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U.S. Machinery Industry Analysis

UpdatedMar 31, 2026
DataAggregated Company Financials
Companies186
  • 7D-4.0%
  • 3M4.2%
  • 1Y33.4%
  • YTD3.0%

Over the last 7 days, the Machinery industry has remained flat, although notably Worthington Enterprises gained 3.7%. As for the the longer term, the industry is up 37% over the past 12 months. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 31 Mar 2026US$1.3tUS$451.5bUS$43.6b25.3x30.8x3x
Thu, 26 Feb 2026US$1.5tUS$450.6bUS$42.7b29.6x35.6x3.4x
Sat, 24 Jan 2026US$1.4tUS$450.6bUS$43.7b27.1x31.6x3.1x
Mon, 22 Dec 2025US$1.3tUS$450.8bUS$43.7b25.3x28.8x2.8x
Wed, 19 Nov 2025US$1.2tUS$449.4bUS$43.8b23.2x27.2x2.6x
Fri, 17 Oct 2025US$1.2tUS$446.9bUS$44.9b24.1x26.4x2.6x
Sun, 14 Sep 2025US$1.1tUS$447.0bUS$44.2b24x25.7x2.5x
Tue, 12 Aug 2025US$1.1tUS$448.1bUS$44.3b23.2x25.3x2.5x
Thu, 10 Jul 2025US$1.1tUS$449.5bUS$44.6b23.7x24.8x2.5x
Sat, 07 Jun 2025US$1.0tUS$449.1bUS$44.5b23.3x23.5x2.3x
Mon, 05 May 2025US$990.2bUS$451.6bUS$46.6b21.8x21.2x2.2x
Wed, 02 Apr 2025US$996.6bUS$457.3bUS$48.2b20.8x20.7x2.2x
Fri, 28 Feb 2025US$1.1tUS$458.2bUS$48.0b22x22.2x2.3x
Sun, 26 Jan 2025US$1.1tUS$467.3bUS$47.9b23.9x23.3x2.4x
Tue, 24 Dec 2024US$1.1tUS$467.6bUS$47.9b22.6x22x2.3x
Thu, 21 Nov 2024US$1.1tUS$471.7bUS$49.0b23.8x22.4x2.3x
Sat, 19 Oct 2024US$1.1tUS$474.2bUS$49.4b21.9x21.8x2.3x
Mon, 16 Sep 2024US$991.3bUS$474.2bUS$49.4b21x20.1x2.1x
Wed, 14 Aug 2024US$944.6bUS$476.7bUS$50.2b21.1x18.8x2x
Fri, 12 Jul 2024US$954.4bUS$476.7bUS$51.6b20.8x18.5x2x
Sun, 09 Jun 2024US$967.0bUS$477.0bUS$51.3b22x18.9x2x
Tue, 07 May 2024US$1.0tUS$479.1bUS$51.7b22.8x19.5x2.1x
Thu, 04 Apr 2024US$1.1tUS$478.4bUS$48.1b23.4x22.1x2.2x
Sat, 02 Mar 2024US$996.7bUS$477.3bUS$47.3b24.6x21.1x2.1x
Mon, 29 Jan 2024US$962.4bUS$486.4bUS$48.3b22.8x19.9x2x
Wed, 27 Dec 2023US$964.5bUS$484.9bUS$47.8b23x20.2x2x
Fri, 24 Nov 2023US$877.0bUS$484.2bUS$47.5b20.3x18.5x1.8x
Sun, 22 Oct 2023US$834.7bUS$475.2bUS$44.4b19x18.8x1.8x
Tue, 19 Sep 2023US$898.2bUS$475.0bUS$44.4b20.7x20.2x1.9x
Thu, 17 Aug 2023US$912.4bUS$473.4bUS$43.4b20.3x21x1.9x
Sat, 15 Jul 2023US$929.6bUS$459.8bUS$40.2b20.7x23.1x2x
Mon, 12 Jun 2023US$857.8bUS$460.9bUS$40.5b19.8x21.2x1.9x
Wed, 10 May 2023US$817.3bUS$456.6bUS$40.0b18.7x20.5x1.8x
Fri, 07 Apr 2023US$794.7bUS$447.5bUS$38.0b19.9x20.9x1.8x
Price to Earnings Ratio

20.9x


Total Market Cap: US$794.7bTotal Earnings: US$38.0bTotal Revenue: US$447.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 22.8x202420252026
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 30.9x which is higher than its 3-year average PE of 22.8x.
  • 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 4.8% 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-3.50%
Industrials-4.18%
Machinery-4.03%
Agricultural Machinery-2.19%
Industrial Machinery-4.20%
Construction Machinery and Vehicles-4.47%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry, which is trading close to its 3-year average PE ratio of 30.9x.
    • Analysts are expecting annual earnings growth of 14.9%, 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 17.2x.
Forecasted Growth
  • Analysts are most optimistic on the Agricultural Machinery industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings decline of 19% per year.
  • In contrast, the Industrial Machinery industry is expected to see its earnings grow by 15% 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
WOR Worthington EnterprisesUS$50.993.7%
+US$90.7m		1.8%PE22.6x
TRN Trinity IndustriesUS$31.362.5%
+US$59.9m		11.8%PE9.6x
ESE ESCO TechnologiesUS$268.990.4%
+US$26.4m		69.0%PE55.9x
HY Hyster-YaleUS$31.784.8%
+US$26.3m		-23.5%PS0.2x
UGRO urban-groUS$20.62235.3%
+US$10.9m		104.2%PS0.7x

