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U.S. Industrials Sector Analysis

UpdatedAug 01, 2026
DataAggregated Company Financials
Companies1073
  • 7D-1.5%
  • 3M0.4%
  • 1Y18.9%
  • YTD11.0%

Over the last 7 days, the Industrials industry has dropped 1.5%, driven by a pullback from Caterpillar of 8.3%. In contrast, Uber Technologies has gained 6.7%. Over the past 12 months, the industry was up 19%. As for the next few years, earnings are expected to grow by 17% per annum.

Sector Valuation and Performance

Has the U.S. Industrials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 02 Aug 2026US$7.5tUS$3.0tUS$227.9b25.7x33.1x2.6x
Tue, 30 Jun 2026US$7.8tUS$2.9tUS$219.7b26.2x35.4x2.7x
Thu, 28 May 2026US$7.6tUS$2.9tUS$218.7b26.3x34.9x2.6x
Sat, 25 Apr 2026US$7.5tUS$2.8tUS$220.1b25.5x34.2x2.6x
Mon, 23 Mar 2026US$6.9tUS$2.9tUS$212.5b23.4x32.2x2.4x
Wed, 18 Feb 2026US$7.4tUS$2.8tUS$208.6b27.1x35.5x2.6x
Fri, 16 Jan 2026US$6.8tUS$2.7tUS$209.3b26.1x32.7x2.5x
Sun, 14 Dec 2025US$6.5tUS$2.7tUS$209.6b25.1x30.9x2.4x
Tue, 11 Nov 2025US$6.4tUS$2.7tUS$211.2b24.5x30.1x2.3x
Thu, 09 Oct 2025US$6.4tUS$2.7tUS$209.9b25.3x30.6x2.4x
Sat, 06 Sep 2025US$6.2tUS$2.7tUS$208.3b25x29.8x2.3x
Mon, 04 Aug 2025US$6.1tUS$2.7tUS$210.0b23.6x29x2.3x
Wed, 02 Jul 2025US$6.0tUS$2.7tUS$205.3b23.1x29.1x2.2x
Fri, 30 May 2025US$5.8tUS$2.7tUS$206.2b22.5x27.9x2.1x
Sun, 27 Apr 2025US$5.2tUS$2.7tUS$204.6b20.7x25.6x1.9x
Tue, 25 Mar 2025US$5.4tUS$2.7tUS$203.0b21.7x26.4x2x
Thu, 20 Feb 2025US$5.7tUS$2.7tUS$208.3b23.6x27.5x2.1x
Sat, 18 Jan 2025US$5.8tUS$2.7tUS$196.4b24.6x29.4x2.1x
Mon, 16 Dec 2024US$5.8tUS$2.7tUS$198.3b24.2x29.2x2.1x
Wed, 13 Nov 2024US$6.1tUS$2.7tUS$194.2b25.1x31.2x2.2x
Fri, 11 Oct 2024US$5.7tUS$2.7tUS$180.1b23.1x31.7x2.1x
Sun, 08 Sep 2024US$5.2tUS$2.7tUS$179.9b21.1x28.9x1.9x
Tue, 06 Aug 2024US$5.1tUS$2.7tUS$179.7b21x28.6x1.9x
Thu, 04 Jul 2024US$5.1tUS$2.7tUS$170.6b21.5x30.1x1.9x
Sat, 01 Jun 2024US$5.2tUS$2.7tUS$169.9b22.7x30.5x1.9x
Mon, 29 Apr 2024US$5.2tUS$2.7tUS$169.3b22.6x30.7x1.9x
Wed, 27 Mar 2024US$5.3tUS$2.7tUS$172.6b23.2x30.6x2x
Fri, 23 Feb 2024US$5.0tUS$2.7tUS$173.7b23x28.8x1.9x
Sun, 21 Jan 2024US$4.9tUS$2.7tUS$184.2b20.7x26.3x1.8x
Tue, 19 Dec 2023US$4.9tUS$2.7tUS$182.7b21x26.6x1.8x
Thu, 16 Nov 2023US$4.5tUS$2.7tUS$184.8b19x24.5x1.7x
Sat, 14 Oct 2023US$4.4tUS$2.7tUS$192.6b17.8x22.8x1.6x
Mon, 11 Sep 2023US$4.5tUS$2.7tUS$189.3b18.3x23.8x1.7x
Wed, 09 Aug 2023US$4.7tUS$2.7tUS$189.2b19x24.8x1.7x
Price to Earnings Ratio

24.8x


Total Market Cap: US$4.7tTotal Earnings: US$189.2bTotal Revenue: US$2.7tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 29.5x202420252026
Current Industry PE
  • Investors are optimistic on the American Industrials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 33.1x which is higher than its 3-year average PE of 29.5x.
  • The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 6.1% per year over the last three years.
  • Revenues for these companies have grown 2.8% 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 sector?

