Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Machinery Industry Analysis

UpdatedJun 05, 2026
DataAggregated Company Financials
Companies192
  • 7D-3.7%
  • 3M-3.1%
  • 1Y11.7%
  • YTD9.1%

Over the last 7 days, the Machinery industry has dropped 3.7%, driven by pullbacks in Otis Worldwide and JBT Marel of 1.9% and 7.2%, respectively. On the other hand Caterpillar is actually up 5.9%. This takes the industry's 12 month performance to a gain of 12%. As for the next few years, earnings are expected to grow by 5.2% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 05 Jun 2026US$1.5tUS$462.2bUS$43.5b26.8x34.5x3.2x
Sun, 03 May 2026US$1.5tUS$456.5bUS$44.3b27.5x33.7x3.3x
Tue, 31 Mar 2026US$1.3tUS$451.5bUS$43.6b25.3x30.8x3x
Thu, 26 Feb 2026US$1.5tUS$450.6bUS$42.7b29.6x35.6x3.4x
Sat, 24 Jan 2026US$1.4tUS$450.6bUS$43.7b27.1x31.6x3.1x
Mon, 22 Dec 2025US$1.3tUS$450.8bUS$43.7b25.3x28.8x2.8x
Wed, 19 Nov 2025US$1.2tUS$449.4bUS$43.8b23.2x27.2x2.6x
Fri, 17 Oct 2025US$1.2tUS$446.9bUS$44.9b24.1x26.4x2.6x
Sun, 14 Sep 2025US$1.1tUS$447.0bUS$44.2b24x25.7x2.5x
Tue, 12 Aug 2025US$1.1tUS$448.1bUS$44.3b23.2x25.3x2.5x
Thu, 10 Jul 2025US$1.1tUS$449.5bUS$44.6b23.7x24.8x2.5x
Sat, 07 Jun 2025US$1.0tUS$449.1bUS$44.5b23.3x23.5x2.3x
Mon, 05 May 2025US$990.2bUS$451.6bUS$46.6b21.8x21.2x2.2x
Wed, 02 Apr 2025US$996.6bUS$457.3bUS$48.2b20.8x20.7x2.2x
Fri, 28 Feb 2025US$1.1tUS$458.2bUS$48.0b22x22.2x2.3x
Sun, 26 Jan 2025US$1.1tUS$467.3bUS$47.9b23.9x23.3x2.4x
Tue, 24 Dec 2024US$1.1tUS$467.6bUS$47.9b22.6x22x2.3x
Thu, 21 Nov 2024US$1.1tUS$471.7bUS$49.0b23.8x22.4x2.3x
Sat, 19 Oct 2024US$1.1tUS$474.2bUS$49.4b21.9x21.8x2.3x
Mon, 16 Sep 2024US$991.3bUS$474.2bUS$49.4b21x20.1x2.1x
Wed, 14 Aug 2024US$944.6bUS$476.7bUS$50.2b21.1x18.8x2x
Fri, 12 Jul 2024US$954.4bUS$476.7bUS$51.6b20.8x18.5x2x
Sun, 09 Jun 2024US$967.0bUS$477.0bUS$51.3b22x18.9x2x
Tue, 07 May 2024US$1.0tUS$479.1bUS$51.7b22.8x19.5x2.1x
Thu, 04 Apr 2024US$1.1tUS$478.4bUS$48.1b23.4x22.1x2.2x
Sat, 02 Mar 2024US$996.7bUS$477.3bUS$47.3b24.6x21.1x2.1x
Mon, 29 Jan 2024US$962.4bUS$486.4bUS$48.3b22.8x19.9x2x
Wed, 27 Dec 2023US$964.5bUS$484.9bUS$47.8b23x20.2x2x
Fri, 24 Nov 2023US$877.0bUS$484.2bUS$47.5b20.3x18.5x1.8x
Sun, 22 Oct 2023US$834.7bUS$475.2bUS$44.4b19x18.8x1.8x
Tue, 19 Sep 2023US$898.2bUS$475.0bUS$44.4b20.7x20.2x1.9x
Thu, 17 Aug 2023US$912.4bUS$473.4bUS$43.4b20.3x21x1.9x
Sat, 15 Jul 2023US$929.6bUS$459.8bUS$40.2b20.7x23.1x2x
Mon, 12 Jun 2023US$857.8bUS$460.9bUS$40.5b19.8x21.2x1.9x
Price to Earnings Ratio

21.2x


Total Market Cap: US$857.8bTotal Earnings: US$40.5bTotal Revenue: US$460.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 23.6x202420252026
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 23.6x.
  • The 3-year average PS ratio of 2.3x 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 2.4% 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-0.11%
Industrials-2.16%
Machinery-3.69%
Agricultural Machinery8.39%
Industrial Machinery1.01%
Construction Machinery and Vehicles-4.40%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 20.2x.
    • Analysts are expecting annual earnings growth of 3.9%, 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 18.2x.
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 Construction Machinery and Vehicles industry is expected to see its earnings grow by 3.9% 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$940.485.9%
+US$24.3b		169.5%PE45.9x
DE DeereUS$591.759.8%
+US$14.2b		15.9%PE33.4x
PCAR PACCARUS$118.075.2%
+US$3.1b		27.7%PE25.1x
PH Parker-HannifinUS$872.232.3%
+US$2.4b		31.8%PE31.6x
CMI CumminsUS$678.101.4%
+US$1.3b		109.9%PE35x

