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U.S. Machinery Industry Analysis

UpdatedDec 15, 2025
DataAggregated Company Financials
Companies190
  • 7D1.1%
  • 3M12.1%
  • 1Y17.2%
  • YTD25.1%

In the last week, the Machinery industry is up 1.1%, with Deere up 4.0%. In the last 12 months, the industry was up 17%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 15 Dec 2025US$1.3tUS$450.8bUS$43.7b26x29.3x2.8x
Wed, 12 Nov 2025US$1.2tUS$449.2bUS$43.8b24.1x28.2x2.7x
Fri, 10 Oct 2025US$1.2tUS$446.9bUS$44.9b23.8x26.3x2.6x
Sun, 07 Sep 2025US$1.1tUS$447.0bUS$44.2b24.6x25.6x2.5x
Tue, 05 Aug 2025US$1.1tUS$447.5bUS$44.6b23.2x24.9x2.5x
Thu, 03 Jul 2025US$1.1tUS$448.4bUS$44.6b23.9x24.5x2.4x
Sat, 31 May 2025US$1.0tUS$449.1bUS$44.6b23.1x23.4x2.3x
Mon, 28 Apr 2025US$955.3bUS$457.2bUS$48.4b20.9x19.7x2.1x
Wed, 26 Mar 2025US$1.0tUS$457.3bUS$47.9b21.4x21.6x2.3x
Fri, 21 Feb 2025US$1.1tUS$458.0bUS$48.0b24.2x23.1x2.4x
Sun, 19 Jan 2025US$1.1tUS$467.3bUS$47.9b23.5x22.9x2.4x
Tue, 17 Dec 2024US$1.1tUS$467.4bUS$47.9b24x23.1x2.4x
Thu, 14 Nov 2024US$1.1tUS$471.6bUS$49.0b24.6x22.6x2.4x
Sat, 12 Oct 2024US$1.1tUS$474.2bUS$49.4b21.5x21.4x2.2x
Mon, 09 Sep 2024US$952.7bUS$474.2bUS$49.4b20.3x19.3x2x
Wed, 07 Aug 2024US$928.2bUS$476.8bUS$50.6b20.8x18.4x1.9x
Fri, 05 Jul 2024US$953.0bUS$476.9bUS$51.6b19.8x18.5x2x
Sun, 02 Jun 2024US$994.6bUS$477.0bUS$51.3b22.8x19.4x2.1x
Tue, 30 Apr 2024US$1.0tUS$478.5bUS$49.6b23x20.5x2.1x
Thu, 28 Mar 2024US$1.1tUS$476.8bUS$47.9b24.2x22.2x2.2x
Sat, 24 Feb 2024US$985.1bUS$476.5bUS$47.5b24.2x20.8x2.1x
Mon, 22 Jan 2024US$942.5bUS$485.5bUS$47.8b22.4x19.7x1.9x
Wed, 20 Dec 2023US$962.5bUS$485.1bUS$47.9b22.5x20.1x2x
Fri, 17 Nov 2023US$871.8bUS$484.0bUS$47.1b20.3x18.5x1.8x
Sun, 15 Oct 2023US$865.1bUS$475.1bUS$44.4b19.9x19.5x1.8x
Tue, 12 Sep 2023US$900.4bUS$475.0bUS$44.4b20.4x20.3x1.9x
Thu, 10 Aug 2023US$943.8bUS$473.3bUS$43.5b20.5x21.7x2x
Sat, 08 Jul 2023US$900.7bUS$459.8bUS$40.2b20.3x22.4x2x
Mon, 05 Jun 2023US$828.8bUS$460.8bUS$40.4b19.2x20.5x1.8x
Wed, 03 May 2023US$818.0bUS$454.2bUS$39.7b19.5x20.6x1.8x
Fri, 31 Mar 2023US$832.9bUS$442.8bUS$38.1b21.5x21.9x1.9x
Sun, 26 Feb 2023US$853.7bUS$442.1bUS$38.0b22.9x22.4x1.9x
Tue, 24 Jan 2023US$844.7bUS$439.6bUS$36.4b22.8x23.2x1.9x
Thu, 22 Dec 2022US$822.9bUS$439.1bUS$35.8b20.9x23x1.9x
Price to Earnings Ratio

