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U.K. (FTSE) Machinery Industry Analysis

UpdatedJan 14, 2026
DataAggregated Company Financials
Companies20
  • 7D1.8%
  • 3M10.4%
  • 1Y26.9%
  • YTD4.3%

In the last week, the Machinery industry is up 3.8%, with IMI leading the way, up 3.5%. This means that the industry has gained 27% over the past year. Earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 14 Jan 2026UK£28.6bUK£12.2bUK£998.6m26.9x28.6x2.3x
Fri, 12 Dec 2025UK£27.3bUK£12.2bUK£983.4m24.4x27.7x2.2x
Sun, 09 Nov 2025UK£27.1bUK£12.2bUK£983.4m24x27.5x2.2x
Tue, 07 Oct 2025UK£27.0bUK£12.4bUK£997.9m23.7x27.1x2.2x
Thu, 04 Sep 2025UK£25.2bUK£12.4bUK£1.0b22.9x24.8x2x
Sat, 02 Aug 2025UK£24.2bUK£12.5bUK£1.1b23x22.1x1.9x
Mon, 30 Jun 2025UK£24.3bUK£12.5bUK£1.1b22.6x22.6x1.9x
Wed, 28 May 2025UK£23.0bUK£12.5bUK£1.1b22.4x21.4x1.8x
Fri, 25 Apr 2025UK£21.7bUK£12.5bUK£1.1b20.4x19.9x1.7x
Sun, 23 Mar 2025UK£23.7bUK£12.5bUK£1.1b20.3x21.7x1.9x
Tue, 18 Feb 2025UK£25.2bUK£12.6bUK£1.1b21.9x23.1x2x
Thu, 16 Jan 2025UK£23.5bUK£12.6bUK£1.1b21.6x21.5x1.9x
Sat, 14 Dec 2024UK£24.3bUK£12.6bUK£1.1b21.8x22.2x1.9x
Mon, 11 Nov 2024UK£20.3bUK£12.6bUK£1.1b19.5x18.5x1.6x
Wed, 09 Oct 2024UK£23.5bUK£12.6bUK£1.1b21.1x21.4x1.9x
Fri, 06 Sep 2024UK£23.6bUK£12.6bUK£1.1b20.5x21.6x1.9x
Sun, 04 Aug 2024UK£24.6bUK£12.6bUK£1.1b20x23.2x2x
Tue, 02 Jul 2024UK£24.9bUK£12.8bUK£1.1b19.2x22.8x1.9x
Thu, 30 May 2024UK£26.0bUK£12.8bUK£1.1b20.3x23.6x2x
Sat, 27 Apr 2024UK£25.1bUK£12.8bUK£1.1b18.9x22.7x2x
Mon, 25 Mar 2024UK£26.6bUK£12.8bUK£1.1b19.1x24x2.1x
Wed, 21 Feb 2024UK£25.4bUK£12.9bUK£1.2b17.6x21.2x2x
Fri, 19 Jan 2024UK£25.6bUK£15.8bUK£1.3b17.3x19.3x1.6x
Sun, 17 Dec 2023UK£26.2bUK£15.8bUK£1.3b16.8x19.7x1.7x
Tue, 14 Nov 2023UK£24.0bUK£15.8bUK£1.3b16.1x18.1x1.5x
Thu, 12 Oct 2023UK£24.6bUK£15.8bUK£1.3b16.2x18.6x1.6x
Sat, 09 Sep 2023UK£25.6bUK£15.8bUK£1.3b16x19.3x1.6x
Mon, 07 Aug 2023UK£26.4bUK£15.6bUK£1.3b16.9x19.8x1.7x
Wed, 05 Jul 2023UK£25.6bUK£15.2bUK£1.3b17.5x19.3x1.7x
Fri, 02 Jun 2023UK£26.3bUK£15.2bUK£1.3b17.1x19.8x1.7x
Sun, 30 Apr 2023UK£26.8bUK£15.1bUK£1.3b18x20.1x1.8x
Tue, 28 Mar 2023UK£26.2bUK£15.1bUK£1.3b16.6x19.9x1.7x
Thu, 23 Feb 2023UK£27.0bUK£13.9bUK£1.2b16.3x22.7x1.9x
Sat, 21 Jan 2023UK£25.3bUK£12.2bUK£1.1b18x23.6x2.1x
Price to Earnings Ratio

23.6x


Total Market Cap: UK£25.3bTotal Earnings: UK£1.1bTotal Revenue: UK£12.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Machinery Industry Price to Earnings3Y Average 22x202420252026
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 28.8x which is higher than its 3-year average PE of 22.0x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have declined 2.4% 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 U.K. Industrials industry?

