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U.S. Machinery Industry Analysis

UpdatedAug 29, 2026
DataAggregated Company Financials
Companies189
  • 7D-2.3%
  • 3M1.6%
  • 1Y30.1%
  • YTD15.7%

Over the last 7 days, the Machinery industry has dropped 2.3%, driven by Caterpillar declining 3.3%. In contrast, AGCO has gained 6.2%. In the past year, the industry has gained 30%. 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
Sat, 29 Aug 2026US$1.5tUS$497.8bUS$47.8b26.3x31.8x3x
Mon, 27 Jul 2026US$1.6tUS$484.9bUS$45.0b28.1x35.1x3.3x
Wed, 24 Jun 2026US$1.6tUS$489.2bUS$44.8b27.7x36.6x3.4x
Fri, 22 May 2026US$1.5tUS$461.2bUS$43.7b26.4x33.2x3.1x
Sun, 19 Apr 2026US$1.5tUS$451.4bUS$43.5b27.5x34.2x3.3x
Tue, 17 Mar 2026US$1.4tUS$451.5bUS$43.3b26.3x31.4x3x
Thu, 12 Feb 2026US$1.5tUS$447.0bUS$42.8b29.8x34.8x3.3x
Sat, 10 Jan 2026US$1.3tUS$450.7bUS$43.7b26.3x30.3x2.9x
Mon, 08 Dec 2025US$1.3tUS$450.7bUS$43.7b25.5x29x2.8x
Wed, 05 Nov 2025US$1.2tUS$448.5bUS$44.7b23.5x27.2x2.7x
Fri, 03 Oct 2025US$1.2tUS$447.0bUS$44.2b24.3x26.2x2.6x
Sun, 31 Aug 2025US$1.1tUS$447.0bUS$44.2b24.1x25.6x2.5x
Tue, 29 Jul 2025US$1.1tUS$448.7bUS$44.3b23.6x25.9x2.6x
Thu, 26 Jun 2025US$1.1tUS$449.2bUS$44.6b22.8x23.9x2.4x
Sat, 24 May 2025US$1.0tUS$449.1bUS$44.6b23.1x23.3x2.3x
Mon, 21 Apr 2025US$915.8bUS$457.0bUS$48.6b19.4x18.8x2x
Wed, 19 Mar 2025US$1.0tUS$457.3bUS$47.9b21.4x21.5x2.3x
Fri, 14 Feb 2025US$1.1tUS$458.1bUS$48.0b24x22.6x2.4x
Sun, 12 Jan 2025US$1.0tUS$463.7bUS$47.7b22.9x21.5x2.2x
Tue, 10 Dec 2024US$1.1tUS$467.6bUS$47.8b25.1x23.6x2.4x
Thu, 07 Nov 2024US$1.1tUS$472.9bUS$49.2b25.3x21.8x2.3x
Sat, 05 Oct 2024US$1.1tUS$474.2bUS$49.4b21.9x21.3x2.2x
Mon, 02 Sep 2024US$1.0tUS$474.2bUS$49.3b21.5x20.5x2.1x
Wed, 31 Jul 2024US$1.0tUS$477.3bUS$51.7b22.1x19.5x2.1x
Fri, 28 Jun 2024US$957.8bUS$476.9bUS$51.6b21.4x18.6x2x
Sun, 26 May 2024US$1.0tUS$477.0bUS$51.3b22x19.7x2.1x
Tue, 23 Apr 2024US$1.0tUS$478.1bUS$48.2b22.8x21x2.1x
Thu, 21 Mar 2024US$1.0tUS$476.8bUS$48.0b23.2x21.5x2.2x
Sat, 17 Feb 2024US$985.8bUS$476.6bUS$47.4b22.9x20.8x2.1x
Mon, 15 Jan 2024US$939.8bUS$485.5bUS$47.8b22.2x19.7x1.9x
Wed, 13 Dec 2023US$907.5bUS$485.1bUS$47.8b21.6x19x1.9x
Fri, 10 Nov 2023US$835.9bUS$484.4bUS$47.1b19.6x17.7x1.7x
Sun, 08 Oct 2023US$864.3bUS$475.1bUS$44.4b19.6x19.5x1.8x
Tue, 05 Sep 2023US$935.5bUS$475.1bUS$44.5b20.8x21x2x
Price to Earnings Ratio

21x


Total Market Cap: US$935.5bTotal Earnings: US$44.5bTotal Revenue: US$475.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 24.5x202420252026
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 31.8x which is higher than its 3-year average PE of 24.5x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have grown 2.4% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

