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U.S. Machinery Industry Analysis

UpdatedFeb 01, 2026
DataAggregated Company Financials
Companies192
  • 7D0.9%
  • 3M12.0%
  • 1Y24.2%
  • YTD7.2%

Last week, the Machinery industry hasn't moved much but Caterpillar is up 4.9% in that time. As for the the longer term, the industry is up 24% over the past 12 months. Looking forward, earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 01 Feb 2026US$1.4tUS$453.3bUS$42.9b27.6x31.9x3x
Tue, 30 Dec 2025US$1.3tUS$450.8bUS$43.7b25.5x29.1x2.8x
Thu, 27 Nov 2025US$1.3tUS$450.8bUS$43.7b24.8x28.7x2.8x
Sat, 25 Oct 2025US$1.2tUS$445.7bUS$44.6b24.6x26.9x2.7x
Mon, 22 Sep 2025US$1.2tUS$447.0bUS$44.2b24.4x26.2x2.6x
Wed, 20 Aug 2025US$1.1tUS$446.8bUS$44.2b24.2x25.4x2.5x
Fri, 18 Jul 2025US$1.1tUS$449.5bUS$44.6b23.5x25x2.5x
Sun, 15 Jun 2025US$1.0tUS$449.2bUS$44.5b23x23.3x2.3x
Tue, 13 May 2025US$1.0tUS$451.6bUS$45.3b23x22.2x2.2x
Thu, 10 Apr 2025US$859.7bUS$457.0bUS$48.6b19.7x17.7x1.9x
Sat, 08 Mar 2025US$1.0tUS$458.0bUS$47.8b22.1x21.8x2.3x
Mon, 03 Feb 2025US$1.1tUS$463.9bUS$47.8b23.6x23.3x2.4x
Wed, 01 Jan 2025US$1.0tUS$467.6bUS$47.9b22.4x21.8x2.2x
Fri, 29 Nov 2024US$1.1tUS$467.6bUS$47.8b25.3x24x2.4x
Sun, 27 Oct 2024US$1.1tUS$473.9bUS$49.0b21.3x21.5x2.2x
Tue, 24 Sep 2024US$1.0tUS$474.2bUS$49.4b21.4x20.9x2.2x
Thu, 22 Aug 2024US$977.6bUS$474.2bUS$49.1b21.4x19.9x2.1x
Sat, 20 Jul 2024US$1.0tUS$476.7bUS$51.7b20.9x19.7x2.1x
Mon, 17 Jun 2024US$957.8bUS$477.0bUS$51.3b21.7x18.7x2x
Wed, 15 May 2024US$1.0tUS$479.5bUS$51.8b22.2x19.9x2.1x
Fri, 12 Apr 2024US$1.1tUS$478.1bUS$48.1b23.7x22x2.2x
Sun, 10 Mar 2024US$1.0tUS$477.2bUS$47.5b24.2x21.3x2.1x
Tue, 06 Feb 2024US$973.2bUS$475.1bUS$49.1b21.9x19.8x2x
Thu, 04 Jan 2024US$941.0bUS$485.5bUS$47.8b22x19.7x1.9x
Sat, 02 Dec 2023US$884.7bUS$483.9bUS$47.8b20.8x18.5x1.8x
Mon, 30 Oct 2023US$810.5bUS$478.5bUS$45.4b18.2x17.9x1.7x
Wed, 27 Sep 2023US$859.7bUS$475.1bUS$44.4b19.8x19.4x1.8x
Fri, 25 Aug 2023US$893.5bUS$475.1bUS$44.5b19.8x20.1x1.9x
Sun, 23 Jul 2023US$942.6bUS$459.8bUS$40.2b20.5x23.4x2x
Tue, 20 Jun 2023US$896.1bUS$460.9bUS$40.5b20.1x22.2x1.9x
Thu, 18 May 2023US$806.0bUS$456.7bUS$39.6b18.4x20.3x1.8x
Sat, 15 Apr 2023US$820.2bUS$444.6bUS$38.3b20x21.4x1.8x
Mon, 13 Mar 2023US$825.3bUS$443.0bUS$38.0b22x21.7x1.9x
Wed, 08 Feb 2023US$860.2bUS$437.5bUS$37.1b23.6x23.2x2x
Price to Earnings Ratio

23.2x


Total Market Cap: US$860.2bTotal Earnings: US$37.1bTotal Revenue: US$437.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 22.2x202420252026
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 31.9x which is higher than its 3-year average PE of 22.2x.
  • The 3-year average PS ratio of 2.2x 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 4.9% 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 Market-0.23%
Industrials-0.041%
Machinery0.88%
Construction Machinery and Vehicles2.81%
Agricultural Machinery2.15%
Industrial Machinery-1.00%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 30.6x.
    • Analysts are expecting annual earnings growth of 16.0%, which is higher than its past year's earnings growth of 0.6% 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 16.4x.
Forecasted Growth
  • Analysts are most optimistic on the Industrial Machinery industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings growth rate of 0.6% per year.
  • In contrast, the Agricultural Machinery industry is expected to see its earnings grow by 14% 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
CAT CaterpillarUS$657.364.9%
+US$14.4b		77.0%PE34.6x
DE DeereUS$528.002.6%
+US$3.7b		10.8%PE28.5x
PH Parker-HannifinUS$935.840.8%
+US$1.0b		32.4%PE33.4x
CMI CumminsUS$578.821.2%
+US$971.8m		62.5%PE29.9x
ITW Illinois Tool WorksUS$261.261.2%
+US$870.3m		0.8%PE25x

