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U.S. Machinery Industry Analysis

UpdatedJan 27, 2026
DataAggregated Company Financials
Companies190
  • 7D-1.1%
  • 3M13.9%
  • 1Y23.6%
  • YTD6.7%

Over the last 7 days, the Machinery industry has dropped 1.1%, driven by Caterpillar declining 1.7%. In the past year, the industry has gained 24%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 27 Jan 2026US$1.4tUS$450.6bUS$43.7b27x31.1x3x
Thu, 25 Dec 2025US$1.3tUS$450.8bUS$43.7b25.5x29.1x2.8x
Sat, 22 Nov 2025US$1.2tUS$449.1bUS$44.0b23.7x26.9x2.6x
Mon, 20 Oct 2025US$1.2tUS$447.0bUS$44.9b24.1x26.2x2.6x
Wed, 17 Sep 2025US$1.1tUS$447.0bUS$44.2b24x25.8x2.6x
Fri, 15 Aug 2025US$1.2tUS$446.8bUS$44.2b23.9x26.1x2.6x
Sun, 13 Jul 2025US$1.1tUS$449.5bUS$44.6b23.9x24.6x2.4x
Tue, 10 Jun 2025US$1.1tUS$449.1bUS$44.5b23.2x23.7x2.4x
Thu, 08 May 2025US$976.6bUS$451.6bUS$45.2b21.7x21.6x2.2x
Sat, 05 Apr 2025US$934.6bUS$457.1bUS$48.6b18.6x19.2x2x
Mon, 03 Mar 2025US$1.1tUS$458.2bUS$48.0b22.2x22.3x2.3x
Wed, 29 Jan 2025US$1.1tUS$464.4bUS$47.4b23.3x23.5x2.4x
Fri, 27 Dec 2024US$1.1tUS$467.6bUS$47.9b22.7x22.1x2.3x
Sun, 24 Nov 2024US$1.1tUS$467.5bUS$48.0b25x23.9x2.4x
Tue, 22 Oct 2024US$1.1tUS$474.2bUS$49.4b21.7x21.8x2.3x
Thu, 19 Sep 2024US$1.0tUS$474.2bUS$49.6b21.2x20.4x2.1x
Sat, 17 Aug 2024US$978.8bUS$474.2bUS$49.0b21.3x20x2.1x
Mon, 15 Jul 2024US$986.5bUS$476.7bUS$51.6b20.9x19.1x2.1x
Wed, 12 Jun 2024US$970.8bUS$477.0bUS$51.3b22.4x18.9x2x
Fri, 10 May 2024US$1.0tUS$479.5bUS$51.8b22.1x19.8x2.1x
Sun, 07 Apr 2024US$1.1tUS$478.2bUS$48.1b23.8x22.2x2.2x
Tue, 05 Mar 2024US$1.0tUS$477.3bUS$47.3b24.6x21.2x2.1x
Thu, 01 Feb 2024US$977.3bUS$485.4bUS$48.3b22.2x20.3x2x
Sat, 30 Dec 2023US$973.3bUS$485.0bUS$47.8b22.8x20.3x2x
Mon, 27 Nov 2023US$883.5bUS$484.0bUS$47.7b20.4x18.5x1.8x
Wed, 25 Oct 2023US$827.0bUS$475.2bUS$44.4b18.6x18.6x1.7x
Fri, 22 Sep 2023US$868.4bUS$475.0bUS$44.4b20x19.6x1.8x
Sun, 20 Aug 2023US$897.2bUS$413.7bUS$34.5b19.9x26x2.2x
Tue, 18 Jul 2023US$928.6bUS$459.8bUS$40.2b20.7x23.1x2x
Thu, 15 Jun 2023US$883.9bUS$460.9bUS$40.5b20.2x21.8x1.9x
Sat, 13 May 2023US$804.2bUS$456.5bUS$39.8b18.2x20.2x1.8x
Mon, 10 Apr 2023US$788.8bUS$444.2bUS$38.3b20.1x20.6x1.8x
Wed, 08 Mar 2023US$869.6bUS$442.7bUS$38.0b22.7x22.9x2x
Fri, 03 Feb 2023US$876.7bUS$445.9bUS$36.7b25x23.9x2x
Price to Earnings Ratio

23.9x


Total Market Cap: US$876.7bTotal Earnings: US$36.7bTotal Revenue: US$445.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 22.2x202420252026
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 31.1x which is higher than its 3-year average PE of 22.2x.
  • The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have grown 6.0% 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 Market0.12%
Industrials-1.59%
Machinery-1.06%
Agricultural Machinery0.40%
Construction Machinery and Vehicles-1.05%
Industrial Machinery-1.44%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry which is trading above its 3-year average PE ratio of 30.6x.
    • Analysts are expecting annual earnings growth of 15.9%, which is higher than its past year's earnings growth of 0.6% 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 16.3x.
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 growth rate of 0.6% 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
DE DeereUS$516.540.4%
+US$580.1m		6.7%PE27.9x
SNA Snap-onUS$370.132.4%
+US$456.1m		5.0%PE19x
PCAR PACCARUS$122.110.6%
+US$393.9m		11.1%PE23.8x
WAB Westinghouse Air Brake TechnologiesUS$231.700.9%
+US$359.0m		13.4%PE33.7x
AGCO AGCOUS$113.832.2%
+US$185.1m		6.7%PE22.6x

Latest News

DE
US$516.54
Deere
7D
0.4%
1Y
6.7%
RBC
US$504.50
RBC Bearings
7D
1.1%
1Y
61.0%
SWK
US$81.80
Stanley Black & Decker
7D
-3.3%
1Y
-9.5%
DOV
US$207.70
Dover
7D
0.5%
1Y
6.0%

