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German (DAX) Machinery Industry Analysis

UpdatedJun 12, 2026
DataAggregated Company Financials
Companies49
  • 7D-3.2%
  • 3M-5.1%
  • 1Y-2.1%
  • YTD-5.1%

Over the last 7 days, the Machinery industry has dropped 3.2%, driven by declines in Daimler Truck Holding and Traton of 2.7% and 4.6%, respectively. As for the longer term, the industry's performance has been flat for the past year. Looking forward, earnings are forecast to grow by 25% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 12 Jun 2026€114.4b€154.3b€5.1b20x22.7x0.7x
Sun, 10 May 2026€119.6b€154.4b€5.0b20.8x23.9x0.8x
Tue, 07 Apr 2026€120.9b€157.5b€5.8b19.2x21x0.8x
Thu, 05 Mar 2026€125.6b€161.7b€6.3b21.2x19.8x0.8x
Sat, 31 Jan 2026€124.1b€161.6b€6.3b21.5x19.6x0.8x
Mon, 29 Dec 2025€118.1b€161.7b€6.4b21.6x18.4x0.7x
Wed, 26 Nov 2025€114.4b€161.7b€6.4b20.7x17.8x0.7x
Fri, 24 Oct 2025€112.5b€164.4b€7.1b20.9x15.9x0.7x
Sun, 21 Sep 2025€117.4b€164.4b€7.1b19.4x16.6x0.7x
Tue, 19 Aug 2025€121.8b€164.5b€7.1b19x17.1x0.7x
Thu, 17 Jul 2025€120.0b€165.2b€8.1b19.6x14.7x0.7x
Sat, 14 Jun 2025€115.9b€165.7b€8.1b20.7x14.2x0.7x
Mon, 12 May 2025€115.2b€166.3b€8.1b19x14.1x0.7x
Wed, 09 Apr 2025€100.3b€168.0b€8.8b16.3x11.5x0.6x
Fri, 07 Mar 2025€126.5b€169.4b€9.0b17.1x14.1x0.7x
Sun, 02 Feb 2025€111.5b€169.2b€9.0b16.7x12.4x0.7x
Tue, 31 Dec 2024€102.0b€169.1b€9.0b17.2x11.4x0.6x
Thu, 28 Nov 2024€100.5b€169.1b€9.0b14.9x11.2x0.6x
Sat, 26 Oct 2024€108.6b€169.7b€9.4b15.7x11.6x0.6x
Mon, 23 Sep 2024€101.3b€169.7b€9.4b15.5x10.8x0.6x
Wed, 21 Aug 2024€101.6b€169.7b€9.4b15.1x10.8x0.6x
Fri, 19 Jul 2024€107.4b€170.4b€9.7b16.1x11.1x0.6x
Sun, 16 Jun 2024€104.8b€170.3b€9.7b16.1x10.8x0.6x
Tue, 14 May 2024€113.9b€170.3b€9.7b17.3x11.7x0.7x
Thu, 11 Apr 2024€118.0b€169.7b€9.6b16.6x12.3x0.7x
Sat, 09 Mar 2024€110.4b€168.3b€9.6b13.9x11.5x0.7x
Mon, 05 Feb 2024€98.4b€171.2b€8.9b14.1x11x0.6x
Wed, 03 Jan 2024€97.0b€171.2b€8.9b14.1x10.8x0.6x
Fri, 01 Dec 2023€88.7b€171.0b€9.0b13x9.9x0.5x
Sun, 29 Oct 2023€85.3b€170.3b€9.0b11.6x9.4x0.5x
Tue, 26 Sep 2023€93.2b€169.4b€8.1b12.4x11.5x0.6x
Thu, 24 Aug 2023€95.1b€169.3b€8.1b12x11.7x0.6x
Sat, 22 Jul 2023€96.8b€163.6b€7.5b12.8x12.8x0.6x
Mon, 19 Jun 2023€97.6b€163.6b€7.6b14.8x12.9x0.6x
Price to Earnings Ratio

12.9x


Total Market Cap: €97.6bTotal Earnings: €7.6bTotal Revenue: €163.6bTotal Market Cap vs Earnings and Revenue0%0%0%
German Machinery Industry Price to Earnings3Y Average 13.9x202420252026
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 22.7x which is higher than its 3-year average PE of 13.9x.
  • The industry is trading close to its 3-year average PS ratio of 0.66x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have declined 13% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

DE Market-2.98%
Industrials-3.60%
Machinery-3.19%
Industrial Machinery-1.11%
Construction Machinery and Vehicles-4.04%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 23.2x.
    • Analysts are expecting annual earnings growth of 16.2%, which is higher than its past year's earnings growth of 1.8% 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 11.7x.
Forecasted Growth
  • Analysts are most optimistic on the Construction Machinery and Vehicles industry, expecting annual earnings growth of 27% 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 16% 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
G1A GEA Group€54.651.6%
+€138.4m		-7.8%PE21.3x
HDD Heidelberger Druckmaschinen€1.539.4%
+€39.9m		-7.3%PE31x
PFV Pfeiffer Vacuum Technology€168.601.0%
+€15.8m		3.9%PE27.5x
CA1 Circus€6.558.1%
+€13.0m		-53.9%PS199x
AAG Aumann€14.904.6%
+€8.4m		15.5%PE14x

