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U.S. Industrials Sector Analysis

UpdatedDec 19, 2025
DataAggregated Company Financials
Companies1045
  • 7D-2.9%
  • 3M0.5%
  • 1Y16.0%
  • YTD16.3%

Over the last 7 days, the Industrials industry has dropped 2.9%, driven by Caterpillar declining 5.4%. Over the past 12 months, the industry was up 16%. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 20 Dec 2025US$6.3tUS$2.7tUS$210.1b24.3x30.1x2.3x
Mon, 17 Nov 2025US$6.3tUS$2.7tUS$210.7b23.9x29.7x2.3x
Wed, 15 Oct 2025US$6.3tUS$2.7tUS$210.1b25.1x30.1x2.3x
Fri, 12 Sep 2025US$6.2tUS$2.7tUS$208.2b24.8x29.7x2.3x
Sun, 10 Aug 2025US$6.2tUS$2.7tUS$209.1b24.1x29.4x2.3x
Tue, 08 Jul 2025US$6.1tUS$2.7tUS$205.2b23.9x29.7x2.3x
Thu, 05 Jun 2025US$5.8tUS$2.7tUS$205.2b22.5x28.3x2.2x
Sat, 03 May 2025US$5.3tUS$2.7tUS$205.0b21.4x26.1x2x
Mon, 31 Mar 2025US$5.3tUS$2.7tUS$203.7b20.9x25.9x2x
Wed, 26 Feb 2025US$5.5tUS$2.7tUS$208.8b22.2x26.5x2.1x
Fri, 24 Jan 2025US$5.9tUS$2.7tUS$197.2b24.6x30x2.2x
Sun, 22 Dec 2024US$5.6tUS$2.7tUS$197.8b23.4x28.2x2.1x
Tue, 19 Nov 2024US$5.9tUS$2.7tUS$195.0b23.6x30x2.1x
Thu, 17 Oct 2024US$5.8tUS$2.7tUS$180.3b24.4x32.2x2.1x
Sat, 14 Sep 2024US$5.4tUS$2.7tUS$179.8b22.1x29.9x2x
Mon, 12 Aug 2024US$5.2tUS$2.7tUS$179.6b21.4x28.8x1.9x
Wed, 10 Jul 2024US$5.1tUS$2.7tUS$170.3b21x30x1.9x
Fri, 07 Jun 2024US$5.2tUS$2.7tUS$170.1b21.8x30.5x1.9x
Sun, 05 May 2024US$5.2tUS$2.7tUS$171.8b22.6x30.3x1.9x
Tue, 02 Apr 2024US$5.4tUS$2.7tUS$173.6b23.8x30.9x2x
Thu, 29 Feb 2024US$5.1tUS$2.7tUS$174.1b23.2x29.3x1.9x
Sat, 27 Jan 2024US$4.9tUS$2.7tUS$179.8b21.2x27.3x1.8x
Mon, 25 Dec 2023US$4.9tUS$2.7tUS$183.0b21.6x26.8x1.8x
Wed, 22 Nov 2023US$4.5tUS$2.7tUS$182.2b19.3x24.9x1.7x
Fri, 20 Oct 2023US$4.3tUS$2.7tUS$193.3b17.4x22.3x1.6x
Sun, 17 Sep 2023US$4.5tUS$2.7tUS$189.4b18.1x23.8x1.7x
Tue, 15 Aug 2023US$4.7tUS$2.7tUS$189.2b19x24.7x1.7x
Thu, 13 Jul 2023US$4.7tUS$2.7tUS$185.5b18.3x25.1x1.7x
Sat, 10 Jun 2023US$4.4tUS$2.7tUS$182.8b18.4x24x1.6x
Mon, 08 May 2023US$4.2tUS$2.7tUS$185.6b17.5x22.9x1.6x
Wed, 05 Apr 2023US$4.2tUS$2.6tUS$165.4b18.4x25.4x1.6x
Fri, 03 Mar 2023US$4.2tUS$2.6tUS$162.2b18.9x25.6x1.6x
Sun, 29 Jan 2023US$4.1tUS$2.5tUS$161.7b18.6x25.4x1.6x
Tue, 27 Dec 2022US$4.0tUS$2.5tUS$153.4b17.5x25.9x1.6x
Price to Earnings Ratio

