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U.S. Machinery Industry Analysis

UpdatedJul 15, 2026
DataAggregated Company Financials
Companies191
  • 7D-0.3%
  • 3M6.0%
  • 1Y39.0%
  • YTD20.4%

Over the last 7 days, the Machinery industry has remained flat, although notably Deere declined by 3.2%. The past year has been better, since the industry has gained 39% in that time. As for the next few years, earnings are expected to grow by 17% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 15 Jul 2026US$1.6tUS$488.9bUS$44.8b26.7x35x3.2x
Fri, 12 Jun 2026US$1.5tUS$489.5bUS$44.9b26.9x33x3x
Sun, 10 May 2026US$1.5tUS$461.0bUS$43.9b27.3x34.3x3.3x
Tue, 07 Apr 2026US$1.4tUS$451.5bUS$43.6b26.2x31.6x3.1x
Thu, 05 Mar 2026US$1.5tUS$449.8bUS$43.1b28.4x33.7x3.2x
Sat, 31 Jan 2026US$1.4tUS$453.3bUS$42.9b27.6x32.2x3x
Mon, 29 Dec 2025US$1.3tUS$450.8bUS$43.7b25.6x29.1x2.8x
Wed, 26 Nov 2025US$1.2tUS$449.1bUS$43.9b24.7x27.8x2.7x
Fri, 24 Oct 2025US$1.2tUS$445.6bUS$44.6b24.7x26.4x2.6x
Sun, 21 Sep 2025US$1.2tUS$447.0bUS$44.2b24.4x26.2x2.6x
Tue, 19 Aug 2025US$1.1tUS$446.8bUS$44.2b23.9x25.3x2.5x
Thu, 17 Jul 2025US$1.1tUS$449.5bUS$44.6b23x24.8x2.5x
Sat, 14 Jun 2025US$1.1tUS$449.2bUS$44.5b23x23.7x2.3x
Mon, 12 May 2025US$993.4bUS$451.6bUS$45.3b22.1x21.9x2.2x
Wed, 09 Apr 2025US$876.8bUS$457.0bUS$48.6b17.9x18x1.9x
Fri, 07 Mar 2025US$1.0tUS$458.0bUS$47.9b21.6x21.7x2.3x
Sun, 02 Feb 2025US$1.1tUS$462.7bUS$47.6b23.5x23.4x2.4x
Tue, 31 Dec 2024US$1.1tUS$467.6bUS$47.9b22.4x22x2.2x
Thu, 28 Nov 2024US$1.2tUS$467.6bUS$47.8b25.3x24.2x2.5x
Sat, 26 Oct 2024US$1.1tUS$473.9bUS$49.0b21.3x21.6x2.2x
Mon, 23 Sep 2024US$1.0tUS$474.2bUS$49.4b21.4x20.9x2.2x
Wed, 21 Aug 2024US$983.7bUS$474.2bUS$49.0b21.2x20.1x2.1x
Fri, 19 Jul 2024US$1.0tUS$476.7bUS$51.6b21.2x19.9x2.2x
Sun, 16 Jun 2024US$957.8bUS$477.0bUS$51.3b21.7x18.7x2x
Tue, 14 May 2024US$1.0tUS$479.5bUS$51.8b21.9x19.9x2.1x
Thu, 11 Apr 2024US$1.1tUS$478.1bUS$48.1b23.7x22.2x2.2x
Sat, 09 Mar 2024US$1.0tUS$477.2bUS$47.5b24.2x21.2x2.1x
Mon, 05 Feb 2024US$993.6bUS$485.3bUS$48.3b23.1x20.6x2x
Wed, 03 Jan 2024US$962.4bUS$485.5bUS$47.8b22.4x20.1x2x
Fri, 01 Dec 2023US$880.1bUS$483.9bUS$47.8b20.5x18.4x1.8x
Sun, 29 Oct 2023US$811.5bUS$478.5bUS$45.4b18.3x17.9x1.7x
Tue, 26 Sep 2023US$873.8bUS$475.1bUS$44.4b20x19.7x1.8x
Thu, 24 Aug 2023US$904.3bUS$475.1bUS$44.5b19.9x20.3x1.9x
Sat, 22 Jul 2023US$943.6bUS$459.8bUS$40.2b20.5x23.5x2.1x
Price to Earnings Ratio

