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Australian (ASX) Industrials Sector Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies126
  • 7D-4.2%
  • 3M-3.1%
  • 1Y8.0%
  • YTD-5.4%

Over the last 7 days, the Industrials industry has dropped 4.2%, driven by a pullback from Brambles of 3.8%. This takes the industry's 12 month performance to a gain of 8.0%. Looking forward, 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
Wed, 18 Mar 2026AU$231.3bAU$148.4bAU$8.2b18.7x28.1x1.6x
Fri, 13 Feb 2026AU$242.7bAU$143.8bAU$8.0b20.3x30.4x1.7x
Sun, 11 Jan 2026AU$245.3bAU$144.9bAU$8.1b20.7x30.2x1.7x
Tue, 09 Dec 2025AU$242.3bAU$145.1bAU$8.1b20.7x29.8x1.7x
Thu, 06 Nov 2025AU$243.3bAU$145.3bAU$8.2b20.1x29.7x1.7x
Sat, 04 Oct 2025AU$248.7bAU$146.0bAU$8.2b20x30.3x1.7x
Mon, 01 Sep 2025AU$248.4bAU$146.3bAU$8.3b19.4x30.1x1.7x
Wed, 30 Jul 2025AU$239.7bAU$144.7bAU$8.4b18.2x28.4x1.7x
Fri, 27 Jun 2025AU$238.9bAU$144.8bAU$8.4b17.1x28.3x1.7x
Sun, 25 May 2025AU$230.3bAU$144.6bAU$8.2b16.8x28.1x1.6x
Tue, 22 Apr 2025AU$217.7bAU$146.0bAU$8.3b15.8x26.2x1.5x
Thu, 20 Mar 2025AU$216.8bAU$146.3bAU$8.3b16x26x1.5x
Sat, 15 Feb 2025AU$218.8bAU$121.5bAU$7.1b20.5x30.9x1.8x
Mon, 13 Jan 2025AU$209.1bAU$121.9bAU$6.7b19x31x1.7x
Wed, 11 Dec 2024AU$209.0bAU$122.1bAU$6.7b20.4x31.4x1.7x
Fri, 08 Nov 2024AU$203.3bAU$120.1bAU$6.5b20.1x31.2x1.7x
Sun, 06 Oct 2024AU$204.7bAU$120.9bAU$6.5b19.8x31.4x1.7x
Tue, 03 Sep 2024AU$207.9bAU$122.1bAU$6.2b18.6x33.4x1.7x
Thu, 01 Aug 2024AU$202.3bAU$121.4bAU$5.5b18.6x36.9x1.7x
Sat, 29 Jun 2024AU$191.9bAU$120.9bAU$5.4b17.5x35.6x1.6x
Mon, 27 May 2024AU$185.0bAU$120.8bAU$5.1b17.8x36.5x1.5x
Wed, 24 Apr 2024AU$197.2bAU$122.3bAU$5.8b18.4x33.8x1.6x
Fri, 22 Mar 2024AU$198.2bAU$122.1bAU$5.9b18.1x33.9x1.6x
Sun, 18 Feb 2024AU$191.5bAU$118.9bAU$5.1b17.4x37.3x1.6x
Tue, 16 Jan 2024AU$187.9bAU$118.0bAU$4.8b18.2x39.5x1.6x
Thu, 14 Dec 2023AU$181.5bAU$118.3bAU$4.8b17.9x37.9x1.5x
Sat, 11 Nov 2023AU$174.7bAU$118.8bAU$4.9b16.5x35.9x1.5x
Mon, 09 Oct 2023AU$173.8bAU$118.7bAU$4.8b16.2x35.9x1.5x
Wed, 06 Sep 2023AU$183.9bAU$118.3bAU$4.7b17.3x39.4x1.6x
Fri, 04 Aug 2023AU$182.6bAU$111.6bAU$3.6b19.2x50.7x1.6x
Sun, 02 Jul 2023AU$177.8bAU$110.0bAU$3.5b18.5x51x1.6x
Tue, 30 May 2023AU$177.3bAU$110.3bAU$3.5b18.2x50.2x1.6x
Thu, 27 Apr 2023AU$178.7bAU$110.1bAU$3.5b18.2x50.9x1.6x
Sat, 25 Mar 2023AU$159.4bAU$99.6bAU$3.5b17.2x45.2x1.6x
Price to Earnings Ratio

45.2x


Total Market Cap: AU$159.4bTotal Earnings: AU$3.5bTotal Revenue: AU$99.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Industrials Sector Price to Earnings3Y Average 34.9x202420252026
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 28.1x which is lower than its 3-year average PE of 34.9x.
  • 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 32% per year over the last three years.
  • Revenues for these companies have grown 14% 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-2.69%
Industrials-4.22%
Aerospace & Defense3.48%
Industrials1.00%
Infrastructure-0.098%
Transportation-1.71%
Electrical-1.98%
Machinery-2.86%
Logistics-2.97%
Airlines-3.54%
Construction-5.15%
Trade Distributors-5.81%
Building-6.87%
Professional Services-7.42%
Commercial Services-7.69%
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 63.4%, which is lower than the prior year's growth of 240.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Aerospace & Defense industry, expecting annual earnings growth of 63% over the next 5 years.
  • However this is lower than its past earnings growth rate of 240% per year.
  • In contrast, the Transportation industry is expected to see its earnings grow by 7.8% 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$14.381.9%
+AU$842.4m		12.0%PE93.9x
DBI Dalrymple Bay InfrastructureAU$4.974.9%
+AU$114.0m		30.8%PE84.2x
RWC Reliance WorldwideAU$3.164.3%
+AU$93.1m		-32.9%PE16.7x
QAN Qantas AirwaysAU$8.600.5%
+AU$59.3m		-6.2%PE7.9x
RDX RedoxAU$3.152.6%
+AU$42.0m		12.9%PE20.5x

