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Australian (ASX) Industrials Sector Analysis

UpdatedJun 06, 2026
DataAggregated Company Financials
Companies128
  • 7D0.7%
  • 3M-0.5%
  • 1Y2.1%
  • YTD-1.7%

The Industrials industry has been flat over the last week, but DroneShield has lost 16%. Furthermore, the industry has been flat for the past year as well. Looking forward, earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 06 Jun 2026AU$240.4bAU$148.3bAU$8.2b18.8x29.3x1.6x
Mon, 04 May 2026AU$234.1bAU$148.0bAU$8.1b19.1x28.8x1.6x
Wed, 01 Apr 2026AU$226.0bAU$148.8bAU$8.3b18.4x27.3x1.5x
Fri, 27 Feb 2026AU$247.8bAU$147.7bAU$8.2b20.7x30.2x1.7x
Sun, 25 Jan 2026AU$246.7bAU$144.4bAU$8.1b20.9x30.6x1.7x
Tue, 23 Dec 2025AU$244.1bAU$145.0bAU$8.1b20.7x30x1.7x
Thu, 20 Nov 2025AU$236.9bAU$145.5bAU$8.2b19.9x28.9x1.6x
Sat, 18 Oct 2025AU$248.5bAU$146.3bAU$8.2b19.7x30.3x1.7x
Mon, 15 Sep 2025AU$244.6bAU$145.8bAU$8.2b20.3x29.9x1.7x
Wed, 13 Aug 2025AU$241.2bAU$144.8bAU$8.4b18.3x28.6x1.7x
Fri, 11 Jul 2025AU$235.1bAU$144.5bAU$8.4b17.1x27.9x1.6x
Sun, 08 Jun 2025AU$236.2bAU$144.9bAU$8.4b17x28x1.6x
Tue, 06 May 2025AU$225.6bAU$144.6bAU$8.2b16.4x27.5x1.6x
Thu, 03 Apr 2025AU$220.3bAU$146.4bAU$8.4b16.1x26.4x1.5x
Sat, 01 Mar 2025AU$227.4bAU$146.3bAU$8.4b17.6x27.1x1.6x
Mon, 27 Jan 2025AU$213.1bAU$121.4bAU$6.7b19.6x32x1.8x
Wed, 25 Dec 2024AU$208.9bAU$122.5bAU$6.7b18.7x31.1x1.7x
Fri, 22 Nov 2024AU$206.0bAU$120.6bAU$6.6b19.8x31.4x1.7x
Sun, 20 Oct 2024AU$207.0bAU$121.1bAU$6.6b19.6x31.6x1.7x
Tue, 17 Sep 2024AU$208.4bAU$122.9bAU$6.3b18.7x33.2x1.7x
Thu, 15 Aug 2024AU$198.2bAU$120.6bAU$5.5b18.1x35.9x1.6x
Sat, 13 Jul 2024AU$193.8bAU$120.5bAU$5.4b18.1x36x1.6x
Mon, 10 Jun 2024AU$195.6bAU$121.1bAU$5.4b18x36.2x1.6x
Wed, 08 May 2024AU$196.4bAU$122.0bAU$5.8b18.6x33.8x1.6x
Fri, 05 Apr 2024AU$200.0bAU$122.1bAU$5.8b18.4x34.2x1.6x
Sun, 03 Mar 2024AU$198.0bAU$122.3bAU$5.9b17.1x33.6x1.6x
Tue, 30 Jan 2024AU$186.5bAU$118.2bAU$4.8b17.8x39x1.6x
Thu, 28 Dec 2023AU$188.6bAU$117.6bAU$4.7b17.3x40x1.6x
Sat, 25 Nov 2023AU$176.1bAU$118.3bAU$4.8b17x36.8x1.5x
Mon, 23 Oct 2023AU$171.0bAU$118.9bAU$4.9b16.4x35.1x1.4x
Wed, 20 Sep 2023AU$179.5bAU$118.5bAU$4.8b16.9x37.2x1.5x
Fri, 18 Aug 2023AU$180.1bAU$113.9bAU$3.9b17.9x45.7x1.6x
Sun, 16 Jul 2023AU$181.2bAU$110.9bAU$3.5b18.8x51.4x1.6x
Tue, 13 Jun 2023AU$175.1bAU$109.8bAU$3.5b18.3x50.2x1.6x
Price to Earnings Ratio

50.2x


Total Market Cap: AU$175.1bTotal Earnings: AU$3.5bTotal Revenue: AU$109.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Industrials Sector Price to Earnings3Y Average 33.4x202420252026
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 29.3x which is lower than its 3-year average PE of 33.4x.
  • 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 33% per year over the last three years.
  • Revenues for these companies have grown 11% 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-1.23%
Industrials0.75%
Construction2.56%
Logistics2.47%
Trade Distributors1.82%
Commercial Services1.26%
Professional Services1.17%
Transportation1.16%
Infrastructure0.88%
Industrials0%0
Building-0.51%
Airlines-2.68%
Machinery-3.31%
Electrical-4.19%
Aerospace & Defense-7.52%
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 63.7%, 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 64% 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 7.4% 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
BXB BramblesAU$16.922.1%
+AU$471.0m		-26.5%PE17.6x
SRG SRG GlobalAU$3.8221.7%
+AU$426.1m		153.8%PE43.4x
TCL Transurban GroupAU$15.080.7%
+AU$312.0m		4.9%PE98.4x
TEA TasmeaAU$8.2316.7%
+AU$308.5m		167.2%PE45.2x
SGH SGHAU$41.921.7%
+AU$292.7m		-23.9%PE34.2x

