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U.S. Machinery Industry Analysis

UpdatedMar 11, 2026
DataAggregated Company Financials
Companies185
  • 7D-3.4%
  • 3M9.9%
  • 1Y38.4%
  • YTD10.7%

Over the last 7 days, the Machinery industry has dropped 3.4%, driven by a pullback from Deere of 4.3%. On the other hand 3D Systems is actually up 21%. In the past year, the industry has gained 38%. Looking forward, earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Mar 2026US$1.4tUS$449.8bUS$43.2b27x32.4x3.1x
Fri, 06 Feb 2026US$1.4tUS$449.2bUS$42.5b27.9x33.8x3.2x
Sun, 04 Jan 2026US$1.3tUS$450.9bUS$43.7b25.1x29.2x2.8x
Tue, 02 Dec 2025US$1.3tUS$450.7bUS$43.7b24.5x28.7x2.8x
Thu, 30 Oct 2025US$1.2tUS$446.0bUS$44.4b24.6x26.9x2.7x
Sat, 27 Sep 2025US$1.1tUS$447.0bUS$44.2b24.1x25.8x2.5x
Mon, 25 Aug 2025US$1.2tUS$446.9bUS$44.2b24.3x26.1x2.6x
Wed, 23 Jul 2025US$1.1tUS$448.5bUS$44.3b22.9x25x2.5x
Fri, 20 Jun 2025US$1.0tUS$449.2bUS$44.5b23x23.5x2.3x
Sun, 18 May 2025US$1.1tUS$449.1bUS$44.6b24.2x24.1x2.4x
Tue, 15 Apr 2025US$926.7bUS$457.0bUS$48.6b19.8x19.1x2x
Thu, 13 Mar 2025US$1.0tUS$457.8bUS$47.8b21.1x21.5x2.2x
Sat, 08 Feb 2025US$1.1tUS$461.6bUS$48.9b23x22.5x2.4x
Mon, 06 Jan 2025US$1.0tUS$467.3bUS$47.9b23x21.9x2.2x
Wed, 04 Dec 2024US$1.1tUS$467.7bUS$47.8b25x24x2.5x
Fri, 01 Nov 2024US$1.0tUS$473.5bUS$49.1b22.6x21.3x2.2x
Sun, 29 Sep 2024US$1.1tUS$474.2bUS$49.4b22.3x21.5x2.2x
Tue, 27 Aug 2024US$1.0tUS$474.2bUS$49.3b21.8x20.3x2.1x
Thu, 25 Jul 2024US$1.0tUS$476.7bUS$51.6b20.8x19.5x2.1x
Sat, 22 Jun 2024US$971.9bUS$476.9bUS$51.6b21.6x18.8x2x
Mon, 20 May 2024US$1.0tUS$477.4bUS$51.3b22.1x20.1x2.2x
Wed, 17 Apr 2024US$1.0tUS$478.1bUS$48.1b23.1x21.4x2.2x
Fri, 15 Mar 2024US$1.0tUS$477.2bUS$47.5b23.1x21.4x2.1x
Sun, 11 Feb 2024US$978.0bUS$476.7bUS$47.3b22.5x20.7x2.1x
Tue, 09 Jan 2024US$941.1bUS$485.5bUS$47.8b22x19.7x1.9x
Thu, 07 Dec 2023US$899.1bUS$483.9bUS$47.8b21x18.8x1.9x
Sat, 04 Nov 2023US$853.3bUS$484.2bUS$46.8b19.7x18.2x1.8x
Mon, 02 Oct 2023US$869.5bUS$475.1bUS$44.4b20.1x19.6x1.8x
Wed, 30 Aug 2023US$920.9bUS$475.1bUS$44.5b20.5x20.7x1.9x
Fri, 28 Jul 2023US$936.8bUS$463.1bUS$40.8b20.6x22.9x2x
Sun, 25 Jun 2023US$871.0bUS$460.9bUS$40.5b19.8x21.5x1.9x
Tue, 23 May 2023US$810.1bUS$460.8bUS$40.4b18.5x20x1.8x
Thu, 20 Apr 2023US$824.5bUS$444.6bUS$38.3b20x21.5x1.9x
Sat, 18 Mar 2023US$787.5bUS$442.8bUS$38.0b21x20.7x1.8x
Price to Earnings Ratio

20.7x


Total Market Cap: US$787.5bTotal Earnings: US$38.0bTotal Revenue: US$442.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 22.6x202420252026
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 32.4x which is higher than its 3-year average PE of 22.6x.
  • The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 3.1x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have grown 4.3% 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-0.62%
Industrials-3.13%
Machinery-3.42%
Construction Machinery and Vehicles-1.72%
Industrial Machinery-4.48%
Agricultural Machinery-4.63%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry, which is trading close to its 3-year average PE ratio of 30.8x.
    • Analysts are expecting annual earnings growth of 14.8%, which is higher than its past year's earnings growth of 5.3% 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 16.9x.
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 19% 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
DDD 3D SystemsUS$2.4520.7%
+US$61.4m		-11.2%PE12x
HLMN Hillman SolutionsUS$8.232.6%
+US$41.3m		-12.2%PE40.1x
ERII Energy RecoveryUS$10.876.4%
+US$34.3m		-34.3%PE25x
GHM GrahamUS$86.983.6%
+US$33.1m		178.7%PE64.5x
PDYN Palladyne AIUS$7.554.6%
+US$28.2m		23.1%PE35x

