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U.S. Materials Sector Analysis

UpdatedApr 22, 2026
DataAggregated Company Financials
Companies446
  • 7D-1.9%
  • 3M2.0%
  • 1Y37.8%
  • YTD13.0%

Over the last 7 days, the Materials industry has dropped 1.9%, driven by a pullback from Newmont of 8.4%. Meanwhile, Nucor actually outperformed within the industry, gaining 9.5% in the last week. In the past year, the industry has gained 38%. 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
Wed, 22 Apr 2026US$2.0tUS$841.9bUS$43.1b21.9x46.8x2.4x
Fri, 20 Mar 2026US$1.8tUS$845.8bUS$43.6b20.4x42.3x2.2x
Sun, 15 Feb 2026US$2.1tUS$849.0bUS$40.9b24.6x50.2x2.4x
Tue, 13 Jan 2026US$1.9tUS$853.2bUS$46.2b25.2x40.7x2.2x
Thu, 11 Dec 2025US$1.7tUS$852.8bUS$45.8b23.5x36.3x1.9x
Sat, 08 Nov 2025US$1.6tUS$851.3bUS$45.7b22.6x34.8x1.9x
Mon, 06 Oct 2025US$1.7tUS$835.9bUS$46.9b24.4x36.2x2x
Wed, 03 Sep 2025US$1.7tUS$837.9bUS$47.3b23.7x35.3x2x
Fri, 01 Aug 2025US$1.6tUS$840.4bUS$48.0b21x32.8x1.9x
Sun, 29 Jun 2025US$1.6tUS$837.4bUS$48.4b22.1x32.2x1.9x
Tue, 27 May 2025US$1.5tUS$852.9bUS$47.6b20.9x32x1.8x
Thu, 24 Apr 2025US$1.5tUS$864.6bUS$54.8b19.2x26.7x1.7x
Sat, 22 Mar 2025US$1.6tUS$869.1bUS$54.0b21.4x28.8x1.8x
Mon, 17 Feb 2025US$1.6tUS$870.1bUS$49.6b21.2x32.5x1.9x
Wed, 15 Jan 2025US$1.5tUS$872.1bUS$49.3b19.5x31.4x1.8x
Fri, 13 Dec 2024US$1.6tUS$876.1bUS$49.7b21.4x32.9x1.9x
Sun, 10 Nov 2024US$1.7tUS$878.7bUS$50.3b21.6x33.7x1.9x
Tue, 08 Oct 2024US$1.7tUS$868.6bUS$50.1b21.6x33.6x1.9x
Thu, 05 Sep 2024US$1.6tUS$870.5bUS$49.8b20.9x32.3x1.8x
Sat, 03 Aug 2024US$1.6tUS$870.5bUS$49.7b20.1x32.6x1.9x
Mon, 01 Jul 2024US$1.5tUS$873.5bUS$50.1b20.3x30.8x1.8x
Wed, 29 May 2024US$1.6tUS$871.5bUS$50.3b21.7x32x1.8x
Fri, 26 Apr 2024US$1.6tUS$880.1bUS$52.0b16.6x29.9x1.8x
Sun, 24 Mar 2024US$1.6tUS$880.5bUS$52.2b17.4x30.4x1.8x
Tue, 20 Feb 2024US$1.5tUS$875.1bUS$56.9b19x25.9x1.7x
Thu, 18 Jan 2024US$1.4tUS$905.7bUS$63.3b17.5x22.6x1.6x
Sat, 16 Dec 2023US$1.5tUS$906.1bUS$63.0b17.8x23.4x1.6x
Mon, 13 Nov 2023US$1.3tUS$908.3bUS$63.7b15.1x20.9x1.5x
Wed, 11 Oct 2023US$1.3tUS$894.2bUS$63.5b14x20.6x1.5x
Fri, 08 Sep 2023US$1.3tUS$889.6bUS$62.9b13.7x21.4x1.5x
Sun, 06 Aug 2023US$1.4tUS$893.9bUS$64.5b14.6x21.5x1.5x
Tue, 04 Jul 2023US$1.4tUS$936.0bUS$76.9b13.9x18.1x1.5x
Thu, 01 Jun 2023US$1.3tUS$934.6bUS$77.1b12.2x16.3x1.3x
Sat, 29 Apr 2023US$1.4tUS$940.2bUS$82.7b12.7x16.4x1.4x
Price to Earnings Ratio

