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U.S. Industrials Sector Analysis

UpdatedSep 18, 2026
DataAggregated Company Financials
Companies1074
  • 7D-0.7%
  • 3M-8.9%
  • 1Y8.3%
  • YTD4.8%

The Industrials is pretty flat in the last 7 days, but Bloom Energy has stood out, gaining 8.6%. As for the the longer term, the industry is up 8.3% over the past 12 months. 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
Fri, 18 Sep 2026US$7.2tUS$3.0tUS$232.5b23.6x30.8x2.4x
Sun, 16 Aug 2026US$8.0tUS$3.0tUS$232.6b26x34.3x2.6x
Tue, 14 Jul 2026US$7.7tUS$2.9tUS$219.3b26.2x35.3x2.7x
Thu, 11 Jun 2026US$7.6tUS$2.9tUS$219.3b25.8x34.8x2.6x
Sat, 09 May 2026US$7.6tUS$2.9tUS$220.4b26.3x34.3x2.6x
Mon, 06 Apr 2026US$7.0tUS$2.8tUS$215.5b24.2x32.4x2.5x
Wed, 04 Mar 2026US$7.6tUS$2.9tUS$212.8b25.9x35.7x2.7x
Fri, 30 Jan 2026US$7.0tUS$2.9tUS$213.8b25.6x32.9x2.5x
Sun, 28 Dec 2025US$6.5tUS$2.7tUS$210.3b24.7x31x2.4x
Tue, 25 Nov 2025US$6.2tUS$2.7tUS$209.8b23.8x29.3x2.2x
Thu, 23 Oct 2025US$6.4tUS$2.7tUS$210.0b25.2x30.7x2.4x
Sat, 20 Sep 2025US$6.3tUS$2.7tUS$208.5b24.7x30.2x2.3x
Mon, 18 Aug 2025US$6.2tUS$2.7tUS$209.4b24.6x29.4x2.3x
Wed, 16 Jul 2025US$6.1tUS$2.7tUS$206.3b23.7x29.7x2.3x
Fri, 13 Jun 2025US$5.8tUS$2.7tUS$205.2b22.9x28.5x2.2x
Sun, 11 May 2025US$5.5tUS$2.7tUS$206.4b21.6x26.7x2.1x
Tue, 08 Apr 2025US$4.8tUS$2.7tUS$203.3b18.9x23.7x1.8x
Thu, 06 Mar 2025US$5.4tUS$2.7tUS$204.1b21.5x26.3x2x
Sat, 01 Feb 2025US$5.8tUS$2.7tUS$202.4b24.2x28.8x2.2x
Mon, 30 Dec 2024US$5.6tUS$2.7tUS$197.9b23.7x28.2x2.1x
Wed, 27 Nov 2024US$6.1tUS$2.7tUS$197.1b24.7x30.8x2.2x
Fri, 25 Oct 2024US$5.7tUS$2.7tUS$187.7b23.5x30.4x2.1x
Sun, 22 Sep 2024US$5.5tUS$2.7tUS$179.5b22.5x30.9x2.1x
Tue, 20 Aug 2024US$5.3tUS$2.7tUS$178.7b22.1x29.6x2x
Thu, 18 Jul 2024US$5.4tUS$2.7tUS$169.6b22.7x32.1x2x
Sat, 15 Jun 2024US$5.2tUS$2.7tUS$170.1b20.9x30.4x1.9x
Mon, 13 May 2024US$5.3tUS$2.7tUS$171.4b23.5x31.1x2x
Wed, 10 Apr 2024US$5.3tUS$2.7tUS$173.1b23.5x30.8x2x
Fri, 08 Mar 2024US$5.2tUS$2.7tUS$172.7b23.3x30.1x2x
Sun, 04 Feb 2024US$5.0tUS$2.7tUS$175.3b21.6x28.5x1.8x
Tue, 02 Jan 2024US$4.9tUS$2.7tUS$183.0b21.6x27x1.8x
Thu, 30 Nov 2023US$4.5tUS$2.7tUS$182.4b19.2x24.9x1.7x
Sat, 28 Oct 2023US$4.2tUS$2.7tUS$182.7b16.8x22.8x1.5x
Mon, 25 Sep 2023US$4.4tUS$2.7tUS$189.4b17.9x23.2x1.6x
Price to Earnings Ratio

