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German (DAX) Machinery Industry Analysis

UpdatedApr 09, 2026
DataAggregated Company Financials
Companies51
  • 7D3.8%
  • 3M-0.4%
  • 1Y27.5%
  • YTD3.4%

The Machinery industry is up 3.8% in the last week, with Daimler Truck Holding up 5.8%. This means that the industry has gained 28% over the past year. 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
Thu, 09 Apr 2026€127.0b€157.6b€5.8b19.9x22x0.8x
Sat, 07 Mar 2026€121.1b€161.2b€6.1b20.8x19.9x0.8x
Mon, 02 Feb 2026€124.0b€161.6b€6.3b21.5x19.5x0.8x
Wed, 31 Dec 2025€119.4b€161.7b€6.4b21.8x18.6x0.7x
Fri, 28 Nov 2025€115.3b€161.7b€6.4b21.1x17.9x0.7x
Sun, 26 Oct 2025€113.7b€164.4b€7.1b20.9x16.1x0.7x
Tue, 23 Sep 2025€117.5b€164.4b€7.1b19.4x16.6x0.7x
Thu, 21 Aug 2025€122.0b€164.5b€7.1b19.1x17.2x0.7x
Sat, 19 Jul 2025€119.8b€165.2b€8.1b19.5x14.7x0.7x
Mon, 16 Jun 2025€115.9b€165.7b€8.1b20.7x14.3x0.7x
Wed, 14 May 2025€118.8b€166.3b€8.1b18.8x14.6x0.7x
Fri, 11 Apr 2025€100.9b€168.0b€8.8b16.5x11.5x0.6x
Sun, 09 Mar 2025€123.9b€169.3b€9.0b16.7x13.8x0.7x
Tue, 04 Feb 2025€111.5b€169.2b€9.0b16.1x12.4x0.7x
Thu, 02 Jan 2025€102.0b€169.1b€9.0b17.2x11.4x0.6x
Sat, 30 Nov 2024€102.3b€169.1b€9.0b14.9x11.4x0.6x
Mon, 28 Oct 2024€108.6b€169.7b€9.4b15.7x11.6x0.6x
Wed, 25 Sep 2024€102.3b€169.7b€9.4b15.8x10.9x0.6x
Fri, 23 Aug 2024€102.0b€169.7b€9.4b15.2x10.8x0.6x
Sun, 21 Jul 2024€106.4b€170.4b€9.7b15.9x11x0.6x
Tue, 18 Jun 2024€105.4b€170.3b€9.7b15.5x10.9x0.6x
Thu, 16 May 2024€113.3b€170.3b€9.7b17.6x11.7x0.7x
Sat, 13 Apr 2024€117.1b€169.6b€9.6b16.4x12.2x0.7x
Mon, 11 Mar 2024€110.4b€168.3b€9.6b13.9x11.5x0.7x
Wed, 07 Feb 2024€93.7b€167.0b€8.9b13x10.5x0.6x
Fri, 05 Jan 2024€94.6b€171.2b€8.9b13.9x10.6x0.6x
Sun, 03 Dec 2023€90.1b€171.1b€9.0b12.9x10.1x0.5x
Tue, 31 Oct 2023€85.3b€170.3b€9.0b11.8x9.4x0.5x
Thu, 28 Sep 2023€92.3b€169.4b€8.1b12.3x11.4x0.5x
Sat, 26 Aug 2023€93.4b€169.3b€8.1b12.3x11.5x0.6x
Mon, 24 Jul 2023€96.7b€163.6b€7.5b12.8x12.8x0.6x
Wed, 21 Jun 2023€95.1b€163.6b€7.6b14.3x12.6x0.6x
Fri, 19 May 2023€94.8b€160.8b€7.1b15.6x13.4x0.6x
Sun, 16 Apr 2023€94.9b€156.4b€6.8b17x14x0.6x
Price to Earnings Ratio

14x


Total Market Cap: €94.9bTotal 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 22.0x 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 5.0% 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 Market2.86%
Industrials5.21%
Machinery3.82%
Construction Machinery and Vehicles4.30%
Industrial Machinery2.75%
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 16.6%, 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€44.755.8%
+€1.9b		40.9%PE19.4x
8TRA Traton€33.445.4%
+€860.0m		32.3%PE10.8x
KBX Knorr-Bremse€105.004.3%
+€693.2m		41.3%PE31.7x
RAA RATIONAL€682.505.8%
+€426.4m		-0.9%PE30.6x
KSB KSB SE KGaA€1.10k10.1%
+€175.1m		50.0%PE13.6x

Latest News

RAA
€682.50
RATIONAL
7D
5.8%
1Y
-0.9%

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.
NOEJ
€14.74
NORMA Group
7D
-4.2%
1Y
60.2%

NOEJ: Share Repurchase And Dividend Policy Will Support Share Price Recovery

Analysts have adjusted their price target for NORMA Group to €17.03 from €16.39, citing updated views on revenue growth expectations, profit margins, and an implied future P/E of about 51.71x. What's in the News NORMA Group SE plans to commence a share repurchase program on February 27, 2026, under an existing mandate that allows buybacks of up to 10% of its issued share capital.
G1A
€62.90
GEA Group
7D
1.0%
1Y
26.8%

G1A: Rich Multiple And Lower Margin Outlook Will Keep Shares Stretched

GEA Group’s updated analyst price target remains at €54.00. Analysts point to modestly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E to support keeping the target unchanged.
DUE
€21.55
Dürr
7D
9.6%
1Y
22.2%
KGX
€44.76
KION GROUP
7D
-2.4%
1Y
50.0%

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.
8TRA
€33.44
Traton
7D
5.4%
1Y
32.3%
KGR
€29.20
LEWAG Holding
7D
-5.2%
1Y
-5.8%
KSB
€1,095.00
KSB SE KGaA
7D
10.1%
1Y
50.0%

Long Term Energy And Water Demand Will Support This Industrial Supplier

Catalysts About KSB SE KGaA KSB SE KGaA supplies pumps, valves and related services for applications ranging from building technology and water to energy and industrial processes. What are the underlying business or industry changes driving this perspective?
DTG
€44.75
Daimler Truck Holding
7D
5.8%
1Y
40.9%

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.
KRN
€123.40
Krones
7D
3.5%
1Y
13.4%
KBX
€105.00
Knorr-Bremse
7D
4.3%
1Y
41.3%

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.
MXHN
€4.44
MAX Automation
7D
-2.0%
1Y
-22.4%
RSL2
€13.40
R. STAHL
7D
-1.5%
1Y
-25.1%

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

Catalysts About R. STAHL R.
MUB
€36.00
Mühlbauer Holding
7D
-2.2%
1Y
-11.8%
VQT
€25.60
Envirotainer
7D
-1.5%
1Y
1.6%
ALXA
€13.70
Alexanderwerk
7D
-2.1%
1Y
5.4%