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U.S. Machinery Industry Analysis

UpdatedMar 12, 2026
DataAggregated Company Financials
Companies185
  • 7D-4.6%
  • 3M7.9%
  • 1Y39.5%
  • YTD10.2%

Over the last 7 days, the Machinery industry has dropped 4.6%, driven by a pullback from Caterpillar of 3.3%. In contrast, 3D Systems has gained 18%. This takes the industry's 12 month performance to a gain of 39%. 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
Thu, 12 Mar 2026US$1.4tUS$449.8bUS$43.2b27.2x32.5x3.1x
Sat, 07 Feb 2026US$1.4tUS$449.4bUS$42.9b29.2x33.1x3.2x
Mon, 05 Jan 2026US$1.3tUS$450.9bUS$43.7b25.1x29.2x2.8x
Wed, 03 Dec 2025US$1.2tUS$450.7bUS$43.7b24.2x28.3x2.7x
Fri, 31 Oct 2025US$1.2tUS$447.8bUS$44.1b24x28x2.8x
Sun, 28 Sep 2025US$1.2tUS$447.0bUS$44.2b24.1x26x2.6x
Tue, 26 Aug 2025US$1.1tUS$446.9bUS$44.2b24.2x25.9x2.6x
Thu, 24 Jul 2025US$1.1tUS$448.6bUS$44.3b23.1x25.4x2.5x
Sat, 21 Jun 2025US$1.0tUS$449.2bUS$44.5b22.4x23.5x2.3x
Mon, 19 May 2025US$1.1tUS$449.1bUS$44.6b24.2x23.8x2.4x
Wed, 16 Apr 2025US$933.9bUS$457.0bUS$48.6b19.9x19.2x2x
Fri, 14 Mar 2025US$1.0tUS$457.3bUS$47.9b21.1x21.2x2.2x
Sun, 09 Feb 2025US$1.1tUS$461.6bUS$48.9b23x22.4x2.4x
Tue, 07 Jan 2025US$1.0tUS$467.3bUS$47.9b23.3x21.9x2.2x
Thu, 05 Dec 2024US$1.1tUS$467.7bUS$47.8b25.3x23.9x2.4x
Sat, 02 Nov 2024US$1.0tUS$473.7bUS$49.5b23.1x21.1x2.2x
Mon, 30 Sep 2024US$1.1tUS$474.2bUS$49.4b22.3x21.5x2.2x
Wed, 28 Aug 2024US$1.0tUS$474.2bUS$49.3b21.6x20.3x2.1x
Fri, 26 Jul 2024US$980.6bUS$476.8bUS$51.6b21.5x19x2.1x
Sun, 23 Jun 2024US$966.1bUS$476.9bUS$51.6b21.6x18.7x2x
Tue, 21 May 2024US$1.0tUS$477.4bUS$51.3b22.4x20.1x2.2x
Thu, 18 Apr 2024US$1.0tUS$478.1bUS$48.1b22.6x21.2x2.1x
Sat, 16 Mar 2024US$1.0tUS$476.8bUS$48.0b23x21.1x2.1x
Mon, 12 Feb 2024US$978.0bUS$476.7bUS$47.3b22.5x20.7x2.1x
Wed, 10 Jan 2024US$944.4bUS$485.5bUS$47.8b21.7x19.8x1.9x
Fri, 08 Dec 2023US$895.5bUS$483.9bUS$47.8b21.2x18.7x1.9x
Sun, 05 Nov 2023US$853.0bUS$484.2bUS$46.8b19.7x18.2x1.8x
Tue, 03 Oct 2023US$869.5bUS$475.1bUS$44.4b19.9x19.6x1.8x
Thu, 31 Aug 2023US$929.1bUS$475.1bUS$44.5b20.6x20.9x2x
Sat, 29 Jul 2023US$933.7bUS$465.4bUS$41.2b20.7x22.6x2x
Mon, 26 Jun 2023US$871.0bUS$460.9bUS$40.5b19.8x21.5x1.9x
Wed, 24 May 2023US$803.7bUS$460.8bUS$40.5b18.4x19.9x1.7x
Fri, 21 Apr 2023US$823.6bUS$444.7bUS$38.3b19.9x21.5x1.9x
Sun, 19 Mar 2023US$787.5bUS$442.8bUS$38.0b21x20.7x1.8x
Price to Earnings Ratio

20.7x


Total Market Cap: US$787.5bTotal Earnings: US$38.0bTotal Revenue: US$442.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 22.6x202420252026
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 32.5x which is higher than its 3-year average PE of 22.6x.
  • The 3-year average PS ratio of 2.2x 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 4.4% 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-1.47%
Industrials-3.72%
Machinery-4.57%
Agricultural Machinery-3.92%
Construction Machinery and Vehicles-4.14%
Industrial Machinery-5.14%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry, which is trading close to its 3-year average PE ratio of 30.8x.
    • Analysts are expecting annual earnings growth of 14.8%, which is higher than its past year's earnings growth of 5.3% 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 16.9x.
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
VELO Velo3DUS$15.5229.3%
+US$73.6m		444.8%PS6.6x
DDD 3D SystemsUS$2.3917.2%
+US$51.1m		-5.9%PE11.7x
CYD China Yuchai InternationalUS$42.093.3%
+US$50.6m		105.8%PE20.2x
CVGI Commercial Vehicle GroupUS$2.3348.4%
+US$25.7m		53.3%PS0.1x
SXI Standex InternationalUS$257.490.8%
+US$25.2m		49.3%PE57.9x

