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U.S. Industrials Sector Analysis

UpdatedApr 12, 2026
DataAggregated Company Financials
Companies1039
  • 7D4.8%
  • 3M4.2%
  • 1Y40.2%
  • YTD8.6%

The Industrials industry is up 4.8% in the last week, with Caterpillar up 10%. In the same time, Automatic Data Processing was down 7.5%. This takes the industry's 12 month performance to a gain of 40%. 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, 12 Apr 2026US$7.3tUS$2.8tUS$214.2b25.6x34.1x2.6x
Tue, 10 Mar 2026US$7.2tUS$2.9tUS$213.0b25.3x33.7x2.5x
Thu, 05 Feb 2026US$7.2tUS$2.8tUS$207.8b26.2x34.7x2.5x
Sat, 03 Jan 2026US$6.4tUS$2.7tUS$210.3b24.4x30.4x2.3x
Mon, 01 Dec 2025US$6.4tUS$2.7tUS$209.8b24.4x30.4x2.3x
Wed, 29 Oct 2025US$6.5tUS$2.7tUS$210.4b26.1x30.8x2.4x
Fri, 26 Sep 2025US$6.3tUS$2.7tUS$208.5b24.2x30.1x2.3x
Sun, 24 Aug 2025US$6.3tUS$2.7tUS$209.0b24.8x30x2.3x
Tue, 22 Jul 2025US$6.2tUS$2.7tUS$206.1b23.8x29.9x2.3x
Thu, 19 Jun 2025US$5.8tUS$2.7tUS$205.1b22.5x28.2x2.1x
Sat, 17 May 2025US$5.8tUS$2.7tUS$205.8b23.1x28x2.1x
Mon, 14 Apr 2025US$5.1tUS$2.7tUS$203.5b19.9x25x1.9x
Wed, 12 Mar 2025US$5.4tUS$2.7tUS$203.0b21.1x26.4x2x
Fri, 07 Feb 2025US$5.7tUS$2.7tUS$208.2b24.3x27.6x2.1x
Sun, 05 Jan 2025US$5.6tUS$2.7tUS$197.7b23.8x28.3x2.1x
Tue, 03 Dec 2024US$6.1tUS$2.7tUS$197.2b25.1x30.8x2.2x
Thu, 31 Oct 2024US$5.7tUS$2.7tUS$189.7b23.4x30x2.1x
Sat, 28 Sep 2024US$5.6tUS$2.7tUS$179.6b23x31.3x2.1x
Mon, 26 Aug 2024US$5.4tUS$2.7tUS$179.6b22.6x30x2x
Wed, 24 Jul 2024US$5.4tUS$2.7tUS$169.9b22.9x31.5x2x
Fri, 21 Jun 2024US$5.2tUS$2.7tUS$170.5b21.2x30.4x1.9x
Sun, 19 May 2024US$5.3tUS$2.7tUS$171.4b22.7x31x2x
Tue, 16 Apr 2024US$5.2tUS$2.7tUS$173.8b22.5x30x1.9x
Thu, 14 Mar 2024US$5.2tUS$2.7tUS$172.0b23x30.2x2x
Sat, 10 Feb 2024US$5.0tUS$2.7tUS$173.3b22.5x28.7x1.9x
Mon, 08 Jan 2024US$4.8tUS$2.7tUS$182.9b20.8x26.3x1.8x
Wed, 06 Dec 2023US$4.7tUS$2.7tUS$182.5b19.7x25.8x1.7x
Fri, 03 Nov 2023US$4.3tUS$2.7tUS$180.6b17.3x23.5x1.6x
Sun, 01 Oct 2023US$4.4tUS$2.7tUS$192.2b17.9x22.9x1.6x
Tue, 29 Aug 2023US$4.6tUS$2.7tUS$189.4b18.7x24.1x1.7x
Thu, 27 Jul 2023US$4.7tUS$2.7tUS$183.3b18.4x25.6x1.7x
Sat, 24 Jun 2023US$4.4tUS$2.7tUS$184.5b17.6x24x1.7x
Mon, 22 May 2023US$4.3tUS$2.7tUS$183.9b17x23.1x1.6x
Wed, 19 Apr 2023US$4.3tUS$2.6tUS$166.9b18.2x25.7x1.6x
Price to Earnings Ratio

