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Australian (ASX) Industrials Sector Analysis

UpdatedFeb 06, 2026
DataAggregated Company Financials
Companies125
  • 7D-1.4%
  • 3M0.3%
  • 1Y7.0%
  • YTD-1.1%

Over the last 7 days, the Industrials industry has dropped 1.9%, driven by Computershare declining 3.3%. This takes the industry's 12 month performance to a gain of 8.2%. As for the next few years, earnings are expected to grow by 17% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 06 Feb 2026AU$241.8bAU$144.2bAU$8.0b20.4x30.1x1.7x
Sun, 04 Jan 2026AU$244.5bAU$144.9bAU$8.1b20.9x30.1x1.7x
Tue, 02 Dec 2025AU$244.6bAU$145.3bAU$8.2b20.2x29.9x1.7x
Thu, 30 Oct 2025AU$248.3bAU$144.7bAU$8.1b20.1x30.5x1.7x
Sat, 27 Sep 2025AU$242.5bAU$146.2bAU$8.2b20x29.4x1.7x
Mon, 25 Aug 2025AU$248.8bAU$145.1bAU$8.1b18x30.7x1.7x
Wed, 23 Jul 2025AU$238.9bAU$144.6bAU$8.4b17.6x28.3x1.7x
Fri, 20 Jun 2025AU$236.7bAU$145.0bAU$8.5b16.4x28x1.6x
Sun, 18 May 2025AU$232.9bAU$144.9bAU$8.2b17.3x28.3x1.6x
Tue, 15 Apr 2025AU$217.7bAU$146.4bAU$8.4b15.9x26.1x1.5x
Thu, 13 Mar 2025AU$214.4bAU$146.5bAU$8.4b16.1x25.6x1.5x
Sat, 08 Feb 2025AU$212.9bAU$121.5bAU$6.7b19.8x31.9x1.8x
Mon, 06 Jan 2025AU$210.5bAU$122.6bAU$6.7b19x31.3x1.7x
Wed, 04 Dec 2024AU$211.5bAU$121.4bAU$6.6b19.8x32.1x1.7x
Fri, 01 Nov 2024AU$198.7bAU$120.2bAU$6.5b19.6x30.4x1.7x
Sun, 29 Sep 2024AU$205.3bAU$120.6bAU$6.5b19.2x31.7x1.7x
Tue, 27 Aug 2024AU$205.3bAU$121.8bAU$5.9b17.6x34.6x1.7x
Thu, 25 Jul 2024AU$198.7bAU$120.9bAU$5.4b18.2x36.6x1.6x
Sat, 22 Jun 2024AU$191.0bAU$120.9bAU$5.4b17.7x35.4x1.6x
Mon, 20 May 2024AU$192.3bAU$121.4bAU$5.8b17.8x33.4x1.6x
Wed, 17 Apr 2024AU$199.2bAU$122.5bAU$5.8b18.7x34.1x1.6x
Fri, 15 Mar 2024AU$197.7bAU$122.0bAU$5.8b17.5x33.8x1.6x
Sun, 11 Feb 2024AU$187.7bAU$117.8bAU$5.1b18.8x37x1.6x
Tue, 09 Jan 2024AU$187.0bAU$118.0bAU$4.8b17.9x39.3x1.6x
Thu, 07 Dec 2023AU$179.4bAU$118.3bAU$4.8b18x37.5x1.5x
Sat, 04 Nov 2023AU$173.5bAU$118.5bAU$4.8b16.7x35.9x1.5x
Mon, 02 Oct 2023AU$177.6bAU$118.5bAU$4.8b16.6x36.7x1.5x
Wed, 30 Aug 2023AU$180.6bAU$117.4bAU$4.1b16.7x44.4x1.5x
Fri, 28 Jul 2023AU$185.1bAU$111.0bAU$3.5b19.3x52.3x1.7x
Sun, 25 Jun 2023AU$174.8bAU$110.0bAU$3.5b18.4x49.9x1.6x
Tue, 23 May 2023AU$178.2bAU$110.1bAU$3.5b17.5x50.8x1.6x
Thu, 20 Apr 2023AU$175.6bAU$109.9bAU$3.5b18.2x50.3x1.6x
Sat, 18 Mar 2023AU$145.9bAU$93.9bAU$3.5b16.9x41.8x1.6x
Mon, 13 Feb 2023AU$147.6bAU$88.1bAU$3.9b20.1x38.4x1.7x
Price to Earnings Ratio

38.4x


Total Market Cap: AU$147.6bTotal Earnings: AU$3.9bTotal Revenue: AU$88.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Industrials Sector Price to Earnings3Y Average 35.4x202420252026
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 30.2x which is lower than its 3-year average PE of 35.4x.
  • 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 28% per year over the last three years.
  • Revenues for these companies have grown 18% 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-1.00%
Industrials-1.38%
Logistics3.28%
Industrials1.90%
Airlines1.36%
Commercial Services1.24%
Infrastructure0.44%
Building-0.79%
Trade Distributors-1.35%
Transportation-1.65%
Professional Services-2.74%
Construction-3.83%
Electrical-4.22%
Machinery-9.28%
Aerospace & Defense-15.28%
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 59.1%, which is lower than the prior year's growth of 239.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Aerospace & Defense industry, expecting annual earnings growth of 59% over the next 5 years.
  • However this is lower than its past earnings growth rate of 239% per year.
  • In contrast, the Airlines industry is expected to see its earnings grow by 7.5% 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
BXB BramblesAU$22.721.8%
+AU$556.8m		15.9%PE24.9x
TCL Transurban GroupAU$14.001.1%
+AU$467.2m		5.6%PE327.9x
QAN Qantas AirwaysAU$10.301.5%
+AU$222.3m		7.7%PE9.5x
DBI Dalrymple Bay InfrastructureAU$5.003.7%
+AU$89.2m		36.2%PE28.1x
WOR WorleyAU$13.270.8%
+AU$55.7m		-8.5%PE16.4x

