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U.S. Machinery Industry Analysis

UpdatedMar 05, 2026
DataAggregated Company Financials
Companies187
  • 7D-2.4%
  • 3M16.2%
  • 1Y42.7%
  • YTD15.5%

Over the last 7 days, the Machinery industry has dropped 2.0%, driven by Caterpillar declining 6.0%. Over the past 12 months, the industry was up 41%. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Mar 2026US$1.5tUS$449.8bUS$43.1b28.4x33.7x3.2x
Sat, 31 Jan 2026US$1.4tUS$453.3bUS$42.9b27.6x32.2x3x
Mon, 29 Dec 2025US$1.3tUS$450.8bUS$43.7b25.6x29.1x2.8x
Wed, 26 Nov 2025US$1.2tUS$449.1bUS$43.9b24.7x27.8x2.7x
Fri, 24 Oct 2025US$1.2tUS$445.6bUS$44.6b24.7x26.4x2.6x
Sun, 21 Sep 2025US$1.2tUS$447.0bUS$44.2b24.4x26.2x2.6x
Tue, 19 Aug 2025US$1.1tUS$446.8bUS$44.2b23.9x25.3x2.5x
Thu, 17 Jul 2025US$1.1tUS$449.5bUS$44.6b23x24.8x2.5x
Sat, 14 Jun 2025US$1.1tUS$449.2bUS$44.5b23x23.7x2.3x
Mon, 12 May 2025US$993.4bUS$451.6bUS$45.3b22.1x21.9x2.2x
Wed, 09 Apr 2025US$876.8bUS$457.0bUS$48.6b17.9x18x1.9x
Fri, 07 Mar 2025US$1.0tUS$458.0bUS$47.9b21.6x21.7x2.3x
Sun, 02 Feb 2025US$1.1tUS$462.7bUS$47.6b23.5x23.4x2.4x
Tue, 31 Dec 2024US$1.1tUS$467.6bUS$47.9b22.4x22x2.2x
Thu, 28 Nov 2024US$1.2tUS$467.6bUS$47.8b25.3x24.2x2.5x
Sat, 26 Oct 2024US$1.1tUS$473.9bUS$49.0b21.3x21.6x2.2x
Mon, 23 Sep 2024US$1.0tUS$474.2bUS$49.4b21.4x20.9x2.2x
Wed, 21 Aug 2024US$983.7bUS$474.2bUS$49.0b21.2x20.1x2.1x
Fri, 19 Jul 2024US$1.0tUS$476.7bUS$51.6b21.2x19.9x2.2x
Sun, 16 Jun 2024US$957.8bUS$477.0bUS$51.3b21.7x18.7x2x
Tue, 14 May 2024US$1.0tUS$479.5bUS$51.8b21.9x19.9x2.1x
Thu, 11 Apr 2024US$1.1tUS$478.1bUS$48.1b23.7x22.2x2.2x
Sat, 09 Mar 2024US$1.0tUS$477.2bUS$47.5b24.2x21.2x2.1x
Mon, 05 Feb 2024US$993.6bUS$485.3bUS$48.3b23.1x20.6x2x
Wed, 03 Jan 2024US$962.4bUS$485.5bUS$47.8b22.4x20.1x2x
Fri, 01 Dec 2023US$880.1bUS$483.9bUS$47.8b20.5x18.4x1.8x
Sun, 29 Oct 2023US$811.5bUS$478.5bUS$45.4b18.3x17.9x1.7x
Tue, 26 Sep 2023US$873.8bUS$475.1bUS$44.4b20x19.7x1.8x
Thu, 24 Aug 2023US$904.3bUS$475.1bUS$44.5b19.9x20.3x1.9x
Sat, 22 Jul 2023US$943.6bUS$459.8bUS$40.2b20.5x23.5x2.1x
Mon, 19 Jun 2023US$896.1bUS$460.9bUS$40.5b20.1x22.2x1.9x
Wed, 17 May 2023US$793.1bUS$456.7bUS$39.7b18.1x20x1.7x
Fri, 14 Apr 2023US$820.4bUS$444.6bUS$38.3b20.7x21.4x1.8x
Sun, 12 Mar 2023US$825.4bUS$443.0bUS$38.0b21.9x21.7x1.9x
Price to Earnings Ratio

21.7x


Total Market Cap: US$825.4bTotal Earnings: US$38.0bTotal Revenue: US$443.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 22.5x202420252026
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 34.5x which is higher than its 3-year average PE of 22.5x.
  • The 3-year average PS ratio of 2.2x 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 4.4% 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 Market-1.22%
Industrials-0.28%
Machinery-2.40%
Agricultural Machinery-1.66%
Industrial Machinery-1.89%
Construction Machinery and Vehicles-3.26%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 30.8x.
    • Analysts are expecting annual earnings growth of 14.7%, which is higher than its past year's earnings decline of 0.04% 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 16.8x.
Forecasted Growth
  • Analysts are most optimistic on the Agricultural Machinery industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings decline of 22% per year.
  • In contrast, the Industrial Machinery industry is expected to see its earnings grow by 15% 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$91.151.9%
+US$668.6m		-10.1%PE25.6x
GTLS Chart IndustriesUS$207.27-0.01%
US$444.7m		24.8%PE646.6x
ALSN Allison Transmission HoldingsUS$126.943.4%
+US$349.4m		30.0%PE16.9x
XYL XylemUS$129.400.9%
+US$277.2m		-0.2%PE32.9x
IEX IDEXUS$208.701.2%
+US$187.4m		10.8%PE32.1x

