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U.K. (FTSE) Machinery Industry Analysis

UpdatedMay 09, 2026
DataAggregated Company Financials
Companies20
  • 7D1.0%
  • 3M-13.5%
  • 1Y19.2%
  • YTD-1.8%

Over the last 7 days, the Machinery industry has risen 1.0%, driven by gains from Spirax Group of 4.9%. This takes the industry's 12 month performance to a gain of 19%. As for the next few years, earnings are expected to grow by 13% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 10 May 2026UK£26.8bUK£12.4bUK£998.4m22.5x26.8x2.2x
Tue, 07 Apr 2026UK£26.6bUK£12.4bUK£1.0b22.9x26.5x2.1x
Thu, 05 Mar 2026UK£29.7bUK£12.2bUK£969.9m27.1x30.6x2.4x
Sat, 31 Jan 2026UK£30.0bUK£12.2bUK£998.4m28.4x30.1x2.5x
Mon, 29 Dec 2025UK£27.1bUK£12.2bUK£998.5m23.9x27.1x2.2x
Wed, 26 Nov 2025UK£26.4bUK£12.2bUK£983.6m24.2x26.8x2.2x
Fri, 24 Oct 2025UK£26.9bUK£12.4bUK£998.5m23.9x27x2.2x
Sun, 21 Sep 2025UK£25.7bUK£12.4bUK£1.0b23.4x25.5x2.1x
Tue, 19 Aug 2025UK£25.0bUK£12.4bUK£1.0b23.1x24.7x2x
Thu, 17 Jul 2025UK£24.3bUK£12.5bUK£1.1b23.1x22.4x1.9x
Sat, 14 Jun 2025UK£23.9bUK£12.5bUK£1.1b23.2x22.3x1.9x
Mon, 12 May 2025UK£22.9bUK£12.5bUK£1.1b22.7x21.3x1.8x
Wed, 09 Apr 2025UK£20.7bUK£12.5bUK£1.1b19.4x19x1.7x
Fri, 07 Mar 2025UK£25.2bUK£12.6bUK£1.2b20.7x21.5x2x
Sun, 02 Feb 2025UK£25.8bUK£12.6bUK£1.1b22.8x23.6x2x
Tue, 31 Dec 2024UK£23.6bUK£12.6bUK£1.1b21.6x21.5x1.9x
Thu, 28 Nov 2024UK£23.4bUK£12.6bUK£1.1b21.5x21.4x1.9x
Sat, 26 Oct 2024UK£22.8bUK£12.6bUK£1.1b20x20.8x1.8x
Mon, 23 Sep 2024UK£23.9bUK£12.6bUK£1.1b20.4x21.7x1.9x
Wed, 21 Aug 2024UK£23.8bUK£12.6bUK£1.1b20.7x21.7x1.9x
Fri, 19 Jul 2024UK£25.9bUK£12.8bUK£1.1b20.1x23.7x2x
Sun, 16 Jun 2024UK£25.0bUK£12.8bUK£1.1b19.9x22.6x2x
Tue, 14 May 2024UK£26.3bUK£12.8bUK£1.1b20.1x23.8x2.1x
Thu, 11 Apr 2024UK£26.0bUK£12.8bUK£1.1b19.1x23.6x2x
Sat, 09 Mar 2024UK£26.0bUK£12.8bUK£1.1b18x23.2x2x
Mon, 05 Feb 2024UK£26.2bUK£15.8bUK£1.3b17.2x19.8x1.7x
Wed, 03 Jan 2024UK£26.4bUK£15.8bUK£1.3b17.2x19.9x1.7x
Fri, 01 Dec 2023UK£24.9bUK£15.8bUK£1.3b16.6x18.8x1.6x
Sun, 29 Oct 2023UK£22.8bUK£15.8bUK£1.3b14.9x17.2x1.4x
Tue, 26 Sep 2023UK£25.2bUK£15.8bUK£1.3b16.1x19x1.6x
Thu, 24 Aug 2023UK£24.9bUK£15.8bUK£1.3b16x18.7x1.6x
Sat, 22 Jul 2023UK£26.6bUK£15.2bUK£1.3b17.5x20.2x1.8x
Mon, 19 Jun 2023UK£26.8bUK£15.2bUK£1.3b17.1x20.2x1.8x
Wed, 17 May 2023UK£26.7bUK£15.1bUK£1.3b17.9x20.2x1.8x
Price to Earnings Ratio

