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U.K. (FTSE) Machinery Industry Analysis

UpdatedFeb 10, 2026
DataAggregated Company Financials
Companies20
  • 7D4.1%
  • 3M14.8%
  • 1Y29.2%
  • YTD15.6%

Over the last 7 days, the Machinery industry has risen 4.1%, driven by gains in Spirax Group and Weir Group of 7.3% and 3.8%, respectively. In the last 12 months, the industry was up 29%. Looking forward, earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

Has the U.K. Machinery Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Feb 2026UK£31.7bUK£12.2bUK£998.4m29.6x31.7x2.6x
Fri, 09 Jan 2026UK£28.3bUK£12.2bUK£998.6m24.5x28.3x2.3x
Sun, 07 Dec 2025UK£27.3bUK£12.2bUK£983.5m24.4x27.7x2.2x
Tue, 04 Nov 2025UK£27.6bUK£12.2bUK£983.5m24.4x28x2.3x
Thu, 02 Oct 2025UK£26.4bUK£12.4bUK£997.9m23.3x26.5x2.1x
Sat, 30 Aug 2025UK£25.4bUK£12.4bUK£1.0b23.3x25.1x2x
Mon, 28 Jul 2025UK£24.5bUK£12.5bUK£1.1b21.7x22.6x2x
Wed, 25 Jun 2025UK£23.7bUK£12.5bUK£1.1b23.4x22.1x1.9x
Fri, 23 May 2025UK£22.9bUK£12.5bUK£1.1b22.2x21.3x1.8x
Sun, 20 Apr 2025UK£21.2bUK£12.5bUK£1.1b20.5x19.4x1.7x
Tue, 18 Mar 2025UK£24.0bUK£12.5bUK£1.1b20.3x22x1.9x
Thu, 13 Feb 2025UK£25.0bUK£12.6bUK£1.1b22.1x22.8x2x
Sat, 11 Jan 2025UK£23.3bUK£12.6bUK£1.1b21.4x21.3x1.8x
Mon, 09 Dec 2024UK£24.3bUK£12.6bUK£1.1b21.7x22.2x1.9x
Wed, 06 Nov 2024UK£22.3bUK£12.6bUK£1.1b20.6x20.4x1.8x
Fri, 04 Oct 2024UK£23.8bUK£12.6bUK£1.1b20x21.8x1.9x
Sun, 01 Sep 2024UK£24.4bUK£12.6bUK£1.1b20.8x22.3x1.9x
Tue, 30 Jul 2024UK£25.6bUK£12.8bUK£1.1b20.2x23x2x
Thu, 27 Jun 2024UK£25.1bUK£12.8bUK£1.1b19.7x22.7x2x
Sat, 25 May 2024UK£26.5bUK£12.8bUK£1.1b20x24x2.1x
Mon, 22 Apr 2024UK£25.0bUK£12.8bUK£1.1b18.3x22.7x2x
Wed, 20 Mar 2024UK£26.1bUK£12.8bUK£1.1b18.3x23.7x2.1x
Fri, 16 Feb 2024UK£25.0bUK£12.9bUK£1.2b18.1x20.8x1.9x
Sun, 14 Jan 2024UK£25.8bUK£15.8bUK£1.3b16.7x19.5x1.6x
Tue, 12 Dec 2023UK£25.7bUK£15.8bUK£1.3b17.2x19.4x1.6x
Thu, 09 Nov 2023UK£23.7bUK£15.8bUK£1.3b15.5x17.9x1.5x
Sat, 07 Oct 2023UK£24.8bUK£15.8bUK£1.3b16.2x18.8x1.6x
Mon, 04 Sep 2023UK£25.5bUK£15.8bUK£1.3b16.1x19.3x1.6x
Wed, 02 Aug 2023UK£27.0bUK£15.4bUK£1.3b17.4x20.3x1.8x
Fri, 30 Jun 2023UK£25.5bUK£15.2bUK£1.3b17.3x19.2x1.7x
Sun, 28 May 2023UK£26.4bUK£15.2bUK£1.3b16.9x19.9x1.7x
Tue, 25 Apr 2023UK£27.1bUK£15.1bUK£1.3b17.5x20.5x1.8x
Thu, 23 Mar 2023UK£26.3bUK£15.1bUK£1.3b16.6x19.9x1.7x
Sat, 18 Feb 2023UK£27.3bUK£13.9bUK£1.2b17.4x23x2x
Price to Earnings Ratio

23x


Total Market Cap: UK£27.3bTotal Earnings: UK£1.2bTotal Revenue: UK£13.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Machinery Industry Price to Earnings3Y Average 22.2x202420252026
Current Industry PE
  • Investors are optimistic on the British Machinery industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 31.7x which is higher than its 3-year average PE of 22.1x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have declined 5.6% per year over the last three years,
  • Revenues have also declined 4.2% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the U.K. Industrials industry?

