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U.S. Machinery Industry Analysis

UpdatedJun 10, 2026
DataAggregated Company Financials
Companies192
  • 7D1.4%
  • 3M7.3%
  • 1Y41.7%
  • YTD18.1%

The Machinery industry is up 1.4% in the last week, with Parker-Hannifin up 8.3%. In the same time, Symbotic was down 13%. This takes the industry's 12 month performance to a gain of 42%. Earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 10 Jun 2026US$1.5tUS$489.4bUS$44.9b27.1x34.1x3.1x
Fri, 08 May 2026US$1.5tUS$460.5bUS$44.0b28x34.1x3.3x
Sun, 05 Apr 2026US$1.4tUS$451.5bUS$43.6b26.2x31.6x3.1x
Tue, 03 Mar 2026US$1.5tUS$450.0bUS$43.2b28.4x34.5x3.3x
Thu, 29 Jan 2026US$1.4tUS$449.6bUS$43.4b27.2x31.4x3x
Sat, 27 Dec 2025US$1.3tUS$450.8bUS$43.7b25.6x29.1x2.8x
Mon, 24 Nov 2025US$1.2tUS$449.1bUS$43.9b23.7x27.6x2.7x
Wed, 22 Oct 2025US$1.2tUS$445.5bUS$44.6b24.6x26.7x2.7x
Fri, 19 Sep 2025US$1.1tUS$447.0bUS$44.2b24.2x25.8x2.5x
Sun, 17 Aug 2025US$1.1tUS$446.8bUS$44.2b23.7x25.3x2.5x
Tue, 15 Jul 2025US$1.1tUS$449.5bUS$44.6b23.4x25.1x2.5x
Thu, 12 Jun 2025US$1.1tUS$449.1bUS$44.5b23.3x23.9x2.4x
Sat, 10 May 2025US$1.0tUS$451.6bUS$45.3b22.1x22.1x2.2x
Mon, 07 Apr 2025US$887.8bUS$457.1bUS$48.6b18.6x18.3x1.9x
Wed, 05 Mar 2025US$1.0tUS$458.2bUS$48.0b21.4x21.6x2.3x
Fri, 31 Jan 2025US$1.1tUS$462.7bUS$47.6b23.5x23.3x2.4x
Sun, 29 Dec 2024US$1.1tUS$467.6bUS$47.9b22.6x22x2.2x
Tue, 26 Nov 2024US$1.1tUS$467.6bUS$48.0b25.7x23.5x2.4x
Thu, 24 Oct 2024US$1.1tUS$474.1bUS$49.3b21.2x21.5x2.2x
Sat, 21 Sep 2024US$1.0tUS$474.2bUS$49.4b21.4x21.1x2.2x
Mon, 19 Aug 2024US$978.5bUS$474.2bUS$49.0b21.3x20x2.1x
Wed, 17 Jul 2024US$1.0tUS$476.7bUS$51.6b22x19.4x2.1x
Fri, 14 Jun 2024US$976.7bUS$477.0bUS$51.3b22.3x19x2x
Sun, 12 May 2024US$1.0tUS$479.5bUS$51.8b22.2x20x2.2x
Tue, 09 Apr 2024US$1.1tUS$478.2bUS$48.1b23.6x22.2x2.2x
Thu, 07 Mar 2024US$994.0bUS$477.3bUS$47.4b24.5x21x2.1x
Sat, 03 Feb 2024US$991.8bUS$485.3bUS$48.3b23.1x20.6x2x
Mon, 01 Jan 2024US$969.0bUS$484.8bUS$47.9b22.8x20.2x2x
Wed, 29 Nov 2023US$883.5bUS$484.0bUS$47.7b20.3x18.5x1.8x
Fri, 27 Oct 2023US$822.7bUS$478.0bUS$45.4b18.2x18.1x1.7x
Sun, 24 Sep 2023US$868.8bUS$475.0bUS$44.4b19.8x19.6x1.8x
Tue, 22 Aug 2023US$897.3bUS$475.1bUS$44.5b19.8x20.2x1.9x
Thu, 20 Jul 2023US$954.6bUS$459.8bUS$40.2b20.8x23.7x2.1x
Sat, 17 Jun 2023US$894.8bUS$460.9bUS$40.5b20.1x22.1x1.9x
Price to Earnings Ratio

22.1x


Total Market Cap: US$894.8bTotal Earnings: US$40.5bTotal Revenue: US$460.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 23.6x202420252026
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 34.1x which is higher than its 3-year average PE of 23.6x.
  • The 3-year average PS ratio of 2.3x 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 3.5% per year over the last three years.
  • Revenues for these companies have grown 2.0% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Industrials industry?

