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German (DAX) Machinery Industry Analysis

UpdatedApr 01, 2026
DataAggregated Company Financials
Companies52
  • 7D-0.2%
  • 3M-2.3%
  • 1Y3.7%
  • YTD-3.2%

Over the last 7 days, the Machinery industry has dropped 1.6%, driven by a pullback from KSB SE KGaA of 17%. As for the longer term, the industry's performance has been flat for the past year. As for the next few years, earnings are expected to grow by 20% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 01 Apr 2026€118.8b€157.9b€5.8b19.4x20.4x0.8x
Fri, 27 Feb 2026€130.1b€161.7b€6.4b21.4x20.4x0.8x
Sun, 25 Jan 2026€125.3b€161.7b€6.4b20.8x19.7x0.8x
Tue, 23 Dec 2025€118.8b€161.7b€6.4b21.3x18.5x0.7x
Thu, 20 Nov 2025€112.3b€161.6b€6.6b19.7x17.1x0.7x
Sat, 18 Oct 2025€109.9b€164.4b€7.1b20.9x15.5x0.7x
Mon, 15 Sep 2025€119.0b€164.4b€7.1b19.3x16.8x0.7x
Wed, 13 Aug 2025€123.1b€164.3b€7.1b18.6x17.4x0.7x
Fri, 11 Jul 2025€124.5b€165.2b€8.1b19.9x15.3x0.8x
Sun, 08 Jun 2025€118.8b€165.7b€8.1b20.9x14.6x0.7x
Tue, 06 May 2025€113.0b€166.4b€8.1b19.5x13.9x0.7x
Thu, 03 Apr 2025€112.2b€168.0b€8.8b16.8x12.8x0.7x
Sat, 01 Mar 2025€117.7b€169.4b€9.0b16.5x13.1x0.7x
Mon, 27 Jan 2025€107.0b€169.1b€9.0b17.5x11.9x0.6x
Wed, 25 Dec 2024€101.4b€169.1b€9.0b16.5x11.3x0.6x
Fri, 22 Nov 2024€101.8b€169.1b€9.0b14.6x11.4x0.6x
Sun, 20 Oct 2024€107.9b€169.7b€9.4b16x11.5x0.6x
Tue, 17 Sep 2024€98.5b€169.7b€9.4b15.1x10.5x0.6x
Thu, 15 Aug 2024€100.0b€169.8b€9.4b15x10.6x0.6x
Sat, 13 Jul 2024€107.6b€170.4b€9.7b15.9x11.1x0.6x
Mon, 10 Jun 2024€109.3b€170.3b€9.7b16.5x11.3x0.6x
Wed, 08 May 2024€112.7b€170.3b€9.7b17.1x11.6x0.7x
Fri, 05 Apr 2024€118.8b€169.7b€9.6b16.2x12.4x0.7x
Sun, 03 Mar 2024€109.0b€167.4b€9.6b13.5x11.4x0.7x
Tue, 30 Jan 2024€97.3b€171.2b€8.9b14.1x10.9x0.6x
Thu, 28 Dec 2023€97.4b€171.2b€8.9b13.9x10.9x0.6x
Sat, 25 Nov 2023€88.4b€171.0b€9.0b13.1x9.9x0.5x
Mon, 23 Oct 2023€86.8b€169.4b€8.1b12.4x10.7x0.5x
Wed, 20 Sep 2023€93.5b€169.4b€8.1b12.1x11.5x0.6x
Fri, 18 Aug 2023€95.5b€169.3b€8.1b12.2x11.8x0.6x
Sun, 16 Jul 2023€96.6b€163.6b€7.5b13.1x12.8x0.6x
Tue, 13 Jun 2023€94.9b€163.5b€7.5b14.4x12.6x0.6x
Thu, 11 May 2023€94.4b€159.8b€7.0b15.6x13.6x0.6x
Sat, 08 Apr 2023€91.2b€156.5b€6.8b16.8x13.5x0.6x
Price to Earnings Ratio

13.5x


Total Market Cap: €91.2bTotal Earnings: €6.8bTotal Revenue: €156.5bTotal Market Cap vs Earnings and Revenue0%0%0%
German Machinery Industry Price to Earnings3Y Average 13.3x202420252026
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 20.2x which is higher than its 3-year average PE of 13.3x.
  • The industry is trading close to its 3-year average PS ratio of 0.64x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have declined 4.6% 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 Market0.20%
Industrials-2.31%
Machinery-0.18%
Construction Machinery and Vehicles-0.17%
Industrial Machinery-0.19%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 22.7x.
    • Analysts are expecting annual earnings growth of 16.9%, which is higher than its past year's earnings growth of 1.3% 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 11.0x.
Forecasted Growth
  • Analysts are most optimistic on the Construction Machinery and Vehicles industry, expecting annual earnings growth of 21% 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€41.471.0%
+€328.8m		11.8%PE18x
8TRA Traton€30.821.2%
+€180.0m		-3.1%PE10x
G1A GEA Group€61.201.6%
+€154.7m		8.7%PE24.3x
WAC Wacker Neuson€18.083.4%
+€40.8m		-15.1%PE15.9x
MXHN MAX Automation€4.7426.1%
+€40.4m		-22.0%PS0.6x

