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U.S. Industrials Sector Analysis

UpdatedJan 08, 2026
DataAggregated Company Financials
Companies1076
  • 7D3.2%
  • 3M3.4%
  • 1Y19.5%
  • YTD1.2%

In the last week, the Industrials industry is up 3.2%, with General Electric up 5.1%. In the same time, Johnson Controls International was down 6.1%. This means that the industry has gained 19% over the past year. 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
Thu, 08 Jan 2026US$6.7tUS$2.7tUS$210.3b24.7x32x2.5x
Sat, 06 Dec 2025US$6.4tUS$2.7tUS$209.6b24.7x30.7x2.3x
Mon, 03 Nov 2025US$6.5tUS$2.7tUS$211.0b24.9x30.7x2.4x
Wed, 01 Oct 2025US$6.3tUS$2.7tUS$208.6b25.1x30.3x2.3x
Fri, 29 Aug 2025US$6.3tUS$2.7tUS$209.0b25.2x30x2.3x
Sun, 27 Jul 2025US$6.3tUS$2.7tUS$205.8b24.4x30.7x2.3x
Tue, 24 Jun 2025US$5.8tUS$2.7tUS$205.1b22.7x28.4x2.2x
Thu, 22 May 2025US$5.8tUS$2.7tUS$206.5b22.5x28.2x2.2x
Sat, 19 Apr 2025US$5.1tUS$2.7tUS$203.0b19.8x25x1.9x
Mon, 17 Mar 2025US$5.3tUS$2.7tUS$203.4b21.2x26.2x2x
Wed, 12 Feb 2025US$5.8tUS$2.7tUS$207.6b24x27.9x2.2x
Fri, 10 Jan 2025US$5.6tUS$2.7tUS$197.6b23.7x28.3x2.1x
Sun, 08 Dec 2024US$5.9tUS$2.7tUS$198.3b24.9x30x2.2x
Tue, 05 Nov 2024US$5.6tUS$2.7tUS$193.8b23.3x29x2.1x
Thu, 03 Oct 2024US$5.7tUS$2.7tUS$179.9b23.1x31.4x2.1x
Sat, 31 Aug 2024US$5.4tUS$2.7tUS$179.7b22.6x30.1x2x
Mon, 29 Jul 2024US$5.3tUS$2.7tUS$181.5b22.5x29.4x2x
Wed, 26 Jun 2024US$5.2tUS$2.7tUS$170.5b21.2x30.5x1.9x
Fri, 24 May 2024US$5.3tUS$2.7tUS$171.6b22.1x30.9x2x
Sun, 21 Apr 2024US$5.1tUS$2.7tUS$173.6b22.5x29.3x1.9x
Tue, 19 Mar 2024US$5.2tUS$2.7tUS$172.5b22.7x30.1x2x
Thu, 15 Feb 2024US$4.9tUS$2.7tUS$173.8b22.5x28.3x1.9x
Sat, 13 Jan 2024US$4.9tUS$2.7tUS$184.2b20.8x26.4x1.8x
Mon, 11 Dec 2023US$4.7tUS$2.7tUS$182.9b20.3x25.5x1.7x
Wed, 08 Nov 2023US$4.4tUS$2.7tUS$180.4b17.7x24.2x1.6x
Fri, 06 Oct 2023US$4.3tUS$2.7tUS$192.2b17.6x22.4x1.6x
Sun, 03 Sep 2023US$4.7tUS$2.7tUS$189.3b19.4x24.7x1.7x
Tue, 01 Aug 2023US$4.7tUS$2.7tUS$181.5b18.7x26x1.7x
Thu, 29 Jun 2023US$4.5tUS$2.7tUS$184.3b18x24.6x1.7x
Sat, 27 May 2023US$4.2tUS$2.7tUS$183.2b16.9x22.9x1.6x
Mon, 24 Apr 2023US$4.3tUS$2.7tUS$167.8b18.2x25.5x1.6x
Wed, 22 Mar 2023US$4.1tUS$2.5tUS$158.8b18.5x25.7x1.6x
Fri, 17 Feb 2023US$4.2tUS$2.5tUS$160.7b19.4x26x1.6x
Sun, 15 Jan 2023US$4.1tUS$2.5tUS$154.8b18.5x26.7x1.6x
Price to Earnings Ratio

26.7x


Total Market Cap: US$4.1tTotal Earnings: US$154.8bTotal 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 32.0x which is higher than its 3-year average PE of 27.8x.
  • The 3-year average PS ratio of 1.9x 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 11% per year over the last three years.
  • Revenues for these companies have grown 2.8% 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 Market1.52%
Industrials3.24%
Marine and Shipping6.02%
Logistics5.59%
Construction5.54%
Aerospace & Defense5.21%
Airlines4.73%
Electrical4.46%
Machinery3.68%
Trade Distributors3.47%
Professional Services2.17%
Infrastructure2.14%
Industrials1.87%
Transportation1.45%
Commercial Services-0.72%
Building-1.65%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 60.5x.
    • Analysts are expecting annual earnings growth of 22.0%, 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 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
GE General ElectricUS$323.645.1%
+US$16.5b		87.2%PE42.4x
CAT CaterpillarUS$596.524.1%
+US$11.1b		65.2%PE30.1x
UBER Uber TechnologiesUS$86.195.5%
+US$9.3b		32.8%PE10.8x
BA BoeingUS$228.125.1%
+US$8.4b		32.8%PS2.1x
RKLB Rocket LabUS$84.0820.5%
+US$7.6b		207.3%PS81x

