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U.S. Machinery Industry Analysis

UpdatedAug 16, 2026
DataAggregated Company Financials
Companies186
  • 7D-0.5%
  • 3M6.5%
  • 1Y37.4%
  • YTD21.0%

The Machinery industry has stayed flat over the last week. The past year has been better, since the industry has gained 37% in that time. 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
Sun, 16 Aug 2026US$1.6tUS$497.2bUS$47.7b27.6x32.9x3.2x
Tue, 14 Jul 2026US$1.6tUS$488.9bUS$44.8b26.7x35.4x3.2x
Thu, 11 Jun 2026US$1.5tUS$489.4bUS$44.9b26.2x34.4x3.2x
Sat, 09 May 2026US$1.5tUS$461.0bUS$43.9b27.3x34.3x3.3x
Mon, 06 Apr 2026US$1.4tUS$451.5bUS$43.6b26.2x31.6x3.1x
Wed, 04 Mar 2026US$1.5tUS$449.9bUS$43.2b28.2x34.6x3.3x
Fri, 30 Jan 2026US$1.4tUS$453.2bUS$42.9b27.7x31.6x3x
Sun, 28 Dec 2025US$1.3tUS$450.8bUS$43.7b25.6x29.1x2.8x
Tue, 25 Nov 2025US$1.2tUS$449.1bUS$43.9b23.8x27.6x2.7x
Thu, 23 Oct 2025US$1.2tUS$445.5bUS$44.6b24.5x26.8x2.7x
Sat, 20 Sep 2025US$1.2tUS$447.0bUS$44.2b24x26.4x2.6x
Mon, 18 Aug 2025US$1.1tUS$446.8bUS$44.2b23.7x25.3x2.5x
Wed, 16 Jul 2025US$1.1tUS$449.5bUS$44.6b23x24.9x2.5x
Fri, 13 Jun 2025US$1.1tUS$449.2bUS$44.5b23.2x23.9x2.4x
Sun, 11 May 2025US$1.0tUS$451.6bUS$45.3b22.1x22.2x2.2x
Tue, 08 Apr 2025US$886.3bUS$457.1bUS$48.6b18.3x18.2x1.9x
Thu, 06 Mar 2025US$1.0tUS$458.1bUS$47.9b21.4x21.2x2.2x
Sat, 01 Feb 2025US$1.1tUS$462.7bUS$47.6b23.5x23.5x2.4x
Mon, 30 Dec 2024US$1.1tUS$467.6bUS$47.9b22.6x22x2.2x
Wed, 27 Nov 2024US$1.1tUS$467.7bUS$48.0b25.3x23.8x2.4x
Fri, 25 Oct 2024US$1.1tUS$473.3bUS$48.9b21.3x21.6x2.2x
Sun, 22 Sep 2024US$1.0tUS$474.2bUS$49.4b21.4x20.9x2.2x
Tue, 20 Aug 2024US$978.5bUS$474.2bUS$49.0b21.3x20x2.1x
Thu, 18 Jul 2024US$1.0tUS$476.7bUS$51.6b21.7x20.1x2.2x
Sat, 15 Jun 2024US$976.3bUS$477.0bUS$51.3b21.7x19x2x
Mon, 13 May 2024US$1.0tUS$479.5bUS$51.8b22.2x20x2.2x
Wed, 10 Apr 2024US$1.1tUS$478.1bUS$48.1b23.9x22.2x2.2x
Fri, 08 Mar 2024US$1.0tUS$477.2bUS$47.5b24x21.3x2.1x
Sun, 04 Feb 2024US$991.8bUS$485.3bUS$48.3b23.1x20.6x2x
Tue, 02 Jan 2024US$969.0bUS$484.8bUS$47.9b22.8x20.2x2x
Thu, 30 Nov 2023US$874.5bUS$483.9bUS$47.8b20.3x18.3x1.8x
Sat, 28 Oct 2023US$811.5bUS$478.5bUS$45.4b18.3x17.9x1.7x
Mon, 25 Sep 2023US$868.8bUS$475.0bUS$44.4b19.8x19.6x1.8x
Wed, 23 Aug 2023US$891.1bUS$475.1bUS$44.5b19.7x20x1.9x
Price to Earnings Ratio

20x


Total Market Cap: US$891.1bTotal Earnings: US$44.5bTotal Revenue: US$475.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 24.4x202420252026
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 32.9x which is higher than its 3-year average PE of 24.4x.
  • 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 2.3% 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 Market0.63%
Industrials0.58%
Machinery-0.48%
Construction Machinery and Vehicles0.69%
Industrial Machinery-1.19%
Agricultural Machinery-2.04%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry, which is trading close to its 3-year average PE ratio of 31.2x.
    • Analysts are expecting annual earnings growth of 15.7%, which is higher than its past year's earnings growth of 10.6% per year.
  • Investors are most pessimistic about the Construction Machinery and Vehicles industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 21.3x.
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$856.571.7%
+US$6.6b		110.1%PE36.3x
WAB Westinghouse Air Brake TechnologiesUS$299.022.5%
+US$1.2b		58.1%PE39.9x
ALSN Allison Transmission HoldingsUS$125.875.9%
+US$577.2m		44.7%PE19.6x
ITT ITTUS$219.402.9%
+US$560.6m		32.6%PE46.5x
CECO CECO EnvironmentalUS$79.5912.2%
+US$519.6m		78.4%PS5.2x