23.5x


Total Market Cap: US$943.6bTotal Earnings: US$40.2bTotal Revenue: US$459.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 24x202420252026
Current Industry PE
  • Investors are optimistic on the American Machinery industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 35.0x which is higher than its 3-year average PE of 24.0x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 3.2x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have grown 3.7% per year over the last three years.
  • Revenues for these companies have grown 2.1% 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 industry?

US Market0.22%
Industrials-0.87%
Machinery-0.34%
Industrial Machinery0.33%
Construction Machinery and Vehicles-0.29%
Agricultural Machinery-2.73%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 20.9x.
    • Analysts are expecting annual earnings growth of 17.3%, which is higher than its past year's earnings decline of 5.5% per year.
  • Investors are most pessimistic about the Agricultural Machinery industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 18.8x.
Forecasted Growth
  • Analysts are most optimistic on the Agricultural Machinery industry, expecting annual earnings growth of 18% over the next 5 years.
  • This is better than its past earnings decline of 15% per year.
  • In contrast, the Industrial Machinery industry is expected to see its earnings grow by 16% 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
CMI CumminsUS$675.542.3%
+US$2.1b		97.6%PE34.9x
ITT ITTUS$194.935.6%
+US$921.7m		25.0%PE38.1x
PH Parker-HannifinUS$964.550.7%
+US$887.6m		36.1%PE34.9x
MLI Mueller IndustriesUS$58.394.9%
+US$601.5m		38.1%PE15.2x
WAB Westinghouse Air Brake TechnologiesUS$262.021.1%
+US$480.2m		24.4%PE36.8x

Latest News

CMI
US$675.54
Cummins
7D
2.3%
1Y
97.6%
MFP
US$43.50
Midera Food Processing
7D
18.9%
1Y
n/a
CAT
US$933.34
Caterpillar
7D
-0.7%
1Y
130.7%
ITW
US$272.28
Illinois Tool Works
7D
0.4%
1Y
6.2%
Narrative Update • Jul 13

ITW: Dividend Strength And Margin Initiatives Will Support Fairly Valued Shares

The analyst price target for Illinois Tool Works has been increased by about $5, as analysts cite modest adjustments to revenue growth, profit margins, and forward P/E assumptions, supported by recent sector research highlighting healthier U.S. macro data and potential upside catalysts in select business lines. Analyst Commentary Recent Street research on Illinois Tool Works shows a mix of optimism and caution, with several firms fine tuning price targets ahead of upcoming earnings and sector data points.
SWK
US$87.37
Stanley Black & Decker
7D
-2.2%
1Y
25.2%
FSS
US$118.33
Federal Signal
7D
-6.5%
1Y
10.6%
Seeking Alpha • Jul 13

Federal Signal: How Its Shift Toward Aftermarket Services Makes It A Buy

Summary Federal Signal earns a Buy rating with a $143 target, reflecting its strategic pivot to aftermarket services and recurring revenue streams. FSS delivered robust Q1 results: 35% revenue growth, 52% operating income increase, and a 176% surge in operating cash flow, highlighting strong demand and operating leverage. Aftermarket sales now comprise 23% of ESG segment revenue, growing 18% YoY, supporting stable cash flow and higher margins versus equipment sales. Risks include chassis supply constraints and integration of recent acquisitions, but strong cash generation and successful integrations mitigate concerns. Read the full article on Seeking Alpha
WAB
US$262.02
Westinghouse Air Brake Technologies
7D
1.1%
1Y
24.4%
Seeking Alpha • Jul 13

