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Australian (ASX) Industrials Sector Analysis

UpdatedJan 06, 2026
DataAggregated Company Financials
Companies125
  • 7D0.2%
  • 3M-1.9%
  • 1Y9.6%
  • YTD-0.3%

Over the last 7 days, the Industrials industry has remained flat, although notably Worley gained 5.5%. As for the the longer term, the industry is up 9.6% over the past 12 months. As for the next few years, earnings are expected to grow by 18% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Fri, 13 Jan 2023AU$143.1bAU$87.4bAU$3.7b19.2x38.7x1.6x
Price to Earnings Ratio

38.7x


Total Market Cap: AU$143.1bTotal Earnings: AU$3.7bTotal Revenue: AU$87.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Industrials Sector Price to Earnings3Y Average 35.7x202420252026
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 30.0x which is lower than its 3-year average PE of 35.7x.
  • 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 30% 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 Market0.047%
Industrials0.20%
Machinery7.69%
Construction2.95%
Aerospace & Defense2.40%
Airlines2.01%
Building1.84%
Electrical1.49%
Logistics0.95%
Trade Distributors0.83%
Commercial Services-0.47%
Industrials-0.50%
Professional Services-0.55%
Infrastructure-1.53%
Transportation-1.90%
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 59.2%, 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 7.4% 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
WOR WorleyAU$13.215.5%
+AU$347.0m		-4.3%PE16.4x
QAN Qantas AirwaysAU$10.492.0%
+AU$311.2m		16.9%PE9.7x
SLX Silex SystemsAU$9.7511.6%
+AU$280.8m		69.0%PS198.2x
QUB Qube HoldingsAU$4.812.8%
+AU$230.1m		19.1%PE75.2x
REH ReeceAU$13.362.8%
+AU$221.4m		-41.3%PE25.9x

Latest News

ALQ
AU$21.97
ALS
7D
-0.6%
1Y
43.6%

ALQ: Raised FY26 Guidance And Dividend Will Support Stronger Future Returns

The analyst price target for ALS has been raised from $20.95 to $26.00, as analysts point to slightly stronger expected revenue growth, improved profit margin forecasts, and a higher assumed future P E multiple despite a modest uptick in the discount rate. What's in the News ALS Limited raised its fiscal 2026 guidance, now expecting 6 to 8% organic revenue growth, up from 5 to 7%, alongside steady margin improvement in FY26 (company guidance) The company declared an ordinary interim dividend of AUD 0.194 per share, partially franked to 30%, a 2.6% increase versus the prior comparable period and representing a 55% payout ratio of H1 FY26 underlying NPAT (company announcement) The interim dividend will be paid on 17 December 2025 to shareholders on the register at 27 November 2025, with an ex dividend date of 26 November 2025 (company announcement) Valuation Changes Consensus Analyst Price Target has risen significantly, increasing from A$20.95 to A$26.00.
CPU
AU$33.99
Computershare
7D
-0.6%
1Y
-2.9%

Computershare Limited's (ASX:CPU) Intrinsic Value Is Potentially 36% Above Its Share Price

Jan 05
Computershare Limited's (ASX:CPU) Intrinsic Value Is Potentially 36% Above Its Share Price
BXB
AU$22.54
Brambles
7D
-0.8%
1Y
13.8%

Is Brambles (ASX:BXB) A Risky Investment?

Dec 28
Is Brambles (ASX:BXB) A Risky Investment?
REH
AU$13.36
Reece
7D
2.8%
1Y
-41.3%

REH Will Face Weaker Margins Despite Expanded Share Buyback Program

Analysts have trimmed their price target on Reece from 12.50 dollars to 10.00 dollars, reflecting slightly higher perceived risk, a modestly stronger revenue growth outlook, and expectations for lower profit margins and valuation multiples. What's in the News Reece increased its equity buyback authorization by AUD 50 million on December 22, 2025, lifting the total program size to AUD 85 million (company announcement).
TCL
AU$14.04
Transurban Group
7D
-2.6%
1Y
2.2%

Is Transurban Group (ASX:TCL) A Risky Investment?