25.9x


Total Market Cap: US$4.0tTotal Earnings: US$153.4bTotal Revenue: US$2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 27.7x202320242025
Current Industry PE
  • Investors are relatively neutral on the American Industrials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 27.7x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.3x.
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 2.9% 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 Market-2.05%
Industrials-2.93%
Commercial Services1.07%
Logistics0.61%
Industrials-0.045%
Airlines-0.51%
Marine and Shipping-0.89%
Professional Services-0.92%
Trade Distributors-1.54%
Aerospace & Defense-1.92%
Building-2.76%
Transportation-3.08%
Infrastructure-3.59%
Machinery-3.98%
Construction-7.62%
Electrical-8.02%
Industry PE
  • Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 59.4x.
    • Analysts are expecting annual earnings growth of 23.4%, which is higher than its past year's earnings growth of 15.5% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 15.6x.
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$307.212.5%
+US$7.8b		82.5%PE40.2x
BA BoeingUS$214.084.7%
+US$7.4b		20.7%PS2x
RKLB Rocket LabUS$70.5314.7%
+US$4.8b		183.6%PS67.9x
RTX RTXUS$182.011.9%
+US$4.5b		56.3%PE37x
HON Honeywell InternationalUS$199.112.8%
+US$3.5b		-12.8%PE20.6x

Latest News

UNP
US$234.23
Union Pacific
7D
-2.4%
1Y
3.5%
RTX
US$182.01
RTX
7D
1.9%
1Y
56.3%

RTX: Missile Demand And Cybersecurity Risks Will Shape A Balanced Forward Outlook

Analysts have nudged their price target on RTX slightly higher to approximately $194.65, reflecting modestly stronger expectations for long term revenue growth and valuation multiples that more than offset a small revision to projected profit margins. What’s in the News The Pentagon is pressing major U.S. missile makers, including RTX, to double or even quadruple production.
UAL
US$113.99
United Airlines Holdings
7D
6.7%
1Y
17.0%

UAL: Premium Demand And Margin Expansion Will Drive Upside Despite Flight Disruptions

The blended analyst price target for United Airlines Holdings has been raised from approximately $123 to $124 per share, as analysts factor in stronger anticipated revenue growth, slightly higher long term margins, and a modestly richer future earnings multiple. Analyst Commentary Bullish analysts have broadly increased their price targets on United Airlines, signaling rising confidence in the company’s ability to execute on its growth and margin expansion plans over the next two years.
BA
US$214.08
Boeing
7D
4.7%
1Y
20.7%

BA: Defense And Widebody Backlog Expansion Will Drive Future Upside

Analysts have slightly lowered their price target on Boeing by approximately $1 to around $244 per share, citing modest tweaks to long term growth, discount rate, and profitability assumptions, while still expecting solid margin improvement and a lower future earnings multiple. What's in the News Boeing received FAA approval to lift its 737 MAX monthly production cap from 38 to 42 jets, a key step in restoring output and financial stability after the 2024 MAX 9 mid air emergency and subsequent safety probe (Regulatory Authority, FAA).
UBER
US$79.31
Uber Technologies
7D
-6.8%
1Y
30.6%

UBER: Autonomous Expansion Will Sustain Platform Engagement And Profit Momentum

Analysts have modestly raised their fair value estimate for Uber Technologies by about $1 per share to roughly $112, citing a strong Q3 print, accelerating delivery growth versus peers, and confidence that robust engagement and profit expansion can continue even as margin gains normalize and long term autonomous vehicle economics become a greater focus. Analyst Commentary Analysts remain broadly constructive on Uber following the Q3 update, pointing to solid execution across mobility and delivery, resilient user engagement, and a strengthening narrative around long term autonomous vehicle positioning, even as expectations for near term AV profit contribution are tempered.
ETN
US$317.80
Eaton
7D
-4.3%
1Y
-6.0%

