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U.S. Industrials Sector Analysis

UpdatedJan 04, 2026
DataAggregated Company Financials
Companies1070
  • 7D0.2%
  • 3M1.1%
  • 1Y17.9%
  • YTD0%

Last week, the Industrials industry hasn't moved much but Boeing is up 5.2% in that time. The past year has been better, since the industry has gained 18% in that time. Earnings are forecast to grow by 15% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 04 Jan 2026US$6.5tUS$2.7tUS$210.3b24.4x31.1x2.4x
Tue, 02 Dec 2025US$6.4tUS$2.7tUS$209.8b24.1x30.4x2.3x
Thu, 30 Oct 2025US$6.4tUS$2.7tUS$209.9b25.4x30.7x2.4x
Sat, 27 Sep 2025US$6.2tUS$2.7tUS$208.6b24.7x29.9x2.3x
Mon, 25 Aug 2025US$6.3tUS$2.7tUS$209.0b24.9x30x2.3x
Wed, 23 Jul 2025US$6.1tUS$2.7tUS$206.2b23.8x29.7x2.3x
Fri, 20 Jun 2025US$5.8tUS$2.7tUS$205.1b22.5x28.2x2.1x
Sun, 18 May 2025US$5.8tUS$2.7tUS$205.8b23.1x28.3x2.2x
Tue, 15 Apr 2025US$5.1tUS$2.7tUS$203.4b20.1x25.1x1.9x
Thu, 13 Mar 2025US$5.3tUS$2.7tUS$204.3b20.8x25.9x2x
Sat, 08 Feb 2025US$5.8tUS$2.7tUS$208.2b24x27.7x2.1x
Mon, 06 Jan 2025US$5.6tUS$2.7tUS$197.7b23.8x28.3x2.1x
Wed, 04 Dec 2024US$6.0tUS$2.7tUS$198.2b25.1x30.5x2.2x
Fri, 01 Nov 2024US$5.6tUS$2.7tUS$193.3b23.2x29.1x2.1x
Sun, 29 Sep 2024US$5.6tUS$2.7tUS$179.6b23.1x31.4x2.1x
Tue, 27 Aug 2024US$5.4tUS$2.7tUS$179.6b22.5x30.1x2x
Thu, 25 Jul 2024US$5.3tUS$2.7tUS$168.9b22.3x31.6x2x
Sat, 22 Jun 2024US$5.2tUS$2.7tUS$170.4b21.3x30.4x1.9x
Mon, 20 May 2024US$5.3tUS$2.7tUS$171.4b22.7x31x2x
Wed, 17 Apr 2024US$5.2tUS$2.7tUS$173.6b22.2x29.8x1.9x
Fri, 15 Mar 2024US$5.2tUS$2.7tUS$171.9b22.7x30.3x2x
Sun, 11 Feb 2024US$5.0tUS$2.7tUS$173.4b22.7x28.7x1.9x
Tue, 09 Jan 2024US$4.8tUS$2.7tUS$182.9b21x26.3x1.8x
Thu, 07 Dec 2023US$4.7tUS$2.7tUS$183.0b19.6x25.5x1.7x
Sat, 04 Nov 2023US$4.4tUS$2.7tUS$180.9b17.6x24.3x1.6x
Mon, 02 Oct 2023US$4.4tUS$2.7tUS$192.2b17.9x22.9x1.6x
Wed, 30 Aug 2023US$4.6tUS$2.7tUS$189.4b19.2x24.5x1.7x
Fri, 28 Jul 2023US$4.7tUS$2.7tUS$183.2b18.4x25.7x1.7x
Sun, 25 Jun 2023US$4.4tUS$2.7tUS$184.5b17.6x24x1.7x
Tue, 23 May 2023US$4.3tUS$2.7tUS$183.0b17.2x23.3x1.6x
Thu, 20 Apr 2023US$4.3tUS$2.6tUS$168.0b18.2x25.5x1.6x
Sat, 18 Mar 2023US$3.9tUS$2.6tUS$159.0b17.6x24.5x1.5x
Mon, 13 Feb 2023US$4.2tUS$2.5tUS$160.6b19.2x25.9x1.6x
Wed, 11 Jan 2023US$4.1tUS$2.5tUS$153.1b18x26.6x1.6x
Price to Earnings Ratio

26.6x


Total Market Cap: US$4.1tTotal Earnings: US$153.1bTotal Revenue: US$2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 27.7x202420252026
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 31.1x which is higher than its 3-year average PE of 27.7x.
  • The 3-year average PS ratio of 1.9x 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 11% per year over the last three years.
  • Revenues for these companies have grown 2.9% 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-0.99%
Industrials0.20%
Electrical2.04%
Aerospace & Defense1.30%
Infrastructure1.10%
Construction1.01%
Machinery0.42%
Building0.36%
Transportation0.056%
Marine and Shipping-0.17%
Logistics-0.19%
Industrials-0.64%
Airlines-0.81%
Trade Distributors-1.26%
Commercial Services-2.16%
Professional Services-2.47%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 60.2x.
    • Analysts are expecting annual earnings growth of 21.8%, which is higher than its past year's earnings growth of 16.6% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 15.7x.
Forecasted Growth
  • Analysts are most optimistic on the Infrastructure industry, expecting annual earnings growth of 38% 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 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
BA BoeingUS$227.775.2%
+US$8.6b		34.1%PS2.1x
CAT CaterpillarUS$598.412.6%
+US$7.2b		64.5%PE30.2x
GE General ElectricUS$320.751.8%
+US$5.9b		86.5%PE42x
GEV GE VernovaUS$679.552.4%
+US$4.4b		91.9%PE108.2x
FTAI FTAI AviationUS$210.3520.8%
+US$3.7b		39.0%PE47.7x

