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U.S. Industrials Sector Analysis

UpdatedJul 10, 2026
DataAggregated Company Financials
Companies1066
  • 7D-1.7%
  • 3M3.8%
  • 1Y19.9%
  • YTD12.5%

Over the last 7 days, the Industrials industry has dropped 1.7%, driven by General Electric declining 4.9%. In contrast, Vertiv Holdings Co has gained 7.8%. In the past year, the industry has gained 20%. 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
Fri, 10 Jul 2026US$7.7tUS$2.9tUS$219.9b26x34.9x2.6x
Sun, 07 Jun 2026US$7.6tUS$2.9tUS$219.4b26.4x34.5x2.6x
Tue, 05 May 2026US$7.5tUS$2.9tUS$222.1b25.4x33.8x2.6x
Thu, 02 Apr 2026US$6.9tUS$2.8tUS$215.6b24x32x2.4x
Sat, 28 Feb 2026US$7.5tUS$2.8tUS$210.9b26.2x35.6x2.6x
Mon, 26 Jan 2026US$6.8tUS$2.8tUS$209.5b25.9x32.7x2.5x
Wed, 24 Dec 2025US$6.5tUS$2.7tUS$210.3b24.8x31x2.4x
Fri, 21 Nov 2025US$6.2tUS$2.7tUS$210.7b23.1x29.3x2.3x
Sun, 19 Oct 2025US$6.3tUS$2.7tUS$209.8b25x30.2x2.3x
Tue, 16 Sep 2025US$6.2tUS$2.7tUS$208.3b24.9x29.9x2.3x
Thu, 14 Aug 2025US$6.2tUS$2.7tUS$209.8b24.9x29.7x2.3x
Sat, 12 Jul 2025US$6.1tUS$2.7tUS$205.4b24.3x29.7x2.3x
Mon, 09 Jun 2025US$5.9tUS$2.7tUS$205.2b22.7x28.5x2.2x
Wed, 07 May 2025US$5.4tUS$2.7tUS$203.5b21x26.7x2x
Fri, 04 Apr 2025US$5.4tUS$2.7tUS$203.3b20.1x26.6x2x
Sun, 02 Mar 2025US$5.6tUS$2.7tUS$204.1b21.8x27.3x2.1x
Tue, 28 Jan 2025US$5.9tUS$2.7tUS$197.1b24x30.1x2.2x
Thu, 26 Dec 2024US$5.6tUS$2.7tUS$197.9b23.6x28.4x2.1x
Sat, 23 Nov 2024US$6.0tUS$2.7tUS$197.3b24.5x30.2x2.2x
Mon, 21 Oct 2024US$5.8tUS$2.7tUS$180.3b24.4x32.3x2.1x
Wed, 18 Sep 2024US$5.5tUS$2.7tUS$180.0b22.6x30.3x2x
Fri, 16 Aug 2024US$5.2tUS$2.7tUS$179.8b21.9x29.1x1.9x
Sun, 14 Jul 2024US$5.3tUS$2.7tUS$169.7b22.4x31x2x
Tue, 11 Jun 2024US$5.2tUS$2.7tUS$170.1b21.7x30.4x1.9x
Thu, 09 May 2024US$5.3tUS$2.7tUS$171.4b23x30.8x1.9x
Sat, 06 Apr 2024US$5.2tUS$2.7tUS$173.6b23.6x30.1x2x
Mon, 04 Mar 2024US$5.1tUS$2.7tUS$172.2b23.4x29.9x1.9x
Wed, 31 Jan 2024US$5.0tUS$2.7tUS$178.4b21.6x27.8x1.8x
Fri, 29 Dec 2023US$5.0tUS$2.7tUS$183.1b21.6x27x1.8x
Sun, 26 Nov 2023US$4.6tUS$2.7tUS$182.2b19.5x25.1x1.7x
Tue, 24 Oct 2023US$4.3tUS$2.7tUS$192.8b17.2x22x1.6x
Thu, 21 Sep 2023US$4.5tUS$2.7tUS$189.4b18.2x23.6x1.6x
Sat, 19 Aug 2023US$4.5tUS$2.7tUS$187.8b18.5x24.2x1.7x
Mon, 17 Jul 2023US$4.6tUS$2.7tUS$186.5b18.3x24.9x1.7x
Price to Earnings Ratio

