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U.S. Machinery Industry Analysis

UpdatedJun 09, 2026
DataAggregated Company Financials
Companies192
  • 7D4.1%
  • 3M5.7%
  • 1Y39.7%
  • YTD17.0%

The Machinery industry is up 4.1% in the last week, with Caterpillar up 5.8%. In the same time, Symbotic was down 8.4%. In the last 12 months, the industry was up 40%. Earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 09 Jun 2026US$1.5tUS$489.4bUS$44.8b26.8x33.9x3.1x
Thu, 07 May 2026US$1.5tUS$460.5bUS$44.0b28x34.1x3.3x
Sat, 04 Apr 2026US$1.4tUS$451.5bUS$43.6b26.2x31.6x3.1x
Mon, 02 Mar 2026US$1.5tUS$450.0bUS$43.2b28.4x34.5x3.3x
Wed, 28 Jan 2026US$1.4tUS$449.6bUS$43.4b27.7x31.4x3x
Fri, 26 Dec 2025US$1.3tUS$450.8bUS$43.7b25.5x29.1x2.8x
Sun, 23 Nov 2025US$1.2tUS$449.1bUS$43.9b23.7x27x2.6x
Tue, 21 Oct 2025US$1.2tUS$447.0bUS$44.9b24.3x26.5x2.7x
Thu, 18 Sep 2025US$1.1tUS$447.0bUS$44.2b24.4x25.8x2.6x
Sat, 16 Aug 2025US$1.1tUS$446.8bUS$44.2b23.7x25.6x2.5x
Mon, 14 Jul 2025US$1.1tUS$449.5bUS$44.6b23.9x25.1x2.5x
Wed, 11 Jun 2025US$1.1tUS$449.1bUS$44.5b23.2x23.9x2.4x
Fri, 09 May 2025US$977.2bUS$451.4bUS$45.2b22.3x21.6x2.2x
Sun, 06 Apr 2025US$887.8bUS$457.1bUS$48.6b18.6x18.3x1.9x
Tue, 04 Mar 2025US$1.1tUS$458.2bUS$48.0b21.6x22.3x2.3x
Thu, 30 Jan 2025US$1.1tUS$464.2bUS$47.3b23.2x23.4x2.4x
Sat, 28 Dec 2024US$1.1tUS$467.6bUS$47.9b22.6x22.2x2.3x
Mon, 25 Nov 2024US$1.1tUS$467.5bUS$48.0b25x23.9x2.4x
Wed, 23 Oct 2024US$1.1tUS$473.9bUS$49.2b21.4x21.8x2.3x
Fri, 20 Sep 2024US$1.0tUS$474.2bUS$49.4b21.7x20.5x2.1x
Sun, 18 Aug 2024US$978.5bUS$474.2bUS$49.0b21.3x20x2.1x
Tue, 16 Jul 2024US$986.5bUS$476.7bUS$51.6b21.2x19.1x2.1x
Thu, 13 Jun 2024US$964.3bUS$477.0bUS$51.3b22.6x18.8x2x
Sat, 11 May 2024US$1.0tUS$479.5bUS$51.8b22.2x20x2.2x
Mon, 08 Apr 2024US$1.1tUS$478.2bUS$48.1b23.8x22.2x2.2x
Wed, 06 Mar 2024US$1.0tUS$477.2bUS$47.4b24.2x21.1x2.1x
Fri, 02 Feb 2024US$982.0bUS$485.3bUS$48.3b22.9x20.4x2x
Sun, 31 Dec 2023US$970.3bUS$484.8bUS$47.9b22.8x20.3x2x
Tue, 28 Nov 2023US$883.5bUS$484.0bUS$47.7b20.7x18.5x1.8x
Thu, 26 Oct 2023US$824.5bUS$476.8bUS$45.1b17.9x18.3x1.7x
Sat, 23 Sep 2023US$868.8bUS$475.0bUS$44.4b19.8x19.6x1.8x
Mon, 21 Aug 2023US$897.2bUS$413.7bUS$34.5b19.9x26x2.2x
Wed, 19 Jul 2023US$953.8bUS$459.8bUS$40.2b20.7x23.7x2.1x
Fri, 16 Jun 2023US$883.8bUS$460.9bUS$40.5b20.2x21.8x1.9x
Price to Earnings Ratio

