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U.S. Machinery Industry Analysis

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies186
  • 7D-0.07%
  • 3M11.7%
  • 1Y38.2%
  • YTD9.3%

In the last week, Machinery has been flat. The past year has been better, since the industry has gained 38% in that time. Looking forward, earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Apr 2026US$1.4tUS$451.5bUS$43.6b26.7x31.3x3x
Sun, 01 Mar 2026US$1.5tUS$450.0bUS$43.2b28.4x34.5x3.3x
Tue, 27 Jan 2026US$1.4tUS$450.6bUS$43.7b27x31.1x3x
Thu, 25 Dec 2025US$1.3tUS$450.8bUS$43.7b25.5x29.1x2.8x
Sat, 22 Nov 2025US$1.2tUS$449.1bUS$44.0b23.7x26.9x2.6x
Mon, 20 Oct 2025US$1.2tUS$447.0bUS$44.9b24.1x26.2x2.6x
Wed, 17 Sep 2025US$1.1tUS$447.0bUS$44.2b24x25.8x2.6x
Fri, 15 Aug 2025US$1.2tUS$446.8bUS$44.2b23.9x26.1x2.6x
Sun, 13 Jul 2025US$1.1tUS$449.5bUS$44.6b23.9x24.6x2.4x
Tue, 10 Jun 2025US$1.1tUS$449.1bUS$44.5b23.2x23.7x2.4x
Thu, 08 May 2025US$976.6bUS$451.6bUS$45.2b21.7x21.6x2.2x
Sat, 05 Apr 2025US$934.6bUS$457.1bUS$48.6b18.6x19.2x2x
Mon, 03 Mar 2025US$1.1tUS$458.2bUS$48.0b22.2x22.3x2.3x
Wed, 29 Jan 2025US$1.1tUS$464.4bUS$47.4b23.3x23.5x2.4x
Fri, 27 Dec 2024US$1.1tUS$467.6bUS$47.9b22.7x22.1x2.3x
Sun, 24 Nov 2024US$1.1tUS$467.5bUS$48.0b25x23.9x2.4x
Tue, 22 Oct 2024US$1.1tUS$474.2bUS$49.4b21.7x21.8x2.3x
Thu, 19 Sep 2024US$1.0tUS$474.2bUS$49.6b21.2x20.4x2.1x
Sat, 17 Aug 2024US$978.8bUS$474.2bUS$49.0b21.3x20x2.1x
Mon, 15 Jul 2024US$986.5bUS$476.7bUS$51.6b20.9x19.1x2.1x
Wed, 12 Jun 2024US$970.8bUS$477.0bUS$51.3b22.4x18.9x2x
Fri, 10 May 2024US$1.0tUS$479.5bUS$51.8b22.1x19.8x2.1x
Sun, 07 Apr 2024US$1.1tUS$478.2bUS$48.1b23.8x22.2x2.2x
Tue, 05 Mar 2024US$1.0tUS$477.3bUS$47.3b24.6x21.2x2.1x
Thu, 01 Feb 2024US$977.3bUS$485.4bUS$48.3b22.2x20.3x2x
Sat, 30 Dec 2023US$973.3bUS$485.0bUS$47.8b22.8x20.3x2x
Mon, 27 Nov 2023US$883.5bUS$484.0bUS$47.7b20.4x18.5x1.8x
Wed, 25 Oct 2023US$827.0bUS$475.2bUS$44.4b18.6x18.6x1.7x
Fri, 22 Sep 2023US$868.4bUS$475.0bUS$44.4b20x19.6x1.8x
Sun, 20 Aug 2023US$897.2bUS$413.7bUS$34.5b19.9x26x2.2x
Tue, 18 Jul 2023US$928.6bUS$459.8bUS$40.2b20.7x23.1x2x
Thu, 15 Jun 2023US$883.9bUS$460.9bUS$40.5b20.2x21.8x1.9x
Sat, 13 May 2023US$804.2bUS$456.5bUS$39.8b18.2x20.2x1.8x
Mon, 10 Apr 2023US$788.8bUS$444.2bUS$38.3b20.1x20.6x1.8x
Price to Earnings Ratio

