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U.S. Industrials Sector Analysis

UpdatedApr 04, 2026
DataAggregated Company Financials
Companies1040
  • 7D3.0%
  • 3M3.7%
  • 1Y42.1%
  • YTD3.6%

In the last week, the Industrials industry is up 1.6%, with Boeing up 7.1%. In the last 12 months, the industry was up 34%. 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, 04 Apr 2026US$7.0tUS$2.8tUS$215.8b24.1x32.4x2.5x
Mon, 02 Mar 2026US$7.5tUS$2.8tUS$210.9b26.3x35.5x2.6x
Wed, 28 Jan 2026US$7.0tUS$2.9tUS$211.3b26x33.3x2.5x
Fri, 26 Dec 2025US$6.5tUS$2.7tUS$210.3b24.8x31.1x2.4x
Sun, 23 Nov 2025US$6.1tUS$2.7tUS$209.8b23.7x29.2x2.2x
Tue, 21 Oct 2025US$6.4tUS$2.7tUS$209.8b25.5x30.5x2.4x
Thu, 18 Sep 2025US$6.2tUS$2.7tUS$208.5b24.8x30x2.3x
Sat, 16 Aug 2025US$6.2tUS$2.7tUS$209.5b24.5x29.5x2.3x
Mon, 14 Jul 2025US$6.1tUS$2.7tUS$206.3b24.4x29.6x2.3x
Wed, 11 Jun 2025US$5.9tUS$2.7tUS$205.2b22.9x28.6x2.2x
Fri, 09 May 2025US$5.4tUS$2.7tUS$206.1b21.7x26.3x2x
Sun, 06 Apr 2025US$4.8tUS$2.7tUS$203.3b19.1x23.7x1.8x
Tue, 04 Mar 2025US$5.6tUS$2.7tUS$204.1b21.1x27.3x2.1x
Thu, 30 Jan 2025US$5.8tUS$2.7tUS$195.8b24.3x29.5x2.2x
Sat, 28 Dec 2024US$5.6tUS$2.7tUS$197.9b23.7x28.5x2.1x
Mon, 25 Nov 2024US$6.0tUS$2.7tUS$197.3b24.5x30.6x2.2x
Wed, 23 Oct 2024US$5.8tUS$2.7tUS$188.7b23.7x30.7x2.1x
Fri, 20 Sep 2024US$5.5tUS$2.7tUS$179.8b22.6x30.5x2x
Sun, 18 Aug 2024US$5.3tUS$2.7tUS$178.7b22x29.6x2x
Tue, 16 Jul 2024US$5.3tUS$2.7tUS$169.7b22.5x31x2x
Thu, 13 Jun 2024US$5.1tUS$2.7tUS$170.1b21.4x30.2x1.9x
Sat, 11 May 2024US$5.3tUS$2.7tUS$172.2b23.4x30.9x2x
Mon, 08 Apr 2024US$5.3tUS$2.7tUS$173.1b23.4x30.8x2x
Wed, 06 Mar 2024US$5.2tUS$2.7tUS$172.3b23.2x30x1.9x
Fri, 02 Feb 2024US$5.0tUS$2.7tUS$178.9b21.5x27.8x1.8x
Sun, 31 Dec 2023US$4.9tUS$2.7tUS$183.1b21.5x27x1.8x
Tue, 28 Nov 2023US$4.6tUS$2.7tUS$182.2b19.3x25.1x1.7x
Thu, 26 Oct 2023US$4.2tUS$2.7tUS$184.9b16.8x22.9x1.6x
Sat, 23 Sep 2023US$4.4tUS$2.7tUS$189.6b17.9x23.1x1.6x
Mon, 21 Aug 2023US$4.5tUS$2.7tUS$178.8b18.5x25.4x1.7x
Wed, 19 Jul 2023US$4.7tUS$2.7tUS$186.5b18.6x25.3x1.8x
Fri, 16 Jun 2023US$4.5tUS$2.7tUS$182.7b18.3x24.4x1.7x
Sun, 14 May 2023US$4.2tUS$2.7tUS$184.3b17.3x22.8x1.6x
Tue, 11 Apr 2023US$4.2tUS$2.6tUS$166.5b18.4x25.2x1.6x
Price to Earnings Ratio

25.2x


Total Market Cap: US$4.2tTotal Earnings: US$166.5bTotal Revenue: US$2.6tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Industrials Sector Price to Earnings3Y Average 28.4x202420252026
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 32.5x which is higher than its 3-year average PE of 28.4x.
  • 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 9.0% per year over the last three years.
  • Revenues for these companies have grown 2.3% 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 Market3.46%
Industrials2.97%
Infrastructure5.04%
Commercial Services4.34%
Logistics4.21%
Marine and Shipping4.07%
Transportation3.58%
Professional Services3.18%
Airlines3.15%
Electrical2.99%
Aerospace & Defense2.96%
Construction2.87%
Trade Distributors2.53%
Machinery2.47%
Industrials2.23%
Building2.02%
Industry PE
  • Investors are most optimistic about the Electrical industry, which is trading close to its 3-year average PE ratio of 63.4x.
    • Analysts expect its future annual earnings growth (19.4%) to be largely in line with prior year's earnings growth.
  • Investors are most pessimistic about the Marine and Shipping industry, which is trading below its 3-year average of 16.2x.
Forecasted Growth
  • Analysts are most optimistic on the Construction industry, expecting annual earnings growth of 23% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • 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
BA BoeingUS$208.229.3%
+US$13.9b		52.4%PE86.6x
GEV GE VernovaUS$898.575.3%
+US$12.2b		231.0%PE49.6x
CAT CaterpillarUS$717.223.1%
+US$10.2b		149.0%PE37.6x
RTX RTXUS$196.213.4%
+US$8.7b		67.1%PE39.2x
UBER Uber TechnologiesUS$71.843.8%
+US$5.4b		11.2%PE14.6x

