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U.S. Industrials Sector Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies1054
  • 7D-0.3%
  • 3M16.3%
  • 1Y32.0%
  • YTD11.7%

Over the last 7 days, the Industrials industry has remained flat, although notably RTX gained 5.1%. The past year has been better, since the industry has gained 32% in that time. As for the next few years, earnings are expected to grow by 16% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 03 Mar 2026US$7.5tUS$2.8tUS$210.9b26.3x35.5x2.6x
Thu, 29 Jan 2026US$7.1tUS$2.9tUS$214.7b25.9x33x2.5x
Sat, 27 Dec 2025US$6.5tUS$2.7tUS$210.3b24.7x31.1x2.4x
Mon, 24 Nov 2025US$6.1tUS$2.7tUS$209.8b23.7x29.3x2.2x
Wed, 22 Oct 2025US$6.4tUS$2.7tUS$210.5b25.8x30.4x2.4x
Fri, 19 Sep 2025US$6.2tUS$2.7tUS$208.5b25.1x29.8x2.3x
Sun, 17 Aug 2025US$6.2tUS$2.7tUS$209.5b24.5x29.4x2.3x
Tue, 15 Jul 2025US$6.1tUS$2.7tUS$206.3b23.9x29.6x2.3x
Thu, 12 Jun 2025US$5.8tUS$2.7tUS$205.2b22.7x28.4x2.2x
Sat, 10 May 2025US$5.5tUS$2.7tUS$206.4b21.6x26.7x2.1x
Mon, 07 Apr 2025US$4.8tUS$2.7tUS$203.3b19.1x23.7x1.8x
Wed, 05 Mar 2025US$5.5tUS$2.7tUS$204.2b21.3x26.7x2x
Fri, 31 Jan 2025US$5.8tUS$2.7tUS$199.1b24.4x28.9x2.1x
Sun, 29 Dec 2024US$5.6tUS$2.7tUS$197.9b23.7x28.2x2.1x
Tue, 26 Nov 2024US$6.0tUS$2.7tUS$197.3b25.1x30.5x2.2x
Thu, 24 Oct 2024US$5.7tUS$2.7tUS$189.5b23.5x30.3x2.1x
Sat, 21 Sep 2024US$5.6tUS$2.7tUS$179.5b22.5x31.1x2.1x
Mon, 19 Aug 2024US$5.3tUS$2.7tUS$178.7b22x29.6x2x
Wed, 17 Jul 2024US$5.3tUS$2.7tUS$169.7b23.3x31.2x2x
Fri, 14 Jun 2024US$5.2tUS$2.7tUS$170.0b21.3x30.4x1.9x
Sun, 12 May 2024US$5.3tUS$2.7tUS$171.4b23.5x31.1x2x
Tue, 09 Apr 2024US$5.3tUS$2.7tUS$173.1b23.4x30.8x2x
Thu, 07 Mar 2024US$5.1tUS$2.7tUS$172.3b23.3x29.7x1.9x
Sat, 03 Feb 2024US$5.0tUS$2.7tUS$175.3b21.6x28.5x1.8x
Mon, 01 Jan 2024US$4.9tUS$2.7tUS$183.0b21.6x27x1.8x
Wed, 29 Nov 2023US$4.6tUS$2.7tUS$182.2b19.1x25x1.7x
Fri, 27 Oct 2023US$4.2tUS$2.7tUS$182.2b16.9x23.1x1.5x
Sun, 24 Sep 2023US$4.4tUS$2.7tUS$189.4b17.9x23.2x1.6x
Tue, 22 Aug 2023US$4.5tUS$2.7tUS$188.9b18.5x24.1x1.7x
Thu, 20 Jul 2023US$4.7tUS$2.7tUS$187.8b18.5x25.1x1.8x
Sat, 17 Jun 2023US$4.5tUS$2.7tUS$182.7b18.5x24.7x1.7x
Mon, 15 May 2023US$4.2tUS$2.7tUS$184.3b17.3x22.8x1.6x
Wed, 12 Apr 2023US$4.2tUS$2.6tUS$166.5b18.3x25.3x1.6x
Fri, 10 Mar 2023US$4.1tUS$2.6tUS$162.6b18.5x25.1x1.6x
Price to Earnings Ratio

25.1x


Total Market Cap: US$4.1tTotal Earnings: US$162.6bTotal Revenue: US$2.6tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 28.2x202420252026
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 35.5x which is higher than its 3-year average PE of 28.2x.
  • The 3-year average PS ratio of 2.0x is lower than the industry's current PS ratio of 2.6x.
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 3.6% 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 Market-0.57%
Industrials-0.32%
Commercial Services2.48%
Electrical2.01%
Professional Services1.74%
Marine and Shipping1.31%
Transportation0.19%
Aerospace & Defense0.048%
Industrials-0.52%
Building-1.18%
Logistics-1.57%
Construction-1.64%
Machinery-2.03%
Trade Distributors-2.21%
Infrastructure-2.61%
Airlines-4.58%
Industry PE
  • Investors are most optimistic about the Electrical industry, which is trading close to its 3-year average PE ratio of 62.9x.
    • Analysts are expecting annual earnings growth of 19.0%, which is higher than its past year's earnings growth of 15.3% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 16.0x.
Forecasted Growth
  • Analysts are most optimistic on the Construction industry, expecting annual earnings growth of 24% 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 decline by 2.7% 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
RTX RTXUS$212.165.1%
+US$13.7b		58.5%PE42.3x
GEV GE VernovaUS$881.185.9%
+US$13.3b		178.9%PE48.6x
AXON Axon EnterpriseUS$572.0235.1%
+US$12.2b		8.8%PE368.1x
UBER Uber TechnologiesUS$75.957.4%
+US$10.8b		2.0%PE15.5x
GE General ElectricUS$345.742.0%
+US$7.1b		71.2%PE42.2x

