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German (DAX) Machinery Industry Analysis

UpdatedMar 11, 2026
DataAggregated Company Financials
Companies51
  • 7D0.1%
  • 3M5.6%
  • 1Y4.9%
  • YTD1.8%

Over the last 7 days, the Machinery industry has dropped 7.4%, driven by a pullback from Traton of 13%. In contrast, Mühlbauer Holding has gained 6.3%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 19% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Mar 2026€122.7b€161.2b€6.4b20.4x19.3x0.8x
Fri, 06 Feb 2026€130.9b€161.6b€6.3b21.6x20.6x0.8x
Sun, 04 Jan 2026€120.6b€161.7b€6.4b21.8x19x0.7x
Tue, 02 Dec 2025€114.2b€161.7b€6.4b20.9x17.7x0.7x
Thu, 30 Oct 2025€112.6b€164.4b€7.1b20.9x15.9x0.7x
Sat, 27 Sep 2025€115.1b€164.4b€7.1b19.8x16.3x0.7x
Mon, 25 Aug 2025€123.5b€164.5b€7.1b19.1x17.4x0.8x
Wed, 23 Jul 2025€120.7b€165.2b€8.1b19.6x14.8x0.7x
Fri, 20 Jun 2025€113.0b€165.7b€8.1b20.1x13.9x0.7x
Sun, 18 May 2025€117.3b€165.6b€8.1b17.7x14.5x0.7x
Tue, 15 Apr 2025€103.6b€168.0b€8.8b16.7x11.8x0.6x
Thu, 13 Mar 2025€118.7b€169.0b€9.2b16.4x12.9x0.7x
Sat, 08 Feb 2025€110.7b€169.2b€9.0b16.3x12.4x0.7x
Mon, 06 Jan 2025€101.2b€169.1b€9.0b16.9x11.3x0.6x
Wed, 04 Dec 2024€102.8b€169.1b€9.0b15.2x11.5x0.6x
Fri, 01 Nov 2024€106.5b€170.2b€9.4b15.4x11.3x0.6x
Sun, 29 Sep 2024€105.6b€169.7b€9.4b16.5x11.2x0.6x
Tue, 27 Aug 2024€102.9b€169.7b€9.4b15.4x10.9x0.6x
Thu, 25 Jul 2024€103.2b€170.4b€9.7b15.8x10.6x0.6x
Sat, 22 Jun 2024€104.8b€170.3b€9.7b16.1x10.8x0.6x
Mon, 20 May 2024€110.9b€170.3b€9.7b16.7x11.4x0.7x
Wed, 17 Apr 2024€117.7b€169.6b€9.6b16.6x12.3x0.7x
Fri, 15 Mar 2024€113.9b€168.3b€9.6b13.9x11.9x0.7x
Sun, 11 Feb 2024€93.6b€167.0b€8.9b13x10.5x0.6x
Tue, 09 Jan 2024€95.3b€171.2b€8.9b13.9x10.6x0.6x
Thu, 07 Dec 2023€92.0b€171.1b€9.0b13.5x10.3x0.5x
Sat, 04 Nov 2023€87.4b€170.4b€9.0b12x9.7x0.5x
Mon, 02 Oct 2023€93.5b€169.4b€8.1b12.3x11.5x0.6x
Wed, 30 Aug 2023€94.9b€169.3b€8.1b12.2x11.7x0.6x
Fri, 28 Jul 2023€97.1b€163.6b€7.5b12.3x12.9x0.6x
Sun, 25 Jun 2023€93.8b€163.6b€7.6b14x12.4x0.6x
Tue, 23 May 2023€95.0b€160.8b€7.1b15.5x13.5x0.6x
Thu, 20 Apr 2023€96.4b€156.4b€6.8b16.9x14.3x0.6x
Sat, 18 Mar 2023€90.7b€155.2b€6.7b15.7x13.5x0.6x
Price to Earnings Ratio

13.5x


Total Market Cap: €90.7bTotal Earnings: €6.7bTotal Revenue: €155.2bTotal Market Cap vs Earnings and Revenue0%0%0%
German Machinery Industry Price to Earnings3Y Average 13.2x202420252026
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 18.7x which is higher than its 3-year average PE of 13.2x.
  • The industry is trading close to its 3-year average PS ratio of 0.64x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Machinery industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

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

DE Market0.19%
Industrials1.17%
Machinery0.11%
Construction Machinery and Vehicles0.68%
Industrial Machinery-1.18%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry, which is trading close to its 3-year average PE ratio of 22.7x.
    • Analysts are expecting annual earnings growth of 13.2%, which is higher than its past year's earnings decline of 10.3% 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 10.9x.
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 23% per year.
  • In contrast, the Industrial Machinery industry is expected to see its earnings grow by 13% 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€41.504.2%
+€1.3b		1.9%PE14.3x
KBX Knorr-Bremse€105.601.5%
+€257.9m		20.4%PE39.1x
WAC Wacker Neuson€19.703.1%
+€40.8m		6.0%PE21.9x
KSB KSB SE KGaA€1.10k1.9%
+€35.0m		43.8%PE16.4x
MUB Mühlbauer Holding€36.805.1%
+€25.5m		-13.2%PE39.3x

