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U.S. Machinery Industry Analysis

UpdatedJun 12, 2026
DataAggregated Company Financials
Companies192
  • 7D-1.4%
  • 3M9.1%
  • 1Y40.2%
  • YTD16.6%

Over the last 7 days, the Machinery industry has dropped 1.4%, driven by a pullback from Caterpillar of 4.6%. Over the past 12 months, the industry was up 40%. Looking forward, earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Sat, 22 Jul 2023US$943.6bUS$459.8bUS$40.2b20.5x23.5x2.1x
Mon, 19 Jun 2023US$896.1bUS$460.9bUS$40.5b20.1x22.2x1.9x
Price to Earnings Ratio

22.2x


Total Market Cap: US$896.1bTotal 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 33.0x 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 3.0x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have grown 3.5% per year over the last three years.
  • Revenues for these companies have grown 2.0% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Industrials industry?

US Market-2.36%
Industrials-0.96%
Machinery-1.40%
Industrial Machinery1.10%
Construction Machinery and Vehicles-3.00%
Agricultural Machinery-3.68%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 20.3x.
    • Analysts are expecting annual earnings growth of 17.2%, 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 18.3x.
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
PH Parker-HannifinUS$902.373.5%
+US$3.8b		35.3%PE32.7x
ITW Illinois Tool WorksUS$254.451.3%
+US$958.0m		3.4%PE23.4x
CR CraneUS$204.078.3%
+US$907.2m		9.2%PE36.8x
DOV DoverUS$218.532.4%
+US$681.4m		22.2%PE26.8x
ESE ESCO TechnologiesUS$315.928.2%
+US$620.7m		69.4%PE62.1x

Latest News

CAT
US$897.63
Caterpillar
7D
-4.6%
1Y
148.7%
FTV
US$59.84
Fortive
7D
-2.7%
1Y
-15.6%
SYM
US$42.83
Symbotic
7D
-9.7%
1Y
52.9%
CECO
US$96.41
CECO Environmental
7D
18.9%
1Y
245.9%
ITT
US$185.00
ITT
7D
-4.3%
1Y
21.6%
Seeking Alpha • Jun 08

ITT: Share Gains, A Short-Cycle Rebound, And An Accretive Deal Led To Solid Results

Summary ITT Inc. continues to execute well, buoyed by robust short-cycle markets and the accretive SPX FLOW acquisition. Q1 delivered strong organic growth, margin expansion, and raised guidance, with notable outperformance in Flow Technologies and CCT. SPX FLOW acquisition enhances portfolio diversification and margin profile, but near-term capital allocation is constrained by increased leverage. Valuation is demanding, offering modest upside; long-term prospects remain attractive, but ITT stock is a tougher recommendation for new entrants. Read the full article on Seeking Alpha
PH
US$902.37
Parker-Hannifin
7D
3.5%
1Y
35.3%
Narrative Update • Jun 08

PH: Aerospace Acquisition And Dividend Streak Will Support Constructive Long Term View

Analysts have made a slight adjustment to their Parker Hannifin view, trimming the fair value estimate from $1,033.75 to $1,032.50 as small tweaks to discount rate, revenue growth, profit margin and future P/E assumptions offset each other. What's in the News Parker Hannifin agreed to acquire CIRCOR Aerospace from KKR for US$2.55b in cash, adding flight critical motion and flow control systems and related technologies for commercial and defense platforms (source: recent deal announcement).
RBC
US$607.46
RBC Bearings
7D
3.0%
1Y
63.4%
Narrative Update • Jun 07

RBC: Aerospace And Defense Momentum Will Support Steady Long Term Prospects

Analysts now set a fresh price target for RBC Bearings at $616.29, compared with the prior $598.71, citing updated assumptions for discount rate, revenue growth, profit margin, and future P/E that refine their view of the stock's long term potential. What's in the News RBC Bearings reported first quarter fiscal 2026 revenue of US$518 million, up 18.3% year over year, with adjusted EPS of US$3.62, which was a 9% beat versus analyst expectations.
ESE
US$315.92
ESCO Technologies
7D
8.2%
1Y
69.4%
Narrative Update • Jun 07