Latest News

DOW
AU$7.89
Downer EDI
7D
-3.0%
1Y
28.5%
CPU
AU$34.93
Computershare
7D
1.0%
1Y
-15.0%
Narrative Update • Jun 05

CPU: Tokenized Equity Partnership And Steady Margins Will Support Balanced Outlook

Analysts have raised their price target for Computershare to A$35.53 from A$34.54, reflecting updated assumptions for the discount rate, revenue growth, profit margin and future P/E multiples. What's in the News Securitize announced an agreement with Computershare to support U.S. listed clients in issuing equity securities in tokenized form, creating a new onchain option for issuers alongside traditional listings.
SKS
AU$8.60
SKS Technologies Group
7D
-5.5%
1Y
411.9%
Narrative Update • Jun 05

SKS: Project Pipeline And Dividend Will Support Measured Long Term Returns

Analysts have increased their fair value estimate for SKS Technologies Group from A$6.47 to A$8.90, citing updated assumptions related to revenue growth, profit margins and future P/E levels. What's in the News No recent company specific news or key developments for SKS Technologies Group were identified from the provided sources.
TEA
AU$8.23
Tasmea
7D
16.7%
1Y
167.2%
SRG
AU$3.82
SRG Global
7D
21.7%
1Y
153.8%
New Narrative • Jun 04

Long Term Infrastructure And ESG Tailwinds Will Support A$4.2b Work In Hand

Catalysts About SRG Global SRG Global is a diversified infrastructure services company that provides engineering led maintenance, construction and asset lifecycle solutions across multiple sectors in Australia and New Zealand. What are the underlying business or industry changes driving this perspective?
MND
AU$30.52
Monadelphous Group
7D
-1.7%
1Y
75.1%
Narrative Update • Jun 03

MND: New Contract Wins Will Support A$37 Fair Value Confidence

Analysts have kept their A$37.00 price target for Monadelphous Group unchanged, pointing to relatively stable assumptions around discount rate, revenue growth, profit margin and future P/E as the key drivers behind this steady view. What's in the News Secured approximately A$120 million in new construction and maintenance contracts across resources and renewable energy projects, according to recent news reports.
BXB
AU$16.92
Brambles
7D
2.1%
1Y
-26.5%
Narrative Update • Jun 03

BXB: US Repair Reset And Buyback Will Shape A More Constructive Outlook

Analysts have reduced their fair value estimate for Brambles to A$21.40 from A$24.82, reflecting slightly lower assumptions for revenue growth, profit margins and future P/E multiples. At the same time, recent upgrades to Neutral and Buy highlight what they see as more reasonable and compelling valuation support after the stock's pullback.
DRO
AU$2.86
DroneShield
7D
-15.6%
1Y
85.1%
ALX
AU$5.07
Atlas Arteria
7D
2.8%
1Y
-4.7%
KLS
AU$4.20
Kelsian Group
7D
-6.7%
1Y
29.6%
QAN
AU$9.19
Qantas Airways
7D
-2.6%
1Y
-14.6%
Narrative Update • May 28

QAN: Share Price Pullback And Outperform Upgrade Will Drive Future Rebound Potential

Analysts have slightly reduced their Qantas Airways price target to A$11.03 from A$11.05, reflecting updated assumptions on discount rate, revenue growth, profit margin and future P/E. Recent Street research cites valuation support for an upgrade to Outperform following the stock's pullback.
VGN
AU$2.61
Virgin Australia Holdings
7D
-5.4%
1Y
n/a
TCL
AU$15.08
Transurban Group
7D
0.7%
1Y
4.9%
Narrative Update • May 26

TCL: Steady Traffic And Margins Will Support A Fairly Valued Outlook

Analysts have trimmed their price target for Transurban Group slightly to A$13.91 from A$13.94, reflecting modest adjustments to the discount rate, revenue growth outlook, profit margin assumptions and future P/E expectations. What's in the News Reported Average Daily Traffic (ADT) growth of 3.6% for March 2026, based on monthly traffic results.
NWH
AU$7.16
NRW Holdings
7D
-6.2%
1Y
153.9%
SGH
AU$41.92
SGH
7D
1.7%
1Y
-23.9%
Narrative Update • May 22

SGH: Long Dated Crux Cashflows Will Underpin Future Upside Repricing

Analysts have kept their fair value estimate for SGH steady at A$56.00. The latest price targets are framed around slightly adjusted discount rate, revenue growth, profit margin and future P/E assumptions, and are supported by recent bullish coverage that highlights potential long term cashflow from Crux and a more constructive view on the infrastructure outlook.
AZJ
AU$4.30
Aurizon Holdings
7D
2.6%
1Y
44.3%
Narrative Update • May 06

AZJ: Higher 90% Payout And Neutral Rating Will Shape A Balanced Outlook

Aurizon Holdings' analyst price target has been revised modestly higher to around A$3.80, with analysts pointing to the stock's reduced valuation gap following a first half beat, intact guidance and a higher 90% dividend payout ratio. Analyst Commentary Bullish Takeaways Bullish analysts highlight the first half beat as a sign that Aurizon is executing in line with or ahead of current expectations, which they see as supportive of the recent price target around A$3.80.