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U.S. Machinery Industry Analysis

UpdatedMay 26, 2026
DataAggregated Company Financials
Companies194
  • 7D0.2%
  • 3M-4.8%
  • 1Y41.3%
  • YTD13.7%

In the last week, the Machinery industry is flat overall, with Deere standing out by going down 6.3%. As for the the longer term, the industry is up 41% over the past 12 months. Earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 26 May 2026US$1.4tUS$461.8bUS$43.7b26.9x33.2x3.1x
Thu, 23 Apr 2026US$1.5tUS$451.9bUS$43.6b27.2x34.1x3.3x
Sat, 21 Mar 2026US$1.4tUS$451.7bUS$43.4b25.9x31.1x3x
Mon, 16 Feb 2026US$1.5tUS$447.9bUS$43.0b29.9x35.1x3.4x
Wed, 14 Jan 2026US$1.3tUS$450.7bUS$43.7b26.4x30.8x3x
Fri, 12 Dec 2025US$1.3tUS$450.8bUS$43.7b26x29.4x2.8x
Sun, 09 Nov 2025US$1.2tUS$449.2bUS$43.9b24.1x28x2.7x
Tue, 07 Oct 2025US$1.2tUS$447.0bUS$44.2b24.1x26.7x2.6x
Thu, 04 Sep 2025US$1.1tUS$447.0bUS$44.2b24x25.3x2.5x
Sat, 02 Aug 2025US$1.1tUS$448.3bUS$44.7b22.7x25.5x2.5x
Mon, 30 Jun 2025US$1.1tUS$449.2bUS$44.6b24.1x23.9x2.4x
Wed, 28 May 2025US$1.0tUS$449.1bUS$44.6b23.7x23.1x2.3x
Fri, 25 Apr 2025US$932.3bUS$457.3bUS$48.7b20.6x19.1x2x
Sun, 23 Mar 2025US$1.0tUS$457.3bUS$47.9b21.3x21.1x2.2x
Tue, 18 Feb 2025US$1.1tUS$458.2bUS$48.0b23.8x22.7x2.4x
Thu, 16 Jan 2025US$1.1tUS$467.3bUS$47.9b22.9x22.3x2.3x
Sat, 14 Dec 2024US$1.1tUS$467.6bUS$47.9b24x23.2x2.4x
Mon, 11 Nov 2024US$1.1tUS$471.6bUS$49.0b24.9x22.7x2.4x
Wed, 09 Oct 2024US$1.1tUS$474.2bUS$49.4b21.6x21.4x2.2x
Fri, 06 Sep 2024US$972.9bUS$474.2bUS$49.4b20.6x19.7x2.1x
Sun, 04 Aug 2024US$948.4bUS$476.8bUS$50.6b21.7x18.8x2x
Tue, 02 Jul 2024US$962.9bUS$476.9bUS$51.6b20.5x18.7x2x
Thu, 30 May 2024US$995.5bUS$477.0bUS$51.3b22.1x19.4x2.1x
Sat, 27 Apr 2024US$1.0tUS$478.5bUS$49.6b23.2x20.5x2.1x
Mon, 25 Mar 2024US$1.1tUS$476.8bUS$48.0b23x21.9x2.2x
Wed, 21 Feb 2024US$965.9bUS$476.7bUS$47.4b23.1x20.4x2x
Fri, 19 Jan 2024US$933.1bUS$485.5bUS$47.8b21.8x19.5x1.9x
Sun, 17 Dec 2023US$950.7bUS$485.2bUS$47.9b22.4x19.9x2x
Tue, 14 Nov 2023US$845.3bUS$484.4bUS$47.2b19.6x17.9x1.7x
Thu, 12 Oct 2023US$748.1bUS$410.3bUS$36.0b20.6x20.8x1.8x
Sat, 09 Sep 2023US$905.2bUS$475.0bUS$44.4b20.5x20.4x1.9x
Mon, 07 Aug 2023US$938.2bUS$472.7bUS$43.7b20.4x21.5x2x
Wed, 05 Jul 2023US$909.2bUS$459.8bUS$40.2b20.6x22.6x2x
Fri, 02 Jun 2023US$790.2bUS$460.8bUS$40.4b18.4x19.5x1.7x
Price to Earnings Ratio

19.5x


Total Market Cap: US$790.2bTotal Earnings: US$40.4bTotal Revenue: US$460.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 23.4x202420252026
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 33.2x which is higher than its 3-year average PE of 23.4x.
  • 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 2.6% 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 Market1.21%
Industrials1.14%
Machinery0.17%
Industrial Machinery2.00%
Construction Machinery and Vehicles0.012%
Agricultural Machinery-5.34%
Industry PE
  • Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 20.0x.
    • Analysts are expecting annual earnings growth of 16.9%, 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 18.0x.
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 17% 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$879.892.3%
+US$9.1b		150.3%PE43x
PH Parker-HannifinUS$866.961.7%
+US$1.8b		29.2%PE31.4x
ITW Illinois Tool WorksUS$252.202.0%
+US$1.4b		2.2%PE23.2x
SYM SymboticUS$54.0315.9%
+US$943.9m		75.9%PS2.7x
XYL XylemUS$110.283.7%
+US$936.5m		-12.6%PE26.7x

