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Australian (ASX) Industrials Sector Analysis

UpdatedApr 15, 2026
DataAggregated Company Financials
Companies127
  • 7D0.7%
  • 3M-7.2%
  • 1Y6.7%
  • YTD-5.9%

Last week, the Industrials industry hasn't moved much but Qantas Airways is up 5.8% in that time. The past year has been better, since the industry has gained 6.7% in that time. Looking forward, earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 15 Apr 2026AU$230.0bAU$148.1bAU$8.2b19x28.1x1.6x
Fri, 13 Mar 2026AU$231.8bAU$148.1bAU$8.2b18.6x28.4x1.6x
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
Price to Earnings Ratio

50.6x


Total Market Cap: AU$176.7bTotal Earnings: AU$3.5bTotal Revenue: AU$109.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Industrials Sector Price to Earnings3Y Average 34.4x202420252026
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 28.1x which is lower than its 3-year average PE of 34.4x.
  • 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 33% per year over the last three years.
  • Revenues for these companies have grown 10% 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 Market2.79%
Industrials0.69%
Electrical12.35%
Machinery6.87%
Airlines5.79%
Logistics3.76%
Professional Services3.19%
Construction2.28%
Building1.84%
Trade Distributors1.26%
Industrials0%0
Transportation-0.20%
Infrastructure-0.64%
Commercial Services-1.75%
Aerospace & Defense-5.54%
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 60.2%, 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 7.5% 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
DRO DroneShieldAU$3.727.8%
+AU$249.2m		229.2%PE975.1x
CPU ComputershareAU$29.821.5%
+AU$248.7m		-21.1%PE20.6x
SKS SKS Technologies GroupAU$5.4719.4%
+AU$102.6m		231.5%PE36.8x
EOS Electro Optic Systems HoldingsAU$10.283.8%
+AU$73.3m		760.3%PS15.4x
TEA TasmeaAU$4.902.9%
+AU$41.9m		86.3%PE26.9x

Latest News

CWY
AU$2.28
Cleanaway Waste Management
7D
-4.6%
1Y
-11.3%
QAN
AU$9.09
Qantas Airways
7D
-2.2%
1Y
6.7%
SKS
AU$5.47
SKS Technologies Group
7D
19.4%
1Y
231.5%
ALQ
AU$22.13
ALS
7D
-3.5%
1Y
47.7%

ALQ: Higher Revenue Hopes And P/E Assumptions Will Likely Expose Downside Risk

Analysts have lifted their price target for ALS to about A$17.10 from roughly A$16.83, citing updated assumptions around revenue growth, profit margins and future P/E multiples following recent research such as the Goldman Sachs upgrade. Analyst Commentary While the latest research has supported a higher price target for ALS, not all commentary is upbeat.
EOS
AU$10.28
Electro Optic Systems Holdings
7D
3.8%
1Y
760.3%

EOS: Updated Disclosure Practices And Laser Contract Prospects Will Shape Fair Outlook

Analysts have nudged their price target for Electro Optic Systems Holdings slightly higher to A$9.70, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E that keep their fair value estimate broadly in line with prior views. What's in the News ASX reviewed Electro Optic Systems Holdings' December 15, 2025 announcement on a conditional high energy laser contract worth US$80 million and concluded that the disclosure did not provide sufficient detail on market sensitive information, particularly around the counterparty and contract conditions (ASX announcement).
TCL
AU$13.54
Transurban Group
7D
-2.6%
1Y
-2.5%

TCL: Tunnel Opening And 2025 Distribution Will Support A Fairly Valued Outlook

Analysts have trimmed their price target on Transurban Group from A$14.36 to A$13.99, reflecting adjustments to fair value, discount rate, revenue growth assumptions, profit margin outlook and the future P/E multiple. Valuation Changes Fair Value: Trimmed slightly from A$14.36 to A$13.99.
DRO
AU$3.72
DroneShield
7D
7.8%
1Y
229.2%
TEA
AU$4.90
Tasmea
7D
2.9%
1Y
86.3%
CPU
AU$29.82
Computershare
7D
1.5%
1Y
-21.1%

CPU: Citi Upgrade And Higher EPS Guidance Will Support Bullish Setup

Analysts now see Computershare's fair value at about A$35.40, just below the prior A$35.94 view. The shift is tied to updated assumptions on discount rate, modestly lower revenue growth, slightly softer profit margin and a higher future P/E multiple, alongside recent upgrades and a A$39.60 price target from broader Street research.
SXE
AU$3.28
Southern Cross Electrical Engineering
7D
3.5%
1Y
86.4%
SGH
AU$41.41
SGH
7D
-4.6%
1Y
-13.2%

SGH: Potential Bingo Acquisition Will Shape Future Earnings Power

Analysts have adjusted their price target on SGH to A$51.95 from A$52.68, reflecting updated views on revenue growth, profit margins and future P/E assumptions following recent bullish Street research. Analyst Commentary Bullish Takeaways Bullish analysts view the updated A$51.95 price target as consistent with their constructive stance on SGH, suggesting that the current valuation still reflects room for execution on existing revenue plans rather than requiring a major shift in the business.
REH
AU$13.86
Reece
7D
-5.2%
1Y
-9.1%

REH: Upgraded Views And FY26 Guidance Will Support Future Upside Potential

Analysts have adjusted their view on Reece, with the consensus fair value estimate moving from A$16.60 to A$18.00. This points to expectations of slightly stronger revenue growth, a modestly lower profit margin, a higher discount rate and a lower future P/E.
BXB
AU$22.25
Brambles
7D
-4.5%
1Y
7.0%

BXB: Dividend Increase And Updated Guidance Will Support A Positive Outlook

Analysts have nudged their Brambles price target slightly higher to A$26.06 from A$25.84, reflecting updated assumptions around discount rate, modest revenue growth adjustments, stable profit margins and a slightly higher future P/E multiple. What's in the News Brambles declared an ordinary dividend of US$0.23 per share for the six months ended 31 December 2025, with an ex date of 11 March 2026, a record date of 12 March 2026 and a payment date of 9 April 2026 (company announcement).
DOW
AU$7.64
Downer EDI
7D
-5.7%
1Y
41.5%

DOW: Execution Risks On New Contracts Will Likely Cap Future Returns

Analysts have adjusted their price target on Downer EDI to A$6.80. The change is framed around updated views on discount rates, modest revenue growth assumptions, and stable profit margin and P/E expectations.
KSC
AU$3.29
K&S
7D
6.1%
1Y
-7.1%
MPW
AU$2.68
Metal Powder Works
7D
5.9%
1Y
523.3%