23.2x


Total Market Cap: US$4.4tTotal Earnings: US$189.4bTotal Revenue: US$2.7tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 29.9x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Industrials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 29.9x.
  • The 3-year average PS ratio of 2.2x 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 7.1% per year over the last three years.
  • Revenues for these companies have grown 3.3% 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 Market0.54%
Industrials-0.71%
Marine and Shipping2.20%
Airlines1.62%
Industrials1.52%
Electrical0.56%
Professional Services0.41%
Trade Distributors0.099%
Machinery-0.46%
Logistics-0.49%
Commercial Services-0.62%
Construction-1.18%
Aerospace & Defense-1.60%
Transportation-2.18%
Building-2.20%
Infrastructure-2.98%
Industry PE
  • Investors are most optimistic about the Construction industry which is trading above its 3-year average PE ratio of 39.7x.
    • Analysts are expecting annual earnings growth of 24.9%, which is lower than the prior year's growth of 40.4% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 17.4x.
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 40% per year.
  • In contrast, the Marine and Shipping industry is expected to see its earnings decline by 5.0% 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
BE Bloom EnergyUS$280.768.6%
+US$6.6b		246.7%PE337.6x
HONA Honeywell AerospaceUS$167.138.7%
+US$4.2b		n/aPE27.2x
RKLB Rocket LabUS$67.829.5%
+US$3.5b		43.7%PS52.8x
FPS Forgent Power SolutionsUS$38.0630.3%
+US$3.3b		n/aPE127.7x
DE DeereUS$685.631.1%
+US$2.1b		44.0%PE37.9x

Latest News

UBER
US$70.87
Uber Technologies
7D
-2.3%
1Y
-25.2%
JBHT
US$236.80
J.B. Hunt Transport Services
7D
-11.6%
1Y
75.3%
RTX
US$193.54
RTX
7D
-2.3%
1Y
22.3%
VICR
US$216.39
Vicor
7D
21.5%
1Y
301.9%
BE
US$280.76
Bloom Energy
7D
8.6%
1Y
246.7%
Narrative Update • Sep 17

BE: AI Data Center Power Economics And S&P 500 Entry Will Shape Outlook

Analysts have adjusted their price targets for Bloom Energy, reflecting updated views on fair value to about $280.24, a slightly lower assumed discount rate, more moderate revenue growth expectations, and a higher projected profit margin and future P/E multiple. What’s in the News for Bloom Energy Bloom Energy released a special report on its 800V DC native fuel cell solution for AI data centers, stating that a 1 GW facility using this architecture could see non compute capital expenditures that are US$3.6b, or 27%, lower and a five year total cost of ownership that is US$5.5b, or 9%, lower compared with traditional setups, according to the company.
RKLB
US$67.82
Rocket Lab
7D
9.5%
1Y
43.7%
Narrative Update • Sep 17

RKLB: Defense And Iridium Integration Will Define Vertically Integrated Future

Rocket Lab's updated analyst price target has moved modestly lower to about $65 from roughly $68, as analysts factor in stronger projected revenue growth and slightly better profit margins, alongside higher execution and integration risks tied to Neutron and the Iridium acquisition. Analyst Commentary Recent Street research on Rocket Lab highlights a mix of optimism around its vertically integrated space platform and caution tied to valuation, execution risks, and the scale of its acquisition plans.
CMI
US$523.88
Cummins
7D
-4.8%
1Y
22.9%
Seeking Alpha • Sep 16

Cummins: Data Center Demand And Truck Recovery Support A Multi-Year Growth Outlook

Summary Cummins Inc. is rated a Buy, driven by robust multi-year demand from data center power generation and recovering North American truck markets. CMI's order book extends through 2028, with capacity expansion targeting 55 GW by 2030 and data center revenue projected to grow from $5B in 2026 to $9B by 2030. New HELM engine platforms and a growing installed base underpin recurring aftermarket revenues and margin support as production ramps. Trading at 18.24x FY26 EPS, CMI offers an attractive risk-reward profile versus the sector and peer Caterpillar, with consensus EPS growth of 24.73% this year and 16.32% next. Read the full article on Seeking Alpha
FPS
US$38.06
Forgent Power Solutions
7D
30.3%
1Y
n/a
CAT
US$798.57
Caterpillar
7D
-0.8%
1Y
71.0%
GE
US$313.47
General Electric
7D
-3.3%
1Y
5.5%
Seeking Alpha • Sep 14