Latest News

ADP
US$252.88
Automatic Data Processing
7D
-2.3%
1Y
-13.3%
FTAI
US$210.35
FTAI Aviation
7D
20.8%
1Y
39.0%
UBER
US$82.86
Uber Technologies
7D
2.0%
1Y
28.3%
GEV
US$679.55
GE Vernova
7D
2.4%
1Y
91.9%
FAST
US$40.44
Fastenal
7D
-2.7%
1Y
12.8%

FAST: Inflation And Slowing Sales Will Pressure Margins And Share Performance

Analysts modestly raised their fair value estimate for Fastenal by about $1.22 to approximately $33.39 per share. This reflects slightly stronger long term revenue growth expectations despite mounting concerns over decelerating sales, margin pressure from inflation, and the potential for further valuation multiple compression highlighted in recent target cuts and Underperform ratings.
PAYX
US$108.60
Paychex
7D
-4.9%
1Y
-22.2%

PAYX: AI And Suite Expansion Will Navigate Cyclical Labor Uncertainty Ahead

Analysts have modestly reduced their Paychex fair value estimate by about $6 to roughly $122 per share, reflecting tempered expectations for revenue growth and future valuation multiples, despite resilient margins and a broader solution suite. Analyst Commentary Street research on Paychex reflects a generally balanced stance, with most firms maintaining neutral or modestly cautious ratings while making incremental target price adjustments.
VRT
US$175.61
Vertiv Holdings Co
7D
4.8%
1Y
39.7%

VRT: Expanded Partnerships And Dividend Increase Will Support Continued Upside Potential

Analysts have raised their price target on Vertiv Holdings Co. from 165.00 to 230.00 per share, citing expectations for stronger revenue growth, modestly higher profit margins, and a slightly lower future price to earnings multiple despite a higher assumed discount rate. What's in the News Vertiv raised full year 2025 earnings guidance, now targeting net sales of $10.16 billion to $10.24 billion and organic net sales growth of 26% to 28%, with expected GAAP diluted EPS of $3.41 (company guidance).
CPRT
US$37.77
Copart
7D
-3.9%
1Y
-33.6%
CTAS
US$184.88
Cintas
7D
-3.3%
1Y
-0.5%

Analyst Estimates: Here's What Brokers Think Of Cintas Corporation (NASDAQ:CTAS) After Its Second-Quarter Report

Dec 22
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AXON
US$563.45
Axon Enterprise
7D
-3.5%
1Y
-6.3%

AXON Will Balance Expanding Safety Market Opportunities With Execution And Competitive Risks

Analysts have raised their price target on Axon Enterprise by roughly $60 to reflect stronger expected revenue growth and the company’s expanding addressable market, even as they temper long term margin and valuation assumptions. Analyst Commentary Recent research updates highlight a generally constructive view on Axon’s long term growth prospects, but they also surface a set of more cautious perspectives around valuation, execution, and the durability of current growth rates.
CAT
US$598.41
Caterpillar
7D
2.6%
1Y
64.5%

CAT: Power Demand Optimism Will Likely Fade And Pressure Future Returns

Analysts have lifted their Caterpillar fair value estimate by about $28 to roughly $393, citing upward revisions to revenue growth and margins, a modestly higher assumed future P E multiple, and a wave of recent price target increases and upgrades following stronger than expected Q3 results and improving Power Gen and construction demand. Analyst Commentary Recent Street research reflects a broadly constructive view on Caterpillar following its Q3 earnings beat, with multiple upgrades and sizable price target increases.
GE
US$320.75
General Electric
7D
1.8%
1Y
86.5%

GE: Defense Demand Will Support Aerospace Earnings And Shareholder Returns

Analysts have raised their price target for General Electric from approximately 340 dollars to 394 dollars, reflecting higher expected revenue growth and a modestly richer future earnings multiple, despite slightly lower projected profit margins and a marginally reduced discount rate. What's in the News The Pentagon is pressing U.S. missile suppliers, including GE Aerospace, to double or even quadruple missile output in anticipation of a potential future conflict with China, signaling sustained demand for advanced defense propulsion systems (Wall Street Journal).
WM
US$218.40
Waste Management
7D
-1.2%
1Y
8.3%
DAL
US$69.06
Delta Air Lines
7D
-2.5%
1Y
17.1%
LMT
US$497.07
Lockheed Martin
7D
2.9%
1Y
3.2%

LMT: Backlog-Fueled Defense Programs Should Drive Stronger Long-Term Cash Generation

Analysts have modestly raised their price target on Lockheed Martin to approximately $590 from about $544, citing improving top line growth supported by strong F-35, CH-53K, PAC-3 and other program orders, as well as expectations for better program execution despite lingering operational challenges and a nuanced Defense spending outlook. Analyst Commentary Bullish analysts are highlighting a more constructive outlook on Lockheed Martin ahead of upcoming quarterly results, pointing to both program momentum and a gradually improving execution picture.
BA
US$227.77
Boeing
7D
5.2%
1Y
34.1%

BA: Defense And Widebody Backlog Expansion Will Drive Future Upside

Analysts have slightly lowered their price target on Boeing by approximately $1 to around $244 per share, citing modest tweaks to long term growth, discount rate, and profitability assumptions, while still expecting solid margin improvement and a lower future earnings multiple. What's in the News Boeing received FAA approval to lift its 737 MAX monthly production cap from 38 to 42 jets, a key step in restoring output and financial stability after the 2024 MAX 9 mid air emergency and subsequent safety probe (Regulatory Authority, FAA).