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U.S. Machinery Industry Analysis

UpdatedJul 04, 2026
DataAggregated Company Financials
Companies191
  • 7D-1.8%
  • 3M13.7%
  • 1Y40.6%
  • YTD22.8%

Over the last 7 days, the Machinery industry has dropped 1.8%, driven by a pullback from Caterpillar of 3.4%. This takes the industry's 12 month performance to a gain of 41%. 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
Sun, 05 Jul 2026US$1.6tUS$462.0bUS$43.4b27.9x36x3.4x
Tue, 02 Jun 2026US$1.4tUS$461.8bUS$43.6b26.8x33.2x3.1x
Thu, 30 Apr 2026US$1.5tUS$452.1bUS$43.7b27.4x33.7x3.3x
Sat, 28 Mar 2026US$1.4tUS$451.8bUS$43.4b26.1x31.4x3x
Mon, 23 Feb 2026US$1.5tUS$449.5bUS$42.7b29.9x35.6x3.4x
Wed, 21 Jan 2026US$1.4tUS$450.6bUS$43.7b26.5x31.5x3.1x
Fri, 19 Dec 2025US$1.2tUS$450.9bUS$43.7b25.4x28.5x2.8x
Sun, 16 Nov 2025US$1.2tUS$449.4bUS$43.8b23.9x27.5x2.7x
Tue, 14 Oct 2025US$1.1tUS$446.9bUS$44.9b23.5x25.3x2.5x
Thu, 11 Sep 2025US$1.1tUS$447.0bUS$44.2b24.5x25.4x2.5x
Sat, 09 Aug 2025US$1.1tUS$447.6bUS$44.3b23.3x25.3x2.5x
Mon, 07 Jul 2025US$1.1tUS$448.4bUS$44.6b23.9x25.1x2.5x
Wed, 04 Jun 2025US$1.0tUS$449.2bUS$44.5b23.4x23.2x2.3x
Fri, 02 May 2025US$960.0bUS$453.8bUS$46.9b21.4x20.5x2.1x
Sun, 30 Mar 2025US$993.7bUS$457.3bUS$48.2b20.3x20.6x2.2x
Tue, 25 Feb 2025US$1.1tUS$458.0bUS$48.0b23.7x22.3x2.3x
Thu, 23 Jan 2025US$1.1tUS$467.3bUS$47.9b23.6x23.4x2.4x
Sat, 21 Dec 2024US$1.0tUS$467.6bUS$47.9b22.6x21.8x2.2x
Mon, 18 Nov 2024US$1.1tUS$471.7bUS$49.0b24.1x22.4x2.3x
Wed, 16 Oct 2024US$1.1tUS$474.2bUS$49.4b21.7x21.6x2.2x
Fri, 13 Sep 2024US$969.5bUS$474.2bUS$49.4b20.5x19.6x2x
Sun, 11 Aug 2024US$954.0bUS$476.5bUS$50.1b21x19x2x
Tue, 09 Jul 2024US$945.1bUS$476.9bUS$51.6b19.9x18.3x2x
Thu, 06 Jun 2024US$966.6bUS$477.1bUS$51.3b22.5x18.8x2x
Sat, 04 May 2024US$994.0bUS$479.1bUS$51.7b22.5x19.2x2.1x
Mon, 01 Apr 2024US$1.1tUS$476.8bUS$47.9b23.9x22.2x2.2x
Wed, 28 Feb 2024US$987.5bUS$476.8bUS$47.5b24.4x20.8x2.1x
Fri, 26 Jan 2024US$948.8bUS$486.4bUS$48.3b22.8x19.6x2x
Sun, 24 Dec 2023US$964.1bUS$484.9bUS$47.8b22.8x20.2x2x
Tue, 21 Nov 2023US$880.7bUS$484.0bUS$47.5b20.4x18.5x1.8x
Thu, 19 Oct 2023US$853.4bUS$475.2bUS$44.4b19.4x19.2x1.8x
Sat, 16 Sep 2023US$886.2bUS$475.0bUS$44.4b20.3x20x1.9x
Mon, 14 Aug 2023US$935.7bUS$473.4bUS$43.5b20.6x21.5x2x
Wed, 12 Jul 2023US$929.6bUS$459.8bUS$40.2b20.9x23.1x2x
Price to Earnings Ratio

