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U.S. Industrials Sector Analysis

UpdatedFeb 20, 2026
DataAggregated Company Financials
Companies1055
  • 7D2.2%
  • 3M19.0%
  • 1Y29.2%
  • YTD11.6%

Last week, the Industrials industry hasn't moved much but General Electric is up 7.0% in that time. The past year has been better, since the industry has gained 29% in that time. Looking forward, earnings are forecast to grow by 15% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 20 Feb 2026US$7.4tUS$2.8tUS$208.6b26.9x35.7x2.6x
Sun, 18 Jan 2026US$7.0tUS$2.7tUS$209.3b26.1x33.2x2.5x
Tue, 16 Dec 2025US$6.5tUS$2.7tUS$209.6b25x30.9x2.4x
Thu, 13 Nov 2025US$6.4tUS$2.7tUS$211.1b24.5x30.3x2.3x
Sat, 11 Oct 2025US$6.4tUS$2.7tUS$210.1b24.1x30.4x2.4x
Mon, 08 Sep 2025US$6.2tUS$2.7tUS$208.3b25x29.7x2.3x
Wed, 06 Aug 2025US$6.2tUS$2.7tUS$208.8b24.1x29.6x2.3x
Fri, 04 Jul 2025US$6.1tUS$2.7tUS$205.2b24.3x29.6x2.3x
Sun, 01 Jun 2025US$5.7tUS$2.7tUS$206.2b22.4x27.8x2.1x
Tue, 29 Apr 2025US$5.2tUS$2.7tUS$204.6b20.7x25.6x1.9x
Thu, 27 Mar 2025US$5.5tUS$2.7tUS$203.3b21.3x26.9x2x
Sat, 22 Feb 2025US$5.6tUS$2.7tUS$209.4b22.3x26.6x2.1x
Mon, 20 Jan 2025US$5.8tUS$2.7tUS$196.4b24.6x29.5x2.1x
Wed, 18 Dec 2024US$5.8tUS$2.7tUS$198.0b24.1x29.2x2.1x
Fri, 15 Nov 2024US$6.0tUS$2.7tUS$194.6b24.3x30.8x2.2x
Sun, 13 Oct 2024US$5.8tUS$2.7tUS$180.3b23.9x32.1x2.1x
Tue, 10 Sep 2024US$5.3tUS$2.7tUS$179.8b21.2x29.3x2x
Thu, 08 Aug 2024US$5.1tUS$2.7tUS$180.3b20.8x28.3x1.9x
Sat, 06 Jul 2024US$5.1tUS$2.7tUS$170.2b21.2x30.1x1.9x
Mon, 03 Jun 2024US$5.2tUS$2.7tUS$169.9b22.7x30.8x1.9x
Wed, 01 May 2024US$5.1tUS$2.7tUS$169.6b22.1x30.3x1.9x
Fri, 29 Mar 2024US$5.4tUS$2.6tUS$172.6b23.8x31x2x
Sun, 25 Feb 2024US$5.1tUS$2.7tUS$174.3b23.2x29.2x1.9x
Tue, 23 Jan 2024US$4.9tUS$2.7tUS$184.2b21.1x26.7x1.8x
Thu, 21 Dec 2023US$4.9tUS$2.7tUS$182.7b21.1x26.8x1.8x
Sat, 18 Nov 2023US$4.5tUS$2.7tUS$181.9b19.3x24.8x1.7x
Mon, 16 Oct 2023US$4.4tUS$2.7tUS$192.6b17.8x22.8x1.6x
Wed, 13 Sep 2023US$4.5tUS$2.7tUS$189.4b18.3x24x1.7x
Fri, 11 Aug 2023US$4.7tUS$2.7tUS$189.1b18.9x24.7x1.7x
Sun, 09 Jul 2023US$4.5tUS$2.7tUS$185.6b17.9x24.4x1.7x
Tue, 06 Jun 2023US$4.3tUS$2.7tUS$183.0b17.3x23.5x1.6x
Thu, 04 May 2023US$4.2tUS$2.7tUS$186.2b17.7x22.7x1.6x
Sat, 01 Apr 2023US$4.3tUS$2.6tUS$166.2b18.9x25.9x1.6x
Mon, 27 Feb 2023US$4.1tUS$2.6tUS$161.6b18.8x25.2x1.6x
Price to Earnings Ratio