Latest News

CVGI
US$2.33
Commercial Vehicle Group
7D
48.4%
1Y
53.3%
SXI
US$257.49
Standex International
7D
0.8%
1Y
49.3%

SXI: Future Earnings Assumptions And Buybacks Are Expected To Sustain Balanced Upside

Analysts have lifted their price targets on Standex International by $5, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E that reflect recent research moves from firms that have raised their targets by $26. Analyst Commentary Bullish analysts who lifted their price targets by a combined $26 point to changes in core valuation inputs as the main driver, including updated assumptions for revenue growth, profit margins, the discount rate, and the future P/E multiple applied to Standex International.
CYD
US$42.09
China Yuchai International
7D
3.3%
1Y
105.8%

CYD: High Horsepower Leadership And Diesel Scale Will Support Future Upside

Analysts have lifted their price targets on China Yuchai, with one moving from $28 to $45 and another initiating at $60. These changes reflect updated earnings estimates and views on the company’s position in diesel and high horsepower engines.
DDD
US$2.39
3D Systems
7D
17.2%
1Y
-5.9%
TNC
US$63.28
Tennant
7D
2.0%
1Y
-23.3%
OTIS
US$82.63
Otis Worldwide
7D
-8.8%
1Y
-17.0%
VELO
US$15.52
Velo3D
7D
29.3%
1Y
444.8%
CAT
US$700.69
Caterpillar
7D
-0.8%
1Y
110.2%
PCAR
US$116.82
PACCAR
7D
-5.3%
1Y
18.7%

PCAR: Richer P/E Assumptions Will Likely Struggle Against Truck Downcycle Risk

The analyst price target for PACCAR has been revised higher from $90.00 to about $95.31, as analysts factor in updated assumptions on revenue growth, profit margins, and a higher future P/E, in line with a series of recent target increases across major research firms. Analyst Commentary Recent research updates on PACCAR cluster around higher price targets and refreshed models, but the tone is not uniformly bullish.
WAB
US$240.36
Westinghouse Air Brake Technologies
7D
-4.5%
1Y
36.4%
CMI
US$538.75
Cummins
7D
-3.1%
1Y
72.2%
PH
US$902.17
Parker-Hannifin
7D
-6.6%
1Y
52.5%

PH: Updated Guidance And Share Repurchases Will Support A Measured Outlook

Analysts have nudged their price target for Parker Hannifin higher to around $1,031 from about $1,018, reflecting updated assumptions that include a slightly lower discount rate, a more conservative revenue growth outlook, a higher profit margin, and a modestly higher future P/E multiple. What's in the News Parker-Hannifin updated its earnings guidance for the fiscal year ending June 30, 2026, with reported sales growth now framed in a range of 5.5% to 7.5% and organic sales growth around 5% at the midpoint, along with contributions from acquisitions, divestitures, and favorable currency effects (Key Developments).
MVST
US$2.17
Microvast Holdings
7D
2.4%
1Y
51.7%

MVST: Confident Outlook As Permanent CFO Appointment Will Support Future Upside

Analysts have kept their price target for Microvast Holdings steady at $6.50, citing largely unchanged assumptions around the discount rate, revenue growth, profit margins and future P/E as the basis for maintaining their view. What's in the News Microvast Holdings appointed Rodney Worthen as Chief Financial Officer, effective January 7, 2026, moving him from his interim CFO role into the permanent position (Key Developments).
IR
US$81.17
Ingersoll Rand
7D
-10.3%
1Y
1.5%

IR: Share Buybacks And Margin Assumptions Will Support Stronger Forward Returns

Analysts have maintained their $117 price target for Ingersoll Rand, citing slightly revised assumptions for the discount rate, revenue growth, profit margin, and future P/E as the main factors supporting this unchanged view. What's in the News The company completed its share repurchase program announced on September 1, 2021, buying a total of 24,918,948 shares, or 6.19% of shares outstanding, for US$1,765.13m.
ITW
US$265.62
Illinois Tool Works
7D
-6.0%
1Y
6.1%

ITW: 2026 Guidance And Earnings Delivery Will Shape Fairly Balanced Outlook

The analyst price target for Illinois Tool Works has increased by $2.69, reflecting modest updates to fair value, discount rate, revenue growth, profit margin, and future P/E based on recent price target revisions from major firms. Analyst Commentary Recent research updates on Illinois Tool Works show a cluster of higher price targets from multiple firms, alongside at least one short term cautious call.
EML
US$20.58
Eastern
7D
14.7%
1Y
-23.3%