23.1x


Total Market Cap: US$929.6bTotal Earnings: US$40.2bTotal Revenue: US$459.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 23.9x202420252026
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 23.9x.
  • The 3-year average PS ratio of 2.4x 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 2.6% 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 Market1.63%
Industrials-0.14%
Machinery-1.83%
Agricultural Machinery0.83%
Industrial Machinery-1.19%
Construction Machinery and Vehicles-3.19%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 20.7x.
    • Analysts are expecting annual earnings growth of 17.3%, which is higher than its past year's earnings decline of 5.1% 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 18.7x.
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
DE DeereUS$621.271.3%
+US$2.2b		19.3%PE35.1x
ITW Illinois Tool WorksUS$272.761.9%
+US$1.5b		5.5%PE25x
SNA Snap-onUS$412.093.8%
+US$776.5m		28.1%PE20.9x
XYL XylemUS$118.121.4%
+US$396.9m		-10.7%PE28.6x
FTV FortiveUS$62.651.9%
+US$356.7m		18.1%PE34.3x

Latest News

CAT
US$963.53
Caterpillar
7D
-3.4%
1Y
142.2%
XYL
US$118.12
Xylem
7D
1.4%
1Y
-10.7%
FSS
US$131.09
Federal Signal
7D
4.6%
1Y
18.3%
FTV
US$62.65
Fortive
7D
1.9%
1Y
18.1%
Narrative Update • Jul 03

FTV: Earnings Momentum And Buybacks Will Shape Future Return Profile

Analysts have raised the Fortive fair value estimate to about $64.36 from $62.19, reflecting a series of incremental price target increases on the stock. They point to supportive demand trends in areas such as power, data centers, aerospace and defense, and infrastructure.
MLI
US$56.50
Mueller Industries
7D
-11.9%
1Y
36.7%
CMI
US$661.70
Cummins
7D
-3.5%
1Y
99.4%
Narrative Update • Jul 02

CMI: Data Center Power And Truck Demand Will Shape Measured Future Returns

The analyst fair value estimate for Cummins has been raised from $643.36 to $748.81. This change reflects higher Street price targets and updated assumptions around revenue growth, profit margins, and future P/E multiples that analysts link to strong demand trends in power, data center, truck, and infrastructure markets.
DE
US$621.27
Deere
7D
1.3%
1Y
19.3%
Narrative Update • Jul 01

DE: Tariff Relief And AI Efficiency Gains Will Support Future Upside

Analysts have trimmed their fair value estimate for Deere to $759 from $793 as they factor in more moderate revenue growth assumptions, even as Street research highlights potential tariff relief and a mixed pattern of price target revisions across the sector. Analyst Commentary Street research on Deere is mixed, but there is a clear camp of bullish analysts highlighting tariff relief, execution on recent quarters, and the potential for a more constructive backdrop in North American agriculture and construction equipment over the next several years.
WTS
US$368.55
Watts Water Technologies
7D
2.6%
1Y
44.4%
PH
US$962.89
Parker-Hannifin
7D
-0.6%
1Y
33.9%
RBC
US$604.56
RBC Bearings
7D
-4.1%
1Y
55.6%
JBTM
US$145.83
JBT Marel
7D
4.7%
1Y
15.3%
SNA
US$412.09
Snap-on
7D
3.8%
1Y
28.1%
NPO
US$335.50
Enpro
7D
-11.5%
1Y
65.0%
Narrative Update • Jun 25

NPO: Elevated Expectations Around 2026 Earnings Guidance Will Constrain Future Returns

Analysts have lifted their price target on Enpro by $35, citing updated assumptions around discount rates, profitability and future P/E expectations that support a higher valuation framework for the stock. What's in the News for Enpro Institutional shareholding in Enpro Inc is reported at 119.13%, with a quarter over quarter change of 15.84%.
WAB
US$262.19
Westinghouse Air Brake Technologies
7D
-2.7%
1Y
22.3%
ITW
US$272.76
Illinois Tool Works
7D
1.9%
1Y
5.5%
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.
DOV
US$213.71
Dover
7D
-5.4%
1Y
13.3%