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U.S. Machinery Industry Analysis

UpdatedDec 10, 2025
DataAggregated Company Financials
Companies190
  • 7D-0.8%
  • 3M9.3%
  • 1Y12.3%
  • YTD21.8%

The Machinery industry has stayed flat over the last week. The past year has been better, since the industry has gained 12% in that time. Looking forward, 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
Thu, 11 Dec 2025US$1.3tUS$450.7bUS$43.7b24.9x28.6x2.8x
Sat, 08 Nov 2025US$1.2tUS$449.3bUS$44.1b24.1x27.9x2.7x
Mon, 06 Oct 2025US$1.2tUS$447.0bUS$44.2b24.5x26.7x2.6x
Wed, 03 Sep 2025US$1.1tUS$446.9bUS$44.2b24x25.6x2.5x
Fri, 01 Aug 2025US$1.1tUS$448.8bUS$44.4b23.2x25.5x2.5x
Sun, 29 Jun 2025US$1.1tUS$449.2bUS$44.6b24.1x23.9x2.4x
Tue, 27 May 2025US$1.0tUS$449.1bUS$44.6b23.1x23.1x2.3x
Thu, 24 Apr 2025US$919.0bUS$457.3bUS$48.7b19.9x18.9x2x
Sat, 22 Mar 2025US$1.0tUS$457.3bUS$47.9b21.3x21.3x2.2x
Mon, 17 Feb 2025US$1.1tUS$458.2bUS$48.0b23.8x22.7x2.4x
Wed, 15 Jan 2025US$1.1tUS$467.3bUS$47.9b23.4x22.2x2.3x
Fri, 13 Dec 2024US$1.1tUS$467.6bUS$47.9b24.3x23.5x2.4x
Sun, 10 Nov 2024US$1.1tUS$471.6bUS$49.0b24.9x22.7x2.4x
Tue, 08 Oct 2024US$1.1tUS$474.2bUS$49.4b21.5x21.5x2.2x
Thu, 05 Sep 2024US$978.9bUS$474.2bUS$49.3b20.9x19.9x2.1x
Sat, 03 Aug 2024US$975.1bUS$476.6bUS$50.5b21.7x19.3x2x
Mon, 01 Jul 2024US$962.9bUS$476.9bUS$51.6b21.4x18.7x2x
Wed, 29 May 2024US$1.0tUS$477.0bUS$51.3b22.1x19.7x2.1x
Fri, 26 Apr 2024US$1.0tUS$478.3bUS$49.6b22.9x20.4x2.1x
Sun, 24 Mar 2024US$1.1tUS$476.8bUS$48.0b23x21.9x2.2x
Tue, 20 Feb 2024US$975.9bUS$476.7bUS$47.4b22.9x20.6x2x
Thu, 18 Jan 2024US$922.8bUS$485.5bUS$47.8b21.6x19.3x1.9x
Sat, 16 Dec 2023US$950.7bUS$485.2bUS$47.9b22.4x19.9x2x
Mon, 13 Nov 2023US$846.6bUS$484.4bUS$47.2b19.9x18x1.7x
Wed, 11 Oct 2023US$880.9bUS$475.1bUS$44.4b20.4x19.8x1.9x
Fri, 08 Sep 2023US$906.6bUS$475.1bUS$44.5b19.8x20.4x1.9x
Sun, 06 Aug 2023US$940.2bUS$472.8bUS$43.7b20.4x21.5x2x
Tue, 04 Jul 2023US$908.8bUS$459.8bUS$40.2b20.6x22.6x2x
Thu, 01 Jun 2023US$782.7bUS$460.7bUS$40.4b18.1x19.4x1.7x
Sat, 29 Apr 2023US$821.9bUS$450.3bUS$39.1b19.7x21x1.8x
Mon, 27 Mar 2023US$802.2bUS$442.9bUS$38.1b21.4x21.1x1.8x
Wed, 22 Feb 2023US$858.1bUS$442.1bUS$38.0b23.3x22.6x1.9x
Fri, 20 Jan 2023US$822.4bUS$439.6bUS$36.4b22.4x22.6x1.9x
Sun, 18 Dec 2022US$806.0bUS$439.1bUS$35.8b20.2x22.5x1.8x
Price to Earnings Ratio

