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U.S. Materials Sector Analysis

UpdatedApr 20, 2026
DataAggregated Company Financials
Companies445
  • 7D-0.2%
  • 3M5.4%
  • 1Y42.9%
  • YTD15.2%

Last week, the Materials industry hasn't moved much but Freeport-McMoRan is up 3.2% in that time. As for the the longer term, the industry is up 43% over the past 12 months. As for the next few years, earnings are expected to grow by 18% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 20 Apr 2026US$2.0tUS$840.7bUS$42.7b22.5x47.3x2.4x
Wed, 18 Mar 2026US$1.9tUS$845.7bUS$43.5b21.1x43.6x2.2x
Fri, 13 Feb 2026US$2.1tUS$851.4bUS$39.7b25.6x52.4x2.4x
Sun, 11 Jan 2026US$1.9tUS$853.2bUS$46.2b25.3x40.7x2.2x
Tue, 09 Dec 2025US$1.7tUS$852.8bUS$45.8b22.4x36.3x2x
Thu, 06 Nov 2025US$1.6tUS$847.4bUS$47.6b22.3x33.2x1.9x
Sat, 04 Oct 2025US$1.7tUS$835.9bUS$46.9b24.4x36.1x2x
Mon, 01 Sep 2025US$1.7tUS$837.9bUS$47.3b24.1x35.3x2x
Wed, 30 Jul 2025US$1.6tUS$835.2bUS$47.7b22.2x33.8x1.9x
Fri, 27 Jun 2025US$1.5tUS$837.4bUS$48.4b21.9x31.8x1.8x
Sun, 25 May 2025US$1.5tUS$852.9bUS$47.6b20.9x32x1.8x
Tue, 22 Apr 2025US$1.5tUS$864.8bUS$55.2b18.5x26.4x1.7x
Thu, 20 Mar 2025US$1.6tUS$869.3bUS$54.2b21.8x28.7x1.8x
Sat, 15 Feb 2025US$1.6tUS$870.1bUS$49.6b21.2x32.6x1.9x
Mon, 13 Jan 2025US$1.5tUS$872.0bUS$49.3b18.3x30.5x1.7x
Wed, 11 Dec 2024US$1.7tUS$876.2bUS$49.7b20.9x33.3x1.9x
Fri, 08 Nov 2024US$1.7tUS$876.0bUS$48.5b21.7x35.1x1.9x
Sun, 06 Oct 2024US$1.7tUS$868.6bUS$50.1b21.4x33.6x1.9x
Tue, 03 Sep 2024US$1.7tUS$870.5bUS$49.8b21.5x33.2x1.9x
Thu, 01 Aug 2024US$1.6tUS$866.1bUS$49.3b20x33.1x1.9x
Sat, 29 Jun 2024US$1.5tUS$873.5bUS$50.1b20.3x30.8x1.8x
Mon, 27 May 2024US$1.6tUS$871.5bUS$50.3b21.9x32x1.8x
Wed, 24 Apr 2024US$1.5tUS$879.0bUS$52.1b16.9x29.7x1.8x
Fri, 22 Mar 2024US$1.6tUS$880.3bUS$52.1b17.3x30.5x1.8x
Sun, 18 Feb 2024US$1.5tUS$875.1bUS$56.9b19x25.9x1.7x
Tue, 16 Jan 2024US$1.5tUS$905.9bUS$63.3b17.6x23.2x1.6x
Thu, 14 Dec 2023US$1.4tUS$906.0bUS$63.4b17.5x22.4x1.6x
Sat, 11 Nov 2023US$1.3tUS$908.3bUS$63.7b15.1x20.7x1.4x
Mon, 09 Oct 2023US$1.3tUS$894.2bUS$63.5b13.7x20.4x1.4x
Wed, 06 Sep 2023US$1.4tUS$889.7bUS$62.9b14.2x21.6x1.5x
Fri, 04 Aug 2023US$1.4tUS$899.7bUS$64.9b14.2x21.4x1.5x
Sun, 02 Jul 2023US$1.4tUS$936.0bUS$76.9b13.9x18x1.5x
Tue, 30 May 2023US$1.3tUS$934.6bUS$77.1b12.7x16.6x1.4x
Thu, 27 Apr 2023US$1.3tUS$947.1bUS$84.2b12.2x15.7x1.4x
Price to Earnings Ratio

