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U.K. (FTSE) Machinery Industry Analysis

UpdatedJan 24, 2026
DataAggregated Company Financials
Companies20
  • 7D1.3%
  • 3M9.8%
  • 1Y20.2%
  • YTD8.6%

Over the last 7 days, the Machinery industry has risen 1.3%, driven by gains from Weir Group of 2.9%. In the same time, Judges Scientific was down 17%. In the last 12 months, the industry was up 20%. 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
Sat, 24 Jan 2026UK£29.8bUK£12.2bUK£998.5m27.4x29.8x2.4x
Mon, 22 Dec 2025UK£27.2bUK£12.2bUK£998.5m23.9x27.2x2.2x
Wed, 19 Nov 2025UK£26.2bUK£12.2bUK£983.4m24.5x26.7x2.2x
Fri, 17 Oct 2025UK£26.3bUK£12.4bUK£998.5m23.6x26.3x2.1x
Sun, 14 Sep 2025UK£25.7bUK£12.4bUK£1.0b23.5x25.4x2.1x
Tue, 12 Aug 2025UK£24.3bUK£12.4bUK£1.0b23.3x23.3x2x
Thu, 10 Jul 2025UK£24.2bUK£12.5bUK£1.1b22.4x22.4x1.9x
Sat, 07 Jun 2025UK£23.3bUK£12.5bUK£1.1b22.6x21.8x1.9x
Mon, 05 May 2025UK£22.2bUK£12.5bUK£1.1b22.4x20.7x1.8x
Wed, 02 Apr 2025UK£23.0bUK£12.5bUK£1.1b19.9x21.1x1.8x
Fri, 28 Feb 2025UK£24.3bUK£12.6bUK£1.1b21.7x22.1x1.9x
Sun, 26 Jan 2025UK£25.2bUK£12.6bUK£1.1b22.1x23.1x2x
Tue, 24 Dec 2024UK£23.5bUK£12.6bUK£1.1b21.5x21.5x1.9x
Thu, 21 Nov 2024UK£22.7bUK£12.6bUK£1.1b21x20.7x1.8x
Sat, 19 Oct 2024UK£23.4bUK£12.6bUK£1.1b20.2x21.4x1.9x
Mon, 16 Sep 2024UK£24.2bUK£12.6bUK£1.1b20.4x22.1x1.9x
Wed, 14 Aug 2024UK£23.7bUK£12.6bUK£1.1b20.3x21.6x1.9x
Fri, 12 Jul 2024UK£25.6bUK£12.8bUK£1.1b19.7x23.4x2x
Sun, 09 Jun 2024UK£25.8bUK£12.8bUK£1.1b20.3x23.4x2x
Tue, 07 May 2024UK£25.2bUK£12.8bUK£1.1b19.2x22.9x2x
Thu, 04 Apr 2024UK£25.9bUK£12.8bUK£1.1b19x23.4x2x
Sat, 02 Mar 2024UK£25.3bUK£12.8bUK£1.1b18.6x22.2x2x
Mon, 29 Jan 2024UK£26.1bUK£15.8bUK£1.3b17.2x19.7x1.7x
Wed, 27 Dec 2023UK£26.6bUK£15.8bUK£1.3b17.2x20x1.7x
Fri, 24 Nov 2023UK£24.8bUK£15.8bUK£1.3b16.8x18.7x1.6x
Sun, 22 Oct 2023UK£23.2bUK£15.8bUK£1.3b15.3x17.5x1.5x
Tue, 19 Sep 2023UK£25.5bUK£15.8bUK£1.3b15.9x19.3x1.6x
Thu, 17 Aug 2023UK£25.6bUK£15.8bUK£1.3b16.5x19.3x1.6x
Sat, 15 Jul 2023UK£25.9bUK£15.2bUK£1.3b18.1x19.6x1.7x
Mon, 12 Jun 2023UK£26.7bUK£15.2bUK£1.3b16.7x20.1x1.8x
Wed, 10 May 2023UK£26.8bUK£15.1bUK£1.3b16.3x20.2x1.8x
Fri, 07 Apr 2023UK£26.1bUK£15.1bUK£1.3b16.5x19.8x1.7x
Sun, 05 Mar 2023UK£27.8bUK£14.8bUK£1.3b16.1x21.2x1.9x
Tue, 31 Jan 2023UK£25.5bUK£12.2bUK£1.1b17.6x23.6x2.1x
Price to Earnings Ratio

23.6x


Total Market Cap: UK£25.5bTotal 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 29.8x 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 2.5% 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 Market-0.42%
Industrials-2.13%
Machinery1.33%
Industrial Machinery1.34%
Construction Machinery and Vehicles-1.41%
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 15.4%, 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£31.782.9%
+UK£231.8m		31.5%PE26.4x
VSVS VesuviusUK£4.7911.6%
+UK£121.2m		18.1%PE16.6x
GDWN GoodwinUK£252.003.3%
+UK£60.1m		248.1%PE47.7x
IMI IMIUK£27.120.9%
+UK£58.9m		37.3%PE27.8x
MPAC Mpac GroupUK£3.7511.1%
+UK£11.3m		-34.2%PS0.8x

Latest News

VSVS
UK£4.79
Vesuvius
7D
11.6%
1Y
18.1%

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£71.65
Spirax Group
7D
-0.3%
1Y
-6.8%

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.
TAND
UK£0.37
Tan Delta Systems
7D
13.8%
1Y
89.7%

Companies Like Tan Delta Systems (LON:TAND) Are In A Position To Invest In Growth

Jan 23
Companies Like Tan Delta Systems (LON:TAND) Are In A Position To Invest In Growth
WEIR
UK£31.78
Weir Group
7D
2.9%
1Y
31.5%

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£48.20
Judges Scientific
7D
-16.9%
1Y
-32.1%

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£3.47
Rotork
7D
-0.06%
1Y
3.1%

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
-3.3%
1Y
28.3%
BOY
UK£7.64
Bodycote
7D
-0.4%
1Y
21.2%

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£252.00
Goodwin
7D
3.3%
1Y
248.1%

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
MPAC
UK£3.75
Mpac Group
7D
11.1%
1Y
-34.2%
IMI
UK£27.12
IMI
7D
0.9%
1Y
37.3%

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.
MGAM
UK£2.38
Morgan Advanced Materials
7D
0.6%
1Y
-10.9%

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.
CPH2
UK£0.055
Clean Power Hydrogen
7D
-8.3%
1Y
-29.5%
MCON
UK£0.44
Mincon Group
7D
-1.1%
1Y
20.5%
TRI
UK£0.80
Trifast
7D
3.4%
1Y
-1.7%
SOM
UK£2.10
Somero Enterprises
7D
-1.4%
1Y
-29.4%