16.4x


Total Market Cap: US$1.4tTotal Earnings: US$82.7bTotal Revenue: US$940.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Materials Sector Price to Earnings3Y Average 32.6x202420252026
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 46.8x which is higher than its 3-year average PE of 32.6x.
  • 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 3.6% 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 Market1.31%
Materials-1.94%
Chemicals-0.53%
Basic Materials-1.14%
Packaging-1.18%
Metals and Mining-3.60%
Paper and Forestry Products-4.72%
Industry PE
  • Investors are most optimistic about the Chemicals industry which is trading above its 3-year average PE ratio of 46.4x.
    • 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, although it looks like investor sentiment has improved given that it's trading above 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
NUE NucorUS$208.069.5%
+US$4.1b		89.8%PE27.3x
STLD Steel DynamicsUS$220.2112.8%
+US$3.6b		87.6%PE23.2x
MP MP MaterialsUS$65.7614.6%
+US$1.5b		187.8%PS42.4x
USAR USA Rare EarthUS$22.8534.5%
+US$1.3b		122.9%PS3031.5x
ALB AlbemarleUS$198.424.5%
+US$1.0b		262.3%PS4.5x

Latest News

PRM
US$29.39
Perimeter Solutions
7D
11.1%
1Y
195.4%
STLD
US$220.21
Steel Dynamics
7D
12.8%
1Y
87.6%
AEM
US$203.09
Agnico Eagle Mines
7D
-7.7%
1Y
67.7%
RGLD
US$252.91
Royal Gold
7D
-6.9%
1Y
39.5%
SCCO
US$183.53
Southern Copper
7D
-5.1%
1Y
113.7%

Update On Southern Copper- The Bullish Trend Continues

Apr 21
USAR
US$22.85
USA Rare Earth
7D
34.5%
1Y
122.9%
ALB
US$198.42
Albemarle
7D
4.5%
1Y
262.3%

Albemarle: BESS Demand May Make This The Last Lithium Cycle That Looks Like A Cycle

Apr 21
CDE
US$18.44
Coeur Mining
7D
-12.9%
1Y
220.7%

Coeur's Next Leg Is About Duration, Not Just Scale

Apr 21
MP
US$65.76
MP Materials
7D
14.6%
1Y
187.8%

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).
NEM
US$109.30
Newmont
7D
-8.4%
1Y
100.4%

NEM: Higher Diesel Costs Will Pressure Margins Despite Gold Price Optimism

The analyst price target for Newmont has been adjusted slightly higher to reflect updated assumptions around profit margins and a lower future P/E, even as recent Street research has featured both target hikes and cuts tied to changing views on gold prices, the new CEO's agenda, and input costs such as diesel. Analyst Commentary Recent research on Newmont reflects a mix of optimism and caution, with several bearish analysts flagging risks around costs, execution, and valuation.
NEXA
US$15.14
Nexa Resources
7D
26.8%
1Y
156.2%

Nexa; an integrated base-metals platform with real cash-flow torque?

Rating: Speculative Buy / Deep-Value Metals PlayStyle: Cyclical mining and smelting with zinc leverage and balance-sheet repair Core debate: Is Nexa just a cheap Latin American zinc name trapped in a volatile commodity cycle, or is it an underappreciated integrated base-metals platform with real cash-flow torque, diversified by-products, and upside if zinc fundamentals tighten further? Executive view Nexa is one of the cheaper ways to gain exposure to zinc and related base metals, but the investment case is stronger than a simple commodity beta trade.
CTVA
US$80.35
Corteva
7D
-3.1%
1Y
32.5%
AU
US$100.45
AngloGold Ashanti
7D
-8.5%
1Y
132.8%

AU: Rich P/E And Costly Nevada Project Will Likely Restrain Future Returns

Analysts have kept their price target for AngloGold Ashanti steady at $75.00, citing updated assumptions that reflect a slightly higher discount rate and lower revenue growth, along with a stronger profit margin profile and a modestly lower future P/E multiple. What's in the News Completed a Technical Report Summary for the Arthur Gold Project in Nevada, outlining a Tier One gold deposit with an initial nine year mine life and average annual production of about 500,000 oz of gold, supported by a first time Probable Mineral Reserve of 4.9 Moz of contained gold and 7.8 Moz of contained silver as at 31 December 2025 (Key Developments).
NUE
US$208.06
Nucor
7D
9.5%
1Y
89.8%

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

Apr 12
LIN
US$494.84
Linde
7D
-1.0%
1Y
8.8%

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.
RS
US$335.99
Reliance
7D
3.9%
1Y
20.0%