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Australian (ASX) Industrials Sector Analysis

UpdatedJul 22, 2026
DataAggregated Company Financials
Companies130
  • 7D0.6%
  • 3M4.7%
  • 1Y2.7%
  • YTD0.05%

The Industrials industry has been flat over the last week, but Electro Optic Systems Holdings has lost 14%. In line with that, the industry has also been flat over the past 12 months. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Jul 2026AU$245.8bAU$150.2bAU$8.3b18.8x29.6x1.6x
Fri, 19 Jun 2026AU$248.6bAU$148.6bAU$8.2b19.8x30.2x1.7x
Sun, 17 May 2026AU$236.9bAU$148.1bAU$8.2b19.1x29.1x1.6x
Tue, 14 Apr 2026AU$231.3bAU$148.3bAU$8.2b19.1x28.2x1.6x
Thu, 12 Mar 2026AU$234.8bAU$148.0bAU$8.2b18.6x28.8x1.6x
Sat, 07 Feb 2026AU$236.7bAU$144.2bAU$8.0b20.1x29.5x1.6x
Mon, 05 Jan 2026AU$244.5bAU$144.9bAU$8.1b20.9x30.1x1.7x
Wed, 03 Dec 2025AU$244.4bAU$145.4bAU$8.2b20.4x29.9x1.7x
Fri, 31 Oct 2025AU$247.8bAU$145.1bAU$8.2b20.1x30.4x1.7x
Sun, 28 Sep 2025AU$242.5bAU$146.1bAU$8.2b20x29.5x1.7x
Tue, 26 Aug 2025AU$246.8bAU$145.1bAU$8.1b18x30.5x1.7x
Thu, 24 Jul 2025AU$240.3bAU$144.4bAU$8.4b17.8x28.6x1.7x
Sat, 21 Jun 2025AU$238.0bAU$144.9bAU$8.4b16.7x28.2x1.6x
Mon, 19 May 2025AU$232.9bAU$144.9bAU$8.2b17.3x28.3x1.6x
Wed, 16 Apr 2025AU$217.6bAU$146.3bAU$8.3b16x26.1x1.5x
Fri, 14 Mar 2025AU$214.4bAU$146.5bAU$8.4b16.1x25.6x1.5x
Sun, 09 Feb 2025AU$212.9bAU$121.5bAU$6.7b19.8x31.8x1.8x
Tue, 07 Jan 2025AU$211.5bAU$122.4bAU$6.7b19x31.6x1.7x
Thu, 05 Dec 2024AU$211.3bAU$121.6bAU$6.6b19.8x31.9x1.7x
Sat, 02 Nov 2024AU$197.1bAU$120.3bAU$6.5b19.8x30.2x1.6x
Mon, 30 Sep 2024AU$204.8bAU$120.2bAU$6.5b19.5x31.7x1.7x
Wed, 28 Aug 2024AU$204.3bAU$121.8bAU$6.0b17x34x1.7x
Fri, 26 Jul 2024AU$196.5bAU$121.1bAU$5.4b18.1x36.1x1.6x
Sun, 23 Jun 2024AU$191.2bAU$120.9bAU$5.4b17.7x35.5x1.6x
Tue, 21 May 2024AU$192.3bAU$121.4bAU$5.8b18.1x33.3x1.6x
Thu, 18 Apr 2024AU$196.3bAU$122.4bAU$5.8b18.6x33.6x1.6x
Sat, 16 Mar 2024AU$195.9bAU$122.2bAU$5.9b17.4x33.4x1.6x
Mon, 12 Feb 2024AU$187.7bAU$117.8bAU$5.1b18.8x37x1.6x
Wed, 10 Jan 2024AU$189.3bAU$118.0bAU$4.8b18.2x39.8x1.6x
Fri, 08 Dec 2023AU$179.0bAU$118.3bAU$4.8b17.9x37.4x1.5x
Sun, 05 Nov 2023AU$173.5bAU$118.3bAU$4.8b16.7x36x1.5x
Tue, 03 Oct 2023AU$177.2bAU$118.6bAU$4.8b16.6x36.6x1.5x
Thu, 31 Aug 2023AU$184.4bAU$117.6bAU$4.1b18.3x45.5x1.6x
Sat, 29 Jul 2023AU$184.2bAU$111.3bAU$3.6b19.3x51.6x1.7x
Price to Earnings Ratio

51.6x


Total Market Cap: AU$184.2bTotal Earnings: AU$3.6bTotal Revenue: AU$111.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Industrials Sector Price to Earnings3Y Average 32.5x202420252026
Current Industry PE
  • Investors are relatively neutral on the Australian Industrials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 32.5x.
  • 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 11% 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-0.20%
Industrials0.56%
Construction1.93%
Commercial Services1.69%
Trade Distributors1.45%
Building0.83%
Professional Services0.73%
Transportation0.50%
Infrastructure0.0094%
Airlines-1.07%
Logistics-1.77%
Electrical-3.52%
Industrials-3.64%
Machinery-5.46%
Aerospace & Defense-5.53%
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 62.0%, which is lower than the prior year's growth of 240.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Aerospace & Defense industry, expecting annual earnings growth of 62% over the next 5 years.
  • However this is lower than its past earnings growth rate of 240% per year.
  • In contrast, the Transportation industry is expected to see its earnings grow by 7.2% 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
CPU ComputershareAU$39.892.4%
+AU$537.9m		-4.1%PE27x
BXB BramblesAU$19.071.6%
+AU$400.7m		-18.8%PE19.3x
TCL Transurban GroupAU$14.600.8%
+AU$343.2m		7.0%PE95.3x
AZJ Aurizon HoldingsAU$4.321.4%
+AU$101.0m		29.7%PE23.8x
SGH SGHAU$44.050.5%
+AU$85.4m		-16.4%PE35.9x