Latest News

CAT
US$940.48
Caterpillar
7D
5.9%
1Y
169.5%
Seeking Alpha • 8h

Caterpillar Setting The Pace For Growth In Power And Energy

Summary Caterpillar is well-positioned for durable growth, driven by surging demand in data center construction and power infrastructure. CAT is expanding engine and turbine capacity by 3x and 2.5x by 2030, targeting margin-accretive recurring revenue from primary and standby power solutions. I recommend CAT at a Buy rating with a $1,145/share price target, reflecting strong industry tailwinds and robust financial forecasts. Read the full article on Seeking Alpha
ESAB
US$88.31
ESAB
7D
-5.1%
1Y
-29.7%
Seeking Alpha • 14h

ESAB Corporation: An Upgrade Is Becoming A Real Possibility

Summary ESAB Corporation remains rated 'hold' despite a 21% stock decline and ongoing revenue growth driven by acquisitions. Management projects 2026 sales growth of 6–9%, with 4% from acquisitions and 2–4% organic, despite recent organic revenue weakness. Profitability is mixed: Q1 2026 net profit fell to $47.6M, but EBITDA rose to $136.6M and full-year EBITDA is guided to $575–595M. ESAB trades at the cheaper end of peers, but valuation is not yet compelling enough for a bullish upgrade; a further 10% price drop could change this. Read the full article on Seeking Alpha
ESE
US$291.96
ESCO Technologies
7D
-4.2%
1Y
61.4%
PH
US$872.23
Parker-Hannifin
7D
2.3%
1Y
31.8%
CMI
US$678.10
Cummins
7D
1.4%
1Y
109.9%
Narrative Update • Jun 03

CMI: Data Center Power Demand Will Sustain Earnings Beyond Next Truck Cycle Trough

Analysts have lifted the Cummins fair value estimate from $703 to $845, supported by higher price targets on the stock that cite benefits from fuel cost differentials, tighter environmental rules, and long term demand from truck and machinery manufacturers. Analyst Commentary Bullish analysts have been lifting their Cummins price targets, with several recent reports pointing to structural drivers that they see as supportive for the company over time.
DE
US$591.75
Deere
7D
9.8%
1Y
15.9%
Narrative Update • Jun 03

DE: Tariff Relief And Construction Strength Will Balance Large Ag Uncertainty

Analysts now see fair value for Deere at about $643, down from roughly $665. This reflects a mix of slightly higher discount rate assumptions, stronger projected revenue growth and margins, and a lower future P/E, alongside recent shifts in price targets and tariff related earnings commentary.
PCAR
US$118.07
PACCAR
7D
5.2%
1Y
27.7%
MLI
US$132.58
Mueller Industries
7D
3.6%
1Y
71.7%
JBTM
US$125.21
JBT Marel
7D
-7.2%
1Y
3.9%
Narrative Update • Jun 02

JBTM: Food Processing Execution Risk Will Limit Share Repurchase Upside

Analysts have trimmed their average price target on JBT Marel to $165 from $190, reflecting a lower comparable group multiple, even as they highlight the company’s growing role in food processing and its mix of secular growth, high margin recurring revenues, and strong free cash flow generation. Analyst Commentary Recent research highlights a split view on JBT Marel.
GGG
US$74.31
Graco
7D
-2.0%
1Y
-11.5%
OTIS
US$69.85
Otis Worldwide
7D
-1.9%
1Y
-26.7%
FSS
US$107.91
Federal Signal
7D
-4.8%
1Y
8.6%
Narrative Update • May 29

FSS: Nationwide Dealer Network Expansion Will Support Regional Acquisitions And Share Gains

Analysts have nudged their price expectations for Federal Signal higher, with the fair value estimate moving from $138 to about $142, supported by recent research that points to benefits from the company’s nationwide dealer network and acquisitions of regional specialty vehicle manufacturers. Analyst Commentary Bullish Takeaways Bullish analysts point to the nationwide dealer channel as a key support for the higher fair value estimate, seeing it as a way to push acquired regional specialty vehicle manufacturers into more markets and support revenue growth assumptions.
KAI
US$303.89
Kadant
7D
-5.9%
1Y
-6.1%
FTV
US$61.47
Fortive
7D
3.9%
1Y
-14.3%
VELO
US$18.83
Velo3D
7D
-26.8%
1Y
118.3%
SPXC
US$236.14
SPX Technologies
7D
10.4%
1Y
51.1%
Narrative Update • May 04

SPXC: Capacity Expansion And Data Center Demand Will Support Future Upside

Analysts have modestly lifted the SPX Technologies fair value estimate by about $6 to roughly $264 per share. The update reflects revised views that factor in stronger revenue growth, slightly higher profit margins, and a lower assumed future P/E multiple following a series of recent price target hikes and upgrades across the Street.