25.2x


Total Market Cap: US$4.1tTotal Earnings: US$161.6bTotal 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 35.7x 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 8.9% per year over the last three years.
  • Revenues for these companies have grown 3.6% 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 Market0.64%
Industrials2.24%
Marine and Shipping8.59%
Aerospace & Defense4.46%
Infrastructure4.29%
Construction3.83%
Professional Services3.72%
Transportation2.11%
Logistics2.10%
Electrical1.93%
Machinery1.74%
Commercial Services1.65%
Trade Distributors0.39%
Airlines-0.79%
Building-0.87%
Industrials-1.69%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 62.5x.
    • Analysts are expecting annual earnings growth of 19.3%, which is higher than its past year's earnings growth of 13.9% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 15.9x.
Forecasted Growth
  • Analysts are most optimistic on the Infrastructure industry, expecting annual earnings growth of 34% 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$334.747.0%
+US$22.9b		60.4%PE40.8x
DE DeereUS$662.0010.7%
+US$17.3b		33.5%PE35.7x
LMT Lockheed MartinUS$666.514.6%
+US$6.7b		52.8%PE30.6x
NOC Northrop GrummanUS$736.876.0%
+US$5.9b		68.2%PE25x
RTX RTXUS$205.412.1%
+US$5.7b		64.2%PE41x

Latest News

DE
US$662.00
Deere
7D
10.7%
1Y
33.5%
BA
US$233.71
Boeing
7D
-2.4%
1Y
29.2%
PWR
US$554.00
Quanta Services
7D
7.4%
1Y
97.0%
BE
US$159.00
Bloom Energy
7D
14.4%
1Y
511.8%
ITW
US$293.82
Illinois Tool Works
7D
-1.6%
1Y
10.7%
RKLB
US$76.58
Rocket Lab
7D
16.0%
1Y
203.2%

RKLB: Future Launch Cadence Will Offset Neutron Testing Setbacks

Analysts recently lifted their Rocket Lab fair value estimate from $68.75 to $83.96, citing updated assumptions around revenue growth, discount rates and long term P/E multiples following a mix of price target changes, rating moves and launch timing commentary across the Street. Analyst Commentary Recent Street research paints a mixed picture around Rocket Lab, with several bullish voices adjusting price targets upward while others question how much upside is already reflected in the shares.
ALLE
US$161.23
Allegion
7D
-9.5%
1Y
26.8%
GE
US$334.74
General Electric
7D
7.0%
1Y
60.4%

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.
DAL
US$67.44
Delta Air Lines
7D
-3.0%
1Y
5.8%

DAL: Premium Demand And 2026 Outlook Will Support Further Upside

The analyst price target for Delta Air Lines has been reduced by approximately $1 to $81.29. Analysts cite minor changes to fair value, discount rate, revenue growth, and profit margin assumptions, reflecting a combination of recent target increases and modest reductions across the Street.
MMM
US$165.05
3M
7D
-5.5%
1Y
10.7%
NOC
US$736.87
Northrop Grumman
7D
6.0%
1Y
68.2%
RTX
US$205.41
RTX
7D
2.1%
1Y
64.2%
ETN
US$377.32
Eaton
7D
-3.3%
1Y
22.2%
UPS
US$115.54
United Parcel Service
7D
-2.1%
1Y
-0.9%
LMT
US$666.51
Lockheed Martin
7D
4.6%
1Y
52.8%
CARR
US$62.92
Carrier Global
7D
-3.0%
1Y
-6.2%

CARR: Heat Pump Progress And AI Energy Tools Will Support Future Upside

Our updated view on Carrier Global lifts the fair value estimate by about US$1 to roughly US$72, as analysts factor in higher assumed revenue growth, a slightly lower discount rate, and a richer future P/E multiple, partially offset by more conservative margin expectations. Analyst Commentary Recent Street research on Carrier Global shows a mix of optimism and caution, with several firms adjusting their price targets within a relatively tight range.