24.9x


Total Market Cap: US$4.6tTotal Earnings: US$186.5bTotal Revenue: US$2.7tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 29.3x202420252026
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 34.9x which is higher than its 3-year average PE of 29.3x.
  • 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 5.7% per year over the last three years.
  • Revenues for these companies have grown 2.9% 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 Market0.59%
Industrials-1.73%
Marine and Shipping3.16%
Transportation0.79%
Logistics0.26%
Construction-0.31%
Commercial Services-0.36%
Electrical-0.80%
Trade Distributors-1.17%
Professional Services-1.22%
Infrastructure-1.66%
Machinery-2.06%
Building-2.78%
Industrials-2.80%
Airlines-3.40%
Aerospace & Defense-3.66%
Industry PE
  • Investors are most optimistic about the Construction industry which is trading above its 3-year average PE ratio of 38.3x.
    • Analysts are expecting annual earnings growth of 25.0%, which is lower than the prior year's growth of 33.2% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 16.9x.
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 33% 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
VRT Vertiv Holdings CoUS$323.927.8%
+US$9.0b		168.3%PE79.8x
ETN EatonUS$405.831.8%
+US$2.8b		13.5%PE39.5x
PCAR PACCARUS$123.283.2%
+US$2.0b		24.2%PE26.2x
ODFL Old Dominion Freight LineUS$225.853.8%
+US$1.7b		32.0%PE46.6x
UNP Union PacificUS$285.041.0%
+US$1.7b		20.3%PE23.5x

Latest News

UNP
US$285.04
Union Pacific
7D
1.0%
1Y
20.3%
Seeking Alpha • 4h

Union Pacific: Buying Now Feels Too Late (Rating Downgrade)

Summary Union Pacific Corporation is rated hold, reflecting limited near-term upside despite strong historical returns and positive EPS revisions. UNP's proposed $85B merger with Norfolk Southern could create significant value, but regulatory hurdles and industry consolidation concerns remain. Recent operational results show modest revenue growth, robust margin drop-through, and continued dividend increases, but buybacks have paused ahead of the merger. Grain segment strength offsets weakness in automotive, but a 69-year low in wheat production and challenging market trends temper the outlook through 2027. Read the full article on Seeking Alpha
RTX
US$195.20
RTX
7D
-2.0%
1Y
33.3%
ETN
US$405.83
Eaton
7D
1.8%
1Y
13.5%
HWM
US$273.77
Howmet Aerospace
7D
1.2%
1Y
53.3%
LMT
US$518.26
Lockheed Martin
7D
-5.1%
1Y
11.6%
Seeking Alpha • Jul 09

Lockheed Martin: The Proposed 2027 Defense Budget Makes The Bull Case Hard To Ignore

Summary Lockheed Martin (LMT) is trading 24% below its 52-week high despite robust demand signals and $186.4 billion in backlog. The proposed $1.5 trillion 2027 U.S. defense budget, with a 28% base increase, strongly favors LMT’s core programs and munitions ramp. LMT’s 7-year, inflation-indexed munitions contracts de-risk growth, while the company advances toward Dividend Aristocrat status with a 2.57% yield and 23 years of increases. LMT trades at 17.6x 2026 and 15.4x 2028 earnings, below peers, with upside if defense budgets materialize, but faces execution and budget-approval risks. Read the full article on Seeking Alpha
CAT
US$938.39
Caterpillar
7D
-2.6%
1Y
129.8%
GE
US$359.04
General Electric
7D
-4.9%
1Y
42.2%
GEV
US$1,075.26
GE Vernova
7D
-3.4%
1Y
99.4%
Narrative Update • Jul 08