20.2x


Total Market Cap: UK£26.7bTotal Earnings: UK£1.3bTotal Revenue: UK£15.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Machinery Industry Price to Earnings3Y Average 22.8x202420252026
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 26.8x which is higher than its 3-year average PE of 22.8x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.2x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have declined 9.0% per year over the last three years,
  • Revenues have also declined 6.3% 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-0.81%
Industrials-1.23%
Machinery1.04%
Industrial Machinery1.04%
Construction Machinery and Vehicles0%0
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 22.9x.
    • Analysts are expecting annual earnings growth of 13.1%, 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 10.4x.
Forecasted Growth
  • Analysts are most optimistic on the Industrial Machinery industry, expecting annual earnings growth of 13% over the next 5 years.
  • This is better than its past earnings growth rate of 11% per year.
  • 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
SPX Spirax GroupUK£74.464.9%
+UK£256.8m		20.9%PE33.6x
IMI IMIUK£27.801.6%
+UK£102.8m		49.0%PE21.6x
VSVS VesuviusUK£4.585.0%
+UK£53.2m		29.0%PE21.6x
BOY BodycoteUK£7.034.2%
+UK£48.0m		34.2%PE21.9x
MGAM Morgan Advanced MaterialsUK£2.274.6%
+UK£27.6m		11.3%PS0.6x

Latest News

FORG
UK£0.00015
Forgent
7D
-3.3%
1Y
-97.9%
SPX
UK£74.46
Spirax Group
7D
4.9%
1Y
20.9%
Narrative Update • May 07

SPX: Higher Dividend Commitment Will Test Rich P E Against Execution Risks

Analysts have raised their Spirax Group price target to £6,800 from £6,000, citing updated assumptions on discount rate, revenue growth, profit margin and future P/E, supported by recent positive research commentary. Analyst Commentary Recent research has highlighted a split view on Spirax Group, with some positive rating changes but also a clear pocket of caution around valuation, growth assumptions and execution risks.
VSVS
UK£4.58
Vesuvius
7D
5.0%
1Y
29.0%
Narrative Update • May 06

VSVS: Higher Fair Value Assumptions Will Support More Constructive Price Reassessment

Narrative Update on Vesuvius The analyst price target for Vesuvius has been adjusted to reflect a mixed set of recent views, including a £0.20 reduction from Jefferies and an increase to £4.40 from £3.90 at JPMorgan. Analysts attribute these changes to updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E.
IMI
UK£27.80
IMI
7D
1.6%
1Y
49.0%
WEIR
UK£25.00
Weir Group
7D
-3.8%
1Y
4.3%
Narrative Update • May 03

WEIR: M&A Execution And Margin Expansion Will Support Higher Future P/E

The analyst price target for Weir Group has been trimmed slightly to £33.55 from £34.09, reflecting recent mixed target revisions, where some banks raised their targets into the £3,200 to £3,800 range while others issued modest cuts. Analysts now factor in marginally lower revenue growth and profit margin assumptions, alongside a slightly higher future P/E multiple.
BOY
UK£7.03
Bodycote
7D
4.2%
1Y
34.2%
Narrative Update • Apr 29

BOY: Acquisition Program And Margin Discipline Will Support Future Share Upside

Analysts have trimmed their average price target for Bodycote to £9.05 per share, reflecting a blend of slightly higher assumed discount rates, modest revenue growth expectations, a lower profit margin outlook, and mixed recent Street views that include both a £0.30 uplift from JPMorgan and a cut from Jefferies alongside an unchanged £7.75 target from RBC Capital. Analyst Commentary Recent Street research on Bodycote presents a mixed picture, but there are several clear positives that more optimistic analysts are focusing on.
MGAM
UK£2.27
Morgan Advanced Materials
7D
4.6%
1Y
11.3%
Narrative Update • Apr 26

MGAM: Higher P/E Assumptions And Refined Earnings Views Will Support Upside

Narrative Update: Morgan Advanced Materials The analyst price target for Morgan Advanced Materials has shifted within a range of around £2.10 to £2.35 per share, as analysts adjust their views in light of updated assumptions for discount rates, revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent Street research on Morgan Advanced Materials points to a mixed but generally supportive tone, with analysts refining their assumptions rather than changing their overall stance on the company.
JDG
UK£49.50
Judges Scientific
7D
6.3%
1Y
-31.3%
Narrative Update • Apr 25

JDG: Higher Margin Assumptions Will Support Upside Despite Recent Downgrade

Analysts have trimmed their price target on Judges Scientific, cutting it by £0.00 to reflect updated views on discount rates, expected revenue trends, profit margins and a lower future P/E multiple following recent research, including a downgrade at Jefferies. Analyst Commentary Recent research around Judges Scientific has focused squarely on how reliable future growth might be, how much investors should pay for that growth through the P/E multiple, and what discount rates make sense given current market conditions.
ROR
UK£3.11
Rotork
7D
-1.6%
1Y
0.3%
Narrative Update • Apr 21

ROR: Future Upside Will Hinge On M&A Discipline And Capital Deployment

Rotork's analyst price target has been trimmed slightly to £3.90 from about £3.92, as analysts factor in more cautious assumptions around discount rates, revenue growth and margins following a recent wave of target reductions and a downgrade alongside one recent upgrade. Analyst Commentary Recent research on Rotork has centered on fine tuning valuation assumptions rather than making wholesale changes to the investment case, with several price target moves in a tight range around £3.90 to £4.20.
CPH2
UK£0.15
Clean Power Hydrogen
7D
38.9%
1Y
150.0%
LSC
UK£31.50
London Security
7D
6.8%
1Y
-17.1%