Latest News

TTC
US$100.73
Toro
7D
1.7%
1Y
29.1%
CMI
US$574.06
Cummins
7D
-3.4%
1Y
65.3%

Cummins Inc. (CMI): The Power Generation Titan – Scaling Data Center Infrastructure and Multi-Fuel Innovation in 2026.

Cummins (CMI) is currently a pivotal player in the global industrial and energy landscape, trading at $560.10 as of the March 3, 2026, close. While the stock faced a 3.5% intraday decline today amid a broader market pullback, it remains a standout performer following a robust Q4 2025 earnings beat on February 5.
CAT
US$731.97
Caterpillar
7D
-4.5%
1Y
116.2%

Caterpillar Inc. (CAT): The Industrial Architect – Leveraging the AI Data Center Boom and Infrastructure Supercycle in 2026.

Caterpillar (CAT) is currently operating as the engine of the global industrial recovery, trading at $752.18 as of the March 2, 2026, close. Despite a broader market rotation that has punished high-multiple growth stocks, Caterpillar has surged over 120% in the last year , recently hitting an all-time high above $775 on February 11.
ALSN
US$126.94
Allison Transmission Holdings
7D
3.4%
1Y
30.0%
XYL
US$129.40
Xylem
7D
0.9%
1Y
-0.2%

XYL: Future Returns Will Depend On Execution And Evolving Funding Conditions

Narrative Update on Xylem We are trimming our analyst price target for Xylem by about $11 to reflect slightly lower modeled fair value, modestly softer revenue growth and profit margin assumptions, and a reduced future P/E that is in line with recent target cuts from multiple covering firms. Analyst Commentary Recent Street research on Xylem reflects a more cautious tone, with several bearish analysts reducing their price targets by a wide range of amounts.
GTLS
US$207.27
Chart Industries
7D
-0.01%
1Y
24.8%
DE
US$614.04
Deere
7D
-1.5%
1Y
31.3%
SWK
US$79.78
Stanley Black & Decker
7D
-6.4%
1Y
-4.6%
IEX
US$208.70
IDEX
7D
1.2%
1Y
10.8%

IEX: Future CFO And Continued M&A Will Support Steady Outlook

Analysts have kept their average IDEX price target broadly steady around $223.54, with only marginal tweaks to inputs such as the discount rate and assumed future P/E multiple to reflect updated views on the company’s risk profile and valuation framework. What's in the News IDEX is actively pursuing mergers and acquisitions, with management indicating they see themselves around the midpoint of a long term capital deployment cycle and planning additional deals to build out existing market positions, using prior acquisition activity as a reference point for future bolt on targets (Key Developments).
ITT
US$197.75
ITT
7D
-5.3%
1Y
42.3%
DCI
US$93.44
Donaldson Company
7D
-10.5%
1Y
35.8%
OTIS
US$91.15
Otis Worldwide
7D
1.9%
1Y
-10.1%
RBC
US$570.08
RBC Bearings
7D
0.8%
1Y
60.1%

RBC: Raised Fair Value And Q4 Guidance Will Shape Balanced Outlook

Analysts have adjusted their price target on RBC Bearings to $594.50 from $562.50, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margins, and future P/E expectations. What's in the News RBC Bearings issued new earnings guidance for the fourth quarter of fiscal 2026, with expected net sales in a range of $495.0 million to $505.0 million (Corporate guidance).
PH
US$987.79
Parker-Hannifin
7D
-2.4%
1Y
54.3%

Parker-Hannifin (PH) The Industrial Alchemist: Transforming Motion into Margin

Parker-Hannifin (PH) has ascended to a new stratosphere of industrial performance, with its stock trading at $1,022.24 as of the market close on February 20, 2026. The company’s recent "record-shattering" Q2 FY2026 earnings report, delivered on January 29, showcased a masterclass in operational efficiency, with adjusted EPS hitting $7.65 —a 17% increase year-over-year.
PCAR
US$124.92
PACCAR
7D
0.3%
1Y
21.3%

PCAR: Easing 2027 Emissions Rules Will Support Higher Margins And Premium Pricing

The analyst price target for PACCAR has been raised from $147.64 to $150.00, reflecting updated assumptions for slightly higher revenue growth, profit margins, and future P/E. This change is in line with a series of recent target increases from firms such as Morgan Stanley, Citi, Wells Fargo, BofA, and JPMorgan.
FLS
US$82.91
Flowserve
7D
-9.9%
1Y
63.1%