GB Market0.53%
Industrials-0.34%
Machinery4.12%
Industrial Machinery4.14%
Construction Machinery and Vehicles-2.27%
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 15.0%, which is higher than its past year's earnings decline of 9.4% 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 9.9x.
Forecasted Growth
  • Analysts are most optimistic on the Industrial Machinery industry, expecting annual earnings growth of 15% over the next 5 years.
  • This is better than its past earnings decline of 9.4% per year.
  • In contrast, the Industrial Machinery industry is expected to see its earnings grow by 15% 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
SPX Spirax GroupUK£78.207.3%
+UK£394.3m		0.7%PE35.4x
WEIR Weir GroupUK£34.823.8%
+UK£329.7m		50.6%PE28.9x
ROR RotorkUK£3.743.5%
+UK£102.0m		11.8%PE30.9x
IMI IMIUK£28.520.9%
+UK£63.8m		47.3%PE29.3x
BOY BodycoteUK£7.823.2%
+UK£42.1m		20.0%PE47.3x

Latest News

PRV
UK£8.56
Porvair
7D
-1.8%
1Y
20.6%
GDWN
UK£276.00
Goodwin
7D
0.7%
1Y
285.5%

Goodwin (LON:GDWN) Has A Rock Solid Balance Sheet

Feb 09
Goodwin (LON:GDWN) Has A Rock Solid Balance Sheet
MGAM
UK£2.41
Morgan Advanced Materials
7D
4.8%
1Y
-11.6%

MGAM: Portfolio Actions And Higher Margin Framework Will Support Future Upside Potential

Analysts have raised their price target on Morgan Advanced Materials to £2.65 per share, citing updated assumptions around the discount rate, profit margin, and future P/E ratio as the main drivers of the change. Analyst Commentary Recent Street research on Morgan Advanced Materials has centered on the updated price target of £2.65 per share, with bullish analysts highlighting how their refreshed assumptions feed into this valuation.
VSVS
UK£4.73
Vesuvius
7D
1.1%
1Y
15.3%

VSVS: Robust Q3 Update And 2025 Guidance Will Support Mixed Rating Reactions

Our updated view on Vesuvius edges the fair value estimate slightly higher to 4.76. This reflects a series of recent analyst price target increases to £4.40, £4.60 and £5.50, supported by what they describe as a robust Q3 trading update and a fresh upgrade at a major European bank.
SPX
UK£78.20
Spirax Group
7D
7.3%
1Y
0.7%

SPX: Reaffirmed Guidance And Refined P/E Assumptions Will Shape Future Share Price

Analysts have nudged their price target on Spirax Group higher by £3.50, citing updated fair value estimates, a slightly adjusted discount rate, and refreshed revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Analysts raising their fair value estimates on Spirax Group are essentially saying that, based on their refreshed models, they now see more headroom in the shares than before.
WEIR
UK£34.82
Weir Group
7D
3.8%
1Y
50.6%

WEIR: Minerals Aftermarket Delivery And M&A Will Shape Balanced Future Execution

The analyst price target for Weir Group edges higher to £32.21 from £31.78, with analysts pointing to recent target increases from several banks and updated P/E and margin assumptions to support the revised view. Analyst Commentary Recent Street research has clustered around higher price targets for Weir Group, with several bullish analysts recalibrating their models to reflect revised P/E and margin assumptions.
JDG
UK£49.60
Judges Scientific
7D
-0.8%
1Y
-30.5%

JDG: Leadership Change And Higher Future P/E Will Support Long Term Upside

Analysts have reduced their price target on Judges Scientific from £67.36 to £60.63, citing updated assumptions around slightly softer revenue growth, slimmer profit margins, a higher discount rate, and a richer future P/E multiple. Analyst Commentary Recent research has focused on how updated assumptions around revenue growth, margins, and valuation multiples affect the risk and reward profile for Judges Scientific.
ROR
UK£3.74
Rotork
7D
3.5%
1Y
11.8%

ROR: Fair Outlook Will Depend On Margin Delivery And Share Buyback Execution

Analysts have nudged their price target for Rotork higher to about £3.92 from £3.88, reflecting updated assumptions around discount rates, future P/E and margins, as well as recent positive research that includes a £0.35 price target increase from one firm and a more constructive stance from another. Analyst Commentary Recent research points to a generally more constructive tone around Rotork, with some variation in how confident analysts feel about execution and valuation at current levels.
XSG
UK£0.015
Xeros Technology Group
7D
-7.8%
1Y
37.2%
BOY
UK£7.82
Bodycote
7D
3.2%
1Y
20.0%

BOY: H2 Profit Outlook And Raised P/E Assumptions Will Shape Future Multiple

Analysts have lifted their price target for Bodycote by £1.00, citing updated assumptions on fair value, discount rate and future P/E, alongside recent Street research support for the stock. Analyst Commentary Bullish Takeaways Bullish analysts point to the raised price target of £1.00 as support for their updated fair value assumptions, suggesting they see the current share price as not fully reflecting Bodycote’s earnings potential.
EQT
UK£0.00052
EQTEC
7D
-12.5%
1Y
-88.7%
IMI
UK£28.52
IMI
7D
0.9%
1Y
47.3%

IMI: Reconfirmed 2025 Guidance And Organic Expansion Will Support Fair Value Outlook

Analysts have raised their price target on IMI to €28.50 from €27.88, citing slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E as the main drivers of the change. What's in the News IMI reconfirmed earnings guidance for the full year 2025, signaling no change to management's outlook for the period (Key Developments).
LSC
UK£28.00
London Security
7D
-1.8%
1Y
-21.1%
CPH2
UK£0.045
Clean Power Hydrogen
7D
-1.1%
1Y
-38.8%