Latest News

CPRT
US$38.19
Copart
7D
-2.5%
1Y
-32.7%

Copart, Inc.'s (NASDAQ:CPRT) Business Is Trailing The Market But Its Shares Aren't

Jan 08
Copart, Inc.'s (NASDAQ:CPRT) Business Is Trailing The Market But Its Shares Aren't
GE
US$323.64
General Electric
7D
5.1%
1Y
87.2%
CAT
US$596.52
Caterpillar
7D
4.1%
1Y
65.2%

CAT: Power Demand And Backlog Strength Will Drive Future Earnings Repricing

The analyst price target for Caterpillar has been raised from US$507 to US$780, with analysts citing stronger profit expectations, a higher assumed future P/E multiple, and recent Street research that highlights solid Q3 results, improving backlogs, and growing confidence around Energy & Transportation and Power Gen demand. Analyst Commentary Recent Street research on Caterpillar points to a wide range of views, but there is a clear pocket of bullish analysts who are leaning into the Q3 print, backlog trends, and perceived strength in Energy & Transportation, Power Gen, and Construction.
NSC
US$284.09
Norfolk Southern
7D
-1.6%
1Y
19.9%

NSC: Merger Review And Labor Deal Will Shape Fairly Valued Outlook

Analysts have nudged their price target for Norfolk Southern higher to approximately US$309 from about US$308, reflecting small updates to discount rate, revenue growth, profit margin and future P/E assumptions in their models. What's in the News The US Department of Justice has begun investigating Union Pacific's proposed acquisition of Norfolk Southern and is expected to file a formal notice to participate in the Surface Transportation Board review of the deal (CTFN).
BA
US$228.12
Boeing
7D
5.1%
1Y
32.8%

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).
RKLB
US$84.08
Rocket Lab
7D
20.5%
1Y
207.3%

RKLB: Extended Neutron Spending Will Constrain Future Cash Generation Despite Strong Launch Activity

Narrative Update: Rocket Lab Analyst View The updated analyst price target for Rocket Lab moves to about $68.75 from about $65.67. This reflects a blend of higher Street targets tied to consolidation potential in the space sector, robust Electron launch demand, and ongoing contributions from the Space Systems business, partially balanced by program spending tied to the revised Neutron launch schedule.
CSX
US$35.05
CSX
7D
-3.3%
1Y
8.9%

CSX: New Leadership And ONECSX Execution Will Shape Rail Network Future

Analysts have nudged the CSX price target higher to around US$41 to US$42 from about US$39 to US$40, citing a recent Q3 beat, one-off restructuring charges, and continued progress on the ONECSX and operational improvement initiatives as key supports for this shift. Analyst Commentary Recent research updates show a cluster of price target revisions for CSX toward the low US$40s after the Q3 report, with analysts pointing to the earnings outcome, one off restructuring charges, and ongoing ONECSX initiatives as key drivers of their views.
JCI
US$112.41
Johnson Controls International
7D
-6.1%
1Y
40.4%

Johnson Controls International (NYSE:JCI) Seems To Use Debt Quite Sensibly

Jan 03
Johnson Controls International (NYSE:JCI) Seems To Use Debt Quite Sensibly
BE
US$108.00
Bloom Energy
7D
24.3%
1Y
343.0%
UBER
US$86.19
Uber Technologies
7D
5.5%
1Y
32.8%
UNP
US$224.48
Union Pacific
7D
-3.0%
1Y
-3.2%
UPS
US$105.41
United Parcel Service
7D
6.3%
1Y
-16.8%

UPS: Cost Efficiencies And Yield Improvements Will Support Earnings Recovery Ahead

Analysts nudged their average price target for United Parcel Service modestly higher to about $119, reflecting confidence that solid Q3 execution, ongoing cost takeouts, and improved domestic yield performance can support resilient margins and a cyclical earnings trough in 2025. Analyst Commentary Bullish analysts framed the Q3 beat and reinstated guidance as an important inflection point, arguing that the combination of structural cost reductions and better pricing power is starting to flow more visibly into earnings.
EMR
US$142.15
Emerson Electric
7D
7.1%
1Y
18.2%

EMR: Long-Term Margin Expansion Will Support Bullish Upside From Current Levels

Analysts modestly reduced their price target on Emerson Electric to $150 from $151. The change reflects updated models that incorporate slightly lower long term revenue growth assumptions, a higher discount rate, and a modestly higher future earnings multiple.
WCN
US$168.53
Waste Connections
7D
-3.9%
1Y
-4.2%

WCN: Future Returns Will Be Driven By Accretive M&A And Aggressive Buybacks

The analyst price target for Waste Connections has inched higher to approximately $205 from about $205 previously, as analysts highlight the company’s consistent outperformance, margin expansion potential, and long runway for value accretive M&A, despite near term sector headwinds. Analyst Commentary Bullish analysts generally frame Waste Connections as a high quality compounder, emphasizing its history of value accretive acquisitions and a long runway to continue consolidating fragmented secondary and rural markets.
WM
US$215.97
Waste Management
7D
-1.7%
1Y
4.5%
TT
US$376.43
Trane Technologies
7D
-3.3%
1Y
-2.5%

TT: AI Building And Data Center Solutions Will Drive Future Margin Upside

Analysts slightly raised their price target on Trane Technologies by approximately 0.1 percent to about $482 per share, citing modest improvements in long term profit margin expectations and a marginally higher forward earnings multiple, despite largely unchanged growth and discount rate assumptions. What's in the News Trane Technologies completed the acquisition of BrainBox AI, expanding its AI driven building decarbonization and energy optimization capabilities after more than two years of prior collaboration.