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U.S. Machinery Industry Analysis

UpdatedFeb 12, 2026
DataAggregated Company Financials
Companies189
  • 7D5.5%
  • 3M25.2%
  • 1Y41.2%
  • YTD19.0%

The Machinery industry is up 5.5% in the last week, with Caterpillar up 12%. During this same period, the Xylem underperformed, falling 9.3%. This takes the industry's 12 month performance to a gain of 41%. 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
Thu, 12 Feb 2026US$1.5tUS$447.0bUS$42.8b29.8x34.8x3.3x
Sat, 10 Jan 2026US$1.3tUS$450.7bUS$43.7b26.3x30.3x2.9x
Mon, 08 Dec 2025US$1.3tUS$450.7bUS$43.7b25.5x29x2.8x
Wed, 05 Nov 2025US$1.2tUS$448.5bUS$44.7b23.5x27.2x2.7x
Fri, 03 Oct 2025US$1.2tUS$447.0bUS$44.2b24.3x26.2x2.6x
Sun, 31 Aug 2025US$1.1tUS$447.0bUS$44.2b24.1x25.6x2.5x
Tue, 29 Jul 2025US$1.1tUS$448.7bUS$44.3b23.6x25.9x2.6x
Thu, 26 Jun 2025US$1.1tUS$449.2bUS$44.6b22.8x23.9x2.4x
Sat, 24 May 2025US$1.0tUS$449.1bUS$44.6b23.1x23.3x2.3x
Mon, 21 Apr 2025US$915.8bUS$457.0bUS$48.6b19.4x18.8x2x
Wed, 19 Mar 2025US$1.0tUS$457.3bUS$47.9b21.4x21.5x2.3x
Fri, 14 Feb 2025US$1.1tUS$458.1bUS$48.0b24x22.6x2.4x
Sun, 12 Jan 2025US$1.0tUS$463.7bUS$47.7b22.9x21.5x2.2x
Tue, 10 Dec 2024US$1.1tUS$467.6bUS$47.8b25.1x23.6x2.4x
Thu, 07 Nov 2024US$1.1tUS$472.9bUS$49.2b25.3x21.8x2.3x
Sat, 05 Oct 2024US$1.1tUS$474.2bUS$49.4b21.9x21.3x2.2x
Mon, 02 Sep 2024US$1.0tUS$474.2bUS$49.3b21.5x20.5x2.1x
Wed, 31 Jul 2024US$1.0tUS$477.3bUS$51.7b22.1x19.5x2.1x
Fri, 28 Jun 2024US$957.8bUS$476.9bUS$51.6b21.4x18.6x2x
Sun, 26 May 2024US$1.0tUS$477.0bUS$51.3b22x19.7x2.1x
Tue, 23 Apr 2024US$1.0tUS$478.1bUS$48.2b22.8x21x2.1x
Thu, 21 Mar 2024US$1.0tUS$476.8bUS$48.0b23.2x21.5x2.2x
Sat, 17 Feb 2024US$985.8bUS$476.6bUS$47.4b22.9x20.8x2.1x
Mon, 15 Jan 2024US$939.8bUS$485.5bUS$47.8b22.2x19.7x1.9x
Wed, 13 Dec 2023US$907.5bUS$485.1bUS$47.8b21.6x19x1.9x
Fri, 10 Nov 2023US$835.9bUS$484.4bUS$47.1b19.6x17.7x1.7x
Sun, 08 Oct 2023US$864.3bUS$475.1bUS$44.4b19.6x19.5x1.8x
Tue, 05 Sep 2023US$935.5bUS$475.1bUS$44.5b20.8x21x2x
Thu, 03 Aug 2023US$960.4bUS$469.0bUS$42.7b20.8x22.5x2x
Sat, 01 Jul 2023US$906.9bUS$459.8bUS$40.2b20.6x22.6x2x
Mon, 29 May 2023US$802.7bUS$460.8bUS$40.4b18x19.9x1.7x
Wed, 26 Apr 2023US$813.1bUS$444.7bUS$38.3b19.6x21.2x1.8x
Fri, 24 Mar 2023US$805.5bUS$442.9bUS$38.1b21.2x21.2x1.8x
Sun, 19 Feb 2023US$883.6bUS$441.5bUS$38.2b23.7x23.2x2x
Price to Earnings Ratio

