3b€169.1b€9.0b16x11.7x0.6x
Fri, 08 Nov 2024€106.8b€170.3b€9.4b14.9x11.3x0.6x
Sun, 06 Oct 2024€104.1b€169.7b€9.4b16.1x11.1x0.6x
Tue, 03 Sep 2024€103.4b€169.7b€9.4b15.2x11x0.6x
Thu, 01 Aug 2024€104.2b€170.3b€9.6b15.6x10.8x0.6x
Sat, 29 Jun 2024€105.4b€170.4b€9.7b15.9x10.9x0.6x
Mon, 27 May 2024€106.6b€164.2b€9.3b17.4x11.4x0.6x
Wed, 24 Apr 2024€115.3b€169.7b€9.6b16.9x12.1x0.7x
Fri, 22 Mar 2024€117.1b€168.3b€9.5b14.8x12.3x0.7x
Sun, 18 Feb 2024€95.9b€167.0b€8.9b11.7x10.8x0.6x
Tue, 16 Jan 2024€95.1b€171.2b€8.9b13.9x10.6x0.6x
Thu, 14 Dec 2023€92.0b€171.2b€8.9b13.2x10.3x0.5x
Sat, 11 Nov 2023€86.2b€170.8b€9.0b11.9x9.6x0.5x
Mon, 09 Oct 2023€91.5b€169.4b€8.1b11.8x11.3x0.5x
Wed, 06 Sep 2023€94.8b€169.4b€8.1b12.2x11.7x0.6x
Fri, 04 Aug 2023€97.0b€166.3b€8.0b12.6x12.2x0.6x
Sun, 02 Jul 2023€98.4b€163.6b€7.5b12.6x13.1x0.6x
Tue, 30 May 2023€92.6b€163.5b€7.5b14.1x12.3x0.6x
Thu, 27 Apr 2023€96.5b€156.5b€6.8b16.3x14.3x0.6x
Sat, 25 Mar 2023€91.9b€155.9b€6.7b16.3x13.7x0.6x
Mon, 20 Feb 2023€94.8b€148.3b€5.6b17.8x16.8x0.6x
Wed, 18 Jan 2023€91.3b€148.2b€5.6b17.5x16.2x0.6x
Price to Earnings Ratio

16.2x


Total Market Cap: €91.3bTotal Earnings: €5.6bTotal Revenue: €148.2bTotal Market Cap vs Earnings and Revenue0%0%0%
German Machinery Industry Price to Earnings3Y Average 13x202420252026
Current Industry PE
  • Investors are optimistic on the German Machinery industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 19.7x which is higher than its 3-year average PE of 13.0x.
  • The industry is trading close to its 3-year average PS ratio of 0.63x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have grown 4.0% per year over the last three years.
  • Revenues for these companies have grown 2.9% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

DE Market2.61%
Industrials5.85%
Machinery3.67%
Construction Machinery and Vehicles4.02%
Industrial Machinery2.85%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 22.2x.
    • Analysts are expecting annual earnings growth of 16.7%, which is higher than its past year's earnings decline of 15.5% per year.
  • Investors are most pessimistic about the Construction Machinery and Vehicles industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 10.7x.
Forecasted Growth
  • Analysts are most optimistic on the Construction Machinery and Vehicles industry, expecting annual earnings growth of 23% over the next 5 years.
  • This is better than its past earnings decline of 20% per year.
  • In contrast, the Industrial Machinery industry is expected to see its earnings grow by 17% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
DTG Daimler Truck Holding€39.916.4%
+€1.8b		4.4%PE13.8x
R3NK RENK Group€64.1815.5%
+€862.0m		202.8%PE63.3x
KBX Knorr-Bremse€98.852.9%
+€451.4m		42.5%PE36.6x
RAA RATIONAL€688.004.8%
+€358.2m		-15.8%PE30.7x
G1A GEA Group€59.553.7%
+€341.9m		22.0%PE23.4x

Latest News

DTG
€39.91
Daimler Truck Holding
7D
6.4%
1Y
4.4%
JST
€59.60
JOST Werke
7D
11.0%
1Y
33.2%

