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U.S. Industrials Sector Analysis

UpdatedMar 14, 2026
DataAggregated Company Financials
Companies1052
  • 7D-2.9%
  • 3M4.5%
  • 1Y27.9%
  • YTD3.5%

Over the last 7 days, the Industrials industry has dropped 2.9%, driven by General Electric declining 7.2%. Meanwhile, Vertiv Holdings Co actually outperformed within the industry, gaining 7.1% in the last week. Over the past 12 months, the industry was up 28%. As for the next few years, earnings are expected to grow by 16% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 14 Mar 2026US$7.0tUS$2.9tUS$212.1b23.9x33.1x2.5x
Mon, 09 Feb 2026US$7.4tUS$2.9tUS$208.6b26.8x35.4x2.6x
Wed, 07 Jan 2026US$6.6tUS$2.7tUS$210.2b25.2x31.6x2.4x
Fri, 05 Dec 2025US$6.4tUS$2.7tUS$210.0b24.7x30.4x2.3x
Sun, 02 Nov 2025US$6.5tUS$2.7tUS$211.0b24.9x30.7x2.4x
Tue, 30 Sep 2025US$6.3tUS$2.7tUS$208.6b24.8x30.1x2.3x
Thu, 28 Aug 2025US$6.3tUS$2.7tUS$209.0b25.3x30x2.3x
Sat, 26 Jul 2025US$6.2tUS$2.7tUS$205.6b24.5x30.4x2.3x
Mon, 23 Jun 2025US$5.8tUS$2.7tUS$205.1b22.3x28.2x2.1x
Wed, 21 May 2025US$5.8tUS$2.7tUS$206.5b23x28.3x2.2x
Fri, 18 Apr 2025US$5.1tUS$2.7tUS$203.0b19.8x24.9x1.9x
Sun, 16 Mar 2025US$5.3tUS$2.7tUS$203.4b21.2x26.2x2x
Tue, 11 Feb 2025US$5.7tUS$2.7tUS$208.1b24.3x27.6x2.1x
Thu, 09 Jan 2025US$5.6tUS$2.7tUS$197.6b23.7x28.2x2x
Sat, 07 Dec 2024US$6.0tUS$2.7tUS$198.3b24.9x30x2.2x
Mon, 04 Nov 2024US$5.6tUS$2.7tUS$193.7b23.2x29.1x2.1x
Wed, 02 Oct 2024US$5.7tUS$2.7tUS$179.9b23.1x31.4x2.1x
Fri, 30 Aug 2024US$5.4tUS$2.7tUS$179.7b22.3x29.9x2x
Sun, 28 Jul 2024US$5.3tUS$2.7tUS$181.5b22.5x29.4x2x
Tue, 25 Jun 2024US$5.2tUS$2.7tUS$171.3b21.4x30.2x1.9x
Thu, 23 May 2024US$5.3tUS$2.7tUS$171.5b22.9x30.9x2x
Sat, 20 Apr 2024US$5.1tUS$2.7tUS$173.6b22x29.4x1.9x
Mon, 18 Mar 2024US$5.2tUS$2.7tUS$172.4b22.8x30x2x
Wed, 14 Feb 2024US$4.9tUS$2.7tUS$173.3b22.3x28.4x1.9x
Fri, 12 Jan 2024US$4.9tUS$2.7tUS$182.9b20.7x26.6x1.8x
Sun, 10 Dec 2023US$4.7tUS$2.7tUS$182.9b20.2x25.5x1.7x
Tue, 07 Nov 2023US$4.4tUS$2.7tUS$180.4b17.9x24.3x1.6x
Thu, 05 Oct 2023US$4.4tUS$2.7tUS$192.2b17.7x22.7x1.6x
Sat, 02 Sep 2023US$4.7tUS$2.7tUS$189.3b19.4x24.7x1.7x
Mon, 31 Jul 2023US$4.7tUS$2.7tUS$181.5b18.4x25.9x1.7x
Wed, 28 Jun 2023US$4.5tUS$2.7tUS$184.5b18x24.5x1.7x
Fri, 26 May 2023US$4.2tUS$2.7tUS$183.2b16.9x22.7x1.6x
Sun, 23 Apr 2023US$4.3tUS$2.7tUS$167.9b18.2x25.5x1.6x
Tue, 21 Mar 2023US$4.0tUS$2.5tUS$159.2b18.4x25.2x1.6x
Price to Earnings Ratio

25.2x


Total Market Cap: US$4.0tTotal Earnings: US$159.2bTotal Revenue: US$2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 28.3x202420252026
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 33.1x which is higher than its 3-year average PE of 28.3x.
  • 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 10% per year over the last three years.
  • Revenues for these companies have grown 4.0% 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-1.64%
Industrials-2.94%
Electrical2.19%
Construction1.30%
Industrials-1.22%
Machinery-1.92%
Building-2.58%
Logistics-3.22%
Infrastructure-3.64%
Commercial Services-3.97%
Airlines-4.07%
Transportation-4.19%
Trade Distributors-4.36%
Marine and Shipping-4.61%
Aerospace & Defense-5.13%
Professional Services-6.97%
Industry PE
  • Investors are most optimistic about the Electrical industry even though it's trading below its 3-year average PE ratio of 63.1x.
    • Analysts are expecting annual earnings growth of 19.6%, which is higher than its past year's earnings growth of 16.7% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 16.1x.
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 4.0% 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
VRT Vertiv Holdings CoUS$258.887.1%
+US$6.5b		196.0%PE74.3x
CAT CaterpillarUS$693.991.9%
+US$6.1b		104.3%PE36.3x
BE Bloom EnergyUS$154.5114.3%
+US$5.4b		531.4%PS21.4x
GEV GE VernovaUS$805.022.0%
+US$4.3b		156.7%PE44.4x
FIX Comfort Systems USAUS$1.37k6.7%
+US$3.0b		300.2%PE46.9x

