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U.S. Industrials Sector Analysis

UpdatedDec 27, 2025
DataAggregated Company Financials
Companies1058
  • 7D1.2%
  • 3M3.4%
  • 1Y18.0%
  • YTD19.3%

The Industrials industry is up 1.4% in the last week, with General Electric up 3.1%. This means that the industry has gained 18% over the past year. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 27 Dec 2025US$6.5tUS$2.7tUS$210.3b24.7x31.1x2.4x
Mon, 24 Nov 2025US$6.1tUS$2.7tUS$209.8b23.7x29.3x2.2x
Wed, 22 Oct 2025US$6.4tUS$2.7tUS$210.5b25.8x30.4x2.4x
Fri, 19 Sep 2025US$6.2tUS$2.7tUS$208.5b25.1x29.8x2.3x
Sun, 17 Aug 2025US$6.2tUS$2.7tUS$209.5b24.5x29.4x2.3x
Tue, 15 Jul 2025US$6.1tUS$2.7tUS$206.3b23.9x29.6x2.3x
Thu, 12 Jun 2025US$5.8tUS$2.7tUS$205.2b22.7x28.4x2.2x
Sat, 10 May 2025US$5.5tUS$2.7tUS$206.4b21.6x26.7x2.1x
Mon, 07 Apr 2025US$4.8tUS$2.7tUS$203.3b19.1x23.7x1.8x
Wed, 05 Mar 2025US$5.5tUS$2.7tUS$204.2b21.3x26.7x2x
Fri, 31 Jan 2025US$5.8tUS$2.7tUS$199.1b24.4x28.9x2.1x
Sun, 29 Dec 2024US$5.6tUS$2.7tUS$197.9b23.7x28.2x2.1x
Tue, 26 Nov 2024US$6.0tUS$2.7tUS$197.3b25.1x30.5x2.2x
Thu, 24 Oct 2024US$5.7tUS$2.7tUS$189.5b23.5x30.3x2.1x
Sat, 21 Sep 2024US$5.6tUS$2.7tUS$179.5b22.5x31.1x2.1x
Mon, 19 Aug 2024US$5.3tUS$2.7tUS$178.7b22x29.6x2x
Wed, 17 Jul 2024US$5.3tUS$2.7tUS$169.7b23.3x31.2x2x
Fri, 14 Jun 2024US$5.2tUS$2.7tUS$170.0b21.3x30.4x1.9x
Sun, 12 May 2024US$5.3tUS$2.7tUS$171.4b23.5x31.1x2x
Tue, 09 Apr 2024US$5.3tUS$2.7tUS$173.1b23.4x30.8x2x
Thu, 07 Mar 2024US$5.1tUS$2.7tUS$172.3b23.3x29.7x1.9x
Sat, 03 Feb 2024US$5.0tUS$2.7tUS$175.3b21.6x28.5x1.8x
Mon, 01 Jan 2024US$4.9tUS$2.7tUS$183.0b21.6x27x1.8x
Wed, 29 Nov 2023US$4.6tUS$2.7tUS$182.2b19.1x25x1.7x
Fri, 27 Oct 2023US$4.2tUS$2.7tUS$182.2b16.9x23.1x1.5x
Sun, 24 Sep 2023US$4.4tUS$2.7tUS$189.4b17.9x23.2x1.6x
Tue, 22 Aug 2023US$4.5tUS$2.7tUS$188.9b18.5x24.1x1.7x
Thu, 20 Jul 2023US$4.7tUS$2.7tUS$187.8b18.5x25.1x1.8x
Sat, 17 Jun 2023US$4.5tUS$2.7tUS$182.7b18.5x24.7x1.7x
Mon, 15 May 2023US$4.2tUS$2.7tUS$184.3b17.3x22.8x1.6x
Wed, 12 Apr 2023US$4.2tUS$2.6tUS$166.5b18.3x25.3x1.6x
Fri, 10 Mar 2023US$4.1tUS$2.6tUS$162.6b18.5x25.1x1.6x
Sun, 05 Feb 2023US$4.2tUS$2.5tUS$161.0b19.3x26.1x1.7x
Tue, 03 Jan 2023US$4.0tUS$2.5tUS$153.2b17.5x25.8x1.6x
Price to Earnings Ratio

