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U.S. Machinery Industry Analysis

UpdatedJul 09, 2026
DataAggregated Company Financials
Companies189
  • 7D-3.6%
  • 3M2.8%
  • 1Y37.2%
  • YTD19.9%

Over the last 7 days, the Machinery industry has dropped 3.6%, driven by a pullback from Caterpillar of 4.4%. This takes the industry's 12 month performance to a gain of 37%. Earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 09 Jul 2026US$1.5tUS$462.0bUS$43.5b26.5x35.5x3.3x
Sat, 06 Jun 2026US$1.5tUS$489.5bUS$44.8b26.7x34.5x3.2x
Mon, 04 May 2026US$1.5tUS$456.5bUS$44.3b27.5x33.7x3.3x
Wed, 01 Apr 2026US$1.3tUS$451.5bUS$43.6b26.6x30.1x2.9x
Fri, 27 Feb 2026US$1.5tUS$453.2bUS$43.6b28.7x34.5x3.3x
Sun, 25 Jan 2026US$1.4tUS$450.6bUS$43.7b27.1x31.1x3x
Tue, 23 Dec 2025US$1.3tUS$450.8bUS$43.7b25.5x28.8x2.8x
Thu, 20 Nov 2025US$1.2tUS$449.4bUS$43.8b23.3x27x2.6x
Sat, 18 Oct 2025US$1.2tUS$447.0bUS$44.9b24.2x26.4x2.6x
Mon, 15 Sep 2025US$1.1tUS$447.0bUS$44.2b24x25.7x2.5x
Wed, 13 Aug 2025US$1.1tUS$447.9bUS$44.7b23.8x25x2.5x
Fri, 11 Jul 2025US$1.1tUS$449.5bUS$44.6b23.8x25x2.5x
Sun, 08 Jun 2025US$1.1tUS$449.1bUS$44.5b23.3x23.7x2.4x
Tue, 06 May 2025US$990.0bUS$451.8bUS$45.3b21.7x21.9x2.2x
Thu, 03 Apr 2025US$1.0tUS$457.3bUS$48.2b20.9x20.8x2.2x
Sat, 01 Mar 2025US$1.1tUS$458.2bUS$48.0b22.2x22.1x2.3x
Mon, 27 Jan 2025US$1.1tUS$467.3bUS$47.9b23.9x23.3x2.4x
Wed, 25 Dec 2024US$1.1tUS$467.6bUS$47.9b22.7x22.1x2.3x
Fri, 22 Nov 2024US$1.1tUS$471.7bUS$49.1b24.4x22.4x2.3x
Sun, 20 Oct 2024US$1.1tUS$474.2bUS$49.4b21.9x21.8x2.3x
Tue, 17 Sep 2024US$991.3bUS$474.2bUS$49.6b21.3x20x2.1x
Thu, 15 Aug 2024US$956.9bUS$476.8bUS$50.2b20.9x19x2x
Sat, 13 Jul 2024US$974.9bUS$476.7bUS$51.6b20.9x18.9x2x
Mon, 10 Jun 2024US$949.2bUS$477.0bUS$51.3b22x18.5x2x
Wed, 08 May 2024US$1.0tUS$479.1bUS$51.7b21.9x19.7x2.1x
Fri, 05 Apr 2024US$1.1tUS$478.4bUS$48.1b23.7x22.1x2.2x
Sun, 03 Mar 2024US$1.0tUS$477.3bUS$47.3b24.6x21.2x2.1x
Tue, 30 Jan 2024US$962.1bUS$486.4bUS$48.3b23.1x19.9x2x
Thu, 28 Dec 2023US$976.8bUS$484.9bUS$47.8b23x20.4x2x
Sat, 25 Nov 2023US$884.7bUS$484.0bUS$47.7b20.4x18.6x1.8x
Mon, 23 Oct 2023US$834.1bUS$475.2bUS$44.4b19x18.8x1.8x
Wed, 20 Sep 2023US$890.0bUS$475.0bUS$44.4b20.6x20.1x1.9x
Fri, 18 Aug 2023US$912.0bUS$473.4bUS$43.4b19.8x21x1.9x
Sun, 16 Jul 2023US$928.6bUS$459.8bUS$40.2b20.7x23.1x2x
Price to Earnings Ratio

