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U.S. Building Industry Analysis

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies51
  • 7D-2.3%
  • 3M4.6%
  • 1Y10.0%
  • YTD2.4%

Over the last 7 days, the Building industry has dropped 2.6%, driven by pullbacks in Carrier Global and Johnson Controls International of 4.0% and 2.0%, respectively. In contrast, Tecnoglass has gained 7.5%. Over the past 12 months, the industry was up 11%. As for the next few years, earnings are expected to grow by 17% per annum.

Industry Valuation and Performance

Has the U.S. Building Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 02 Apr 2026US$377.1bUS$158.6bUS$11.8b20x32x2.4x
Sat, 28 Feb 2026US$425.2bUS$158.4bUS$12.0b23x35.5x2.7x
Mon, 26 Jan 2026US$381.1bUS$163.7bUS$11.6b21.2x33x2.3x
Wed, 24 Dec 2025US$370.5bUS$163.6bUS$11.6b19.1x32.1x2.3x
Fri, 21 Nov 2025US$351.0bUS$161.0bUS$11.1b16.7x31.7x2.2x
Sun, 19 Oct 2025US$380.6bUS$161.0bUS$12.6b20.4x30.2x2.4x
Tue, 16 Sep 2025US$391.1bUS$160.9bUS$12.5b23.5x31.2x2.4x
Thu, 14 Aug 2025US$402.5bUS$160.7bUS$12.9b23.3x31.3x2.5x
Sat, 12 Jul 2025US$407.1bUS$162.0bUS$14.0b21.6x29.1x2.5x
Mon, 09 Jun 2025US$397.0bUS$163.5bUS$14.0b21.4x28.3x2.4x
Wed, 07 May 2025US$383.7bUS$162.7bUS$13.4b19.9x28.6x2.4x
Fri, 04 Apr 2025US$363.9bUS$162.6bUS$13.4b18.6x27.2x2.2x
Sun, 02 Mar 2025US$370.4bUS$162.5bUS$13.4b20.9x27.7x2.3x
Tue, 28 Jan 2025US$411.3bUS$163.6bUS$14.3b20.8x28.7x2.5x
Thu, 26 Dec 2024US$396.5bUS$163.6bUS$14.3b21.9x27.7x2.4x
Sat, 23 Nov 2024US$429.7bUS$162.3bUS$14.3b22.1x30.1x2.6x
Mon, 21 Oct 2024US$431.7bUS$164.3bUS$16.4b24.1x26.3x2.6x
Wed, 18 Sep 2024US$403.7bUS$164.3bUS$16.4b22x24.6x2.5x
Fri, 16 Aug 2024US$371.5bUS$164.4bUS$16.4b20.6x22.6x2.3x
Sun, 14 Jul 2024US$381.1bUS$162.7bUS$14.2b21.5x26.8x2.3x
Tue, 11 Jun 2024US$366.3bUS$163.8bUS$14.3b19.8x25.5x2.2x
Thu, 09 May 2024US$374.4bUS$166.4bUS$14.5b21.5x25.9x2.3x
Sat, 06 Apr 2024US$368.8bUS$165.2bUS$14.7b23.6x25.1x2.2x
Mon, 04 Mar 2024US$361.5bUS$166.7bUS$14.8b22.9x24.4x2.2x
Wed, 31 Jan 2024US$338.5bUS$175.4bUS$15.3b19.9x22.1x1.9x
Fri, 29 Dec 2023US$335.8bUS$175.3bUS$14.8b20.6x22.7x1.9x
Sun, 26 Nov 2023US$298.0bUS$175.2bUS$15.0b17.1x19.9x1.7x
Tue, 24 Oct 2023US$249.5bUS$171.8bUS$14.8b16.5x16.9x1.5x
Thu, 21 Sep 2023US$275.1bUS$171.9bUS$14.8b17.3x18.6x1.6x
Sat, 19 Aug 2023US$278.8bUS$171.9bUS$14.8b17.1x18.8x1.6x
Mon, 17 Jul 2023US$291.0bUS$174.1bUS$15.2b16.4x19.1x1.7x
Wed, 14 Jun 2023US$266.6bUS$174.0bUS$15.2b15.5x17.5x1.5x
Fri, 12 May 2023US$248.7bUS$174.1bUS$15.2b14.6x16.4x1.4x
Sun, 09 Apr 2023US$230.7bUS$175.5bUS$16.7b13.1x13.9x1.3x
Price to Earnings Ratio

13.9x


Total Market Cap: US$230.7bTotal Earnings: US$16.7bTotal Revenue: US$175.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Building Industry Price to Earnings3Y Average 25.6x202420252026
Current Industry PE
  • Investors are optimistic on the American Building industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 30.9x which is higher than its 3-year average PE of 25.6x.
  • The industry is trading close to its 3-year average PS ratio of 2.2x.
Past Earnings Growth
  • The earnings for companies in the Building industry have declined 11% per year over the last three years,
  • Revenues have also declined 3.3% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the U.S. Industrials industry?

