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U.S. Industrials Sector Analysis

UpdatedApr 07, 2026
DataAggregated Company Financials
Companies1035
  • 7D5.3%
  • 3M1.2%
  • 1Y43.5%
  • YTD4.1%

Over the last 7 days, the Industrials industry has risen 5.3%, and Caterpillar contributed the most with a gain of 8.1%. In the last 12 months, the industry was up 44%. Looking forward, earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

Has the U.S. Industrials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 07 Apr 2026US$7.0tUS$2.8tUS$215.7b24.2x32.3x2.5x
Thu, 05 Mar 2026US$7.4tUS$2.9tUS$211.3b26.1x35.1x2.6x
Sat, 31 Jan 2026US$7.1tUS$2.9tUS$213.8b25.6x33.2x2.5x
Mon, 29 Dec 2025US$6.5tUS$2.7tUS$210.3b24.7x31x2.4x
Wed, 26 Nov 2025US$6.2tUS$2.7tUS$209.9b24.3x29.6x2.3x
Fri, 24 Oct 2025US$6.3tUS$2.7tUS$210.7b25.8x30.1x2.3x
Sun, 21 Sep 2025US$6.3tUS$2.7tUS$208.5b24.8x30.3x2.3x
Tue, 19 Aug 2025US$6.2tUS$2.7tUS$209.4b24.9x29.4x2.3x
Thu, 17 Jul 2025US$6.1tUS$2.7tUS$206.3b23.7x29.5x2.3x
Sat, 14 Jun 2025US$5.8tUS$2.7tUS$205.1b22.3x28.4x2.2x
Mon, 12 May 2025US$5.5tUS$2.7tUS$206.4b21.6x26.7x2x
Wed, 09 Apr 2025US$4.8tUS$2.7tUS$203.3b18.5x23.5x1.8x
Fri, 07 Mar 2025US$5.5tUS$2.7tUS$204.0b21.3x26.8x2x
Sun, 02 Feb 2025US$5.8tUS$2.7tUS$202.4b24.2x28.6x2.2x
Tue, 31 Dec 2024US$5.6tUS$2.7tUS$197.9b23.5x28.2x2.1x
Thu, 28 Nov 2024US$6.1tUS$2.7tUS$197.0b24.8x30.9x2.2x
Sat, 26 Oct 2024US$5.7tUS$2.7tUS$188.5b23.4x30.2x2.1x
Mon, 23 Sep 2024US$5.5tUS$2.7tUS$179.5b22.5x30.9x2.1x
Wed, 21 Aug 2024US$5.3tUS$2.7tUS$179.3b22x29.7x2x
Fri, 19 Jul 2024US$5.4tUS$2.7tUS$169.9b22.6x31.5x2x
Sun, 16 Jun 2024US$5.1tUS$2.7tUS$170.1b20.9x30x1.9x
Tue, 14 May 2024US$5.3tUS$2.7tUS$171.4b23.1x30.9x2x
Thu, 11 Apr 2024US$5.3tUS$2.7tUS$173.5b22.8x30.7x2x
Sat, 09 Mar 2024US$5.2tUS$2.7tUS$172.6b23.1x30x1.9x
Mon, 05 Feb 2024US$5.0tUS$2.7tUS$175.3b21.6x28.5x1.8x
Wed, 03 Jan 2024US$4.9tUS$2.7tUS$182.9b21.4x26.8x1.8x
Fri, 01 Dec 2023US$4.6tUS$2.7tUS$182.5b19.2x25x1.7x
Sun, 29 Oct 2023US$4.2tUS$2.7tUS$182.7b16.8x22.8x1.5x
Tue, 26 Sep 2023US$4.4tUS$2.7tUS$189.4b17.9x23.3x1.6x
Thu, 24 Aug 2023US$4.6tUS$2.7tUS$189.3b18.8x24.2x1.7x
Sat, 22 Jul 2023US$4.7tUS$2.7tUS$188.0b18.1x24.9x1.7x
Mon, 19 Jun 2023US$4.5tUS$2.7tUS$182.7b18.5x24.7x1.7x
Wed, 17 May 2023US$4.2tUS$2.7tUS$183.9b17.2x22.7x1.6x
Fri, 14 Apr 2023US$4.3tUS$2.6tUS$166.5b18.5x25.5x1.6x
Price to Earnings Ratio

25.5x


Total Market Cap: US$4.3tTotal Earnings: US$166.5bTotal Revenue: US$2.6tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 28.4x202420252026
Current Industry PE
  • Investors are optimistic on the American Industrials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 32.3x which is higher than its 3-year average PE of 28.4x.
  • The 3-year average PS ratio of 2.0x is lower than the industry's current PS ratio of 2.5x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 9.0% per year over the last three years.
  • Revenues for these companies have grown 2.3% 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 U.S. Industrials sector?