Latest News

CAT
US$717.22
Caterpillar
7D
3.1%
1Y
149.0%

Caterpillar: The Hidden AI Infrastructure Play Wall Street Is Finally Pricing In And It's Not Too Late

Apr 04
TE
US$4.19
T1 Energy
7D
-27.3%
1Y
306.8%

TE: Future Returns Will Rely On Mo I Rana Power Expansion

Analysts have trimmed their price target on T1 Energy from $10.50 to $9.50, citing updated assumptions that combine a lower revenue growth outlook with a higher profit margin profile and a slightly reduced forward P/E multiple. What's in the News T1 Energy maintained its 2026 production and sales guidance, expecting 3.1 GW to 4.2 GW for the year, signaling no change to previously communicated volume expectations (corporate guidance).
IR
US$77.91
Ingersoll Rand
7D
-1.9%
1Y
11.8%

IR: Share Repurchases And Premium P/E Will Drive Attractive Future Returns

Analysts have lowered their price target for Ingersoll Rand by about $0.80 to reflect slightly updated inputs on fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News Ingersoll Rand issued earnings guidance for full year 2026, with expected revenue growth in a range of 2.5% to 4.5% (Key Developments).
GEV
US$898.57
GE Vernova
7D
5.3%
1Y
231.0%
AXON
US$412.81
Axon Enterprise
7D
-4.0%
1Y
-17.0%
BA
US$208.22
Boeing
7D
9.3%
1Y
52.4%

BA: Widebody Orders And Defense Will Support Future Upside Potential

Analysts now place Boeing's price target near $271, up from about $247. This reflects updated views on fair value, a slightly higher discount rate, modestly lower revenue growth assumptions, a small uplift in profit margin, and a higher future P/E.
WM
US$235.42
Waste Management
7D
4.6%
1Y
4.5%
FDX
US$361.63
FedEx
7D
5.1%
1Y
72.1%

FDX: Network 2.0 And Freight Spin Will Drive Future Earnings Power

FedEx's analyst price target has been revised higher, with the fair value estimate moving from about $385 to about $402, as analysts factor in slightly stronger revenue growth, a modestly higher profit margin outlook, and an updated future P/E assumption. Analyst Commentary Street research around FedEx has been active, with a cluster of recent price target changes and several rating moves.
HON
US$229.45
Honeywell International
7D
2.8%
1Y
20.1%

HON: Aerospace Spin Execution And Resegmentation Will Support Future Repricing Potential

Analysts have nudged Honeywell International's consensus price targets higher into a $245 to $293 range, citing updated earnings forecasts, refreshed sum of the parts valuations, and new detail around the planned Honeywell Aerospace spin in Q3. Analyst Commentary Recent Street research on Honeywell International clusters around higher valuation ranges and a more constructive view on execution, especially with the Honeywell Aerospace spinout planned for Q3.
KTOS
US$67.31
Kratos Defense & Security Solutions
7D
-6.4%
1Y
141.9%

KTOS: Hypersonic And Drone Program Wins Will Drive Future Upside Potential

Analysts have significantly raised Kratos Defense & Security Solutions' blended price target into a higher $100+ range, citing expectations for stronger revenue growth and profit margins supported by DRSS sales targets, demand for jet drones and hypersonic systems, and expanding roles in key U.S. defense programs. Analyst Commentary Street research on Kratos Defense & Security Solutions has become more concentrated in a higher price target range, with multiple firms lifting their targets after recent earnings and guidance updates.
RTX
US$196.21
RTX
7D
3.4%
1Y
67.1%
UBER
US$71.84
Uber Technologies
7D
3.8%
1Y
11.2%
GE
US$281.16
General Electric
7D
-0.6%
1Y
68.6%

GE: Engine Franchise And Long Cycle Services Will Support Future Returns

Analysts have inched their price expectations for General Electric higher, with the updated fair value estimate moving from $424.14 to $425.00 as they factor in refreshed views on earnings power, profit margins, and long term engine business fundamentals reflected in recent Street research on GE Aerospace. Analyst Commentary Recent Street research on GE Aerospace has leaned positive, with several bullish analysts updating price targets and ratings as they reassess the engine franchise, earnings power, and long term guidance framework.
NXT
US$113.08
Nextpower
7D
-5.8%
1Y
189.8%

NXT: Elevated P/E And Buybacks Will Continue To Outrun Fundamental Earnings Power

Analysts have raised their price target on Nextpower from $79.83 to $88.63, citing updated assumptions that include slightly adjusted discount rates, a change in revenue growth expectations to 7.55%, a profit margin assumption of 14.24%, and a forward P/E of about 28x. What's in the News Nextpower entered a multi year supply agreement with Jinko Solar (U.S.) Industries for more than 1 GW of U.S. manufactured steel module frames, scalable to up to 3 GW over three years.
FPS
US$28.87
Forgent Power Solutions
7D
-5.8%
1Y
n/a
SUNB
US$63.09
Sunbelt Rentals Holdings
7D
-3.3%
1Y
30.5%

Mega Projects And Specialty Segments Will Drive Long Term Upside Potential

Catalysts About Sunbelt Rentals Holdings Sunbelt Rentals Holdings provides equipment rental solutions across General Tool and Specialty categories to construction and nonconstruction customers in North America and the U.K. What are the underlying business or industry changes driving this perspective? Strong activity in data centers, health care, infrastructure, energy and manufacturing mega projects, combined with recent large project wins and related fleet investment, positions Sunbelt to support multi‑year project cycles that can support rental revenue and capital efficiency.