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Australian (ASX) Industrials Sector Analysis

UpdatedMar 09, 2026
DataAggregated Company Financials
Companies126
  • 7D-3.0%
  • 3M-0.3%
  • 1Y9.4%
  • YTD-1.2%

Over the last 7 days, the Industrials industry has dropped 3.0%, driven by Qantas Airways declining 10%. Meanwhile, DroneShield actually outperformed within the industry, gaining 12% in the last week. In the past year, the industry has gained 9.4%. Looking forward, earnings are forecast to grow by 17% annually.

Sector Valuation and Performance

Has the Australian Industrials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Mar 2026AU$241.7bAU$148.4bAU$8.2b19.2x29.4x1.6x
Wed, 04 Feb 2026AU$244.2bAU$144.1bAU$8.0b21x30.4x1.7x
Fri, 02 Jan 2026AU$244.0bAU$145.0bAU$8.1b20.9x30x1.7x
Sun, 30 Nov 2025AU$246.9bAU$145.4bAU$8.2b20.3x30.2x1.7x
Tue, 28 Oct 2025AU$251.6bAU$144.9bAU$8.1b20.3x30.9x1.7x
Thu, 25 Sep 2025AU$244.4bAU$146.0bAU$8.2b20x29.8x1.7x
Sat, 23 Aug 2025AU$248.8bAU$145.3bAU$8.2b18x30.3x1.7x
Mon, 21 Jul 2025AU$240.0bAU$144.7bAU$8.4b17.4x28.5x1.7x
Wed, 18 Jun 2025AU$236.6bAU$144.8bAU$8.4b17x28.1x1.6x
Fri, 16 May 2025AU$230.5bAU$144.8bAU$8.2b17.1x28x1.6x
Sun, 13 Apr 2025AU$215.5bAU$146.5bAU$8.4b15.9x25.8x1.5x
Tue, 11 Mar 2025AU$223.0bAU$146.4bAU$8.3b16.7x26.7x1.5x
Thu, 06 Feb 2025AU$212.0bAU$121.5bAU$6.7b19.5x31.7x1.7x
Sat, 04 Jan 2025AU$210.4bAU$122.6bAU$6.7b19x31.3x1.7x
Mon, 02 Dec 2024AU$210.0bAU$121.4bAU$6.6b20.2x31.9x1.7x
Wed, 30 Oct 2024AU$200.2bAU$120.3bAU$6.5b19.6x30.6x1.7x
Fri, 27 Sep 2024AU$205.9bAU$120.6bAU$6.5b19.1x31.7x1.7x
Sun, 25 Aug 2024AU$205.1bAU$121.7bAU$5.9b17.4x34.6x1.7x
Tue, 23 Jul 2024AU$195.9bAU$120.8bAU$5.4b17.9x36.2x1.6x
Thu, 20 Jun 2024AU$191.2bAU$120.9bAU$5.4b17.7x35.5x1.6x
Sat, 18 May 2024AU$192.4bAU$121.9bAU$5.8b17.8x33.2x1.6x
Mon, 15 Apr 2024AU$200.8bAU$122.3bAU$5.8b18.5x34.5x1.6x
Wed, 13 Mar 2024AU$197.8bAU$122.1bAU$5.8b17.2x33.8x1.6x
Fri, 09 Feb 2024AU$187.4bAU$117.8bAU$4.9b18.4x38.1x1.6x
Sun, 07 Jan 2024AU$187.9bAU$117.9bAU$4.7b18.2x39.6x1.6x
Tue, 05 Dec 2023AU$178.3bAU$118.1bAU$4.8b16.6x37.4x1.5x
Thu, 02 Nov 2023AU$168.9bAU$118.8bAU$4.9b16.6x34.7x1.4x
Sat, 30 Sep 2023AU$177.6bAU$118.5bAU$4.8b16.6x36.8x1.5x
Mon, 28 Aug 2023AU$178.8bAU$116.8bAU$4.1b17.3x43.8x1.5x
Wed, 26 Jul 2023AU$182.3bAU$111.0bAU$3.5b18.7x51.4x1.6x
Fri, 23 Jun 2023AU$179.0bAU$109.8bAU$3.5b18.6x51.4x1.6x
Sun, 21 May 2023AU$178.2bAU$110.1bAU$3.5b17.5x50.8x1.6x
Tue, 18 Apr 2023AU$176.4bAU$109.9bAU$3.5b17.8x50.5x1.6x
Thu, 16 Mar 2023AU$147.4bAU$94.0bAU$3.5b16.7x42.1x1.6x
Price to Earnings Ratio

42.1x


Total Market Cap: AU$147.4bTotal Earnings: AU$3.5bTotal Revenue: AU$94.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Industrials Sector Price to Earnings3Y Average 35x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Industrials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 29.4x which is lower than its 3-year average PE of 35.0x.
  • The industry is trading close to its 3-year average PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 33% per year over the last three years.
  • Revenues for these companies have grown 16% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Australian Industrials sector?

