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U.S. Machinery Industry Analysis

UpdatedJul 16, 2026
DataAggregated Company Financials
Companies191
  • 7D-0.6%
  • 3M4.8%
  • 1Y36.7%
  • YTD19.1%

Over the last 7 days, the Machinery industry has remained flat, although notably Caterpillar declined by 3.6%. The past year has been better, since the industry has gained 39% in that time. As for the next few years, earnings are expected to grow by 17% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 16 Jul 2026US$1.6tUS$489.8bUS$44.9b26.5x35.1x3.2x
Sat, 13 Jun 2026US$1.5tUS$489.5bUS$44.9b27.3x34x3.1x
Mon, 11 May 2026US$1.5tUS$461.0bUS$43.9b27.3x34.2x3.2x
Wed, 08 Apr 2026US$1.4tUS$451.5bUS$43.6b26.2x31.7x3.1x
Fri, 06 Mar 2026US$1.5tUS$449.8bUS$43.2b27.8x33.9x3.3x
Sun, 01 Feb 2026US$1.4tUS$453.3bUS$42.9b27.6x31.9x3x
Tue, 30 Dec 2025US$1.3tUS$450.8bUS$43.7b25.5x29.1x2.8x
Thu, 27 Nov 2025US$1.3tUS$450.8bUS$43.7b24.8x28.7x2.8x
Sat, 25 Oct 2025US$1.2tUS$445.7bUS$44.6b24.6x26.9x2.7x
Mon, 22 Sep 2025US$1.2tUS$447.0bUS$44.2b24.4x26.2x2.6x
Wed, 20 Aug 2025US$1.1tUS$446.8bUS$44.2b24.2x25.4x2.5x
Fri, 18 Jul 2025US$1.1tUS$449.5bUS$44.6b23.5x25x2.5x
Sun, 15 Jun 2025US$1.0tUS$449.2bUS$44.5b23x23.3x2.3x
Tue, 13 May 2025US$1.0tUS$451.6bUS$45.3b23x22.2x2.2x
Thu, 10 Apr 2025US$859.7bUS$457.0bUS$48.6b19.7x17.7x1.9x
Sat, 08 Mar 2025US$1.0tUS$458.0bUS$47.8b22.1x21.8x2.3x
Mon, 03 Feb 2025US$1.1tUS$463.9bUS$47.8b23.6x23.3x2.4x
Wed, 01 Jan 2025US$1.0tUS$467.6bUS$47.9b22.4x21.8x2.2x
Fri, 29 Nov 2024US$1.1tUS$467.6bUS$47.8b25.3x24x2.4x
Sun, 27 Oct 2024US$1.1tUS$473.9bUS$49.0b21.3x21.5x2.2x
Tue, 24 Sep 2024US$1.0tUS$474.2bUS$49.4b21.4x20.9x2.2x
Thu, 22 Aug 2024US$977.6bUS$474.2bUS$49.1b21.4x19.9x2.1x
Sat, 20 Jul 2024US$1.0tUS$476.7bUS$51.7b20.9x19.7x2.1x
Mon, 17 Jun 2024US$957.8bUS$477.0bUS$51.3b21.7x18.7x2x
Wed, 15 May 2024US$1.0tUS$479.5bUS$51.8b22.2x19.9x2.1x
Fri, 12 Apr 2024US$1.1tUS$478.1bUS$48.1b23.7x22x2.2x
Sun, 10 Mar 2024US$1.0tUS$477.2bUS$47.5b24.2x21.3x2.1x
Tue, 06 Feb 2024US$973.2bUS$475.1bUS$49.1b21.9x19.8x2x
Thu, 04 Jan 2024US$941.0bUS$485.5bUS$47.8b22x19.7x1.9x
Sat, 02 Dec 2023US$884.7bUS$483.9bUS$47.8b20.8x18.5x1.8x
Mon, 30 Oct 2023US$810.5bUS$478.5bUS$45.4b18.2x17.9x1.7x
Wed, 27 Sep 2023US$859.7bUS$475.1bUS$44.4b19.8x19.4x1.8x
Fri, 25 Aug 2023US$893.5bUS$475.1bUS$44.5b19.8x20.1x1.9x
Sun, 23 Jul 2023US$942.6bUS$459.8bUS$40.2b20.5x23.4x2x
Price to Earnings Ratio

