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U.K. (FTSE) Machinery Industry Analysis

UpdatedJan 27, 2026
DataAggregated Company Financials
Companies20
  • 7D3.5%
  • 3M8.3%
  • 1Y22.4%
  • YTD9.5%

The Machinery industry is up 3.5% in the last week, with Weir Group up 6.4%. Meanwhile, Judges Scientific actually underperformed within the industry, shrinking 9.7% in the last week. In the last 12 months, the industry was up 22%. 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, 28 Jan 2026UK£30.0bUK£12.2bUK£998.4m28x30.1x2.5x
Fri, 26 Dec 2025UK£27.1bUK£12.2bUK£998.5m23.9x27.1x2.2x
Sun, 23 Nov 2025UK£26.2bUK£12.2bUK£983.6m24.2x26.6x2.1x
Tue, 21 Oct 2025UK£26.3bUK£12.4bUK£998.5m23.6x26.3x2.1x
Thu, 18 Sep 2025UK£25.5bUK£12.4bUK£1.0b23.2x25.3x2.1x
Sat, 16 Aug 2025UK£25.0bUK£12.4bUK£1.0b23x24.7x2x
Mon, 14 Jul 2025UK£24.4bUK£12.5bUK£1.1b23.8x22.5x2x
Wed, 11 Jun 2025UK£23.8bUK£12.5bUK£1.1b23.1x22.2x1.9x
Fri, 09 May 2025UK£22.9bUK£12.5bUK£1.1b22.9x21.3x1.8x
Sun, 06 Apr 2025UK£20.8bUK£12.5bUK£1.1b19.5x19.1x1.7x
Tue, 04 Mar 2025UK£25.0bUK£12.6bUK£1.2b20.9x21.4x2x
Thu, 30 Jan 2025UK£25.4bUK£12.6bUK£1.1b22.2x23.2x2x
Sat, 28 Dec 2024UK£23.7bUK£12.6bUK£1.1b21.8x21.6x1.9x
Mon, 25 Nov 2024UK£23.4bUK£12.6bUK£1.1b21.5x21.4x1.9x
Wed, 23 Oct 2024UK£23.1bUK£12.6bUK£1.1b20.3x21.1x1.8x
Fri, 20 Sep 2024UK£24.6bUK£12.6bUK£1.1b20.4x22.5x2x
Sun, 18 Aug 2024UK£23.9bUK£12.6bUK£1.1b20.7x21.8x1.9x
Tue, 16 Jul 2024UK£25.7bUK£12.8bUK£1.1b20x23.5x2x
Thu, 13 Jun 2024UK£25.4bUK£12.8bUK£1.1b20.2x23x2x
Sat, 11 May 2024UK£26.5bUK£12.8bUK£1.1b20.3x24.1x2.1x
Mon, 08 Apr 2024UK£25.7bUK£12.8bUK£1.1b18.9x23.3x2x
Wed, 06 Mar 2024UK£25.4bUK£12.8bUK£1.1b18.5x22.2x2x
Fri, 02 Feb 2024UK£26.3bUK£15.8bUK£1.3b17.2x19.8x1.7x
Sun, 31 Dec 2023UK£26.7bUK£15.8bUK£1.3b17.2x20.1x1.7x
Tue, 28 Nov 2023UK£24.9bUK£15.8bUK£1.3b16.8x18.8x1.6x
Thu, 26 Oct 2023UK£23.0bUK£15.8bUK£1.3b15.4x17.3x1.5x
Sat, 23 Sep 2023UK£25.3bUK£15.8bUK£1.3b15.8x19.1x1.6x
Mon, 21 Aug 2023UK£24.9bUK£15.8bUK£1.3b15.8x18.7x1.6x
Wed, 19 Jul 2023UK£26.3bUK£15.2bUK£1.3b17.6x19.9x1.7x
Fri, 16 Jun 2023UK£27.0bUK£15.2bUK£1.3b17x20.3x1.8x
Sun, 14 May 2023UK£26.7bUK£15.1bUK£1.3b17.7x20.1x1.8x
Tue, 11 Apr 2023UK£26.1bUK£15.1bUK£1.3b16.5x19.8x1.7x
Thu, 09 Mar 2023UK£27.7bUK£14.8bUK£1.3b16.8x21.1x1.9x
Sat, 04 Feb 2023UK£27.7bUK£13.9bUK£1.2b17x23.3x2x
Price to Earnings Ratio

