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U.S. Machinery Industry Analysis

UpdatedMar 18, 2026
DataAggregated Company Financials
Companies183
  • 7D-2.6%
  • 3M10.4%
  • 1Y36.0%
  • YTD7.8%

Over the last 7 days, the Machinery industry has dropped 2.6%, driven by declines in Parker-Hannifin and Caterpillar of 6.0% and 2.0%, respectively. Over the past 12 months, the industry was up 36%. 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
Wed, 18 Mar 2026US$1.4tUS$451.5bUS$43.3b26.4x31.6x3x
Fri, 13 Feb 2026US$1.5tUS$447.2bUS$42.9b29.9x35.4x3.4x
Sun, 11 Jan 2026US$1.3tUS$450.7bUS$43.7b26.3x30.5x3x
Tue, 09 Dec 2025US$1.3tUS$450.7bUS$43.7b25.1x28.9x2.8x
Thu, 06 Nov 2025US$1.2tUS$448.6bUS$44.7b23.9x26.9x2.7x
Sat, 04 Oct 2025US$1.2tUS$447.0bUS$44.2b24.5x26.6x2.6x
Mon, 01 Sep 2025US$1.1tUS$447.0bUS$44.2b24.1x25.6x2.5x
Wed, 30 Jul 2025US$1.1tUS$448.7bUS$44.5b23.2x25.7x2.5x
Fri, 27 Jun 2025US$1.1tUS$449.2bUS$44.6b24x23.8x2.4x
Sun, 25 May 2025US$1.0tUS$449.1bUS$44.6b23.1x23.1x2.3x
Tue, 22 Apr 2025US$915.5bUS$457.0bUS$48.6b19.1x18.8x2x
Thu, 20 Mar 2025US$1.0tUS$457.3bUS$47.9b22x21.4x2.2x
Sat, 15 Feb 2025US$1.1tUS$458.2bUS$48.0b23.8x22.7x2.4x
Mon, 13 Jan 2025US$1.0tUS$463.7bUS$47.7b22.9x21.5x2.2x
Wed, 11 Dec 2024US$1.1tUS$467.6bUS$47.8b24.7x23.7x2.4x
Fri, 08 Nov 2024US$1.1tUS$472.9bUS$49.2b25.4x23x2.4x
Sun, 06 Oct 2024US$1.1tUS$474.2bUS$49.4b21.9x21.5x2.2x
Tue, 03 Sep 2024US$1.0tUS$474.2bUS$49.3b21.5x20.5x2.1x
Thu, 01 Aug 2024US$1.0tUS$476.1bUS$50.4b22.4x20x2.1x
Sat, 29 Jun 2024US$961.0bUS$476.9bUS$51.6b21.4x18.6x2x
Mon, 27 May 2024US$1.0tUS$477.0bUS$51.3b22x19.7x2.1x
Wed, 24 Apr 2024US$1.0tUS$478.0bUS$48.1b23.2x21.4x2.2x
Fri, 22 Mar 2024US$1.0tUS$476.8bUS$48.0b23.5x21.7x2.2x
Sun, 18 Feb 2024US$975.9bUS$476.7bUS$47.4b22.9x20.6x2x
Tue, 16 Jan 2024US$939.8bUS$485.5bUS$47.8b22.2x19.7x1.9x
Thu, 14 Dec 2023US$907.4bUS$485.1bUS$47.8b21.8x19x1.9x
Sat, 11 Nov 2023US$834.3bUS$484.4bUS$47.2b19.9x17.7x1.7x
Mon, 09 Oct 2023US$865.8bUS$475.1bUS$44.4b19.6x19.5x1.8x
Wed, 06 Sep 2023US$915.4bUS$475.1bUS$44.5b20.1x20.6x1.9x
Fri, 04 Aug 2023US$950.6bUS$472.5bUS$43.4b20.7x21.9x2x
Sun, 02 Jul 2023US$906.9bUS$459.8bUS$40.2b20.6x22.6x2x
Tue, 30 May 2023US$802.7bUS$460.8bUS$40.4b18x19.9x1.7x
Thu, 27 Apr 2023US$799.5bUS$446.7bUS$38.4b19.2x20.8x1.8x
Sat, 25 Mar 2023US$802.5bUS$442.9bUS$38.1b21.4x21.1x1.8x
Price to Earnings Ratio

