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Australian (ASX) Industrials Sector Analysis

UpdatedFeb 19, 2026
DataAggregated Company Financials
Companies125
  • 7D-0.8%
  • 3M2.3%
  • 1Y6.5%
  • YTD-0.3%

Over the last 7 days, the Industrials industry has remained flat, although notably SGH declined by 6.7%. As for the the longer term, the industry is up 5.4% over the past 12 months. 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
Thu, 19 Feb 2026AU$243.8bAU$144.0bAU$8.0b20.5x30.6x1.7x
Sat, 17 Jan 2026AU$249.8bAU$144.9bAU$8.1b21.2x30.8x1.7x
Mon, 15 Dec 2025AU$240.1bAU$145.0bAU$8.1b20.8x29.5x1.7x
Wed, 12 Nov 2025AU$243.9bAU$145.2bAU$8.2b20.4x29.8x1.7x
Fri, 10 Oct 2025AU$249.6bAU$146.0bAU$8.2b19.8x30.6x1.7x
Sun, 07 Sep 2025AU$247.2bAU$146.1bAU$8.2b19.6x30x1.7x
Tue, 05 Aug 2025AU$238.9bAU$144.8bAU$8.5b17.9x28.3x1.7x
Thu, 03 Jul 2025AU$235.1bAU$144.7bAU$8.4b16.7x27.9x1.6x
Sat, 31 May 2025AU$232.9bAU$145.1bAU$8.5b16.8x27.5x1.6x
Mon, 28 Apr 2025AU$220.8bAU$146.1bAU$8.3b15.8x26.5x1.5x
Wed, 26 Mar 2025AU$220.4bAU$146.4bAU$8.4b16.1x26.4x1.5x
Fri, 21 Feb 2025AU$218.9bAU$122.2bAU$7.0b18.8x31.4x1.8x
Sun, 19 Jan 2025AU$210.7bAU$121.8bAU$6.7b19.2x31.4x1.7x
Tue, 17 Dec 2024AU$204.3bAU$122.2bAU$6.7b20.1x30.6x1.7x
Thu, 14 Nov 2024AU$203.0bAU$120.4bAU$6.5b20.3x31x1.7x
Sat, 12 Oct 2024AU$206.6bAU$121.0bAU$6.5b19.8x31.6x1.7x
Mon, 09 Sep 2024AU$206.4bAU$123.4bAU$6.3b18.4x32.6x1.7x
Wed, 07 Aug 2024AU$192.9bAU$121.4bAU$5.5b17.8x35.1x1.6x
Fri, 05 Jul 2024AU$190.8bAU$120.6bAU$5.4b17.8x35.4x1.6x
Sun, 02 Jun 2024AU$192.3bAU$120.9bAU$5.4b17.9x35.7x1.6x
Tue, 30 Apr 2024AU$195.0bAU$122.0bAU$5.8b18.7x33.7x1.6x
Thu, 28 Mar 2024AU$199.5bAU$122.3bAU$5.9b18.6x34x1.6x
Sat, 24 Feb 2024AU$194.4bAU$120.4bAU$5.6b17.2x34.7x1.6x
Mon, 22 Jan 2024AU$184.5bAU$118.2bAU$4.8b18.2x38.6x1.6x
Wed, 20 Dec 2023AU$186.2bAU$117.9bAU$4.7b17.6x39.3x1.6x
Fri, 17 Nov 2023AU$177.4bAU$118.4bAU$4.8b16.4x36.9x1.5x
Sun, 15 Oct 2023AU$175.3bAU$118.9bAU$4.9b16.7x36x1.5x
Tue, 12 Sep 2023AU$181.2bAU$118.6bAU$4.8b16.9x37.5x1.5x
Thu, 10 Aug 2023AU$183.3bAU$111.6bAU$3.6b19.3x51x1.6x
Sat, 08 Jul 2023AU$176.4bAU$111.2bAU$3.6b18.5x49.6x1.6x
Mon, 05 Jun 2023AU$175.8bAU$110.2bAU$3.5b17.4x49.9x1.6x
Wed, 03 May 2023AU$178.2bAU$110.1bAU$3.5b18.3x50.8x1.6x
Fri, 31 Mar 2023AU$162.2bAU$99.5bAU$3.5b17.9x46.2x1.6x
Sun, 26 Feb 2023AU$149.9bAU$92.8bAU$3.3b18.4x45.8x1.6x
Price to Earnings Ratio

45.8x


Total Market Cap: AU$149.9bTotal Earnings: AU$3.3bTotal Revenue: AU$92.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Industrials Sector Price to Earnings3Y Average 35.3x202420252026
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 30.5x which is lower than its 3-year average PE of 35.3x.
  • 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 35% 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-0.51%
Industrials-0.75%
Transportation7.54%
Infrastructure2.03%
Airlines1.97%
Logistics0.82%
Commercial Services0.63%
Industrials0%0
Construction-1.10%
Professional Services-1.69%
Aerospace & Defense-2.08%
Electrical-2.19%
Machinery-4.18%
Trade Distributors-7.28%
Building-14.39%
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 58.5%, 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$24.386.0%
+AU$1.9b		22.3%PE27x
AZJ Aurizon HoldingsAU$4.0612.2%
+AU$741.6m		23.8%PE22.8x
CPU ComputershareAU$31.222.6%
+AU$456.9m		-27.6%PE21.3x
QAN Qantas AirwaysAU$10.742.5%
+AU$385.3m		16.5%PE9.9x
QUB Qube HoldingsAU$5.064.3%
+AU$371.7m		25.2%PE79.1x

