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U.S. Industrials Sector Analysis

UpdatedJan 31, 2026
DataAggregated Company Financials
Companies1073
  • 7D-0.1%
  • 3M5.9%
  • 1Y20.1%
  • YTD4.9%

Last week, the Industrials industry hasn't moved much but GE Vernova is up 10% in that time. The past year has been better, since the industry has gained 20% 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
Sun, 01 Feb 2026US$7.1tUS$2.9tUS$213.8b25.6x33.2x2.5x
Tue, 30 Dec 2025US$6.5tUS$2.7tUS$210.3b24.6x30.9x2.4x
Thu, 27 Nov 2025US$6.3tUS$2.7tUS$209.7b24.4x30x2.3x
Sat, 25 Oct 2025US$6.4tUS$2.7tUS$211.0b25.9x30.4x2.4x
Mon, 22 Sep 2025US$6.3tUS$2.7tUS$208.5b24.8x30.3x2.3x
Wed, 20 Aug 2025US$6.2tUS$2.7tUS$209.4b24.6x29.5x2.3x
Fri, 18 Jul 2025US$6.1tUS$2.7tUS$206.0b23.9x29.7x2.3x
Sun, 15 Jun 2025US$5.8tUS$2.7tUS$205.1b22.3x28.2x2.1x
Tue, 13 May 2025US$5.5tUS$2.7tUS$206.4b22.2x26.7x2.1x
Thu, 10 Apr 2025US$4.7tUS$2.7tUS$203.5b20.3x23.3x1.8x
Sat, 08 Mar 2025US$5.4tUS$2.7tUS$204.0b21.8x26.5x2x
Mon, 03 Feb 2025US$5.8tUS$2.7tUS$202.6b24.2x28.6x2.2x
Wed, 01 Jan 2025US$5.5tUS$2.7tUS$197.9b23.5x28x2x
Fri, 29 Nov 2024US$6.1tUS$2.7tUS$197.1b24.8x30.7x2.2x
Sun, 27 Oct 2024US$5.7tUS$2.7tUS$188.5b23.4x30.1x2.1x
Tue, 24 Sep 2024US$5.5tUS$2.7tUS$179.5b22.5x30.9x2.1x
Thu, 22 Aug 2024US$5.3tUS$2.7tUS$179.2b22.4x29.6x2x
Sat, 20 Jul 2024US$5.3tUS$2.7tUS$169.9b22.4x31.3x2x
Mon, 17 Jun 2024US$5.1tUS$2.7tUS$170.1b20.9x30x1.9x
Wed, 15 May 2024US$5.3tUS$2.7tUS$171.4b23.3x30.9x2x
Fri, 12 Apr 2024US$5.3tUS$2.7tUS$173.8b23.2x30.4x2x
Sun, 10 Mar 2024US$5.2tUS$2.7tUS$172.6b23.1x30x2x
Tue, 06 Feb 2024US$4.9tUS$2.7tUS$174.8b21.4x27.9x1.8x
Thu, 04 Jan 2024US$4.8tUS$2.7tUS$182.9b20.9x26.3x1.8x
Sat, 02 Dec 2023US$4.6tUS$2.7tUS$182.5b19.9x25.2x1.7x
Mon, 30 Oct 2023US$4.2tUS$2.7tUS$183.4b16.7x22.7x1.5x
Wed, 27 Sep 2023US$4.4tUS$2.7tUS$189.4b17.7x23x1.6x
Fri, 25 Aug 2023US$4.5tUS$2.7tUS$189.3b18.6x23.9x1.7x
Sun, 23 Jul 2023US$4.7tUS$2.7tUS$188.0b18.1x24.9x1.7x
Tue, 20 Jun 2023US$4.5tUS$2.7tUS$182.7b18.5x24.7x1.7x
Thu, 18 May 2023US$4.2tUS$2.7tUS$183.8b17.2x23.1x1.6x
Sat, 15 Apr 2023US$4.3tUS$2.6tUS$167.1b18.2x25.5x1.6x
Mon, 13 Mar 2023US$4.0tUS$2.6tUS$162.5b18x24.5x1.6x
Wed, 08 Feb 2023US$4.2tUS$2.5tUS$162.2b19.2x25.8x1.6x
Price to Earnings Ratio