JST: Future Earnings Outlook And Equity Raise Will Support Upside Potential

Analysts have kept their fair value estimate for JOST Werke steady at €82.00. They have applied a slightly higher discount rate, lower revenue growth assumptions of 12.58%, and higher profit margin expectations of 7.58%, along with a reduced future P/E of 9.72x, feeding into this latest price target update.
KRN
€140.00
Krones
7D
2.9%
1Y
14.8%

KRN: Order Momentum And Management Confidence Will Shape Balanced Near Term Outlook

Narrative update on Krones Analysts have lifted their price target on Krones from €152 to €157, noting that a pick up in Q3 orders could continue into Q4 and that management’s confident tone on ongoing momentum supports the higher valuation assumptions. Analyst Commentary Recent commentary on Krones has focused on the order backdrop and how that feeds into expectations for execution and valuation over the next few quarters.
DEZ
€9.98
DEUTZ
7D
15.3%
1Y
143.9%
RAA
€688.00
RATIONAL
7D
4.8%
1Y
-15.8%

Investors Shouldn't Overlook RATIONAL's (ETR:RAA) Impressive Returns On Capital

Jan 08
Investors Shouldn't Overlook RATIONAL's (ETR:RAA) Impressive Returns On Capital
KGX
€67.70
KION GROUP
7D
-3.0%
1Y
104.1%

KGX: Fair Outlook Balances Automation And AI Adoption With Execution Risk

Analysts have slightly increased their fair value estimate for KION GROUP, raising the price target from €65 to €66 to reflect updated assumptions around discount rates, profit margins and future P/E. Analyst Commentary Recent research reflects a modestly higher conviction in KION GROUP, with the fair value estimate now at €66.
G1A
€59.55
GEA Group
7D
3.7%
1Y
22.0%

G1A: Confirmed 2025 Guidance Will Support Stronger Long Term Profit Margins

Analysts have kept their price target for GEA Group steady at €74.00. Their stance is supported by updated assumptions that show slightly adjusted revenue growth, profit margin expectations and future P/E multiples.
R3NK
€64.18
RENK Group
7D
15.5%
1Y
202.8%
HDD
€1.99
Heidelberger Druckmaschinen
7D
-2.9%
1Y
104.1%

HDD: European Autonomous Systems Partnership Will Support Longer Term Upside Potential

Analysts have lowered their fair value estimate for Heidelberger Druckmaschinen from €2.55 to €2.30, citing updated assumptions for revenue growth, profit margins, the discount rate, and a higher future P/E multiple. What's in the News Ondas Holdings and Heidelberger Druckmaschinen AG signed a memorandum of understanding to enter negotiations on joint engineering, manufacturing, and deployment projects across Europe, focused on autonomous systems (Key Developments).
KBX
€98.85
Knorr-Bremse
7D
2.9%
1Y
42.5%

KBX: Margin Discipline And Confirmed 2025 Guidance Will Support Upside Potential

We raise our Knorr-Bremse fair value estimate to EUR 108 from EUR 104. This reflects analysts' slightly lower but still constructive price targets, as well as expectations for modestly softer revenue growth offset by a firmer profit margin and a lower future valuation multiple.
WAC
€24.90
Wacker Neuson
7D
-0.2%
1Y
72.0%

WAC: Narrowed 2025 Guidance And Tariff Pressures Will Shape Balanced Future Prospects

Analysts have nudged their price target on Wacker Neuson slightly higher to €24.50, reflecting incremental improvements to the discount rate and long term valuation assumptions while leaving core growth and margin expectations broadly unchanged. What's in the News The Executive Board has narrowed 2025 revenue guidance to a range of EUR 2,150 million to EUR 2,250 million, tightening the previous outlook of EUR 2,100 million to EUR 2,300 million (company guidance).
HG1
€27.00
HOMAG Group
7D
-1.5%
1Y
-28.2%
MZX
€13.85
Masterflex
7D
-2.8%
1Y
47.3%
SNG
€1.41
Singulus Technologies
7D
-3.8%
1Y
6.0%
SKB
€10.70
Koenig & Bauer
7D
-0.9%
1Y
-34.4%
B1GR
€0.30
BigRep
7D
-60.0%
1Y
-80.6%