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U.S. Machinery Industry Analysis

UpdatedFeb 19, 2026
DataAggregated Company Financials
Companies187
  • 7D-1.5%
  • 3M26.4%
  • 1Y36.4%
  • YTD17.4%

In the last week, the Machinery industry is up 1.2%, with Otis Worldwide up 3.7%. This means that the industry has gained 38% over the past year. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 19 Feb 2026US$1.5tUS$448.2bUS$42.9b29.5x35x3.4x
Sat, 17 Jan 2026US$1.4tUS$450.7bUS$43.7b27.5x31.5x3.1x
Mon, 15 Dec 2025US$1.3tUS$450.8bUS$43.7b26x29.3x2.8x
Wed, 12 Nov 2025US$1.2tUS$449.2bUS$43.8b24.1x28.2x2.7x
Fri, 10 Oct 2025US$1.2tUS$446.9bUS$44.9b23.8x26.3x2.6x
Sun, 07 Sep 2025US$1.1tUS$447.0bUS$44.2b24.6x25.6x2.5x
Tue, 05 Aug 2025US$1.1tUS$447.5bUS$44.6b23.2x24.9x2.5x
Thu, 03 Jul 2025US$1.1tUS$448.4bUS$44.6b23.9x24.5x2.4x
Sat, 31 May 2025US$1.0tUS$449.1bUS$44.6b23.1x23.4x2.3x
Mon, 28 Apr 2025US$955.3bUS$457.2bUS$48.4b20.9x19.7x2.1x
Wed, 26 Mar 2025US$1.0tUS$457.3bUS$47.9b21.4x21.6x2.3x
Fri, 21 Feb 2025US$1.1tUS$458.0bUS$48.0b24.2x23.1x2.4x
Sun, 19 Jan 2025US$1.1tUS$467.3bUS$47.9b23.5x22.9x2.4x
Tue, 17 Dec 2024US$1.1tUS$467.4bUS$47.9b24x23.1x2.4x
Thu, 14 Nov 2024US$1.1tUS$471.6bUS$49.0b24.6x22.6x2.4x
Sat, 12 Oct 2024US$1.1tUS$474.2bUS$49.4b21.5x21.4x2.2x
Mon, 09 Sep 2024US$952.7bUS$474.2bUS$49.4b20.3x19.3x2x
Wed, 07 Aug 2024US$928.2bUS$476.8bUS$50.6b20.8x18.4x1.9x
Fri, 05 Jul 2024US$953.0bUS$476.9bUS$51.6b19.8x18.5x2x
Sun, 02 Jun 2024US$994.6bUS$477.0bUS$51.3b22.8x19.4x2.1x
Tue, 30 Apr 2024US$1.0tUS$478.5bUS$49.6b23x20.5x2.1x
Thu, 28 Mar 2024US$1.1tUS$476.8bUS$47.9b24.2x22.2x2.2x
Sat, 24 Feb 2024US$985.1bUS$476.5bUS$47.5b24.2x20.8x2.1x
Mon, 22 Jan 2024US$942.5bUS$485.5bUS$47.8b22.4x19.7x1.9x
Wed, 20 Dec 2023US$962.5bUS$485.1bUS$47.9b22.5x20.1x2x
Fri, 17 Nov 2023US$871.8bUS$484.0bUS$47.1b20.3x18.5x1.8x
Sun, 15 Oct 2023US$865.1bUS$475.1bUS$44.4b19.9x19.5x1.8x
Tue, 12 Sep 2023US$900.4bUS$475.0bUS$44.4b20.4x20.3x1.9x
Thu, 10 Aug 2023US$943.8bUS$473.3bUS$43.5b20.5x21.7x2x
Sat, 08 Jul 2023US$900.7bUS$459.8bUS$40.2b20.3x22.4x2x
Mon, 05 Jun 2023US$828.8bUS$460.8bUS$40.4b19.2x20.5x1.8x
Wed, 03 May 2023US$818.0bUS$454.2bUS$39.7b19.5x20.6x1.8x
Fri, 31 Mar 2023US$832.9bUS$442.8bUS$38.1b21.5x21.9x1.9x
Sun, 26 Feb 2023US$853.7bUS$442.1bUS$38.0b22.9x22.4x1.9x
Price to Earnings Ratio