Latest News

WAC
€18.08
Wacker Neuson
7D
3.4%
1Y
-15.1%

WAC: Steady Fair Value Will Reflect 2025 Guidance And Confirmed Dividend

Analysts have kept their price target for Wacker Neuson unchanged at €21.33, citing only slight tweaks to assumptions on discount rate, revenue growth, profit margin and future P/E that do not materially alter their overall view. What's in the News Annual dividend of €0.70 per share announced, with payment scheduled for May 18, 2026, ex-date on May 14, 2026, and record date on May 15, 2026 (Key Developments).
JST
€49.90
JOST Werke
7D
-10.7%
1Y
-4.2%
VOS
€68.00
Vossloh
7D
-4.0%
1Y
5.1%
DEZ
€8.44
DEUTZ
7D
-5.0%
1Y
23.8%
KSB
€955.00
KSB SE KGaA
7D
-17.0%
1Y
17.9%
KRN
€115.20
Krones
7D
-0.5%
1Y
-8.6%
PFV
€165.00
Pfeiffer Vacuum Technology
7D
1.2%
1Y
6.0%
8TRA
€30.82
Traton
7D
1.2%
1Y
-3.1%

8TRA: Truck Cycle Reset And Margin Resilience Will Drive Medium Term Upside

Analyst fair value for Traton has been nudged higher to about €45.71, with recent price target moves to €34, €40 and €31.80 reflecting updated views on revenue growth, margins and a slightly higher discount rate in a still cautious truck market. Analyst Commentary Recent Street research on Traton provides a mixed but generally constructive read on sentiment, with several firms revisiting their price targets and ratings as they reassess truck cycle risk, order visibility and valuation.
KBX
€97.15
Knorr-Bremse
7D
-1.5%
1Y
16.3%

KBX: Rich Rail Hopes Will Expose Truck Cycle Recovery Execution Risk

Analysts have lifted their price targets for Knorr-Bremse into a roughly €112 to €131 range, citing stronger expectations for rail growth, potential truck cycle recovery, and a willingness to apply higher future P/E multiples, despite mixed views from some houses. Analyst Commentary Recent research on Knorr-Bremse points to a wide but generally constructive range of price targets, with large houses setting reference levels between €112 and €131.
RAA
€622.00
RATIONAL
7D
0.6%
1Y
-18.5%

RAA: Medium Term 8% Guidance And P/E Framework Will Support Upside

Analysts have raised their price target on RATIONAL by about €9 to roughly €790, citing small refinements to assumptions on fair value, discount rate, revenue growth, profit margin and future P/E following recent upgrades and target raises from several banks. Analyst Commentary Recent research updates cluster around a similar fair value area, with several banks lifting price targets toward about €790.
R3NK
€50.64
RENK Group
7D
-0.9%
1Y
10.1%

R3NK: Rising Dividend Will Support Positive Medium Term Return Potential

Analysts have maintained their RENK Group price target at €76.00, citing slightly higher assumed revenue growth and profit margins, along with a small adjustment in the discount rate and a modestly lower future P/E multiple as the key factors behind their updated view. What's in the News RENK Group issued revenue guidance for 2026, indicating an expectation of revenue of over €1.5b.
DTG
€41.47
Daimler Truck Holding
7D
1.0%
1Y
11.8%
NOEJ
€16.62
NORMA Group
7D
5.1%
1Y
31.1%

NOEJ: Higher Price Outlook Will Balance Weaker Margins And Earnings Multiple Assumptions

Analysts have raised their price target for NORMA Group from €7.90 to €15.00, citing updated assumptions about fair value, the discount rate, revenue growth, profit margin and future P/E multiples. Valuation Changes Fair Value: price target raised from €7.90 to €15.00, close to a 2x level compared with the prior estimate.
MXHN
€4.74
MAX Automation
7D
26.1%
1Y
-22.0%
G1A
€61.20
GEA Group
7D
1.6%
1Y
8.7%

G1A: Outlook Will Stay Firm As Dividend And EPS Guidance Support Fairness

Analysts now set a revised price target of €65.10 for GEA Group, compared with the prior €63.86. This reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
MUB
€36.00
Mühlbauer Holding
7D
-2.7%
1Y
-15.1%