23x


Total Market Cap: US$822.9bTotal Earnings: US$35.8bTotal Revenue: US$439.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 21.9x202320242025
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 29.3x which is higher than its 3-year average PE of 21.9x.
  • The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.8x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have grown 6.9% 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-0.59%
Industrials1.04%
Machinery1.14%
Agricultural Machinery2.49%
Industrial Machinery1.85%
Construction Machinery and Vehicles-0.19%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry, which is trading close to its 3-year average PE ratio of 30.4x.
    • Analysts are expecting annual earnings growth of 16.2%, which is higher than its past year's earnings decline of 0.04% 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 16.0x.
Forecasted Growth
  • Analysts are most optimistic on the Industrial Machinery industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings decline of 0.04% per year.
  • In contrast, the Agricultural Machinery industry is expected to see its earnings grow by 14% 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
DE DeereUS$484.804.0%
+US$5.0b		10.6%PE26.1x
ITW Illinois Tool WorksUS$258.024.0%
+US$2.9b		-4.3%PE24.7x
ITT ITTUS$173.822.6%
+US$1.7b		14.6%PE31x
DOV DoverUS$199.124.1%
+US$1.1b		-0.3%PE25.7x
MIDD MiddlebyUS$147.7615.3%
+US$985.8m		7.9%PS1.9x

Latest News

RR
US$4.12
Richtech Robotics
7D
-5.9%
1Y
324.1%

Richtech Robotics: A Small Fish In A Large Pond

Dec 15
ITW
US$258.02
Illinois Tool Works
7D
4.0%
1Y
-4.3%
SXI
US$232.83
Standex International
7D
-1.0%
1Y
14.2%

SXI: Margin Strength In Key Segment May Support Continued Share Upside

Analysts have nudged their price target on Standex International slightly higher to about $261 from approximately $260, citing another healthy quarter marked by strong margins in Amran/Narayan and improving core Electronics growth supported by a book-to-bill above 1 times. Analyst Commentary Bullish analysts view the incremental price target increase as a reflection of solid execution, with recent results reinforcing confidence in Standex International's ability to sustain attractive margins and deliver steady top line expansion.
PCAR
US$111.56
PACCAR
7D
1.7%
1Y
-0.7%
DDD
US$1.90
3D Systems
7D
-10.8%
1Y
-52.0%

DDD: Execution On New Products And Cost Discipline Will Drive Confidence

Analysts have modestly increased their price target for 3D Systems to $4.75 from $4.00, citing a slightly higher assumed future earnings multiple and a marginally higher discount rate while leaving long term growth and margin expectations effectively unchanged. Analyst Commentary Analysts view the modest price target increase as a reflection of slightly improved confidence in 3D Systems' ability to execute on its strategy, while still recognizing meaningful execution and market risks at current levels.
MIDD
US$147.76
Middleby
7D
15.3%
1Y
7.9%

MIDD: Residential Kitchen Review Will Unlock Higher Margin Upside

The analyst price target for Middleby has inched higher to approximately $159 from about $157, as analysts factor in modestly stronger long term revenue growth and a notable uplift in expected profit margins, even as they temper future valuation multiples following recent target revisions and the ongoing review of the Residential Kitchen business. Analyst Commentary Bullish analysts highlight that, despite recent target trims, the balance of research remains constructive on Middleby, with price objectives that sit comfortably above the current trading range and imply continued upside as execution improves.
MVST
US$3.01
Microvast Holdings
7D
-15.7%
1Y
148.8%

