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U.S. Industrials Sector Analysis

UpdatedAug 17, 2026
DataAggregated Company Financials
Companies1076
  • 7D0.6%
  • 3M6.3%
  • 1Y22.5%
  • YTD16.1%

Last week, the Industrials industry hasn't moved much but GE Vernova is up 7.4% in that time. 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, 17 Aug 2026US$8.0tUS$3.0tUS$232.5b26x34.3x2.6x
Wed, 15 Jul 2026US$7.7tUS$2.9tUS$219.3b26.3x35x2.6x
Fri, 12 Jun 2026US$7.4tUS$2.9tUS$219.3b26.2x33.7x2.5x
Sun, 10 May 2026US$7.6tUS$2.9tUS$220.4b26.3x34.3x2.6x
Tue, 07 Apr 2026US$7.0tUS$2.8tUS$215.7b24.2x32.3x2.5x
Thu, 05 Mar 2026US$7.4tUS$2.9tUS$211.3b26.1x35.1x2.6x
Sat, 31 Jan 2026US$7.1tUS$2.9tUS$213.8b25.6x33.2x2.5x
Mon, 29 Dec 2025US$6.5tUS$2.7tUS$210.3b24.7x31x2.4x
Wed, 26 Nov 2025US$6.2tUS$2.7tUS$209.9b24.3x29.6x2.3x
Fri, 24 Oct 2025US$6.3tUS$2.7tUS$210.7b25.8x30.1x2.3x
Sun, 21 Sep 2025US$6.3tUS$2.7tUS$208.5b24.8x30.3x2.3x
Tue, 19 Aug 2025US$6.2tUS$2.7tUS$209.4b24.9x29.4x2.3x
Thu, 17 Jul 2025US$6.1tUS$2.7tUS$206.3b23.7x29.5x2.3x
Sat, 14 Jun 2025US$5.8tUS$2.7tUS$205.1b22.3x28.4x2.2x
Mon, 12 May 2025US$5.5tUS$2.7tUS$206.4b21.6x26.7x2x
Wed, 09 Apr 2025US$4.8tUS$2.7tUS$203.3b18.5x23.5x1.8x
Fri, 07 Mar 2025US$5.5tUS$2.7tUS$204.0b21.3x26.8x2x
Sun, 02 Feb 2025US$5.8tUS$2.7tUS$202.4b24.2x28.6x2.2x
Tue, 31 Dec 2024US$5.6tUS$2.7tUS$197.9b23.5x28.2x2.1x
Thu, 28 Nov 2024US$6.1tUS$2.7tUS$197.0b24.8x30.9x2.2x
Sat, 26 Oct 2024US$5.7tUS$2.7tUS$188.5b23.4x30.2x2.1x
Mon, 23 Sep 2024US$5.5tUS$2.7tUS$179.5b22.5x30.9x2.1x
Wed, 21 Aug 2024US$5.3tUS$2.7tUS$179.3b22x29.7x2x
Fri, 19 Jul 2024US$5.4tUS$2.7tUS$169.9b22.6x31.5x2x
Sun, 16 Jun 2024US$5.1tUS$2.7tUS$170.1b20.9x30x1.9x
Tue, 14 May 2024US$5.3tUS$2.7tUS$171.4b23.1x30.9x2x
Thu, 11 Apr 2024US$5.3tUS$2.7tUS$173.5b22.8x30.7x2x
Sat, 09 Mar 2024US$5.2tUS$2.7tUS$172.6b23.1x30x1.9x
Mon, 05 Feb 2024US$5.0tUS$2.7tUS$175.3b21.6x28.5x1.8x
Wed, 03 Jan 2024US$4.9tUS$2.7tUS$182.9b21.4x26.8x1.8x
Fri, 01 Dec 2023US$4.6tUS$2.7tUS$182.5b19.2x25x1.7x
Sun, 29 Oct 2023US$4.2tUS$2.7tUS$182.7b16.8x22.8x1.5x
Tue, 26 Sep 2023US$4.4tUS$2.7tUS$189.4b17.9x23.3x1.6x
Thu, 24 Aug 2023US$4.6tUS$2.7tUS$189.3b18.8x24.2x1.7x
Price to Earnings Ratio

24.2x


Total Market Cap: US$4.6tTotal Earnings: US$189.3bTotal Revenue: US$2.7tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 29.6x202420252026
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 34.3x which is higher than its 3-year average PE of 29.6x.
  • The 3-year average PS ratio of 2.1x 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 7.1% 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 Market0.63%
Industrials0.58%
Electrical3.85%
Marine and Shipping3.14%
Construction1.92%
Logistics1.61%
Aerospace & Defense0.84%
Transportation0.79%
Professional Services0.49%
Trade Distributors-0.45%
Machinery-0.48%
Commercial Services-0.78%
Building-1.10%
Industrials-1.80%
Infrastructure-3.18%
Airlines-3.98%
Industry PE
  • Investors are most optimistic about the Construction industry which is trading above its 3-year average PE ratio of 38.8x.
    • Analysts are expecting annual earnings growth of 25.4%, which is lower than the prior year's growth of 43.2% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 17.2x.
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 43% per year.
  • In contrast, the Marine and Shipping industry is expected to see its earnings decline by 2.4% 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
GEV GE VernovaUS$1.06k7.3%
+US$19.3b		70.1%PE29.7x
VRT Vertiv Holdings CoUS$293.848.8%
+US$9.1b		116.6%PE65.3x
CAT CaterpillarUS$856.572.3%
+US$8.7b		107.6%PE36.3x
BE Bloom EnergyUS$229.949.2%
+US$5.7b		394.5%PE276.5x
PWR Quanta ServicesUS$685.783.8%
+US$3.7b		78.9%PE77.7x

