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U.S. Machinery Industry Analysis

UpdatedMay 28, 2026
DataAggregated Company Financials
Companies194
  • 7D1.7%
  • 3M-1.6%
  • 1Y42.0%
  • YTD15.8%

In the last week, the Machinery industry is up 1.7%, with Caterpillar up 4.3%. During this same period, the Deere underperformed, falling 5.5%. This means that the industry has gained 42% over the past year. 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, 28 May 2026US$1.5tUS$461.8bUS$43.6b26.8x33.9x3.2x
Sat, 25 Apr 2026US$1.5tUS$452.4bUS$43.6b27.7x34.7x3.3x
Mon, 23 Mar 2026US$1.3tUS$451.7bUS$43.4b25.9x30.7x3x
Wed, 18 Feb 2026US$1.5tUS$448.2bUS$42.9b30.1x35.2x3.4x
Fri, 16 Jan 2026US$1.4tUS$450.7bUS$43.7b27.6x31.1x3x
Sun, 14 Dec 2025US$1.3tUS$450.8bUS$43.7b26x29.4x2.8x
Tue, 11 Nov 2025US$1.2tUS$449.2bUS$43.9b24x28x2.7x
Thu, 09 Oct 2025US$1.2tUS$447.0bUS$44.9b24.2x26.1x2.6x
Sat, 06 Sep 2025US$1.1tUS$447.0bUS$44.2b24.6x25.6x2.5x
Mon, 04 Aug 2025US$1.1tUS$447.5bUS$44.6b22.7x24.9x2.5x
Wed, 02 Jul 2025US$1.1tUS$449.2bUS$44.6b24x24.4x2.4x
Fri, 30 May 2025US$1.0tUS$449.1bUS$44.6b23.4x23.4x2.3x
Sun, 27 Apr 2025US$955.3bUS$457.2bUS$48.4b20.9x19.7x2.1x
Tue, 25 Mar 2025US$1.0tUS$457.3bUS$47.9b22x21.2x2.2x
Thu, 20 Feb 2025US$1.1tUS$458.2bUS$48.0b24.2x22.7x2.4x
Sat, 18 Jan 2025US$1.1tUS$467.3bUS$47.9b23.5x22.7x2.3x
Mon, 16 Dec 2024US$1.1tUS$467.4bUS$47.9b24x23.1x2.4x
Wed, 13 Nov 2024US$1.1tUS$471.6bUS$49.0b24.7x22.9x2.4x
Fri, 11 Oct 2024US$1.1tUS$474.2bUS$49.4b21.1x21.4x2.2x
Sun, 08 Sep 2024US$952.7bUS$474.2bUS$49.4b20.3x19.3x2x
Tue, 06 Aug 2024US$948.5bUS$476.8bUS$50.6b20.9x18.8x2x
Thu, 04 Jul 2024US$953.3bUS$476.9bUS$51.6b19.8x18.5x2x
Sat, 01 Jun 2024US$984.7bUS$477.0bUS$51.3b22.8x19.2x2.1x
Mon, 29 Apr 2024US$1.0tUS$478.5bUS$49.6b23.2x20.5x2.1x
Wed, 27 Mar 2024US$1.0tUS$476.8bUS$48.0b23.7x21.8x2.2x
Fri, 23 Feb 2024US$970.7bUS$476.3bUS$47.3b23.4x20.5x2x
Sun, 21 Jan 2024US$938.6bUS$485.5bUS$47.8b22.4x19.6x1.9x
Tue, 19 Dec 2023US$947.6bUS$485.2bUS$47.9b22.1x19.8x2x
Thu, 16 Nov 2023US$870.8bUS$484.4bUS$47.2b20.5x18.5x1.8x
Sat, 14 Oct 2023US$865.1bUS$475.1bUS$44.4b19.9x19.5x1.8x
Mon, 11 Sep 2023US$882.3bUS$475.0bUS$44.4b20.5x19.9x1.9x
Wed, 09 Aug 2023US$946.3bUS$473.2bUS$43.5b20.7x21.8x2x
Fri, 07 Jul 2023US$886.0bUS$459.8bUS$40.2b20.2x22x1.9x
Sun, 04 Jun 2023US$828.8bUS$460.8bUS$40.4b19.2x20.5x1.8x
Price to Earnings Ratio

20.5x


Total Market Cap: US$828.8bTotal Earnings: US$40.4bTotal Revenue: US$460.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 23.5x202420252026
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 33.9x which is higher than its 3-year average PE of 23.5x.
  • The 3-year average PS ratio of 2.3x is lower than the industry's current PS ratio of 3.2x.
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 Market1.27%
Industrials2.40%
Machinery1.69%
Construction Machinery and Vehicles2.99%
Industrial Machinery2.13%
Agricultural Machinery-4.37%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 20.0x.
    • Analysts are expecting annual earnings growth of 16.9%, 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 18.1x.
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 17% 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
CAT CaterpillarUS$909.934.3%
+US$17.2b		160.4%PE44.4x
SWK Stanley Black & DeckerUS$79.466.0%
+US$696.4m		20.1%PE33.3x
TKR TimkenUS$127.168.5%
+US$692.2m		82.7%PE28.7x
NDSN NordsonUS$288.744.5%
+US$680.6m		47.5%PE30.5x
FLS FlowserveUS$72.976.9%
+US$599.4m		44.5%PE26.3x