Latest News

CWY
AU$2.31
Cleanaway Waste Management
7D
-1.3%
1Y
-20.3%
ASB
AU$3.72
Austal
7D
5.4%
1Y
-39.7%
ALQ
AU$22.33
ALS
7D
0.4%
1Y
24.0%
GNP
AU$9.12
GenusPlus Group
7D
-3.8%
1Y
111.6%
CPU
AU$39.89
Computershare
7D
2.4%
1Y
-4.1%
New Narrative • Jul 11

Does CPU Compute?

At A$39.735 per share, Computershare (ASX: CPU) appears reasonably valued based on its current operating performance and FY26 earnings guidance, although the price does not appear particularly cheap. Computershare has affirmed FY26 management EPS guidance of approximately US$1.44 per share, representing growth of around 6%.
EOS
AU$7.14
Electro Optic Systems Holdings
7D
-13.6%
1Y
117.0%
DRO
AU$2.16
DroneShield
7D
-8.9%
1Y
-39.7%
Narrative Update • Jul 10

DRO: World Cup Security Wins Will Offset ASIC Investigation Risk

Analysts have reduced their price target for DroneShield to A$2.28 from A$3.70, citing updated assumptions for discount rates, revenue growth, profit margins, and a lower future P/E multiple. What’s in the News for DroneShield Kansas City Police Department and regional agencies selected DroneShield as the primary counter-UAS detection and threat response layer in a new integrated drone operations and security platform for FIFA World Cup 2026 venues and public spaces, funded by the U.S. Counter-UAS Grant Program (source: client announcement).
REH
AU$15.83
Reece
7D
-0.9%
1Y
16.7%
BXB
AU$19.07
Brambles
7D
1.6%
1Y
-18.8%
Narrative Update • Jul 07

BXB: Share Pullback And Buyback Activity Will Support Future Upside Potential

Analysts have trimmed their Brambles fair value estimate from about A$27.62 to A$26.85. This reflects slightly softer assumptions on revenue growth and profit margins, even as recent upgrades to Neutral and Buy highlight improved valuation support after the share pullback.
QAN
AU$10.16
Qantas Airways
7D
-1.2%
1Y
-6.8%
Narrative Update • Jul 07

QAN: Project Sunrise And Capital Returns Will Shape Future Rebound Potential

Analysts have nudged their Qantas Airways valuation higher, lifting the price target from A$11.07 to A$11.32 as they factor in a slightly lower discount rate, modestly adjusted revenue growth expectations, a small uplift in forecast profit margins, and a marginally higher future P/E assumption. What’s in the News for Qantas Airways Qantas plans to launch daily non stop Sydney to London flights under Project Sunrise from October 2027, with features such as a wellbeing zone, mood lighting and guided circulation activities to support passenger comfort, supported by input from sleep medicine expert Professor Peter Cistulli.
VNT
AU$5.98
Ventia Services Group
7D
1.4%
1Y
14.6%
VGN
AU$2.71
Virgin Australia Holdings
7D
-6.2%
1Y
-15.3%
TCL
AU$14.60
Transurban Group
7D
0.8%
1Y
7.0%
RWC
AU$3.60
Reliance Worldwide
7D
-2.7%
1Y
-17.8%
AZJ
AU$4.32
Aurizon Holdings
7D
1.4%
1Y
29.7%
Narrative Update • Jun 24

AZJ: Stable Fair Value And Rich P/E Will Shape Cautious Outlook

Analysts have made a minor adjustment to Aurizon Holdings' valuation, nudging the indicative fair value to A$3.87 following small tweaks to the discount rate, revenue growth assumptions, profit margin and future P/E expectations in the updated price target framework. What’s in the News for Aurizon Holdings No recent Aurizon Holdings specific news items were identified in the provided sources.
SGH
AU$44.05
SGH
7D
0.5%
1Y
-16.4%
Narrative Update • Jun 23

SGH: Future Crux Cashflows And Buyback Plan Balance Sector Risks

Analysts have trimmed their fair value estimate for SGH to about A$49 from roughly A$51, reflecting slightly higher perceived risk and a modestly lower future P/E assumption, even as they factor in stronger revenue growth supported by new coverage and expectations for meaningful cashflow from the Crux project from FY29/30 onwards. Analyst Commentary Recent research on SGH highlights a mix of optimism around long term project cashflows and caution on nearer term sector conditions.