US Market-3.33%
Industrials-0.29%
Machinery1.44%
Industrial Machinery2.47%
Construction Machinery and Vehicles1.07%
Agricultural Machinery-0.52%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 20.3x.
    • Analysts are expecting annual earnings growth of 16.1%, which is higher than its past year's earnings decline of 5.5% 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 18.3x.
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
PH Parker-HannifinUS$905.538.3%
+US$8.7b		35.0%PE32.8x
PCAR PACCARUS$119.696.0%
+US$3.6b		26.3%PE25.4x
ITW Illinois Tool WorksUS$256.553.2%
+US$2.3b		3.0%PE23.6x
CAT CaterpillarUS$914.700.5%
+US$2.3b		155.1%PE44.7x
DOV DoverUS$220.974.3%
+US$1.2b		21.9%PE27.1x

Latest News

PH
US$905.53
Parker-Hannifin
7D
8.3%
1Y
35.0%
Narrative Update • Jun 08

PH: Aerospace Acquisition And Dividend Streak Will Support Constructive Long Term View

Analysts have made a slight adjustment to their Parker Hannifin view, trimming the fair value estimate from $1,033.75 to $1,032.50 as small tweaks to discount rate, revenue growth, profit margin and future P/E assumptions offset each other. What's in the News Parker Hannifin agreed to acquire CIRCOR Aerospace from KKR for US$2.55b in cash, adding flight critical motion and flow control systems and related technologies for commercial and defense platforms (source: recent deal announcement).
ITW
US$256.55
Illinois Tool Works
7D
3.2%
1Y
3.0%
Narrative Update • Jun 07

ITW: 2026 Margin Outlook And Dividend Strength Will Guide Fairly Valued Shares

Narrative Update Overview The analyst price target for Illinois Tool Works is now set around $274.54. This reflects mixed revisions from recent Street research, with some firms cutting targets by $8 to $25 and others raising theirs by $1 to $10, as analysts weigh updated assumptions on discount rates, long-term P/E, and the broader earnings profile for the company.
CNH
US$10.74
CNH Industrial
7D
-1.9%
1Y
-16.6%
Narrative Update • Jun 06

CNH: Tariff Relief And Construction Projects Will Support 2026 Recovery

CNH Industrial's analyst price target has been nudged slightly lower to around $13.31 from about $13.36, as analysts balance modest adjustments to their fair value and P/E assumptions with expectations that lower U.S. agricultural equipment tariffs could offer an incremental earnings tailwind. Analyst Commentary Recent research points to a mixed setup for CNH Industrial, with tariff relief viewed as a modest earnings support, while several firms trim price targets or ratings as they reassess valuation and execution risks.
CMI
US$669.23
Cummins
7D
-0.5%
1Y
104.7%
DE
US$577.33
Deere
7D
-0.3%
1Y
11.9%
CAT
US$914.70
Caterpillar
7D
0.5%
1Y
155.1%
Narrative Update • Jun 05

CAT: AI Power Projects And Tariff Relief Will Likely Cap Future Upside

Caterpillar's analyst price target has shifted from $575 to about $670 as analysts factor in Street research highlighting stronger demand expectations across power generation, construction, mining, and oil and gas, along with higher projected revenue growth, profit margins, and future P/E assumptions. Analyst Commentary Recent Street research on Caterpillar has leaned constructive on the demand outlook in power generation, construction, mining, and oil and gas, with several firms lifting price targets to reflect stronger earnings assumptions and higher P/E multiples.
CR
US$200.92
Crane
7D
7.7%
1Y
7.6%
Narrative Update • Jun 05

CR: Acquisition Momentum And Margin Strength Will Support Premium Future P/E

Analysts have trimmed their price target on Crane to $235 from $238, citing updated assumptions that combine slightly lower projected revenue growth and P/E with a modestly higher profit margin outlook and discount rate. What's in the News Crane reported Q1 revenue up 24.9% year on year, coming in 3.8% above analyst expectations, with adjusted EPS up 15% in the quarter, according to recent coverage of general industrial machinery stocks Q1 results.
KAI
US$293.53
Kadant
7D
-8.7%
1Y
-12.0%
Narrative Update • Jun 05