Latest News

SYM
US$42.70
Symbotic
7D
6.3%
1Y
-18.8%
PH
US$1,055.85
Parker-Hannifin
7D
-1.7%
1Y
44.6%
LECO
US$286.87
Lincoln Electric Holdings
7D
1.7%
1Y
20.9%
Narrative Update • Aug 15

LECO: Automation And Reshoring Tailwinds Will Test Rich Margin Expectations

The analyst price target for Lincoln Electric Holdings has been adjusted modestly higher, reflecting a fair value move from about $238.00 to roughly $242.89. This change is supported by analysts highlighting potential benefits from an emerging industrial growth cycle, automation-driven demand, and more balanced margins after earlier tungsten price pressure.
ALSN
US$125.87
Allison Transmission Holdings
7D
5.9%
1Y
44.7%
CMI
US$631.26
Cummins
7D
-2.0%
1Y
58.0%
MIDD
US$117.91
Middleby
7D
-12.3%
1Y
-11.1%
IEX
US$238.94
IDEX
7D
1.9%
1Y
45.0%
Narrative Update • Aug 14

IEX: Strong Buy Ratings And Ongoing Buybacks Will Support Future Returns

Analysts have increased their price target for IDEX to $254.50 from $248, reflecting updated assumptions for revenue growth, profit margins and a slightly different discount rate, while leaving long term P/E expectations broadly unchanged. What’s in the News for IDEX Analysts at RBC Capital have kept a Buy rating on IDEX Corporation and set a price target of US$280, according to recent research coverage.
SNA
US$403.56
Snap-on
7D
-3.1%
1Y
23.8%
ITW
US$290.81
Illinois Tool Works
7D
-2.0%
1Y
12.4%
CECO
US$79.59
CECO Environmental
7D
12.2%
1Y
78.4%
Seeking Alpha • Aug 12

CECO Environmental Delivers As Promised, Remains A 'Strong Buy'

Summary CECO Environmental is reaffirmed as a 'Strong Buy' with a raised price target of $95, driven by transformative growth and the Thermon merger. Q2 results delivered 54% YOY revenue growth, 73% adjusted EBITDA growth, and a 164% increase in backlog, far exceeding prior synergy expectations. CECO’s expanded portfolio addresses secular tailwinds in AI data centers, electrification, and industrial reshoring, supporting ongoing double-digit top-line growth. Risks include potential slowdowns in AI data center demand and typical small-cap volatility, but CECO’s diversification and synergy execution mitigate these concerns. Read the full article on Seeking Alpha
CAT
US$856.57
Caterpillar
7D
1.7%
1Y
110.1%
WAB
US$299.02
Westinghouse Air Brake Technologies
7D
2.5%
1Y
58.1%
DE
US$608.85
Deere
7D
-1.9%
1Y
24.6%
Seeking Alpha • Aug 11

Deere: The Risk Is Front-Running (Earnings Preview)

Summary Deere enters Q3 earnings with a stock price that has surged ahead of fundamentals, as investors continue front‑running an ag‑cycle recovery that remains absent in industry data. CNH and AGCO’s recent reports point to weak North American demand, margin pressure, and potential pricing aggression — key risks for Deere’s Production & Precision Agriculture segment. With valuation implying a rapid earnings rebound and guidance unchanged for three straight quarters, Deere must show margin resilience, pricing strength, and cleaner dealer inventories to justify its premium multiple. Read the full article on Seeking Alpha
ITT
US$219.40
ITT
7D
2.9%
1Y
32.6%
Seeking Alpha • Aug 11

ITT: A Solid Performer Is Valued Accordingly

Summary ITT completed the $4.8 billion SPX Flow acquisition, boosting sales by a third and enhancing its engineered equipment portfolio. Pro forma sales are projected at $5.2 billion, with EBITDA potentially reaching $1.1 billion and net debt at $3.25 billion, below initial guidance. ITT guides for adjusted EPS of $7.75–$8.00 in 2024, reflecting strong momentum and organic growth of 4–6%. Recent bolt-on acquisition of Aerospace Contacts LLC demonstrates ongoing strategic expansion and confidence in operational leverage. Read the full article on Seeking Alpha
IR
US$83.34
Ingersoll Rand
7D
-4.2%
1Y
6.4%
PCAR
US$130.79
PACCAR
7D
-1.7%
1Y
33.2%
Narrative Update • Aug 05

PCAR: Higher Truck Builds And EPA Shift Are Expected To Support Margins

Analysts have raised the PACCAR fair value estimate from $149.63 to $164.00, citing updated forecasts that reflect adjusted Q2 earnings estimates, higher second-half truck build plans, and expectations for modest pricing support in upcoming periods. Analyst Commentary Recent Street research on PACCAR points to generally constructive sentiment, with several bullish analysts resetting price targets higher following the latest Q2 report.