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Australian (ASX) Industrials Sector Analysis

UpdatedFeb 14, 2026
DataAggregated Company Financials
Companies125
  • 7D1.4%
  • 3M-0.1%
  • 1Y4.2%
  • YTD-1.8%

In the last week, Industrials has been flat. The past year has been better, since the industry has gained 5.7% in that time. 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
Sat, 14 Feb 2026AU$240.0bAU$143.9bAU$8.0b20.4x30x1.7x
Mon, 12 Jan 2026AU$245.3bAU$144.9bAU$8.1b20.7x30.2x1.7x
Wed, 10 Dec 2025AU$240.8bAU$145.0bAU$8.1b20.6x29.6x1.7x
Fri, 07 Nov 2025AU$243.7bAU$145.3bAU$8.2b20.2x29.8x1.7x
Sun, 05 Oct 2025AU$248.8bAU$146.0bAU$8.2b20x30.3x1.7x
Tue, 02 Sep 2025AU$246.8bAU$146.1bAU$8.2b19.8x30x1.7x
Thu, 31 Jul 2025AU$241.2bAU$144.7bAU$8.4b18.1x28.6x1.7x
Sat, 28 Jun 2025AU$233.8bAU$144.8bAU$8.4b16.8x27.7x1.6x
Mon, 26 May 2025AU$230.3bAU$144.6bAU$8.2b16.8x28.1x1.6x
Wed, 23 Apr 2025AU$215.4bAU$146.1bAU$8.3b15.5x25.9x1.5x
Fri, 21 Mar 2025AU$219.4bAU$146.5bAU$8.4b16x26.2x1.5x
Sun, 16 Feb 2025AU$218.8bAU$121.5bAU$7.1b20.5x30.9x1.8x
Tue, 14 Jan 2025AU$208.1bAU$121.9bAU$6.7b19.5x30.9x1.7x
Thu, 12 Dec 2024AU$207.3bAU$122.2bAU$6.7b20.5x31.1x1.7x
Sat, 09 Nov 2024AU$204.2bAU$120.1bAU$6.5b20.1x31.4x1.7x
Mon, 07 Oct 2024AU$204.2bAU$120.5bAU$6.5b19.8x31.5x1.7x
Wed, 04 Sep 2024AU$207.4bAU$122.2bAU$6.2b18.7x33.2x1.7x
Fri, 02 Aug 2024AU$202.2bAU$121.3bAU$5.5b18.5x37x1.7x
Sun, 30 Jun 2024AU$191.9bAU$120.9bAU$5.4b17.5x35.6x1.6x
Tue, 28 May 2024AU$186.6bAU$120.8bAU$5.1b17.8x36.9x1.5x
Thu, 25 Apr 2024AU$196.3bAU$122.2bAU$5.8b18.5x33.8x1.6x
Sat, 23 Mar 2024AU$198.2bAU$122.3bAU$5.9b18.3x33.7x1.6x
Mon, 19 Feb 2024AU$191.5bAU$119.0bAU$5.2b17.4x36.9x1.6x
Wed, 17 Jan 2024AU$185.5bAU$118.2bAU$4.8b18.2x38.8x1.6x
Fri, 15 Dec 2023AU$181.5bAU$117.9bAU$4.7b17.6x38.2x1.5x
Sun, 12 Nov 2023AU$174.7bAU$118.7bAU$4.9b16.5x36x1.5x
Tue, 10 Oct 2023AU$173.7bAU$118.7bAU$4.9b16.2x35.8x1.5x
Thu, 07 Sep 2023AU$181.6bAU$118.6bAU$4.9b17x37.3x1.5x
Sat, 05 Aug 2023AU$182.9bAU$111.5bAU$3.6b19.1x50.9x1.6x
Mon, 03 Jul 2023AU$180.0bAU$110.0bAU$3.5b18.5x51.8x1.6x
Wed, 31 May 2023AU$177.1bAU$110.3bAU$3.5b18.4x50x1.6x
Fri, 28 Apr 2023AU$177.6bAU$110.1bAU$3.5b18.2x50.6x1.6x
Sun, 26 Mar 2023AU$159.4bAU$99.6bAU$3.5b17.2x45.3x1.6x
Tue, 21 Feb 2023AU$148.7bAU$88.8bAU$3.0b18.8x49.5x1.7x
Price to Earnings Ratio

