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U.S. Machinery Industry Analysis

UpdatedJun 26, 2026
DataAggregated Company Financials
Companies191
  • 7D4.1%
  • 3M21.7%
  • 1Y50.9%
  • YTD28.3%

The Machinery industry is up 4.1% in the last week, with Caterpillar up 7.2%. During this same period, the Flowserve underperformed, falling 8.2%. This means that the industry has gained 51% over the past year. 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
Fri, 26 Jun 2026US$1.6tUS$489.2bUS$44.8b28.3x36x3.3x
Sun, 24 May 2026US$1.4tUS$461.8bUS$43.7b26.9x33.2x3.1x
Tue, 21 Apr 2026US$1.5tUS$451.4bUS$43.5b27.5x34.2x3.3x
Thu, 19 Mar 2026US$1.4tUS$451.5bUS$43.4b26.4x31.6x3x
Sat, 14 Feb 2026US$1.5tUS$447.8bUS$42.9b29.9x34.8x3.3x
Mon, 12 Jan 2026US$1.3tUS$450.7bUS$43.7b26.3x30.5x3x
Wed, 10 Dec 2025US$1.3tUS$450.7bUS$43.7b24.9x28.6x2.8x
Fri, 07 Nov 2025US$1.2tUS$449.4bUS$44.3b23.8x27.7x2.7x
Sun, 05 Oct 2025US$1.2tUS$447.0bUS$44.2b24.5x26.7x2.6x
Tue, 02 Sep 2025US$1.1tUS$447.0bUS$44.2b24.1x25.6x2.5x
Thu, 31 Jul 2025US$1.1tUS$448.7bUS$44.5b23.2x25.5x2.5x
Sat, 28 Jun 2025US$1.1tUS$449.2bUS$44.6b24.1x24.2x2.4x
Mon, 26 May 2025US$1.0tUS$449.1bUS$44.6b23.1x23.1x2.3x
Wed, 23 Apr 2025US$892.9bUS$457.1bUS$48.6b19.9x18.4x2x
Fri, 21 Mar 2025US$1.0tUS$457.3bUS$47.9b21.3x21.5x2.2x
Sun, 16 Feb 2025US$1.1tUS$458.2bUS$48.0b23.8x22.7x2.4x
Tue, 14 Jan 2025US$1.0tUS$467.3bUS$47.9b23.3x21.4x2.2x
Thu, 12 Dec 2024US$1.1tUS$467.6bUS$47.9b24.4x23.5x2.4x
Sat, 09 Nov 2024US$1.1tUS$472.9bUS$49.2b24.9x22.7x2.4x
Mon, 07 Oct 2024US$1.1tUS$474.2bUS$49.4b21.9x21.5x2.2x
Wed, 04 Sep 2024US$1.0tUS$474.2bUS$49.3b20.7x20.5x2.1x
Fri, 02 Aug 2024US$1.0tUS$476.2bUS$50.4b22x20x2.1x
Sun, 30 Jun 2024US$962.9bUS$476.9bUS$51.6b21.4x18.7x2x
Tue, 28 May 2024US$1.0tUS$477.0bUS$51.3b22x19.7x2.1x
Thu, 25 Apr 2024US$1.0tUS$478.2bUS$48.2b23.2x21.3x2.1x
Sat, 23 Mar 2024US$1.1tUS$476.8bUS$48.0b23x21.9x2.2x
Mon, 19 Feb 2024US$975.9bUS$476.7bUS$47.4b22.9x20.6x2x
Wed, 17 Jan 2024US$939.8bUS$485.5bUS$47.8b21.8x19.7x1.9x
Fri, 15 Dec 2023US$923.8bUS$485.2bUS$47.9b22.5x19.3x1.9x
Sun, 12 Nov 2023US$845.7bUS$484.4bUS$47.2b19.9x17.9x1.7x
Tue, 10 Oct 2023US$873.0bUS$475.1bUS$44.4b20.1x19.7x1.8x
Thu, 07 Sep 2023US$917.8bUS$475.1bUS$44.5b20.3x20.6x1.9x
Sat, 05 Aug 2023US$940.1bUS$472.8bUS$43.7b20.4x21.5x2x
Mon, 03 Jul 2023US$907.6bUS$459.8bUS$40.2b20.6x22.6x2x
Price to Earnings Ratio

22.6x


Total Market Cap: US$907.6bTotal Earnings: US$40.2bTotal Revenue: US$459.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 23.8x202420252026
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 36.0x which is higher than its 3-year average PE of 23.8x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 3.3x.
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 Market-2.68%
Industrials1.11%
Machinery4.14%
Agricultural Machinery6.60%
Construction Machinery and Vehicles5.36%
Industrial Machinery2.11%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 20.5x.
    • Analysts are expecting annual earnings growth of 17.2%, 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 18.5x.
Forecasted Growth
  • Analysts are most optimistic on the Agricultural Machinery industry, expecting annual earnings growth of 17% 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
CAT CaterpillarUS$1.06k7.2%
+US$32.8b		176.8%PE51.6x
DE DeereUS$630.767.0%
+US$11.2b		24.0%PE35.6x
PH Parker-HannifinUS$989.913.8%
+US$4.6b		43.1%PE35.9x
ITW Illinois Tool WorksUS$270.602.5%
+US$1.9b		9.7%PE24.8x
IR Ingersoll RandUS$81.704.9%
+US$1.5b		-3.8%PE54.5x

