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U.S. Industrials Sector Analysis

UpdatedApr 01, 2026
DataAggregated Company Financials
Companies1039
  • 7D-1.4%
  • 3M4.4%
  • 1Y25.3%
  • YTD2.2%

The Industrials industry is down 4.2% over the last week with General Electric the worst performer, down 6.3%. In the past year, the industry has gained 23%. 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
Wed, 01 Apr 2026US$6.7tUS$2.9tUS$215.6b24x31x2.3x
Fri, 27 Feb 2026US$7.5tUS$2.9tUS$208.4b26.8x35.8x2.6x
Sun, 25 Jan 2026US$6.8tUS$2.8tUS$209.5b25.9x32.7x2.5x
Tue, 23 Dec 2025US$6.4tUS$2.7tUS$210.3b24.8x30.6x2.3x
Thu, 20 Nov 2025US$6.1tUS$2.7tUS$210.5b23.4x29.2x2.2x
Sat, 18 Oct 2025US$6.3tUS$2.7tUS$209.8b25x30.2x2.3x
Mon, 15 Sep 2025US$6.2tUS$2.7tUS$208.3b24.9x29.9x2.3x
Wed, 13 Aug 2025US$6.2tUS$2.7tUS$209.7b24.5x29.3x2.3x
Fri, 11 Jul 2025US$6.1tUS$2.7tUS$205.4b24.3x29.7x2.3x
Sun, 08 Jun 2025US$5.9tUS$2.7tUS$205.2b22.7x28.5x2.2x
Tue, 06 May 2025US$5.5tUS$2.7tUS$203.5b21.3x26.8x2x
Thu, 03 Apr 2025US$5.3tUS$2.7tUS$203.0b21.2x26.3x2x
Sat, 01 Mar 2025US$5.5tUS$2.7tUS$204.1b21.8x26.9x2x
Mon, 27 Jan 2025US$5.9tUS$2.7tUS$197.0b24.6x30x2.2x
Wed, 25 Dec 2024US$5.6tUS$2.7tUS$197.8b23.5x28.4x2.1x
Fri, 22 Nov 2024US$5.9tUS$2.7tUS$198.6b24x29.6x2.2x
Sun, 20 Oct 2024US$5.8tUS$2.7tUS$180.3b24.4x32.3x2.1x
Tue, 17 Sep 2024US$5.4tUS$2.7tUS$180.0b22.4x30.1x2x
Thu, 15 Aug 2024US$5.2tUS$2.7tUS$179.7b21.6x29x1.9x
Sat, 13 Jul 2024US$5.2tUS$2.7tUS$169.7b22.4x30.7x1.9x
Mon, 10 Jun 2024US$5.1tUS$2.7tUS$170.1b21.7x30.1x1.9x
Wed, 08 May 2024US$5.3tUS$2.7tUS$171.6b22.9x30.7x1.9x
Fri, 05 Apr 2024US$5.3tUS$2.7tUS$173.6b23.6x30.4x2x
Sun, 03 Mar 2024US$5.1tUS$2.7tUS$172.5b23.2x29.8x1.9x
Tue, 30 Jan 2024US$4.9tUS$2.7tUS$179.8b21.5x27.3x1.8x
Thu, 28 Dec 2023US$5.0tUS$2.7tUS$183.1b21.6x27.1x1.8x
Sat, 25 Nov 2023US$4.6tUS$2.7tUS$182.2b19.5x25.1x1.7x
Mon, 23 Oct 2023US$4.3tUS$2.7tUS$192.8b17.4x22.2x1.6x
Wed, 20 Sep 2023US$4.5tUS$2.7tUS$189.4b18x23.7x1.7x
Fri, 18 Aug 2023US$4.6tUS$2.7tUS$188.1b18.5x24.4x1.7x
Sun, 16 Jul 2023US$4.6tUS$2.7tUS$186.6b18.3x24.9x1.7x
Tue, 13 Jun 2023US$4.4tUS$2.7tUS$182.8b18.3x24.2x1.7x
Thu, 11 May 2023US$4.2tUS$2.7tUS$184.1b17.3x23x1.6x
Sat, 08 Apr 2023US$4.2tUS$2.6tUS$166.2b18x25x1.6x
Price to Earnings Ratio

25x


Total Market Cap: US$4.2tTotal Earnings: US$166.2bTotal 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 31.6x 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 2.4x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 8.9% per year over the last three years.
  • Revenues for these companies have grown 2.7% 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-0.61%
Industrials-1.44%
Transportation1.81%
Industrials0.79%
Commercial Services0.0059%
Trade Distributors-0.062%
Logistics-0.51%
Infrastructure-0.57%
Professional Services-0.66%
Marine and Shipping-1.54%
Machinery-1.65%
Aerospace & Defense-1.73%
Airlines-2.17%
Building-2.64%
Construction-3.11%
Electrical-4.19%
Industry PE
  • Investors are most optimistic about the Electrical industry even though it's trading below its 3-year average PE ratio of 63.4x.
    • Analysts expect its future annual earnings growth (19.5%) 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 decline by 2.9% 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
HON Honeywell InternationalUS$226.032.0%
+US$2.8b		5.9%PE32.5x
CSX CSXUS$41.053.7%
+US$2.8b		38.0%PE26.4x
ODFL Old Dominion Freight LineUS$195.405.6%
+US$2.2b		16.9%PE39.8x
BA BoeingUS$199.031.3%
+US$2.1b		18.4%PE82.8x
WM Waste ManagementUS$229.792.2%
+US$2.0b		-1.7%PE34.2x

