Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Machinery Industry Analysis

UpdatedJul 25, 2026
DataAggregated Company Financials
Companies191
  • 7D2.5%
  • 3M3.3%
  • 1Y35.5%
  • YTD21.6%

In the last week, the Machinery industry is up 2.5%, with Deere up 5.2%. During this same period, the Dover underperformed, falling 5.6%. In the last 12 months, the industry was up 35%. 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
Sat, 25 Jul 2026US$1.6tUS$484.4bUS$44.9b28.1x34.8x3.2x
Mon, 22 Jun 2026US$1.6tUS$489.3bUS$44.8b28x36.1x3.3x
Wed, 20 May 2026US$1.4tUS$461.2bUS$43.7b25.8x33.1x3.1x
Fri, 17 Apr 2026US$1.5tUS$456.3bUS$43.7b27x33.9x3.2x
Sun, 15 Mar 2026US$1.4tUS$451.5bUS$43.3b26.3x31.4x3x
Tue, 10 Feb 2026US$1.5tUS$449.4bUS$42.9b29.4x34.4x3.3x
Thu, 08 Jan 2026US$1.3tUS$450.9bUS$43.7b25.6x30.3x2.9x
Sat, 06 Dec 2025US$1.3tUS$450.7bUS$43.7b25.5x29x2.8x
Mon, 03 Nov 2025US$1.2tUS$447.9bUS$44.8b23.5x27.3x2.7x
Wed, 01 Oct 2025US$1.2tUS$447.1bUS$44.2b24.2x26.1x2.6x
Fri, 29 Aug 2025US$1.2tUS$447.0bUS$44.2b24.5x26.1x2.6x
Sun, 27 Jul 2025US$1.1tUS$448.7bUS$44.3b23.5x25.9x2.6x
Tue, 24 Jun 2025US$1.1tUS$449.2bUS$44.5b22.4x23.6x2.3x
Thu, 22 May 2025US$1.1tUS$449.1bUS$44.6b23.2x23.9x2.4x
Sat, 19 Apr 2025US$915.8bUS$457.0bUS$48.6b19.4x18.8x2x
Mon, 17 Mar 2025US$1.0tUS$457.3bUS$47.9b21.4x21x2.2x
Wed, 12 Feb 2025US$1.1tUS$461.5bUS$49.0b22.9x22.5x2.4x
Fri, 10 Jan 2025US$1.0tUS$467.4bUS$47.9b22.4x21.8x2.2x
Sun, 08 Dec 2024US$1.1tUS$467.7bUS$47.8b24.8x23.6x2.4x
Tue, 05 Nov 2024US$1.0tUS$473.8bUS$49.3b23x21.3x2.2x
Thu, 03 Oct 2024US$1.1tUS$474.2bUS$49.4b22.1x21.5x2.2x
Sat, 31 Aug 2024US$998.3bUS$474.2bUS$49.3b21.5x20.2x2.1x
Mon, 29 Jul 2024US$1.0tUS$477.0bUS$51.6b21.8x19.7x2.1x
Wed, 26 Jun 2024US$973.4bUS$476.9bUS$51.6b21.8x18.9x2x
Fri, 24 May 2024US$1.0tUS$477.3bUS$51.3b21.8x20x2.2x
Sun, 21 Apr 2024US$1.0tUS$478.1bUS$48.2b23x21x2.1x
Tue, 19 Mar 2024US$1.0tUS$476.8bUS$48.0b23.1x21.4x2.2x
Thu, 15 Feb 2024US$963.9bUS$476.7bUS$47.3b22.9x20.4x2x
Sat, 13 Jan 2024US$940.0bUS$485.5bUS$47.8b22.2x19.7x1.9x
Mon, 11 Dec 2023US$878.3bUS$483.9bUS$47.8b21.5x18.4x1.8x
Wed, 08 Nov 2023US$845.8bUS$484.2bUS$46.9b19.4x18x1.7x
Fri, 06 Oct 2023US$857.0bUS$475.1bUS$44.4b19.5x19.3x1.8x
Sun, 03 Sep 2023US$935.5bUS$475.1bUS$44.5b20.8x21x2x
Tue, 01 Aug 2023US$951.2bUS$465.5bUS$41.3b20.9x23.1x2x
Price to Earnings Ratio

23.1x


Total Market Cap: US$951.2bTotal Earnings: US$41.3bTotal Revenue: US$465.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 24.1x202420252026
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 34.8x which is higher than its 3-year average PE of 24.1x.
  • The 3-year average PS ratio of 2.4x 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 2.9% 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-1.06%
Industrials1.30%
Machinery2.50%
Agricultural Machinery4.79%
Construction Machinery and Vehicles2.82%
Industrial Machinery1.47%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 21.0x.
    • Analysts are expecting annual earnings growth of 17.3%, 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 19.0x.
Forecasted Growth
  • Analysts are most optimistic on the Agricultural Machinery industry, expecting annual earnings growth of 17% 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 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
DE DeereUS$628.165.2%
+US$8.3b		21.4%PE35.5x
WAB Westinghouse Air Brake TechnologiesUS$302.5015.4%
+US$6.9b		53.4%PE42.5x
PH Parker-HannifinUS$987.543.6%
+US$4.3b		33.7%PE35.8x
CAT CaterpillarUS$888.731.0%
+US$3.9b		104.9%PE43.4x
PCAR PACCARUS$132.244.8%
+US$3.2b		30.2%PE28.1x

