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U.S. Industrials Sector Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies1051
  • 7D-4.5%
  • 3M10.7%
  • 1Y31.7%
  • YTD7.4%

Over the last 7 days, the Industrials industry has dropped 4.6%, driven by declines in General Electric and Caterpillar of 6.9% and 6.3%, respectively. This takes the industry's 12 month performance to a gain of 29%. Looking forward, 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
Tue, 10 Mar 2026US$7.2tUS$2.9tUS$213.0b25.3x33.7x2.5x
Thu, 05 Feb 2026US$7.2tUS$2.8tUS$207.8b26.2x34.7x2.5x
Sat, 03 Jan 2026US$6.4tUS$2.7tUS$210.3b24.4x30.4x2.3x
Mon, 01 Dec 2025US$6.4tUS$2.7tUS$209.8b24.4x30.4x2.3x
Wed, 29 Oct 2025US$6.5tUS$2.7tUS$210.4b26.1x30.8x2.4x
Fri, 26 Sep 2025US$6.3tUS$2.7tUS$208.5b24.2x30.1x2.3x
Sun, 24 Aug 2025US$6.3tUS$2.7tUS$209.0b24.8x30x2.3x
Tue, 22 Jul 2025US$6.2tUS$2.7tUS$206.1b23.8x29.9x2.3x
Thu, 19 Jun 2025US$5.8tUS$2.7tUS$205.1b22.5x28.2x2.1x
Sat, 17 May 2025US$5.8tUS$2.7tUS$205.8b23.1x28x2.1x
Mon, 14 Apr 2025US$5.1tUS$2.7tUS$203.5b19.9x25x1.9x
Wed, 12 Mar 2025US$5.4tUS$2.7tUS$203.0b21.1x26.4x2x
Fri, 07 Feb 2025US$5.7tUS$2.7tUS$208.2b24.3x27.6x2.1x
Sun, 05 Jan 2025US$5.6tUS$2.7tUS$197.7b23.8x28.3x2.1x
Tue, 03 Dec 2024US$6.1tUS$2.7tUS$197.2b25.1x30.8x2.2x
Thu, 31 Oct 2024US$5.7tUS$2.7tUS$189.7b23.4x30x2.1x
Sat, 28 Sep 2024US$5.6tUS$2.7tUS$179.6b23x31.3x2.1x
Mon, 26 Aug 2024US$5.4tUS$2.7tUS$179.6b22.6x30x2x
Wed, 24 Jul 2024US$5.4tUS$2.7tUS$169.9b22.9x31.5x2x
Fri, 21 Jun 2024US$5.2tUS$2.7tUS$170.5b21.2x30.4x1.9x
Sun, 19 May 2024US$5.3tUS$2.7tUS$171.4b22.7x31x2x
Tue, 16 Apr 2024US$5.2tUS$2.7tUS$173.8b22.5x30x1.9x
Thu, 14 Mar 2024US$5.2tUS$2.7tUS$172.0b23x30.2x2x
Sat, 10 Feb 2024US$5.0tUS$2.7tUS$173.3b22.5x28.7x1.9x
Mon, 08 Jan 2024US$4.8tUS$2.7tUS$182.9b20.8x26.3x1.8x
Wed, 06 Dec 2023US$4.7tUS$2.7tUS$182.5b19.7x25.8x1.7x
Fri, 03 Nov 2023US$4.3tUS$2.7tUS$180.6b17.3x23.5x1.6x
Sun, 01 Oct 2023US$4.4tUS$2.7tUS$192.2b17.9x22.9x1.6x
Tue, 29 Aug 2023US$4.6tUS$2.7tUS$189.4b18.7x24.1x1.7x
Thu, 27 Jul 2023US$4.7tUS$2.7tUS$183.3b18.4x25.6x1.7x
Sat, 24 Jun 2023US$4.4tUS$2.7tUS$184.5b17.6x24x1.7x
Mon, 22 May 2023US$4.3tUS$2.7tUS$183.9b17x23.1x1.6x
Wed, 19 Apr 2023US$4.3tUS$2.6tUS$166.9b18.2x25.7x1.6x
Fri, 17 Mar 2023US$4.0tUS$2.6tUS$159.2b17.9x24.9x1.5x
Price to Earnings Ratio

24.9x


Total Market Cap: US$4.0tTotal Earnings: US$159.2bTotal 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 33.7x 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 2.5x.
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 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 Market-1.50%
Industrials-4.53%
Professional Services0.94%
Commercial Services-0.76%
Aerospace & Defense-3.23%
Trade Distributors-3.91%
Construction-4.15%
Transportation-4.85%
Industrials-4.95%
Electrical-5.50%
Machinery-6.17%
Marine and Shipping-6.78%
Airlines-7.83%
Logistics-8.18%
Building-8.62%
Infrastructure-8.63%
Industry PE
  • Investors are most optimistic about the Electrical industry even though it's trading below its 3-year average PE ratio of 63.0x.
    • Analysts are expecting annual earnings growth of 19.2%, 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 3.3% 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
ADP Automatic Data ProcessingUS$223.043.8%
+US$3.2b		-26.4%PE21.2x
VRT Vertiv Holdings CoUS$264.352.6%
+US$2.5b		238.8%PE75.9x
KRMN Karman HoldingsUS$106.0914.0%
+US$1.7b		273.3%PE1238.4x
PAYX PaychexUS$98.304.3%
+US$1.5b		-36.4%PE22.1x
WM Waste ManagementUS$246.511.4%
+US$1.4b		8.2%PE36.7x