MVST: Future Index Inclusion Will Drive Upward Momentum

Analysts have nudged their price target on Microvast Holdings slightly higher to reflect modestly improved valuation assumptions, citing a marginally higher future earnings multiple and a steady outlook for long term revenue growth and profitability. What's in the News Maintained 2025 guidance for revenue growth of 18% to 25% year over year, with revenue expected between $450 million and $475 million (corporate guidance) Recorded an impairment loss on long lived assets of $36,000 for the quarter ended September 30, 2025, up from $12,000 a year earlier (financial filing) Filed a $137.6 million at the market follow-on equity offering of common stock to support funding needs (capital markets filing) Set to showcase fast charging, high performance battery solutions and new MVB and MVC packs for heavy duty and construction applications at BICES 2025 in Beijing (company product announcement) Added to the S&P Global BMI Index, increasing potential visibility among index and passive investors (index provider update) Valuation Changes Fair Value: unchanged at 6.5, reflecting a stable intrinsic value assessment.
ZJK
US$2.40
ZJK Industrial
7D
-16.1%
1Y
-78.2%
ITT
US$173.82
ITT
7D
2.6%
1Y
14.6%
DE
US$484.80
Deere
7D
4.0%
1Y
10.6%

DE: Precision Ag Subscriptions Will Drive Future Earnings Recovery Despite Cyclical Headwinds

Analysts have modestly raised their price target on Deere to approximately $540 from about $535, reflecting increased confidence in the long term earnings power from its expanding Precision Ag subscription base and data enabled ecosystem, even as they acknowledge a near term cyclical downturn and a mixed demand backdrop. Analyst Commentary Recent Street research on Deere reflects a generally constructive stance on the shares, with analysts emphasizing the company’s growing Precision Ag subscription base, data driven offerings, and potential earnings recovery as key drivers of long term value, even as they flag near term cyclical and inventory related risks.
CNH
US$9.90
CNH Industrial
7D
7.1%
1Y
-14.6%

CNH Tariff Pressures Will Moderate As Agricultural Cycle Recovery Emerges By 2026

Analysts have trimmed their price target on CNH Industrial by a few dollars to better reflect modestly softer long term revenue growth and margin expectations, as well as a slightly higher implied future earnings multiple in light of ongoing tariff headwinds and a slower anticipated recovery in the agricultural market. Analyst Commentary Recent Street research reflects a more cautious but still engaged stance from the sell side, with modestly lower price targets framed against ongoing operational execution and the pace of recovery in key end markets.
XYL
US$137.10
Xylem
7D
-0.9%
1Y
13.5%

XYL: Business Optimization Will Drive Future Margin Expansion And Demand Resilience

Xylem's updated analyst price target has inched higher, with fair value estimates rising by about $0.30 to $168.06 as analysts point to better than expected margin progression, ongoing business optimization, and resilient, cycle resistant water infrastructure demand that is supporting gradually higher future multiples. Analyst Commentary Recent Street research skews constructive on Xylem, with a series of price target increases reflecting stronger execution on margins and confidence in the durability of water infrastructure demand.
DOV
US$199.12
Dover
7D
4.1%
1Y
-0.3%
IR
US$81.76
Ingersoll Rand
7D
3.1%
1Y
-18.1%

IR: Share Repurchases And Premium Multiple Will Support Future Performance

Analysts have modestly raised their price target on Ingersoll Rand to align with a fair value estimate of about $87.70 per share, citing a slightly higher discount rate and future P/E assumptions that still support a premium valuation for the company. What's in the News Completed a major share repurchase program originally announced on September 1, 2021, cumulatively buying back 20,932,232 shares (about 5.18% of shares outstanding) for approximately $1.45 billion (company filing).
NPO
US$218.78
Enpro
7D
-1.5%
1Y
14.5%
PDYN
US$4.84
Palladyne AI
7D
-11.5%
1Y
14.4%

Companies Like Palladyne AI (NASDAQ:PDYN) Are In A Position To Invest In Growth

Oct 21
Companies Like Palladyne AI (NASDAQ:PDYN) Are In A Position To Invest In Growth