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Australian (ASX) Industrials Sector Analysis

UpdatedMar 05, 2026
DataAggregated Company Financials
Companies126
  • 7D-2.6%
  • 3M-0.2%
  • 1Y8.1%
  • YTD-0.7%

Over the last 7 days, the Industrials industry has dropped 2.6%, driven by pullbacks in Qantas Airways and SGH of 6.1% and 4.0%, respectively. Meanwhile, Electro Optic Systems Holdings actually outperformed within the industry, gaining 11% in the last week. In the past year, the industry has gained 8.1%. 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
Thu, 05 Mar 2026AU$243.0bAU$148.2bAU$8.2b20x29.6x1.6x
Sat, 31 Jan 2026AU$244.3bAU$144.1bAU$8.0b21.1x30.5x1.7x
Mon, 29 Dec 2025AU$245.0bAU$144.9bAU$8.1b21x30.2x1.7x
Wed, 26 Nov 2025AU$243.5bAU$145.6bAU$8.2b19.8x29.6x1.7x
Fri, 24 Oct 2025AU$249.6bAU$145.1bAU$8.2b20x30.6x1.7x
Sun, 21 Sep 2025AU$243.6bAU$146.0bAU$8.2b20x29.7x1.7x
Tue, 19 Aug 2025AU$244.0bAU$144.5bAU$8.1b18.3x30x1.7x
Thu, 17 Jul 2025AU$235.6bAU$144.6bAU$8.4b17.7x28x1.6x
Sat, 14 Jun 2025AU$236.1bAU$145.0bAU$8.5b16.7x27.9x1.6x
Mon, 12 May 2025AU$228.9bAU$144.8bAU$8.2b16.8x27.8x1.6x
Wed, 09 Apr 2025AU$211.9bAU$147.2bAU$8.5b15.7x25x1.4x
Fri, 07 Mar 2025AU$225.5bAU$146.4bAU$8.4b16.9x27x1.5x
Sun, 02 Feb 2025AU$214.9bAU$121.7bAU$6.7b19.4x32.1x1.8x
Tue, 31 Dec 2024AU$209.6bAU$122.5bAU$6.7b19x31.2x1.7x
Thu, 28 Nov 2024AU$210.9bAU$121.5bAU$6.6b19.3x32x1.7x
Sat, 26 Oct 2024AU$200.0bAU$120.2bAU$6.5b20.2x30.7x1.7x
Mon, 23 Sep 2024AU$207.1bAU$122.7bAU$6.3b19.2x33.1x1.7x
Wed, 21 Aug 2024AU$201.3bAU$120.5bAU$5.5b18.1x36.6x1.7x
Fri, 19 Jul 2024AU$197.1bAU$120.6bAU$5.4b18.3x36.6x1.6x
Sun, 16 Jun 2024AU$191.4bAU$121.0bAU$5.4b17.8x35.5x1.6x
Tue, 14 May 2024AU$195.7bAU$122.0bAU$5.8b18x33.6x1.6x
Thu, 11 Apr 2024AU$201.6bAU$122.0bAU$5.8b18.7x34.5x1.7x
Sat, 09 Mar 2024AU$200.8bAU$122.0bAU$5.8b17x34.4x1.6x
Mon, 05 Feb 2024AU$187.8bAU$118.5bAU$4.8b18.5x39x1.6x
Wed, 03 Jan 2024AU$189.0bAU$117.7bAU$4.7b18.4x40x1.6x
Fri, 01 Dec 2023AU$177.8bAU$118.2bAU$4.8b16.8x37.2x1.5x
Sun, 29 Oct 2023AU$167.7bAU$118.8bAU$4.9b16.4x34.4x1.4x
Tue, 26 Sep 2023AU$179.0bAU$118.5bAU$4.8b17.1x37x1.5x
Thu, 24 Aug 2023AU$180.1bAU$115.8bAU$4.2b19.3x43.2x1.6x
Sat, 22 Jul 2023AU$181.2bAU$111.0bAU$3.5b18.9x51.2x1.6x
Mon, 19 Jun 2023AU$178.1bAU$109.5bAU$3.5b18.4x51.5x1.6x
Wed, 17 May 2023AU$177.8bAU$110.0bAU$3.5b18.1x50.8x1.6x
Fri, 14 Apr 2023AU$175.1bAU$109.8bAU$3.5b17.9x50.2x1.6x
Sun, 12 Mar 2023AU$148.0bAU$94.1bAU$3.5b16.7x42.1x1.6x
Price to Earnings Ratio

