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U.S. Industrials Sector Analysis

UpdatedFeb 22, 2026
DataAggregated Company Financials
Companies1055
  • 7D1.7%
  • 3M18.7%
  • 1Y33.2%
  • YTD12.0%

In the last week, the Industrials industry is up 1.7%, with General Electric up 8.8%. In the last 12 months, the industry was up 33%. Looking forward, earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 22 Feb 2026US$7.5tUS$2.8tUS$207.1b27.5x36.3x2.6x
Tue, 20 Jan 2026US$7.0tUS$2.7tUS$209.0b26.1x33.3x2.5x
Thu, 18 Dec 2025US$6.4tUS$2.7tUS$209.7b24.5x30.6x2.3x
Sat, 15 Nov 2025US$6.3tUS$2.7tUS$210.7b24x29.7x2.3x
Mon, 13 Oct 2025US$6.2tUS$2.7tUS$210.1b24.1x29.7x2.3x
Wed, 10 Sep 2025US$6.2tUS$2.7tUS$208.3b24.7x29.6x2.3x
Fri, 08 Aug 2025US$6.2tUS$2.7tUS$209.0b24x29.5x2.3x
Sun, 06 Jul 2025US$6.1tUS$2.7tUS$205.2b24.3x29.7x2.3x
Tue, 03 Jun 2025US$5.8tUS$2.7tUS$205.3b22x28x2.1x
Thu, 01 May 2025US$5.3tUS$2.7tUS$204.1b20.5x25.8x2x
Sat, 29 Mar 2025US$5.4tUS$2.7tUS$203.7b20.8x26.5x2x
Mon, 24 Feb 2025US$5.6tUS$2.7tUS$209.4b22.3x26.6x2.1x
Wed, 22 Jan 2025US$5.8tUS$2.7tUS$195.1b25x29.7x2.1x
Fri, 20 Dec 2024US$5.5tUS$2.7tUS$198.0b23.1x28x2x
Sun, 17 Nov 2024US$5.9tUS$2.7tUS$194.8b23.7x30.1x2.1x
Tue, 15 Oct 2024US$5.8tUS$2.7tUS$180.3b23.9x32.1x2.1x
Thu, 12 Sep 2024US$5.3tUS$2.7tUS$179.9b21.6x29.5x2x
Sat, 10 Aug 2024US$5.2tUS$2.7tUS$179.5b21.3x28.8x1.9x
Mon, 08 Jul 2024US$5.1tUS$2.7tUS$170.2b21.2x29.9x1.9x
Wed, 05 Jun 2024US$5.2tUS$2.7tUS$169.9b22.2x30.4x1.9x
Fri, 03 May 2024US$5.1tUS$2.7tUS$172.0b22x29.8x1.9x
Sun, 31 Mar 2024US$5.4tUS$2.6tUS$172.8b23.9x31x2x
Tue, 27 Feb 2024US$5.1tUS$2.7tUS$174.9b23.3x29.1x1.9x
Thu, 25 Jan 2024US$4.9tUS$2.7tUS$183.1b21x26.8x1.8x
Sat, 23 Dec 2023US$4.9tUS$2.7tUS$182.9b21.6x26.8x1.8x
Mon, 20 Nov 2023US$4.5tUS$2.7tUS$182.2b19.5x24.9x1.7x
Wed, 18 Oct 2023US$4.5tUS$2.7tUS$193.6b18x23.2x1.6x
Fri, 15 Sep 2023US$4.5tUS$2.7tUS$189.6b18.3x23.7x1.7x
Sun, 13 Aug 2023US$4.7tUS$2.7tUS$188.8b19x24.7x1.7x
Tue, 11 Jul 2023US$4.6tUS$2.7tUS$185.5b18x24.8x1.7x
Thu, 08 Jun 2023US$4.3tUS$2.7tUS$182.7b18.3x23.7x1.6x
Sat, 06 May 2023US$4.2tUS$2.7tUS$185.3b17.5x22.9x1.6x
Mon, 03 Apr 2023US$4.3tUS$2.6tUS$165.4b18.8x26x1.6x
Wed, 01 Mar 2023US$4.1tUS$2.6tUS$161.9b18.8x25.3x1.6x
Price to Earnings Ratio

25.3x


Total Market Cap: US$4.1tTotal Earnings: US$161.9bTotal Revenue: US$2.6tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 28.1x202420252026
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 36.3x which is higher than its 3-year average PE of 28.1x.
  • The 3-year average PS ratio of 2.0x 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 8.6% per year over the last three years.
  • Revenues for these companies have grown 3.7% 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 Market1.04%
Industrials1.66%
Marine and Shipping7.16%
Construction4.42%
Infrastructure4.18%
Transportation3.57%
Aerospace & Defense3.30%
Logistics1.85%
Professional Services1.19%
Electrical1.15%
Airlines1.03%
Machinery0.64%
Commercial Services0.15%
Building-0.17%
Industrials-0.23%
Trade Distributors-0.74%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 62.6x.
    • Analysts are expecting annual earnings growth of 19.3%, which is higher than its past year's earnings growth of 13.6% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 16.0x.
Forecasted Growth
  • Analysts are most optimistic on the Infrastructure industry, expecting annual earnings growth of 33% over the next 5 years.
  • This is better than its past earnings decline of 47% per year.
  • In contrast, the Marine and Shipping industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
GE General ElectricUS$343.228.8%
+US$29.2b		71.8%PE41.9x
DE DeereUS$662.499.9%
+US$16.1b		35.2%PE37.3x
UBER Uber TechnologiesUS$73.865.5%
+US$8.0b		-6.4%PE15.1x
GEV GE VernovaUS$830.343.5%
+US$7.6b		153.2%PE45.8x
RTX RTXUS$204.922.4%
+US$6.5b		66.2%PE40.9x