25.7x


Total Market Cap: US$4.3tTotal Earnings: US$166.9bTotal 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 34.2x 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 2.6x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 8.6% per year over the last three years.
  • Revenues for these companies have grown 2.2% 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 Market3.38%
Industrials4.82%
Electrical10.76%
Building8.54%
Machinery7.62%
Construction7.01%
Trade Distributors6.88%
Infrastructure5.19%
Aerospace & Defense3.21%
Airlines3.11%
Industrials2.90%
Logistics2.31%
Transportation2.06%
Marine and Shipping0.77%
Commercial Services-0.89%
Professional Services-4.67%
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 (19.8%) 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 16.3x.
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 grow by 2.3% 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
CAT CaterpillarUS$790.6610.2%
+US$34.2b		169.4%PE41.4x
GE General ElectricUS$308.359.7%
+US$28.4b		69.7%PE37.5x
GEV GE VernovaUS$991.3210.3%
+US$24.9b		208.4%PE54.6x
ETN EatonUS$403.0011.6%
+US$16.3b		45.2%PE38.3x
VRT Vertiv Holdings CoUS$295.1112.9%
+US$12.9b		323.9%PE84.7x

Latest News

ADP
US$188.79
Automatic Data Processing
7D
-7.5%
1Y
-37.0%
UBER
US$70.48
Uber Technologies
7D
-1.9%
1Y
-2.5%

Uber: Why I'm Betting Big

Apr 11
BE
US$166.70
Bloom Energy
7D
22.9%
1Y
845.0%

Bloom Energy: 115x Earnings Is Not Expensive Enough

Apr 11
CAT
US$790.66
Caterpillar
7D
10.2%
1Y
169.4%
RSG
US$214.66
Republic Services
7D
-3.8%
1Y
-12.0%

RSG: Recycling Automation And Share Repurchases Will Support Future Upside

Analysts have left their $245.46 price target on Republic Services unchanged, citing only small tweaks to assumptions around the discount rate, revenue growth, profit margin, and future P/E that do not materially alter their overall view of the stock. What's in the News Republic Services opened its upgraded 54,000 square foot Peabody Recycling Center in Massachusetts, featuring automated sorting equipment, AI powered technology, enhanced safety systems, expanded processing capacity of 35 to 40 tons per hour, and cleaner material output for end markets.
VRT
US$295.11
Vertiv Holdings Co
7D
12.9%
1Y
323.9%

Vertiv: The Hyperscaler Spending Trade

Apr 10
VRSK
US$164.28
Verisk Analytics
7D
-11.2%
1Y
-43.7%

VRSK: Proprietary Insurance Data And Margins Will Support Future AI Reassessment

Verisk Analytics' updated fair value estimate edges to $229.53, reflecting analysts' mixed price target revisions between roughly $205 and $260 as they balance recent organic growth, margin trends, AI disruption concerns, and confidence in the company's proprietary insurance data assets. Analyst Commentary Recent research updates reflect a split view on Verisk Analytics, with some firms lifting targets and ratings while others trim expectations and remain more cautious.
GE
US$308.35
General Electric
7D
9.7%
1Y
69.7%

GE Aerospace: The Market Is Missing The Multi-Decade Cash Flow Engine

Apr 09
GD
US$335.15
General Dynamics
7D
-4.0%
1Y
21.1%

GD: Sector Momentum And 2026 Defense Budget Outlook Will Drive Returns

Analysts have trimmed the General Dynamics price target by about $1 to $393.93. This reflects slightly adjusted assumptions for discount rate, revenue growth, profit margin and future P/E after a mix of recent target cuts and downgrades alongside earlier target increases and a bullish initiation.
GEV
US$991.32
GE Vernova
7D
10.3%
1Y
208.4%
ETN
US$403.00
Eaton
7D
11.6%
1Y
45.2%

ETN: AI Data Center Hopes Will Be Tested By Boyd Execution Risks

Analysts have trimmed the Eaton price target by about $6 to reflect a lower assumed future P/E multiple of roughly 26x, while also factoring in updated views on revenue growth, margins and recent research that highlights both upside potential from data center exposure and mixed sentiment around the stock. Analyst Commentary Recent research on Eaton shows a split view, with some firms lifting price targets or initiating coverage positively, while others are dialing back expectations and highlighting risks around execution, valuation and future growth assumptions.
AXON
US$345.94
Axon Enterprise
7D
-16.2%
1Y
-39.1%
NOC
US$673.73
Northrop Grumman
7D
-4.1%
1Y
26.2%
CMI
US$616.14
Cummins
7D
12.1%
1Y
115.5%
PH
US$984.23
Parker-Hannifin
7D
8.4%
1Y
74.1%

PH: Buybacks And 2026 Guidance Will Support A Constructive Long Term View

Analysts have made a small downward adjustment to the Parker Hannifin price target, trimming it by less than $1 to reflect slightly updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News Parker-Hannifin reported a buyback tranche update, repurchasing 92,199 shares, representing 0.07%, for US$75 million between October 1, 2025 and December 31, 2025, as part of the program announced on October 22, 2014 (Key Developments).
WM
US$229.45
Waste Management
7D
-2.5%
1Y
0.03%