Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Machinery Industry Analysis

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies190
  • 7D0.8%
  • 3M12.0%
  • 1Y46.5%
  • YTD22.5%

Last week, the Machinery industry hasn't moved much but Caterpillar is up 4.1% in that time. As for the the longer term, the industry is up 46% over the past 12 months. 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
Wed, 24 Jun 2026US$1.6tUS$489.2bUS$44.8b27.7x36.6x3.4x
Fri, 22 May 2026US$1.5tUS$461.2bUS$43.7b26.4x33.2x3.1x
Sun, 19 Apr 2026US$1.5tUS$451.4bUS$43.5b27.5x34.2x3.3x
Tue, 17 Mar 2026US$1.4tUS$451.5bUS$43.3b26.3x31.4x3x
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
Price to Earnings Ratio

22.6x


Total Market Cap: US$906.9bTotal Earnings: US$40.2bTotal Revenue: US$459.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 23.8x202420252026
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 36.6x which is higher than its 3-year average PE of 23.8x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 3.4x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have grown 3.7% per year over the last three years.
  • Revenues for these companies have grown 2.1% 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-2.31%
Industrials-0.71%
Machinery0.85%
Construction Machinery and Vehicles2.17%
Agricultural Machinery0.57%
Industrial Machinery-0.55%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 20.5x.
    • 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 18.5x.
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
CAT CaterpillarUS$984.244.1%
+US$17.9b		163.9%PE48.1x
DE DeereUS$591.941.1%
+US$1.8b		15.1%PE33.4x
PH Parker-HannifinUS$947.581.0%
+US$1.1b		40.3%PE34.3x
RBC RBC BearingsUS$633.442.0%
+US$389.9m		63.2%PE69.5x
ESE ESCO TechnologiesUS$343.084.1%
+US$352.9m		82.5%PE67.4x

Latest News

ITW
US$261.64
Illinois Tool Works
7D
-1.6%
1Y
6.4%
OTIS
US$71.75
Otis Worldwide
7D
-2.4%
1Y
-26.3%
Narrative Update • Jun 23

OTIS: Service And Modernization Strength Will Support Recovery From Margin Pressures

Otis Worldwide's updated analyst price target has shifted modestly to $94.20. This reflects mixed recent Street research, where several firms reduced their targets, while others highlighted what analysts describe as encouraging new product launches, cross sell momentum, and an under appreciated growth profile.
RBC
US$633.44
RBC Bearings
7D
2.0%
1Y
63.2%
Narrative Update • Jun 23

RBC: Aerospace And Industrial Demand Will Support Balanced Long Term Prospects

RBC Bearings' analyst price target remains effectively unchanged near $616, as analysts point to stable fair value, discount rate, growth, margin, and future P/E assumptions that have only shifted marginally in recent updates. What’s in the News for RBC Bearings RBC Bearings reported Q1 revenue of $518 million, up 18.3% year over year and 2.3% above analyst expectations, driven by Aerospace & Defense expansion and accelerating Industrial growth.
DE
US$591.94
Deere
7D
1.1%
1Y
15.1%
CNH
US$9.99
CNH Industrial
7D
-4.9%
1Y
-22.4%
Narrative Update • Jun 23

CNH: Tariff Relief And R&D Investments Will Support 2027 Recovery

Analysts have trimmed their average price target on CNH Industrial by around $1, reflecting mixed recent research views that consider both tariff-related earnings tailwinds and more cautious stock ratings. Analyst Commentary Recent research on CNH Industrial reflects a mix of optimism around tariff relief and more cautious views on execution and valuation, which is feeding into the trimmed average price targets.
CR
US$212.85
Crane
7D
2.8%
1Y
15.5%
Narrative Update • Jun 22

CR: Acquisition Capacity And M&A Pipeline Will Shape Balanced 2026 Outlook

Analysts have held Crane's fair value target steady at about $220 per share, with small tweaks to the discount rate, revenue growth, profit margin, and future P/E assumptions guiding the updated price framework. What’s in the News for Crane Crane Company is actively seeking acquisitions, with management highlighting a strong balance sheet and substantial M&A capacity, source: First Quarter 2026 Earnings Conference Call.
XYL
US$110.40
Xylem
7D
-1.5%
1Y
-13.2%
CAT
US$984.24
Caterpillar
7D
4.1%
1Y
163.9%
Narrative Update • Jun 22

CAT: AI Power Demand And Record Backlog Will Drive Future Multiple Repricing

The analyst price target for Caterpillar has been revised from $850.00 to $1,165.00. Analysts point to research that highlights strong demand across power generation, construction, mining, and oil and gas as key support for higher earnings assumptions, along with modestly higher long term revenue growth, margins, and P/E expectations.
IR
US$76.64
Ingersoll Rand
7D
-2.4%
1Y
-8.4%
PH
US$947.58
Parker-Hannifin
7D
1.0%
1Y
40.3%
Narrative Update • Jun 22

PH: Q4 Earnings Outlook And Dividend Streak Will Guide Long Term View

Analysts have made a minor adjustment to the Parker-Hannifin price target to $1,032.24 from $1,032.50, reflecting updated assumptions about revenue growth, profit margins, discount rates, and future P/E expectations. What’s in the News for Parker-Hannifin Multiple Wall Street firms, including Citi, Wells Fargo, and Bernstein, have expressed positive views on Parker-Hannifin ahead of its upcoming fiscal Q4 results.
ESE
US$343.08
ESCO Technologies
7D
4.1%
1Y
82.5%
Narrative Update • Jun 22

ESE: Multiple Growth Engines And Raised Guidance Will Support Future Profitability

Analysts have raised their price target for ESCO Technologies to $420 from $400, citing updated assumptions around revenue growth, profit margins, discount rate, and future P/E as the primary factors behind the change. What’s in the News for ESCO Technologies Analyst coverage highlights ESCO Technologies as a company with multiple growth drivers across its Aerospace & Defense and Utility Solutions Group segments, supported by order and backlog activity in commercial aircraft and naval programs, and by an expanded testing and monitoring portfolio following the Megger acquisition (source: "ESCO Technologies: Multiple Growth Drivers Make The Premium Worth Paying").
TEX
US$67.94
Terex
7D
4.6%
1Y
45.6%
Analysis Article • Jun 20

Terex (TEX) Stock Could Be 13% Undervalued After Strong Growth And Buy Signals

Terex stock reacts to strong fundamentals and technical momentum Terex (TEX) has attracted investor attention after reports of significant year-over-year growth in revenue and net profit, alongside high operating efficiency and supportive technical signals that point to strong price momentum. See our latest analysis for Terex. At a share price of $66.82, Terex has seen strong short term momentum, with a 30 day share price return of 16.61% feeding into a 1 year total shareholder return of...
PCAR
US$116.78
PACCAR
7D
-3.5%
1Y
24.2%
Analysis Article • Jun 20

PACCAR (PCAR) Stock Could Be 6% Undervalued As Madison Backs Profit Recovery

Recent commentary from Madison Investments put PACCAR (PCAR) in focus after it ranked as a top contributor to the Madison Large Cap Fund, even though commercial trucking end markets remain subdued. See our latest analysis for PACCAR. PACCAR’s recent recognition of high quality suppliers and its mention in Madison Investments’ fund letter sit alongside firm share price momentum, with a 30 day share price return of 6.55% and a five year total shareholder return of 141.25% suggesting solid...
FSS
US$118.19
Federal Signal
7D
4.9%
1Y
13.9%
GGG
US$74.16
Graco
7D
-2.8%
1Y
-13.3%
ESAB
US$96.62
ESAB
7D
-5.7%
1Y
-18.4%