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U.S. Industrials Sector Analysis

UpdatedMar 31, 2026
DataAggregated Company Financials
Companies1038
  • 7D-4.2%
  • 3M0.2%
  • 1Y23.3%
  • YTD-1.0%

Over the last 7 days, the Industrials industry has dropped 4.2%, and General Electric contributed the most with a 6.3% decline. Over the past 12 months, the industry was up 23%. 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, 31 Mar 2026US$6.8tUS$2.9tUS$214.7b23.1x31.6x2.4x
Thu, 26 Feb 2026US$7.5tUS$2.8tUS$207.1b26.9x36.2x2.6x
Sat, 24 Jan 2026US$6.9tUS$2.8tUS$209.5b25.9x33x2.5x
Mon, 22 Dec 2025US$6.4tUS$2.7tUS$210.3b24.6x30.6x2.3x
Wed, 19 Nov 2025US$6.2tUS$2.7tUS$210.6b23.2x29.3x2.3x
Fri, 17 Oct 2025US$6.4tUS$2.7tUS$210.1b25.3x30.4x2.4x
Sun, 14 Sep 2025US$6.2tUS$2.7tUS$208.3b24.9x29.9x2.3x
Tue, 12 Aug 2025US$6.2tUS$2.7tUS$209.1b23.9x29.4x2.3x
Thu, 10 Jul 2025US$6.1tUS$2.7tUS$205.3b24.4x29.5x2.3x
Sat, 07 Jun 2025US$5.8tUS$2.7tUS$205.2b22.7x28.3x2.2x
Mon, 05 May 2025US$5.4tUS$2.7tUS$204.8b21.3x26.6x2x
Wed, 02 Apr 2025US$5.3tUS$2.7tUS$203.8b21.2x26x2x
Fri, 28 Feb 2025US$5.5tUS$2.7tUS$206.9b22x26.7x2.1x
Sun, 26 Jan 2025US$5.9tUS$2.7tUS$197.0b24.6x30x2.2x
Tue, 24 Dec 2024US$5.6tUS$2.7tUS$197.8b23.3x28.2x2.1x
Thu, 21 Nov 2024US$5.9tUS$2.7tUS$195.3b23.8x30.1x2.2x
Sat, 19 Oct 2024US$5.8tUS$2.7tUS$180.3b24.4x32.2x2.1x
Mon, 16 Sep 2024US$5.4tUS$2.7tUS$179.9b22.1x30.1x2x
Wed, 14 Aug 2024US$5.1tUS$2.7tUS$179.6b21.7x28.7x1.9x
Fri, 12 Jul 2024US$5.1tUS$2.7tUS$170.2b21.9x30.1x1.9x
Sun, 09 Jun 2024US$5.1tUS$2.7tUS$170.1b21.7x30.2x1.9x
Tue, 07 May 2024US$5.3tUS$2.7tUS$171.7b23x30.7x1.9x
Thu, 04 Apr 2024US$5.3tUS$2.7tUS$173.6b23.7x30.4x2x
Sat, 02 Mar 2024US$5.1tUS$2.7tUS$172.4b23.3x29.7x1.9x
Mon, 29 Jan 2024US$4.9tUS$2.7tUS$179.8b21.3x27.3x1.8x
Wed, 27 Dec 2023US$4.9tUS$2.7tUS$182.9b21.7x26.8x1.8x
Fri, 24 Nov 2023US$4.5tUS$2.7tUS$182.2b19.5x24.9x1.7x
Sun, 22 Oct 2023US$4.3tUS$2.7tUS$192.8b17.4x22.2x1.6x
Tue, 19 Sep 2023US$4.5tUS$2.7tUS$189.4b18.1x23.8x1.7x
Thu, 17 Aug 2023US$4.6tUS$2.7tUS$188.0b18.6x24.4x1.7x
Sat, 15 Jul 2023US$4.6tUS$2.7tUS$186.6b18.3x24.9x1.7x
Mon, 12 Jun 2023US$4.4tUS$2.7tUS$182.8b18.4x24x1.6x
Wed, 10 May 2023US$4.2tUS$2.7tUS$184.9b17.3x22.9x1.6x
Fri, 07 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-3.50%
Industrials-4.18%
Industrials-0.70%
Marine and Shipping-1.30%
Transportation-1.68%
Commercial Services-1.76%
Trade Distributors-1.79%
Logistics-3.07%
Professional Services-3.22%
Machinery-4.03%
Infrastructure-4.56%
Building-4.58%
Aerospace & Defense-5.39%
Construction-5.60%
Electrical-6.69%
Airlines-7.04%
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
RSG Republic ServicesUS$221.682.3%
+US$1.6b		-8.5%PE32x
CSX CSXUS$39.772.1%
+US$1.5b		35.1%PE25.6x
CAR Avis Budget GroupUS$135.5626.4%
+US$997.1m		78.6%PS0.4x
WM Waste ManagementUS$229.961.1%
+US$980.1m		-0.7%PE34.3x
FAST FastenalUS$45.121.5%
+US$769.4m		16.4%PE41.2x