25.8x


Total Market Cap: US$4.2tTotal Earnings: US$162.2bTotal Revenue: US$2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 27.9x202420252026
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 33.2x which is higher than its 3-year average PE of 27.9x.
  • 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 9.8% per year over the last three years.
  • Revenues for these companies have grown 4.1% 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-0.28%
Industrials-0.12%
Infrastructure4.48%
Electrical4.11%
Building2.58%
Logistics2.11%
Machinery0.87%
Marine and Shipping0.29%
Construction0.016%
Industrials-0.60%
Transportation-0.62%
Aerospace & Defense-1.11%
Commercial Services-1.39%
Airlines-2.79%
Trade Distributors-3.55%
Professional Services-4.12%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 61.8x.
    • Analysts are expecting annual earnings growth of 19.7%, which is higher than its past year's earnings growth of 14.4% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 15.8x.
Forecasted Growth
  • Analysts are most optimistic on the Infrastructure industry, expecting annual earnings growth of 33% over the next 5 years.
  • This is better than its past earnings decline of 47% per year.
  • In contrast, the Marine and Shipping industry is expected to see its earnings grow 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$726.3710.4%
+US$17.3b		94.8%PE40.1x
CAT CaterpillarUS$657.364.9%
+US$14.4b		77.0%PE34.6x
GE General ElectricUS$306.794.4%
+US$13.6b		50.7%PE37.4x
LMT Lockheed MartinUS$634.227.3%
+US$9.2b		37.0%PE29.1x
ETN EatonUS$351.426.1%
+US$7.8b		7.7%PE34.8x

Latest News

LMT
US$634.22
Lockheed Martin
7D
7.3%
1Y
37.0%
RKLB
US$80.07
Rocket Lab
7D
-9.9%
1Y
175.6%
TT
US$420.58
Trane Technologies
7D
8.9%
1Y
15.9%
CAT
US$657.36
Caterpillar
7D
4.9%
1Y
77.0%
URI
US$782.06
United Rentals
7D
-14.9%
1Y
3.2%
JOBY
US$10.57
Joby Aviation
7D
-24.1%
1Y
28.0%
ADP
US$246.82
Automatic Data Processing
7D
-4.3%
1Y
-18.5%
GEV
US$726.37
GE Vernova
7D
10.4%
1Y
94.8%
UBER
US$80.05
Uber Technologies
7D
-2.7%
1Y
19.7%
BA
US$233.72
Boeing
7D
-7.3%
1Y
32.4%
FDX
US$322.25
FedEx
7D
5.9%
1Y
21.7%
RTX
US$200.93
RTX
7D
2.6%
1Y
55.8%

RTX: Fair Value Reset Balances Defense Policy Risks And Aerospace Demand

Analysts have raised their fair value estimate for RTX from about $197 to about $203 per share, citing updated group estimates, higher price targets from multiple firms, and ongoing strength in assumed aerospace and defense demand. Analyst Commentary Recent research on RTX clusters around higher price targets and refreshed models for the broader aerospace and defense group, with most commentary focusing on how assumed demand and capital allocation could influence the company’s valuation and execution over the next few years.
ETN
US$351.42
Eaton
7D
6.1%
1Y
7.7%

ETN: AI Data Center Demand Will Drive Future Upside

Analysts have raised their Eaton fair value estimate by about $12 to $483. The revision reflects modestly higher revenue growth and future P/E assumptions, partly offset by slightly lower profit margin expectations and a slightly higher discount rate, as well as mixed recent price target moves and differing views on data center demand and acquisition synergies.
MMM
US$153.16
3M
7D
-5.9%
1Y
0.6%

MMM: New Digital Tools And Higher P E Multiple Will Support Re Rating

Analysts have nudged their valuation view on 3M higher, with the updated fair value estimate moving from $212 to $223 as they reassess the stock's longer term earnings power and apply a slightly richer future P/E multiple, despite mixed recent price target changes across the Street. Analyst Commentary Recent Street research on 3M has been mixed, with some firms trimming targets or ratings and others lifting their valuation marks.
AXON
US$483.58
Axon Enterprise
7D
-21.1%
1Y
-25.9%

AXON: AI And Drones Will Extend Public Safety Market Reach

Axon Enterprise's analyst fair value estimate has inched lower from $822.50 to $815.00 as analysts factor in mixed Q3 orders, a slightly higher discount rate, and a blend of cautious and constructive views reflected in recent price target changes ranging from $610 to $860. Analyst Commentary Recent research highlights a split between bullish analysts focused on Axon Enterprise's longer term growth path and more cautious voices reacting to mixed Q3 orders and valuation questions.
GE
US$306.79
General Electric
7D
4.4%
1Y
50.7%

GE: Engine Contract Momentum And Higher Margins Will Support Future Returns

Narrative Update Analysts have made a modest upward adjustment to their price targets for General Electric, reflecting small refinements to assumptions on discount rate, revenue growth, profit margins, and future P/E rather than a change in the US$394 fair value estimate. Analyst Commentary Recent Street research around General Electric has centered on fine tuning price targets for GE Aerospace, with a mix of upward and downward adjustments that still point to generally constructive sentiment on the company’s execution and earnings power.