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U.S. Electrical Industry Analysis

UpdatedJul 04, 2026
DataAggregated Company Financials
Companies134
  • 7D0.4%
  • 3M20.9%
  • 1Y62.3%
  • YTD39.3%

Last week, the Electrical industry hasn't moved much but GE Vernova is up 6.5% in that time. As for the the longer term, the industry is up 62% over the past 12 months. As for the next few years, earnings are expected to grow by 18% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Jul 2026US$1.0tUS$171.8bUS$20.1b38.5x51.4x6x
Tue, 02 Jun 2026US$1.0tUS$172.3bUS$19.9b40.1x51.8x6x
Thu, 30 Apr 2026US$1.0tUS$169.9bUS$19.7b34.6x51.4x6x
Sat, 28 Mar 2026US$832.1bUS$167.2bUS$15.0b31.5x55.6x5x
Mon, 23 Feb 2026US$863.2bUS$166.5bUS$11.3b35.5x76.4x5.2x
Wed, 21 Jan 2026US$757.7bUS$162.0bUS$7.4b32.4x101.8x4.7x
Fri, 19 Dec 2025US$662.9bUS$161.8bUS$7.4b31.2x89.3x4.1x
Sun, 16 Nov 2025US$686.5bUS$162.0bUS$7.5b28.4x91.1x4.2x
Tue, 14 Oct 2025US$695.8bUS$157.3bUS$7.3b28.8x95x4.4x
Thu, 11 Sep 2025US$656.7bUS$157.1bUS$7.3b30.1x89.5x4.2x
Sat, 09 Aug 2025US$658.5bUS$156.7bUS$7.4b30.6x88.7x4.2x
Mon, 07 Jul 2025US$620.7bUS$153.6bUS$7.4b28.5x83.8x4x
Wed, 04 Jun 2025US$549.1bUS$153.4bUS$7.4b26.1x74.6x3.6x
Fri, 02 May 2025US$468.1bUS$153.0bUS$7.2b21.9x64.8x3.1x
Sun, 30 Mar 2025US$443.7bUS$151.5bUS$6.6b22.9x67.4x2.9x
Tue, 25 Feb 2025US$500.3bUS$151.4bUS$9.9b24.4x50.7x3.3x
Thu, 23 Jan 2025US$586.1bUS$151.1bUS$9.2b24.1x63.6x3.9x
Sat, 21 Dec 2024US$527.2bUS$151.1bUS$9.3b22.5x56.9x3.5x
Mon, 18 Nov 2024US$552.1bUS$150.5bUS$9.2b23.3x59.9x3.7x
Wed, 16 Oct 2024US$502.1bUS$151.2bUS$7.5b19.7x66.8x3.3x
Fri, 13 Sep 2024US$440.4bUS$151.3bUS$7.3b17.8x60.1x2.9x
Sun, 11 Aug 2024US$427.8bUS$150.9bUS$7.1b18.1x60.1x2.8x
Tue, 09 Jul 2024US$465.5bUS$157.0bUS$5.8b19x79.6x3x
Thu, 06 Jun 2024US$472.7bUS$159.6bUS$6.2b19.6x76.4x3x
Sat, 04 May 2024US$464.7bUS$160.5bUS$7.7b20.8x60.3x2.9x
Mon, 01 Apr 2024US$452.6bUS$125.8bUS$7.9b22.2x57.4x3.6x
Wed, 28 Feb 2024US$419.2bUS$127.9bUS$9.4b19.6x44.7x3.3x
Fri, 26 Jan 2024US$393.0bUS$139.2bUS$8.0b19.4x49.4x2.8x
Sun, 24 Dec 2023US$403.5bUS$139.3bUS$7.9b20.3x50.9x2.9x
Tue, 21 Nov 2023US$367.2bUS$139.0bUS$8.0b18.7x46.1x2.6x
Thu, 19 Oct 2023US$356.3bUS$144.1bUS$11.5b17.8x31x2.5x
Sat, 16 Sep 2023US$389.0bUS$144.2bUS$11.6b20.5x33.6x2.7x
Mon, 14 Aug 2023US$394.3bUS$144.8bUS$12.0b19.4x33x2.7x
Wed, 12 Jul 2023US$365.1bUS$130.9bUS$7.8b26.2x46.8x2.8x
Price to Earnings Ratio

46.8x


Total Market Cap: US$365.1bTotal Earnings: US$7.8bTotal Revenue: US$130.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Electrical Industry Price to Earnings3Y Average 64.5x202420252026
Current Industry PE
  • Investors are pessimistic on the American Electrical industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 51.4x which is lower than its 3-year average PE of 64.5x.
  • The 3-year average PS ratio of 3.7x is lower than the industry's current PS ratio of 6.0x.
Past Earnings Growth
  • The earnings for companies in the Electrical industry have grown 37% per year over the last three years.
  • Revenues for these companies have grown 9.5% 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 industry?