Latest News

AZJ
AU$4.06
Aurizon Holdings
7D
12.2%
1Y
23.8%
SRG
AU$2.88
SRG Global
7D
-2.7%
1Y
113.3%
QAN
AU$10.74
Qantas Airways
7D
2.5%
1Y
16.5%

QAN: Higher Future P/E Will Support Stronger Share Price Upside

Analysts have trimmed their fair value estimate for Qantas Airways slightly to A$12.21 from A$12.24 as small adjustments to the discount rate, revenue growth and profit margin assumptions feed through to a modestly higher future P/E of about 11.25x. Valuation Changes Fair Value: Adjusted slightly to A$12.21 from A$12.24, reflecting small model updates.
RWC
AU$3.39
Reliance Worldwide
7D
-15.7%
1Y
-32.2%

RWC: Share Buyback And Dividend Policy Will Support Future Upside Potential

Analysts have reduced their price target for Reliance Worldwide by around A$0.54, reflecting updated assumptions that include a slightly higher discount rate, a modest adjustment to profit margins and a small change in the future P/E multiple. What's in the News The board authorized a share buyback plan on 17 February 2026, indicating approval for the company to repurchase its own shares over time (company announcement).
EOS
AU$7.38
Electro Optic Systems Holdings
7D
20.2%
1Y
497.6%
SGH
AU$47.81
SGH
7D
-2.9%
1Y
-11.1%
REH
AU$13.88
Reece
7D
-7.0%
1Y
-36.9%

What Is Reece Limited's (ASX:REH) Share Price Doing?

Feb 14
What Is Reece Limited's (ASX:REH) Share Price Doing?
CPU
AU$31.22
Computershare
7D
2.6%
1Y
-27.6%
WOR
AU$13.33
Worley
7D
-2.4%
1Y
-7.6%

WOR: FY2026 Guidance Will Set Up A More Supportive Outlook

Analysts have trimmed their price target for Worley slightly to A$16.44 from A$16.44, reflecting modest tweaks to the discount rate, revenue growth, profit margin and forward P/E assumptions while keeping their overall view broadly unchanged. What's in the News Worley Limited issued earnings guidance for full year 2026, giving investors a time frame to watch for the next major update on the business (Key Developments).
NWH
AU$6.12
NRW Holdings
7D
11.9%
1Y
86.3%

NWH: Earnings Outlook And Dividend Will Continue To Support Steady Fair Value

Analysts have kept their price target for NRW Holdings broadly steady at A$5.45, with the slight adjustment based on updated assumptions for the discount rate, revenue growth, profit margins and a future P/E of 17.43x. Valuation Changes Fair Value Estimate: Kept steady at A$5.45 per share, with no change in the modelled fair value.
QUB
AU$5.06
Qube Holdings
7D
4.3%
1Y
25.2%

QUB: Takeover Proposal And Stable Outlook Will Likely Support Balanced Returns

Analysts have slightly increased their price target for Qube Holdings to about A$5.00 from roughly A$4.99, citing modest adjustments in fair value, discount rate, revenue growth, profit margin and future P/E assumptions as the main factors behind this change. What's in the News Macquarie Asset Management Pty Limited entered into a process deed to acquire Qube Holdings Limited (ASX:QUB) for about A$9.2b, offering cash consideration of A$5.20 per share (Key Developments).
ASB
AU$5.97
Austal
7D
-5.4%
1Y
67.2%

ASB: AI Digital Twin Expansion Will Support Steady Long Term Earnings Power

Analysts have raised their price target on Austal slightly, citing modestly higher assumptions for revenue growth and profit margins, along with a marginally higher discount rate and a comparable future P/E. Taken together, these factors leave their fair value estimate broadly unchanged at A$8.10.
DOW
AU$7.81
Downer EDI
7D
-0.9%
1Y
40.0%

DOW: Future Contract Execution Risks Will Likely Restrain Upside Potential

Analysts have lifted their fair value estimate for Downer EDI from A$5.40 to A$6.70, with the higher target linked to updated assumptions around revenue growth, profit margins, discount rate and future P/E, as well as a recent constructive initiation of coverage from the Street. Analyst Commentary While some research has highlighted a constructive view on Downer EDI, bearish analysts are still flagging several areas of concern that they believe could cap upside for the shares and restrain valuation multiples.
BXB
AU$24.38
Brambles
7D
6.0%
1Y
22.3%

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$5.76
Ventia Services Group
7D
6.3%
1Y
34.9%

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).
LYL
AU$15.00
Lycopodium
7D
-5.4%
1Y
45.8%