Latest News

G1A
€62.45
GEA Group
7D
0.2%
1Y
11.1%
JST
€63.10
JOST Werke
7D
1.4%
1Y
25.4%

JST: Follow On Offering And Improved Assumptions Will Support Future Upside

Analysts have kept their €74.0 price target for JOST Werke unchanged, citing slightly adjusted assumptions around the discount rate, revenue growth, profit margin and future P/E as the key factors behind the refreshed view. What's in the News JOST Werke SE has filed a follow on equity offering for its Ordinary Bearer Shares, classified as common stock.
VOS
€71.40
Vossloh
7D
-7.6%
1Y
22.3%
KBX
€105.60
Knorr-Bremse
7D
1.5%
1Y
20.4%

KBX: Elevated Rail And Truck Hopes Will Magnify Execution Downside Risk

Analysts have lifted their average price targets on Knorr-Bremse to a range of roughly €116 to €131, citing stronger expectations around rail growth, a potential cyclical recovery in trucks, and improved profitability assumptions, alongside a slightly lower discount rate and reduced future P/E. Analyst Commentary Recent research on Knorr-Bremse points to a generally constructive stance on the shares, with several large banks revisiting their models and valuation frameworks.
R3NK
€55.30
RENK Group
7D
-3.1%
1Y
61.5%
DUE
€20.00
Dürr
7D
-9.1%
1Y
-17.0%
KGX
€50.75
KION GROUP
7D
-2.6%
1Y
19.6%

KGX: Mixed Volume Recovery And Margin Risks Will Likely Restrain Future Upside

The analyst fair value estimate for KION GROUP has edged down from €49.41 to €48.50, reflecting a slightly higher discount rate, a lower assumed profit margin, and mixed Street views, with some analysts raising price targets while others trim ratings and targets as they anticipate uneven volume recovery and limited downside after the recent share pullback. Analyst Commentary Recent research on KION GROUP points to a split view, with some firms turning more constructive while others step back and flag execution and growth risks.
HDD
€1.39
Heidelberger Druckmaschinen
7D
5.2%
1Y
24.0%

HDD: Defense Partnership And Stable Outlook Will Support Future Upside Potential

Analysts have maintained their €2.25 price target for Heidelberger Druckmaschinen, citing largely stable assumptions for the discount rate, revenue growth, profit margin and future P/E as the basis for this unchanged outlook. What's in the News Heidelberger Druckmaschinen issued earnings guidance for the 2025-2026 financial year, with net sales expected to be around €2.35b compared with €2.28b in the prior year (Corporate Guidance).
8TRA
€31.70
Traton
7D
-3.5%
1Y
-7.0%
DTG
€41.50
Daimler Truck Holding
7D
4.2%
1Y
1.9%

DTG: Updated Fair Value View Will Rely On Core Truck Execution

Analysts have raised their average price targets on Daimler Truck into the mid €40s. Our updated work reduces fair value to €53, reflecting higher assumed discount rates, a richer future P/E and more mixed margin expectations, even as revenue growth assumptions increase.
WAC
€19.70
Wacker Neuson
7D
3.1%
1Y
6.0%

WAC: Fair Value Will Reflect Central 2025 Revenue Guidance And Margin Trade Off

Analysts have adjusted their price target for Wacker Neuson slightly higher from €20.67 to €21.33. This reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
RAA
€687.50
RATIONAL
7D
-3.8%
1Y
-17.2%

RAA: Medium Term Organic Expansion Will Likely Fall Short Of Elevated Expectations

The analyst fair value estimate for RATIONAL has edged down by €10 to €580 as analysts factor in updated assumptions on discount rates, revenue growth, profit margins, and a slightly lower future P/E. Analyst Commentary Recent research has generally pointed to a constructive view on RATIONAL, with some firms lifting price targets and upgrading their stance on the stock.
KRN
€123.60
Krones
7D
-1.4%
1Y
-5.4%

KRN: Revised Revenue And Margin Assumptions Will Support A Steady Medium Term Outlook

Analysts have reduced their price target on Krones by €7 in response to updated assumptions around revenue growth, profit margins and a slightly higher future P/E multiple, while maintaining a broadly consistent view of fair value. Analyst Commentary Bullish Takeaways Bullish analysts see the revised price target as still consistent with their overall view of fair value, suggesting the core investment case remains intact even after refreshing key assumptions.
MUB
€36.80
Mühlbauer Holding
7D
5.1%
1Y
-13.2%
KSB
€1,100.00
KSB SE KGaA
7D
1.9%
1Y
43.8%
GIL
€48.20
DMG MORI
7D
-0.6%
1Y
5.0%

Return Trends At DMG MORI (ETR:GIL) Aren't Appealing

Jan 14
Return Trends At DMG MORI (ETR:GIL) Aren't Appealing