Latest News

HDD
€1.53
Heidelberger Druckmaschinen
7D
9.4%
1Y
-7.3%
DTG
€40.76
Daimler Truck Holding
7D
-2.7%
1Y
7.7%
KGX
€36.08
KION GROUP
7D
-11.8%
1Y
-16.7%
Narrative Update • Jun 10

KGX: AI Warehouse Automation Will Recast Execution Risks Under Rising Required Returns

KION GROUP's updated analyst price target of €60.00, down from €61.87, reflects a mix of recent target cuts and fresh Buy ratings as analysts reassess fair value using slightly higher discount rates, modestly adjusted growth and margin expectations, and a lower future P/E assumption. Analyst Commentary Recent Street research on KION GROUP shows a mix of higher conviction Buy calls and trimmed price targets, with analysts recalibrating fair value rather than radically changing their views on the business.
8TRA
€33.02
Traton
7D
-4.6%
1Y
14.7%
HP3A
€2.74
Ringmetall
7D
1.5%
1Y
-15.4%
AAG
€14.90
Aumann
7D
4.6%
1Y
15.5%
Narrative Update • Jun 09

AAG: Future Revenue Guidance And Dividend Outlook Will Frame Balanced Prospects

Analysts have raised their price target for Aumann from €10.60 to €13.70, citing updated assumptions on revenue growth, profit margins, the discount rate and future P/E levels. What's in the News Aumann reaffirmed its earnings guidance for the 2026 financial year and continues to expect revenue of around €160 million.
TTR1
€31.35
technotrans
7D
3.6%
1Y
44.5%
Narrative Update • Jun 06

TTR1: Data Centre And Rail Orders Will Underpin 2026 Earnings Quality

Analysts have kept their €36.00 price target for technotrans unchanged, citing slightly adjusted assumptions for discount rate, revenue growth, profit margin, and a higher future P/E multiple as the key factors behind the reaffirmed view. What's in the News Board of Management confirms 2026 guidance, with consolidated revenue expected between €240 million and €260 million and an EBIT margin of 6.5% to 8.5%.
R3NK
€48.63
RENK Group
7D
-5.1%
1Y
-31.4%
PFV
€168.60
Pfeiffer Vacuum Technology
7D
1.0%
1Y
3.9%
DEZ
€8.90
DEUTZ
7D
-8.5%
1Y
25.3%
Narrative Update • Jun 04

DEZ: Index Inclusion And Energy Expansion Will Support Future Share Repricing

Analysts have raised their price target on DEUTZ by €1.10 to €14.00, citing updated assumptions on fair value, discount rate, growth, margins and future P/E that are in line with recent Street research. What's in the News Q1 2026 results: DEUTZ reported order intake up 41.2% and revenue up 8.4%, with an adjusted EBIT margin of 7.0%, supported by a transition to a new five division structure and its Future Fit cost saving programme.
KRN
€108.80
Krones
7D
-4.9%
1Y
-22.5%
RAA
€640.50
RATIONAL
7D
-1.9%
1Y
-11.1%
Narrative Update • Jun 02

RAA: Balanced Rating Shifts And Dividend Plans Will Shape Medium Term Outlook

RATIONAL’s analyst price target has been adjusted by €27 overall. This reflects updated views on the stock after mixed target changes and ratings moves from several research houses, with analysts pointing to refined assumptions on growth, margins and future P/E.
CA1
€6.55
Circus
7D
8.1%
1Y
-53.9%
G1A
€54.65
GEA Group
7D
1.6%
1Y
-7.8%
Narrative Update • Jun 02

G1A: Rising Dividend Stream Will Support Stronger Long Term Margins

Analysts have kept their GEA Group price target steady at €78.00. They point to only very small tweaks in discount rate, revenue growth, profit margin and future P/E assumptions rather than any major shift in the core outlook.
KBX
€97.60
Knorr-Bremse
7D
-2.5%
1Y
14.1%
Narrative Update • Jun 01

KBX: Strong 2026 Cycle Execution And Q1 Performance Should Support Upside

Knorr-Bremse's analyst fair value estimate has been lifted from €125 to €129, as analysts point to recent price target increases from several banks and describe the stock as inexpensive for a high-quality capital goods company. Analyst Commentary Recent Street research has tilted more positive on Knorr-Bremse, with several bullish analysts lifting fair value estimates and price targets.
SF3
€3.30
STS Group
7D
6.5%
1Y
7.8%