23.1x


Total Market Cap: US$928.6bTotal Earnings: US$40.2bTotal Revenue: US$459.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 24x202420252026
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 35.5x which is higher than its 3-year average PE of 24.0x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 3.3x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have grown 2.6% 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-0.43%
Industrials-2.50%
Machinery-3.64%
Construction Machinery and Vehicles-3.41%
Industrial Machinery-3.52%
Agricultural Machinery-4.86%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 20.8x.
    • Analysts are expecting annual earnings growth of 17.3%, which is higher than its past year's earnings decline of 5.1% 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 18.8x.
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
PCAR PACCARUS$122.501.0%
+US$663.1m		24.2%PE26x
OTIS Otis WorldwideUS$72.072.0%
+US$548.7m		-27.5%PE18.7x
XYL XylemUS$118.621.2%
+US$320.9m		-9.8%PE28.7x
RAIL FreightCar AmericaUS$8.15-15.1%
US$83.4m		-30.1%PE9.2x
EPAC Enerpac Tool GroupUS$36.464.4%
+US$78.3m		-4.0%PE20.1x

Latest News

CAT
US$948.08
Caterpillar
7D
-4.4%
1Y
135.7%
ITW
US$265.10
Illinois Tool Works
7D
-1.4%
1Y
2.1%
TRN
US$34.15
Trinity Industries
7D
0.8%
1Y
22.2%
WTS
US$348.05
Watts Water Technologies
7D
-8.7%
1Y
35.7%
EPAC
US$36.46
Enerpac Tool Group
7D
4.4%
1Y
-4.0%
GTLS
US$209.35
Chart Industries
7D
0.3%
1Y
24.0%
RAIL
US$8.15
FreightCar America
7D
-15.1%
1Y
-30.1%
PCAR
US$122.50
PACCAR
7D
1.0%
1Y
24.2%
Narrative Update • Jul 08

PCAR: Secular Truck Demand And Easing Taxes Will Support Higher Margins

The analyst price target for PACCAR has been revised from $150 to $140, as analysts adjust their views on fair value and future P/E while citing a mixed set of recent price target changes across the Street. Analyst Commentary Recent research on PACCAR reflects a mixed but increasingly constructive tone, with several bullish analysts lifting price targets as they update models ahead of upcoming earnings events and sector reviews.
CYD
US$47.08
China Yuchai International
7D
1.7%
1Y
97.6%
OTIS
US$72.07
Otis Worldwide
7D
2.0%
1Y
-27.5%
Narrative Update • Jul 07

OTIS: New Modernisation Push Will Drive Longer Term Upside Potential

The analyst price target for Otis Worldwide has been adjusted from $77 to $83, reflecting updated views from analysts who are weighing concerns about near term guidance against more positive opinions tied to new product traction, cross sell efforts, and perceived longer term growth potential. Analyst Commentary Recent research on Otis Worldwide highlights a split in opinion, with some firms expressing confidence in new product launches and cross sell initiatives, while bearish analysts focus on execution risks and the achievability of management guidance.
CMI
US$669.21
Cummins
7D
-1.9%
1Y
100.0%
Seeking Alpha • Jul 06

Cummins: The Downcycle Is Ending, And The Upside Is Building

Summary Cummins (CMI) is well-positioned for Q2 upside as North America on-highway markets exit their cyclical downturn, supporting a continued Buy rating. Q2 earnings are set up for a material beat, with modeled EPS of $8.28 versus Street at $7.24, driven by accelerating Engine and Components growth. CMI's 2030 roadmap targets $45–$50B revenue and 20% EBITDA margin, implying 8% annual top-line growth and 50bps yearly margin expansion. I see 28% upside to a $850 price target, expecting CMI to re-rate to a high-20s P/E as earnings compound and cyclical recovery strengthens. Read the full article on Seeking Alpha
PH
US$939.13
Parker-Hannifin
7D
-2.6%
1Y
32.7%
Narrative Update • Jul 06

PH: Future Upside Will Rely On Dividend Strength And Filtration Expansion

Analysts have lifted their price target for Parker-Hannifin to about $1,259 from roughly $1,168, citing updated assumptions around slightly higher revenue growth, a revised discount rate, a modestly lower profit margin, and a higher future P/E multiple. What’s in the News for Parker-Hannifin Parker-Hannifin has raised its dividend every year since 1956, reaching a streak of 70 consecutive fiscal years, according to recent coverage.
XYL
US$118.62
Xylem
7D
1.2%
1Y
-9.8%
IR
US$76.71
Ingersoll Rand
7D
-5.1%
1Y
-12.5%
DE
US$596.74
Deere
7D
-4.9%
1Y
17.2%
Narrative Update • Jul 01

DE: Tariff Relief And AI Efficiency Gains Will Support Future Upside

Analysts have trimmed their fair value estimate for Deere to $759 from $793 as they factor in more moderate revenue growth assumptions, even as Street research highlights potential tariff relief and a mixed pattern of price target revisions across the sector. Analyst Commentary Street research on Deere is mixed, but there is a clear camp of bullish analysts highlighting tariff relief, execution on recent quarters, and the potential for a more constructive backdrop in North American agriculture and construction equipment over the next several years.
MIDD
US$132.22
Middleby
7D
-23.0%
1Y
-11.1%