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Australian (ASX) Industrials Sector Analysis

UpdatedJan 29, 2026
DataAggregated Company Financials
Companies125
  • 7D0.4%
  • 3M-0.6%
  • 1Y9.4%
  • YTD0.9%

Over the last 7 days, the Industrials industry has remained flat, although notably Reece gained 6.4%. The past year has been better, since the industry has gained 9.4% in that time. 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
Thu, 29 Jan 2026AU$246.6bAU$144.1bAU$8.0b20.9x30.8x1.7x
Sat, 27 Dec 2025AU$245.0bAU$144.9bAU$8.1b21x30.2x1.7x
Mon, 24 Nov 2025AU$236.0bAU$145.6bAU$8.2b20.1x28.7x1.6x
Wed, 22 Oct 2025AU$251.8bAU$146.3bAU$8.2b20.1x30.7x1.7x
Fri, 19 Sep 2025AU$243.2bAU$145.8bAU$8.2b20.9x29.7x1.7x
Sun, 17 Aug 2025AU$244.1bAU$144.5bAU$8.1b18.2x30x1.7x
Tue, 15 Jul 2025AU$234.4bAU$144.5bAU$8.4b17.7x27.9x1.6x
Thu, 12 Jun 2025AU$236.4bAU$144.9bAU$8.4b17.1x28x1.6x
Sat, 10 May 2025AU$229.0bAU$144.9bAU$8.2b16.8x27.8x1.6x
Mon, 07 Apr 2025AU$213.4bAU$147.2bAU$8.5b15.8x25.2x1.4x
Wed, 05 Mar 2025AU$228.6bAU$146.6bAU$8.4b16.8x27.2x1.6x
Fri, 31 Jan 2025AU$214.2bAU$121.7bAU$6.7b19.5x32x1.8x
Sun, 29 Dec 2024AU$210.2bAU$122.6bAU$6.7b18.7x31.3x1.7x
Tue, 26 Nov 2024AU$211.0bAU$121.1bAU$6.6b19.8x32.1x1.7x
Thu, 24 Oct 2024AU$203.9bAU$120.2bAU$6.5b20.2x31.3x1.7x
Sat, 21 Sep 2024AU$207.6bAU$123.1bAU$6.3b19.2x33x1.7x
Mon, 19 Aug 2024AU$202.5bAU$120.6bAU$5.5b18x36.6x1.7x
Wed, 17 Jul 2024AU$194.9bAU$120.6bAU$5.4b18x36.2x1.6x
Fri, 14 Jun 2024AU$192.8bAU$120.9bAU$5.4b17.9x35.8x1.6x
Sun, 12 May 2024AU$196.1bAU$122.0bAU$5.8b18.3x33.7x1.6x
Tue, 09 Apr 2024AU$199.2bAU$122.1bAU$5.9b18.3x34x1.6x
Thu, 07 Mar 2024AU$198.1bAU$122.3bAU$5.9b17x33.6x1.6x
Sat, 03 Feb 2024AU$187.8bAU$118.2bAU$4.8b18.5x39.2x1.6x
Mon, 01 Jan 2024AU$189.0bAU$117.7bAU$4.7b18.6x40.1x1.6x
Wed, 29 Nov 2023AU$175.5bAU$118.2bAU$4.8b16.6x36.7x1.5x
Fri, 27 Oct 2023AU$168.3bAU$118.9bAU$4.9b16.8x34.5x1.4x
Sun, 24 Sep 2023AU$178.1bAU$118.5bAU$4.8b17.2x36.9x1.5x
Tue, 22 Aug 2023AU$179.9bAU$114.0bAU$3.9b17.7x45.5x1.6x
Thu, 20 Jul 2023AU$181.1bAU$111.0bAU$3.5b18.6x51.2x1.6x
Sat, 17 Jun 2023AU$178.1bAU$109.5bAU$3.5b18.4x51.5x1.6x
Mon, 15 May 2023AU$178.6bAU$110.1bAU$3.5b17.9x50.9x1.6x
Wed, 12 Apr 2023AU$174.3bAU$110.0bAU$3.5b17.9x49.8x1.6x
Fri, 10 Mar 2023AU$148.9bAU$94.0bAU$3.5b17.5x42.4x1.6x
Sun, 05 Feb 2023AU$150.6bAU$87.3bAU$3.7b19.9x40.7x1.7x
Price to Earnings Ratio

