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U.S. Industrials Sector Analysis

UpdatedMar 06, 2026
DataAggregated Company Financials
Companies1056
  • 7D-3.1%
  • 3M10.7%
  • 1Y32.6%
  • YTD8.4%

Over the last 7 days, the Industrials industry has dropped 3.1%, driven by a pullback from Caterpillar of 6.2%. This takes the industry's 12 month performance to a gain of 33%. 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, 06 Mar 2026US$7.5tUS$2.9tUS$213.0b25.6x35.1x2.6x
Sun, 01 Feb 2026US$7.1tUS$2.9tUS$214.0b25.9x33x2.5x
Tue, 30 Dec 2025US$6.5tUS$2.7tUS$210.3b24.6x30.9x2.4x
Thu, 27 Nov 2025US$6.3tUS$2.7tUS$209.7b24.4x30x2.3x
Sat, 25 Oct 2025US$6.4tUS$2.7tUS$211.0b25.9x30.4x2.4x
Mon, 22 Sep 2025US$6.3tUS$2.7tUS$208.5b24.8x30.3x2.3x
Wed, 20 Aug 2025US$6.2tUS$2.7tUS$209.4b24.6x29.5x2.3x
Fri, 18 Jul 2025US$6.1tUS$2.7tUS$206.0b23.9x29.7x2.3x
Sun, 15 Jun 2025US$5.8tUS$2.7tUS$205.1b22.3x28.2x2.1x
Tue, 13 May 2025US$5.5tUS$2.7tUS$206.4b22.2x26.7x2.1x
Thu, 10 Apr 2025US$4.7tUS$2.7tUS$203.5b20.3x23.3x1.8x
Sat, 08 Mar 2025US$5.4tUS$2.7tUS$204.0b21.8x26.5x2x
Mon, 03 Feb 2025US$5.8tUS$2.7tUS$202.6b24.2x28.6x2.2x
Wed, 01 Jan 2025US$5.5tUS$2.7tUS$197.9b23.5x28x2x
Fri, 29 Nov 2024US$6.1tUS$2.7tUS$197.1b24.8x30.7x2.2x
Sun, 27 Oct 2024US$5.7tUS$2.7tUS$188.5b23.4x30.1x2.1x
Tue, 24 Sep 2024US$5.5tUS$2.7tUS$179.5b22.5x30.9x2.1x
Thu, 22 Aug 2024US$5.3tUS$2.7tUS$179.2b22.4x29.6x2x
Sat, 20 Jul 2024US$5.3tUS$2.7tUS$169.9b22.4x31.3x2x
Mon, 17 Jun 2024US$5.1tUS$2.7tUS$170.1b20.9x30x1.9x
Wed, 15 May 2024US$5.3tUS$2.7tUS$171.4b23.3x30.9x2x
Fri, 12 Apr 2024US$5.3tUS$2.7tUS$173.8b23.2x30.4x2x
Sun, 10 Mar 2024US$5.2tUS$2.7tUS$172.6b23.1x30x2x
Tue, 06 Feb 2024US$4.9tUS$2.7tUS$174.8b21.4x27.9x1.8x
Thu, 04 Jan 2024US$4.8tUS$2.7tUS$182.9b20.9x26.3x1.8x
Sat, 02 Dec 2023US$4.6tUS$2.7tUS$182.5b19.9x25.2x1.7x
Mon, 30 Oct 2023US$4.2tUS$2.7tUS$183.4b16.7x22.7x1.5x
Wed, 27 Sep 2023US$4.4tUS$2.7tUS$189.4b17.7x23x1.6x
Fri, 25 Aug 2023US$4.5tUS$2.7tUS$189.3b18.6x23.9x1.7x
Sun, 23 Jul 2023US$4.7tUS$2.7tUS$188.0b18.1x24.9x1.7x
Tue, 20 Jun 2023US$4.5tUS$2.7tUS$182.7b18.5x24.7x1.7x
Thu, 18 May 2023US$4.2tUS$2.7tUS$183.8b17.2x23.1x1.6x
Sat, 15 Apr 2023US$4.3tUS$2.6tUS$167.1b18.2x25.5x1.6x
Mon, 13 Mar 2023US$4.0tUS$2.6tUS$162.5b18x24.5x1.6x
Price to Earnings Ratio

24.5x


Total Market Cap: US$4.0tTotal Earnings: US$162.5bTotal Revenue: US$2.6tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 28.2x202420252026
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 35.1x which is higher than its 3-year average PE of 28.2x.
  • 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 9.4% per year over the last three years.
  • Revenues for these companies have grown 3.7% 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-1.24%
Industrials-3.13%
Commercial Services1.72%
Professional Services0.97%
Aerospace & Defense-0.87%
Transportation-1.09%
Trade Distributors-2.02%
Marine and Shipping-2.45%
Industrials-2.71%
Machinery-4.72%
Building-5.52%
Construction-5.86%
Logistics-6.07%
Electrical-6.30%
Infrastructure-7.45%
Airlines-14.74%
Industry PE
  • Investors are most optimistic about the Electrical industry, which is trading close to its 3-year average PE ratio of 62.9x.
    • Analysts are expecting annual earnings growth of 19.4%, which is higher than its past year's earnings growth of 15.3% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 16.0x.
Forecasted Growth
  • Analysts are most optimistic on the Infrastructure industry, expecting annual earnings growth of 25% 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 decline by 3.1% 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
RTX RTXUS$203.863.2%
+US$8.4b		58.9%PE40.6x
WM Waste ManagementUS$246.095.2%
+US$4.9b		8.9%PE36.7x
NOC Northrop GrummanUS$740.014.1%
+US$4.1b		55.7%PE25.1x
LMT Lockheed MartinUS$655.002.1%
+US$3.1b		41.9%PE30x
GD General DynamicsUS$360.702.8%
+US$2.7b		36.3%PE23.1x