23.3x


Total Market Cap: UK£27.7bTotal Earnings: UK£1.2bTotal Revenue: UK£13.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Machinery Industry Price to Earnings3Y Average 22.1x202420252026
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 30.1x 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 2.5x.
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 Market0.082%
Industrials-2.06%
Machinery3.52%
Industrial Machinery3.53%
Construction Machinery and Vehicles2.86%
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 15.2%, 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
WEIR Weir GroupUK£32.766.4%
+UK£504.8m		38.6%PE27.2x
SPX Spirax GroupUK£73.905.3%
+UK£272.7m		-7.2%PE33.5x
IMI IMIUK£27.143.7%
+UK£240.3m		39.6%PE27.9x
GDWN GoodwinUK£261.008.3%
+UK£150.2m		260.5%PE49.4x
VSVS VesuviusUK£4.7212.0%
+UK£123.6m		16.6%PE16.4x

Latest News

IMI
UK£27.14
IMI
7D
3.7%
1Y
39.6%

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).
MGAM
UK£2.33
Morgan Advanced Materials
7D
2.6%
1Y
-12.9%

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

Analysts have raised their price target on Morgan Advanced Materials to £2.65 per share, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Bullish analysts see the revised £2.65 price target as a fresh reference point for what they view as fair value, based on updated assumptions for discount rate, revenue growth, profit margins and future P/E.
VSVS
UK£4.72
Vesuvius
7D
12.0%
1Y
16.6%

VSVS: Robust Q3 Update And 2025 Guidance Will Shape Balanced Repricing Outlook

Analysts have nudged their price targets on Vesuvius higher, reflected in our fair value estimate moving from 4.57 to 4.75. This is supported by recent target increases from Jefferies, Deutsche Bank, Berenberg, BNP Paribas and JPMorgan, alongside slightly adjusted assumptions for revenue growth, discount rate, profit margin and future P/E.
SPX
UK£73.90
Spirax Group
7D
5.3%
1Y
-7.2%

SPX: Reaffirmed Guidance And Premium P/E Expectations Will Shape Future Share Price

Our updated narrative for Spirax Group reflects a slightly higher fair value, now £78.24 from £77.42, supported by analysts raising price targets in the £7,400 to £10,500 range and focusing on steady revenue growth assumptions alongside a marginally higher future P/E multiple. Analyst Commentary Recent Street research around Spirax Group clusters around higher price targets and a reassessment of the risk or reward trade off as the share price and earnings expectations evolve.
WEIR
UK£32.76
Weir Group
7D
6.4%
1Y
38.6%

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

The updated analyst price target for Weir Group has moved slightly higher to £31.78 from £31.23. This change reflects recent target increases reported by several banks and analyst expectations for higher revenue growth and a modestly higher future P/E, partly offset by slightly lower profit margin assumptions.
JDG
UK£52.00
Judges Scientific
7D
-9.7%
1Y
-26.8%

JDG: Leadership Transition In 2026 Will Support Future Cash Generation Focus

Analysts have revised their implied fair value for Judges Scientific to £67.36 from £87.56, citing updates to discount rate assumptions, revenue growth expectations, profit margin outlook, and a higher future P/E multiple in their models. What's in the News Founder and Chief Executive Officer David Cicurel has informed the Board that he plans to step back from his role as CEO on 9 February 2026, after more than 20 years leading Judges Scientific and shaping its decentralised group of niche scientific businesses (Key Developments).
ROR
UK£3.53
Rotork
7D
3.5%
1Y
4.9%

ROR: Raised Price View Will Rely On Sustained Earnings Multiple

Analysts have increased their price target on Rotork, with one recent move adding £0.35. This reflects updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E expectations.
PRV
UK£8.70
Porvair
7D
-1.6%
1Y
29.9%
BOY
UK£7.57
Bodycote
7D
2.6%
1Y
21.9%

BOY: Future Multiple Expansion Will Rely On H2 Margin Resilience

Analysts have lowered their price target for Bodycote to £6.00 from £6.10, with the modest reduction accompanied by a slightly higher fair value estimate and updated assumptions for revenue growth, profit margins and future P/E. Analyst Commentary JPMorgan has taken its price target for Bodycote down slightly to £6.00 from £6.10, while maintaining a Neutral stance.
GDWN
UK£261.00
Goodwin
7D
8.3%
1Y
260.5%

Why Investors Shouldn't Be Surprised By Goodwin PLC's (LON:GDWN) 29% Share Price Surge

Jan 16
Why Investors Shouldn't Be Surprised By Goodwin PLC's (LON:GDWN) 29% Share Price Surge
XSG
UK£0.016
Xeros Technology Group
7D
-1.6%
1Y
200.0%
CPH2
UK£0.052
Clean Power Hydrogen
7D
-8.7%
1Y
-31.4%
MCON
UK£0.44
Mincon Group
7D
-1.1%
1Y
22.2%
EQT
UK£0.00095
EQTEC
7D
-26.9%
1Y
-79.1%