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U.S. Machinery Industry Analysis

UpdatedMay 20, 2026
DataAggregated Company Financials
Companies193
  • 7D-5.1%
  • 3M-4.5%
  • 1Y34.5%
  • YTD12.0%

Over the last 7 days, the Machinery industry has dropped 5.1%, driven by Caterpillar declining 3.3%. In the past year, the industry has gained 35%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 21 May 2026US$1.4tUS$461.2bUS$43.7b26.3x32.6x3.1x
Sat, 18 Apr 2026US$1.5tUS$456.3bUS$43.7b27.6x33.9x3.2x
Mon, 16 Mar 2026US$1.4tUS$451.5bUS$43.3b26.3x31.4x3x
Wed, 11 Feb 2026US$1.5tUS$447.0bUS$42.8b29.7x34.7x3.3x
Fri, 09 Jan 2026US$1.3tUS$450.9bUS$43.7b26.3x29.6x2.9x
Sun, 07 Dec 2025US$1.3tUS$450.7bUS$43.7b25.5x29x2.8x
Tue, 04 Nov 2025US$1.2tUS$447.9bUS$44.7b23.9x27.3x2.7x
Thu, 02 Oct 2025US$1.2tUS$447.0bUS$44.2b24.1x26.2x2.6x
Sat, 30 Aug 2025US$1.2tUS$447.0bUS$44.2b24.1x26.1x2.6x
Mon, 28 Jul 2025US$1.1tUS$448.7bUS$44.3b23.5x25.9x2.6x
Wed, 25 Jun 2025US$1.1tUS$449.2bUS$44.5b23x23.9x2.4x
Fri, 23 May 2025US$1.0tUS$449.1bUS$44.6b23.2x23.3x2.3x
Sun, 20 Apr 2025US$915.8bUS$457.0bUS$48.6b19.4x18.8x2x
Tue, 18 Mar 2025US$1.0tUS$457.3bUS$47.9b21.6x21.3x2.2x
Thu, 13 Feb 2025US$1.1tUS$461.8bUS$48.8b22.8x22.5x2.4x
Sat, 11 Jan 2025US$1.0tUS$467.4bUS$47.9b21.9x21.8x2.2x
Mon, 09 Dec 2024US$1.1tUS$467.7bUS$47.8b24.8x23.6x2.4x
Wed, 06 Nov 2024US$1.1tUS$472.9bUS$49.2b23.8x21.4x2.2x
Fri, 04 Oct 2024US$1.1tUS$474.2bUS$49.4b22x21.4x2.2x
Sun, 01 Sep 2024US$1.0tUS$474.2bUS$49.3b21.5x20.5x2.1x
Tue, 30 Jul 2024US$1.0tUS$477.0bUS$51.6b21.7x19.7x2.1x
Thu, 27 Jun 2024US$958.1bUS$476.9bUS$51.6b21.3x18.6x2x
Sat, 25 May 2024US$1.0tUS$477.0bUS$51.3b22x19.7x2.1x
Mon, 22 Apr 2024US$1.0tUS$478.1bUS$48.2b22.8x21x2.1x
Wed, 20 Mar 2024US$1.0tUS$476.8bUS$48.0b23.2x21.5x2.2x
Fri, 16 Feb 2024US$980.8bUS$476.8bUS$47.5b23x20.6x2.1x
Sun, 14 Jan 2024US$940.0bUS$485.5bUS$47.8b22.2x19.7x1.9x
Tue, 12 Dec 2023US$907.4bUS$483.9bUS$47.8b21.4x19x1.9x
Thu, 09 Nov 2023US$836.8bUS$484.3bUS$47.0b19.4x17.8x1.7x
Sat, 07 Oct 2023US$864.3bUS$475.1bUS$44.4b19.6x19.5x1.8x
Mon, 04 Sep 2023US$935.5bUS$475.1bUS$44.5b20.8x21x2x
Wed, 02 Aug 2023US$974.5bUS$468.8bUS$42.6b21x22.9x2.1x
Fri, 30 Jun 2023US$899.1bUS$461.1bUS$40.5b20.2x22.2x1.9x
Sun, 28 May 2023US$802.7bUS$460.8bUS$40.4b18x19.9x1.7x
Price to Earnings Ratio