Latest News

WM
US$246.09
Waste Management
7D
5.2%
1Y
8.9%
NOC
US$740.01
Northrop Grumman
7D
4.1%
1Y
55.7%
UAL
US$95.43
United Airlines Holdings
7D
-18.0%
1Y
10.6%
CAT
US$706.08
Caterpillar
7D
-6.2%
1Y
107.1%

CAT: Data Center Power Dependence Will Likely Cap Future Return Potential

Caterpillar's updated fair value estimate has increased from about $475 to $521, as analysts factor in stronger projected revenue growth, a higher future P/E multiple, and ongoing demand in private non residential construction and data center power projects. Analyst Commentary Recent Street research on Caterpillar has been skewed toward higher price targets and generally constructive views, with several firms lifting their expectations alongside stronger assumptions for private non residential construction and data center related demand.
ODFL
US$210.68
Old Dominion Freight Line
7D
6.2%
1Y
18.6%

ODFL: Freight Network And Buybacks Will Support Higher Long Term Earnings Power

Old Dominion Freight Line's updated analyst price target edges higher to $210, as analysts highlight the resilience of its capital intensive freight network model and factor in slightly stronger revenue growth and profitability assumptions alongside a modestly lower future P/E. Analyst Commentary Recent research shows a split tape around Old Dominion, with a clear cluster of bullish analysts lifting their targets and, in some cases, their ratings as they reassess the freight cycle and the value of hard assets in trucking.
GE
US$326.99
General Electric
7D
-4.1%
1Y
66.8%

GE: Aerospace Moat And Long Cycle Services Will Drive Future Returns

The analyst fair value estimate for General Electric has moved from $394.00 to about $424.14 as analysts factor in a higher assumed revenue growth rate, a modestly different discount rate, and Street research highlighting GE Aerospace as a "best in class" operator with a deep competitive moat in a long cycle industry. Analyst Commentary Recent Street research on General Electric, and specifically GE Aerospace, has leaned constructive, with several bullish analysts updating their views around quality of execution, earnings power, and cash generation.
ETN
US$354.79
Eaton
7D
-5.3%
1Y
27.8%
DE
US$590.69
Deere
7D
-4.6%
1Y
22.3%
LMT
US$655.00
Lockheed Martin
7D
2.1%
1Y
41.9%
RSG
US$231.67
Republic Services
7D
3.2%
1Y
0.08%

RSG: Renewable Gas Buildout And Capital Returns Will Support Steady Outlook

Analysts have trimmed their price target on Republic Services slightly to $244.04 from $244.21. This reflects updated assumptions around a marginally different discount rate, revenue growth outlook, profit margin expectations, and future P/E estimates.
RTX
US$203.86
RTX
7D
3.2%
1Y
58.9%

RTX: Fair Value View Weighs Aerospace Demand Against Defense Policy Constraints

Analysts have nudged their RTX fair value estimate higher to $216.92 from $214.54, reflecting updated targets across major firms that highlight slightly stronger revenue growth assumptions, a modestly adjusted discount rate, and a similar forward P/E outlook despite a small trim to profit margin expectations. Analyst Commentary Recent research updates cluster around a series of higher price targets for RTX, which helps explain the modest lift in the consolidated fair value estimate.
GEV
US$815.01
GE Vernova
7D
-7.0%
1Y
178.0%

GE Vernova (GEV): Powering the Future: Electrons at Scale: The Grid’s New Sovereign

The narrative for GE Vernova in 2026 is centered on one word: Backlog. With a total backlog of $150 billion , the company has effectively "sold out" its capacity for years to come.
GD
US$360.70
General Dynamics
7D
2.8%
1Y
36.3%
PH
US$965.42
Parker-Hannifin
7D
-4.9%
1Y
53.0%

Parker-Hannifin (PH) The Industrial Alchemist: Transforming Motion into Margin

Parker-Hannifin (PH) has ascended to a new stratosphere of industrial performance, with its stock trading at $1,022.24 as of the market close on February 20, 2026. The company’s recent "record-shattering" Q2 FY2026 earnings report, delivered on January 29, showcased a masterclass in operational efficiency, with adjusted EPS hitting $7.65 —a 17% increase year-over-year.
UPS
US$104.07
United Parcel Service
7D
-10.8%
1Y
-13.6%

UPS: Labor Disputes And Fleet Disruptions Will Pressure Margins And Sentiment

The analyst fair value estimate for United Parcel Service has been lifted from about $80.28 to roughly $85.08 as analysts factor in higher revenue growth assumptions, slightly stronger profit margins, and a higher future P/E multiple supported by a wave of recent price target increases and upgrades across the Street. Analyst Commentary Recent research on United Parcel Service shows a mix of optimism and caution, with several firms adjusting price targets and ratings as they refine outlooks for earnings, margins, and sector conditions through 2026.
CTAS
US$204.53
Cintas
7D
3.2%
1Y
2.0%