22.5x


Total Market Cap: US$806.0bTotal 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 28.6x 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 6.8% 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 Market0.071%
Industrials-0.34%
Machinery-0.77%
Construction Machinery and Vehicles1.01%
Agricultural Machinery-1.13%
Industrial Machinery-2.07%
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 16.4%, which is higher than its past year's earnings decline of 0.7% 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 0.7% 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
CAT CaterpillarUS$615.354.0%
+US$11.2b		58.2%PE31.1x
PCAR PACCARUS$113.484.6%
+US$2.6b		0.6%PE22.1x
PH Parker-HannifinUS$889.252.3%
+US$2.5b		29.6%PE30.8x
CMI CumminsUS$524.533.3%
+US$2.3b		41.7%PE27.1x
MIDD MiddlebyUS$140.9617.6%
+US$1.1b		-2.6%PS1.8x

Latest News

CAT
US$615.35
Caterpillar
7D
4.0%
1Y
58.2%
DDD
US$1.77
3D Systems
7D
-19.9%
1Y
-47.5%
NDSN
US$236.32
Nordson
7D
-0.9%
1Y
3.1%
PCAR
US$113.48
PACCAR
7D
4.6%
1Y
0.6%
CMI
US$524.53
Cummins
7D
3.3%
1Y
41.7%

CMI: Data Center Demand And Truck Cycle Trough Will Shape Outlook

Analysts have nudged their fair value estimate for Cummins higher to approximately $522 from about $510, citing a strengthening outlook for data center driven power demand, improving unit profitability across the portfolio, and early signs that the North America truck cycle is nearing a trough. Analyst Commentary Recent Street research on Cummins underscores a constructive but balanced outlook, with growing confidence in the company’s ability to monetize secular data center demand while navigating a soft on highway and truck cycle.
DE
US$468.90
Deere
7D
-2.7%
1Y
4.7%

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.
XYL
US$138.46
Xylem
7D
-1.7%
1Y
12.2%

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.
PH
US$889.25
Parker-Hannifin
7D
2.3%
1Y
29.6%

PH: Share Repurchases And Raised Guidance Will Support Fair Value Outlook

Analysts have modestly raised their price target on Parker Hannifin to approximately 907.86 dollars from about 900.42 dollars, citing slightly stronger expectations for long term revenue growth, profitability, and valuation multiples. What's in the News Parker-Hannifin updated its share repurchase activity, buying back 631,153 shares, about 0.5% of outstanding stock, for 475 million dollars between July 1 and September 30, 2025.
DOV
US$195.70
Dover
7D
2.9%
1Y
-2.7%
GGG
US$82.12
Graco
7D
-1.6%
1Y
-7.4%
IEX
US$176.51
IDEX
7D
-1.0%
1Y
-22.6%
PNR
US$105.25
Pentair
7D
-1.1%
1Y
-3.6%

PNR: Data Center Upside Will Sustain Double Digit EPS Momentum

The analyst price target for Pentair has inched higher to approximately $121.90 from about $121.68, reflecting analysts' increased confidence in the company’s ability to sustain double digit EPS growth, deliver best in class margins, and benefit from accelerating data center demand heading into 2026. Analyst Commentary Bullish analysts highlight that recent investor meetings reinforced confidence in Pentair’s transformation efforts and long term roadmap, with management reiterating a 2026 return on sales target of 26% and a commitment to sustaining double digit EPS growth through the cycle.
ALSN
US$98.15
Allison Transmission Holdings
7D
8.4%
1Y
-14.2%

ALSN: Value-Based Pricing Will Support Margins Despite Truck Cycle Headwinds

Analysts have modestly lifted their price target on Allison Transmission Holdings to $85, citing confidence in its value-based pricing strategy and steady core transmission performance, even as they flag a more muted long-term backdrop for medium-duty truck demand. Analyst Commentary Analyst reactions frame Allison Transmission as a fundamentally solid operator with disciplined pricing, but one whose long-term growth profile is tempered by structural demand headwinds in its core markets.
NPO
US$219.67
Enpro
7D
-2.7%
1Y
15.2%
MIDD
US$140.96
Middleby
7D
17.6%
1Y
-2.6%
ITW
US$253.53
Illinois Tool Works
7D
1.4%
1Y
-7.1%