Top 15 Machinery Industrial Stocks, Ranked by Marvin Scores
Marvin's rules picked 15 machinery stocks, led by Douglas Dynamics, JBT Marel and Graco. They are ranked by Overall score, which compares each company with others in the Industrial - Machinery industry.
Machinery companies make the equipment, components and systems that other businesses use to produce, move, filter or control things. This list covers 15 stocks in the Industrial - Machinery industry that Marvin's rules ranked highest by Overall score as of 2026-10-20.
The figures in each pick show how profitable a company is, how fast sales grew last fiscal year, and how much debt it carries. Strong margins suggest a company keeps more of each sales dollar. Low debt-to-equity suggests it leans less on borrowed money.
Keep in mind that a high score is a comparison within one industry, not a forecast. Some companies lack certain figures, and each pick notes the weak or missing ones.
Read the figures alongside the cautions rather than relying on the rank alone.
The list
How Marvin ranked these stocks
Marvin included companies above a minimum size and ranked them by Overall score, highest first, within the Industrial - Machinery industry. Marvin's scores are relative to each company's own industry. They show how a company compares with its machinery peers today, not how it compares with all stocks, and they do not predict future results.
Companies above about $300 million in size, ranked by Marvin scores (0-100, relative to each company's own industry). The Industrial - Machinery industry, highest Overall score first.
The stocks, one by one
Douglas Dynamics, Inc. PLOW
Douglas Dynamics has the top Overall score at 96, with an opportunity score of 94. Revenue grew 15.4% last fiscal year, and operating margin is 11.3%. Caution: free cash flow margin is a modest 7.0%, and debt data is not available.
JBT Marel Corporation JBTM
JBT Marel scores 95 overall, with revenue growth of 121.3% last fiscal year and a gross margin of 35.5%. Debt-to-equity is a low 0.38. Caution: operating margin is 7.3%, return on equity is 4.3%, and free cash flow data is missing.
Graco Inc. GGG
Graco stands out for profitability, with a quality score of 94, operating margin of 28.1% and free cash flow margin of 27.8%. Caution: revenue growth was a modest 5.8%, its opportunity score is a middling 67, and debt data is not available.
Mueller Water Products, Inc. MWA
Mueller Water Products pairs a quality score of 95 with an operating margin of 19.4% and free cash flow margin of 12.1%. Debt-to-equity of 0.40 looks fairly light. Caution: revenue growth of 8.7% was steady rather than fast.
Parker-Hannifin Corporation PH
Parker-Hannifin has a quality score of 91, an operating margin of 23.6% and return on equity of 23.7%, all signs of strong profitability. Debt-to-equity is 0.57. Caution: growth was modest at 8.3%, and the opportunity score of 69 trails its quality score.
Donaldson Company, Inc. DCI
Donaldson earns a quality score of 88 and a return on equity of 25.7%, with an operating margin of 15.4%. Caution: revenue growth was a slow 5.3%, and debt-to-equity of 0.79 is higher than several peers on this list.
IDEX Corporation IEX
IDEX has a quality score of 93, a gross margin of 44.7%, an operating margin of 20.7% and a free cash flow margin of 17.9%. Caution: return on equity is a lower 13.0%, and revenue growth was only 5.8%.
Watts Water Technologies, Inc. WTS
Watts Water Technologies carries very little debt, with debt-to-equity of 0.05, plus a gross margin of 48.9% and an operating margin of 19.1%. Caution: revenue growth of 8.3% was moderate, and its opportunity score is 71.
Illinois Tool Works Inc. ITW
Illinois Tool Works has a gross margin of 53.0% and an operating margin of 26.5%. Caution: revenue growth was almost flat at 0.9%, and debt-to-equity of 4.07 is the highest here. Its return on equity of 110.3% can look very high when a company's equity base is small.
Zurn Elkay Water Solutions Corporation ZWS
Zurn Elkay Water Solutions has a quality score of 97, a gross margin of 45.4% and an operating margin of 17.1%, with debt-to-equity of 0.34. Caution: free cash flow data is missing, and its opportunity score is only 55.
Twin Disc, Incorporated TWIN
Twin Disc has a high opportunity score of 95 but a weaker quality score of 47. Revenue grew 11.9%. Caution: operating margin is thin at 4.7%, and free cash flow margin is just 2.4%, leaving little cushion.
Power Solutions International, Inc. PSIX
Power Solutions International grew revenue 51.8% last fiscal year and posted a return on equity of 33.4%, with an operating margin of 13.0%. Caution: its quality score is a middling 55, and its gross margin of 23.9% is lower than most peers listed here.
A. O. Smith Corporation AOS
A. O. Smith has a return on equity of 27.2%, an operating margin of 17.5% and a free cash flow margin of 16.8%, with debt-to-equity of 0.37. Caution: revenue growth was essentially flat at 0.3%.
Dover Corporation DOV
Dover has a quality score of 86, an operating margin of 16.9%, a free cash flow margin of 14.0% and debt-to-equity of 0.51. Caution: revenue growth was modest at 4.5%, and its Overall score of 78 sits below most of this list.
Nordson Corporation NDSN
Nordson has a gross margin of 55.3%, an operating margin of 26.9% and a free cash flow margin of 24.3%, all strong. Caution: revenue growth was only 3.8%, and its opportunity score of 62 is the lowest-ranked part of its profile.
Common questions
What does the Overall score mean?
The Overall score is Marvin's combined rating of a company. It draws on a quality score and an opportunity score, and it is measured against other companies in the same industry. A higher score means the company compares better with its machinery peers today. It is not a prediction.
Why are some figures missing for certain stocks?
Marvin only shows a figure when the underlying data is available. If a company's free cash flow or debt data is missing, the blurb says so and relies on the other figures instead.
Is a high debt-to-equity ratio always a problem?
Not always. Debt-to-equity compares what a company owes with the money invested by its owners. A higher ratio means more reliance on borrowed money, which can add risk if profits fall. It is best read alongside margins and cash flow, and against peers in the same industry.
Keep reading
- Top 15 Industrial Stocks, Ranked by Marvin Scores
- Top 15 Industrials Companies With the Strongest Businesses
- Top 15 Industrials Stocks Ranked by Marvin Scores
- Top 15 Industrials Stocks Ranked by Marvin Opportunity Score
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Marvin's scores (0-100) compare each company with others in its industry today. Growth and margin figures come from SEC filings. This is general information, not personal investment advice or a recommendation to buy or sell anything. Do your own research.