25.8x


Total Market Cap: US$4.0tTotal Earnings: US$153.2bTotal Revenue: US$2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 27.7x20242025
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 31.1x which is higher than its 3-year average PE of 27.7x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 11% per year over the last three years.
  • Revenues for these companies have grown 2.9% 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 Market1.24%
Industrials1.15%
Infrastructure3.07%
Marine and Shipping2.54%
Aerospace & Defense1.96%
Electrical1.73%
Construction1.57%
Commercial Services1.32%
Transportation1.17%
Machinery1.04%
Building0.77%
Professional Services0.70%
Logistics0.17%
Trade Distributors-0.22%
Industrials-0.34%
Airlines-0.54%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 59.8x.
    • Analysts are expecting annual earnings growth of 23.9%, which is higher than its past year's earnings growth of 16.6% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 15.6x.
Forecasted Growth
  • Analysts are most optimistic on the Infrastructure industry, expecting annual earnings growth of 38% 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$315.142.6%
+US$8.4b		85.3%PE41.3x
RTX RTXUS$185.171.7%
+US$4.2b		58.7%PE37.7x
UBER Uber TechnologiesUS$81.262.5%
+US$4.1b		32.9%PE10.1x
CAT CaterpillarUS$583.001.2%
+US$3.2b		59.8%PE29.4x
HWM Howmet AerospaceUS$211.223.8%
+US$3.1b		89.9%PE58.6x

Latest News

UNP
US$233.44
Union Pacific
7D
-0.3%
1Y
1.5%

UNP: Merger Review And Margin Discipline Will Support Performance Amid Intermodal Weakness

Analysts have nudged their price target on Union Pacific slightly higher, with modestly lower growth and margin assumptions but a somewhat richer future earnings multiple now supporting an updated fair value of about $260.50, up from roughly $260.20. Analyst Commentary Recent price target revisions reflect a cautiously constructive stance on Union Pacific, with modest upside embedded in valuation but tempered by mixed near term volume trends and execution risks.
FAST
US$41.56
Fastenal
7D
-1.9%
1Y
13.8%
VRT
US$167.58
Vertiv Holdings Co
7D
4.9%
1Y
45.6%

VRT: Expanded Partnerships And Dividend Increase Will Support Continued Upside Potential

Analysts have raised their price target on Vertiv Holdings Co. from 165.00 to 230.00 per share, citing expectations for stronger revenue growth, modestly higher profit margins, and a slightly lower future price to earnings multiple despite a higher assumed discount rate. What's in the News Vertiv raised full year 2025 earnings guidance, now targeting net sales of $10.16 billion to $10.24 billion and organic net sales growth of 26% to 28%, with expected GAAP diluted EPS of $3.41 (company guidance).
HON
US$197.37
Honeywell International
7D
-0.9%
1Y
-14.0%
DE
US$468.93
Deere
7D
-0.3%
1Y
9.0%

DE: Precision Ag Subscriptions Will Support Earnings Recovery As Downturn Nears Trough

Analysts have nudged our fair value estimate for Deere modestly higher by about $1.50 per share to roughly $527, reflecting increased confidence that Precision Ag subscription growth and a maturing earnings downturn will support steadier profitability despite a still mixed cyclical backdrop. Analyst Commentary Recent Street commentary on Deere underscores a constructive long term outlook supported by Precision Ag adoption and technology driven differentiation, tempered by caution around near term cyclical headwinds and used equipment dynamics.
HWM
US$211.22
Howmet Aerospace
7D
3.8%
1Y
89.9%
AXON
US$583.84
Axon Enterprise
7D
-1.7%
1Y
-4.4%

AXON Will Balance Expanding Safety Market Opportunities With Execution And Competitive Risks

Analysts have raised their price target on Axon Enterprise by roughly $60 to reflect stronger expected revenue growth and the company’s expanding addressable market, even as they temper long term margin and valuation assumptions. Analyst Commentary Recent research updates highlight a generally constructive view on Axon’s long term growth prospects, but they also surface a set of more cautious perspectives around valuation, execution, and the durability of current growth rates.
CAT
US$583.00
Caterpillar
7D
1.2%
1Y
59.8%