Latest News

BA
US$199.03
Boeing
7D
1.3%
1Y
18.4%
PH
US$895.24
Parker-Hannifin
7D
-3.2%
1Y
46.8%
CSX
US$41.05
CSX
7D
3.7%
1Y
38.0%
GE
US$283.77
General Electric
7D
-2.4%
1Y
39.2%

GE: The "Post-Split" Propulsion Supercycle and the $1 Billion Manufacturing Surge

GE Aerospace (GE) has officially completed its multi-year transformation, emerging in 2026 as a pure-play aviation titan focused on the "Golden Age" of jet propulsion. As of the market close on March 27, 2026, the stock is trading at $282.81 USD on the NYSE, reflecting a period of healthy consolidation after reaching an all-time high of $348.48 in February.
AGX
US$544.65
Argan
7D
22.4%
1Y
305.2%

Electrification And Aging Power Infrastructure Will Support Long Term Earnings Strength

Catalysts About Argan Argan provides engineering, procurement and construction services for large, complex power generation, industrial and data infrastructure projects across its Power, Industrial and Teledata segments. What are the underlying business or industry changes driving this perspective?
HON
US$226.03
Honeywell International
7D
2.0%
1Y
5.9%
WM
US$229.79
Waste Management
7D
2.2%
1Y
-1.7%
UNP
US$242.62
Union Pacific
7D
1.2%
1Y
2.3%
VRT
US$250.58
Vertiv Holdings Co
7D
-7.5%
1Y
232.9%
ETN
US$357.67
Eaton
7D
-4.4%
1Y
29.3%

ETN: AI Data Center And Thermal Demand Will Drive Future Upside

Analysts have nudged Eaton's fair value estimate higher, with the updated price target moving from $483.16 to $491.40 as they factor in the Boyd Thermal acquisition, changes to P/E assumptions, and a refreshed view on revenue growth and profitability. Analyst Commentary Recent research updates show a mix of views on Eaton, with some firms trimming price targets and others lifting them or upgrading ratings following the Boyd Thermal acquisition and model refreshes.
DE
US$563.30
Deere
7D
-3.4%
1Y
17.7%
GEV
US$872.90
GE Vernova
7D
-4.0%
1Y
176.5%

GEV: Index Inclusion And Energy Contracts Will Support Balanced Long Term Returns

Analysts have raised their price target for GE Vernova to $861.62 from $819.92, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E, which together indicate a higher estimated fair value for the business. What's in the News GE Vernova is being added to the S&P 100 index, bringing the stock into a major benchmark followed by large institutional investors (Index Constituent Adds).
PWR
US$549.02
Quanta Services
7D
-5.1%
1Y
112.9%
CAT
US$708.46
Caterpillar
7D
-1.1%
1Y
114.3%

CAT: Data Center Power Dependence Will Likely Restrain Future Return Potential

Caterpillar's updated analyst price target reflects a modest fair value lift of about $1 per share. Analysts point to stronger construction demand signals from ConExpo, lengthening engine lead times tied to data center projects, and growing confidence in the company as a physical AI and infrastructure supplier.
ODFL
US$195.40
Old Dominion Freight Line
7D
5.6%
1Y
16.9%

ODFL: Tighter Capacity And HALO Network Will Shape Freight Recovery Outlook

Old Dominion Freight Line's analyst fair value estimate shifts to $199.25 from $167.79 as analysts adjust price targets across the transports group, citing slightly higher modeled revenue growth, a modestly stronger profit margin profile, and a higher assumed future P/E multiple. Analyst Commentary Recent Street research around Old Dominion Freight Line reflects a mix of optimism on the long term freight cycle and caution on near term earnings power and valuation.
FERG
US$233.26
Ferguson Enterprises
7D
3.2%
1Y
45.1%

FERG: Large Project Exposure And Capital Returns Will Drive Medium Term Upside

Analysts have lifted their average price targets on Ferguson into a roughly $252 to $300 range, citing Q4 results, medium term growth and margin targets, and the company's positioning in non residential and large project markets as key supports for the updated outlook. Analyst Commentary Recent research points to a broadly constructive stance on Ferguson, with price targets clustered in the low to high $200s and a few reaching $300, as analysts refresh models following the latest Q4 report and management's medium term framework.