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U.S. Machinery Industry Analysis

UpdatedJun 07, 2026
DataAggregated Company Financials
Companies192
  • 7D2.4%
  • 3M5.4%
  • 1Y39.7%
  • YTD16.3%

Over the last 7 days, the Machinery industry has risen 2.4%, driven by gains in Caterpillar and Deere of 3.2% and 7.6%, respectively. Meanwhile, JBT Marel actually underperformed within the industry, shrinking 7.7% in the last week. This means that the industry has gained 40% over the past year. 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
Mon, 08 Jun 2026US$1.5tUS$489.5bUS$44.8b26.7x33.9x3.1x
Wed, 06 May 2026US$1.5tUS$457.0bUS$43.9b27.4x33.6x3.2x
Fri, 03 Apr 2026US$1.4tUS$451.5bUS$43.6b26.2x31.9x3.1x
Sun, 01 Mar 2026US$1.5tUS$450.0bUS$43.2b28.4x34.5x3.3x
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
Price to Earnings Ratio

21.8x


Total Market Cap: US$883.9bTotal 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 33.9x 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-2.79%
Industrials-0.76%
Machinery2.44%
Agricultural Machinery6.61%
Construction Machinery and Vehicles2.43%
Industrial Machinery1.25%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 20.2x.
    • 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 18.2x.
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
CAT CaterpillarUS$904.283.2%
+US$13.1b		155.9%PE44.2x
DE DeereUS$583.447.6%
+US$11.1b		12.2%PE32.9x
PH Parker-HannifinUS$882.344.5%
+US$4.8b		31.4%PE32x
PCAR PACCARUS$116.685.7%
+US$3.3b		24.8%PE24.8x
ITW Illinois Tool WorksUS$252.722.2%
+US$1.6b		2.1%PE23.2x

Latest News

NDSN
US$282.73
Nordson
7D
-1.6%
1Y
31.6%
ITT
US$191.45
ITT
7D
-1.8%
1Y
25.8%
Narrative Update • Jun 06

ITT: Premium Earnings Profile And Margin Execution Will Drive Bullish Re Rating

Analysts have raised their average price target on ITT by $10, citing updated views on profit margins, discount rates, and future P/E assumptions that modestly refine their outlook on the stock. Analyst Commentary Recent research on ITT shows a mix of optimism on the company’s premium positioning and profit potential, alongside some caution on balance sheet flexibility and how that feeds into valuation.
ITW
US$252.72
Illinois Tool Works
7D
2.2%
1Y
2.1%
CNH
US$10.75
CNH Industrial
7D
5.3%
1Y
-15.6%
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$651.22
Cummins
7D
0.7%
1Y
99.4%
ESAB
US$87.95
ESAB
7D
-4.8%
1Y
-30.7%
DE
US$583.44
Deere
7D
7.6%
1Y
12.2%
FLS
US$73.50
Flowserve
7D
-2.7%
1Y
50.4%
TTC
US$87.21
Toro
7D
-3.0%
1Y
27.3%
CAT
US$904.28
Caterpillar
7D
3.2%
1Y
155.9%
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.
KAI
US$293.28
Kadant
7D
-8.1%
1Y
-11.0%
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$61.28
Fortive
7D
5.1%
1Y
-16.1%
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$116.68
PACCAR
7D
5.7%
1Y
24.8%
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.
SYM
US$44.02
Symbotic
7D
-5.2%
1Y
47.7%
PH
US$882.34
Parker-Hannifin
7D
4.5%
1Y
31.4%
JBTM
US$124.00
JBT Marel
7D
-7.7%
1Y
1.8%
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.