20.6x


Total Market Cap: US$788.8bTotal Earnings: US$38.3bTotal Revenue: US$444.2bTotal 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 31.3x 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 4.5% 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-0.32%
Industrials-0.72%
Machinery-0.073%
Construction Machinery and Vehicles1.16%
Industrial Machinery-0.81%
Agricultural Machinery-1.22%
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 15.3%, which is higher than its past year's earnings growth of 3.8% 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 Construction Machinery and Vehicles 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
CAT CaterpillarUS$717.222.0%
+US$6.5b		134.6%PE37.6x
CMI CumminsUS$549.683.7%
+US$2.7b		86.1%PE26.7x
PCAR PACCARUS$118.322.6%
+US$1.6b		28.1%PE26.2x
WAB Westinghouse Air Brake TechnologiesUS$253.913.4%
+US$1.4b		46.3%PE37.1x
PH Parker-HannifinUS$908.060.7%
+US$833.0m		63.1%PE32.4x

Latest News

LECO
US$243.67
Lincoln Electric Holdings
7D
-3.1%
1Y
35.8%
JBTM
US$125.15
JBT Marel
7D
-4.5%
1Y
11.3%
WAB
US$253.91
Westinghouse Air Brake Technologies
7D
3.4%
1Y
46.3%
CNH
US$10.65
CNH Industrial
7D
-2.8%
1Y
-5.5%

CNH: Cost Actions And Construction Review Will Support Post 2026 Margin Recovery

Analysts lifted their price target on CNH Industrial, with fair value edging up from $18.05 to $18.80, as updated models reflect higher assumed revenue growth, a slightly lower discount rate and a higher future P/E multiple, even as projected profit margins are set at a more cautious level. Analyst Commentary Recent research on CNH Industrial highlights a cluster of optimistic updates around the latest quarterly results, with several bullish analysts revisiting their models after the company issued 2026 guidance and discussed self help measures and portfolio options.
XYL
US$121.26
Xylem
7D
1.5%
1Y
9.3%
PH
US$908.06
Parker-Hannifin
7D
0.7%
1Y
63.1%
ITW
US$258.21
Illinois Tool Works
7D
-1.2%
1Y
7.8%
DOV
US$205.38
Dover
7D
-1.8%
1Y
26.2%

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.
SWK
US$68.64
Stanley Black & Decker
7D
-3.1%
1Y
6.2%
ITT
US$193.20
ITT
7D
3.3%
1Y
61.6%

ITT: SPX Integration Execution And Higher Leverage Will Shape Future Earnings Quality

The analyst price target for ITT edges down slightly from $233.0 to $231.7, as analysts weigh a higher revenue growth outlook against lower margin assumptions, tempering expectations while still recognizing the company as a premium earnings compounder with acquisition constraints from higher leverage. Analyst Commentary Recent research suggests that ITT is viewed as a quality earnings story with room for execution, but with some clear constraints and expectations that investors should weigh carefully.
DE
US$575.71
Deere
7D
-0.9%
1Y
28.7%
PCAR
US$118.32
PACCAR
7D
2.6%
1Y
28.1%

PCAR: Higher Margin Hopes Will Likely Struggle Against Truck Cycle Risk

Analysts have raised their average price target for PACCAR by several dollars into the low $120s, citing updated assumptions that include slightly stronger revenue growth, modestly higher profit margins, and revised P/E expectations reflected in recent target increases from major firms. Analyst Commentary Recent research has clustered around higher price targets for PACCAR, but not all of the commentary is unreservedly positive.
FTV
US$56.08
Fortive
7D
2.3%
1Y
-17.1%

FTV: Fair Value Case Weighs Buybacks Against Execution And Multiple Compression Risks

Fortive's analyst price target has been adjusted slightly lower to $51.10. Analysts point to updated fair value estimates, refined discount rate assumptions, and refreshed views on revenue growth, margins, and future P/E multiples following a series of recent price target revisions across major firms.
CAT
US$717.22
Caterpillar
7D
2.0%
1Y
134.6%

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$77.91
Ingersoll Rand
7D
-4.3%
1Y
6.0%

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$549.68
Cummins
7D
3.7%
1Y
86.1%

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.