21.8x


Total Market Cap: US$883.8bTotal 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 33.9x 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 3.1x.
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-2.73%
Industrials-0.12%
Machinery4.06%
Agricultural Machinery5.47%
Construction Machinery and Vehicles5.03%
Industrial Machinery2.60%
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 16.1%, 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 18% 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$915.645.8%
+US$23.2b		155.7%PE44.7x
DE DeereUS$573.665.8%
+US$8.4b		10.0%PE32.4x
PH Parker-HannifinUS$883.147.3%
+US$7.5b		31.8%PE32x
PCAR PACCARUS$118.448.2%
+US$4.7b		25.4%PE25.2x
CMI CumminsUS$672.684.5%
+US$4.0b		106.5%PE34.7x

Latest News

PH
US$883.14
Parker-Hannifin
7D
7.3%
1Y
31.8%
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).
ITW
US$252.39
Illinois Tool Works
7D
2.7%
1Y
2.1%
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$10.68
CNH Industrial
7D
8.4%
1Y
-16.9%
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$672.68
Cummins
7D
4.5%
1Y
106.5%
ESAB
US$87.92
ESAB
7D
-2.8%
1Y
-31.0%
DE
US$573.66
Deere
7D
5.8%
1Y
10.0%
TTC
US$89.94
Toro
7D
-0.04%
1Y
25.9%
CAT
US$915.64
Caterpillar
7D
5.8%
1Y
155.7%
Narrative Update • Jun 05

CAT: AI Power Projects And Tariff Relief Will Likely Cap Future Upside

Caterpillar's analyst price target has shifted from $575 to about $670 as analysts factor in Street research highlighting stronger demand expectations across power generation, construction, mining, and oil and gas, along with higher projected revenue growth, profit margins, and future P/E assumptions. Analyst Commentary Recent Street research on Caterpillar has leaned constructive on the demand outlook in power generation, construction, mining, and oil and gas, with several firms lifting price targets to reflect stronger earnings assumptions and higher P/E multiples.
KAI
US$294.69
Kadant
7D
-6.6%
1Y
-11.5%
Narrative Update • Jun 05

KAI: Buybacks And Dividend Growth Will Support A Steady Outlook

Analysts now see Kadant's fair value steady at $306, with minor adjustments to discount rate, revenue growth, profit margin, and future P/E assumptions informing this updated price target estimate. What's in the News Kadant's Board of Directors authorized a new share repurchase plan on May 21, 2026, allowing the company to buy back its stock.
PCAR
US$118.44
PACCAR
7D
8.2%
1Y
25.4%
Narrative Update • Jun 04

PCAR: Future Returns Will Balance Truck Demand Cycles And Powertrain Technology Shifts

Analysts have trimmed the blended price target for PACCAR by about $2. This reflects a mix of recent upward and downward target revisions as they factor in updated views on future revenue growth, profit margins and valuation multiples.
SYM
US$44.33
Symbotic
7D
-8.4%
1Y
46.6%
RR
US$2.44
Richtech Robotics
7D
-21.5%
1Y
2.3%
JBTM
US$123.89
JBT Marel
7D
-4.6%
1Y
0.09%
Narrative Update • Jun 02

JBTM: Food Processing Execution Risk Will Limit Share Repurchase Upside

Analysts have trimmed their average price target on JBT Marel to $165 from $190, reflecting a lower comparable group multiple, even as they highlight the company’s growing role in food processing and its mix of secular growth, high margin recurring revenues, and strong free cash flow generation. Analyst Commentary Recent research highlights a split view on JBT Marel.
DOV
US$216.19
Dover
7D
4.2%
1Y
19.6%
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.
SSYS
US$8.96
Stratasys
7D
-16.2%
1Y
-15.9%
Narrative Update • May 29

SSYS: New Products And Partnerships Will Drive Upside Despite FX And Tariff Headwinds

Analysts have reduced their price target on Stratasys to $12 from $14, citing modestly better demand that is being offset by foreign exchange and tariff pressures on earnings. They are also looking to potential new products and partnerships later this year as possible growth drivers.
VELO
US$16.23
Velo3D
7D
-24.5%
1Y
114.5%