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German (DAX) Machinery Industry Analysis

UpdatedJan 15, 2026
DataAggregated Company Financials
Companies51
  • 7D-0.6%
  • 3M11.2%
  • 1Y21.4%
  • YTD3.2%

Over the last 7 days, the Machinery industry has remained flat, although notably KION GROUP declined by 8.6%. The past year has been better, since the industry has gained 23% in that time. Looking forward, 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
Thu, 15 Jan 2026€124.7b€161.7b€6.4b21.8x19.6x0.8x
Sat, 13 Dec 2025€118.5b€161.7b€6.4b21.2x18.5x0.7x
Mon, 10 Nov 2025€111.5b€161.6b€6.5b19.4x17x0.7x
Wed, 08 Oct 2025€116.4b€164.4b€7.1b21.1x16.5x0.7x
Fri, 05 Sep 2025€117.2b€164.4b€7.1b17.4x16.6x0.7x
Sun, 03 Aug 2025€117.9b€164.4b€7.2b21.4x16.3x0.7x
Tue, 01 Jul 2025€118.1b€165.7b€8.1b20.6x14.5x0.7x
Thu, 29 May 2025€118.7b€165.6b€8.1b17.6x14.6x0.7x
Sat, 26 Apr 2025€109.0b€167.6b€8.6b18.2x12.6x0.7x
Mon, 24 Mar 2025€116.9b€168.5b€8.8b18.5x13.3x0.7x
Wed, 19 Feb 2025€118.7b€169.5b€9.1b16.9x13x0.7x
Fri, 17 Jan 2025€102.5b€169.1b€9.0b16.6x11.4x0.6x
Sun, 15 Dec 2024€104.9b€169.1b€9.0b15.6x11.7x0.6x
Tue, 12 Nov 2024€106.0b€169.3b€9.0b14.8x11.7x0.6x
Thu, 10 Oct 2024€105.4b€169.7b€9.4b16.1x11.2x0.6x
Sat, 07 Sep 2024€98.1b€169.7b€9.4b15x10.4x0.6x
Mon, 05 Aug 2024€97.7b€169.9b€9.5b15.5x10.3x0.6x
Wed, 03 Jul 2024€105.6b€170.4b€9.7b15.9x10.9x0.6x
Fri, 31 May 2024€110.1b€170.3b€9.7b16.6x11.4x0.6x
Sun, 28 Apr 2024€113.4b€170.4b€9.7b16.3x11.7x0.7x
Tue, 26 Mar 2024€117.7b€168.5b€9.6b15.1x12.3x0.7x
Thu, 22 Feb 2024€96.1b€167.0b€8.9b12.4x10.8x0.6x
Sat, 20 Jan 2024€93.8b€171.2b€8.9b13.6x10.5x0.5x
Mon, 18 Dec 2023€95.9b€171.2b€8.9b13.5x10.7x0.6x
Wed, 15 Nov 2023€87.6b€171.0b€9.0b13.5x9.8x0.5x
Fri, 13 Oct 2023€90.5b€169.4b€8.1b12.2x11.1x0.5x
Sun, 10 Sep 2023€94.1b€169.4b€8.1b11.9x11.6x0.6x
Tue, 08 Aug 2023€97.7b€168.5b€8.0b12.4x12.2x0.6x
Thu, 06 Jul 2023€96.2b€163.6b€7.5b13.2x12.8x0.6x
Sat, 03 Jun 2023€93.5b€163.5b€7.5b14.2x12.4x0.6x
Mon, 01 May 2023€97.2b€156.6b€6.7b16.9x14.4x0.6x
Wed, 29 Mar 2023€93.6b€155.8b€6.7b16.2x14x0.6x
Fri, 24 Feb 2023€94.6b€148.3b€5.6b18.7x16.8x0.6x
Sun, 22 Jan 2023€91.7b€148.2b€5.6b18.1x16.2x0.6x
Price to Earnings Ratio