15.7x


Total Market Cap: US$1.3tTotal Earnings: US$84.2bTotal Revenue: US$947.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Materials Sector Price to Earnings3Y Average 32.5x202420252026
Current Industry PE
  • Investors are optimistic on the American Materials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 47.3x which is higher than its 3-year average PE of 32.5x.
  • 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 Materials industry have declined 20% per year over the last three years,
  • Revenues have also declined 3.9% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the U.S. Materials sector?

US Market4.02%
Materials-0.17%
Paper and Forestry Products2.83%
Metals and Mining1.12%
Packaging0.94%
Basic Materials-0.85%
Chemicals-1.51%
Industry PE
  • Investors are most optimistic about the Chemicals industry which is trading above its 3-year average PE ratio of 46.2x.
    • Analysts are expecting annual earnings growth of 20.9%, which is higher than its past year's earnings decline of 2.5% per year.
  • Investors are most pessimistic about the Basic Materials industry, which is trading close to its 3-year average of 23.7x.
Forecasted Growth
  • Analysts are most optimistic on the Paper and Forestry Products industry, expecting annual earnings growth of 36% over the next 5 years.
  • This is better than its past earnings decline of 61% per year.
  • In contrast, the Basic Materials industry is expected to see its earnings grow by 11% 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
FCX Freeport-McMoRanUS$70.213.2%
+US$3.1b		113.1%PE45.9x
SHW Sherwin-WilliamsUS$345.553.3%
+US$2.7b		7.2%PE33.1x
ALB AlbemarleUS$197.756.6%
+US$1.5b		273.0%PS4.5x
NUE NucorUS$195.873.3%
+US$1.4b		83.6%PE25.7x
AEM Agnico Eagle MinesUS$220.101.3%
+US$1.4b		78.3%PE24.7x

Latest News

AEM
US$220.10
Agnico Eagle Mines
7D
1.3%
1Y
78.3%
PPG
US$114.85
PPG Industries
7D
4.2%
1Y
15.5%
SCCO
US$194.32
Southern Copper
7D
-1.0%
1Y
132.7%

SCCO: Stretched P/E And Expected 3% Production Decline Will Cap Upside

The updated analyst price target for Southern Copper edges higher, reflecting a slightly larger fair value estimate of $156.21, as analysts factor in revised assumptions for growth, profitability and future P/E while weighing a mix of recent target hikes and cuts across the Street. Analyst Commentary Recent Street research on Southern Copper shows a mix of optimism and caution, with several price target revisions in both directions and rating changes across major firms.
DOW
US$35.60
Dow
7D
-11.2%
1Y
26.6%

DOW: Tighter Polyethylene Supply Should Support Higher Future Earnings Multiple

Analysts have raised their average price target for Dow by incorporating higher assumed revenue growth, slightly wider profit margins, and updated P/E expectations, supported by a series of recent upgrades and target hikes tied to tighter global polyethylene supply and higher energy-driven cost curves. Analyst Commentary Recent Street research has tilted more constructive on Dow, with a cluster of upgrades and higher price targets anchored to tighter global polyethylene supply, higher energy price assumptions, and updated views on mid cycle earnings power.
MP
US$60.99
MP Materials
7D
7.4%
1Y
163.0%

