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U.S. Industrials Sector Analysis

UpdatedMar 24, 2026
DataAggregated Company Financials
Companies1033
  • 7D-1.3%
  • 3M3.5%
  • 1Y23.8%
  • YTD3.1%

Over the last 7 days, the Industrials industry has dropped 2.5%, and RTX contributed the most with a 5.5% decline. On the other hand GE Vernova is actually up 6.7%. In the past year, the industry has gained 23%. 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, 24 Mar 2026US$6.9tUS$2.9tUS$212.5b23.8x32.2x2.4x
Thu, 19 Feb 2026US$7.4tUS$2.8tUS$208.8b27.1x35.6x2.6x
Sat, 17 Jan 2026US$6.9tUS$2.7tUS$209.3b26.1x33x2.5x
Mon, 15 Dec 2025US$6.5tUS$2.7tUS$209.6b25.1x30.9x2.4x
Wed, 12 Nov 2025US$6.4tUS$2.7tUS$211.1b24.5x30.4x2.3x
Fri, 10 Oct 2025US$6.5tUS$2.7tUS$210.1b24.8x30.8x2.4x
Sun, 07 Sep 2025US$6.2tUS$2.7tUS$208.3b25x29.8x2.3x
Tue, 05 Aug 2025US$6.1tUS$2.7tUS$210.2b23.9x29x2.3x
Thu, 03 Jul 2025US$6.0tUS$2.7tUS$205.2b24.1x29.3x2.2x
Sat, 31 May 2025US$5.8tUS$2.7tUS$206.2b22.4x27.9x2.1x
Mon, 28 Apr 2025US$5.2tUS$2.7tUS$204.6b20.7x25.6x1.9x
Wed, 26 Mar 2025US$5.5tUS$2.7tUS$203.2b21.4x26.9x2x
Fri, 21 Feb 2025US$5.8tUS$2.7tUS$209.4b23.1x27.5x2.1x
Sun, 19 Jan 2025US$5.8tUS$2.7tUS$196.4b24.6x29.5x2.1x
Tue, 17 Dec 2024US$5.8tUS$2.7tUS$198.3b24.1x29.2x2.1x
Thu, 14 Nov 2024US$6.0tUS$2.7tUS$194.7b25x30.8x2.2x
Sat, 12 Oct 2024US$5.7tUS$2.7tUS$180.3b23.9x31.5x2.1x
Mon, 09 Sep 2024US$5.2tUS$2.7tUS$179.8b21.1x28.9x1.9x
Wed, 07 Aug 2024US$5.0tUS$2.7tUS$179.8b21.1x28x1.9x
Fri, 05 Jul 2024US$5.1tUS$2.7tUS$170.3b21.5x30.1x1.9x
Sun, 02 Jun 2024US$5.2tUS$2.7tUS$169.9b22.7x30.8x1.9x
Tue, 30 Apr 2024US$5.2tUS$2.7tUS$169.3b22.7x30.7x1.9x
Thu, 28 Mar 2024US$5.3tUS$2.7tUS$172.6b23.6x30.9x2x
Sat, 24 Feb 2024US$5.1tUS$2.7tUS$174.3b23.2x29.2x1.9x
Mon, 22 Jan 2024US$4.9tUS$2.7tUS$184.2b20.7x26.4x1.8x
Wed, 20 Dec 2023US$4.9tUS$2.7tUS$182.7b21.5x26.8x1.8x
Fri, 17 Nov 2023US$4.5tUS$2.7tUS$181.9b19.3x24.8x1.7x
Sun, 15 Oct 2023US$4.4tUS$2.7tUS$192.6b17.8x22.8x1.6x
Tue, 12 Sep 2023US$4.5tUS$2.7tUS$189.3b18.4x24x1.7x
Thu, 10 Aug 2023US$4.7tUS$2.7tUS$189.4b19x24.7x1.7x
Sat, 08 Jul 2023US$4.5tUS$2.7tUS$185.6b17.9x24.4x1.7x
Mon, 05 Jun 2023US$4.3tUS$2.7tUS$182.9b17.5x23.5x1.6x
Wed, 03 May 2023US$4.3tUS$2.7tUS$187.9b17.6x22.8x1.6x
Fri, 31 Mar 2023US$4.2tUS$2.6tUS$166.2b18.4x25.5x1.6x
Price to Earnings Ratio