Latest News

ITW
US$256.19
Illinois Tool Works
7D
-2.5%
1Y
3.3%
WOR
US$50.99
Worthington Enterprises
7D
3.7%
1Y
1.8%
DOV
US$202.81
Dover
7D
-4.5%
1Y
15.4%

DOV: Short Cycle Recovery And 2026 Guidance Will Drive Balanced Outlook

Narrative Update on Dover The analyst price target for Dover has been adjusted by about $1 to align with a slightly higher fair value estimate of $231.71. This change reflects analysts' updated views on organic growth, margin potential, and short cycle recovery trends cited in recent research.
OFLX
US$30.72
Omega Flex
7D
3.0%
1Y
-11.7%
ESE
US$268.99
ESCO Technologies
7D
0.4%
1Y
69.0%
HY
US$31.78
Hyster-Yale
7D
4.8%
1Y
-23.5%
DE
US$555.50
Deere
7D
-2.4%
1Y
18.4%
MEC
US$17.48
Mayville Engineering Company
7D
1.3%
1Y
30.2%

MEC: Data Center And Power Exposure Will Support Future Earnings Power

Narrative Update: Analyst Price Target Shift for Mayville Engineering Company Analysts have lifted their price target for Mayville Engineering Company to $25, citing recent upgrades and a focus on data center and power market opportunities, even as FY26 guidance reflects the cost of supporting those areas. Analyst Commentary Recent research activity around Mayville Engineering Company has centered on higher price targets and upgraded views, even as the company works through mixed quarterly results and detailed long term guidance.
PH
US$861.48
Parker-Hannifin
7D
-4.9%
1Y
41.7%

PH: Future Upside Will Depend On Margin Expansion And Ongoing Share Repurchases

Analysts now set the Parker Hannifin price target at $1,167.86, compared with the prior $1,139.00, citing updated assumptions around revenue growth of 7.15%, a profit margin of 19.23%, a discount rate of 8.42% and a future P/E of 37.19x. What's in the News Parker-Hannifin revised earnings guidance for the fiscal year ending June 30, 2026, with reported sales growth guided to a range of 5.5% to 7.5% and organic sales growth of approximately 5% at the midpoint (Corporate guidance).
MLR
US$45.42
Miller Industries
7D
2.0%
1Y
7.2%
CAT
US$667.43
Caterpillar
7D
-4.9%
1Y
102.4%

CAT: Data Center Power Dependence Will Likely Restrain Future Return Potential

Caterpillar's updated analyst price target reflects a modest fair value lift of about $1 per share. Analysts point to stronger construction demand signals from ConExpo, lengthening engine lead times tied to data center projects, and growing confidence in the company as a physical AI and infrastructure supplier.
IR
US$76.94
Ingersoll Rand
7D
-6.5%
1Y
-3.9%

IR: Share Repurchases And Premium P/E Will Support Balanced Future Returns

Analysts have raised their price target on Ingersoll Rand from about $88.30 to roughly $102.73. This change reflects updated views on discount rates, revenue growth, profit margins and the price-to-earnings ratio they are prepared to apply to future earnings.
CMI
US$511.70
Cummins
7D
-6.7%
1Y
63.3%

CMI: Rising Data Center Demand Will Support Earnings Through Next Truck Cycle Trough

The analyst price target for Cummins has increased by $123, as analysts point to updated assumptions for slightly stronger revenue growth and profit margins. They also note a modest adjustment to the discount rate and future P/E expectations.
OTIS
US$76.33
Otis Worldwide
7D
-3.4%
1Y
-26.0%

OTIS: Service And Modernization Contracts Will Support Mixed Post Q4 Sentiment

Narrative Update: Otis Worldwide The updated analyst price target for Otis Worldwide now stands at $102.43, reflecting only a very small adjustment as analysts balance cautious tweaks to discount rate, growth and margin assumptions with mixed recent research views that range from fresh Outperform initiation to downgrades and short term sell ideas. Analyst Commentary Recent research on Otis Worldwide presents a split view, with some analysts focusing on long term growth potential and others flagging near term execution risks around earnings and guidance.
TRN
US$31.36
Trinity Industries
7D
2.5%
1Y
11.8%

TRN: Future Upside Will Rely On Executing EPS Guidance And Buyback Plan

Analysts have kept their price target for Trinity Industries steady at $33.50, reflecting largely unchanged views on fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News Trinity Industries reported that between October 1, 2025 and December 31, 2025 it repurchased 455,768 shares, or 0.57% of shares, for US$12.13 million under its existing buyback program (Key Developments).
UGRO
US$20.62
urban-gro
7D
235.3%
1Y
104.2%