Latest News

DE
US$630.76
Deere
7D
7.0%
1Y
24.0%
WAB
US$282.45
Westinghouse Air Brake Technologies
7D
3.1%
1Y
36.9%
ESAB
US$98.82
ESAB
7D
-6.9%
1Y
-18.5%
WOR
US$55.94
Worthington Enterprises
7D
-7.4%
1Y
-11.3%
Seeking Alpha • Jun 24

Worthington Enterprises: An Optimistic Dividend Hike, A Fair Valuation (Downgrade)

Summary Worthington Enterprises is downgraded to "Hold" after a double miss in Q4 earnings and a sharp post-earnings selloff. WOR’s valuation aligns with historical averages, with mixed PEG and price-to-sales ratios, and current trading near fair value. Q4 saw stable adjusted EBITDA margins, $55 million free cash flow, and a dividend hike, but profitability trends remain lackluster. Technical signals suggest a bearish false breakout, with shares likely to churn between $50–$60 amid declining long-term momentum. Read the full article on Seeking Alpha
PCAR
US$121.68
PACCAR
7D
2.3%
1Y
28.2%
Narrative Update • Jun 24

PCAR: Durable Earnings And Mixed Sentiment Will Test Execution Through The Truck Cycle

The PACCAR analyst price target has shifted modestly as mixed revisions from firms raising and lowering their targets led analysts to reassess assumptions on revenue growth, profit margins and future P/E levels, while holding fair value steady at $109.00. Analyst Commentary Recent research on PACCAR reflects a split view, with several bearish analysts trimming price targets while others have made modest upward adjustments.
CMI
US$727.59
Cummins
7D
1.5%
1Y
124.4%
PH
US$989.91
Parker-Hannifin
7D
3.8%
1Y
43.1%
SYM
US$40.77
Symbotic
7D
-2.2%
1Y
9.7%
ITW
US$270.60
Illinois Tool Works
7D
2.5%
1Y
9.7%
Narrative Update • Jun 23

ITW: Earnings Beat And Dividend Growth Will Support Fairly Valued Shares

The updated analyst price target for Illinois Tool Works reflects a modest adjustment of a few dollars, as analysts refine their dollar-based valuation inputs in response to recent mixed target changes across major research firms. Analyst Commentary Recent research updates on Illinois Tool Works show a mix of target raises and cuts, which indicates that analysts are split on how to weigh the company’s valuation against its execution and growth profile.
FLS
US$74.99
Flowserve
7D
-8.2%
1Y
44.5%
Narrative Update • Jun 22

FLS: Margin Expansion And AI Infrastructure Tailwinds Face Activist Pressure

Flowserve's updated narrative keeps fair value steady at $90, while analysts trim price targets by $1 to $15 in response to recent research that reflects modestly adjusted assumptions related to discount rate, growth, and P/E expectations. Analyst Commentary Recent Street research around Flowserve shows a mix of views on valuation, with several firms adjusting price targets in both directions and one new assumption of coverage.
CAT
US$1,057.01
Caterpillar
7D
7.2%
1Y
176.8%
Narrative Update • Jun 22

CAT: AI Power Demand And Record Backlog Will Drive Future Multiple Repricing

The analyst price target for Caterpillar has been revised from $850.00 to $1,165.00. Analysts point to research that highlights strong demand across power generation, construction, mining, and oil and gas as key support for higher earnings assumptions, along with modestly higher long term revenue growth, margins, and P/E expectations.
IR
US$81.70
Ingersoll Rand
7D
4.9%
1Y
-3.8%
CECO
US$95.09
CECO Environmental
7D
-3.4%
1Y
216.3%
Analysis Article • Jun 21

CECO Environmental (CECO) Stock Could Be 9.1% Undervalued After Q1 Revenue Beat

CECO Environmental (CECO) drew investor attention after reporting Q1 revenue that exceeded forecasts by 4.1%, along with a record backlog above US$1b tied to natural gas power, electrification, and AI computing projects. See our latest analysis for CECO Environmental. CECO Environmental's latest Q1 update appears to have sharpened investor focus, with the stock's 30-day share price return of 20.43% and 90-day share price return of 68.46% sitting alongside a very large 5-year total shareholder...
MLI
US$134.39
Mueller Industries
7D
-2.2%
1Y
69.5%
Analysis Article • Jun 19

Mueller Industries (MLI) Stock Looks Cheap On P E But Rich On Cash Flow

Mueller Industries (MLI) shares have been active recently, prompting investors to reassess the US$137.39 stock price in light of the company’s current earnings, revenue mix, and recent return profile. See our latest analysis for Mueller Industries. Over the past year Mueller Industries has combined a strong recent run with some short term cooling, with a 90 day share price return of 27.5% and a 1 year total shareholder return of 90.81% suggesting momentum has been building over an extended...
ALH
US$26.37
Alliance Laundry Holdings
7D
-1.9%
1Y
n/a
VELO
US$17.38
Velo3D
7D
-41.8%
1Y
129.0%