AU Market-3.68%
Industrials-3.04%
Aerospace & Defense8.76%
Logistics0.32%
Industrials0%0
Infrastructure-1.28%
Commercial Services-3.21%
Trade Distributors-3.26%
Construction-3.49%
Professional Services-3.51%
Transportation-3.53%
Building-5.12%
Machinery-8.51%
Airlines-10.29%
Electrical-14.88%
Industry PE
  • Investors are most optimistic about the Aerospace & Defense industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 60.1%, which is lower than the prior year's growth of 240.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Machinery industry, expecting annual earnings growth of 64% over the next 5 years.
  • This is better than its past earnings growth rate of 27% per year.
  • In contrast, the Transportation industry is expected to see its earnings grow by 7.9% 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
EOS Electro Optic Systems HoldingsAU$9.907.5%
+AU$133.1m		735.4%PS14.9x
DUR DuratecAU$2.225.7%
+AU$30.9m		43.2%PE24.6x
TEA TasmeaAU$4.082.3%
+AU$23.4m		61.9%PE22.3x
3DA AmaeroAU$0.285.6%
+AU$14.3m		7.5%PS27.4x
MGH MAAS Group HoldingsAU$4.780.4%
+AU$9.4m		28.8%PE22x

Latest News

BXB
AU$23.23
Brambles
7D
-8.1%
1Y
11.4%

BXB: Refined Assumptions And Dividend Outlook Will Support A Steady Future

Analysts have updated their view on Brambles, increasing the price target from A$24.43 to A$25.82. This change reflects adjusted assumptions around the discount rate, profit margin, revenue growth and future P/E multiples.
DOW
AU$7.39
Downer EDI
7D
-14.4%
1Y
37.9%

DOW: Buyback, NZ Road Contracts And FY26 Guidance Will Support A Steady Outlook

Analysts have nudged their price target for Downer EDI to A$8.24, with the small change reflecting updated views on fair value, discount rates and forward P/E following recent bullish Street research. Analyst Commentary Bullish Takeaways Bullish analysts see the A$8.24 price target as supported by updated assumptions on fair value, with recent research pointing to what they view as attractive risk and reward at current levels.
QAN
AU$8.52
Qantas Airways
7D
-9.5%
1Y
-12.5%

QAN: Recent Pullback And Buyback Plan Will Support Future Upside

Narrative Update on Qantas Airways The analyst price target for Qantas Airways has been revised slightly higher to A$12.22 from A$12.21. Analysts attribute the change to updated fair value, discount rate, and P/E assumptions, as well as recent Street research in which Qantas was upgraded to Outperform with a price target of A$11.25 following a 20% share price pullback.
TEA
AU$4.08
Tasmea
7D
2.3%
1Y
61.9%
MGH
AU$4.78
MAAS Group Holdings
7D
0.4%
1Y
28.8%
ALQ
AU$22.63
ALS
7D
-13.1%
1Y
39.8%

ALQ: Upgraded Outlook And Earnings Framework Will Shape Future Return Potential

Narrative Update on ALS Analysts have lifted their price target for ALS from A$27.00 to A$28.00, citing updated assumptions for revenue growth, profit margins, and future P/E. These changes are reflected in refreshed valuation inputs.
EOS
AU$9.90
Electro Optic Systems Holdings
7D
7.5%
1Y
735.4%

EOS: Higher Future P/E Assumptions Will Support Upside Repricing

Analysts have revised their price target on Electro Optic Systems Holdings from A$12.44 to A$12.95, reflecting updated views on discount rates, revenue growth, profit margins and future P/E assumptions. Valuation Changes Fair Value: A$12.44 to A$12.95, representing a small upward revision in the estimated equity value.
DUR
AU$2.22
Duratec
7D
5.7%
1Y
43.2%
SND
AU$0.90
Saunders International
7D
5.3%
1Y
2.9%
KSC
AU$3.41
K&S
7D
1.8%
1Y
-5.3%
CPU
AU$29.52
Computershare
7D
-4.4%
1Y
-26.9%

CPU: Citi Upgrade And Raised FY26 Outlook Will Support Bullish Setup

Analysts have trimmed their fair value estimate for Computershare to A$35.79 from A$35.97, citing updated assumptions for discount rates, revenue growth, profit margins and future P/E, as well as recent Street research, including Citi's upgrade of the stock with an A$39.60 price target. Analyst Commentary Bullish Takeaways Bullish analysts highlight the recent upgrade to a Buy rating as support for a more constructive view on Computershare’s ability to execute against earnings expectations, even with more conservative assumptions now embedded in the fair value model.
TCL
AU$14.09
Transurban Group
7D
-3.0%
1Y
9.1%
REH
AU$14.74
Reece
7D
-5.8%
1Y
-9.0%
SGH
AU$41.58
SGH
7D
-10.5%
1Y
-16.6%

SGH: Future Returns Will Rely On Dividend Income And Margin Strength

Analysts have raised their fair value estimate for SGH from A$46.69 to A$49.08, citing updated assumptions around revenue growth, profit margins and future P/E as key drivers behind the higher price target. What's in the News SGH Limited declared an ordinary dividend of A$0.32000000 per share for the six month period ended December 31, 2025, classified as a dividend increase event (Key Developments).
3DA
AU$0.28
Amaero
7D
5.6%
1Y
7.5%
FBR
AU$0.005
FBR
7D
25.0%
1Y
-73.7%