42.1x


Total Market Cap: AU$148.0bTotal Earnings: AU$3.5bTotal Revenue: AU$94.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Industrials Sector Price to Earnings3Y Average 35.1x202420252026
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 29.6x which is lower than its 3-year average PE of 35.1x.
  • 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-2.74%
Industrials-2.61%
Aerospace & Defense4.50%
Infrastructure0.13%
Commercial Services-0.56%
Transportation-0.56%
Logistics-1.34%
Professional Services-1.95%
Construction-4.11%
Trade Distributors-4.32%
Industrials-4.76%
Building-6.84%
Electrical-8.69%
Machinery-10.79%
Airlines-15.55%
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 60.6%, 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$9.4811.0%
+AU$181.4m		717.2%PS14.2x
CPU ComputershareAU$30.490.5%
+AU$92.5m		-25.3%PE20.8x
MGH MAAS Group HoldingsAU$4.914.7%
+AU$79.4m		29.2%PE22.5x
TEA TasmeaAU$4.307.2%
+AU$75.5m		63.5%PE23.5x
GNP GenusPlus GroupAU$7.923.5%
+AU$49.0m		179.9%PE30.9x

Latest News

QAN
AU$9.08
Qantas Airways
7D
-6.1%
1Y
-9.1%
ALX
AU$4.72
Atlas Arteria
7D
-4.1%
1Y
-6.0%
TEA
AU$4.30
Tasmea
7D
7.2%
1Y
63.5%
WOR
AU$11.03
Worley
7D
-5.8%
1Y
-24.7%
GNP
AU$7.92
GenusPlus Group
7D
3.5%
1Y
179.9%

GNP: Lower Discount Rate And Stable P/E Will Support Future Upside

Analysts have lifted their price target for GenusPlus Group from A$8.71 to A$8.94, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. Valuation Changes Fair Value: A$8.71 to A$8.94, risen slightly on the updated assumptions.
MGH
AU$4.91
MAAS Group Holdings
7D
4.7%
1Y
29.2%
ALQ
AU$24.47
ALS
7D
-4.0%
1Y
54.3%

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.
MND
AU$30.22
Monadelphous Group
7D
-6.9%
1Y
94.3%
EOS
AU$9.48
Electro Optic Systems Holdings
7D
11.0%
1Y
717.2%

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$2.29
Duratec
7D
9.0%
1Y
46.8%
BXB
AU$24.56
Brambles
7D
-1.4%
1Y
18.4%
RDX
AU$3.20
Redox
7D
1.3%
1Y
7.7%

RDX: Future Returns Will Reflect Dividend Stability And Slightly Refined Assumptions

Analysts have lifted their price target on Redox to A$3.30 from A$3.16, reflecting updated assumptions around modestly adjusted revenue growth, slightly higher profit margins and a marginally higher future P/E multiple. What's in the News Redox Limited declared an ordinary fully paid dividend of A$0.065 per share for the six month period ending December 31, 2025 (Key Developments).
CPU
AU$30.49
Computershare
7D
0.5%
1Y
-25.3%

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.
AAL
AU$0.35
Alfabs Australia
7D
18.6%
1Y
-22.2%
SGH
AU$44.63
SGH
7D
-4.0%
1Y
-12.0%

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).
DOW
AU$8.09
Downer EDI
7D
-4.7%
1Y
46.3%

DOW: Buyback And NZ Road Contracts Will Support A Measured Outlook

Analysts have lifted their price target on Downer EDI from A$7.70 to A$8.23, reflecting updated assumptions around revenue growth, profit margins, discount rates and future P/E following recent bullish Street research. Analyst Commentary Bullish Takeaways Bullish analysts see the revised A$8.23 target as better aligning with their updated revenue and margin assumptions, which they believe are now more in step with recent research views.