Latest News

DDD
US$2.45
3D Systems
7D
20.7%
1Y
-11.2%
TNC
US$63.13
Tennant
7D
1.8%
1Y
-25.9%
OTIS
US$86.09
Otis Worldwide
7D
-6.8%
1Y
-14.9%
ERII
US$10.87
Energy Recovery
7D
6.4%
1Y
-34.3%
SXI
US$260.72
Standex International
7D
0.7%
1Y
38.3%
DOV
US$210.26
Dover
7D
-4.8%
1Y
16.3%

DOV: AI Demand And 2026 Guidance Will Shape Balanced Risk Reward Outlook

Our analyst price target for Dover has been raised by about $5 to $231. This reflects Street research that points to better organic growth prospects, potential margin expansion, and what analysts view as underappreciated exposure to higher growth end markets.
CAT
US$716.68
Caterpillar
7D
-0.8%
1Y
110.9%
DE
US$592.72
Deere
7D
-4.3%
1Y
24.7%

DE: Construction Strength And Large Ag Recovery Will Support Future Earnings Momentum

We are nudging our fair value estimate for Deere up from $630 to about $666 per share, reflecting analysts' higher price targets following a strong Q1 beat, healthier Large Ag order trends, and better support from Construction and Small Ag/Turf, even as views differ on how much of the next cycle is already priced in. Analyst Commentary Street research after Deere's Q1 report reflects a mix of enthusiasm about execution and caution around how much optimism is already embedded in the share price.
WAB
US$246.75
Westinghouse Air Brake Technologies
7D
-5.4%
1Y
40.3%
ZJK
US$1.95
ZJK Industrial
7D
28.5%
1Y
-55.6%
PH
US$950.39
Parker-Hannifin
7D
-3.9%
1Y
55.5%

PH: Updated Guidance And Share Repurchases Will Support A Measured Outlook

Analysts have nudged their price target for Parker Hannifin higher to around $1,031 from about $1,018, reflecting updated assumptions that include a slightly lower discount rate, a more conservative revenue growth outlook, a higher profit margin, and a modestly higher future P/E multiple. What's in the News Parker-Hannifin updated its earnings guidance for the fiscal year ending June 30, 2026, with reported sales growth now framed in a range of 5.5% to 7.5% and organic sales growth around 5% at the midpoint, along with contributions from acquisitions, divestitures, and favorable currency effects (Key Developments).
PDYN
US$7.55
Palladyne AI
7D
4.6%
1Y
23.1%
IR
US$86.42
Ingersoll Rand
7D
-5.6%
1Y
4.3%

IR: Share Buybacks And Margin Assumptions Will Support Stronger Forward Returns

Analysts have maintained their $117 price target for Ingersoll Rand, citing slightly revised assumptions for the discount rate, revenue growth, profit margin, and future P/E as the main factors supporting this unchanged view. What's in the News The company completed its share repurchase program announced on September 1, 2021, buying a total of 24,918,948 shares, or 6.19% of shares outstanding, for US$1,765.13m.
ITW
US$273.29
Illinois Tool Works
7D
-4.4%
1Y
7.2%

ITW: 2026 Guidance And Earnings Delivery Will Shape Fairly Balanced Outlook

The analyst price target for Illinois Tool Works has increased by $2.69, reflecting modest updates to fair value, discount rate, revenue growth, profit margin, and future P/E based on recent price target revisions from major firms. Analyst Commentary Recent research updates on Illinois Tool Works show a cluster of higher price targets from multiple firms, alongside at least one short term cautious call.
HLMN
US$8.23
Hillman Solutions
7D
2.6%
1Y
-12.2%

HLMN: Conservative Guidance And Pullback Will Set Up Earnings Rebound Potential

Analysts have trimmed their price target on Hillman Solutions to $14 from $15, citing slightly lower consensus revenue and EBITDA estimates, along with what they view as conservative guidance following mixed but solid Q4 results. Analyst Commentary Bullish analysts are generally framing the post earnings pullback as a reaction to cautious guidance and small adjustments to estimates, rather than a shift in their longer term view on Hillman Solutions.
GHM
US$86.98
Graham
7D
3.6%
1Y
178.7%

GHM: Stable Fair Value Will Reflect Revised Guidance And Execution Debates

Analysts have kept their average price target for Graham steady at $88.25. This reflects only marginal tweaks to their discount rate and long term assumptions about growth, margins and future P/E, rather than a change in overall conviction.