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German (DAX) Machinery Industry Analysis

UpdatedApr 11, 2026
DataAggregated Company Financials
Companies51
  • 7D4.8%
  • 3M-0.5%
  • 1Y23.8%
  • YTD3.1%

Over the last 7 days, the Machinery industry has risen 4.8%, driven by gains in Daimler Truck Holding and Knorr-Bremse of 4.3% and 7.5%, respectively. This takes the industry's 12 month performance to a gain of 24%. Earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 11 Apr 2026€126.6b€157.5b€5.8b19.9x21.9x0.8x
Mon, 09 Mar 2026€121.1b€161.6b€6.4b20.8x19x0.7x
Wed, 04 Feb 2026€128.2b€161.6b€6.3b21.9x20.2x0.8x
Fri, 02 Jan 2026€119.4b€161.7b€6.4b21.8x18.6x0.7x
Sun, 30 Nov 2025€115.5b€161.7b€6.4b21.1x17.9x0.7x
Tue, 28 Oct 2025€113.3b€164.4b€7.1b20.9x16x0.7x
Thu, 25 Sep 2025€117.3b€164.4b€7.1b19.7x16.6x0.7x
Sat, 23 Aug 2025€123.5b€164.5b€7.1b19.1x17.4x0.8x
Mon, 21 Jul 2025€119.8b€165.2b€8.1b19.5x14.7x0.7x
Wed, 18 Jun 2025€115.9b€165.7b€8.1b20.6x14.3x0.7x
Fri, 16 May 2025€117.6b€165.5b€8.1b17.6x14.5x0.7x
Sun, 13 Apr 2025€100.7b€168.0b€8.8b16.7x11.5x0.6x
Tue, 11 Mar 2025€121.8b€168.9b€9.2b16.6x13.2x0.7x
Thu, 06 Feb 2025€109.5b€169.2b€9.0b16.1x12.2x0.6x
Sat, 04 Jan 2025€101.3b€169.1b€9.0b16.9x11.3x0.6x
Mon, 02 Dec 2024€102.3b€169.1b€9.0b14.9x11.4x0.6x
Wed, 30 Oct 2024€108.0b€169.7b€9.4b15.6x11.5x0.6x
Fri, 27 Sep 2024€104.5b€169.7b€9.4b16.1x11.1x0.6x
Sun, 25 Aug 2024€103.1b€169.7b€9.4b15.5x11x0.6x
Tue, 23 Jul 2024€107.6b€170.4b€9.7b15.9x11.1x0.6x
Thu, 20 Jun 2024€106.1b€170.3b€9.7b16x11x0.6x
Sat, 18 May 2024€110.8b€170.3b€9.7b16.7x11.4x0.7x
Mon, 15 Apr 2024€117.1b€169.6b€9.6b16.4x12.2x0.7x
Wed, 13 Mar 2024€113.6b€168.3b€9.6b13.6x11.9x0.7x
Fri, 09 Feb 2024€93.9b€167.0b€8.9b12.9x10.5x0.6x
Sun, 07 Jan 2024€94.4b€171.2b€8.9b13.8x10.5x0.6x
Tue, 05 Dec 2023€89.8b€171.1b€9.0b13.1x10x0.5x
Thu, 02 Nov 2023€85.1b€170.4b€9.0b11.8x9.4x0.5x
Sat, 30 Sep 2023€93.5b€169.4b€8.1b12.3x11.5x0.6x
Mon, 28 Aug 2023€93.4b€169.3b€8.1b12.3x11.5x0.6x
Wed, 26 Jul 2023€96.8b€163.6b€7.5b12.2x12.8x0.6x
Fri, 23 Jun 2023€93.8b€163.6b€7.6b14.2x12.4x0.6x
Sun, 21 May 2023€95.3b€160.8b€7.1b15.6x13.5x0.6x
Tue, 18 Apr 2023€96.6b€156.4b€6.8b17x14.3x0.6x
Price to Earnings Ratio

14.3x


Total Market Cap: €96.6bTotal Earnings: €6.8bTotal Revenue: €156.4bTotal Market Cap vs Earnings and Revenue0%0%0%
German Machinery Industry Price to Earnings3Y Average 13.4x202420252026
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 21.9x which is higher than its 3-year average PE of 13.4x.
  • The industry is trading close to its 3-year average PS ratio of 0.65x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have declined 5.1% 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 Market2.93%
Industrials5.62%
Machinery4.75%
Construction Machinery and Vehicles5.21%
Industrial Machinery3.75%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 22.8x.
    • Analysts are expecting annual earnings growth of 16.7%, 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 11.1x.
Forecasted Growth
  • Analysts are most optimistic on the Construction Machinery and Vehicles industry, expecting annual earnings growth of 20% over the next 5 years.
  • This is better than its past earnings decline of 11% 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€44.304.3%
+€1.4b		36.7%PE19.2x
KBX Knorr-Bremse€106.207.5%
+€1.2b		40.5%PE32.1x
8TRA Traton€33.305.6%
+€890.0m		28.6%PE10.8x
RAA RATIONAL€688.008.2%
+€591.2m		-2.8%PE30.8x
KGX KION GROUP€45.047.9%
+€432.7m		40.9%PE25.7x