25.5x


Total Market Cap: US$4.2tTotal Earnings: US$166.2bTotal Revenue: US$2.6tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 28.3x202420252026
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 32.2x which is higher than its 3-year average PE of 28.3x.
  • The 3-year average PS ratio of 2.0x is lower than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 8.5% per year over the last three years.
  • Revenues for these companies have grown 2.8% 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-1.74%
Industrials-1.32%
Airlines3.17%
Marine and Shipping2.84%
Professional Services1.00%
Infrastructure0.90%
Building0.63%
Electrical0.63%
Logistics0.47%
Construction0.30%
Machinery-0.16%
Transportation-0.39%
Trade Distributors-1.38%
Commercial Services-3.39%
Industrials-3.83%
Aerospace & Defense-4.51%
Industry PE
  • Investors are most optimistic about the Electrical industry even though it's trading below its 3-year average PE ratio of 63.3x.
    • Analysts expect its future annual earnings growth (19.7%) 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 16.1x.
Forecasted Growth
  • Analysts are most optimistic on the Construction industry, expecting annual earnings growth of 23% 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 3.0% 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
GEV GE VernovaUS$882.646.7%
+US$14.9b		156.9%PE48.7x
PL Planet Labs PBCUS$33.8237.5%
+US$3.1b		745.5%PS37.5x
DAL Delta Air LinesUS$65.137.1%
+US$2.8b		33.2%PE8.5x
CARR Carrier GlobalUS$58.304.4%
+US$2.0b		-14.2%PE33.5x
FDX FedExUS$355.781.0%
+US$2.0b		46.8%PE19x

Latest News

RKLB
US$68.00
Rocket Lab
7D
-13.5%
1Y
235.5%
PL
US$33.82
Planet Labs PBC
7D
37.5%
1Y
745.5%
FDX
US$355.78
FedEx
7D
1.0%
1Y
46.8%
PH
US$906.06
Parker-Hannifin
7D
1.3%
1Y
41.0%

PH: Future Upside Will Depend On Margin Expansion And Ongoing Share Repurchases

Analysts now set the Parker Hannifin price target at $1,167.86, compared with the prior $1,139.00, citing updated assumptions around revenue growth of 7.15%, a profit margin of 19.23%, a discount rate of 8.42% and a future P/E of 37.19x. What's in the News Parker-Hannifin revised earnings guidance for the fiscal year ending June 30, 2026, with reported sales growth guided to a range of 5.5% to 7.5% and organic sales growth of approximately 5% at the midpoint (Corporate guidance).
TDG
US$1,152.97
TransDigm Group
7D
-7.6%
1Y
-16.5%
NOC
US$680.00
Northrop Grumman
7D
-7.6%
1Y
37.4%
BA
US$198.41
Boeing
7D
-7.1%
1Y
9.7%

BA: Expanding Widebody And Single Aisle Orders Will Support Higher Value

Analysts are keeping Boeing's price target steady at $300, pointing to slightly revised assumptions around the discount rate, revenue growth, profit margin and future P/E that still support the same headline valuation. What's in the News Regulators in the U.S. and Europe granted initial qualification for Boeing 777-9 full flight and flight training simulators at the Boeing Training Campus in Gatwick, U.K., allowing authorities to start using them to validate and approve pilot training courseware (FAA, EASA).
LMT
US$616.25
Lockheed Martin
7D
-4.5%
1Y
41.7%
UAL
US$93.96
United Airlines Holdings
7D
4.1%
1Y
17.1%

