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U.S. Industrials Sector Analysis

UpdatedJul 06, 2026
DataAggregated Company Financials
Companies1062
  • 7D-0.1%
  • 3M10.2%
  • 1Y23.1%
  • YTD14.6%

The Industrials is pretty flat in the last 7 days, but GE Vernova has stood out, gaining 6.5%. The past year has been better, since the industry has gained 23% in that time. Looking forward, earnings are forecast to grow by 17% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 06 Jul 2026US$7.8tUS$2.9tUS$218.6b26.2x35.7x2.7x
Wed, 03 Jun 2026US$7.6tUS$2.9tUS$218.9b26x34.5x2.6x
Fri, 01 May 2026US$7.4tUS$2.9tUS$221.3b26.2x33.3x2.6x
Sun, 29 Mar 2026US$6.8tUS$2.9tUS$214.5b23.5x31.6x2.4x
Tue, 24 Feb 2026US$7.5tUS$2.8tUS$207.1b27.1x36.3x2.6x
Thu, 22 Jan 2026US$6.8tUS$2.8tUS$209.0b26x32.6x2.5x
Sat, 20 Dec 2025US$6.4tUS$2.7tUS$210.3b24.6x30.4x2.3x
Mon, 17 Nov 2025US$6.3tUS$2.7tUS$210.7b23.9x29.7x2.3x
Wed, 15 Oct 2025US$6.3tUS$2.7tUS$210.1b25.1x30.1x2.3x
Fri, 12 Sep 2025US$6.2tUS$2.7tUS$208.2b24.8x29.7x2.3x
Sun, 10 Aug 2025US$6.2tUS$2.7tUS$209.1b24.1x29.4x2.3x
Tue, 08 Jul 2025US$6.1tUS$2.7tUS$205.2b23.9x29.7x2.3x
Thu, 05 Jun 2025US$5.8tUS$2.7tUS$205.2b22.5x28.3x2.2x
Sat, 03 May 2025US$5.3tUS$2.7tUS$205.0b21.4x26.1x2x
Mon, 31 Mar 2025US$5.3tUS$2.7tUS$203.7b20.9x25.9x2x
Wed, 26 Feb 2025US$5.5tUS$2.7tUS$208.8b22.2x26.5x2.1x
Fri, 24 Jan 2025US$5.9tUS$2.7tUS$197.2b24.6x30x2.2x
Sun, 22 Dec 2024US$5.6tUS$2.7tUS$197.8b23.4x28.2x2.1x
Tue, 19 Nov 2024US$5.9tUS$2.7tUS$195.0b23.6x30x2.1x
Thu, 17 Oct 2024US$5.8tUS$2.7tUS$180.3b24.4x32.2x2.1x
Sat, 14 Sep 2024US$5.4tUS$2.7tUS$179.8b22.1x29.9x2x
Mon, 12 Aug 2024US$5.2tUS$2.7tUS$179.6b21.4x28.8x1.9x
Wed, 10 Jul 2024US$5.1tUS$2.7tUS$170.3b21x30x1.9x
Fri, 07 Jun 2024US$5.2tUS$2.7tUS$170.1b21.8x30.5x1.9x
Sun, 05 May 2024US$5.2tUS$2.7tUS$171.8b22.6x30.3x1.9x
Tue, 02 Apr 2024US$5.4tUS$2.7tUS$173.6b23.8x30.9x2x
Thu, 29 Feb 2024US$5.1tUS$2.7tUS$174.1b23.2x29.3x1.9x
Sat, 27 Jan 2024US$4.9tUS$2.7tUS$179.8b21.2x27.3x1.8x
Mon, 25 Dec 2023US$4.9tUS$2.7tUS$183.0b21.6x26.8x1.8x
Wed, 22 Nov 2023US$4.5tUS$2.7tUS$182.2b19.3x24.9x1.7x
Fri, 20 Oct 2023US$4.3tUS$2.7tUS$193.3b17.4x22.3x1.6x
Sun, 17 Sep 2023US$4.5tUS$2.7tUS$189.4b18.1x23.8x1.7x
Tue, 15 Aug 2023US$4.7tUS$2.7tUS$189.2b19x24.7x1.7x
Thu, 13 Jul 2023US$4.7tUS$2.7tUS$185.5b18.3x25.1x1.7x
Price to Earnings Ratio