Latest News

TKR
US$127.16
Timken
7D
8.5%
1Y
82.7%
Seeking Alpha • 17h

The Timken Company: A Real Sense Of Urgency Is Driving Shares Here

Summary The Timken Company has surged 35% to $127 on strong momentum, ambitious 2028 targets, and accretive portfolio actions. Timken's 2028 guidance calls for mid-single-digit sales CAGR and over 50% earnings growth, driven by significant margin expansion. The recent divestiture of the loss-making belt business is expected to immediately boost industrial motion segment margins by 2 points. I remain impressed by management’s renewed focus on value creation but see no need to chase shares after the rapid rally. Read the full article on Seeking Alpha
CAT
US$909.93
Caterpillar
7D
4.3%
1Y
160.4%
AGCO
US$114.28
AGCO
7D
-0.4%
1Y
12.1%
KMT
US$34.76
Kennametal
7D
-2.8%
1Y
61.5%
WTS
US$314.80
Watts Water Technologies
7D
5.2%
1Y
30.5%
TRN
US$32.14
Trinity Industries
7D
-4.8%
1Y
25.7%
PH
US$856.68
Parker-Hannifin
7D
-0.3%
1Y
28.6%
Narrative Update • May 25

PH: Rising Dividend And Buybacks Will Support A Constructive Long Term View

Analysts have raised their price target for Parker-Hannifin slightly to $1,033.75 from $1,030.95, citing updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. What’s in the News Parker-Hannifin raised earnings guidance for the fiscal year ending June 30, 2026, now expecting reported sales growth of 7% and earnings of about $27.10 per diluted share (company guidance).
FLS
US$72.97
Flowserve
7D
6.9%
1Y
44.5%
Narrative Update • May 24

FLS: Activist Pressure And Margin Execution Will Support Future Upside

Analysts have trimmed the Flowserve price target by $5 to $83, reflecting updated assumptions on discount rate, revenue growth, profit margins, and future P/E after a mixed series of recent target changes across the Street. Analyst Commentary Recent research updates on Flowserve have leaned cautious, with several firms trimming price targets over the past few weeks.
DE
US$529.39
Deere
7D
-5.5%
1Y
4.2%
Seeking Alpha • May 24

Deere: The Hard Part May Already Be Over

Summary Deere is rated Buy, viewed as undervalued, with strong AI-driven and cyclical tailwinds supporting double-digit growth and potential benchmark outperformance. DE posted its fifth consecutive double-beat, with small ag & turf and construction & forestry segments delivering 16% and 29% YoY sales growth, respectively. Management anticipates 15–20% sales growth in key segments and margin expansion, while share repurchases and debt reduction remain priorities. Risks include continued weakness in production & precision ag, high leverage, and macro uncertainty, but long-term upside is supported by AI and rate cut catalysts. Read the full article on Seeking Alpha
SWK
US$79.46
Stanley Black & Decker
7D
6.0%
1Y
20.1%
ITW
US$250.29
Illinois Tool Works
7D
-0.2%
1Y
2.6%
Narrative Update • May 23

ITW: AI Hardware Risk And 2026 Margin Guidance Will Shape Outlook

Illinois Tool Works' analyst price target has shifted modestly lower by $1 to $274.54, as analysts weigh mixed target revisions alongside updated assumptions around discount rates, revenue growth, profit margins, and future P/E expectations. Analyst Commentary Recent research shows a mix of cautious and constructive views on Illinois Tool Works, with several firms adjusting price targets in both directions and reassessing assumptions around growth, margins, and valuation multiples.
NDSN
US$288.74
Nordson
7D
4.5%
1Y
47.5%
CMI
US$667.85
Cummins
7D
-0.3%
1Y
106.7%
MIDD
US$154.44
Middleby
7D
7.7%
1Y
4.4%
Narrative Update • May 18

MIDD: CFS Refocus And Residential Spinoff Will Drive Future Upside Potential

Analysts have nudged their fair value estimate for Middleby to $206 from $203, reflecting updated expectations around revenue growth, profit margins, and recent price target increases from firms that have adjusted their models following the Residential Kitchen spinoff and the company’s renewed focus on the core CFS business. Analyst Commentary Recent Street research around Middleby has centered on how the Residential Kitchen spinoff and the sharpened focus on the Commercial Foodservice, or CFS, business feed into valuation work and price target resets.
PNR
US$72.45
Pentair
7D
-2.3%
1Y
-26.7%
Narrative Update • May 15

PNR: Cash Returns And Margin Discipline Will Support Reset Expectations

Pentair's analyst price target has been updated from $110.00 to about $102.26, reflecting a series of recent target cuts by multiple firms as analysts factor in modestly adjusted growth, margins, discount rate and future P/E assumptions. Analyst Commentary Recent Street research around Pentair centers on a cluster of price target trims, with analysts reassessing what they are willing to pay for the stock based on updated assumptions around growth, margins, discount rates and future P/E multiples.
SPXC
US$215.34
SPX Technologies
7D
4.8%
1Y
41.3%
Narrative Update • May 04

SPXC: Capacity Expansion And Data Center Demand Will Support Future Upside

Analysts have modestly lifted the SPX Technologies fair value estimate by about $6 to roughly $264 per share. The update reflects revised views that factor in stronger revenue growth, slightly higher profit margins, and a lower assumed future P/E multiple following a series of recent price target hikes and upgrades across the Street.