ETN: AI Data Center Demand And Boyd Deal Will Shape Outlook

We raise our Eaton price target by approximately $36 to about $337 per share, reflecting analysts' increased confidence in stronger long term revenue growth, modestly higher profitability, and sustained AI driven data center demand supported by recent price target hikes and upgrades. Analyst Commentary Recent Street research reflects a constructive yet increasingly nuanced view on Eaton, with higher price targets and ratings upgrades framed against growing scrutiny of valuation, execution risks, and the durability of AI driven demand.
GEV
US$658.28
GE Vernova
7D
-2.0%
1Y
92.1%

GEV: Dividend Hike And Buybacks Will Drive Stronger Shareholder Returns

Analysts have raised their price target for GE Vernova from approximately $760.00 to about $927.34 per share, reflecting increased confidence in the company’s accelerating revenue growth, improving profit margins, and slightly higher justified valuation multiples. What's in the News Reaffirmed 2025 revenue guidance of $36 billion to $37 billion and introduced 2026 guidance of $41 billion to $42 billion, underscoring confidence in multi year growth visibility (Corporate guidance).
CAT
US$576.22
Caterpillar
7D
-3.6%
1Y
57.4%
JCI
US$119.53
Johnson Controls International
7D
4.2%
1Y
48.2%
RKLB
US$70.53
Rocket Lab
7D
14.7%
1Y
183.6%

Rocket Lab's Path to Success is Wider and Closer Than Before - Much Like Its Neutron Rocket

Since my original post, RKLB has continued to expand its space systems business, including through acquisitions and raising more capital. Its Neutron rocket is still largely on schedule; and as expected, no major new players have arrived to take RKLBs #2 spot in space launch.
HON
US$199.11
Honeywell International
7D
2.8%
1Y
-12.8%
AXON
US$594.20
Axon Enterprise
7D
5.3%
1Y
-5.9%
ADP
US$257.94
Automatic Data Processing
7D
-3.1%
1Y
-12.3%

ADP: Dividend Strength Will Support Returns Despite Cyclical Employment Headwinds

The analyst price target for Automatic Data Processing has been trimmed slightly as fair value moves from approximately $293.23 to $291.31 per share. Analysts cite a tougher path for sustaining premium valuation multiples amid slowing employment trends, cyclical concerns in payroll outsourcing, and evolving macro and interest rate expectations despite solid recent operating performance.
MMM
US$161.96
3M
7D
-4.1%
1Y
25.3%

MMM: Turnaround Progress Will Face Ongoing PFAS Litigation And Portfolio Reshaping Risks

Our fair value estimate for 3M has been trimmed slightly to $174.25 from $174.94 as analysts balance higher price targets and improving expectations for new product driven growth and management's turnaround progress against persistent PFAS litigation risk. Analyst Commentary Street research remains divided on 3M, with recent notes highlighting improving execution and product driven growth, offset by continued concern around PFAS liabilities and mixed end market demand.
DE
US$470.57
Deere
7D
-2.9%
1Y
8.8%

DE: Precision Ag Subscriptions Will Drive Future Earnings Recovery Despite Cyclical Headwinds

Analysts have modestly raised their price target on Deere to approximately $540 from about $535, reflecting increased confidence in the long term earnings power from its expanding Precision Ag subscription base and data enabled ecosystem, even as they acknowledge a near term cyclical downturn and a mixed demand backdrop. Analyst Commentary Recent Street research on Deere reflects a generally constructive stance on the shares, with analysts emphasizing the company’s growing Precision Ag subscription base, data driven offerings, and potential earnings recovery as key drivers of long term value, even as they flag near term cyclical and inventory related risks.
GE
US$307.21
General Electric
7D
2.5%
1Y
82.5%

GE: Rising Defense Demand Will Drive Stronger Aerospace Profits Ahead

Analysts have modestly raised their price target on General Electric, citing slightly stronger expected revenue growth and profit margins that nudge fair value to approximately 339.69 dollars from 339 dollars previously. What's in the News The Pentagon is pushing missile makers, including GE Aerospace, to double or even quadruple production amid concerns over a potential future conflict with China.