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U.S. Materials Sector Analysis

UpdatedFeb 23, 2026
DataAggregated Company Financials
Companies458
  • 7D0.3%
  • 3M26.6%
  • 1Y32.9%
  • YTD17.0%

Last week, the Materials industry hasn't moved much but Agnico Eagle Mines is up 11% in that time. As for the the longer term, the industry is up 33% 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
Tue, 24 Feb 2026US$2.1tUS$846.9bUS$44.2b23.6x46.6x2.4x
Thu, 22 Jan 2026US$1.9tUS$853.2bUS$46.1b25x41.6x2.3x
Sat, 20 Dec 2025US$1.7tUS$852.9bUS$45.8b23.8x37.5x2x
Mon, 17 Nov 2025US$1.6tUS$852.3bUS$45.7b21.8x35.5x1.9x
Wed, 15 Oct 2025US$1.7tUS$835.7bUS$47.0b24.1x36x2x
Fri, 12 Sep 2025US$1.7tUS$838.0bUS$47.2b24x35.2x2x
Sun, 10 Aug 2025US$1.6tUS$836.8bUS$48.0b22.3x33.5x1.9x
Tue, 08 Jul 2025US$1.6tUS$835.7bUS$48.4b22.8x33.5x1.9x
Thu, 05 Jun 2025US$1.6tUS$852.8bUS$48.5b21.1x32.1x1.8x
Sat, 03 May 2025US$1.5tUS$852.4bUS$50.2b20.5x29.6x1.7x
Mon, 31 Mar 2025US$1.5tUS$869.0bUS$53.9b20.5x28.3x1.8x
Wed, 26 Feb 2025US$1.6tUS$869.1bUS$54.8b21.8x28.8x1.8x
Fri, 24 Jan 2025US$1.6tUS$873.7bUS$49.2b20.8x32.4x1.8x
Sun, 22 Dec 2024US$1.5tUS$876.0bUS$49.8b19.3x30.7x1.7x
Tue, 19 Nov 2024US$1.6tUS$877.4bUS$50.1b20.9x32.5x1.9x
Thu, 17 Oct 2024US$1.7tUS$875.4bUS$50.4b22.4x34.1x2x
Sat, 14 Sep 2024US$1.6tUS$870.7bUS$49.8b21.2x32.3x1.9x
Mon, 12 Aug 2024US$1.6tUS$870.9bUS$50.3b20.2x31.1x1.8x
Wed, 10 Jul 2024US$1.5tUS$854.0bUS$49.6b19x31x1.8x
Fri, 07 Jun 2024US$1.6tUS$887.6bUS$50.8b21.7x31.4x1.8x
Sun, 05 May 2024US$1.6tUS$872.6bUS$50.7b18.1x31x1.8x
Tue, 02 Apr 2024US$1.6tUS$880.2bUS$52.3b18.3x31x1.8x
Thu, 29 Feb 2024US$1.5tUS$879.1bUS$52.2b17.9x28.6x1.7x
Sat, 27 Jan 2024US$1.5tUS$905.1bUS$62.8b17.6x23.2x1.6x
Mon, 25 Dec 2023US$1.5tUS$906.1bUS$63.0b18.6x23.9x1.7x
Wed, 22 Nov 2023US$1.4tUS$908.1bUS$63.7b16.6x21.7x1.5x
Fri, 20 Oct 2023US$1.3tUS$893.5bUS$63.8b13.1x19.9x1.4x
Sun, 17 Sep 2023US$1.3tUS$889.8bUS$62.9b13.8x21.4x1.5x
Tue, 15 Aug 2023US$1.4tUS$888.0bUS$63.4b14.1x21.7x1.5x
Thu, 13 Jul 2023US$1.4tUS$936.2bUS$76.8b13.7x18.3x1.5x
Sat, 10 Jun 2023US$1.3tUS$936.9bUS$77.2b13x17.2x1.4x
Mon, 08 May 2023US$1.3tUS$934.7bUS$78.2b12.6x17.2x1.4x
Wed, 05 Apr 2023US$1.4tUS$952.4bUS$86.6b12.2x15.6x1.4x
Fri, 03 Mar 2023US$1.4tUS$950.7bUS$85.8b12.2x16.5x1.5x
Price to Earnings Ratio

16.5x


Total Market Cap: US$1.4tTotal Earnings: US$85.8bTotal Revenue: US$950.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Materials Sector Price to Earnings3Y Average 31x202420252026
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 46.6x which is higher than its 3-year average PE of 31.0x.
  • The 3-year average PS ratio of 1.9x 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 3.8% 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 Market1.04%
Materials0.30%
Metals and Mining1.12%
Chemicals0.38%
Packaging-1.28%
Basic Materials-1.64%
Paper and Forestry Products-10.71%
Industry PE
  • Investors are most optimistic about the Paper and Forestry Products industry which is trading above its 3-year average PE ratio of 7.1x.
    • Analysts are expecting annual earnings growth of 37.6%, which is higher than its past year's earnings decline of 60.8% 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 38% 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
AEM Agnico Eagle MinesUS$240.4911.0%
+US$12.0b		146.7%PE27x
LIN LindeUS$498.193.6%
+US$8.0b		8.6%PE33.7x
SCCO Southern CopperUS$207.054.6%
+US$7.5b		131.2%PE39.5x
AU AngloGold AshantiUS$121.1210.3%
+US$5.7b		280.0%PE23.2x
FCX Freeport-McMoRanUS$65.554.3%
+US$3.9b		76.6%PE42.9x