Dec 25
Is Transurban Group (ASX:TCL) A Risky Investment?
VNT
AU$6.07
Ventia Services Group
7D
2.4%
1Y
69.1%

We Ran A Stock Scan For Earnings Growth And Ventia Services Group (ASX:VNT) Passed With Ease

Dec 25
We Ran A Stock Scan For Earnings Growth And Ventia Services Group (ASX:VNT) Passed With Ease
QUB
AU$4.81
Qube Holdings
7D
2.8%
1Y
19.1%

QUB: Takeover Offer And Stable Outlook Will Likely Support Balanced Future Returns

Analysts have nudged their price target on Qube Holdings slightly higher to approximately $5.00 per share, citing marginal improvements in discount rate assumptions and stable long term growth and profitability expectations. What's in the News Macquarie Asset Management has entered into a process deed to acquire Qube Holdings in an all cash transaction valuing the company at AUD 9.2 billion, or AUD 5.20 per share (Key Developments) The proposed acquisition is contingent on satisfactory completion of due diligence on Qube and its operations by Macquarie Asset Management (Key Developments) Completion also requires a Scheme Implementation Agreement on customary terms, unanimous recommendation from the Qube Board, and final approvals from both Qube and Macquarie Asset Management (Key Developments) Regulatory clearances from the Foreign Investment Review Board and the Australian Competition and Consumer Commission are required before the deal can proceed (Key Developments) UBS is acting as financial advisor and Allens as legal advisor to Qube Holdings for the proposed transaction (Key Developments) Valuation Changes Fair Value Estimate remained unchanged at approximately A$4.99 per share, reflecting stable long term assumptions.
MGH
AU$5.79
MAAS Group Holdings
7D
6.4%
1Y
24.8%
QAN
AU$10.49
Qantas Airways
7D
2.0%
1Y
16.9%

QAN: Lower Risk Outlook Will Support Stronger Future Share Price Upside

Analysts have nudged their Qantas Airways price target slightly higher to reflect modestly lower perceived risk and marginally improved long term earnings visibility, even as fair value estimates remain broadly unchanged. Valuation Changes Fair Value: Unchanged at A$12.09 per share, indicating no material revision to the central valuation estimate.
KLS
AU$4.18
Kelsian Group
7D
-2.6%
1Y
16.1%
WOR
AU$13.21
Worley
7D
5.5%
1Y
-4.3%
GNP
AU$5.96
GenusPlus Group
7D
-2.8%
1Y
137.5%

GNP: Index Inclusion And Stable Outlook Will Support Balanced Share Performance

Analysts have raised their price target for GenusPlus Group from A$5.75 to A$6.50, reflecting slightly higher assumed revenue growth, modestly improved profit margins, and a richer future earnings multiple despite a marginally higher discount rate. What's in the News GenusPlus Group Ltd (ASX:GNP) has been added to the S&P Global BMI Index.
DRO
AU$3.31
DroneShield
7D
5.8%
1Y
350.3%

DRO: Index Inclusion And Defence Partnerships Will Support Future Upside Potential

Analysts have modestly increased their price target for DroneShield to $5.15, reflecting slightly higher long term growth and valuation assumptions, despite largely unchanged fair value estimates. What's in the News Critical Infrastructure Technologies signs a new NDA with DroneShield to integrate Counter Unmanned Aerial Systems capabilities into the Nexus 20 platform requested by the Ukrainian Ministry of Defence, advancing design work on a secure, resilient defence system (Key Developments) The Nexus 20 program, covering 50 platforms, moves forward with parallel telecommunications and C UAS integration in partnership frameworks that already include Babcock International, Nokia, and Ericsson (Key Developments) DroneShield is added to the S and P ASX 200 Index, which may increase its visibility and potential inclusion in institutional portfolios (Key Developments) DroneShield is also added to the S and P ASX 200 Industrials Sector Index, reinforcing its status as a notable participant in the Australian industrials universe (Key Developments) Valuation Changes Fair Value: Unchanged at A$5.15 per share, indicating stable long term intrinsic value assumptions.
AZJ
AU$3.58
Aurizon Holdings
7D
-1.9%
1Y
10.5%

A Look At The Fair Value Of Aurizon Holdings Limited (ASX:AZJ)

Nov 28
A Look At The Fair Value Of Aurizon Holdings Limited (ASX:AZJ)
SLX
AU$9.75
Silex Systems
7D
11.6%
1Y
69.0%
SIQ
AU$8.87
Smartgroup
7D
-2.5%
1Y
14.0%

The Smartgroup Corporation Ltd (ASX:SIQ) Half-Year Results Are Out And Analysts Have Published New Forecasts

Aug 30
The Smartgroup Corporation Ltd (ASX:SIQ) Half-Year Results Are Out And Analysts Have Published New Forecasts