ESE: New Credit Facilities And Acquisition Will Support Stronger Profitability Profile

Analysts have lifted their price target for ESCO Technologies from $270 to $345. They point to updated assumptions around slightly higher discount rates, a revised revenue growth outlook, a modestly stronger profit margin profile, and a higher future P/E multiple.
ITW
US$254.45
Illinois Tool Works
7D
1.3%
1Y
3.4%
Narrative Update • Jun 07

ITW: 2026 Margin Outlook And Dividend Strength Will Guide Fairly Valued Shares

Narrative Update Overview The analyst price target for Illinois Tool Works is now set around $274.54. This reflects mixed revisions from recent Street research, with some firms cutting targets by $8 to $25 and others raising theirs by $1 to $10, as analysts weigh updated assumptions on discount rates, long-term P/E, and the broader earnings profile for the company.
CNH
US$10.36
CNH Industrial
7D
-4.5%
1Y
-18.9%
Narrative Update • Jun 06

CNH: Tariff Relief And Construction Projects Will Support 2026 Recovery

CNH Industrial's analyst price target has been nudged slightly lower to around $13.31 from about $13.36, as analysts balance modest adjustments to their fair value and P/E assumptions with expectations that lower U.S. agricultural equipment tariffs could offer an incremental earnings tailwind. Analyst Commentary Recent research points to a mixed setup for CNH Industrial, with tariff relief viewed as a modest earnings support, while several firms trim price targets or ratings as they reassess valuation and execution risks.
CMI
US$655.69
Cummins
7D
-3.3%
1Y
101.9%
DE
US$568.64
Deere
7D
-3.9%
1Y
10.0%
CR
US$204.07
Crane
7D
8.3%
1Y
9.2%
Narrative Update • Jun 05

CR: Acquisition Momentum And Margin Strength Will Support Premium Future P/E

Analysts have trimmed their price target on Crane to $235 from $238, citing updated assumptions that combine slightly lower projected revenue growth and P/E with a modestly higher profit margin outlook and discount rate. What's in the News Crane reported Q1 revenue up 24.9% year on year, coming in 3.8% above analyst expectations, with adjusted EPS up 15% in the quarter, according to recent coverage of general industrial machinery stocks Q1 results.
SWK
US$83.13
Stanley Black & Decker
7D
4.8%
1Y
23.3%
Narrative Update • Jun 05

SWK: Future Returns Will Reflect Solid Execution And Balanced Earnings Outlook

Analysts have lifted their price target on Stanley Black & Decker from $65 to $75, pointing to updated assumptions around revenue growth, profit margins, and a higher future P/E multiple as key drivers of the new view. What's in the News Stanley Black & Decker reported Q1 2026 net sales growth of about 3% year over year, with revenue, EPS and EBITDA all coming in ahead of analyst estimates, and management indicating that gross margin and cash flow are tracking with the full year plan.
AGCO
US$111.03
AGCO
7D
-7.4%
1Y
10.0%
Narrative Update • Jun 03

AGCO: Tariff Relief And Mixed Regional Trends Will Likely Cap Future Upside

Analysts have nudged the fair value estimate for AGCO up from $102.00 to $105.00, pointing to updated tariff relief that supports earnings potential for agricultural equipment makers, and also reflecting revised assumptions for discount rate, revenue growth, profit margin, and future P/E. Analyst Commentary Recent Street research around AGCO is mixed, with some analysts highlighting tariff relief as a modest earnings tailwind while others are leaning more cautious on the stock's risk and reward trade off.
DOV
US$218.53
Dover
7D
2.4%
1Y
22.2%
Narrative Update • Jun 01

DOV: Short Cycle Recovery And 2026 Guidance Will Support Upside Reassessment

The updated analyst price target for Dover edges higher from $245.82 to $249.21, with analysts citing refreshed valuation work that includes slightly adjusted revenue growth, profit margin assumptions, and a modestly higher future P/E multiple. Analyst Commentary Recent Street research on Dover shows a clear concentration of target price increases, with several firms adjusting their models to reflect updated assumptions on revenue, margins, and valuation multiples.