Latest News

DE
US$662.49
Deere
7D
9.9%
1Y
35.2%

Long Term Construction Upswing And Aging Farm Fleets Will Support A Stronger Outlook

Catalysts About Deere Deere manufactures equipment and technology for agriculture, construction, forestry and related financial services. What are the underlying business or industry changes driving this perspective?
FIX
US$1,462.23
Comfort Systems USA
7D
9.3%
1Y
301.7%

FIX: S&P 500 Inclusion Will Support Higher Margin And Future P/E Repricing

Analysts have lifted their price target for Comfort Systems USA from $1,310 to $1,800, citing updates to their models that reflect changes to fair value estimates, discount rate, revenue growth, profit margin assumptions and future P/E expectations. Analyst Commentary Recent Street research has highlighted a series of higher price targets for Comfort Systems USA, which points to growing confidence in the company’s outlook and the assumptions used in valuation models.
PWR
US$552.66
Quanta Services
7D
5.5%
1Y
105.2%
UPS
US$116.73
United Parcel Service
7D
-2.1%
1Y
0.3%

UPS: Labor Disputes And Fleet Disruptions Will Pressure Margins And Sentiment

The analyst fair value estimate for United Parcel Service has been lifted from about $80.28 to roughly $85.08 as analysts factor in higher revenue growth assumptions, slightly stronger profit margins, and a higher future P/E multiple supported by a wave of recent price target increases and upgrades across the Street. Analyst Commentary Recent research on United Parcel Service shows a mix of optimism and caution, with several firms adjusting price targets and ratings as they refine outlooks for earnings, margins, and sector conditions through 2026.
VRT
US$243.75
Vertiv Holdings Co
7D
3.9%
1Y
153.9%

VRT: AI Data Center Services And 2026 Outlook Will Frame Balanced Upside

Analysts have lifted their price target for Vertiv Holdings Co to $263.20 from $198.45, citing updated assumptions for revenue growth, profit margins, a slightly adjusted discount rate, and a modestly lower future P/E multiple. What's in the News Vertiv issued earnings guidance for the first quarter of 2026, with expected net sales between US$2.5b and US$2.7b, diluted GAAP EPS of US$0.80, GAAP operating profit of US$424.8m, and GAAP net income of US$312.7m (corporate guidance).
MMM
US$167.06
3M
7D
-2.8%
1Y
15.2%

MMM: Digital Execution And Slightly Higher Fair Value Will Support Re Rating

The analyst price target for 3M has shifted slightly higher, with our fair value estimate moving from $223.00 to about $225.67 as analysts factor in updated growth and margin assumptions, along with mixed target revisions across major firms. Analyst Commentary Recent Street research on 3M shows a split view, with several bullish analysts lifting price targets and others trimming expectations or downgrading the stock.
BA
US$232.03
Boeing
7D
-4.5%
1Y
31.0%
CAT
US$759.74
Caterpillar
7D
-1.9%
1Y
123.4%

CAT: Data Center Power Demand Will Drive Future Multiple Repricing

Caterpillar's analyst price target has been raised from $790 to $850. Analysts cited updated assumptions for faster revenue growth, a slightly lower discount rate, and a higher future P/E multiple, partly offset by more moderate profit margin expectations.
ITW
US$294.98
Illinois Tool Works
7D
-1.5%
1Y
11.6%
GEV
US$830.34
GE Vernova
7D
3.5%
1Y
153.2%
ALLE
US$162.14
Allegion
7D
-9.7%
1Y
27.5%
GE
US$343.22
General Electric
7D
8.8%
1Y
71.8%

GE: Fairly Valued On Automation Push And High Execution Demands

Analysts have lifted their implied fair value estimate for General Electric to about $301 from roughly $198, citing updated assumptions for revenue growth, profit margins and future P/E, along with a slightly higher discount rate. Analyst Commentary Recent Street research on General Electric has been active, with several firms adjusting their price targets on GE Aerospace.
RTX
US$204.92
RTX
7D
2.4%
1Y
66.2%
ETN
US$373.38
Eaton
7D
-4.1%
1Y
25.6%
WM
US$230.31
Waste Management
7D
-1.8%
1Y
1.0%
UBER
US$73.86
Uber Technologies
7D
5.5%
1Y
-6.4%

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