Latest News

EOS
AU$8.90
Electro Optic Systems Holdings
7D
-17.3%
1Y
635.5%
ALQ
AU$21.12
ALS
7D
-7.8%
1Y
34.6%

ALQ: Recent Upgrade And Stable Metrics Will Underpin Future Return Potential

Narrative Update on ALS The consensus analyst price target for ALS remains at A$28.00, with analysts pointing to steady assumptions for revenue growth, profit margins and future P/E, supported by a recent upgrade in Street research sentiment. Analyst Commentary Bullish analysts point to the A$28.00 consensus price target as a signal that the market view on ALS is anchored around steady assumptions for revenue growth, margins and future P/E, with sentiment recently supported by upgraded research.
DBI
AU$4.97
Dalrymple Bay Infrastructure
7D
4.9%
1Y
30.8%

DBI: Higher Distribution Guidance Will Support A More Attractive Future Income Profile

Analysts have nudged their price target for Dalrymple Bay Infrastructure slightly higher to A$5.51 from A$5.47, reflecting updated assumptions that combine a higher revenue growth outlook with a modestly lower profit margin and a small uplift in future P/E expectations. What's in the News Revised distribution guidance for the year from 1 July 2025 to 30 June 2026 to 26.375 cents per security, compared with prior guidance of 24.5 cents per security, described as a 7.7% uplift in the guidance (Key Developments).
WOR
AU$10.05
Worley
7D
-3.4%
1Y
-32.1%
QAN
AU$8.60
Qantas Airways
7D
0.5%
1Y
-6.2%

Qantas price should steadily increase in the long term

Qantas Airways Limited benefits from a durable competitive position as Australia’s flagship international carrier. The country’s geographic isolation and concentrated airline market create natural barriers to entry, giving Qantas a strong long-term moat in both domestic and international travel.
RDX
AU$3.15
Redox
7D
2.6%
1Y
12.9%

RDX: Future Returns Will Reflect Stable Dividend And Tightly Refined Assumptions

Analysts have trimmed their price target for Redox to A$18.86 from A$18.98, reflecting slightly updated assumptions for the discount rate, revenue growth, profit margins and future P/E, while keeping fair value broadly unchanged. 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).
REH
AU$14.08
Reece
7D
-7.4%
1Y
-11.6%
CPU
AU$28.67
Computershare
7D
-3.4%
1Y
-25.6%

CPU: Citi Upgrade And Dividend Outlook Will Support Bullish Setup

Analysts have inched their fair value estimate for Computershare to about A$35.55 per share, a small adjustment that reflects updated discount rate and future P/E assumptions, along with recent Street research support, including the new A$39.60 price target from Citi. Analyst Commentary Recent commentary from bullish analysts has become more positive, with an upgraded rating and a formal A$39.60 price target helping anchor expectations around Computershare’s potential valuation range.
SGH
AU$41.20
SGH
7D
-2.0%
1Y
-16.3%
3DA
AU$0.28
Amaero
7D
5.8%
1Y
3.8%
SRG
AU$2.37
SRG Global
7D
-12.2%
1Y
98.3%

SRG: Future Returns Will Reflect Growing Fully Franked Dividend Support

Analysts have kept their A$3.19 price target for SRG Global unchanged, citing stable fair value, only slight adjustments to the discount rate and growth assumptions, and a largely consistent forward P/E outlook. What's in the News SRG Global declared an interim fully franked dividend of A$0.03 per share for the six months ended 31 December 2025, compared with 2.5 cents per share fully franked for the prior comparable period (Key Developments).
BXB
AU$22.31
Brambles
7D
-3.8%
1Y
9.7%

BXB: Refined Assumptions And Dividend Outlook Will Support A Steady Future

Analysts have updated their view on Brambles, increasing the price target from A$24.43 to A$25.82. This change reflects adjusted assumptions around the discount rate, profit margin, revenue growth and future P/E multiples.
RWC
AU$3.16
Reliance Worldwide
7D
4.3%
1Y
-32.9%

Tariff And Copper Pressures Will Persist But Long Term Housing Demand Will Support Progress

Catalysts About Reliance Worldwide Reliance Worldwide supplies plumbing and water control products across repair and remodel, new residential construction and commercial projects in key regions including the Americas, EMEA and Asia Pacific. What are the underlying business or industry changes driving this perspective?
MGH
AU$4.89
MAAS Group Holdings
7D
2.3%
1Y
23.5%
TCL
AU$14.38
Transurban Group
7D
1.9%
1Y
12.0%
AL3
AU$0.17
AML3D
7D
21.4%
1Y
36.0%