US Market4.40%
Industrials5.30%
Electrical7.55%
Aerospace & Defense7.10%
Construction6.92%
Infrastructure6.56%
Airlines6.33%
Machinery5.41%
Marine and Shipping5.20%
Building4.25%
Trade Distributors4.10%
Transportation3.91%
Logistics3.70%
Professional Services2.56%
Commercial Services2.01%
Industrials1.87%
Industry PE
  • Investors are most optimistic about the Electrical industry, which is trading close to its 3-year average PE ratio of 63.5x.
    • Analysts expect its future annual earnings growth (19.5%) to be largely in line with prior year's earnings growth.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 16.2x.
Forecasted Growth
  • Analysts are most optimistic on the Construction industry, expecting annual earnings growth of 22% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Marine and Shipping industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
CAT CaterpillarUS$721.248.1%
+US$25.0b		157.5%PE37.8x
GEV GE VernovaUS$897.369.8%
+US$21.6b		213.7%PE49.5x
BA BoeingUS$212.3012.2%
+US$18.1b		52.9%PE88.3x
GE General ElectricUS$288.695.7%
+US$16.1b		72.1%PE35.1x
RTX RTXUS$198.416.0%
+US$15.2b		69.1%PE39.7x

Latest News

TE
US$4.05
T1 Energy
7D
-27.9%
1Y
289.4%
VRSK
US$184.71
Verisk Analytics
7D
-1.4%
1Y
-33.6%
GEV
US$897.36
GE Vernova
7D
9.8%
1Y
213.7%

GEV: Long Term Contracts And Index Inclusion Will Support Stronger Future Returns

Analysts have adjusted their price target on GE Vernova to $1,100 from $1,019, citing updated assumptions for revenue growth, profit margins, a lower discount rate, and a revised future P/E of 28.02x versus 31.71x previously. What's in the News GE Vernova is being added to the S&P 100 index, which can influence how index funds and large benchmarks gain exposure to the stock (Index Constituent Adds).
SUNB
US$63.26
Sunbelt Rentals Holdings
7D
-1.3%
1Y
33.7%

Mega Project Demand And Specialty Expansion Will Support A Fairly Valued Equipment Renter

Catalysts About Sunbelt Rentals Holdings Sunbelt Rentals Holdings provides equipment rental solutions across general tools and specialty lines for construction and nonconstruction customers in North America and the U.K. What are the underlying business or industry changes driving this perspective? Although mega projects in data centers, health care, infrastructure, energy and manufacturing are supporting equipment demand, the long and gradual build and run down phases on these large sites can tie up fleet for extended periods and limit flexibility.
CAT
US$721.24
Caterpillar
7D
8.1%
1Y
157.5%

Caterpillar: The Hidden AI Infrastructure Play Wall Street Is Finally Pricing In And It's Not Too Late

Apr 04
VRT
US$258.73
Vertiv Holdings Co
7D
10.5%
1Y
305.4%

VRT: AI Data Center Manufacturing Expansion Will Drive Further Upside

Analysts have raised their price target on Vertiv Holdings Co. to $325 from $320. They cited updates to their models that reflect revised assumptions for revenue growth, profit margins, discount rate, and future P/E.
LECO
US$238.05
Lincoln Electric Holdings
7D
-2.5%
1Y
41.1%
RSG
US$220.86
Republic Services
7D
-0.4%
1Y
-4.4%
AXON
US$413.07
Axon Enterprise
7D
-2.7%
1Y
-18.0%
BA
US$212.30
Boeing
7D
12.2%
1Y
52.9%

BA: Widebody Orders And Defense Will Support Future Upside Potential

Analysts now place Boeing's price target near $271, up from about $247. This reflects updated views on fair value, a slightly higher discount rate, modestly lower revenue growth assumptions, a small uplift in profit margin, and a higher future P/E.
LMT
US$637.90
Lockheed Martin
7D
6.6%
1Y
48.1%
RTX
US$198.41
RTX
7D
6.0%
1Y
69.1%
GE
US$288.69
General Electric
7D
5.7%
1Y
72.1%

GE: Engine Franchise And Long Cycle Services Will Support Future Returns

Analysts have inched their price expectations for General Electric higher, with the updated fair value estimate moving from $424.14 to $425.00 as they factor in refreshed views on earnings power, profit margins, and long term engine business fundamentals reflected in recent Street research on GE Aerospace. Analyst Commentary Recent Street research on GE Aerospace has leaned positive, with several bullish analysts updating price targets and ratings as they reassess the engine franchise, earnings power, and long term guidance framework.
NXT
US$108.06
Nextpower
7D
-4.0%
1Y
185.1%

NXT: Elevated P/E And Buybacks Will Continue To Outrun Fundamental Earnings Power

Analysts have raised their price target on Nextpower from $79.83 to $88.63, citing updated assumptions that include slightly adjusted discount rates, a change in revenue growth expectations to 7.55%, a profit margin assumption of 14.24%, and a forward P/E of about 28x. What's in the News Nextpower entered a multi year supply agreement with Jinko Solar (U.S.) Industries for more than 1 GW of U.S. manufactured steel module frames, scalable to up to 3 GW over three years.
PAYX
US$91.85
Paychex
7D
-1.4%
1Y
-34.6%

AI Rollout And PEO Demand Will Support Steady Outlook Despite Integration Risks

Catalysts About Paychex Paychex provides HR, payroll, benefits and PEO solutions to businesses of various sizes, with a large small business client base. What are the underlying business or industry changes driving this perspective?
ETN
US$363.89
Eaton
7D
5.9%
1Y
44.1%

ETN: AI Data Center And Thermal Demand Will Drive Future Upside

Analysts have nudged Eaton's fair value estimate higher, with the updated price target moving from $483.16 to $491.40 as they factor in the Boyd Thermal acquisition, changes to P/E assumptions, and a refreshed view on revenue growth and profitability. Analyst Commentary Recent research updates show a mix of views on Eaton, with some firms trimming price targets and others lifting them or upgrading ratings following the Boyd Thermal acquisition and model refreshes.