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German (DAX) Machinery Industry Analysis

UpdatedMar 13, 2026
DataAggregated Company Financials
Companies51
  • 7D1.1%
  • 3M4.0%
  • 1Y6.1%
  • YTD2.3%

Over the last 7 days, the Machinery industry has risen 1.1%, driven by gains from Daimler Truck Holding of 6.0%. Meanwhile, KION GROUP actually underperformed within the industry, shrinking 8.1% in the last week. This takes the industry's 12 month performance to a gain of 6.1%. 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
Fri, 13 Mar 2026€123.6b€161.3b€6.4b20.3x19.5x0.8x
Sun, 08 Feb 2026€131.0b€161.6b€6.3b21.7x20.6x0.8x
Tue, 06 Jan 2026€121.7b€161.7b€6.4b21.9x19.2x0.8x
Thu, 04 Dec 2025€113.2b€161.7b€6.4b21.4x17.6x0.7x
Sat, 01 Nov 2025€113.3b€162.9b€6.7b20.5x16.9x0.7x
Mon, 29 Sep 2025€115.0b€164.4b€7.1b19.8x16.3x0.7x
Wed, 27 Aug 2025€121.8b€164.5b€7.1b19x17.1x0.7x
Fri, 25 Jul 2025€125.7b€165.6b€8.1b19.6x15.5x0.8x
Sun, 22 Jun 2025€113.6b€165.7b€8.1b20.4x14x0.7x
Tue, 20 May 2025€118.2b€165.6b€8.1b17.5x14.6x0.7x
Thu, 17 Apr 2025€105.4b€168.0b€8.8b17.6x12x0.6x
Sat, 15 Mar 2025€120.1b€168.4b€8.8b16.6x13.7x0.7x
Mon, 10 Feb 2025€110.7b€169.2b€9.0b16.3x12.4x0.7x
Wed, 08 Jan 2025€106.0b€169.1b€9.0b17.5x11.8x0.6x
Fri, 06 Dec 2024€105.2b€169.1b€9.0b15.5x11.7x0.6x
Sun, 03 Nov 2024€104.4b€170.1b€9.4b14.8x11.1x0.6x
Tue, 01 Oct 2024€103.8b€169.7b€9.4b16.6x11x0.6x
Thu, 29 Aug 2024€102.5b€169.7b€9.4b15.4x10.9x0.6x
Sat, 27 Jul 2024€103.2b€170.4b€9.7b15.9x10.6x0.6x
Mon, 24 Jun 2024€104.8b€170.4b€9.7b16.1x10.8x0.6x
Wed, 22 May 2024€110.9b€170.3b€9.7b17.2x11.4x0.7x
Fri, 19 Apr 2024€115.5b€169.7b€9.6b16.5x12.1x0.7x
Sun, 17 Mar 2024€115.3b€168.3b€9.6b14.6x12x0.7x
Tue, 13 Feb 2024€94.0b€167.0b€8.9b12.8x10.5x0.6x
Thu, 11 Jan 2024€95.3b€171.2b€8.9b14x10.6x0.6x
Sat, 09 Dec 2023€92.3b€171.1b€9.0b13.3x10.3x0.5x
Mon, 06 Nov 2023€87.4b€170.6b€9.0b12.2x9.7x0.5x
Wed, 04 Oct 2023€93.0b€169.4b€8.1b12.2x11.4x0.5x
Fri, 01 Sep 2023€95.4b€169.3b€8.1b12.2x11.8x0.6x
Sun, 30 Jul 2023€98.6b€165.9b€7.9b12.7x12.4x0.6x
Tue, 27 Jun 2023€94.2b€163.6b€7.6b13.9x12.4x0.6x
Thu, 25 May 2023€92.1b€160.8b€7.0b14.6x13.1x0.6x
Sat, 22 Apr 2023€95.9b€156.4b€6.8b16.9x14.2x0.6x
Mon, 20 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 19.5x 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 Market-0.87%
Industrials-0.0022%
Machinery1.09%
Construction Machinery and Vehicles1.40%
Industrial Machinery0.38%
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 13.0%, 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€43.736.0%
+€1.9b		12.2%PE15.1x
G1A GEA Group€63.653.8%
+€382.6m		12.6%PE25.3x
R3NK RENK Group€54.625.0%
+€262.0m		44.5%PE54.4x
KSB KSB SE KGaA€1.14k6.5%
+€122.6m		42.5%PE17x
8TRA Traton€31.520.5%
+€80.0m		-5.9%PE10.2x

Latest News

G1A
€63.65
GEA Group
7D
3.8%
1Y
12.6%
RAA
€678.00
RATIONAL
7D
-2.2%
1Y
-18.9%

RAA: Higher Rating And Margin Outlook Will Support Future Premium P E

Analysts have nudged their price targets on RATIONAL higher by €6, citing slightly stronger assumptions for fair value, discount rate, revenue growth, profit margin and future P/E that align with recent upward revisions in Street research. Analyst Commentary Bullish analysts are leaning into a more constructive view on RATIONAL, with recent research pointing to higher fair value estimates and support for the current valuation framework.
KRN
€122.80
Krones
7D
-1.8%
1Y
-6.3%

KRN: Refined Assumptions And Guidance Will Support A Steady Medium Term Outlook

Analysts have nudged their fair value estimate for Krones slightly higher to about €151 from roughly €150, citing updated price targets. Berenberg has moved its target to €156, which offsets a recent reduction from Deutsche Bank.
R3NK
€54.62
RENK Group
7D
5.0%
1Y
44.5%

R3NK: Higher 2026 Revenue Guidance And Rising Dividend Will Support Upside

Analysts have kept their €76.00 price target for RENK Group unchanged. They cited slightly adjusted assumptions for revenue growth, profit margins, the discount rate and future P/E that largely offset each other in their updated model.
VOS
€72.90
Vossloh
7D
-2.4%
1Y
23.6%
DEZ
€10.34
DEUTZ
7D
-6.4%
1Y
88.3%
KBX
€103.10
Knorr-Bremse
7D
-1.9%
1Y
15.8%

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.
DUE
€19.56
Dürr
7D
-4.1%
1Y
-17.0%
KGX
€48.02
KION GROUP
7D
-8.1%
1Y
11.8%

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.
8TRA
€31.52
Traton
7D
0.5%
1Y
-5.9%
CA1
€6.22
Circus
7D
-11.1%
1Y
-66.2%
DTG
€43.73
Daimler Truck Holding
7D
6.0%
1Y
12.2%

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
€19.32
Wacker Neuson
7D
2.0%
1Y
4.7%

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.
KSB
€1,140.00
KSB SE KGaA
7D
6.5%
1Y
42.5%
HG1
€25.00
HOMAG Group
7D
2.5%
1Y
-13.8%
WSU
€50.00
WashTec
7D
2.0%
1Y
19.0%