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U.S. Machinery Industry Analysis

UpdatedSep 22, 2026
DataAggregated Company Financials
Companies188
  • 7D1.2%
  • 3M-6.8%
  • 1Y25.2%
  • YTD14.5%

The Machinery is pretty flat in the last 7 days, but Caterpillar has stood out, gaining 4.1%. As for the the longer term, the industry is up 25% 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
Tue, 22 Sep 2026US$1.4tUS$471.2bUS$46.9b24.3x30.9x3.1x
Thu, 20 Aug 2026US$1.5tUS$497.1bUS$47.7b26.7x32.1x3.1x
Sat, 18 Jul 2026US$1.5tUS$485.7bUS$45.0b26.8x33.7x3.1x
Mon, 15 Jun 2026US$1.5tUS$489.5bUS$44.9b27.3x34.4x3.1x
Wed, 13 May 2026US$1.5tUS$460.8bUS$43.8b26.8x34.6x3.3x
Fri, 10 Apr 2026US$1.5tUS$451.4bUS$43.6b28.1x33.6x3.2x
Sun, 08 Mar 2026US$1.4tUS$449.8bUS$43.2b27x32x3.1x
Tue, 03 Feb 2026US$1.4tUS$450.8bUS$42.8b27.8x31.9x3x
Thu, 01 Jan 2026US$1.3tUS$450.9bUS$43.7b25x28.9x2.8x
Sat, 29 Nov 2025US$1.3tUS$450.7bUS$43.7b24.9x28.7x2.8x
Mon, 27 Oct 2025US$1.2tUS$445.8bUS$44.2b24.6x27x2.7x
Wed, 24 Sep 2025US$1.2tUS$447.0bUS$44.2b24.4x26.4x2.6x
Fri, 22 Aug 2025US$1.1tUS$446.8bUS$44.2b23.7x25.5x2.5x
Sun, 20 Jul 2025US$1.1tUS$449.5bUS$44.6b23.3x24.5x2.4x
Tue, 17 Jun 2025US$1.0tUS$449.2bUS$44.5b23.2x23.3x2.3x
Thu, 15 May 2025US$1.1tUS$451.6bUS$45.2b22.9x23.4x2.3x
Sat, 12 Apr 2025US$908.6bUS$457.0bUS$48.6b19.7x18.7x2x
Mon, 10 Mar 2025US$1.1tUS$458.0bUS$47.8b22.1x22.2x2.3x
Wed, 05 Feb 2025US$1.1tUS$462.2bUS$49.2b23.5x22.3x2.4x
Fri, 03 Jan 2025US$1.0tUS$467.6bUS$47.9b22.7x21.8x2.2x
Sun, 01 Dec 2024US$1.2tUS$467.6bUS$47.8b25.5x24.1x2.5x
Tue, 29 Oct 2024US$1.1tUS$473.9bUS$49.0b21.5x21.5x2.2x
Thu, 26 Sep 2024US$1.1tUS$474.2bUS$49.4b21.8x21.3x2.2x
Sat, 24 Aug 2024US$984.6bUS$474.2bUS$49.1b21.8x20.1x2.1x
Mon, 22 Jul 2024US$1.0tUS$476.7bUS$51.7b20.9x19.5x2.1x
Wed, 19 Jun 2024US$965.3bUS$477.0bUS$51.3b21.5x18.8x2x
Fri, 17 May 2024US$1.0tUS$479.5bUS$51.8b22.1x20.2x2.2x
Sun, 14 Apr 2024US$1.1tUS$478.1bUS$48.1b23.4x22x2.2x
Tue, 12 Mar 2024US$1.0tUS$477.2bUS$47.5b24.3x21.2x2.1x
Thu, 08 Feb 2024US$971.2bUS$476.3bUS$47.1b22.8x20.6x2x
Sat, 06 Jan 2024US$939.6bUS$485.4bUS$47.8b22x19.7x1.9x
Mon, 04 Dec 2023US$902.0bUS$483.9bUS$47.8b20.8x18.9x1.9x
Wed, 01 Nov 2023US$811.8bUS$481.3bUS$46.3b18.7x17.5x1.7x
Fri, 29 Sep 2023US$877.1bUS$475.1bUS$44.4b20.3x19.8x1.8x
Price to Earnings Ratio

19.8x


Total Market Cap: US$877.1bTotal Earnings: US$44.4bTotal Revenue: US$475.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 24.7x202420252026
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 24.7x.
  • The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 3.1x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Machinery industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

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

US Market1.77%
Industrials0.41%
Machinery1.15%
Construction Machinery and Vehicles1.72%
Industrial Machinery0.97%
Agricultural Machinery0.14%
Industry PE
  • Investors are most optimistic about the Agricultural Machinery industry which is trading above its 3-year average PE ratio of 20.2x.
    • Analysts are expecting annual earnings growth of 18.4%, which is higher than its past year's earnings decline of 10.4% per year.
  • Investors are most pessimistic about the Industrial Machinery industry, which is trading close to its 3-year average of 31.2x.
Forecasted Growth
  • Analysts are most optimistic on the Agricultural Machinery industry, expecting annual earnings growth of 18% over the next 5 years.
  • This is better than its past earnings decline of 10% 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$816.504.1%
+US$14.9b		73.0%PE34.6x
PH Parker-HannifinUS$958.173.2%
+US$3.8b		26.1%PE33.1x
DE DeereUS$684.730.5%
+US$881.7m		46.0%PE37.9x
WAB Westinghouse Air Brake TechnologiesUS$283.381.8%
+US$837.8m		43.2%PE37.8x
ITT ITTUS$205.683.1%
+US$552.5m		13.4%PE43.6x