Latest News

UBER
US$69.91
Uber Technologies
7D
-6.9%
1Y
-4.0%
GE
US$273.25
General Electric
7D
-6.3%
1Y
36.5%

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.
CAR
US$135.56
Avis Budget Group
7D
26.4%
1Y
78.6%
AGX
US$513.98
Argan
7D
11.0%
1Y
291.8%

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?
RTX
US$187.15
RTX
7D
-3.9%
1Y
41.3%

RTX: Defense Programs And Engine Upgrades Will Support Stronger Long Term Demand

RTX's analyst fair value was nudged to $217.21 from $217.16 as analysts factor in slightly higher long term revenue growth assumptions and ongoing price target increases across the Street, including recent moves up to $227 and $240. Analyst Commentary Street research on RTX has been active, with a cluster of price target changes and one new bullish initiation contributing to a modest adjustment in fair value.
WM
US$229.96
Waste Management
7D
1.1%
1Y
-0.7%
RSG
US$221.68
Republic Services
7D
2.3%
1Y
-8.5%

RSG: Share Repurchases And Renewable Gas Projects Will Support Future Upside

Analysts have nudged their price target on Republic Services up by $1, reflecting slightly higher modeled profit margins and a marginally lower discount rate, while revenue growth and future P/E assumptions remain relatively unchanged. What's in the News Between October 1, 2025 and December 31, 2025, Republic Services repurchased 1,253,563 shares, about 0.4% of its shares, for US$270.23 million under its existing buyback program (Key Developments).
UNP
US$239.23
Union Pacific
7D
0.4%
1Y
1.3%
VRT
US$234.22
Vertiv Holdings Co
7D
-8.5%
1Y
224.4%
BA
US$189.21
Boeing
7D
-4.6%
1Y
10.9%
CSX
US$39.77
CSX
7D
2.1%
1Y
35.1%
FAST
US$45.12
Fastenal
7D
1.5%
1Y
16.4%

FAST: Modest February Sales Strength Will Still Drive Further Multiple Compression

Analysts have nudged Street price targets on Fastenal modestly higher, with moves such as Baird's lift to $52 and Barclays' to $44. These changes reflect updated models that factor in recent data points like stronger than expected February average daily sales.
GEV
US$817.35
GE Vernova
7D
-7.4%
1Y
167.7%

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).
CAT
US$667.43
Caterpillar
7D
-4.9%
1Y
102.4%

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.
AXON
US$415.07
Axon Enterprise
7D
-18.2%
1Y
-21.1%

AXON: Sector Multiple Compression Will Confront Recurring Revenue And AI Opportunity

Axon Enterprise's updated analyst price target has been reduced by $0, with analysts citing sector wide multiple compression and current sentiment, even as they highlight solid Q4 results, stronger long term targets, recurring revenue growth and potential AI advantages in their rationale. Analyst Commentary Recent Street research around Axon reflects a mix of confidence in the business model and caution around valuation and sector sentiment.
ODFL
US$189.75
Old Dominion Freight Line
7D
1.1%
1Y
14.7%

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.