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U.S. Industrials Sector Analysis

UpdatedMay 22, 2026
DataAggregated Company Financials
Companies1063
  • 7D-2.5%
  • 3M-2.5%
  • 1Y25.2%
  • YTD9.3%

Over the last 7 days, the Industrials industry has dropped 1.7%, driven by Caterpillar declining 5.9%. This takes the industry's 12 month performance to a gain of 25%. As for the next few years, earnings are expected to grow by 17% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 22 May 2026US$7.4tUS$2.9tUS$219.4b25.4x33.9x2.6x
Sun, 19 Apr 2026US$7.5tUS$2.8tUS$214.4b26.3x34.9x2.6x
Tue, 17 Mar 2026US$7.0tUS$2.9tUS$212.2b23.9x32.9x2.4x
Thu, 12 Feb 2026US$7.4tUS$2.9tUS$211.1b26.8x35.2x2.6x
Sat, 10 Jan 2026US$6.7tUS$2.7tUS$210.3b25.4x31.8x2.4x
Mon, 08 Dec 2025US$6.4tUS$2.7tUS$209.6b24.6x30.6x2.3x
Wed, 05 Nov 2025US$6.4tUS$2.7tUS$215.4b24.8x29.9x2.4x
Fri, 03 Oct 2025US$6.4tUS$2.7tUS$209.3b25x30.5x2.4x
Sun, 31 Aug 2025US$6.2tUS$2.7tUS$208.6b25x29.8x2.3x
Tue, 29 Jul 2025US$6.3tUS$2.7tUS$205.8b24.3x30.7x2.3x
Thu, 26 Jun 2025US$5.9tUS$2.7tUS$205.3b22.8x28.8x2.2x
Sat, 24 May 2025US$5.7tUS$2.7tUS$206.3b22.4x27.6x2.1x
Mon, 21 Apr 2025US$5.1tUS$2.7tUS$203.0b19.8x25x1.9x
Wed, 19 Mar 2025US$5.4tUS$2.7tUS$203.5b21.4x26.6x2x
Fri, 14 Feb 2025US$5.7tUS$2.7tUS$206.3b23.6x27.8x2.1x
Sun, 12 Jan 2025US$5.5tUS$2.7tUS$197.0b23.3x28x2x
Tue, 10 Dec 2024US$5.9tUS$2.7tUS$198.3b24.9x30x2.2x
Thu, 07 Nov 2024US$5.7tUS$2.7tUS$193.9b25.3x29.5x2.1x
Sat, 05 Oct 2024US$5.6tUS$2.7tUS$179.9b23.1x31.3x2.1x
Mon, 02 Sep 2024US$5.5tUS$2.7tUS$179.7b22.6x30.4x2x
Wed, 31 Jul 2024US$5.3tUS$2.7tUS$181.5b22.7x29.3x2x
Fri, 28 Jun 2024US$5.1tUS$2.7tUS$170.4b21.2x30.1x1.9x
Sun, 26 May 2024US$5.3tUS$2.7tUS$170.2b22.5x31x2x
Tue, 23 Apr 2024US$5.1tUS$2.7tUS$173.6b22.5x29.3x1.9x
Thu, 21 Mar 2024US$5.2tUS$2.7tUS$172.5b23.1x30.3x2x
Sat, 17 Feb 2024US$5.1tUS$2.7tUS$174.5b22.7x29x1.9x
Mon, 15 Jan 2024US$4.9tUS$2.7tUS$184.2b20.8x26.4x1.8x
Wed, 13 Dec 2023US$4.7tUS$2.7tUS$182.7b20.4x26x1.7x
Fri, 10 Nov 2023US$4.4tUS$2.7tUS$185.4b17.8x23.6x1.6x
Sun, 08 Oct 2023US$4.4tUS$2.7tUS$192.2b17.7x22.7x1.6x
Tue, 05 Sep 2023US$4.7tUS$2.7tUS$189.4b19.4x24.7x1.7x
Thu, 03 Aug 2023US$4.7tUS$2.7tUS$191.2b18.7x24.8x1.7x
Sat, 01 Jul 2023US$4.6tUS$2.7tUS$184.1b18.3x25.1x1.7x
Mon, 29 May 2023US$4.2tUS$2.7tUS$183.1b17x22.9x1.6x
Price to Earnings Ratio