MP: Texas Magnet Campus Will Support Margins While Shares Appear Fairly Priced

Analysts have updated their price target on MP Materials to $62 from $65, reflecting revised assumptions that include a different discount rate, adjusted revenue growth and profit margin expectations, and a lower future P/E outlook. What's in the News MP Materials selected a 120-acre site in Northlake, Texas, for its planned "10X" rare earth magnet manufacturing campus, located less than 10 miles from its existing Independence facility in Fort Worth (Key Developments).
AA
US$65.62
Alcoa
7D
-10.5%
1Y
181.6%
APD
US$291.81
Air Products and Chemicals
7D
-2.3%
1Y
13.3%
CF
US$112.68
CF Industries Holdings
7D
-7.4%
1Y
50.0%

CF Industries: Shares Are Higher For Longer

Apr 17
LYB
US$66.27
LyondellBasell Industries
7D
-12.2%
1Y
17.7%

LYB: Future Returns Will Balance Tight Polyethylene Supply And Dividend Reset Risks

The analyst price target for LyondellBasell Industries has been raised from about $51 to roughly $74, as analysts factor in improved revenue growth expectations, slightly higher profit margins, and a higher assumed future P/E multiple, supported by a wave of recent upgrades and target increases across major firms. Analyst Commentary Recent research on LyondellBasell Industries shows a clear shift in tone, with many firms moving ratings higher and lifting price targets across a wide range.
IFF
US$75.88
International Flavors & Fragrances
7D
5.8%
1Y
4.4%

IFF: Portfolio Optimization And 2026 Guidance Will Support Future Re Rating

Analysts have trimmed their average price targets for International Flavors & Fragrances by around $10 to $11 in recent updates, citing refreshed models after earnings, portfolio optimization progress, and more cautious assumptions around growth and profitability. Analyst Commentary Recent research shows a mix of price target trims and prior upward revisions, as analysts recalibrate models around International Flavors & Fragrances after earnings and portfolio moves.
FCX
US$70.21
Freeport-McMoRan
7D
3.2%
1Y
113.1%

FCX: Copper Strength And Grasberg Agreement Will Drive More Skewed Upside Outlook

Freeport-McMoRan's updated analyst price target moves from $70 to $81, with analysts pointing to revised metal price forecasts, higher assumed revenue growth, stronger profit margins, and recent positive views on copper demand and Grasberg asset clarity as key drivers behind the change. Analyst Commentary Recent Street research on Freeport-McMoRan shows a cluster of bullish revisions, with several firms lifting price targets and upgrading ratings while only a few have trimmed targets or turned more cautious.
CTVA
US$80.34
Corteva
7D
-3.8%
1Y
35.9%
ALB
US$197.75
Albemarle
7D
6.6%
1Y
273.0%

ALB: Lithium Price Recovery And Cost Discipline Will Support Bullish Re Rating

Analysts have raised their average price targets for Albemarle by double-digit dollar amounts, placing them in the $150 to $230 range. They cite higher lithium price assumptions, more constructive views on supply and demand, and ongoing cost discipline as key supports for the updated valuation inputs.
NUE
US$195.87
Nucor
7D
3.3%
1Y
83.6%

Nucor: Premier Steelmaker But Time To Take A Little Off The Table

Apr 12
LIN
US$492.23
Linde
7D
-3.3%
1Y
10.9%

LIN: Pricing Power And Capital Returns Will Shape Helium And Inflation Response

The analyst price target for Linde has been revised higher, with fair value moving from $503.52 to $516.41 as analysts factor in updated views on helium market pressure, pricing power, and the company’s positioning relative to other materials names. Analyst Commentary Recent Street research on Linde shows a mix of optimism and caution, with several firms adjusting price targets and ratings based on views of helium supply, pricing power, and how the company compares with other materials names.
SHW
US$345.55
Sherwin-Williams
7D
3.3%
1Y
7.2%

SHW: Fair Valuation Balances Execution Risks With Dividend And Buyback Support

Analysts have trimmed Sherwin-Williams' fair value estimate by about $3 to $317.76, reflecting recent cuts to Street price targets along with updated assumptions for discount rate, revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent Street research on Sherwin-Williams shows a shift in tone, with several bearish analysts cutting price targets and questioning how much upside is left at current valuations.