Latest News

PH
US$958.17
Parker-Hannifin
7D
3.2%
1Y
26.1%
PCAR
US$114.73
PACCAR
7D
-6.6%
1Y
18.2%
ITT
US$205.68
ITT
7D
3.1%
1Y
13.4%
Narrative Update • Sep 19

ITT: Flow Technologies Acquisition And Raised Guidance Will Drive Bullish Re Rating

The analyst price target for ITT has increased from $252.08 to $258.38 as analysts factor in higher organic growth assumptions, stronger order trends, and raised guidance reflected in recent Q2 updates and new Outperform initiations. Analyst Commentary Recent research on ITT points to a cluster of higher price targets and positive views on execution, orders, and guidance following the latest Q2 updates.
ITW
US$267.52
Illinois Tool Works
7D
-0.6%
1Y
2.5%
FLS
US$74.67
Flowserve
7D
4.6%
1Y
31.5%
CNH
US$13.48
CNH Industrial
7D
-2.0%
1Y
22.5%
Narrative Update • Sep 18

CNH: Farm Recovery And Margin Progress Will Shape 2027 Replacement Cycle

Analysts have lifted their CNH Industrial fair value estimate by about $0.52 to $13.82 as they factor in Q2 earnings updates, higher long term price targets from several firms, and expectations that improving farm fundamentals and a healthier U.S. ag cycle could support more normal replacement demand and margin recovery by 2027. Analyst Commentary Recent research on CNH Industrial highlights a mix of optimism around a potential 2027 recovery in agriculture and ongoing questions about the pace of margin improvement and valuation support.
OTIS
US$66.64
Otis Worldwide
7D
-5.0%
1Y
-25.4%
Seeking Alpha • Sep 17

Otis: The Catalysts I Used To Double Down After A 22% Fall

Summary Otis Worldwide Corporation is highlighted as the largest global elevator and escalator company, with a recent 14% dip presenting a buying opportunity. I maintain conviction in OTIS, emphasizing its dominant market position and the resilience of its business model. Key investment thesis centers on OTIS’s stable cash flows, essential service demand, and long-term growth prospects. The article opens with a personal investment stance and frames OTIS as a core portfolio holding following the recent share price decline. Read the full article on Seeking Alpha
DOV
US$186.09
Dover
7D
-1.6%
1Y
9.3%
CMI
US$534.78
Cummins
7D
-1.2%
1Y
25.9%
Seeking Alpha • Sep 16

Cummins: Data Center Demand And Truck Recovery Support A Multi-Year Growth Outlook

Summary Cummins Inc. is rated a Buy, driven by robust multi-year demand from data center power generation and recovering North American truck markets. CMI's order book extends through 2028, with capacity expansion targeting 55 GW by 2030 and data center revenue projected to grow from $5B in 2026 to $9B by 2030. New HELM engine platforms and a growing installed base underpin recurring aftermarket revenues and margin support as production ramps. Trading at 18.24x FY26 EPS, CMI offers an attractive risk-reward profile versus the sector and peer Caterpillar, with consensus EPS growth of 24.73% this year and 16.32% next. Read the full article on Seeking Alpha
CAT
US$816.50
Caterpillar
7D
4.1%
1Y
73.0%
SNA
US$369.75
Snap-on
7D
-2.1%
1Y
9.5%
Seeking Alpha • Sep 15

Snap-On: The Growth Engine Is Shifting, But 19x Earnings Still Prices In A Lot

Summary Snap-on Incorporated (SNA) delivered strong Q2 results, with sales up 4.7% and EPS up 5.1%, driven by robust Commercial & Industrial growth. SNA's Commercial & Industrial segment is now the primary growth engine, offsetting weaker tool storage and OEM dealership demand in legacy automotive businesses. Repair Systems & Information faces margin pressure and flat growth due to OEM spending pullbacks, limiting near-term upside despite ongoing investments in proprietary data and diagnostics. I rate SNA a Hold; valuation is reasonable but not compelling given margin uncertainties and persistent softness in tool storage and OEM markets. Read the full article on Seeking Alpha
DE
US$684.73
Deere
7D
0.5%
1Y
46.0%
Seeking Alpha • Sep 11

Deere & Company: Showing Leverage, But Not Enough To Justify The Share Price

Summary John Deere receives a Hold rating due to a disconnect between muted revenue growth expectations and a sharply elevated share price. Despite strong segmental performance and margin improvements, DE’s forward valuation at 39x FWD EV/EBIT is not justified by high single-digit revenue growth. Construction & Forestry and Small Ag & Turf segments are offsetting weakness in Production & Precision Ag, with robust demand and margin expansion aided by price realization. Recurring customer loyalty and a dominant market position support a premium, but cyclical end markets and margin pressures cap upside at the current valuation. Read the full article on Seeking Alpha
RBC
US$492.56
RBC Bearings
7D
2.9%
1Y
28.4%
LECO
US$258.32
Lincoln Electric Holdings
7D
2.8%
1Y
8.3%
Narrative Update • Sep 03

LECO: Automation Demand And Cash Deployment Will Support Future Upside

The analyst price target for Lincoln Electric Holdings has been revised higher by about $10 to reflect updated views on fair value, slightly adjusted discount rate assumptions, and Street research that highlights the company’s exposure to industrial growth and automation demand as well as margin normalization. Analyst Commentary Recent Street research on Lincoln Electric Holdings points to a mix of optimism around long term growth drivers and some caution on how much upside is already captured in the stock.
ALSN
US$118.86
Allison Transmission Holdings
7D
-3.7%
1Y
34.5%
WAB
US$283.38
Westinghouse Air Brake Technologies
7D
1.8%
1Y
43.2%