GEV: AI Power Supercycle And Index Flows Will Sustain Overvaluation Risk

Analysts have lifted their price target for GE Vernova to $956.55 from $917.15, citing updated assumptions for slightly lower discount rates, modestly higher revenue growth, and a marginal adjustment to future P/E and profit margin expectations. What's in the News Chevron and Microsoft agreed a 20 year natural gas power deal for Project Kilby in Texas, with GE Vernova and Caterpillar supplying gas turbines for a 2.67 gigawatt dedicated power plant that is designed to support AI focused data centers.
PCAR
US$123.28
PACCAR
7D
3.2%
1Y
24.2%
Narrative Update • Jul 08

PCAR: Secular Truck Demand And Easing Taxes Will Support Higher Margins

The analyst price target for PACCAR has been revised from $150 to $140, as analysts adjust their views on fair value and future P/E while citing a mixed set of recent price target changes across the Street. Analyst Commentary Recent research on PACCAR reflects a mixed but increasingly constructive tone, with several bullish analysts lifting price targets as they update models ahead of upcoming earnings events and sector reviews.
FIX
US$1,781.42
Comfort Systems USA
7D
2.3%
1Y
233.7%
RKLB
US$82.55
Rocket Lab
7D
-17.8%
1Y
111.1%
Narrative Update • Jul 07

RKLB: Iridium Deal Execution Risk Will Test Vertically Integrated Space Platform Narrative

Rocket Lab's updated analyst price target has moved higher from about $47 to roughly $64, as analysts highlight the planned Iridium acquisition as a key driver for a more vertically integrated space services platform and for refined launch pricing expectations. Analyst Commentary Street research around Rocket Lab has been intensely focused on the proposed Iridium acquisition, with many analysts framing it as a key step toward a more complete space services platform that couples launch, spacecraft manufacturing, and communications services under one roof.
CMI
US$673.39
Cummins
7D
1.8%
1Y
98.0%
Seeking Alpha • Jul 06

Cummins: The Downcycle Is Ending, And The Upside Is Building

Summary Cummins (CMI) is well-positioned for Q2 upside as North America on-highway markets exit their cyclical downturn, supporting a continued Buy rating. Q2 earnings are set up for a material beat, with modeled EPS of $8.28 versus Street at $7.24, driven by accelerating Engine and Components growth. CMI's 2030 roadmap targets $45–$50B revenue and 20% EBITDA margin, implying 8% annual top-line growth and 50bps yearly margin expansion. I see 28% upside to a $850 price target, expecting CMI to re-rate to a high-20s P/E as earnings compound and cyclical recovery strengthens. Read the full article on Seeking Alpha
VRT
US$323.92
Vertiv Holdings Co
7D
7.8%
1Y
168.3%
ODFL
US$225.85
Old Dominion Freight Line
7D
3.8%
1Y
32.0%
Narrative Update • Jul 02

ODFL: Tightening Freight Capacity Will Support Future Earnings Resilience

Old Dominion Freight Line's analyst fair value target has been raised from $245.00 to $260.00. This reflects analysts' updated assumptions for slightly stronger revenue growth, higher profit margins, and a modestly lower discount rate following a series of Street price target increases across the less than truckload group.
HONA
US$223.12
Honeywell Aerospace
7D
-9.7%
1Y
n/a
DE
US$592.90
Deere
7D
-4.6%
1Y
14.2%
Narrative Update • Jul 01

DE: Tariff Relief And AI Efficiency Gains Will Support Future Upside

Analysts have trimmed their fair value estimate for Deere to $759 from $793 as they factor in more moderate revenue growth assumptions, even as Street research highlights potential tariff relief and a mixed pattern of price target revisions across the sector. Analyst Commentary Street research on Deere is mixed, but there is a clear camp of bullish analysts highlighting tariff relief, execution on recent quarters, and the potential for a more constructive backdrop in North American agriculture and construction equipment over the next several years.