Latest News

AVAV
US$208.32
AeroVironment
7D
-20.3%
1Y
46.1%
ETN
US$377.40
Eaton
7D
4.2%
1Y
35.5%
EME
US$735.78
EMCOR Group
7D
-8.8%
1Y
85.9%
HEI
US$329.25
HEICO
7D
-4.9%
1Y
23.8%

HEI: Acquisition Pipeline And Segment Expansion Will Drive Long Term Upside

Analysts have raised their HEICO price target from $353.00 to approximately $370.89, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E multiples. What's in the News HEICO is actively seeking acquisition opportunities, with management highlighting a healthy pipeline of potential targets currently under evaluation across both the Flight Support Group and Electronic Technologies Group (Key Developments).
NOC
US$768.02
Northrop Grumman
7D
5.9%
1Y
62.2%
WM
US$243.07
Waste Management
7D
5.4%
1Y
4.0%
DE
US$630.88
Deere
7D
-2.5%
1Y
35.4%
AXON
US$572.02
Axon Enterprise
7D
35.1%
1Y
8.8%
UBER
US$75.95
Uber Technologies
7D
7.4%
1Y
2.0%

UBER: AI And Autonomous Partnerships Will Shape Long Term Upside Potential

Analysts recently trimmed their average price target on Uber Technologies to about $104 from roughly $105, citing updated assumptions for discount rates, revenue growth, profit margins and future P/E multiples after revisiting their models and broader sector valuations. Analyst Commentary Recent research on Uber highlights a mix of optimism around execution and growth on one side, and some reservation around valuation, macro risk and competitive or regulatory questions on the other.
RTX
US$212.16
RTX
7D
5.1%
1Y
58.5%

RTX: Fair Value View Weighs Aerospace Demand Against Defense Policy Constraints

Analysts have nudged their RTX fair value estimate higher to $216.92 from $214.54, reflecting updated targets across major firms that highlight slightly stronger revenue growth assumptions, a modestly adjusted discount rate, and a similar forward P/E outlook despite a small trim to profit margin expectations. Analyst Commentary Recent research updates cluster around a series of higher price targets for RTX, which helps explain the modest lift in the consolidated fair value estimate.
GEV
US$881.18
GE Vernova
7D
5.9%
1Y
178.9%

GE Vernova (GEV): Powering the Future: Electrons at Scale: The Grid’s New Sovereign

The narrative for GE Vernova in 2026 is centered on one word: Backlog. With a total backlog of $150 billion , the company has effectively "sold out" its capacity for years to come.
MMM
US$161.46
3M
7D
-2.9%
1Y
5.2%

MMM: Digital Execution And Slightly Higher Fair Value Will Support Re Rating

The analyst price target for 3M has shifted slightly higher, with our fair value estimate moving from $223.00 to about $225.67 as analysts factor in updated growth and margin assumptions, along with mixed target revisions across major firms. Analyst Commentary Recent Street research on 3M shows a split view, with several bullish analysts lifting price targets and others trimming expectations or downgrading the stock.
CAT
US$752.32
Caterpillar
7D
-0.5%
1Y
126.6%

CAT: Data Center Power Demand Will Drive Future Multiple Repricing

Caterpillar's analyst price target has been raised from $790 to $850. Analysts cited updated assumptions for faster revenue growth, a slightly lower discount rate, and a higher future P/E multiple, partly offset by more moderate profit margin expectations.
NXT
US$103.72
Nextpower
7D
-11.3%
1Y
144.6%
URI
US$820.58
United Rentals
7D
-7.0%
1Y
32.9%

URI: Secular Project Demand Will Support Future Margin And Buyback Compounding

Our updated analyst price target for United Rentals has been reduced by about $49 to $1,300. This reflects a wave of recent Street revisions as analysts factor in slightly softer revenue growth assumptions, a modestly higher discount rate, a lower future P/E, and a small improvement in expected profit margins.
GE
US$345.74
General Electric
7D
2.0%
1Y
71.2%

GE: Fairly Valued On Automation Push And High Execution Demands

Analysts have lifted their implied fair value estimate for General Electric to about $301 from roughly $198, citing updated assumptions for revenue growth, profit margins and future P/E, along with a slightly higher discount rate. Analyst Commentary Recent Street research on General Electric has been active, with several firms adjusting their price targets on GE Aerospace.