GE Aerospace: Hedge Funds Love The Stock, So Should You

Summary GE remains an exceptional asset with a dominant competitive position, razor-blade economics and structurally growing end markets. CPP acquisition should help GE recapturing value from parts suppliers which have profited of a tight market in high-performance castings. EPS is poised for mid-teens compounding driven by LEAP rollout, operating leverage and shareholder-friendly capital allocation. Valuation is elevated, yet entirely fair. Assuming no multiple expansion we estimate ~15% annual TSR potential through 2030. Read the full article on Seeking Alpha
DE
US$685.63
Deere
7D
1.1%
1Y
44.0%
Seeking Alpha • Sep 11

Deere & Company: Showing Leverage, But Not Enough To Justify The Share Price

Summary John Deere receives a Hold rating due to a disconnect between muted revenue growth expectations and a sharply elevated share price. Despite strong segmental performance and margin improvements, DE’s forward valuation at 39x FWD EV/EBIT is not justified by high single-digit revenue growth. Construction & Forestry and Small Ag & Turf segments are offsetting weakness in Production & Precision Ag, with robust demand and margin expansion aided by price realization. Recurring customer loyalty and a dominant market position support a premium, but cyclical end markets and margin pressures cap upside at the current valuation. Read the full article on Seeking Alpha
HONA
US$167.13
Honeywell Aerospace
7D
8.7%
1Y
n/a
Seeking Alpha • Sep 11

Honeywell Aerospace: 2026 Is A Year Of Reset, I'll Keep Watching

Summary Honeywell Aerospace shares are down 30% since my previous article, making the valuation more attractive, but operational improvements are needed before considering investment. HONA's Q2 saw 5% sales growth and a 9% backlog increase, but operating margins dropped sharply due to spinoff charges, higher costs, and supply constraints. Management cut 2026 organic sales growth and EBIT guidance significantly, citing supplier bottlenecks and slow aerospace manufacturing qualification as near-term headwinds. I expect 2026 to be a reset year for HONA, with more promising operational and financial improvements anticipated in 2027 as supply chain investments take effect. Read the full article on Seeking Alpha
TT
US$423.33
Trane Technologies
7D
-3.8%
1Y
5.2%
LMT
US$538.09
Lockheed Martin
7D
1.5%
1Y
13.6%
Narrative Update • Sep 08

LMT: Missile Demand And Margin Uncertainty Will Shape Future Earnings Path

Lockheed Martin's analyst price target has been nudged higher to $522.29 from $511.00 as analysts factor in assumptions of stronger missiles and munitions growth, raised long-term revenue estimates, and recent earnings beats that they see as underappreciated by the market. Analyst Commentary Recent Street research on Lockheed Martin shows a wide range of views on how much upside remains in the stock, even as many firms lift their price targets following recent earnings and updated long term assumptions.
BA
US$197.00
Boeing
7D
-3.8%
1Y
-8.7%
Seeking Alpha • Sep 07

Boeing And Airbus: A Surprisingly Close Race

Summary Boeing and Airbus are both showing robust recovery in deliveries, with combined output near pre-pandemic levels and strong order backlogs. Airbus leads the 2026 order race, securing 1,024 net orders versus Boeing’s 438, and holds a $23.1 billion advantage in net order value. Delivery volumes are up 12% year-over-year for both, with Airbus surpassing its 2018 benchmark and Boeing recovering to 88% of pre-crisis levels. I remain bullish on both, expecting backlog conversion to drive revenue, profit, and free cash flow as production normalizes, with delivery growth as the key metric. Read the full article on Seeking Alpha
ADP
US$272.24
Automatic Data Processing
7D
1.8%
1Y
-6.4%
Narrative Update • Sep 03

ADP: Slowing Bookings And Float Dependence Will Likely Restrain Future Upside

Automatic Data Processing's updated fair value estimate has shifted from about $190.85 to roughly $244.12 as analysts lift price targets across the board, citing steadier underlying Employer Services trends, achievable fintech earnings expectations, and recent guidance that aligns with current revenue and EPS consensus views. Analyst Commentary Recent Street research on Automatic Data Processing shows a cluster of higher price targets, but the tone is mixed.