DOV: AI Demand And Cost Controls Will Support Margins And Fair Pricing

The analyst price target for Dover edges higher to US$221.45 from US$218.70. This reflects analysts' updated assumptions for slightly faster revenue growth, a different margin outlook, and a higher future P/E multiple supported by recent positive Street research.
PH
US$933.05
Parker-Hannifin
7D
-1.2%
1Y
40.8%
PCAR
US$122.11
PACCAR
7D
0.6%
1Y
11.1%

PCAR: Easing 2027 Emissions Rules Will Support Stronger Margins And Premium Pricing

Analysts have lifted their fair value estimate for PACCAR from US$133.00 to about US$147.64. The revision reflects updated assumptions around slightly higher revenue growth, a revised profit margin profile, and a higher future P/E multiple in line with recent price target increases across several research firms.
SYM
US$59.45
Symbotic
7D
-11.8%
1Y
114.3%

SYM: Margin Execution And New Wins Will Drive Future Upside Potential

Analysts have raised their fair value estimate for Symbotic to $83.00 from $60.00, citing higher assumed revenue growth, a lower future P/E multiple, and recent research that highlights stronger margin execution, new customer wins, and supportive end markets for warehouse and factory automation. Analyst Commentary Recent Street research on Symbotic shows a mix of enthusiasm and caution, with several bullish analysts lifting price targets and highlighting progress on margins, growth opportunities, and new customers, while at least one firm has shifted to a more neutral stance.
SNA
US$370.13
Snap-on
7D
2.4%
1Y
5.0%
AGCO
US$113.83
AGCO
7D
2.2%
1Y
6.7%

AGCO: Precision Agriculture Aftermarket Will Support Margins While Tariff Risks Persist

Analysts have trimmed their AGCO fair value estimate by about $1 to $118.50, reflecting slightly lower assumed revenue growth and P/E expectations, while still seeing support from the company's precision agriculture positioning and recent price target increases from several firms. Analyst Commentary Bullish Takeaways Bullish analysts have raised AGCO price targets into the US$114 to US$120 range, which indicates they see the current P/E as reasonable relative to the company’s earnings profile.
CAT
US$635.92
Caterpillar
7D
-1.7%
1Y
61.0%

CAT: Data Center Power Demand Will Drive Future Earnings Repricing

Our Caterpillar fair value estimate is updated from $780 to $790, reflecting analysts' higher price targets and their focus on data center driven engine demand, stronger Energy & Transportation and Construction trends, and a slightly higher assumed future P/E multiple. Analyst Commentary Recent Street research on Caterpillar has leaned constructive, with several bullish analysts lifting price targets and highlighting specific growth drivers tied to engines, power generation and core construction and energy markets.
OTIS
US$90.58
Otis Worldwide
7D
0.5%
1Y
-7.3%

OTIS: Service Wins And Buybacks Will Support Future Share Upside

Analysts have nudged their fair value estimate for Otis Worldwide up by about $0.50, reflecting small adjustments to assumptions around revenue growth, profit margins and the P/E multiple, while balancing a recent price target increase from JPMorgan against a short term cautious call from Deutsche Bank. Analyst Commentary Recent Street research on Otis Worldwide presents a mixed picture, with some bullish analysts focusing on upside to fair value and others highlighting short term risks around earnings and guidance.
CMI
US$569.96
Cummins
7D
-1.6%
1Y
63.4%

CMI: Data Center Power And Truck Cycle Trough Will Shape Future Returns

Analysts lifted their Cummins fair value estimate by about US$18 to roughly US$550, citing higher price targets across the Street, steady tweaks to revenue growth and margin assumptions, continued interest in data center power exposure, and a stabilizing North America truck cycle. Analyst Commentary Bullish Takeaways Analysts with a bullish view are leaning into higher valuation frameworks as multiple firms have raised price targets into the US$515 to US$630 range, signaling increased confidence in Cummins’ execution and earnings power.
IR
US$86.79
Ingersoll Rand
7D
-1.6%
1Y
-5.6%

IR: Buybacks And 2025 Guidance Will Support Stronger Future Returns

Analysts have maintained their fair value estimate for Ingersoll Rand at $100.00, while making modest adjustments to underlying assumptions such as the discount rate, expected revenue growth, profit margin, and future P/E multiple to reflect updated views on the company’s risk profile and earnings power. What's in the News Updated full year 2025 guidance, with total Ingersoll Rand revenue expected in a 4% to 6% range, giving you a clearer view of management's current planning assumptions (Corporate Guidance).
XYL
US$143.35
Xylem
7D
-1.9%
1Y
17.3%

XYL: Margin Execution And Funding Trends Will Shape Steady Water Exposure

Analysts have raised their price target on Xylem, with the updated fair value estimate moving from $116.00 to about $138.46 as they factor in research that points to steady growth expectations, improving profit margins and support from diversified water technology exposure. Analyst Commentary Recent Street research on Xylem reflects a mix of confidence and caution, with price targets clustered in a relatively tight range and ratings spanning from Neutral to Overweight.
WAB
US$231.70
Westinghouse Air Brake Technologies
7D
0.9%
1Y
13.4%
ITW
US$259.15
Illinois Tool Works
7D
-1.6%
1Y
-2.0%

ITW: Enterprise Margin Gains And Cautious Guidance Will Shape Near-Term Earnings Risk

Narrative Update Analysts have made only a marginal adjustment to the implied price target for Illinois Tool Works, from about US$261 to roughly US$261, as slightly softer revenue growth assumptions and a higher discount rate are balanced by modestly better margin expectations and a mix of cautious views on near term earnings risks and guidance. Analyst Commentary Recent Street research around Illinois Tool Works reflects a mix of cautious and balanced views, with differing opinions on near term earnings risk, guidance setup, and margin execution.