Abstract: Agricultural machinery industry is an important material support to realize agricultural modernization. In the new period of pursuing high-quality development, it is of great significance to evaluate agricultural machinery industrial quality. Based on the panel data of China’s agricultural machinery industry from 1991 to 2017, this paper constructs a comprehensive index system based on financial evaluation method of listed companies. The weights are determined by the vertical and horizontal ranking method that incorporating the time trend. The quality of China’s agricultural machinery industry and its twelve sub industries is dynamically evaluated from four dimensions, which include profitability, solvency, operating capacity and growth ability. The results show that the development quality of China’s agricultural machinery industry has periodic characteristics.There are great differences in the development quality among the sub industries, because their solvency, operating capacity and profitability differ a lot. Based on these results, this paper proposes some policy recommendations, such as strengthening innovation, increasing effective supply, enhancing enterprise development abilities, upgrading the level of operation and management, and shortening the gaps among sub industries.