Wabtec Is Steaming Forward, But Beware Of Shares Overheating

Summary Wabtec has delivered robust revenue, profit, and cash flow growth, driven by acquisitions and organic expansion, particularly in its Transit business. Despite a 155% share price surge since the last review, WAB now trades at a lofty valuation, making it difficult to adopt a bullish stance. Management forecasts 2026 revenue of $12.19–$12.49 billion and adjusted EPS of $1.78 billion, supported by a 10% increase in 12-month backlog. While long-term prospects remain attractive, current pricing justifies maintaining a neutral rating ahead of the upcoming Q2 2026 results. Read the full article on Seeking Alpha
DE
US$584.40
Deere
7D
-3.2%
1Y
16.1%
FTV
US$60.68
Fortive
7D
-3.0%
1Y
18.6%
ITT
US$194.93
ITT
7D
5.6%
1Y
25.0%
Narrative Update • Jul 08

ITT: Acquisition And Execution Risks Will Shape The Next Phase

The analyst price target for ITT has shifted from $157.58 to $198.83. Analysts attribute this change to updated assumptions around revenue growth, profit margins, and future P/E, which they identify as key drivers behind the revision.
OTIS
US$72.56
Otis Worldwide
7D
-1.2%
1Y
-27.0%
Narrative Update • Jul 07

OTIS: New Modernisation Push Will Drive Longer Term Upside Potential

The analyst price target for Otis Worldwide has been adjusted from $77 to $83, reflecting updated views from analysts who are weighing concerns about near term guidance against more positive opinions tied to new product traction, cross sell efforts, and perceived longer term growth potential. Analyst Commentary Recent research on Otis Worldwide highlights a split in opinion, with some firms expressing confidence in new product launches and cross sell initiatives, while bearish analysts focus on execution risks and the achievability of management guidance.
MLI
US$58.39
Mueller Industries
7D
4.9%
1Y
38.1%
Seeking Alpha • Jul 07

Mueller Industries: Use The Intermediate Price Weakness To Access This Quality Business

Summary Mueller Industries, which is in the business of supplying various copper, brass, and aluminum products mainly for the construction markets, has been underperforming its industrial peers on a YTD basis. MLI still benefits from leading market positions, consistent gross margins, a debt-free balance sheet, and a record $1.4B cash, supporting both acquisitions and shareholder returns. MLI is priced at a similar fwd P/E multiples as my last coverage, but this time around, it is staring at solid forward positive earnings growth and is cheaper than other peers. Residential construction sector softness and a price momentum drag serve as potential risks. Read the full article on Seeking Alpha
PH
US$964.55
Parker-Hannifin
7D
0.7%
1Y
36.1%
Narrative Update • Jul 06

PH: Future Upside Will Rely On Dividend Strength And Filtration Expansion

Analysts have lifted their price target for Parker-Hannifin to about $1,259 from roughly $1,168, citing updated assumptions around slightly higher revenue growth, a revised discount rate, a modestly lower profit margin, and a higher future P/E multiple. What’s in the News for Parker-Hannifin Parker-Hannifin has raised its dividend every year since 1956, reaching a streak of 70 consecutive fiscal years, according to recent coverage.
SYM
US$43.66
Symbotic
7D
5.7%
1Y
-10.1%
RBC
US$588.18
RBC Bearings
7D
-2.0%
1Y
56.6%
ESAB
US$87.17
ESAB
7D
-7.3%
1Y
-29.6%
Narrative Update • Jun 26

ESAB: Eddyfi Acquisition And Industrial Cycle Upside Will Support Higher P/E

ESAB's analyst price target has been updated from about $145.78 to $135.40 as analysts weigh slightly lower margin and P/E assumptions against a more constructive view on revenue growth and potential benefits from recent M&A and industrial cycle exposure. Analyst Commentary Recent commentary on ESAB highlights a mix of optimism around margin quality and acquisition benefits, alongside a more cautious stance on valuation and near term earnings risk tied to M&A and the industrial cycle.