Latest News

AXON
US$496.18
Axon Enterprise
7D
-13.6%
1Y
-10.8%
GE
US$299.69
General Electric
7D
-7.2%
1Y
52.0%
ETN
US$355.40
Eaton
7D
2.2%
1Y
21.0%
VRT
US$258.88
Vertiv Holdings Co
7D
7.1%
1Y
196.0%
ADP
US$208.52
Automatic Data Processing
7D
-7.8%
1Y
-28.5%

ADP: Dividend Strength And AI HR Execution Will Support Premium P/E

Analysts have trimmed their average price target on Automatic Data Processing by about $5 to $272. This reflects slightly softer revenue growth assumptions, a modestly higher discount rate, and only a small adjustment to long term P/E expectations, despite relatively steady margin forecasts.
RTX
US$204.52
RTX
7D
-2.5%
1Y
57.3%

RTX: Fair Value View Balances Aerospace Demand With Defense Policy Uncertainty

Our RTX fair value estimate edges up by about $0.24 to $217.16 as analysts broadly lift price targets, highlighting product upgrades such as the PW1100G Section Plus option and updated sector views as key supports. Analyst Commentary Recent Street research on RTX is clustered around higher price targets and refreshed views on the commercial aerospace and defense group, with most commentary framing current levels in the context of product execution and sector positioning rather than short term trading calls.
UNP
US$242.44
Union Pacific
7D
-4.6%
1Y
2.1%

UNP: Merger Synergies And Rail Infrastructure Resilience Will Shape Forward Outlook

The updated analyst price target for Union Pacific edges higher, with our fair value estimate moving from $266.08 to $272.21 as analysts factor in potential cost synergies from the proposed Norfolk Southern merger, sustained operating performance across the rail group, and the appeal of hard to replicate rail infrastructure. Analyst Commentary Recent Street research on Union Pacific clusters around two big themes: the proposed Norfolk Southern merger and the value the market places on irreplaceable rail infrastructure.
LMT
US$646.00
Lockheed Martin
7D
-3.8%
1Y
38.6%

LMT: Sector Funding Momentum And Policy Support Will Sustain Long-Term Cash Generation

Analysts have lifted their fair value estimate for Lockheed Martin to $740 from $605, reflecting updated assumptions for slightly lower discount rates, higher revenue growth, firmer profit margins, and a higher future P/E multiple that are broadly in line with the recent wave of price target increases across the Street. Analyst Commentary The recent round of Street research on Lockheed Martin has leaned firmly constructive, with a series of upward price target revisions that align with the higher internal fair value estimate.
BE
US$154.51
Bloom Energy
7D
14.3%
1Y
531.4%

Bloom Energy Corp (BE): The AI "Bridge-to-Power" – Scaling to 2GW Capacity for the Next-Gen Data Center.

Bloom Energy has transitioned from a clean-energy alternative into a critical infrastructure provider for the AI revolution. Trading at $135.19 as of the March 6, 2026, close, the stock has experienced a sharp 15.5% "digestion" pullback from its recent highs above $180, despite fundamentally strong momentum.
BA
US$209.89
Boeing
7D
-9.2%
1Y
29.7%
GEV
US$805.02
GE Vernova
7D
2.0%
1Y
156.7%

GEV: Long Term Equipment Contracts Will Support Stronger Future Returns

Analysts have lifted their price target on GE Vernova to $1,019, reflecting slightly updated assumptions on discount rate, revenue growth, profit margin, and future P/E that support a steady valuation framework. What's in the News OPC Energy agreed to purchase main equipment from GE Vernova for the Hadera 2 natural gas power project in Israel, covering gas and steam turbines, auxiliary systems, and a maintenance agreement.
CAT
US$693.99
Caterpillar
7D
1.9%
1Y
104.3%
FIX
US$1,365.34
Comfort Systems USA
7D
6.7%
1Y
300.2%

FIX: Texas Data Center Exposure And Modular Strength Will Support Future P/E Repricing

Analysts have raised their price target on Comfort Systems USA to $1,800 from $1,200, citing the company's exposure to Texas data center construction, its modular capabilities, and support from recent earnings as key drivers behind the reassessment. Analyst Commentary Bullish analysts are clustering around higher valuation ranges for Comfort Systems USA, pointing to recent earnings, data center exposure in Texas, and the company’s modular capabilities as the core reasons for revisiting their models.
NXT
US$119.64
Nextpower
7D
18.0%
1Y
170.0%
PWR
US$559.02
Quanta Services
7D
3.5%
1Y
114.3%

PWR: Power Supercycle And Record Backlog Will Drive Future Infrastructure Wins

Our updated fair value estimate for Quanta Services rises from $548 to $685, reflecting analysts' higher price targets following strong Q4 results, record backlog, and expectations for sustained earnings growth across key power infrastructure markets. Analyst Commentary Recent research updates show a wave of higher valuation work on Quanta Services following Q4 results, with several bullish analysts lifting price targets and, in some cases, ratings, as they factor in the latest guidance, record backlog, and earnings trajectory.
HWM
US$236.75
Howmet Aerospace
7D
-5.3%
1Y
87.1%

HWM: Aerospace And Gas Turbine Demand Will Support Sustained Future Earnings Power

Analysts have raised their average price target for Howmet Aerospace to $315 from about $286, citing stronger margin expectations, slightly revised growth assumptions, and a higher forward P/E multiple supported by recent earnings results and broad price target increases across Wall Street. Analyst Commentary Bullish analysts are largely supportive of the higher average price target, pointing to recent earnings, margin performance, and end market demand as key pillars behind their updated views on Howmet Aerospace.