22.4x


Total Market Cap: US$853.7bTotal Earnings: US$38.0bTotal Revenue: US$442.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 22.4x202420252026
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 35.2x which is higher than its 3-year average PE of 22.4x.
  • The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 3.4x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have grown 4.1% 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-0.74%
Industrials-0.17%
Machinery-1.51%
Industrial Machinery-0.64%
Construction Machinery and Vehicles-2.09%
Agricultural Machinery-2.75%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 30.7x.
    • Analysts are expecting annual earnings growth of 15.9%, which is higher than its past year's earnings growth of 3.7% 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 16.6x.
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 3.7% 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
OTIS Otis WorldwideUS$92.773.7%
+US$1.3b		-5.6%PE26.1x
WAB Westinghouse Air Brake TechnologiesUS$259.331.9%
+US$725.3m		34.1%PE37.9x
XYL XylemUS$129.241.9%
+US$601.9m		-0.8%PE32.9x
WTS Watts Water TechnologiesUS$329.914.8%
+US$505.5m		51.0%PE32.3x
SPXC SPX TechnologiesUS$241.583.5%
+US$404.7m		62.0%PE53.8x

Latest News

ITW
US$296.16
Illinois Tool Works
7D
-0.6%
1Y
12.1%
WTS
US$329.91
Watts Water Technologies
7D
4.8%
1Y
51.0%
FLS
US$88.64
Flowserve
7D
2.4%
1Y
50.2%

FLS: Higher Execution Demands Around Margins And Orders Will Restrain Upside

Our Flowserve fair value estimate moves from $65.63 to $81.58 as analysts reflect updated targets that point to slightly higher revenue growth assumptions, firmer profit margins, and a higher future P/E multiple. Analyst Commentary Street research around Flowserve has centered on higher price targets and updated views on where the shares could trade relative to revised earnings assumptions and sector peers.
FELE
US$90.88
Franklin Electric
7D
-17.1%
1Y
-14.3%
SPXC
US$241.58
SPX Technologies
7D
3.5%
1Y
62.0%
CMI
US$593.00
Cummins
7D
-1.0%
1Y
53.6%
XYL
US$129.24
Xylem
7D
1.9%
1Y
-0.8%

XYL: Water Infrastructure Demand And Margin Gains Will Support Future Upside

Our updated narrative on Xylem reflects a lower fair value estimate of $158.41, with analysts generally trimming price targets as they factor in more tempered revenue growth expectations, a slightly higher discount rate, and a softer future P/E, partly balanced by modestly stronger projected profit margins. Analyst Commentary Recent Street research on Xylem has centered on recalibrated price targets, with several firms trimming their views and one initiating coverage with a constructive stance on the business.
DOV
US$232.08
Dover
7D
-0.4%
1Y
13.3%
WAB
US$259.33
Westinghouse Air Brake Technologies
7D
1.9%
1Y
34.1%
CAT
US$751.97
Caterpillar
7D
-3.0%
1Y
113.0%
OTIS
US$92.77
Otis Worldwide
7D
3.7%
1Y
-5.6%
ITT
US$204.94
ITT
7D
1.6%
1Y
36.8%
PCAR
US$125.17
PACCAR
7D
-3.3%
1Y
16.8%

PCAR: Future Returns Will Hinge On Truck Demand And Emerging Emissions Rules

The analyst price target for PACCAR has shifted from about $111.44 to $122.15, with analysts pointing to updated assumptions for revenue growth, profit margins and future P/E multiples that are consistent with a series of recent price target increases across major research firms. Analyst Commentary Recent research updates on PACCAR cluster around higher price targets and a view that the shares are closer to fairly valued than deeply mispriced.
SYM
US$54.01
Symbotic
7D
-7.5%
1Y
101.8%

SYM: Deployment Timing Shifts And Customer Mix Will Steer Future Returns

Analysts have nudged their fair value estimate for Symbotic higher to about $63.25 from $61.71, citing updated expectations around revenue growth, profit margins, and future P/E assumptions following recent price target increases from several firms. Analyst Commentary Recent research has centered on how Symbotic is executing against its growth plans, what that means for margins, and how much investors might be willing to pay for that profile through a higher P/E over time.
NDSN
US$299.29
Nordson
7D
1.6%
1Y
37.5%

NDSN: 2026 Sales Guidance Will Reinforce Concerns About Rich Earnings Multiple

Analysts have nudged their price target on Nordson slightly higher to about US$243 from US$242, pointing to updated assumptions around modestly stronger revenue growth, profit margins, and a slightly lower discount rate, alongside a nearly steady forward P/E view. What's in the News From August 1, 2025 to October 31, 2025, Nordson repurchased 389,000 shares, representing 0.69% of shares, for US$87.45 million under its ongoing buyback program (Key Developments).
DE
US$593.27
Deere
7D
-3.2%
1Y
16.5%