To improve the fault recognition rate of the dynamic principal component spatial data drive method, a fault diagnosis and equipment health status assessment method based on similarity fuzzy dynamics principal component analysis was proposed. First, the data are fuzzified according to the error function, and an augmented matrix is constructed. The eigenvalues are decomposed to obtain a score matrix and residual matrix of the fuzzy principal component. Further, the similarity between fault data and normal data is calculated. Meanwhile, a health assessment of the equipment is realized. The contribution rate of the observed variables is calculated. Finally, general Tennessee Eastman data and health assessment of a hydraulic press are used to validate the algorithm. The results show that the SFDPCA has a 100 % fault recognition rate for some faults, and the recognition rate for other faults is also higher than that of DPCA-Diss, DPCA-SPE, and PCA-SPE. The SDDPCA accurately identifies abnormal phenomena. It can determine the health level of prefilling and effectively make up for the shortcomings of PCA − T 2 , PCA-SPE, DPCA-Diss, and other methods and also can be applied to data-driven fault diagnosis to improve the fault recognition rate.