22.9x


Total Market Cap: US$4.2tTotal Earnings: US$183.1bTotal Revenue: US$2.7tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 28.8x202420252026
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 33.3x which is higher than its 3-year average PE of 28.8x.
  • The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.5x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 6.3% per year over the last three years.
  • Revenues for these companies have grown 2.5% 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 Market-0.82%
Industrials-2.48%
Airlines3.82%
Professional Services3.72%
Industrials3.14%
Logistics1.51%
Commercial Services0.81%
Infrastructure0.73%
Transportation-0.16%
Marine and Shipping-0.34%
Aerospace & Defense-0.69%
Trade Distributors-3.77%
Machinery-4.38%
Electrical-5.62%
Building-5.93%
Construction-8.89%
Industry PE
  • Investors are most optimistic about the Construction industry which is trading above its 3-year average PE ratio of 37.4x.
    • Analysts are expecting annual earnings growth of 23.1%, which is lower than the prior year's growth of 30.4% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 16.6x.
Forecasted Growth
  • Analysts are most optimistic on the Construction industry, expecting annual earnings growth of 23% over the next 5 years.
  • However this is lower than its past earnings growth rate of 30% per year.
  • In contrast, the Marine and Shipping industry is expected to see its earnings grow by 8.6% 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
GE General ElectricUS$301.763.5%
+US$10.7b		31.0%PE36.8x
ADP Automatic Data ProcessingUS$220.085.6%
+US$4.7b		-31.6%PE20.2x
HON Honeywell InternationalUS$223.802.8%
+US$3.9b		0.08%PE35.7x
MMM 3MUS$151.604.5%
+US$3.4b		1.2%PE28.4x
DAL Delta Air LinesUS$75.655.7%
+US$2.7b		56.0%PE11x

Latest News

VRT
US$323.40
Vertiv Holdings Co
7D
-14.0%
1Y
210.4%
GEV
US$1,043.82
GE Vernova
7D
-4.3%
1Y
127.5%
DE
US$531.35
Deere
7D
-7.5%
1Y
3.0%
FDX
US$388.91
FedEx
7D
2.4%
1Y
77.7%
CMI
US$638.78
Cummins
7D
-10.8%
1Y
98.5%
ETN
US$381.51
Eaton
7D
-6.5%
1Y
18.8%
BA
US$219.61
Boeing
7D
-4.2%
1Y
8.0%
GE
US$301.76
General Electric
7D
3.5%
1Y
31.0%
ADP
US$220.08
Automatic Data Processing
7D
5.6%
1Y
-31.6%
DAL
US$75.65
Delta Air Lines
7D
5.7%
1Y
56.0%
CAT
US$865.95
Caterpillar
7D
-5.9%
1Y
150.9%
Narrative Update • May 19

CAT: Future Returns Will Reflect Data Center Power And Physical AI Opportunities

Caterpillar's updated analyst price target framework moves from a fair value of about $754 to roughly $913, with analysts generally pointing to firmer profit margin assumptions and a higher future P/E multiple as key drivers of the change, even as they apply a slightly higher discount rate and trim revenue growth expectations. Analyst Commentary Recent Street research on Caterpillar clusters around a consistent theme, with a series of higher price targets and at least one fresh upgrade.
PWR
US$716.91
Quanta Services
7D
-8.1%
1Y
116.7%
HON
US$223.80
Honeywell International
7D
2.8%
1Y
0.08%
Narrative Update • May 17

HON: Aerospace Spin And Portfolio Moves Will Shape Balanced Risk Reward

Analysts modestly lifted the implied fair value for Honeywell International by about $1 to roughly $201, citing refreshed price targets that balance recent target cuts with higher estimates tied to the planned aerospace spin and updated sum of the parts work. Analyst Commentary Recent research on Honeywell highlights a mixed backdrop, with some firms lifting price targets and others trimming them or expressing more muted expectations.
CTAS
US$172.36
Cintas
7D
3.9%
1Y
-22.2%
Narrative Update • May 16

CTAS: UniFirst Deal Is Expected To Support Future Earnings Resilience

Analysts have trimmed their average price targets for Cintas by a few dollars per share, reflecting slightly higher discount rate assumptions and updated views on earnings contributions from the UniFirst deal and other recent research. Analyst Commentary Recent research on Cintas shows a mix of optimism around the UniFirst acquisition and caution around valuation and execution risks, which is feeding into the latest price target revisions.
MMM
US$151.60
3M
7D
4.5%
1Y
1.2%
CHRW
US$178.13
C.H. Robinson Worldwide
7D
11.5%
1Y
84.6%