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U.S. Machinery Industry Analysis

UpdatedJul 12, 2026
DataAggregated Company Financials
Companies191
  • 7D-1.2%
  • 3M3.7%
  • 1Y38.3%
  • YTD21.1%

Over the last 7 days, the Machinery industry has dropped 1.2%, driven by Deere declining 5.5%. Over the past 12 months, the industry was up 38%. Earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Jul 2026US$1.6tUS$489.0bUS$44.8b26.8x35.4x3.2x
Tue, 09 Jun 2026US$1.5tUS$489.4bUS$44.8b26.8x33.9x3.1x
Thu, 07 May 2026US$1.5tUS$460.5bUS$44.0b28x34.1x3.3x
Sat, 04 Apr 2026US$1.4tUS$451.5bUS$43.6b26.2x31.6x3.1x
Mon, 02 Mar 2026US$1.5tUS$450.0bUS$43.2b28.4x34.5x3.3x
Wed, 28 Jan 2026US$1.4tUS$449.6bUS$43.4b27.7x31.4x3x
Fri, 26 Dec 2025US$1.3tUS$450.8bUS$43.7b25.5x29.1x2.8x
Sun, 23 Nov 2025US$1.2tUS$449.1bUS$43.9b23.7x27x2.6x
Tue, 21 Oct 2025US$1.2tUS$447.0bUS$44.9b24.3x26.5x2.7x
Thu, 18 Sep 2025US$1.1tUS$447.0bUS$44.2b24.4x25.8x2.6x
Sat, 16 Aug 2025US$1.1tUS$446.8bUS$44.2b23.7x25.6x2.5x
Mon, 14 Jul 2025US$1.1tUS$449.5bUS$44.6b23.9x25.1x2.5x
Wed, 11 Jun 2025US$1.1tUS$449.1bUS$44.5b23.2x23.9x2.4x
Fri, 09 May 2025US$977.2bUS$451.4bUS$45.2b22.3x21.6x2.2x
Sun, 06 Apr 2025US$887.8bUS$457.1bUS$48.6b18.6x18.3x1.9x
Tue, 04 Mar 2025US$1.1tUS$458.2bUS$48.0b21.6x22.3x2.3x
Thu, 30 Jan 2025US$1.1tUS$464.2bUS$47.3b23.2x23.4x2.4x
Sat, 28 Dec 2024US$1.1tUS$467.6bUS$47.9b22.6x22.2x2.3x
Mon, 25 Nov 2024US$1.1tUS$467.5bUS$48.0b25x23.9x2.4x
Wed, 23 Oct 2024US$1.1tUS$473.9bUS$49.2b21.4x21.8x2.3x
Fri, 20 Sep 2024US$1.0tUS$474.2bUS$49.4b21.7x20.5x2.1x
Sun, 18 Aug 2024US$978.5bUS$474.2bUS$49.0b21.3x20x2.1x
Tue, 16 Jul 2024US$986.5bUS$476.7bUS$51.6b21.2x19.1x2.1x
Thu, 13 Jun 2024US$964.3bUS$477.0bUS$51.3b22.6x18.8x2x
Sat, 11 May 2024US$1.0tUS$479.5bUS$51.8b22.2x20x2.2x
Mon, 08 Apr 2024US$1.1tUS$478.2bUS$48.1b23.8x22.2x2.2x
Wed, 06 Mar 2024US$1.0tUS$477.2bUS$47.4b24.2x21.1x2.1x
Fri, 02 Feb 2024US$982.0bUS$485.3bUS$48.3b22.9x20.4x2x
Sun, 31 Dec 2023US$970.3bUS$484.8bUS$47.9b22.8x20.3x2x
Tue, 28 Nov 2023US$883.5bUS$484.0bUS$47.7b20.7x18.5x1.8x
Thu, 26 Oct 2023US$824.5bUS$476.8bUS$45.1b17.9x18.3x1.7x
Sat, 23 Sep 2023US$868.8bUS$475.0bUS$44.4b19.8x19.6x1.8x
Mon, 21 Aug 2023US$897.2bUS$413.7bUS$34.5b19.9x26x2.2x
Wed, 19 Jul 2023US$953.8bUS$459.8bUS$40.2b20.7x23.7x2.1x
Price to Earnings Ratio