40.7x


Total Market Cap: AU$150.6bTotal Earnings: AU$3.7bTotal Revenue: AU$87.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Industrials Sector Price to Earnings3Y Average 35.5x202420252026
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 30.8x which is lower than its 3-year average PE of 35.5x.
  • 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 29% 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 Market1.54%
Industrials0.45%
Machinery6.65%
Building3.46%
Logistics1.62%
Trade Distributors1.28%
Commercial Services0.87%
Professional Services0.80%
Construction0.61%
Transportation0.36%
Infrastructure0.21%
Industrials0.095%
Electrical-0.28%
Airlines-1.14%
Aerospace & Defense-6.04%
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 60.4%, 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 60% 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
REH ReeceAU$14.826.4%
+AU$547.4m		-38.4%PE28.8x
SLX Silex SystemsAU$7.7313.8%
+AU$261.3m		30.8%PS157.1x
AZJ Aurizon HoldingsAU$3.703.9%
+AU$240.0m		13.5%PE20.9x
SGH SGHAU$47.691.2%
+AU$227.5m		-1.7%PE39.9x
WOR WorleyAU$13.162.5%
+AU$162.0m		-9.1%PE16.3x

Latest News

REH
AU$14.82
Reece
7D
6.4%
1Y
-38.4%
QAN
AU$10.15
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7D
-3.3%
1Y
8.1%

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BXB
AU$22.31
Brambles
7D
-3.0%
1Y
12.6%

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Jan 28
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SGH
AU$47.69
SGH
7D
1.2%
1Y
-1.7%
TCL
AU$13.85
Transurban Group
7D
0.3%
1Y
4.4%

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CPU
AU$33.18
Computershare
7D
-3.3%
1Y
-5.4%

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DRO
AU$3.59
DroneShield
7D
-24.1%
1Y
439.8%

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Jan 27
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ASB
AU$7.31
Austal
7D
-6.9%
1Y
96.5%

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DOW
AU$7.88
Downer EDI
7D
-2.4%
1Y
39.2%

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MAD
AU$8.00
Mader Group
7D
-7.9%
1Y
28.8%
EOS
AU$9.05
Electro Optic Systems Holdings
7D
-16.2%
1Y
621.1%
AZJ
AU$3.70
Aurizon Holdings
7D
3.9%
1Y
13.5%

AZJ: Fair Outlook Will Balance Lower Margin Assumptions And Higher Future P/E

The analyst price target for Aurizon Holdings has been increased to A$3.45 from A$3.40, with analysts citing updated assumptions for revenue growth, profit margins, the discount rate, and future P/E as the key drivers of this adjustment. Valuation Changes Fair Value: updated from A$3.40 to A$3.45, a small uplift in the modelled estimate.
ALQ
AU$24.17
ALS
7D
0.4%
1Y
49.6%

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

Analysts have nudged their price target for ALS up by A$1 to A$27, citing slightly adjusted assumptions around fair value, discount rate, revenue growth, profit margin and future P/E to reflect updated expectations. What's in the News ALS raised its fiscal 2026 guidance to target 6% to 8% organic revenue growth, up from 5% to 7%, and is aiming for steady margin improvement in FY26 (Corporate Guidance, Key Developments).
WOR
AU$13.16
Worley
7D
2.5%
1Y
-9.1%

WOR: Updated FY2026 Guidance Will Support A More Positive Outlook

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SLX
AU$7.73
Silex Systems
7D
13.8%
1Y
30.8%
ALX
AU$4.91
Atlas Arteria
7D
1.0%
1Y
-1.4%