23.4x


Total Market Cap: US$942.6bTotal Earnings: US$40.2bTotal Revenue: US$459.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 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 35.0x 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 3.7% per year over the last three years.
  • Revenues for these companies have grown 2.1% 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 Market0.81%
Industrials-0.015%
Machinery-0.61%
Industrial Machinery1.30%
Agricultural Machinery-0.67%
Construction Machinery and Vehicles-2.29%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 20.9x.
    • 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 18.9x.
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
ITW Illinois Tool WorksUS$271.412.4%
+US$1.8b		5.7%PE24.9x
PH Parker-HannifinUS$952.951.5%
+US$1.7b		34.2%PE34.5x
IR Ingersoll RandUS$79.143.2%
+US$950.9m		-8.1%PE52.8x
ITT ITTUS$194.164.8%
+US$789.4m		23.1%PE37.9x
XYL XylemUS$121.432.4%
+US$667.9m		-6.9%PE29.4x

Latest News

PNR
US$64.33
Pentair
7D
-12.2%
1Y
-38.7%
CMI
US$666.13
Cummins
7D
-0.5%
1Y
92.8%
CAT
US$914.30
Caterpillar
7D
-3.6%
1Y
121.4%
CNH
US$10.57
CNH Industrial
7D
2.9%
1Y
-18.1%
Narrative Update • Jul 14

CNH: Tariff Relief And Cautious Sector Views Will Shape Agriculture Margins

Analysts have lifted the CNH Industrial price target to $10 from $9.50, citing updated expectations for revenue growth, profit margins and future earnings valuation following recent sector research and macro data checks. Analyst Commentary Recent Street research paints a mixed picture for CNH Industrial, with a higher US$10 price target from JPMorgan set against a series of cautious moves from other bearish analysts.
ITW
US$271.41
Illinois Tool Works
7D
2.4%
1Y
5.7%
Narrative Update • Jul 13

ITW: Dividend Strength And Margin Initiatives Will Support Fairly Valued Shares

The analyst price target for Illinois Tool Works has been increased by about $5, as analysts cite modest adjustments to revenue growth, profit margins, and forward P/E assumptions, supported by recent sector research highlighting healthier U.S. macro data and potential upside catalysts in select business lines. Analyst Commentary Recent Street research on Illinois Tool Works shows a mix of optimism and caution, with several firms fine tuning price targets ahead of upcoming earnings and sector data points.
EPAC
US$34.47
Enerpac Tool Group
7D
-5.5%
1Y
-7.5%
Seeking Alpha • Jul 12

Enerpac Tool: A Substantial M&A Deal

Summary Enerpac Tools acquires SFE Group for $472 million, aiming to enhance growth and margins with a complementary product lineup. The SFE deal, valued at 10.6x EBITDA (9.5x with synergies), is expected to add $170 million revenue and $44 million EBITDA, boosting pro forma leverage to 2.8x. Enerpac's core business shows improved execution, with recent sales growth and margins, but long-term share performance remains mixed and valuations appear fair. I remain neutral, awaiting post-acquisition developments and clearer evidence of sustained value creation before considering a long position. Read the full article on Seeking Alpha
DE
US$589.48
Deere
7D
-1.2%
1Y
16.1%
FTV
US$60.52
Fortive
7D
-1.2%
1Y
20.3%
ITT
US$194.16
ITT
7D
4.8%
1Y
23.1%
Narrative Update • Jul 08

ITT: Acquisition And Execution Risks Will Shape The Next Phase

The analyst price target for ITT has shifted from $157.58 to $198.83. Analysts attribute this change to updated assumptions around revenue growth, profit margins, and future P/E, which they identify as key drivers behind the revision.
MLI
US$57.51
Mueller Industries
7D
3.2%
1Y
35.4%
Seeking Alpha • Jul 07

Mueller Industries: Use The Intermediate Price Weakness To Access This Quality Business

Summary Mueller Industries, which is in the business of supplying various copper, brass, and aluminum products mainly for the construction markets, has been underperforming its industrial peers on a YTD basis. MLI still benefits from leading market positions, consistent gross margins, a debt-free balance sheet, and a record $1.4B cash, supporting both acquisitions and shareholder returns. MLI is priced at a similar fwd P/E multiples as my last coverage, but this time around, it is staring at solid forward positive earnings growth and is cheaper than other peers. Residential construction sector softness and a price momentum drag serve as potential risks. Read the full article on Seeking Alpha
PH
US$952.95
Parker-Hannifin
7D
1.5%
1Y
34.2%
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$121.43
Xylem
7D
2.4%
1Y
-6.9%
IEX
US$223.57
IDEX
7D
2.4%
1Y
24.4%
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
IR
US$79.14
Ingersoll Rand
7D
3.2%
1Y
-8.1%
RBC
US$590.14
RBC Bearings
7D
-0.6%
1Y
51.5%
JBTM
US$134.54
JBT Marel
7D
-3.2%
1Y
3.3%