KAI: Buybacks And Dividend Growth Will Support A Steady Outlook

Analysts now see Kadant's fair value steady at $306, with minor adjustments to discount rate, revenue growth, profit margin, and future P/E assumptions informing this updated price target estimate. What's in the News Kadant's Board of Directors authorized a new share repurchase plan on May 21, 2026, allowing the company to buy back its stock.
FTV
US$62.78
Fortive
7D
4.4%
1Y
-13.6%
Narrative Update • Jun 04

FTV: Buybacks And Sequential Execution Will Support Future EPS Upside

Fortive's analyst price target is modestly higher, with recent Street research pointing to a series of $1 to $7 upward target revisions as analysts highlight sequential growth and adjust assumptions around revenue, margins, and future P/E multiples. Analyst Commentary Recent Street research on Fortive has leaned constructive, with several bullish analysts adjusting targets upward and one trimming a target by a small amount.
PCAR
US$119.69
PACCAR
7D
6.0%
1Y
26.3%
Narrative Update • Jun 04

PCAR: Future Returns Will Balance Truck Demand Cycles And Powertrain Technology Shifts

Analysts have trimmed the blended price target for PACCAR by about $2. This reflects a mix of recent upward and downward target revisions as they factor in updated views on future revenue growth, profit margins and valuation multiples.
CYD
US$53.45
China Yuchai International
7D
-9.3%
1Y
176.8%
Narrative Update • Jun 04

CYD: Greener Transport Push Will Likely Not Justify Current Pricing

Analysts have nudged their price target for China Yuchai International slightly higher to about $45.59 from roughly $45.00, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E levels. What's in the News China Yuchai introduced its YCY24-65kW Flywheel Range Extender System (YC-FRS) in Hong Kong SAR through partner Wisdom Motor, with a small batch of commercial minibuses now equipped with the system.
SYM
US$42.52
Symbotic
7D
-13.4%
1Y
50.6%
IR
US$73.91
Ingersoll Rand
7D
3.2%
1Y
-12.7%
Narrative Update • Jun 03

IR: M&A And Buybacks Will Support Future Premium P/E

Analysts have trimmed their price target for Ingersoll Rand to $93.20 from $94, citing updated assumptions around fair value, discount rate, revenue growth, profit margins, and future P/E. These changes slightly adjust their outlook while keeping the broader thesis intact.
AGCO
US$113.14
AGCO
7D
-4.4%
1Y
10.2%
Narrative Update • Jun 03

AGCO: Tariff Relief And Mixed Regional Trends Will Likely Cap Future Upside

Analysts have nudged the fair value estimate for AGCO up from $102.00 to $105.00, pointing to updated tariff relief that supports earnings potential for agricultural equipment makers, and also reflecting revised assumptions for discount rate, revenue growth, profit margin, and future P/E. Analyst Commentary Recent Street research around AGCO is mixed, with some analysts highlighting tariff relief as a modest earnings tailwind while others are leaning more cautious on the stock's risk and reward trade off.
JBTM
US$123.62
JBT Marel
7D
-4.7%
1Y
0.2%
Narrative Update • Jun 02

JBTM: Food Processing Execution Risk Will Limit Share Repurchase Upside

Analysts have trimmed their average price target on JBT Marel to $165 from $190, reflecting a lower comparable group multiple, even as they highlight the company’s growing role in food processing and its mix of secular growth, high margin recurring revenues, and strong free cash flow generation. Analyst Commentary Recent research highlights a split view on JBT Marel.
DOV
US$220.97
Dover
7D
4.3%
1Y
21.9%
Narrative Update • Jun 01

DOV: Short Cycle Recovery And 2026 Guidance Will Support Upside Reassessment

The updated analyst price target for Dover edges higher from $245.82 to $249.21, with analysts citing refreshed valuation work that includes slightly adjusted revenue growth, profit margin assumptions, and a modestly higher future P/E multiple. Analyst Commentary Recent Street research on Dover shows a clear concentration of target price increases, with several firms adjusting their models to reflect updated assumptions on revenue, margins, and valuation multiples.