16.2x


Total Market Cap: €91.7bTotal Earnings: €5.6bTotal Revenue: €148.2bTotal Market Cap vs Earnings and Revenue0%0%0%
German Machinery Industry Price to Earnings3Y Average 13.1x202420252026
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 13.1x.
  • 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 Market0.33%
Industrials0.024%
Machinery-0.55%
Industrial Machinery0.65%
Construction Machinery and Vehicles-1.06%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 22.3x.
    • 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€40.832.3%
+€712.0m		5.4%PE14.1x
G1A GEA Group€60.553.5%
+€333.7m		26.5%PE23.8x
DEZ DEUTZ€10.5010.1%
+€147.3m		141.4%PE41.8x
KRN Krones€142.201.1%
+€50.5m		16.4%PE15.5x
JST JOST Werke€59.104.0%
+€34.3m		34.3%PE27.9x

Latest News

WAC
€24.10
Wacker Neuson
7D
-3.4%
1Y
64.4%
KRN
€142.20
Krones
7D
1.1%
1Y
16.4%

Here's Why We Think Krones (ETR:KRN) Is Well Worth Watching

Jan 14
Here's Why We Think Krones (ETR:KRN) Is Well Worth Watching
KGX
€64.00
KION GROUP
7D
-8.6%
1Y
90.2%

Is There An Opportunity With KION GROUP AG's (ETR:KGX) 46% Undervaluation?

Jan 13
Is There An Opportunity With KION GROUP AG's (ETR:KGX) 46% Undervaluation?
NOEJ
€15.34
NORMA Group
7D
3.2%
1Y
1.5%
R3NK
€61.48
RENK Group
7D
-0.6%
1Y
189.2%

R3NK: M&A Focus And Confirmed Guidance Will Support Future Upside Potential

Analysts now see fair value for RENK Group at €84.00, down €6.00 from €90.00. This reflects updated assumptions for a slightly higher discount rate, more moderate revenue growth, a lower profit margin, and a higher future P/E multiple.
DTG
€40.83
Daimler Truck Holding
7D
2.3%
1Y
5.4%
KBX
€99.30
Knorr-Bremse
7D
-0.3%
1Y
43.1%

KBX: Confirmed 2025 Guidance And Higher Assumed P/E Will Support Upside Potential

We are nudging our fair value estimate for Knorr-Bremse to €110 from €108, reflecting analysts' slightly lower price targets, including recent moves to €91 and €94, and updated assumptions on growth, margins and future P/E levels. Analyst Commentary Recent Street research on Knorr-Bremse has centered on modestly revised price targets that still sit meaningfully below our updated fair value estimate of €110.
RAA
€655.50
RATIONAL
7D
-1.9%
1Y
-19.6%

RAA: Upgraded Rating And 8% Outlook Will Support Higher Fair Value

Narrative Update on RATIONAL Analysts have lifted their fair value estimate for RATIONAL from €949.78 to €984.13, citing updated assumptions for discount rate, revenue growth, profit margins and future P/E, alongside recent Street research that points to the company being well placed for around 8% annual organic growth in the medium term. Analyst Commentary Recent Street research has tilted more positive on RATIONAL, with bullish analysts highlighting both price target revisions and confidence in the company’s medium term growth profile.
8TRA
€30.80
Traton
7D
-4.5%
1Y
15.1%

8TRA: Profitability Execution And Reaffirmed Guidance Will Drive Medium Term Upside

Narrative update The updated analyst price target for Traton reflects a modest recalibration in fair value to €44.45 from €44.67, as analysts factor in revised assumptions for revenue growth, profit margins, the discount rate, and a higher future P/E multiple, alongside recent mixed target moves from €27.40 at Citi and €31.80 at Goldman Sachs. Analyst Commentary Recent Street research on Traton points to a mixed but generally constructive tone, with price targets clustering in the high €20s to low €30s range and major firms maintaining Neutral stances.
JST
€59.10
JOST Werke
7D
4.0%
1Y
34.3%

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.
DEZ
€10.50
DEUTZ
7D
10.1%
1Y
141.4%
KSB
€975.00
KSB SE KGaA
7D
-2.5%
1Y
53.5%

KSB SE KGaA's (ETR:KSB) Returns On Capital Are Heading Higher

Jan 09
KSB SE KGaA's (ETR:KSB) Returns On Capital Are Heading Higher
CA1
€11.40
Circus
7D
-4.6%
1Y
-52.1%
G1A
€60.55
GEA Group
7D
3.5%
1Y
26.5%

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.
PFV
€160.60
Pfeiffer Vacuum Technology
7D
0.8%
1Y
4.3%
MUB
€39.40
Mühlbauer Holding
7D
2.1%
1Y
0%