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U.S. Machinery Industry Analysis

UpdatedAug 17, 2026
DataAggregated Company Financials
Companies186
  • 7D-0.5%
  • 3M6.4%
  • 1Y37.4%
  • YTD21.0%

In the last week, the Machinery industry is flat overall, with Ingersoll Rand standing out by going down 3.8%. As for the the longer term, the industry is up 37% over the past 12 months. Earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 17 Aug 2026US$1.6tUS$497.2bUS$47.7b27.6x32.9x3.2x
Wed, 15 Jul 2026US$1.6tUS$488.9bUS$44.8b26.7x35x3.2x
Fri, 12 Jun 2026US$1.5tUS$489.5bUS$44.9b26.9x33x3x
Sun, 10 May 2026US$1.5tUS$461.0bUS$43.9b27.3x34.3x3.3x
Tue, 07 Apr 2026US$1.4tUS$451.5bUS$43.6b26.2x31.6x3.1x
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
Price to Earnings Ratio

20.3x


Total Market Cap: US$904.3bTotal Earnings: US$44.5bTotal Revenue: US$475.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 24.4x202420252026
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 32.9x which is higher than its 3-year average PE of 24.4x.
  • The 3-year average PS ratio of 2.4x 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 2.3% 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 Market0.63%
Industrials0.58%
Machinery-0.48%
Construction Machinery and Vehicles0.69%
Industrial Machinery-1.19%
Agricultural Machinery-2.04%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry, which is trading close to its 3-year average PE ratio of 31.2x.
    • Analysts are expecting annual earnings growth of 15.7%, which is higher than its past year's earnings growth of 10.6% per year.
  • Investors are most pessimistic about the Construction Machinery and Vehicles industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 21.3x.
Forecasted Growth
  • Analysts are most optimistic on the Agricultural Machinery industry, expecting annual earnings growth of 18% 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$856.572.3%
+US$8.7b		107.6%PE36.3x
WAB Westinghouse Air Brake TechnologiesUS$299.021.7%
+US$820.9m		57.5%PE39.9x
ITT ITTUS$219.403.5%
+US$668.7m		31.8%PE46.5x
CECO CECO EnvironmentalUS$79.5913.1%
+US$539.4m		70.9%PS5.2x
LECO Lincoln Electric HoldingsUS$286.873.4%
+US$520.0m		20.5%PE28.2x

Latest News

SYM
US$42.70
Symbotic
7D
6.3%
1Y
-18.8%
PH
US$1,055.85
Parker-Hannifin
7D
-0.4%
1Y
43.4%
LECO
US$286.87
Lincoln Electric Holdings
7D
3.4%
1Y
20.5%
Narrative Update • Aug 15

LECO: Automation And Reshoring Tailwinds Will Test Rich Margin Expectations

The analyst price target for Lincoln Electric Holdings has been adjusted modestly higher, reflecting a fair value move from about $238.00 to roughly $242.89. This change is supported by analysts highlighting potential benefits from an emerging industrial growth cycle, automation-driven demand, and more balanced margins after earlier tungsten price pressure.
TKR
US$133.50
Timken
7D
5.5%
1Y
74.1%
Seeking Alpha • Aug 14

The Timken Company's Surge Isn't The End Of The Story

Summary The Timken Company remains a soft "Buy" as management delivers on cost savings, operational improvements, and strategic expansion plans. TKR’s Industrial Motion and Engineered Bearings segments drove H1 2026 revenue and EBITDA growth, with organic and acquisition-fueled gains. Management targets $5–$5.2 billion in revenue and a 21%–23% EBITDA margin by 2028, emphasizing regional expansion, portfolio optimization, and SKU harmonization. Despite recent outperformance, TKR trades at a discount to peers; multiple expansion or meeting growth targets could yield significant upside. Read the full article on Seeking Alpha
CMI
US$631.26
Cummins
7D
-0.6%
1Y
57.0%
MIDD
US$117.91
Middleby
7D
-12.3%
1Y
-11.1%
IEX
US$238.94
IDEX
7D
1.9%
1Y
45.0%
Narrative Update • Aug 14

IEX: Strong Buy Ratings And Ongoing Buybacks Will Support Future Returns

Analysts have increased their price target for IDEX to $254.50 from $248, reflecting updated assumptions for revenue growth, profit margins and a slightly different discount rate, while leaving long term P/E expectations broadly unchanged. What’s in the News for IDEX Analysts at RBC Capital have kept a Buy rating on IDEX Corporation and set a price target of US$280, according to recent research coverage.
DOV
US$207.07
Dover
7D
-1.4%
1Y
16.9%
MLI
US$65.90
Mueller Industries
7D
-4.4%
1Y
43.2%
ITW
US$290.81
Illinois Tool Works
7D
-1.3%
1Y
12.2%
CECO
US$79.59
CECO Environmental
7D
13.1%
1Y
70.9%
Seeking Alpha • Aug 12

CECO Environmental Delivers As Promised, Remains A 'Strong Buy'

Summary CECO Environmental is reaffirmed as a 'Strong Buy' with a raised price target of $95, driven by transformative growth and the Thermon merger. Q2 results delivered 54% YOY revenue growth, 73% adjusted EBITDA growth, and a 164% increase in backlog, far exceeding prior synergy expectations. CECO’s expanded portfolio addresses secular tailwinds in AI data centers, electrification, and industrial reshoring, supporting ongoing double-digit top-line growth. Risks include potential slowdowns in AI data center demand and typical small-cap volatility, but CECO’s diversification and synergy execution mitigate these concerns. Read the full article on Seeking Alpha
CAT
US$856.57
Caterpillar
7D
2.3%
1Y
107.6%
ESAB
US$84.81
ESAB
7D
-7.7%
1Y
-23.1%
Narrative Update • Aug 12

ESAB: Eddyfi Acquisition And Industrial Cycle Upside Will Support Higher Earnings Quality

Analysts have adjusted their blended price target and implied fair value for ESAB slightly lower to $131.18 from $135.40. This change reflects updated assumptions for discount rate, revenue growth, profit margins, and future P/E after incorporating recent research around the Eddyfi acquisition and industrial demand outlook.
WAB
US$299.02
Westinghouse Air Brake Technologies
7D
1.7%
1Y
57.5%
ITT
US$219.40
ITT
7D
3.5%
1Y
31.8%
Seeking Alpha • Aug 11

ITT: A Solid Performer Is Valued Accordingly

Summary ITT completed the $4.8 billion SPX Flow acquisition, boosting sales by a third and enhancing its engineered equipment portfolio. Pro forma sales are projected at $5.2 billion, with EBITDA potentially reaching $1.1 billion and net debt at $3.25 billion, below initial guidance. ITT guides for adjusted EPS of $7.75–$8.00 in 2024, reflecting strong momentum and organic growth of 4–6%. Recent bolt-on acquisition of Aerospace Contacts LLC demonstrates ongoing strategic expansion and confidence in operational leverage. Read the full article on Seeking Alpha
IR
US$83.34
Ingersoll Rand
7D
-3.8%
1Y
5.6%