19.9x


Total Market Cap: US$802.7bTotal Earnings: US$40.4bTotal Revenue: US$460.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 23.4x202420252026
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 33.1x which is higher than its 3-year average PE of 23.4x.
  • The 3-year average PS ratio of 2.3x 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 2.6% 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-1.01%
Industrials-3.52%
Machinery-5.06%
Industrial Machinery-4.26%
Agricultural Machinery-5.21%
Construction Machinery and Vehicles-5.76%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 19.9x.
    • Analysts are expecting annual earnings growth of 16.8%, 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 18.0x.
Forecasted Growth
  • Analysts are most optimistic on the Construction Machinery and Vehicles industry, expecting annual earnings growth of 17% over the next 5 years.
  • This is better than its past earnings decline of 5.5% 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
FLS FlowserveUS$68.282.7%
+US$232.6m		38.0%PE24.6x
ITW Illinois Tool WorksUS$250.770.3%
+US$192.8m		2.5%PE23x
JBTM JBT MarelUS$128.712.9%
+US$186.9m		12.8%PE39.8x
HLIO Helios TechnologiesUS$79.165.3%
+US$132.2m		157.0%PE43x
AEBI Aebi Schmidt HoldingUS$12.2613.8%
+US$116.2m		n/aPE113.7x

Latest News

CMI
US$669.87
Cummins
7D
-5.6%
1Y
107.3%
CAT
US$872.56
Caterpillar
7D
-3.3%
1Y
154.8%
Narrative Update • May 19

CAT: Future Returns Will Reflect Data Center Power And Physical AI Opportunities

Caterpillar's updated analyst price target framework moves from a fair value of about $754 to roughly $913, with analysts generally pointing to firmer profit margin assumptions and a higher future P/E multiple as key drivers of the change, even as they apply a slightly higher discount rate and trim revenue growth expectations. Analyst Commentary Recent Street research on Caterpillar clusters around a consistent theme, with a series of higher price targets and at least one fresh upgrade.
JBTM
US$128.71
JBT Marel
7D
2.9%
1Y
12.8%
Narrative Update • May 18

JBTM: 2026 Sector Assumptions And Execution Will Shape Balanced Return Potential

Analysts have raised JBT Marel's price targets to $190 and $202 in recent updates, citing expected sector trends in 2026, changes in valuation, and refreshed models following the Q4 results as key reasons for the higher targets. Analyst Commentary Recent research updates on JBT Marel highlight higher price targets of $190 and $202, tied to refreshed models after Q4 results, sector expectations for 2026, and reassessments of valuation.
FLS
US$68.28
Flowserve
7D
2.7%
1Y
38.0%
TKR
US$117.20
Timken
7D
1.3%
1Y
68.6%
RBC
US$571.05
RBC Bearings
7D
-7.7%
1Y
55.7%
ITT
US$193.34
ITT
7D
-4.9%
1Y
29.7%
Analysis Article • May 16

We Think That There Are More Issues For ITT (NYSE:ITT) Than Just Sluggish Earnings

ITT Inc.'s ( NYSE:ITT ) recent weak earnings report didn't cause a big stock movement. Our analysis suggests that along...
CYD
US$53.66
China Yuchai International
7D
5.2%
1Y
211.1%
WAB
US$259.13
Westinghouse Air Brake Technologies
7D
-2.1%
1Y
29.0%
PNR
US$74.19
Pentair
7D
0.8%
1Y
-23.8%
Narrative Update • May 15

PNR: Cash Returns And Margin Discipline Will Support Reset Expectations

Pentair's analyst price target has been updated from $110.00 to about $102.26, reflecting a series of recent target cuts by multiple firms as analysts factor in modestly adjusted growth, margins, discount rate and future P/E assumptions. Analyst Commentary Recent Street research around Pentair centers on a cluster of price target trims, with analysts reassessing what they are willing to pay for the stock based on updated assumptions around growth, margins, discount rates and future P/E multiples.
AEBI
US$12.26
Aebi Schmidt Holding
7D
13.8%
1Y
n/a
ALSN
US$108.35
Allison Transmission Holdings
7D
-11.5%
1Y
4.3%
DE
US$560.46
Deere
7D
-3.5%
1Y
8.9%
Seeking Alpha • May 14

Deere: I Would Take The Gains (Q1 Earnings Preview)

Summary Caterpillar outperformed Deere over the past year, driven by AI-related power generator demand and manufacturing reshoring tailwinds. I have maintained a neutral rating on Deere, as its returns have largely tracked the broader market without clear outperformance. Upcoming Deere earnings are a key catalyst; I will reassess my rating based on reported results and forward outlook. Manufacturing sector momentum, fueled by data center buildout and reshoring, remains a central theme impacting both CAT and DE. Read the full article on Seeking Alpha
HLIO
US$79.16
Helios Technologies
7D
5.3%
1Y
157.0%
Analysis Article • May 14

Earnings Beat: Helios Technologies, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

As you might know, Helios Technologies, Inc. ( NYSE:HLIO ) just kicked off its latest quarterly results with some very...
ITW
US$250.77
Illinois Tool Works
7D
0.3%
1Y
2.5%
PH
US$859.44
Parker-Hannifin
7D
-2.6%
1Y
29.9%