Latest News

8TRA
€33.30
Traton
7D
5.6%
1Y
28.6%

8TRA: Truck Cycle Reset And One OS Rollout Will Drive Medium Term Upside

The analyst fair value estimate for Traton has nudged higher to €46.07 from €45.71. The adjustment reflects recent price target increases from €32 to €34 and €40, and a more supportive analyst stance on future revenue growth, profit margins and truck market conditions.
DUE
€21.45
Dürr
7D
12.0%
1Y
14.1%
KBX
€106.20
Knorr-Bremse
7D
7.5%
1Y
40.5%

KBX: Rail Optimism Will Expose Risk In Truck Cycle Execution

Knorr-Bremse's updated analyst price target has edged higher, in line with modestly adjusted fair value and cash flow inputs. Analysts highlight the company's rail growth profile and potential cyclical support from trucks, reflected in a series of recent price target lifts to a range of about €112 to €131.
4X0
€37.80
Steyr Motors
7D
-1.0%
1Y
5.9%
KRN
€123.40
Krones
7D
5.7%
1Y
8.6%

KRN: Updated Margin Assumptions And Dividend Outlook Will Support Future Upside

Analysts have nudged their price target on Krones higher to €156, a €6 increase, reflecting updated views on its long term margins, discount rate and P/E assumptions following recent research from both Berenberg and Deutsche Bank. Analyst Commentary Bullish Takeaways Bullish analysts link the €156 target to assumptions that Krones can sustain its long term margin profile, which they see as supportive of the current P/E framework.
RAA
€688.00
RATIONAL
7D
8.2%
1Y
-2.8%

RAA: Mixed Rating Shifts And Dividend Moves Will Likely Reshape Medium Term Expectations

Narrative Update on RATIONAL The updated analyst price target for RATIONAL edges up by €5 to €585, as analysts weigh recent mixed target moves, including adjustments from Deutsche Bank alongside upgrades from DZ Bank, RBC Capital and Berenberg, against slightly refined assumptions for discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Recent research on RATIONAL shows a split in sentiment, with some firms turning more positive while others take a more cautious stance.
R3NK
€52.28
RENK Group
7D
-3.0%
1Y
15.3%

R3NK: Dividend Proposal And 2026 Revenue Outlook Will Shape Balanced View

Analysts have nudged their price target for RENK Group slightly higher to about €53.77 from €53.00, reflecting updated views on fair value, discount rate, expected revenue growth, and profit margins. What's in the News RENK Group AG proposed a dividend of €0.58 per share for 2025, to be submitted to the general meeting on June 10, 2026, compared with €0.42 for 2024 and a stated distribution ratio of 40.9% (Key Developments).
MZX
€13.85
Masterflex
7D
-1.8%
1Y
42.5%
KGX
€45.04
KION GROUP
7D
7.9%
1Y
40.9%

KGX: AI Warehouse Automation And Lumpy Volumes Will Shape Future Upside

Analysts have raised the fair value estimate for KION GROUP from €48.50 to €52.00, reflecting updated assumptions on discount rate, revenue growth, profit margin and future P/E after a mix of recent price target changes and rating moves from the Street. Analyst Commentary Recent Street research paints a mixed picture for KION GROUP, with price target changes and rating shifts pointing to both optimism and caution.
DTG
€44.30
Daimler Truck Holding
7D
4.3%
1Y
36.7%

DTG: Rich P/E Will Face Test From Execution And Cycle Risks

The analyst price target for Daimler Truck Holding has been raised from about €30.66 to about €34.31, with analysts citing updated assumptions regarding revenue growth, profit margins and future P/E multiples. These revised assumptions are supported by a series of recent target increases and upgrades across major banks.
MXHN
€4.22
MAX Automation
7D
-6.2%
1Y
-23.3%
FJC0
€30.00
Fujitec
7D
7.1%
1Y
n/a
RSL2
€13.40
R. STAHL
7D
-1.5%
1Y
-20.2%

LNG Reliance And Weak Orders Will Pressure Margins Before Gradual Earnings Recovery

Catalysts About R. STAHL R.
SF3
€2.91
STS Group
7D
-1.0%
1Y
-7.9%
MSAG
€1.26
MS Industrie
7D
-2.3%
1Y
-25.9%
PIT
€1.70
Pittler Maschinenfabrik
7D
-5.0%
1Y
-1.7%