25.1x


Total Market Cap: US$4.7tTotal Earnings: US$185.5bTotal Revenue: US$2.7tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 29.3x202420252026
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 35.7x which is higher than its 3-year average PE of 29.3x.
  • The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 5.6% per year over the last three years.
  • Revenues for these companies have grown 2.6% 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 Market1.63%
Industrials-0.14%
Professional Services5.91%
Aerospace & Defense5.03%
Transportation1.78%
Logistics1.75%
Commercial Services1.49%
Marine and Shipping0.50%
Electrical0.42%
Infrastructure-0.40%
Building-1.14%
Airlines-1.46%
Machinery-1.83%
Trade Distributors-2.28%
Construction-5.67%
Industrials-32.05%
Industry PE
  • Investors are most optimistic about the Construction industry which is trading above its 3-year average PE ratio of 38.2x.
    • Analysts are expecting annual earnings growth of 24.6%, which is lower than the prior year's growth of 33.2% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 16.9x.
Forecasted Growth
  • Analysts are most optimistic on the Construction industry, expecting annual earnings growth of 25% over the next 5 years.
  • However this is lower than its past earnings growth rate of 33% 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
RTX RTXUS$199.256.4%
+US$16.1b		36.5%PE37x
AXON Axon EnterpriseUS$597.0428.4%
+US$10.7b		-24.9%PE233.6x
LMT Lockheed MartinUS$545.918.7%
+US$10.1b		16.4%PE26.3x
BA BoeingUS$226.495.5%
+US$9.3b		3.6%PE92.9x
HONA Honeywell AerospaceUS$247.1511.8%
+US$8.3b		n/aPE30.8x

Latest News

BA
US$226.49
Boeing
7D
5.5%
1Y
3.6%
HON
US$229.86
Honeywell International
7D
-50.5%
1Y
-52.2%
CAT
US$963.53
Caterpillar
7D
-6.7%
1Y
146.1%
LMT
US$545.91
Lockheed Martin
7D
8.7%
1Y
16.4%
PWR
US$668.31
Quanta Services
7D
-6.5%
1Y
73.2%
CMI
US$661.70
Cummins
7D
-4.3%
1Y
101.8%
Narrative Update • Jul 02

CMI: Data Center Power And Truck Demand Will Shape Measured Future Returns

The analyst fair value estimate for Cummins has been raised from $643.36 to $748.81. This change reflects higher Street price targets and updated assumptions around revenue growth, profit margins, and future P/E multiples that analysts link to strong demand trends in power, data center, truck, and infrastructure markets.
HONA
US$247.15
Honeywell Aerospace
7D
11.8%
1Y
n/a
MTZ
US$373.43
MasTec
7D
-13.0%
1Y
117.1%
VICR
US$282.95
Vicor
7D
-22.9%
1Y
523.4%
FIX
US$1,741.30
Comfort Systems USA
7D
-10.6%
1Y
221.6%
AXON
US$597.04
Axon Enterprise
7D
28.4%
1Y
-24.9%
RTX
US$199.25
RTX
7D
6.4%
1Y
36.5%
ADP
US$242.27
Automatic Data Processing
7D
7.7%
1Y
-21.4%
GD
US$373.54
General Dynamics
7D
7.3%
1Y
26.8%
ETN
US$398.52
Eaton
7D
-2.4%
1Y
11.2%
Narrative Update • Jun 26

ETN: AI Data Center Story Will Face Mobility Deal Execution Risks

Analysts have lifted their blended price target for Eaton to about $346 from roughly $329, reflecting updated views on its earnings power, margin profile and valuation multiples following a series of recent research revisions. Analyst Commentary Recent research updates on Eaton highlight a mix of optimism on the earnings and margin story alongside a more restrained tone from some corners of the Street.
NOC
US$549.01
Northrop Grumman
7D
10.7%
1Y
8.1%
Analysis Article • Jun 20

Northrop Grumman (NOC) Stock Could Be 25.2% Undervalued After Record Backlog Update

Backlog, DARPA Project, and What They Mean for Northrop Grumman Stock Northrop Grumman (NOC) is drawing attention after reporting a record backlog of US$95.61b and highlighting its role in DARPA’s Rads to Watts program, giving investors fresh context for the stock’s recent performance. The backlog is tied in part to an expanded B-21 production agreement. It sits alongside full year 2026 guidance calling for sales between US$43.5b and US$44.0b and MTM adjusted EPS of US$27.40 to US$27.90. At...