US Market-0.32%
Industrials-0.72%
Building-2.32%
Building Products-2.32%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TGLS TecnoglassUS$44.997.5%
+US$139.6m		-39.6%PE12.6x
GFF GriffonUS$73.261.2%
+US$41.9m		-2.3%PE76.4x
APOG Apogee EnterprisesUS$33.752.6%
+US$18.7m		-29.7%PE18.2x
NX Quanex Building ProductsUS$18.130.9%
+US$7.7m		-4.4%PS0.4x
IIIN Insteel IndustriesUS$34.160.9%
+US$5.8m		28.3%PE13.9x

Latest News

AAON
US$83.65
AAON
7D
-4.8%
1Y
1.1%

AAON: Data Center Cooling Demand Will Support Long Term Rubin Era Upside

The updated analyst work on AAON lifts the fair value estimate from $100.00 to $120.00, reflecting a higher Street price target of $118 and analyst views that long term revenue, gross profit guidance and data center cooling demand continue to support the company despite recent share volatility. Analyst Commentary Recent research shows a mix of optimism and caution around AAON, with the updated fair value estimate aligning closely with the higher Street price target of US$118.
IIIN
US$34.16
Insteel Industries
7D
0.9%
1Y
28.3%

IIIN: Share Repurchases And Steady Assumptions Will Support Stronger Future Upside

Analysts have kept their fair value estimate for Insteel Industries steady at $42.00, with only marginal tweaks to inputs such as the discount rate, long term revenue growth, profit margin, and future P/E assumptions driving this unchanged price target. What's in the News From September 28, 2025 to December 27, 2025, Insteel Industries repurchased 23,905 shares for US$0.74 million, representing 0.12% of its shares.
CARR
US$56.90
Carrier Global
7D
-4.0%
1Y
-12.5%

CARR: Data Center Cooling And AI Tools Will Drive Future Repricing

Analysts have nudged their price targets for Carrier Global slightly higher, with the updated fair value estimate moving by about $0.05 per share as they factor in modestly adjusted growth, margin and P/E assumptions following a series of recent target changes across the Street. Analyst Commentary Recent Street research on Carrier Global highlights a mix of optimism around long term execution and pockets of caution around valuation and near term assumptions.
MOD
US$222.97
Modine Manufacturing
7D
-4.3%
1Y
161.3%

MOD: Data Center Cooling Exposure Will Drive Future AI Infrastructure Upside

Analysts have lifted their price target on Modine Manufacturing to $263, pointing to the company’s position as a one stop provider of thermal solutions for data center cooling and refrigeration and their expectations for strong growth in its data center revenue and EBITDA margins. Analyst Commentary Recent research points to a constructive stance on Modine Manufacturing, with several firms adjusting targets higher and one initiating coverage at a price target of $263.
ALLE
US$144.16
Allegion
7D
-2.3%
1Y
9.1%

ALLE: Margin Strength And AI Demand Will Support 2026 Outlook

Narrative Update Allegion's analyst price target has been nudged lower to a range centered around about $178, reflecting modest reductions from prior targets of $180 to $190 as analysts factor in near term margin pressure in the Americas, partially offset by margin strength and a firmer demand outlook tied to artificial intelligence orders. Analyst Commentary Recent research has focused on Allegion's margin profile and demand outlook, with price targets clustered in the mid to high $170s.
TGLS
US$44.99
Tecnoglass
7D
7.5%
1Y
-39.6%

TGLS: Share Repurchases And Resilient Margins Will Support Future Returns

Narrative Update on Tecnoglass Analysts have trimmed their aggregate price target on Tecnoglass by $15, from $80 to $65. This reflects updated assumptions for higher aluminum costs and the stronger peso now built into 2026 forecasts, while still indicating what they view as an attractive margin profile at current levels.
LII
US$464.84
Lennox International
7D
-3.5%
1Y
-19.1%
TT
US$428.14
Trane Technologies
7D
-1.4%
1Y
23.1%
APOG
US$33.75
Apogee Enterprises
7D
2.6%
1Y
-29.7%

APOG: Future Returns Will Rely On Dividend Increases And Margin Strength

Analysts have kept their $46.00 price target for Apogee Enterprises in place, citing updated assumptions that reflect modest adjustments to the discount rate, revenue growth, profit margin, and future P/E expectations, while leaving the overall valuation unchanged. What's in the News Mark Augdahl was promoted from interim Chief Financial Officer to Chief Financial Officer, effective January 19, 2026, after serving as interim CFO since January 7, 2026, and holding multiple finance leadership roles at Apogee Enterprises since 2000 (Key Developments).
BLDR
US$80.97
Builders FirstSource
7D
-5.2%
1Y
-38.2%
NX
US$18.13
Quanex Building Products
7D
0.9%
1Y
-4.4%

NX: Higher Future Multiple And Organic Expansion Will Support Upside Potential

Analysts now set their price target for Quanex Building Products at $35, up from $30, reflecting updated assumptions for revenue growth, profit margins, the discount rate, and a future P/E of 8.17x versus the prior 6.04x. What's in the News Quanex plans to focus on organic growth while pursuing small bolt on acquisitions that fit its existing platforms and capabilities, with management highlighting an intention to maintain a flexible balance sheet to support long term objectives (company commentary).
GFF
US$73.26
Griffon
7D
1.2%
1Y
-2.3%

GFF: Building Products Refocus Will Support Future Upside Potential

Analysts have raised their blended price target for Griffon by approximately $31. This change reflects updated views on the appropriate P/E multiple and discount rate following recent target increases of $23 and $8 from the Street.
JCI
US$134.72
Johnson Controls International
7D
-2.0%
1Y
62.6%

JCI: Applied HVAC Supercycle And AI Cooling Demand Will Support Upside

Analysts have lifted their Johnson Controls International price targets, with moves such as Morgan Stanley's increase to $140 and Melius Research's $148 target reflecting updated earnings estimates and a broader view that applied HVAC demand extends well beyond data centers. Analyst Commentary Bullish analysts are leaning into a more constructive view on Johnson Controls International, pointing to recent price target changes and rating shifts as signals of growing confidence in the story.
APT
US$4.76
Alpha Pro Tech
7D
3.9%
1Y
-2.5%
ILAG
US$2.56
Intelligent Living Application Group
7D
4.5%
1Y
-36.0%