UAL: Q1 Demand Strength And Premium Travel Resilience Will Drive Upside

The updated analyst price target for United Airlines Holdings reflects a modest trim to $135.52 from $138.60, as analysts factor in higher fuel cost assumptions and slightly lower profit margins, while still pointing to resilient demand and revenue trends. Analyst Commentary Recent research on United Airlines Holdings highlights a mix of optimism on demand and revenue trends alongside caution around fuel costs, margins, and guidance risk.
HON
US$223.01
Honeywell International
7D
-4.9%
1Y
5.3%

HON: Aerospace Spin And Resegmentation Will Support Future Repricing Potential

Honeywell International's updated analyst price targets, which now run as high as about $293, reflect modest tweaks to earnings and segment estimates, along with growing interest in the planned aerospace spin and sum of the parts valuations. Analyst Commentary Analyst sentiment around Honeywell has recently leaned constructive, with several bullish analysts adjusting price targets higher and highlighting the upcoming aerospace spin, updated segment disclosures, and cash generation as key supports for valuation.
AXON
US$507.28
Axon Enterprise
7D
3.6%
1Y
-11.4%

AXON: Sector Multiple Compression Will Confront Recurring Revenue And AI Opportunity

Axon Enterprise's updated analyst price target has been reduced by $0, with analysts citing sector wide multiple compression and current sentiment, even as they highlight solid Q4 results, stronger long term targets, recurring revenue growth and potential AI advantages in their rationale. Analyst Commentary Recent Street research around Axon reflects a mix of confidence in the business model and caution around valuation and sector sentiment.
GE
US$291.54
General Electric
7D
-4.1%
1Y
38.7%

GE: Fairly Valued On Engine Strength Automation Push And Execution Risk

Analysts have trimmed the updated fair value estimate for General Electric to about $297 from roughly $301, while still lifting Street price targets into the $378 to $425 range. They highlight GE Aerospace's competitive moat, engine business review work, and refreshed guidance as support for the revised outlook.
DAL
US$65.13
Delta Air Lines
7D
7.1%
1Y
33.2%

DAL: Premium Demand And Low Fuel Sensitivity Will Support Further Upside

Narrative Update: Delta Air Lines The analyst price target for Delta Air Lines has edged lower by a few dollars to reflect higher assumed fuel costs and slightly softer profit margin expectations, even as analysts still highlight resilient demand and relatively lower fuel sensitivity compared with peers. Analyst Commentary Recent research on Delta Air Lines clusters around a common theme, with higher assumed fuel costs pulling price targets lower, while demand and premium positioning are still seen as important supports for the equity story.
RTX
US$194.82
RTX
7D
-5.5%
1Y
44.6%

RTX: Fair Value View Balances Aerospace Demand With Defense Policy Uncertainty

Our RTX fair value estimate edges up by about $0.24 to $217.16 as analysts broadly lift price targets, highlighting product upgrades such as the PW1100G Section Plus option and updated sector views as key supports. Analyst Commentary Recent Street research on RTX is clustered around higher price targets and refreshed views on the commercial aerospace and defense group, with most commentary framing current levels in the context of product execution and sector positioning rather than short term trading calls.
CARR
US$58.30
Carrier Global
7D
4.4%
1Y
-14.2%

CARR: Data Center Cooling And AI Tools Will Support Future Upside

Carrier Global's analyst price target has inched higher to about $71.80 from roughly $71.66 as analysts factor in a slightly lower discount rate and steady assumptions for revenue growth, profit margins and future P/E. Analyst Commentary Recent research updates on Carrier Global show a mix of optimism and caution, with several firms adjusting price targets in both directions and fine tuning expectations around execution and growth.
GEV
US$882.64
GE Vernova
7D
6.7%
1Y
156.9%

GEV: Long Term Equipment Contracts Will Support Stronger Future Returns

Analysts have lifted their price target on GE Vernova to $1,019, reflecting slightly updated assumptions on discount rate, revenue growth, profit margin, and future P/E that support a steady valuation framework. What's in the News OPC Energy agreed to purchase main equipment from GE Vernova for the Hadera 2 natural gas power project in Israel, covering gas and steam turbines, auxiliary systems, and a maintenance agreement.