Latest News

DBI
AU$5.00
Dalrymple Bay Infrastructure
7D
3.7%
1Y
36.2%

Dalrymple Bay Infrastructure (ASX:DBI) Has Some Way To Go To Become A Multi-Bagger

Feb 05
Dalrymple Bay Infrastructure (ASX:DBI) Has Some Way To Go To Become A Multi-Bagger
MGH
AU$4.11
MAAS Group Holdings
7D
-25.0%
1Y
-9.5%
ASB
AU$6.09
Austal
7D
-16.7%
1Y
52.6%
BXB
AU$22.72
Brambles
7D
1.8%
1Y
15.9%

BXB: Refined Assumptions Will Support A Steady Fairly Valued Medium-Term Outlook

Analysts have trimmed their price target for Brambles to A$24.14 from A$24.78, reflecting small adjustments to assumptions around the discount rate, revenue growth, profit margin and future P/E multiples. Valuation Changes Fair value estimate reduced slightly from A$24.78 to A$24.14 per share.
VNT
AU$5.31
Ventia Services Group
7D
-8.1%
1Y
36.9%

VNT: Government Cleaning Contract And Stable Settings Will Support Steady Long Term Earnings

Narrative Update: Ventia Services Group Analysts have nudged their price target slightly higher to A$5.83 from A$5.72, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E multiples in their models. What's in the News Ventia Services Group secured the NSW Whole of Government Cleaning Services contract for the Western Sydney Region, valued at about A$100 million for an initial 18 month term with a one year extension option (Client Announcements).
QAN
AU$10.30
Qantas Airways
7D
1.5%
1Y
7.7%

QAN: Lower Discount Rate And Margins Will Support Stronger Future Share Price Upside

Analysts have nudged their fair value estimate for Qantas Airways slightly higher to A$12.24 from A$12.20, reflecting updated assumptions around discount rates, revenue, profit margins and future P/E levels. Valuation Changes Fair Value Estimate nudged up slightly to A$12.24 from A$12.20.
DRO
AU$3.19
DroneShield
7D
-11.1%
1Y
390.8%

DRO: Index Inclusion And Higher Growth Outlook Will Support Future Upside Potential

Analysts have lifted their price target for DroneShield from A$4.70 to A$5.00. This reflects updated assumptions that include a slightly lower discount rate, modestly higher revenue growth expectations, a small reduction in projected profit margins, and a marginally higher future P/E.
WOR
AU$13.27
Worley
7D
0.8%
1Y
-8.5%

Data Center Power And Energy Transition Work Will Drive A Stronger Future For This Business

Catalysts About Worley Worley provides engineering, procurement and construction related services across energy, chemicals and resources projects globally. What are the underlying business or industry changes driving this perspective?
SKS
AU$3.83
SKS Technologies Group
7D
12.0%
1Y
74.1%
EOS
AU$7.17
Electro Optic Systems Holdings
7D
-20.8%
1Y
443.2%

EOS: Higher Profitability And P/E Expansion Will Lift Future Share Appeal

Analysts now place the fair value for Electro Optic Systems Holdings at A$12.00, up from A$1.58, citing updated assumptions regarding revenue growth, profit margins, and the future P/E multiple. Valuation Changes Fair Value Estimate: Reset from A$1.58 to A$12.00, indicating a materially higher assessed value per share based on the updated model inputs.
TCL
AU$14.00
Transurban Group
7D
1.1%
1Y
5.6%

TCL: Tunnel Opening And Distribution Outlook Will Shape Fairly Valued Profile

Analysts have modestly adjusted their valuation framework for Transurban Group, keeping the fair value estimate steady at A$14.36 while refining assumptions around the discount rate, profit margin and future P/E to better reflect current expectations for earnings quality and risk. What's in the News West Gate Tunnel Project is scheduled to open to traffic on Sunday 14 December 2025, providing an alternative to the West Gate Bridge and a new connection between the West Gate Freeway, the Port of Melbourne and CityLink (Key Developments).
CPU
AU$32.08
Computershare
7D
-3.3%
1Y
-8.9%

CPU: AGM Update And New Buy Ratings Will Support Balanced FY26 Outlook

Narrative Update The updated analyst price target for Computershare has shifted from about A$37.40 to about A$36.40. Analysts attribute the change to modest adjustments in fair value, discount rate and growth assumptions, along with recent upgrades to Buy from Citi and Goldman Sachs that were supported by the company’s AGM update.
DOW
AU$7.95
Downer EDI
7D
0.9%
1Y
39.2%

DOW: Long Term NZ Road And Chevron Contracts Will Support Upside Outlook

Narrative Update on Downer EDI Analysts have lifted their fair value estimate for Downer EDI from A$8.50 to A$8.85, citing refreshed assumptions around revenue growth, profit margins, discount rates and future P/E multiples. What’s in the News Selected as preferred contractor for NZ Transport Agency Waka Kotahi road network maintenance across four state highway contracts in Central Waikato, Taranaki, Tairawhiti and Coastal Otago, with services scheduled to commence in May 2026, subject to final terms (Client Announcement).
SXE
AU$2.69
Southern Cross Electrical Engineering
7D
5.9%
1Y
72.4%
SLX
AU$6.57
Silex Systems
7D
-15.0%
1Y
6.8%
ALX
AU$4.75
Atlas Arteria
7D
-3.3%
1Y
-6.3%