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U.S. Industrials Sector Analysis

UpdatedJan 18, 2026
DataAggregated Company Financials
Companies1069
  • 7D3.0%
  • 3M8.6%
  • 1Y21.2%
  • YTD6.5%

Over the last 7 days, the Industrials industry has risen 2.9%, and RTX contributed the most with a gain of 7.1%. This takes the industry's 12 month performance to a gain of 21%. Looking forward, earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Wed, 25 Jan 2023US$4.1tUS$2.5tUS$162.2b18.6x25.2x1.6x
Price to Earnings Ratio

25.2x


Total Market Cap: US$4.1tTotal Earnings: US$162.2bTotal Revenue: US$2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 27.8x202420252026
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 33.2x which is higher than its 3-year average PE of 27.8x.
  • The 3-year average PS ratio of 2.0x 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 8.9% per year over the last three years.
  • Revenues for these companies have grown 2.7% 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-0.29%
Industrials2.96%
Construction8.43%
Electrical6.29%
Aerospace & Defense4.69%
Industrials3.98%
Machinery3.32%
Building2.34%
Trade Distributors1.74%
Marine and Shipping1.58%
Commercial Services1.21%
Transportation-0.11%
Logistics-0.16%
Professional Services-1.48%
Airlines-2.16%
Infrastructure-2.88%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 61.0x.
    • Analysts are expecting annual earnings growth of 22.2%, which is higher than its past year's earnings growth of 16.6% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 15.7x.
Forecasted Growth
  • Analysts are most optimistic on the Infrastructure industry, expecting annual earnings growth of 38% 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 grow by 2.0% 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
RTX RTXUS$201.927.1%
+US$18.0b		66.7%PE41.1x
GEV GE VernovaUS$681.559.5%
+US$16.0b		69.8%PE108.5x
CAT CaterpillarUS$646.894.7%
+US$13.7b		67.6%PE32.6x
BA BoeingUS$247.685.6%
+US$10.0b		44.8%PS2.3x
LMT Lockheed MartinUS$582.437.3%
+US$9.1b		18.8%PE32.1x

Latest News

DAL
US$70.43
Delta Air Lines
7D
-2.6%
1Y
7.0%
ADP
US$260.44
Automatic Data Processing
7D
-2.1%
1Y
-12.1%
FDX
US$308.18
FedEx
7D
-1.3%
1Y
12.0%
CAT
US$646.89
Caterpillar
7D
4.7%
1Y
67.6%
URI
US$921.24
United Rentals
7D
-1.9%
1Y
19.5%
DE
US$514.40
Deere
7D
5.4%
1Y
12.9%
LMT
US$582.43
Lockheed Martin
7D
7.3%
1Y
18.8%
GRAB
US$4.38
Grab Holdings
7D
-9.7%
1Y
-2.7%
HON
US$219.39
Honeywell International
7D
5.8%
1Y
-1.4%
ETN
US$343.75
Eaton
7D
5.9%
1Y
-0.7%

ETN: AI Data Center Demand And Boyd Thermal Deal Will Drive Upside

Analysts have adjusted their price targets on Eaton, with changes such as Barclays moving to $350 and RBC Capital to $432. They cite a firmer demand backdrop tied to artificial intelligence driven orders and expectations around data center exposure and the Boyd Thermal acquisition, which together support a higher fair value estimate of about $470.67 per share in the latest update.
GEV
US$681.55
GE Vernova
7D
9.5%
1Y
69.8%

GEV: Future Buybacks And Dividend Moves Will Mask Overvaluation Risk

Analysts have raised their price target on GE Vernova from US$448.08 to US$538.80, citing updated assumptions for revenue growth, profit margin, discount rate and future P/E. They view these updates as better reflecting the company’s potential risk and return profile.
RTX
US$201.92
RTX
7D
7.1%
1Y
66.7%

RTX: Defense Policy Shifts And Commercial Aerospace Demand Will Shape Balanced Prospects

RTX's fair value estimate has been adjusted slightly higher to about $197 from about $195, as analysts factor in updated price targets and ongoing expectations for strong commercial aerospace demand, along with potential changes to defense budgeting and capital returns across the sector. Analyst Commentary Recent research on RTX focuses on how potential defense policy shifts and strong commercial aerospace demand could interact with capital return policies and long term growth expectations.
UBER
US$84.85
Uber Technologies
7D
-0.7%
1Y
26.0%

UBER: Autonomous Partnerships And AI Are Expected To Support Long Term Margins

Analysts have nudged their fair value estimate for Uber slightly lower to about $111, reflecting modestly higher discount-rate assumptions. They continue to highlight AI driven revenue opportunities, ongoing autonomous vehicle partnerships, and a focus on long term margins and capital allocation in recent price target updates across the Street.
ULS
US$75.00
UL Solutions
7D
-11.1%
1Y
44.4%

ULS: Index Additions And Expanded Testing Network Will Support Measured Upside

Narrative Update on UL Solutions Analysts have kept their price target for UL Solutions effectively unchanged at about $91.71. This reflects only minimal tweaks to assumptions around discount rate, revenue growth, profit margin, and future P/E, rather than a shift in their overall view of the company.
BA
US$247.68
Boeing
7D
5.6%
1Y
44.8%

BA: Defense Wins And Widebody Demand Will Support Balanced Future Prospects

Analysts have made a modest upward adjustment to their price target for Boeing to about $247 per share from roughly $244, citing updated assumptions for fair value, discount rate, revenue growth, profit margins and future P/E levels. What's in the News EVA Airways plans to purchase four 787-9 aircraft from Boeing, with a total transaction value capped at US$1.94b, subject to board approval and price negotiation based on market levels (client announcement).
UAL
US$113.49
United Airlines Holdings
7D
-3.3%
1Y
5.7%

UAL: Margin Execution And Operational Resets Will Shape Future Upside Potential

Analysts have nudged their fair value estimate for United Airlines Holdings up slightly from about US$124.36 to roughly US$125.26. They cite a modestly higher long term revenue outlook, a small adjustment to discount rates, and updated assumptions for profit margins and future P/E multiples following recent price target increases across several research firms.