CAT: Power Demand Optimism Will Likely Fade And Pressure Future Returns

Analysts have lifted their Caterpillar fair value estimate by about $28 to roughly $393, citing upward revisions to revenue growth and margins, a modestly higher assumed future P E multiple, and a wave of recent price target increases and upgrades following stronger than expected Q3 results and improving Power Gen and construction demand. Analyst Commentary Recent Street research reflects a broadly constructive view on Caterpillar following its Q3 earnings beat, with multiple upgrades and sizable price target increases.
GE
US$315.14
General Electric
7D
2.6%
1Y
85.3%

GE: Defense Demand Will Support Aerospace Earnings And Shareholder Returns

Analysts have raised their price target for General Electric from approximately 340 dollars to 394 dollars, reflecting higher expected revenue growth and a modestly richer future earnings multiple, despite slightly lower projected profit margins and a marginally reduced discount rate. What's in the News The Pentagon is pressing U.S. missile suppliers, including GE Aerospace, to double or even quadruple missile output in anticipation of a potential future conflict with China, signaling sustained demand for advanced defense propulsion systems (Wall Street Journal).
QXO
US$21.24
QXO
7D
-2.6%
1Y
36.5%

QXO, Inc. (NYSE:QXO) Looks Just Right With A 34% Price Jump

Dec 20
QXO, Inc. (NYSE:QXO) Looks Just Right With A 34% Price Jump
WM
US$221.10
Waste Management
7D
2.2%
1Y
8.4%
LMT
US$483.03
Lockheed Martin
7D
1.9%
1Y
-1.2%

LMT: Backlog-Fueled Defense Programs Should Drive Stronger Long-Term Cash Generation

Analysts have modestly raised their price target on Lockheed Martin to approximately $590 from about $544, citing improving top line growth supported by strong F-35, CH-53K, PAC-3 and other program orders, as well as expectations for better program execution despite lingering operational challenges and a nuanced Defense spending outlook. Analyst Commentary Bullish analysts are highlighting a more constructive outlook on Lockheed Martin ahead of upcoming quarterly results, pointing to both program momentum and a gradually improving execution picture.
EOSE
US$11.85
Eos Energy Enterprises
7D
-9.3%
1Y
129.2%
RTX
US$185.17
RTX
7D
1.7%
1Y
58.7%

RTX: Missile Demand And Cybersecurity Risks Will Shape A Balanced Forward Outlook

Analysts have nudged their price target on RTX slightly higher to approximately $194.65, reflecting modestly stronger expectations for long term revenue growth and valuation multiples that more than offset a small revision to projected profit margins. What’s in the News The Pentagon is pressing major U.S. missile makers, including RTX, to double or even quadruple production.
UBER
US$81.26
Uber Technologies
7D
2.5%
1Y
32.9%

UBER: Autonomous Expansion Will Sustain Platform Engagement And Profit Momentum

Analysts have modestly raised their fair value estimate for Uber Technologies by about $1 per share to roughly $112, citing a strong Q3 print, accelerating delivery growth versus peers, and confidence that robust engagement and profit expansion can continue even as margin gains normalize and long term autonomous vehicle economics become a greater focus. Analyst Commentary Analysts remain broadly constructive on Uber following the Q3 update, pointing to solid execution across mobility and delivery, resilient user engagement, and a strengthening narrative around long term autonomous vehicle positioning, even as expectations for near term AV profit contribution are tempered.
UPS
US$100.54
United Parcel Service
7D
-1.4%
1Y
-20.3%

UPS: Margin And Cost Efficiencies Will Drive Earnings Recovery Ahead

The updated fair value estimate for United Parcel Service has been reduced by about $10 to $122 per share, as analysts temper revenue growth and valuation multiples, despite acknowledging improving margins, cost efficiencies, and a more credible transformation outlook following a solid Q3 earnings beat and higher Street price targets. Analyst Commentary Bullish analysts have responded positively to the latest Q3 results, citing a solid earnings beat, reinstated guidance, and meaningful progress on cost initiatives as support for higher valuation.