Latest News

AU
US$121.12
AngloGold Ashanti
7D
10.3%
1Y
280.0%
AEM
US$240.49
Agnico Eagle Mines
7D
11.0%
1Y
146.7%
ECL
US$305.67
Ecolab
7D
2.2%
1Y
15.9%
FCX
US$65.55
Freeport-McMoRan
7D
4.3%
1Y
76.6%
VMC
US$310.79
Vulcan Materials
7D
-5.1%
1Y
23.5%

VMC: Highway Spending, Capital Returns And Execution Risks Will Shape Shares Into 2026

Our updated analyst price target for Vulcan Materials edges slightly lower to about $328 from roughly $329, as analysts factor in mixed reactions to the recent Q4 earnings miss, modest volume expectations into 2026, and differing views on valuation and the pace of medium term growth. Analyst Commentary Recent Street research around Vulcan Materials reflects a split view, with some analysts leaning into the long term story despite the Q4 earnings miss, and others taking a more cautious stance on valuation and near term execution risks.
CRH
US$121.49
CRH
7D
-3.6%
1Y
21.1%
NEM
US$124.25
Newmont
7D
-1.2%
1Y
182.1%
SCCO
US$207.05
Southern Copper
7D
4.6%
1Y
131.2%

SCCO: Rich Margins And Cash Returns Will Likely Cap Future Upside

The analyst price target for Southern Copper has moved higher by about $11 as analysts adjust their assumptions around profit margins, future P/E and cash generation, while reflecting a mix of recent target hikes and downgrades across the Street. Analyst Commentary Recent Street research on Southern Copper reflects a mixed backdrop, with several firms lifting price targets while a few high profile houses turn more cautious on the shares.
PPG
US$125.35
PPG Industries
7D
-4.6%
1Y
10.4%
CDE
US$24.43
Coeur Mining
7D
9.0%
1Y
357.5%

CDE: Expanded Share Authorization And Exploration Program Will Support Future Upside Potential

Analysts have lifted their price target on Coeur Mining by about $0.51, reflecting updated views on its fair value, discount rate, revenue growth, profit margin, and future P/E after recent Street research, including the latest target increase highlighted by RBC Capital. Analyst Commentary Analysts updating their work on Coeur Mining are using the higher price target to reflect how they see the trade off between potential upside and execution risk from here.
DOW
US$30.30
Dow
7D
-6.7%
1Y
-22.4%

DOW: Improving Industry Setup And Buybacks Will Support Higher Future Earnings Multiple

Analysts have trimmed their fair value estimate for Dow to about $38.39 from $41.52, reflecting updated views on discount rates, revenue growth, profit margins, and a lower assumed future P/E, even as recent Street research has generally moved official price targets higher by $1 to $5. Analyst Commentary Recent Street research on Dow has tilted constructive, with several bullish analysts lifting their price targets in quick succession.
SW
US$46.29
Smurfit Westrock
7D
-10.2%
1Y
-14.0%

SW: Fair Value View Will Weigh Quebec Closures Against Earnings Potential

Analysts have raised their price target on Smurfit WestRock from $44.50 to $51.00. They attribute the higher valuation mainly to a revised future P/E assumption of 20.49x, along with adjusted expectations for revenue growth and profit margins.
ALB
US$177.52
Albemarle
7D
6.7%
1Y
119.1%

ALB: Lithium Supply Tightening And Pricing Recovery Will Drive Re Rating

The analyst price target for Albemarle has been raised to $230, up from $143.88, as analysts factor in stronger lithium pricing, improved supply and demand expectations, and updated views on margins and future price-to-earnings (P/E) multiples. Analyst Commentary Recent Street research on Albemarle has tilted more positive, with several bullish analysts lifting price targets and moving to more constructive ratings.
PKG
US$225.55
Packaging Corporation of America
7D
-8.4%
1Y
7.5%

PKG: 2026 Volume Headwinds And Mill Restructuring May Pressure Returns

Analysts have lifted their average price target for Packaging Corporation of America by about $8 to reflect updated views on containerboard pricing power, changes in projected 2026 volumes, and a slightly higher assumed future P/E multiple. Analyst Commentary Recent research on Packaging Corporation of America points to a mixed backdrop, with some firms lifting price targets and others trimming estimates as they reassess containerboard volumes and valuation assumptions heading into 2026.
IP
US$44.41
International Paper
7D
-9.6%
1Y
-19.7%

IP: Planned Split And Sector Pricing Risks Will Pressure Execution

Analysts made a modest upward adjustment to their consolidated price target on International Paper, with changes generally within a $1 range. This reflects mixed views that balance slightly stronger long term margin and growth assumptions against recent rating shifts and updated expectations for sector pricing and the planned company split.
LIN
US$498.19
Linde
7D
3.6%
1Y
8.6%