Latest News

OSK
US$143.82
Oshkosh
7D
-6.6%
1Y
23.6%

Oshkosh's (NYSE:OSK) Dividend Will Be Increased To $0.57

Feb 01
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PCAR
US$122.91
PACCAR
7D
0.7%
1Y
10.8%
SWK
US$78.66
Stanley Black & Decker
7D
-4.6%
1Y
-10.7%
ITW
US$261.26
Illinois Tool Works
7D
1.2%
1Y
0.8%

ITW: Cautious Earnings Setup And Prudent 2026 Guidance Will Shape Near-Term Risk

Analysts have nudged their fair value estimate for Illinois Tool Works to about $263 per share from roughly $261, reflecting modest adjustments to the discount rate, growth, margin, and future P/E assumptions while balancing cautious short term views with slightly higher long term expectations. Analyst Commentary Recent research highlights a mix of cautious and supportive views around Illinois Tool Works, especially as the market looks ahead to upcoming earnings and initial 2026 guidance.
OTIS
US$85.42
Otis Worldwide
7D
-6.1%
1Y
-10.5%
PH
US$935.84
Parker-Hannifin
7D
0.8%
1Y
32.4%
DOV
US$201.49
Dover
7D
-2.5%
1Y
-1.1%
CAT
US$657.36
Caterpillar
7D
4.9%
1Y
77.0%
CR
US$182.64
Crane
7D
-10.6%
1Y
7.2%
DE
US$528.00
Deere
7D
2.6%
1Y
10.8%
SYM
US$54.37
Symbotic
7D
-12.4%
1Y
85.2%

SYM: Margin Execution And New Wins Will Drive Future Upside Potential

Analysts have raised their fair value estimate for Symbotic to $83.00 from $60.00, citing higher assumed revenue growth, a lower future P/E multiple, and recent research that highlights stronger margin execution, new customer wins, and supportive end markets for warehouse and factory automation. Analyst Commentary Recent Street research on Symbotic shows a mix of enthusiasm and caution, with several bullish analysts lifting price targets and highlighting progress on margins, growth opportunities, and new customers, while at least one firm has shifted to a more neutral stance.
FTV
US$52.81
Fortive
7D
-3.3%
1Y
-35.1%

FTV: Balanced Outlook As Healthcare Demand And Buybacks Shape Future Returns

Narrative Update The analyst price target for Fortive has shifted from approximately $56.13 to $58.13, as analysts cite recent model updates and sequential improvements in North American demand for sterilization and biomedical equipment, along with higher AHS adjusted EBITDA driven by gross profit growth and lower costs. Analyst Commentary Recent research on Fortive reflects a mix of optimism on execution and caution around upside potential, which is showing up in both price target changes and rating shifts.
CMI
US$578.82
Cummins
7D
1.2%
1Y
62.5%

CMI: Data Center Power And Truck Cycle Trough Will Shape Future Returns

Analysts lifted their Cummins fair value estimate by about US$18 to roughly US$550, citing higher price targets across the Street, steady tweaks to revenue growth and margin assumptions, continued interest in data center power exposure, and a stabilizing North America truck cycle. Analyst Commentary Bullish Takeaways Analysts with a bullish view are leaning into higher valuation frameworks as multiple firms have raised price targets into the US$515 to US$630 range, signaling increased confidence in Cummins’ execution and earnings power.
LECO
US$265.35
Lincoln Electric Holdings
7D
2.6%
1Y
33.5%

LECO: Rich Multiple Will Likely Struggle As Execution Risks Intensify

Analysts have trimmed their price target on Lincoln Electric Holdings by $1 to $208. This reflects updated modeling around discount rate assumptions, revenue growth expectations, profit margins and future P/E estimates across the machinery and construction coverage universe.
XYL
US$137.87
Xylem
7D
-2.4%
1Y
11.1%

XYL: Margin Execution And Funding Trends Will Shape Steady Water Exposure

Analysts have raised their price target on Xylem, with the updated fair value estimate moving from $116.00 to about $138.46 as they factor in research that points to steady growth expectations, improving profit margins and support from diversified water technology exposure. Analyst Commentary Recent Street research on Xylem reflects a mix of confidence and caution, with price targets clustered in a relatively tight range and ratings spanning from Neutral to Overweight.
MLI
US$136.14
Mueller Industries
7D
2.6%
1Y
72.9%

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Jan 16
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