49.5x


Total Market Cap: AU$148.7bTotal Earnings: AU$3.0bTotal Revenue: AU$88.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Industrials Sector Price to Earnings3Y Average 35.4x202420252026
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 30.4x which is lower than its 3-year average PE of 35.4x.
  • 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 38% per year over the last three years.
  • Revenues for these companies have grown 17% 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 Market2.05%
Industrials1.41%
Building7.21%
Machinery3.83%
Trade Distributors2.72%
Construction2.40%
Infrastructure2.34%
Airlines1.93%
Transportation1.33%
Professional Services0.14%
Industrials0%0
Commercial Services-0.22%
Electrical-0.48%
Logistics-3.62%
Aerospace & Defense-4.30%
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 56.7%, 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 57% 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
TCL Transurban GroupAU$14.002.6%
+AU$1.1b		5.3%PE327.9x
SGH SGHAU$47.904.0%
+AU$765.3m		-12.2%PE39.1x
ALQ ALSAU$24.024.7%
+AU$543.1m		42.9%PE45x
QAN Qantas AirwaysAU$10.362.1%
+AU$311.2m		10.8%PE9.6x
RWC Reliance WorldwideAU$3.948.2%
+AU$229.2m		-25.5%PE17x

Latest News

CPU
AU$30.17
Computershare
7D
-2.9%
1Y
-29.0%
SGH
AU$47.90
SGH
7D
4.0%
1Y
-12.2%
TCL
AU$14.00
Transurban Group
7D
2.6%
1Y
5.3%

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

Analysts have maintained their A$14.36 price target for Transurban Group, citing a slightly higher discount rate and revenue growth outlook, along with a lower profit margin and a higher assumed future P/E multiple. What's in the News The West Gate Tunnel Project is scheduled to open to traffic on Sunday 14 December 2025, providing an alternative route to the West Gate Bridge and connecting the West Gate Freeway to the Port of Melbourne and CityLink (Key Developments).
RDX
AU$2.74
Redox
7D
-9.3%
1Y
-36.4%

RDX: Future Returns Will Reflect Stable Fair Value And Refined Assumptions

Analysts have adjusted their price target for Redox slightly, citing small shifts in inputs such as the discount rate, revenue growth expectations around 11.09%, profit margin assumptions around 6.64%, and a future P/E of about 18.35x. Together, these factors refine but do not materially change their overall valuation framework, which is currently anchored around a fair value of $3.16.
ALQ
AU$24.02
ALS
7D
4.7%
1Y
42.9%

Market Participants Recognise ALS Limited's (ASX:ALQ) Revenues

Feb 10
Market Participants Recognise ALS Limited's (ASX:ALQ) Revenues
NWH
AU$5.42
NRW Holdings
7D
8.4%
1Y
58.9%

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$4.85
Qube Holdings
7D
2.3%
1Y
18.3%

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$4.87
Austal
7D
-15.0%
1Y
30.6%

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.
BXB
AU$23.30
Brambles
7D
-0.9%
1Y
20.9%

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.
QAN
AU$10.36
Qantas Airways
7D
2.1%
1Y
10.8%

QAN: Lower Discount Rate And Margins Will Support Stronger Future Share Price Upside

Analysts have nudged their fair value estimate for Qantas Airways slightly higher to A$12.24 from A$12.20, reflecting updated assumptions around discount rates, revenue, profit margins and future P/E levels. Valuation Changes Fair Value Estimate nudged up slightly to A$12.24 from A$12.20.
3DA
AU$0.27
Amaero
7D
-11.5%
1Y
-19.4%
EOS
AU$5.86
Electro Optic Systems Holdings
7D
-2.3%
1Y
349.0%

EOS: Higher Profitability And P/E Expansion Will Lift Future Share Appeal

Analysts now place the fair value for Electro Optic Systems Holdings at A$12.00, up from A$1.58, citing updated assumptions regarding revenue growth, profit margins, and the future P/E multiple. Valuation Changes Fair Value Estimate: Reset from A$1.58 to A$12.00, indicating a materially higher assessed value per share based on the updated model inputs.
SIQ
AU$8.13
Smartgroup
7D
-4.5%
1Y
2.9%
CWY
AU$2.37
Cleanaway Waste Management
7D
-1.7%
1Y
-12.9%
VGN
AU$3.26
Virgin Australia Holdings
7D
9.0%
1Y
n/a
RWC
AU$3.94
Reliance Worldwide
7D
8.2%
1Y
-25.5%