Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

German (DAX) Machinery Industry Analysis

UpdatedJul 13, 2026
DataAggregated Company Financials
Companies49
  • 7D-4.3%
  • 3M-3.9%
  • 1Y-2.1%
  • YTD-2.1%

Over the last 7 days, the Machinery industry has dropped 4.3%, driven by Daimler Truck Holding declining 4.2%. Meanwhile, NORMA Group actually outperformed within the industry, gaining 5.2% in the last week. As for the longer term, the industry's performance has been flat for the past year. Earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 14 Jul 2026€118.0b€153.7b€5.1b19.3x23.2x0.8x
Thu, 11 Jun 2026€114.9b€154.3b€5.1b19.9x22.8x0.7x
Sat, 09 May 2026€119.6b€154.4b€5.0b20.8x23.9x0.8x
Mon, 06 Apr 2026€120.9b€157.5b€5.8b19.2x21x0.8x
Wed, 04 Mar 2026€122.6b€161.7b€6.3b20.8x19.4x0.8x
Fri, 30 Jan 2026€123.7b€161.6b€6.3b21.6x19.5x0.8x
Sun, 28 Dec 2025€118.1b€161.7b€6.4b21.6x18.4x0.7x
Tue, 25 Nov 2025€112.4b€161.7b€6.4b20.3x17.4x0.7x
Thu, 23 Oct 2025€112.5b€164.4b€7.1b20.9x15.9x0.7x
Sat, 20 Sep 2025€117.4b€164.4b€7.1b19.4x16.6x0.7x
Mon, 18 Aug 2025€122.9b€164.5b€7.1b19.1x17.3x0.7x
Wed, 16 Jul 2025€121.4b€165.2b€8.1b19.7x14.9x0.7x
Fri, 13 Jun 2025€116.8b€165.7b€8.1b20.7x14.4x0.7x
Sun, 11 May 2025€115.2b€166.4b€8.2b18.8x14.1x0.7x
Tue, 08 Apr 2025€99.1b€168.0b€8.8b16.3x11.3x0.6x
Thu, 06 Mar 2025€122.9b€169.4b€9.0b17.1x13.7x0.7x
Sat, 01 Feb 2025€111.5b€169.2b€9.0b16.7x12.4x0.7x
Mon, 30 Dec 2024€102.3b€169.1b€9.0b17.1x11.4x0.6x
Wed, 27 Nov 2024€100.0b€169.1b€9.0b14.7x11.2x0.6x
Fri, 25 Oct 2024€106.4b€169.7b€9.4b15.7x11.3x0.6x
Sun, 22 Sep 2024€101.3b€169.7b€9.4b15.5x10.8x0.6x
Tue, 20 Aug 2024€102.4b€169.7b€9.4b15.3x10.9x0.6x
Thu, 18 Jul 2024€105.7b€170.4b€9.7b15.9x10.9x0.6x
Sat, 15 Jun 2024€104.8b€170.3b€9.7b16.1x10.8x0.6x
Mon, 13 May 2024€114.5b€170.3b€9.7b17.2x11.8x0.7x
Wed, 10 Apr 2024€117.7b€169.7b€9.6b16.2x12.3x0.7x
Fri, 08 Mar 2024€110.0b€168.3b€9.6b13.7x11.4x0.7x
Sun, 04 Feb 2024€98.4b€171.2b€8.9b14.1x11x0.6x
Tue, 02 Jan 2024€97.1b€171.2b€8.9b14x10.9x0.6x
Thu, 30 Nov 2023€89.1b€171.0b€9.0b13.1x9.9x0.5x
Sat, 28 Oct 2023€85.3b€170.3b€8.8b11.6x9.6x0.5x
Mon, 25 Sep 2023€93.2b€169.4b€8.1b12.4x11.5x0.6x
Wed, 23 Aug 2023€95.3b€169.3b€8.1b11.8x11.7x0.6x
Fri, 21 Jul 2023€96.6b€163.6b€7.5b12.8x12.8x0.6x
Price to Earnings Ratio

12.8x


Total Market Cap: €96.6bTotal Earnings: €7.5bTotal Revenue: €163.6bTotal Market Cap vs Earnings and Revenue0%0%0%
German Machinery Industry Price to Earnings3Y Average 14.2x202420252026
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 23.2x which is higher than its 3-year average PE of 14.2x.
  • 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 12% per year over the last three years,
  • Revenues have also declined 2.1% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

DE Market-2.61%
Industrials-5.57%
Machinery-4.28%
Industrial Machinery-3.46%
Construction Machinery and Vehicles-4.62%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 23.5x.
    • Analysts are expecting annual earnings growth of 15.5%, which is higher than its past year's earnings growth of 2.0% 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 12.0x.
Forecasted Growth
  • Analysts are most optimistic on the Construction Machinery and Vehicles industry, expecting annual earnings growth of 24% 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 15% 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
NOEJ NORMA Group€18.705.2%
+€29.3m		19.6%PS0.7x
MUB Mühlbauer Holding€38.801.0%
+€5.7m		-13.8%PE22.3x
DAR DATRON€8.4011.3%
+€3.4m		10.5%PS0.6x
HP3A Ringmetall€2.700.7%
+€581.4k		-16.7%PE20.8x
SCM SCHUMAG€0.004512.5%
+€4.5k		-93.0%n/a

