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U.K. (FTSE) Machinery Industry Analysis

UpdatedMar 21, 2026
DataAggregated Company Financials
Companies20
  • 7D-5.2%
  • 3M-3.8%
  • 1Y12.1%
  • YTD-4.6%

Over the last 7 days, the Machinery industry has dropped 5.2%, driven by a pullback from Weir Group of 6.5%. Over the past 12 months, the industry was up 12%. Earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 22 Mar 2026UK£26.1bUK£12.4bUK£1.0b22.2x26.1x2.1x
Tue, 17 Feb 2026UK£31.6bUK£12.2bUK£999.6m29x31.6x2.6x
Thu, 15 Jan 2026UK£28.7bUK£12.2bUK£998.6m26.8x28.7x2.3x
Sat, 13 Dec 2025UK£27.0bUK£12.2bUK£983.4m24.4x27.4x2.2x
Mon, 10 Nov 2025UK£27.1bUK£12.2bUK£983.4m24x27.5x2.2x
Wed, 08 Oct 2025UK£26.6bUK£12.4bUK£997.9m23.4x26.7x2.1x
Fri, 05 Sep 2025UK£25.3bUK£12.4bUK£1.0b22.9x24.9x2x
Sun, 03 Aug 2025UK£24.2bUK£12.5bUK£1.1b23x22.3x1.9x
Tue, 01 Jul 2025UK£24.0bUK£12.5bUK£1.1b22.1x22.4x1.9x
Thu, 29 May 2025UK£23.0bUK£12.5bUK£1.1b22.5x21.4x1.8x
Sat, 26 Apr 2025UK£21.9bUK£12.5bUK£1.1b20.4x20.1x1.7x
Mon, 24 Mar 2025UK£23.7bUK£12.5bUK£1.1b20.3x21.7x1.9x
Wed, 19 Feb 2025UK£25.4bUK£12.6bUK£1.1b22.1x23.2x2x
Fri, 17 Jan 2025UK£24.0bUK£12.6bUK£1.1b22x22x1.9x
Sun, 15 Dec 2024UK£24.3bUK£12.6bUK£1.1b21.8x22.2x1.9x
Tue, 12 Nov 2024UK£20.5bUK£12.6bUK£1.1b19.6x18.7x1.6x
Thu, 10 Oct 2024UK£23.7bUK£12.6bUK£1.1b21.1x21.6x1.9x
Sat, 07 Sep 2024UK£23.4bUK£12.6bUK£1.1b20.8x21.4x1.9x
Mon, 05 Aug 2024UK£24.6bUK£12.6bUK£1.1b20x23.2x2x
Wed, 03 Jul 2024UK£24.9bUK£12.8bUK£1.1b18.8x22.8x1.9x
Fri, 31 May 2024UK£26.3bUK£12.8bUK£1.1b20.4x23.8x2.1x
Sun, 28 Apr 2024UK£25.1bUK£12.8bUK£1.1b18.9x22.7x2x
Tue, 26 Mar 2024UK£26.0bUK£12.8bUK£1.1b19x23.5x2x
Thu, 22 Feb 2024UK£25.4bUK£12.9bUK£1.2b17.6x21.2x2x
Sat, 20 Jan 2024UK£25.5bUK£15.8bUK£1.3b17.2x19.2x1.6x
Mon, 18 Dec 2023UK£26.2bUK£15.8bUK£1.3b16.8x19.7x1.7x
Wed, 15 Nov 2023UK£24.4bUK£15.8bUK£1.3b16.1x18.5x1.5x
Fri, 13 Oct 2023UK£24.6bUK£15.8bUK£1.3b16.7x18.6x1.6x
Sun, 10 Sep 2023UK£25.6bUK£15.8bUK£1.3b16x19.3x1.6x
Tue, 08 Aug 2023UK£26.3bUK£15.6bUK£1.3b17x19.8x1.7x
Thu, 06 Jul 2023UK£25.4bUK£15.2bUK£1.3b17.3x19.1x1.7x
Sat, 03 Jun 2023UK£26.8bUK£15.2bUK£1.3b16.9x20.2x1.8x
Mon, 01 May 2023UK£26.8bUK£15.1bUK£1.3b18x20.1x1.8x
Wed, 29 Mar 2023UK£26.2bUK£15.1bUK£1.3b16.6x19.8x1.7x
Price to Earnings Ratio