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

US Market0.25%
Industrials-2.02%
Machinery-2.27%
Industrial Machinery-1.59%
Agricultural Machinery-2.14%
Construction Machinery and Vehicles-2.97%
Industry PE
  • Investors are most optimistic about the Agricultural Machinery industry which is trading above its 3-year average PE ratio of 19.6x.
    • Analysts are expecting annual earnings growth of 18.4%, which is higher than its past year's earnings decline of 14.7% per year.
  • Investors are most pessimistic about the Construction Machinery and Vehicles industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 21.5x.
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
AGCO AGCOUS$113.396.2%
+US$460.8m		4.8%PE14.9x
LECO Lincoln Electric HoldingsUS$284.901.1%
+US$167.6m		17.4%PE28.1x
FLS FlowserveUS$80.331.2%
+US$119.5m		49.7%PE27.5x
OTIS Otis WorldwideUS$71.740.3%
+US$95.2m		-16.9%PE18x
JBTM JBT MarelUS$118.291.2%
+US$73.9m		-17.4%PE31.6x

Latest News

ITW
US$280.10
Illinois Tool Works
7D
-0.8%
1Y
5.8%
FLS
US$80.33
Flowserve
7D
1.2%
1Y
49.7%
DE
US$630.33
Deere
7D
-2.6%
1Y
31.7%
JBTM
US$118.29
JBT Marel
7D
1.2%
1Y
-17.4%
Narrative Update • Aug 25

JBTM: Integration Self Help And Recurring Revenue Will Drive Future Upside

Analysts have fine tuned their view on JBT Marel, trimming the price target from $178.75 to $172.64 as they weigh updated assumptions on profitability and valuation against ongoing integration opportunities and execution risks highlighted in recent research. Analyst Commentary Recent research on JBT Marel highlights a mix of optimism around the integration story and caution around the execution needed to support the current valuation.
RR
US$1.83
Richtech Robotics
7D
7.6%
1Y
-39.9%
AGCO
US$113.39
AGCO
7D
6.2%
1Y
4.8%
CMI
US$564.85
Cummins
7D
-3.9%
1Y
41.8%
PH
US$995.02
Parker-Hannifin
7D
-0.7%
1Y
31.0%
WNC
US$13.33
Wabash National
7D
10.9%
1Y
20.2%
CAT
US$800.25
Caterpillar
7D
-3.3%
1Y
91.0%
Narrative Update • Aug 20

CAT: Data Center Regulation Will Constrain AI Power Backlog And Future Upside

Caterpillar's analyst fair value estimate has been lifted from about $692 to about $716 as analysts factor in stronger modeled revenue growth and a slightly higher future P/E multiple, partly offset by more conservative profit margin and discount rate assumptions following recent Q2 driven target changes across the Street. Analyst Commentary Recent Street research on Caterpillar points to a mixed setup, with several firms lifting price targets after the Q2 earnings beat while a subset of bearish analysts turns more cautious on how durable current growth and margins may be.
OTIS
US$71.74
Otis Worldwide
7D
0.3%
1Y
-16.9%
Narrative Update • Aug 20

OTIS: Service Revamp And Modernization Projects Will Support Future Margin Recovery

Analysts have trimmed their fair value estimate for Otis Worldwide to about $88.83 from $94.20, reflecting a series of recent Street price target cuts into a $75 to $95 range as they factor in updated guidance, margin pressure, and increased investment in the Service business. Analyst Commentary Recent research coverage on Otis Worldwide shows a split view.
PCAR
US$125.34
PACCAR
7D
-4.3%
1Y
25.4%
Narrative Update • Aug 19

PCAR: Future Returns Will Weigh Truck Cycle Strength Against Pricing And Policy Shifts

The analyst price target for PACCAR has increased from $126.12 to $141.03 as analysts factor in updated forecasts that reflect higher truck build plans, potential improvement in truck pricing in the second half of 2026, and adjustments following the latest Q2 earnings reports. Analyst Commentary Recent research on PACCAR points to a cluster of higher price targets following the latest Q2 earnings updates and refreshed truck build assumptions.
IR
US$78.58
Ingersoll Rand
7D
-2.4%
1Y
-1.1%
Narrative Update • Aug 17

IR: Aftermarket Acquisitions And Buybacks Will Support Stronger Future Returns

Analysts have trimmed their price target on Ingersoll Rand from $115 to $109. The change reflects updated views that include a revised discount rate, revenue growth outlook, profit margin assumptions, and future P/E expectations.
WOR
US$57.32
Worthington Enterprises
7D
0.8%
1Y
-12.9%
LECO
US$284.90
Lincoln Electric Holdings
7D
1.1%
1Y
17.4%
Narrative Update • Aug 15

LECO: Automation And Reshoring Tailwinds Will Test Rich Margin Expectations

The analyst price target for Lincoln Electric Holdings has been adjusted modestly higher, reflecting a fair value move from about $238.00 to roughly $242.89. This change is supported by analysts highlighting potential benefits from an emerging industrial growth cycle, automation-driven demand, and more balanced margins after earlier tungsten price pressure.
WAB
US$292.23
Westinghouse Air Brake Technologies
7D
-1.8%
1Y
51.0%