Latest News

SYM
US$54.03
Symbotic
7D
15.9%
1Y
75.9%
TRN
US$32.72
Trinity Industries
7D
-1.5%
1Y
25.9%
PH
US$866.96
Parker-Hannifin
7D
1.7%
1Y
29.2%
Narrative Update • May 25

PH: Rising Dividend And Buybacks Will Support A Constructive Long Term View

Analysts have raised their price target for Parker-Hannifin slightly to $1,033.75 from $1,030.95, citing updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. What’s in the News Parker-Hannifin raised earnings guidance for the fiscal year ending June 30, 2026, now expecting reported sales growth of 7% and earnings of about $27.10 per diluted share (company guidance).
DE
US$529.15
Deere
7D
-5.2%
1Y
3.8%
Seeking Alpha • May 24

Deere: The Hard Part May Already Be Over

Summary Deere is rated Buy, viewed as undervalued, with strong AI-driven and cyclical tailwinds supporting double-digit growth and potential benchmark outperformance. DE posted its fifth consecutive double-beat, with small ag & turf and construction & forestry segments delivering 16% and 29% YoY sales growth, respectively. Management anticipates 15–20% sales growth in key segments and margin expansion, while share repurchases and debt reduction remain priorities. Risks include continued weakness in production & precision ag, high leverage, and macro uncertainty, but long-term upside is supported by AI and rate cut catalysts. Read the full article on Seeking Alpha
XYL
US$110.28
Xylem
7D
3.7%
1Y
-12.6%
Seeking Alpha • May 24

Xylem: Turn Water Into Cash Flow

Summary Xylem offers a compelling, discounted entry into water technology, transitioning from hardware to high-margin, digital-first service solutions. XYL's growth is underpinned by federal infrastructure funding, recurring software revenues, and a robust 9.2% annual EPS growth consensus through 2028. Trading at a forward PE of 19.6, nearly two standard deviations below its 10-year average, XYL provides a margin of safety with strong dividend growth. Key risks include municipal budget constraints and regulatory headwinds, but XYL's efficiency solutions and recurring revenues mitigate these challenges for long-term investors. Read the full article on Seeking Alpha
RBC
US$559.95
RBC Bearings
7D
-0.9%
1Y
52.1%
ITW
US$252.20
Illinois Tool Works
7D
2.0%
1Y
2.2%
Narrative Update • May 23

ITW: AI Hardware Risk And 2026 Margin Guidance Will Shape Outlook

Illinois Tool Works' analyst price target has shifted modestly lower by $1 to $274.54, as analysts weigh mixed target revisions alongside updated assumptions around discount rates, revenue growth, profit margins, and future P/E expectations. Analyst Commentary Recent research shows a mix of cautious and constructive views on Illinois Tool Works, with several firms adjusting price targets in both directions and reassessing assumptions around growth, margins, and valuation multiples.
NDSN
US$289.90
Nordson
7D
4.7%
1Y
49.9%
CMI
US$639.55
Cummins
7D
-3.0%
1Y
96.0%
TKR
US$119.95
Timken
7D
9.7%
1Y
69.4%
CNH
US$10.11
CNH Industrial
7D
-1.2%
1Y
-21.9%
Narrative Update • May 21

CNH: Construction Mega Projects And 2026 Trough Will Support Recovery

Analysts have trimmed the CNH Industrial fair value estimate by about $0.52 to $13.36, reflecting updated price targets that balance slightly higher revenue growth and margin assumptions with a lower future P/E and a modestly higher discount rate. Analyst Commentary Recent Street research on CNH Industrial has tilted more cautious overall, with several price target trims and at least one downgrade, offset by a handful of modest target increases and a neutral initiation.
CAT
US$879.89
Caterpillar
7D
2.3%
1Y
150.3%
Narrative Update • May 19

CAT: Future Returns Will Reflect Data Center Power And Physical AI Opportunities

Caterpillar's updated analyst price target framework moves from a fair value of about $754 to roughly $913, with analysts generally pointing to firmer profit margin assumptions and a higher future P/E multiple as key drivers of the change, even as they apply a slightly higher discount rate and trim revenue growth expectations. Analyst Commentary Recent Street research on Caterpillar clusters around a consistent theme, with a series of higher price targets and at least one fresh upgrade.
IR
US$70.91
Ingersoll Rand
7D
3.5%
1Y
-14.1%
Narrative Update • May 18

IR: M&A Focus And Buybacks Will Support Premium Future P/E

Analysts have adjusted their price target on Ingersoll Rand to $94.00 from $96.47, citing updated assumptions around the discount rate, revenue growth, profit margin, and future P/E that slightly refine their valuation view. What's in the News Ingersoll Rand entered a multiyear partnership with Garrett Motion to develop next generation oil free air technologies aimed at improving energy efficiency, performance, reliability, and air purity for customers in sectors such as food and beverage and life sciences.
GENC
US$14.15
Gencor Industries
7D
-2.3%
1Y
0.2%
PCAR
US$109.35
PACCAR
7D
-0.03%
1Y
15.1%
SCAG
US$0.50
Scage Future
7D
-28.9%
1Y
n/a