GB Market0.19%
Industrials2.52%
Machinery1.84%
Industrial Machinery1.85%
Construction Machinery and Vehicles-0.92%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 22.2x.
    • Analysts are expecting annual earnings growth of 15.7%, 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 16% 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 16% 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
IMI IMIUK£26.223.5%
+UK£215.5m		43.9%PE26.9x
WEIR Weir GroupUK£30.302.7%
+UK£206.1m		39.8%PE25.2x
SPX Spirax GroupUK£70.150.7%
+UK£36.9m		9.0%PE31.8x
BOY BodycoteUK£7.401.9%
+UK£24.7m		19.5%PE46x
PRV PorvairUK£8.745.3%
+UK£20.4m		26.7%PE23.9x

Latest News

JDG
UK£57.60
Judges Scientific
7D
-0.7%
1Y
-23.2%
IMI
UK£26.22
IMI
7D
3.5%
1Y
43.9%

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

Analysts have made a small upward adjustment to their price target for IMI, now implying fair value of about $27.88 compared with $27.81 previously. This reflects slightly higher assumptions for revenue growth, profit margins and the discount rate, alongside a largely unchanged future P/E.
GDWN
UK£229.00
Goodwin
7D
-2.1%
1Y
206.1%

Under The Bonnet, Goodwin's (LON:GDWN) Returns Look Impressive

Jan 12
Under The Bonnet, Goodwin's (LON:GDWN) Returns Look Impressive
AVG
UK£5.43
Avingtrans
7D
10.7%
1Y
37.3%
SPX
UK£70.15
Spirax Group
7D
0.7%
1Y
9.0%

Estimating The Fair Value Of Spirax Group plc (LON:SPX)

Jan 12
Estimating The Fair Value Of Spirax Group plc (LON:SPX)
MGAM
UK£2.29
Morgan Advanced Materials
7D
2.2%
1Y
-8.8%

MGAM: Future Capital Discipline And Portfolio Moves Will Support Upside Potential

Analysts have reduced their price target for Morgan Advanced Materials to £2.05 per share from £2.35, citing updated assumptions about fair value, discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Recent research points to a more cautious stance on Morgan Advanced Materials, with the price target set at £2.05 per share and a Hold rating maintained.
VSVS
UK£4.15
Vesuvius
7D
1.4%
1Y
5.1%

VSVS: Robust Q3 Update And 2025 Guidance Will Support Balanced Repricing Potential

Our analyst price target for Vesuvius has edged higher to reflect a mix of revised Street targets, with some firms trimming expectations and others lifting theirs into the £4.40 to £5.50 range, as analysts respond to recent Q3 trading commentary and updated company outlooks. Analyst Commentary Recent Street research on Vesuvius shows a mix of higher and lower price targets, with views split between those who see the recent Q3 trading update as supportive for the equity story and those who prefer to stay cautious on execution and valuation.
WEIR
UK£30.30
Weir Group
7D
2.7%
1Y
39.8%

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

Our analyst price target for Weir Group is unchanged. This reflects a balance between a higher Street target from £29.50 to £33.00 and a £29.00 target paired with a downgrade to Neutral, with analysts pointing to limited near term upside given recent order patterns and the higher bar for Q4 Minerals Aftermarket performance.
BOY
UK£7.40
Bodycote
7D
1.9%
1Y
19.5%

BOY: Higher Profit Outlook And Programmes Will Support Future Share Upside

Analysts have trimmed their fair value estimate for Bodycote to about £9.15 from £8.45, reflecting a slightly lower Street price target of £6.00 and updated assumptions around the discount rate, revenue growth, profit margin and future P/E multiples. Analyst Commentary Recent Street commentary on Bodycote has been relatively cautious, with the headline move being a small reduction in one major bank's price target to 600 GBp from 610 GBp, alongside a Neutral rating.
PRV
UK£8.74
Porvair
7D
5.3%
1Y
26.7%
XSG
UK£0.018
Xeros Technology Group
7D
-4.1%
1Y
233.3%
MPAC
UK£3.20
Mpac Group
7D
-0.8%
1Y
-37.0%

Mpac Group plc's (LON:MPAC) Price Is Right But Growth Is Lacking After Shares Rocket 26%

Oct 31
Mpac Group plc's (LON:MPAC) Price Is Right But Growth Is Lacking After Shares Rocket 26%
EQT
UK£0.00055
EQTEC
7D
-8.3%
1Y
-88.4%
SOM
UK£2.15
Somero Enterprises
7D
-0.9%
1Y
-31.2%