19.8x


Total Market Cap: UK£26.2bTotal Earnings: UK£1.3bTotal Revenue: UK£15.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Machinery Industry Price to Earnings3Y Average 22.5x202420252026
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 26.1x which is higher than its 3-year average PE of 22.5x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.1x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have declined 8.8% per year over the last three years,
  • Revenues have also declined 6.2% 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 Market-3.50%
Industrials-3.64%
Machinery-5.24%
Construction Machinery and Vehicles-2.93%
Industrial Machinery-5.24%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 22.6x.
    • Analysts are expecting annual earnings growth of 12.6%, which is higher than its past year's earnings growth of 10.8% 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 10.1x.
Forecasted Growth
  • Analysts are most optimistic on the Industrial Machinery industry, expecting annual earnings growth of 13% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • 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
LSC London SecurityUK£24.700.8%
+UK£2.5m		-31.4%PE14.6x
MCON Mincon GroupUK£0.600.8%
+UK£1.1m		69.0%PE30.6x

Latest News

BOY
UK£6.17
Bodycote
7D
-6.7%
1Y
9.0%

BOY: Higher P/E Framework And Bolt On Deals Will Shape Future Multiple

Analysts have lifted the fair value estimate for Bodycote by £0.14 per share, with higher price targets from several firms supported by updated assumptions on revenue growth, margins and P/E, even as views on valuation remain mixed. Analyst Commentary Recent Street research on Bodycote shows a mix of optimism and caution, with target prices adjusted but views on upside versus risk still divided.
IMI
UK£25.62
IMI
7D
-3.0%
1Y
30.3%

IMI: Share Buybacks And M&A Discipline Will Shape A Balanced Outlook

Analysts have adjusted their price target on IMI to £29.91 from £29.03, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E levels. What's in the News Board of Directors authorized a share buyback plan on 6 March 2026, signaling approval for capital to be used to repurchase shares (Buyback Transaction Announcements).
VSVS
UK£3.92
Vesuvius
7D
-7.6%
1Y
-0.9%
SPX
UK£64.35
Spirax Group
7D
-5.6%
1Y
-4.0%
MCON
UK£0.60
Mincon Group
7D
0.8%
1Y
69.0%
GDWN
UK£229.00
Goodwin
7D
-6.9%
1Y
249.1%
ROR
UK£3.03
Rotork
7D
-3.6%
1Y
-4.1%
MGAM
UK£1.87
Morgan Advanced Materials
7D
-7.9%
1Y
-8.8%

MGAM: Higher Implied P/E Framework Will Support Future Upside Potential

Analysts have lifted their average price targets for Morgan Advanced Materials to a range of about £2.10 to £2.65 per share, reflecting updated views on revenue growth, margins and an assumed future P/E of roughly 14x. Analyst Commentary Recent Street research on Morgan Advanced Materials has centered on price target adjustments in a relatively tight range, with reference points moving to £2.10 and £2.65 per share.
WEIR
UK£26.58
Weir Group
7D
-6.5%
1Y
12.5%

WEIR: Higher Assumed P/E Multiple Will Shape Future Upside Potential

The updated analyst price target for Weir Group moves to £3,388 from £3,296, with analysts pointing to recent target increases from several banks and a modestly higher assumed future P/E multiple as key drivers. Analyst Commentary Bullish Takeaways Bullish analysts have lifted price targets into a £3,700 to £3,800 range, which sits above the updated blended target of £3,388, signaling that some see additional upside potential embedded in current assumptions.
LSC
UK£24.70
London Security
7D
0.8%
1Y
-31.4%