Latest News

RBA
US$105.79
RB Global
7D
5.7%
1Y
6.3%
GEV
US$830.10
GE Vernova
7D
-5.8%
1Y
207.3%

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$704.82
Caterpillar
7D
-6.3%
1Y
104.2%
AMPX
US$17.72
Amprius Technologies
7D
52.9%
1Y
868.3%

AMPX: Drone Demand And Capacity Expansion Will Drive Bullish Repricing

Analysts have lifted their price target on Amprius Technologies by about $1.70 to $19.25, citing stronger than expected Q4 results, improving profitability, and growing demand for its silicon anode battery technology across drones, satellites, light EVs, robotics, and eVTOL markets. Analyst Commentary Recent research notes cluster firmly on the optimistic side, with several firms moving price targets higher after Amprius Technologies reported Q4 results that came in ahead of expectations and delivered record quarterly revenue, triple digit year over year growth, and positive EBITDA for the first time.
DE
US$599.48
Deere
7D
-5.0%
1Y
22.6%

DE: Construction Strength And Large Ag Recovery Will Support Future Earnings Momentum

We are nudging our fair value estimate for Deere up from $630 to about $666 per share, reflecting analysts' higher price targets following a strong Q1 beat, healthier Large Ag order trends, and better support from Construction and Small Ag/Turf, even as views differ on how much of the next cycle is already priced in. Analyst Commentary Street research after Deere's Q1 report reflects a mix of enthusiasm about execution and caution around how much optimism is already embedded in the share price.
WM
US$246.51
Waste Management
7D
1.4%
1Y
8.2%

WM: Dividend Hike And New Buyback Authorization Will Support Steady Outlook

Analysts have increased their price target for Waste Management by about $0.40, reflecting slightly adjusted assumptions for discount rate, revenue growth, profit margins and future P/E. Together, these changes point to a modestly refined view of the company’s long term value.
TT
US$427.52
Trane Technologies
7D
-8.3%
1Y
26.4%

TT: AI Efficiency, Data Center Demand And Dividends Will Support A Balanced Outlook

Analysts now set their price target for Trane Technologies at $394, up from about $389.79. This reflects updated views on slightly higher revenue growth expectations and a modest adjustment to margins and future P/E assumptions.
UPS
US$99.94
United Parcel Service
7D
-12.7%
1Y
-17.1%

UPS: Network Assets And 2026 Framework Will Shape Risk Reward Balance

Our updated UPS narrative reflects a slight trim in the fair value estimate to about $113 per share, as analysts weigh a mix of new price targets that range from BofA's cut to $112 on softer near term expectations to multiple upward revisions tied to UPS's physical network assets and its commentary on the 2026 outlook. Analyst Commentary Recent research on United Parcel Service shows a split tape, with some analysts trimming near term expectations while others are leaning into the long term value of the network and management's 2026 framework.
VRT
US$264.35
Vertiv Holdings Co
7D
2.6%
1Y
238.8%

Vertiv Holdings Co (VRT): The Liquid Cooling Standard-Bearer – Entering the S&P 500 on March 23.

Vertiv Holdings Co (VRT) has officially achieved the institutional "gold standard," with S&P Dow Jones Indices announcing after the March 6, 2026, close that the company will join the S&P 500 prior to the opening of trading on Monday, March 23. This promotion follows a historic transformation from an industrial spin-off to a secular AI powerhouse, as the stock trades at $241.72 with a market capitalization of $92.5 billion.
ETN
US$353.87
Eaton
7D
-6.2%
1Y
27.5%
AVAV
US$227.29
AeroVironment
7D
9.1%
1Y
84.3%

AeroVironment Inc. (AVAV): The Robotic Vanguard – Navigating the "BlueHalo" Integration in 2026.

AeroVironment (AVAV) is currently at a critical crossroads in the journey to dominate the autonomous defense sector, trading at $220.56 as of the March 6, 2026, close. The stock has been under significant pressure recently, dropping over 17% following news that the Pentagon has opened its "SCAR" phased array antenna program to competitive bidding—a move that directly impacts the high-growth BlueHalo segment.
PH
US$932.17
Parker-Hannifin
7D
-7.8%
1Y
53.7%

PH: Updated Guidance And Share Repurchases Will Support A Measured Outlook

Analysts have nudged their price target for Parker Hannifin higher to around $1,031 from about $1,018, reflecting updated assumptions that include a slightly lower discount rate, a more conservative revenue growth outlook, a higher profit margin, and a modestly higher future P/E multiple. What's in the News Parker-Hannifin updated its earnings guidance for the fiscal year ending June 30, 2026, with reported sales growth now framed in a range of 5.5% to 7.5% and organic sales growth around 5% at the midpoint, along with contributions from acquisitions, divestitures, and favorable currency effects (Key Developments).
ADP
US$223.04
Automatic Data Processing
7D
3.8%
1Y
-26.4%
GE
US$321.93
General Electric
7D
-6.9%
1Y
67.6%

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.
PAYX
US$98.30
Paychex
7D
4.3%
1Y
-36.4%

PAYX: AI And Buybacks Will Counter Defensive Competitive Pressures Over Time

Analysts have trimmed their Paychex price target slightly to about $119 per share, reflecting modest adjustments to fair value, discount rate, revenue growth, profit margin, and future P/E assumptions following new bearish coverage that characterizes recent competitive moves as largely defensive. Analyst Commentary Recent research frames the latest competitive response, including the Paycor related move, as more defensive than opportunistic.
KRMN
US$106.09
Karman Holdings
7D
14.0%
1Y
273.3%