23.2x


Total Market Cap: US$883.6bTotal Earnings: US$38.2bTotal Revenue: US$441.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 22.3x202420252026
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 34.8x which is higher than its 3-year average PE of 22.3x.
  • 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 3.9% 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 Market1.43%
Industrials3.31%
Machinery5.53%
Agricultural Machinery7.90%
Construction Machinery and Vehicles7.56%
Industrial Machinery3.22%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 30.7x.
    • Analysts are expecting annual earnings growth of 16.4%, which is higher than its past year's earnings growth of 3.7% 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 16.5x.
Forecasted Growth
  • Analysts are most optimistic on the Industrial Machinery industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings growth rate of 3.7% per year.
  • In contrast, the Agricultural Machinery industry is expected to see its earnings grow by 14% 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$758.2911.8%
+US$37.4b		114.4%PE39.9x
DE DeereUS$598.115.7%
+US$8.8b		28.3%PE32.3x
CMI CumminsUS$588.798.9%
+US$6.7b		59.4%PE28.6x
ITW Illinois Tool WorksUS$298.513.5%
+US$3.0b		14.8%PE28.2x
WAB Westinghouse Air Brake TechnologiesUS$253.795.7%
+US$2.3b		29.2%PE36.9x

Latest News

XYL
US$126.10
Xylem
7D
-9.4%
1Y
-3.8%
CMI
US$588.79
Cummins
7D
8.9%
1Y
59.4%
IR
US$94.21
Ingersoll Rand
7D
-1.9%
1Y
1.8%
WAB
US$253.79
Westinghouse Air Brake Technologies
7D
5.7%
1Y
29.2%
CAT
US$758.29
Caterpillar
7D
11.8%
1Y
114.4%
VHUB
US$2.62
VenHub Global
7D
-59.3%
1Y
n/a
IEX
US$205.14
IDEX
7D
-3.7%
1Y
6.3%
HLMN
US$10.30
Hillman Solutions
7D
-4.1%
1Y
2.5%

HLMN: Steady Outlook And Refined Assumptions Will Support Measured Future Returns

Analysts have slightly adjusted their fair value view on Hillman Solutions to $10.00, reflecting modest tweaks to the discount rate, revenue growth, profit margin assumptions and a future P/E of about 27.5x that together support a largely unchanged price target rationale. Valuation Changes Fair Value: Modelled fair value remains unchanged at $10.00 per share.
ITT
US$199.11
ITT
7D
-1.5%
1Y
34.6%
DOV
US$230.57
Dover
7D
6.0%
1Y
13.8%

DOV: AI Demand And Margin Execution Will Shape Fairly Valued Shares

The updated analyst price target for Dover edges up by about US$5 to roughly US$226, with analysts pointing to a cluster of recent target hikes, expectations for margin expansion, and exposure to higher growth end markets as key supports for the change. Analyst Commentary Recent research points to a broadly constructive tone around Dover, with a string of price target increases and at least one explicit 90 day positive catalyst watch.
PCAR
US$124.84
PACCAR
7D
-2.0%
1Y
18.6%

PCAR: Future Returns Will Hinge On Truck Demand And Emerging Emissions Rules

The analyst price target for PACCAR has shifted from about $111.44 to $122.15, with analysts pointing to updated assumptions for revenue growth, profit margins and future P/E multiples that are consistent with a series of recent price target increases across major research firms. Analyst Commentary Recent research updates on PACCAR cluster around higher price targets and a view that the shares are closer to fairly valued than deeply mispriced.
AGCO
US$138.93
AGCO
7D
11.7%
1Y
47.6%
PH
US$982.21
Parker-Hannifin
7D
1.5%
1Y
41.6%

PH: Higher Fair Value Will Rely On Sustained Buybacks And Margin Execution

Analysts have lifted their price target on Parker Hannifin from $849 to $1,139, citing updated assumptions for revenue growth, profitability, and future P/E that feed into a higher fair value estimate and a slightly adjusted discount rate. What's in the News Parker-Hannifin updated its share repurchase activity for the period from October 1, 2025 to December 31, 2025, buying back 92,199 shares, or 0.07%, for $75m under its ongoing program (Key Developments).
ITW
US$298.51
Illinois Tool Works
7D
3.5%
1Y
14.8%
FTV
US$56.00
Fortive
7D
-7.0%
1Y
-31.4%

FTV: JPMorgan Downgrade And Buybacks Will Shape A Measured Return Profile

Analysts have trimmed their price target on Fortive to US$58.13, citing a slightly lower discount rate, modestly softer revenue expectations and a higher assumed profit margin supported by a reduced future P/E multiple. Analyst Commentary Recent commentary around the new US$58.13 price target reflects a mixed view on Fortive, with the latest JPMorgan downgrade underlining both execution opportunities and areas of concern for valuation and growth.
DE
US$598.11
Deere
7D
5.7%
1Y
28.3%