23.7x


Total Market Cap: US$953.8bTotal 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 35.4x 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 Market0.81%
Industrials-1.42%
Machinery-1.16%
Construction Machinery and Vehicles-0.21%
Industrial Machinery-1.01%
Agricultural Machinery-5.10%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 20.8x.
    • 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
PCAR PACCARUS$124.574.2%
+US$2.7b		28.1%PE26.5x
CMI CumminsUS$675.952.2%
+US$2.0b		99.5%PE34.9x
XYL XylemUS$121.222.6%
+US$736.8m		-7.4%PE29.4x
ITT ITTUS$195.004.4%
+US$733.1m		23.5%PE38.1x
MFP Midera Food ProcessingUS$41.4415.1%
+US$245.5m		n/an/a

Latest News

TRN
US$35.69
Trinity Industries
7D
4.6%
1Y
28.0%
PCAR
US$124.57
PACCAR
7D
4.2%
1Y
28.1%
Seeking Alpha • Jul 11

Paccar: Parts Strength Makes The Difference

Summary PACCAR is a premium commercial vehicle company with rising production, improving margins, and a robust balance sheet, justifying a valuation premium. Truck deliveries are increasing, margins are recovering, and the parts business is driving stable, high-quality earnings growth. PCAR trades at a premium to Volvo but is reasonably valued against Cummins, with consensus expecting nearly 38% EPS growth from 2026 to 2028. I rate PCAR a cautious buy, supported by a strong backlog, a resilient earnings base, and proven execution through cycles. Read the full article on Seeking Alpha
DE
US$586.86
Deere
7D
-5.5%
1Y
14.5%
ITW
US$268.81
Illinois Tool Works
7D
-1.4%
1Y
3.5%
CAT
US$952.41
Caterpillar
7D
-1.2%
1Y
134.6%
WTS
US$352.36
Watts Water Technologies
7D
-4.4%
1Y
38.4%
MIDD
US$135.67
Middleby
7D
-22.5%
1Y
-9.3%
Narrative Update • Jul 08

MIDD: Food Processing Spin Off And CFS Focus Will Drive Future Upside

Analysts have reduced the fair value estimate for Middleby from $185.00 to about $164.28, reflecting lower modeled revenue growth after the Food Processing separation. They still cite the pure-play Commercial Foodservice focus and margin profile as key parts of the updated outlook.
ITT
US$195.00
ITT
7D
4.4%
1Y
23.5%
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.
SWK
US$88.22
Stanley Black & Decker
7D
-4.0%
1Y
21.1%
Narrative Update • Jul 08

SWK: Future Returns Will Depend On Execution Of Multi Year Cost Cuts

Analysts have updated their fair value estimate for Stanley Black & Decker, lifting the price target from $75.00 to $80.00 as they revise assumptions around the discount rate, revenue growth, profit margin, and future P/E. What’s in the News for Stanley Black & Decker Confluence Investment Management opened a roughly US$126.9 million position in Stanley Black & Decker, signaling institutional interest in the company’s multi year cost reduction plan under CEO Christopher Nelson and its goal of reaching a 35%+ gross margin.
MFP
US$41.44
Midera Food Processing
7D
15.1%
1Y
n/a
CMI
US$675.95
Cummins
7D
2.2%
1Y
99.5%
Seeking Alpha • Jul 06

Cummins: The Downcycle Is Ending, And The Upside Is Building

Summary Cummins (CMI) is well-positioned for Q2 upside as North America on-highway markets exit their cyclical downturn, supporting a continued Buy rating. Q2 earnings are set up for a material beat, with modeled EPS of $8.28 versus Street at $7.24, driven by accelerating Engine and Components growth. CMI's 2030 roadmap targets $45–$50B revenue and 20% EBITDA margin, implying 8% annual top-line growth and 50bps yearly margin expansion. I see 28% upside to a $850 price target, expecting CMI to re-rate to a high-20s P/E as earnings compound and cyclical recovery strengthens. Read the full article on Seeking Alpha
XYL
US$121.22
Xylem
7D
2.6%
1Y
-7.4%
FSS
US$115.23
Federal Signal
7D
-12.1%
1Y
4.6%
IR
US$78.85
Ingersoll Rand
7D
-2.2%
1Y
-11.4%
OSK
US$146.34
Oshkosh
7D
2.6%
1Y
16.3%
Narrative Update • Jun 30

OSK: Non Residential Construction And AI Systems Will Support Future Earnings Execution

Oshkosh's analyst fair value estimate has been adjusted from $204.00 to about $194.24 as analysts incorporate a series of lower Street price targets along with updated assumptions for revenue growth, profit margins, discount rate, and future P/E multiples. Analyst Commentary Street research on Oshkosh has recently reflected a more cautious tone, with several firms cutting price targets and one downgrade from Citi.
DOV
US$215.33
Dover
7D
0.8%
1Y
14.0%