21.1x


Total Market Cap: US$802.5bTotal Earnings: US$38.1bTotal Revenue: US$442.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 22.7x202420252026
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 31.6x which is higher than its 3-year average PE of 22.7x.
  • The 3-year average PS ratio of 2.2x 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 4.4% 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-0.97%
Industrials-1.86%
Machinery-2.61%
Industrial Machinery-2.46%
Construction Machinery and Vehicles-2.53%
Agricultural Machinery-3.32%
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 14.9%, 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 17.0x.
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
SYM SymboticUS$52.515.3%
+US$330.7m		150.2%PS2.8x
DOV DoverUS$212.230.9%
+US$254.9m		16.4%PE26.1x
CECO CECO EnvironmentalUS$56.282.5%
+US$49.6m		132.4%PE40.1x
CVGI Commercial Vehicle GroupUS$3.3665.5%
+US$45.5m		118.2%PS0.2x
BLBD Blue BirdUS$54.492.0%
+US$33.8m		56.0%PE13.3x

Latest News

ITW
US$260.74
Illinois Tool Works
7D
-4.0%
1Y
1.8%
WAB
US$237.79
Westinghouse Air Brake Technologies
7D
-3.3%
1Y
28.1%

WAB: Larger Buybacks And Steady Dividends Will Support Future Returns

Analysts have raised their price target for Westinghouse Air Brake Technologies to $289.75 from $286.83, reflecting updated views on fair value along with revised assumptions for revenue growth, profit margins, the discount rate, and future P/E. What's in the News Progress Rail and Wabtec reached a settlement in the Progress Rail v.
DOV
US$212.23
Dover
7D
0.9%
1Y
16.4%
CVGI
US$3.36
Commercial Vehicle Group
7D
65.5%
1Y
118.2%
OTIS
US$78.53
Otis Worldwide
7D
-7.2%
1Y
-23.6%
INLF
US$0.37
INLIF
7D
11.8%
1Y
-81.2%
CAT
US$693.62
Caterpillar
7D
-2.0%
1Y
104.8%
ALSN
US$113.27
Allison Transmission Holdings
7D
0.08%
1Y
14.2%

ALSN: Q4 Execution And Off Highway Demand Will Shape Balanced Risk Reward

The analyst price target for Allison Transmission has increased to about $130 from roughly $115. Analysts point to stronger than expected Q4 results driven by cost reductions and pricing, as well as steady contributions from off highway end markets.
PCAR
US$114.69
PACCAR
7D
-2.9%
1Y
15.2%

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.
SYM
US$52.51
Symbotic
7D
5.3%
1Y
150.2%

SYM: Backlog Conversion And Margin Execution Will Test Premium Expectations

Our Symbotic price target remains steady at $40, even as analysts point to a slightly lower discount rate, modestly higher modeled revenue growth and profit margins, and a somewhat lower future P/E. This view is supported by recent research that highlights a $22.3b backlog, efficiency gains, and potential new vertical catalysts.
CECO
US$56.28
CECO Environmental
7D
2.5%
1Y
132.4%

CECO: Thermon Deal And Record Backlog Will Support Medium Term Upside

The analyst price target for Ceco Environmental has increased from about $64 to roughly $78.83. Analysts cite the Thermon acquisition and recent research highlighting record metrics, a more diversified business mix, and potential scale benefits as key drivers behind the updated view.
DE
US$571.02
Deere
7D
-3.9%
1Y
19.1%

DE: Construction Strength And Large Ag Recovery Will Support Future Earnings Momentum

We are nudging our fair value estimate for Deere up from $630 to about $666 per share, reflecting analysts' higher price targets following a strong Q1 beat, healthier Large Ag order trends, and better support from Construction and Small Ag/Turf, even as views differ on how much of the next cycle is already priced in. Analyst Commentary Street research after Deere's Q1 report reflects a mix of enthusiasm about execution and caution around how much optimism is already embedded in the share price.
CMI
US$543.29
Cummins
7D
-2.3%
1Y
66.1%
PH
US$912.40
Parker-Hannifin
7D
-3.0%
1Y
44.8%

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).
BLBD
US$54.49
Blue Bird
7D
2.0%
1Y
56.0%

BLBD: Incremental Price Hikes And Buybacks Will Still Restrain Further Upside

The analyst price target for Blue Bird has increased by a few dollars to incorporate updated views on the discount rate, revenue growth, profit margin and future P/E assumptions. Recent target increases of $3, $5 and $8 from several firms have helped support the revised range.
EML
US$20.13
Eastern
7D
5.1%
1Y
-24.6%