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Australian (ASX) Industrials Sector Analysis

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies125
  • 7D-3.1%
  • 3M-1.8%
  • 1Y5.4%
  • YTD-3.2%

Over the last 7 days, the Industrials industry has dropped 3.1%, and Transurban Group contributed the most with a 2.2% decline. In the past year, the industry has gained 5.4%. 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
Sun, 08 Feb 2026AU$236.6bAU$144.1bAU$8.0b20.1x29.5x1.6x
Tue, 06 Jan 2026AU$243.8bAU$144.9bAU$8.1b20.8x30x1.7x
Thu, 04 Dec 2025AU$243.7bAU$145.2bAU$8.2b20.5x29.9x1.7x
Sat, 01 Nov 2025AU$247.6bAU$145.1bAU$8.2b20.7x30.3x1.7x
Mon, 29 Sep 2025AU$242.5bAU$146.1bAU$8.2b20x29.5x1.7x
Wed, 27 Aug 2025AU$245.2bAU$145.6bAU$8.0b17.6x30.5x1.7x
Fri, 25 Jul 2025AU$238.0bAU$144.4bAU$8.4b17.8x28.3x1.6x
Sun, 22 Jun 2025AU$238.0bAU$144.9bAU$8.4b16.7x28.2x1.6x
Tue, 20 May 2025AU$232.2bAU$144.7bAU$8.2b16.9x28.2x1.6x
Thu, 17 Apr 2025AU$216.7bAU$146.2bAU$8.3b15.9x26x1.5x
Sat, 15 Mar 2025AU$216.6bAU$146.4bAU$8.4b16x25.9x1.5x
Mon, 10 Feb 2025AU$212.9bAU$121.5bAU$6.7b19.8x31.8x1.8x
Wed, 08 Jan 2025AU$211.9bAU$122.4bAU$6.7b19x31.6x1.7x
Fri, 06 Dec 2024AU$212.6bAU$122.0bAU$6.6b20.1x32x1.7x
Sun, 03 Nov 2024AU$197.1bAU$120.3bAU$6.5b19.8x30.2x1.6x
Tue, 01 Oct 2024AU$206.1bAU$120.2bAU$6.5b19.7x31.9x1.7x
Thu, 29 Aug 2024AU$204.1bAU$122.1bAU$6.0b17.8x33.9x1.7x
Sat, 27 Jul 2024AU$197.8bAU$121.0bAU$5.4b18.6x36.3x1.6x
Mon, 24 Jun 2024AU$191.2bAU$120.9bAU$5.4b17.7x35.5x1.6x
Wed, 22 May 2024AU$192.2bAU$120.9bAU$5.4b17.8x35.8x1.6x
Fri, 19 Apr 2024AU$197.0bAU$122.4bAU$5.8b18.6x33.8x1.6x
Sun, 17 Mar 2024AU$195.9bAU$122.2bAU$5.9b17.4x33.4x1.6x
Tue, 13 Feb 2024AU$188.3bAU$118.1bAU$5.2b18.4x36.4x1.6x
Thu, 11 Jan 2024AU$188.3bAU$117.9bAU$4.7b18x39.7x1.6x
Sat, 09 Dec 2023AU$179.2bAU$118.2bAU$4.8b17.8x37.5x1.5x
Mon, 06 Nov 2023AU$173.5bAU$118.3bAU$4.8b16.7x36x1.5x
Wed, 04 Oct 2023AU$177.2bAU$118.7bAU$4.9b16.2x36.5x1.5x
Fri, 01 Sep 2023AU$183.2bAU$118.2bAU$4.2b16.7x43.7x1.6x
Sun, 30 Jul 2023AU$184.2bAU$111.3bAU$3.6b19.3x51.6x1.7x
Tue, 27 Jun 2023AU$175.0bAU$110.0bAU$3.5b18.5x50x1.6x
Thu, 25 May 2023AU$177.1bAU$110.3bAU$3.5b17.9x50.2x1.6x
Sat, 22 Apr 2023AU$176.7bAU$109.9bAU$3.5b18.2x50.6x1.6x
Mon, 20 Mar 2023AU$159.5bAU$98.8bAU$3.5b16.9x45.1x1.6x
Wed, 15 Feb 2023AU$146.9bAU$88.3bAU$3.7b20.1x39.4x1.7x
Price to Earnings Ratio

39.4x


Total Market Cap: AU$146.9bTotal Earnings: AU$3.7bTotal Revenue: AU$88.3bTotal 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 29.5x 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 29% 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-2.49%
Industrials-3.12%
Logistics2.22%
Commercial Services1.95%
Industrials1.90%
Airlines0.67%
Electrical-1.36%
Trade Distributors-1.94%
Infrastructure-2.50%
Building-3.28%
Transportation-3.69%
Professional Services-5.60%
Construction-7.53%
Machinery-8.55%
Aerospace & Defense-18.61%
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 57.7%, 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 58% 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$23.515.0%
+AU$1.5b		20.9%PE25.9x
QAN Qantas AirwaysAU$10.150.8%
+AU$118.6m		7.9%PE9.4x
SKS SKS Technologies GroupAU$3.9211.0%
+AU$45.0m		87.6%PE32.2x
DBI Dalrymple Bay InfrastructureAU$4.951.9%
+AU$44.6m		37.1%PE27.9x
SXE Southern Cross Electrical EngineeringAU$2.622.7%
+AU$18.6m		69.0%PE22x

Latest News

SKS
AU$3.92
SKS Technologies Group
7D
11.0%
1Y
87.6%
DBI
AU$4.95
Dalrymple Bay Infrastructure
7D
1.9%
1Y
37.1%

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$4.20
MAAS Group Holdings
7D
-23.1%
1Y
-8.5%
ASB
AU$5.73
Austal
7D
-17.9%
1Y
46.9%
BXB
AU$23.51
Brambles
7D
5.0%
1Y
20.9%

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$5.16
Ventia Services Group
7D
-10.7%
1Y
33.3%

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$10.15
Qantas Airways
7D
0.8%
1Y
7.9%

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.
ALQ
AU$22.95
ALS
7D
-6.9%
1Y
36.9%

ALQ: Elevated P/E Assumptions Will Likely Expose Downside Execution Risk

Analysts have lifted their price target on ALS to about A$17.24 from roughly A$12.84, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples following the recent research upgrade. Analyst Commentary Goldman Sachs recently upgraded ALS and lifted their target price to about A$17.24, which sits well above the previous level around A$12.84.
SHA
AU$6.80
SHAPE Australia
7D
1.8%
1Y
126.7%
EOS
AU$6.00
Electro Optic Systems Holdings
7D
-30.9%
1Y
359.8%

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.
SIQ
AU$8.51
Smartgroup
7D
0.9%
1Y
12.0%
TCL
AU$13.64
Transurban Group
7D
-2.2%
1Y
4.1%

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$31.07
Computershare
7D
-5.0%
1Y
-11.8%

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.
SXE
AU$2.62
Southern Cross Electrical Engineering
7D
2.7%
1Y
69.0%
KSC
AU$3.48
K&S
7D
2.4%
1Y
-3.3%
ALX
AU$4.58
Atlas Arteria
7D
-7.8%
1Y
-9.3%