US Market0.77%
Industrials-1.55%
Professional Services4.04%
Infrastructure2.79%
Airlines2.67%
Industrials1.12%
Aerospace & Defense0.12%
Construction-0.52%
Commercial Services-1.14%
Electrical-1.56%
Trade Distributors-1.83%
Transportation-2.86%
Marine and Shipping-2.93%
Machinery-3.54%
Building-4.45%
Logistics-6.83%
Industry PE
  • Investors are most optimistic about the Construction industry which is trading above its 3-year average PE ratio of 38.5x.
    • Analysts are expecting annual earnings growth of 27.2%, which is lower than the prior year's growth of 41.3% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 17.1x.
Forecasted Growth
  • Analysts are most optimistic on the Construction industry, expecting annual earnings growth of 27% over the next 5 years.
  • However this is lower than its past earnings growth rate of 41% per year.
  • In contrast, the Industrials industry is expected to see its earnings decline by 4.5% 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
UBER Uber TechnologiesUS$70.366.7%
+US$9.0b		-19.0%PE16.8x
BE Bloom EnergyUS$205.8111.3%
+US$8.0b		460.5%PE247.5x
GE General ElectricUS$360.071.8%
+US$6.6b		33.7%PE41.7x
PWR Quanta ServicesUS$667.366.6%
+US$6.4b		68.9%PE75.6x
ADP Automatic Data ProcessingUS$266.466.5%
+US$6.0b		-11.3%PE24x

Latest News

TT
US$454.95
Trane Technologies
7D
-5.4%
1Y
3.6%
PWR
US$667.36
Quanta Services
7D
6.6%
1Y
68.9%
UBER
US$70.36
Uber Technologies
7D
6.7%
1Y
-19.0%
ETN
US$415.20
Eaton
7D
2.8%
1Y
8.9%
VRT
US$241.57
Vertiv Holdings Co
7D
-16.8%
1Y
70.6%
New Narrative • Jul 31

Everyone's Favorite Stock Just Fell 17% in a Day. It Still Isn't Cheap.

What Happened Yesterday Vertiv (VRT) — the single most popular name in the AI cooling and power-infrastructure trade, by every measure I can find — reported Q2 2026 earnings on July 29. Revenue grew 24% year-over-year.
ARXS
US$54.30
Arxis
7D
28.1%
1Y
n/a
BE
US$205.81
Bloom Energy
7D
11.3%
1Y
460.5%
Narrative Update • Jul 31

BE: AI Power Backlog And Brookfield Funding Will Sustain Excessive P E

Analysts have adjusted their fair value estimate for Bloom Energy to $125.36 from $139.00, reflecting updated assumptions for revenue growth, profit margins, and a slightly lower discount rate, while also applying a modestly higher future P/E multiple. What’s in the News for Bloom Energy Bloom Energy reported record Q2 2026 revenue of US$1.07b, its first quarter above US$1b, with operating income of US$182.2m compared with an operating loss of US$3.5m a year earlier, and the stock moved about 8% higher in after hours trading, according to company results and market data sources.
ADP
US$266.46
Automatic Data Processing
7D
6.5%
1Y
-11.3%
DE
US$592.67
Deere
7D
-5.6%
1Y
18.3%
UPS
US$104.22
United Parcel Service
7D
-9.2%
1Y
23.3%
BA
US$216.14
Boeing
7D
3.2%
1Y
-2.6%
Seeking Alpha • Jul 29

Boeing: Let's Not Get Carried Away

Summary Boeing delivered a solid Q2, highlighted by positive free cash flow and robust commercial airplane demand, but upside appears priced in. BA's commercial airplane segment saw 14% y/y delivery growth, with production ramping to 47 planes/month and a strong backlog supporting sequential improvement. Operating margins improved, but valuation remains stretched at 35x EV/EBITDA (GAAP); I maintain a Hold rating pending better earnings revisions or cheaper entry. Positive free cash flow and quality assurance are critical; any setbacks here could pressure the stock during this multi-year recovery. Read the full article on Seeking Alpha
GEV
US$990.29
GE Vernova
7D
-2.4%
1Y
50.8%
GE
US$360.07
General Electric
7D
1.8%
1Y
33.7%
Narrative Update • Jul 29

GE: Aftermarket Backlog And Equipment Ramp Will Shape Execution Risk

Analysts have raised their price target framework for General Electric to reflect a shift in fair value from about $288 to roughly $349. This change is supported by research that points to healthier demand trends, firmer profit margin assumptions, and a slightly lower discount rate applied to GE Aerospace's earnings power.
CARR
US$61.81
Carrier Global
7D
-10.3%
1Y
-7.6%
UNP
US$292.13
Union Pacific
7D
-4.9%
1Y
33.1%
Narrative Update • Jul 28

UNP: Coast To Coast Merger And Freight Trends Will Guide Prospects

Union Pacific's analyst price target has moved from about $300 to roughly $328, as analysts factor in stronger margins, a higher assumed future P/E, and recent price target increases following what they describe as solid quarterly results, improved service, and progress on the proposed Norfolk Southern merger. Analyst Commentary Recent research updates on Union Pacific cluster around higher price targets and mostly positive views on execution, with a few more cautious voices focusing on valuation and deal risk.
CAT
US$814.81
Caterpillar
7D
-8.3%
1Y
90.1%