Latest News

BE
US$229.94
Bloom Energy
7D
9.2%
1Y
394.5%
FAST
US$51.02
Fastenal
7D
-2.2%
1Y
3.9%
Narrative Update • Aug 16

FAST: Embedded Customer Solutions And Buybacks Will Support Future Earnings Power

Fastenal's updated analyst price target has moved from $55.00 to $59.00 as analysts factor in refreshed assumptions on revenue growth, profit margins, and future P/E, supported by recent research that highlights the company's onsite and vending transition and updated post Q2 estimates. Analyst Commentary Recent research on Fastenal points to a mixed but generally constructive tone, with several bullish analysts highlighting the company’s execution on onsite locations and vending, as well as solid sales trends around Q2.
ACM
US$63.11
AECOM
7D
-13.9%
1Y
-47.5%
New Narrative • Aug 15

AECOM: The Infrastructure Compounder Hiding in Plain Sight

AECOM's Q3 tells a story of two businesses at once: a headline quarter hit by a $337 million project charge, and an underlying infrastructure business that is still winning work at a record pace. The distinction is important.
UBER
US$75.95
Uber Technologies
7D
-2.7%
1Y
-19.2%
New Narrative • Aug 15

Uber’s Valuation Depends On Who Captures The Economics Of Driverless Rides

The market is no longer debating whether Uber can become profitable. It is debating who owns the economics of transportation when the driver disappears.
EMR
US$163.17
Emerson Electric
7D
2.8%
1Y
23.8%
FERG
US$244.94
Ferguson Enterprises
7D
-7.1%
1Y
6.0%
Narrative Update • Aug 14

FERG: Large Project Pipeline And Capital Investments Will Support Stronger Future Upside

Analysts have raised their aggregate price targets on Ferguson into a wide $256 to $325 range, citing Q2 earnings beats, steady share gains, and strong large project exposure that is helping offset softer residential demand. Analyst Commentary Recent Street research on Ferguson points to a broadly constructive tone following the Q2 earnings report.
ETN
US$451.51
Eaton
7D
1.5%
1Y
27.7%
VRT
US$293.84
Vertiv Holdings Co
7D
8.8%
1Y
116.6%
Narrative Update • Aug 13

VRT: AI Data Center Infrastructure Demand Will Drive Future Upside

Analysts now set a lower price target for Vertiv Holdings Co at $427, down from $461. This change reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
FIX
US$1,774.06
Comfort Systems USA
7D
5.9%
1Y
155.0%
RTX
US$222.97
RTX
7D
-0.5%
1Y
43.4%
GEV
US$1,063.25
GE Vernova
7D
7.3%
1Y
70.1%
Seeking Alpha • Aug 12

GE Vernova: Hard To See Much Upside With Expectations This High

Summary GEV is sitting right on two of AI's nastiest bottlenecks: power availability and grid equipment. The real question is how fast GEV can turn that backlog into capacity, revenue, and margins. The ~31% long-term EPS growth story looks doable through 2028, but the math gets much tougher once the easy margin expansion is behind it. The business still looks red hot, but at 28x 2028E earnings, the stock leaves very little room for anything less than near-perfect execution. Read the full article on Seeking Alpha
CAT
US$856.57
Caterpillar
7D
2.3%
1Y
107.6%
PWR
US$685.78
Quanta Services
7D
3.8%
1Y
78.9%
Narrative Update • Aug 12

PWR: AI Power And Data Center Backlog Will Drive Multiyear Upside

Analysts have nudged their fair value estimate for Quanta Services higher to $976 from $940, reflecting updated assumptions that incorporate stronger revenue expectations, a richer future P/E of about 62x, and recent research that highlights the stock's scale, backlog supports, and role in power and data center investment themes. Analyst Commentary Recent Street research on Quanta Services points to a generally constructive view on the stock, with many bullish analysts highlighting execution on large projects, exposure to power and data center spending, and a pipeline that they see as supportive of premium valuation multiples.
RBA
US$84.26
RB Global
7D
-10.2%
1Y
-27.0%
HON
US$233.96
Honeywell International
7D
-3.7%
1Y
-45.9%
Narrative Update • Aug 10

HON: Post Aerospace Spin Automation Focus And Orders Will Shape Balanced 2026 Outlook

Honeywell International’s updated analyst price target moves higher to around $263, with analysts pointing to cleaner post spin results, stronger order trends across automation businesses, and greater confidence in the company’s focused portfolio and earnings potential as key supports for the new valuation framework. Analyst Commentary Recent Street research on Honeywell International highlights a clear split between bullish analysts who see improving execution in the post aerospace spin structure and more cautious voices focused on guidance resets and modeling noise.
CTAS
US$199.52
Cintas
7D
-1.6%
1Y
-6.9%