Latest News

SNA
US$404.12
Snap-on
7D
-1.7%
1Y
22.4%
WAB
US$302.50
Westinghouse Air Brake Technologies
7D
15.4%
1Y
53.4%
DOV
US$202.20
Dover
7D
-5.6%
1Y
8.4%
CMI
US$664.65
Cummins
7D
2.5%
1Y
79.9%
OTIS
US$71.93
Otis Worldwide
7D
-2.1%
1Y
-19.9%
Seeking Alpha • Jul 24

Otis Worldwide: Strong Service Growth Still Needs To Show Margin Expansion

Summary I maintain a hold rating on Otis Worldwide Corporation as strong service and modernization demand is not yet translating into earnings growth. Service margins contracted due to higher labor costs and slower productivity ramp from new mechanics, despite robust backlog and retention improvements. New equipment sales remain weak overall, with China still a drag, but the Americas show promising order momentum and backlog growth. OTIS trades at ~16x forward P/E, below historical averages, reflecting near-term margin pressures and slower earnings growth versus peers like Kone. Read the full article on Seeking Alpha
MLI
US$63.91
Mueller Industries
7D
8.1%
1Y
44.1%
SYM
US$40.15
Symbotic
7D
-2.7%
1Y
-24.2%
Seeking Alpha • Jul 22

Symbotic: Q3 Earnings Could Trigger A Short Squeeze

Summary Symbotic stock has declined ~28% YTD. The first half of the year has been a forgettable one for investors. Symbotic is expected to report Q3 earnings on August 5. An interesting setup has appeared with the company being among the most shorted industrial stocks with a $10B+ market cap. Although my long-term investment thesis rests on Symbotic's growth appeal, I cannot ignore the short squeeze appeal heading into the earnings report because of reasons discussed in this analysis. Read the full article on Seeking Alpha
PCAR
US$132.24
PACCAR
7D
4.8%
1Y
30.2%
Narrative Update • Jul 22

PCAR: Secular Truck Demand And Strong Q2 Setup Will Support Higher Margins

The PACCAR analyst price target has been revised higher from $140.00 to about $149.63. Analysts cite refreshed Q2 previews, updated machinery sector targets, and generally supportive U.S. macro data as key reasons for the adjustment.
CECO
US$75.63
CECO Environmental
7D
-5.4%
1Y
118.4%
CAT
US$888.73
Caterpillar
7D
1.0%
1Y
104.9%
ITW
US$283.02
Illinois Tool Works
7D
2.5%
1Y
8.1%
Seeking Alpha • Jul 16

Illinois Tool Works: Growth Could Justify The Premium Valuation

Summary Illinois Tool Works is rated Hold due to a premium valuation not justified by its below-sector growth profile. Recovery in the semiconductor market and the Customer-Back Innovation (CBI) program are expected to drive FY2026 net sales growth. Margin expansion is supported by the 80/20 program and Product Line Simplification, with management targeting 100 bps improvement in FY2026. ITW trades at a 23.95x P/E, a 56.68% PEG premium to peers, while forward revenue and EBITDA growth lag sector medians by ~60%. Read the full article on Seeking Alpha
ESAB
US$84.44
ESAB
7D
-5.9%
1Y
-36.6%
DE
US$628.16
Deere
7D
5.2%
1Y
21.4%
Narrative Update • Jul 15

DE: AI Precision Investment And Tariff Relief Will Support Future Upside

Analysts have raised their price targets on Deere, increasing fair value estimates from $759.00 to about $803.77. This shift is supported by expectations for steadier margins, a slightly lower discount rate, modestly higher future P/E assumptions, and generally constructive sector research.
PH
US$987.54
Parker-Hannifin
7D
3.6%
1Y
33.7%
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.
IEX
US$223.27
IDEX
7D
-0.7%
1Y
20.2%
Seeking Alpha • Jul 03

IDEX Corporation: Healthy End-Market Demand Supports Growth, But Premium Valuation Warrants Caution

Summary IDEX Corporation is rated Hold, as its premium P/E valuation is not justified by growth relative to peers. Strong HST segment growth and AI-driven demand should drive FY2026 revenue, but FMT segment weakness remains a headwind. Margins benefit from volume leverage and favorable price/cost, but unfavorable mix and low-margin acquisitions pressure profitability. With a 26.48x P/E versus a 21.8x peer median, IEX's superior margins do not warrant the current valuation premium. Read the full article on Seeking Alpha
XYL
US$119.75
Xylem
7D
-2.5%
1Y
-9.7%