Latest News

NOEJ
€18.70
NORMA Group
7D
5.2%
1Y
19.6%
Narrative Update • Jul 11

NOEJ: Margins And Muted 2026 Sales Outlook Will Likely Pressure Shares

Analysts have raised their price target on NORMA Group to €15.20 from €13.00, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E estimates. What's in the News NORMA Group SE confirmed its earnings guidance for financial year 2026, maintaining its existing outlook.
R3NK
€42.91
RENK Group
7D
-11.9%
1Y
-42.9%
Narrative Update • Jul 11

R3NK: Defence Acquisition And 2026 Revenue Outlook Will Support Bullish Thesis

Analysts have trimmed their price target for RENK Group to about €53.62 from roughly €56.24, linking the change to updated assumptions around discount rates, revenue growth, profit margins, and future P/E expectations. What’s in the News for RENK Group RENK Group AG, via its subsidiary RENK GmbH, agreed to acquire UK based David Brown Defence, a specialist in high precision gearboxes for naval and land defense sectors, from Stellex Capital Management, subject to regulatory approvals, with completion targeted for Q4 2026.
8TRA
€34.62
Traton
7D
-2.4%
1Y
18.1%
Narrative Update • Jul 10

8TRA: Margin Upside And Cash Generation Will Support Higher Future Earnings Multiples

Analysts have nudged their price expectations for Traton higher, reflected in a modest uptick in the fair value estimate alongside recent increases in Street targets. Barclays moved to €40 and Citi lifted its target by €4.70, supported by slightly revised assumptions for discount rate, revenue growth, profit margin, and future P/E.
KRN
€107.80
Krones
7D
-5.3%
1Y
-23.0%
Narrative Update • Jul 10

KRN: Central Price View Will Balance Upgraded Street Hopes And Execution Risks

Analysts have adjusted the central price target for Krones to €105.00 from €110.99, citing updated expectations for revenue growth, profit margins, discount rates and future P/E multiples in light of recent upward revisions to Street targets that range up to €180.00. Analyst Commentary Recent Street research on Krones has centered on recalibrating valuation frameworks, with several firms updating their price targets and assumptions around revenue growth, profitability, discount rates and future P/E multiples.
DTG
€42.07
Daimler Truck Holding
7D
-4.2%
1Y
4.4%
KGX
€40.34
KION GROUP
7D
-8.0%
1Y
-23.2%
Narrative Update • Jul 09

KGX: AI Automation And Cost Efficiency Program Will Drive Future Repricing Potential

The analyst fair value estimate for KION GROUP has moved from €71 to €76. The shift is supported by recent price target increases from several banks and a generally more positive stance from analysts, who see an attractive entry point in the warehouse automation business despite prior concerns around industrial production and cost inflation.
G1A
€59.55
GEA Group
7D
-5.0%
1Y
1.8%
Narrative Update • Jun 30

G1A: Rich Multiple Will Persist As 2030 Margin Ambitions Face Execution Risk

Analysts have trimmed their price target on GEA Group from €54.00 to about €51.57, as updated assumptions point to slightly softer revenue growth and a lower future P/E multiple, partly offset by a higher projected profit margin. What's in the News for GEA Group GEA Group Aktiengesellschaft has outlined a long term plan to reach more than €7b in annual revenue by 2030, with a target EBITDA margin range of 17% to 19% (source: recent company guidance).
KBX
€102.60
Knorr-Bremse
7D
-5.2%
1Y
22.9%
Narrative Update • Jun 30

KBX: Raised Fair Value Estimate And 2026 Guidance Confirmation Should Support Upside

Knorr-Bremse's updated analyst fair value estimate has moved from €129.0 to €133.0, supported by recent Street research that raised price targets to €108, €116 and €123 as analysts highlight the stock's pricing relative to their views on its quality. Analyst Commentary Recent Street research on Knorr-Bremse shows a cluster of higher fair value opinions, with price targets ranging from €108 to €123.
HDD
€1.39
Heidelberger Druckmaschinen
7D
0.4%
1Y
-4.2%
DAR
€8.40
DATRON
7D
11.3%
1Y
10.5%
RAA
€633.50
RATIONAL
7D
-5.7%
1Y
-10.8%
Narrative Update • Jun 17

RAA: Elevated Expectations And Dividend Payouts Will Pressure Medium Term Returns

RATIONAL’s consensus analyst price target has moved slightly higher to around €588, as analysts factor in RBC Capital’s higher target alongside recent rating changes and updated assumptions for discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Recent research on RATIONAL reflects a split view, with some analysts turning more constructive while others stay cautious on the stock’s valuation and execution risks.
HP3A
€2.70
Ringmetall
7D
0.7%
1Y
-16.7%
Narrative Update • Jun 16

HP3A: Confirmed 2026 Revenue Guidance Will Support Future Upside Potential

Analysts have maintained their fair value estimate for Ringmetall at €4.60. Changes to inputs such as the discount rate, revenue growth, profit margin and future P/E are described as minor refinements rather than a material shift in their outlook.
MUB
€38.80
Mühlbauer Holding
7D
1.0%
1Y
-13.8%
SCM
€0.0045
SCHUMAG
7D
12.5%
1Y
-93.0%