US Market1.63%
Industrials-0.14%
Electrical0.42%
Heavy Electrical Equipment5.27%
Electrical Components-2.48%
Industry PE
  • Investors are most optimistic about the Electrical Components industry, which is trading close to its 3-year average PE ratio of 55.2x.
    • Analysts expect its future annual earnings growth (18.9%) to be largely in line with prior year's earnings growth.
  • Investors are most pessimistic about the Heavy Electrical Equipment industry, which is trading below its 3-year average of 79.8x.
Forecasted Growth
  • Analysts are most optimistic on the Electrical Components industry, expecting annual earnings growth of 19% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Heavy Electrical Equipment industry is expected to see its earnings grow by 17% 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$1.11k6.5%
+US$18.3b		115.3%PE31.9x
BE Bloom EnergyUS$270.897.5%
+US$5.4b		1,017.5%PE12771.9x
NXT NextpowerUS$112.845.5%
+US$885.1m		70.2%PE28.9x
FCEL FuelCell EnergyUS$28.1117.1%
+US$277.9m		411.1%PS11.3x
SHLS Shoals Technologies GroupUS$9.9510.6%
+US$159.4m		66.4%PE49.7x

Latest News

FPS
US$46.86
Forgent Power Solutions
7D
-15.0%
1Y
n/a
GEV
US$1,113.11
GE Vernova
7D
6.5%
1Y
115.3%
GNRC
US$252.66
Generac Holdings
7D
-9.3%
1Y
65.8%
VRT
US$300.53
Vertiv Holdings Co
7D
-1.1%
1Y
135.1%
BE
US$270.89
Bloom Energy
7D
7.5%
1Y
1,017.5%
Narrative Update • Jul 02

BE: AI Data Center Backlog Will Keep P/E Excessively Elevated

Analysts have revised their fair value estimate for Bloom Energy to $122.81 from $66.98, reflecting updated assumptions around revenue growth, profit margins, and the future P/E multiple applied to the stock. What's in the News Bloom Energy stock saw sharp moves around the latest Federal Energy Regulatory Commission ruling, which is set to fast track grid connections for large data center customers and aligns closely with the company’s onsite solid oxide fuel cell offering.
SHLS
US$9.95
Shoals Technologies Group
7D
10.6%
1Y
66.4%
NXT
US$112.84
Nextpower
7D
5.5%
1Y
70.2%
Narrative Update • Jul 02

NXT: Elevated P/E Will Persist As Storage Deals Outrun Earnings Power

Analysts have lifted their price target for Nextpower from about $89.95 to roughly $105.05, citing updated assumptions for revenue growth, profit margins and future P/E that feed into a higher fair value estimate despite a slightly higher discount rate. What’s in the News for Nextpower Nextpower agreed to acquire Prevalon Energy, a U.S. battery energy storage systems provider, to extend its business into energy storage, energy management software, and critical power infrastructure, with Prevalon contributing over 6 GWh of deployed storage and 1.3 GW of firm supply contracts supporting AI and hyperscaler data centers (source: company announcement).
VICR
US$282.95
Vicor
7D
-13.5%
1Y
511.5%
PLUG
US$2.64
Plug Power
7D
3.9%
1Y
79.6%
Narrative Update • Jul 01

PLUG: Project Quantum Leap And 2026 EBITDAS Goal Will Drive Repricing

Analysts have raised Plug Power price targets by roughly $1 across several firms, which has helped lift the updated fair value estimate to $6.83 as they factor in recent model revisions tied to cost reduction efforts and a different profit outlook. Analyst Commentary Recent research updates on Plug Power point to a cluster of higher price targets, even where overall ratings remain cautious.
FCEL
US$28.11
FuelCell Energy
7D
17.1%
1Y
411.1%
Seeking Alpha • Jul 01

FuelCell Energy: Data-Center Power Makes The Risk Worth Taking

Summary I recommend a buy rating for FuelCell Energy (FCEL) due to its emerging data-center power demand and standardized product offering. FCEL’s 12.5 MW standardized Energy Block targets rapid, repeatable deployments, with a proposal pipeline exceeding 5 GW—90% tied to data centers. The Fit Energy agreement secures an initial 30 MW tranche, validating FCEL’s data-center strategy and supporting a 380 MW framework. FCEL’s Torrington facility expansion to 500 MW annual capacity underpins the revenue ramp thesis, though execution and order conversion risks remain. Read the full article on Seeking Alpha
NVT
US$152.15
nVent Electric
7D
-6.6%
1Y
103.1%
Narrative Update • Jun 30

NVT: AI Data Center Hype And Rich P/E Will Pressure Returns

Analysts have raised their fair value estimate for nVent Electric from $116.20 to $145.21, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E that support a higher price target range. What’s in the News for nVent Electric nVent Electric reports record sales, orders, and backlog tied to demand for AI data center infrastructure, particularly liquid cooling solutions, according to recent coverage.
HUBB
US$487.10
Hubbell
7D
-5.8%
1Y
17.4%
ETN
US$398.52
Eaton
7D
-1.0%
1Y
10.0%
Narrative Update • Jun 26

ETN: AI Data Center Story Will Face Mobility Deal Execution Risks

Analysts have lifted their blended price target for Eaton to about $346 from roughly $329, reflecting updated views on its earnings power, margin profile and valuation multiples following a series of recent research revisions. Analyst Commentary Recent research updates on Eaton highlight a mix of optimism on the earnings and margin story alongside a more restrained tone from some corners of the Street.
EMR
US$139.05
Emerson Electric
7D
-3.1%
1Y
-0.5%
Narrative Update • Jun 22

EMR: Long Term Energy Projects And Industrial AI Partnerships Will Shape Returns

Emerson Electric's analyst price target has been nudged slightly lower by less than $1 as analysts balance mixed ratings and revised targets, while also noting that the company has exposure to long-term demand trends and limited software risk from AI. Analyst Commentary Recent research on Emerson Electric highlights a mix of enthusiasm about its exposure to long-term demand trends and caution around execution risks and valuation, which helps explain the small adjustment in the overall analyst price target picture.
EROC
US$15.47
ERock
7D
12.4%
1Y
n/a
ADSE
US$12.45
ADS-TEC Energy
7D
8.3%
1Y
1.6%