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U.S. Materials Sector Analysis

UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies460
  • 7D2.6%
  • 3M24.0%
  • 1Y35.7%
  • YTD19.1%

In the last week, the Materials industry is up 2.3%, with Southern Copper up 11%. In the last 12 months, the industry was up 34%. Earnings are forecast to grow by 18% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Feb 2026US$2.1tUS$845.3bUS$43.0b23.7x48.6x2.5x
Sun, 25 Jan 2026US$2.0tUS$853.1bUS$46.3b25.4x42.8x2.3x
Tue, 23 Dec 2025US$1.7tUS$852.9bUS$45.8b23.8x37.7x2x
Thu, 20 Nov 2025US$1.6tUS$852.3bUS$45.7b21.3x34.9x1.9x
Sat, 18 Oct 2025US$1.7tUS$835.8bUS$47.1b24x36x2x
Mon, 15 Sep 2025US$1.7tUS$838.0bUS$47.2b24x35.7x2x
Wed, 13 Aug 2025US$1.6tUS$836.7bUS$48.1b22.6x33.3x1.9x
Fri, 11 Jul 2025US$1.6tUS$835.7bUS$48.4b23.7x33.4x1.9x
Sun, 08 Jun 2025US$1.6tUS$852.8bUS$48.4b21.4x32.2x1.8x
Tue, 06 May 2025US$1.5tUS$852.4bUS$49.2b21x30.5x1.8x
Thu, 03 Apr 2025US$1.5tUS$863.9bUS$54.0b20.4x28.4x1.8x
Sat, 01 Mar 2025US$1.6tUS$869.0bUS$54.5b21.2x28.8x1.8x
Mon, 27 Jan 2025US$1.6tUS$873.4bUS$49.2b21.4x32.5x1.8x
Wed, 25 Dec 2024US$1.5tUS$876.0bUS$49.8b19.5x30.9x1.8x
Fri, 22 Nov 2024US$1.7tUS$876.7bUS$49.7b21.4x33.3x1.9x
Sun, 20 Oct 2024US$1.7tUS$875.2bUS$50.1b21.5x34.7x2x
Tue, 17 Sep 2024US$1.6tUS$870.7bUS$49.8b21.3x32.6x1.9x
Thu, 15 Aug 2024US$1.6tUS$870.9bUS$50.1b20.3x31.4x1.8x
Sat, 13 Jul 2024US$1.6tUS$866.4bUS$50.4b19.8x31.6x1.8x
Mon, 10 Jun 2024US$1.6tUS$871.2bUS$50.2b21.4x31.2x1.8x
Wed, 08 May 2024US$1.6tUS$871.9bUS$50.5b18.7x31.7x1.8x
Fri, 05 Apr 2024US$1.6tUS$880.1bUS$52.3b17.8x31.1x1.8x
Sun, 03 Mar 2024US$1.5tUS$880.0bUS$52.3b17.8x28.9x1.7x
Tue, 30 Jan 2024US$1.5tUS$903.8bUS$62.0b17.8x23.5x1.6x
Thu, 28 Dec 2023US$1.5tUS$906.2bUS$63.0b18.6x24.1x1.7x
Sat, 25 Nov 2023US$1.4tUS$908.1bUS$63.7b16.5x21.9x1.5x
Mon, 23 Oct 2023US$1.3tUS$893.5bUS$63.7b12.9x19.6x1.4x
Wed, 20 Sep 2023US$1.3tUS$889.8bUS$62.9b13.8x21.3x1.5x
Fri, 18 Aug 2023US$1.3tUS$887.3bUS$63.3b14x21.2x1.5x
Sun, 16 Jul 2023US$1.4tUS$936.3bUS$76.9b13.5x18.3x1.5x
Tue, 13 Jun 2023US$1.3tUS$936.9bUS$77.2b13.3x17.2x1.4x
Thu, 11 May 2023US$1.3tUS$934.7bUS$76.9b12.9x17.2x1.4x
Sat, 08 Apr 2023US$1.3tUS$952.4bUS$86.6b12x15.5x1.4x
Mon, 06 Mar 2023US$1.4tUS$952.7bUS$88.7b12.4x16.2x1.5x
Price to Earnings Ratio

16.2x


Total Market Cap: US$1.4tTotal Earnings: US$88.7bTotal Revenue: US$952.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Materials Sector Price to Earnings3Y Average 31.1x202420252026
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 49.0x which is higher than its 3-year average PE of 31.1x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.5x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 22% 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 Market0.58%
Materials2.65%
Metals and Mining6.79%
Chemicals0.66%
Basic Materials-1.05%
Paper and Forestry Products-2.30%
Packaging-3.06%
Industry PE
  • Investors are most optimistic about the Chemicals industry which is trading above its 3-year average PE ratio of 41.8x.
    • Analysts are expecting annual earnings growth of 21.5%, which is higher than its past year's earnings decline of 3.8% 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 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
SCCO Southern CopperUS$215.7011.1%
+US$17.9b		147.3%PE41.1x
AEM Agnico Eagle MinesUS$246.409.8%
+US$11.0b		159.1%PE27.6x
AU AngloGold AshantiUS$126.0717.1%
+US$9.3b		329.8%PE24.2x
FCX Freeport-McMoRanUS$68.389.3%
+US$8.4b		82.7%PE44.7x
NEM NewmontUS$127.471.7%
+US$2.3b		202.6%PE19.6x

Latest News

ALB
US$184.93
Albemarle
7D
9.8%
1Y
134.2%
FCX
US$68.38
Freeport-McMoRan
7D
9.3%
1Y
82.7%
AEM
US$246.40
Agnico Eagle Mines
7D
9.8%
1Y
159.1%
MOS
US$27.16
Mosaic
7D
-9.9%
1Y
8.3%
AU
US$126.07
AngloGold Ashanti
7D
17.1%
1Y
329.8%
LIN
US$498.51
Linde
7D
1.7%
1Y
8.3%
NUE
US$175.61
Nucor
7D
-2.5%
1Y
30.3%
RGLD
US$294.38
Royal Gold
7D
8.3%
1Y
103.0%

RGLD: Future Upside Will Rely On Higher P/E And Streaming Portfolio Execution

Our analyst price target for Royal Gold has shifted slightly higher to $329.73 from $324.18, reflecting how mixed Street calls, including recent target changes and rating moves, are feeding into updated assumptions on discount rate, growth, margins, and future P/E. Analyst Commentary Bullish Takeaways Bullish analysts lifting their targets, including a recent US$80 upward move and an earlier US$30 increase, point to confidence that current valuation still leaves room for upside if Royal Gold executes on its royalty and streaming portfolio plans.
CRH
US$121.14
CRH
7D
-3.5%
1Y
19.3%
NEM
US$127.47
Newmont
7D
1.7%
1Y
202.6%
SCCO
US$215.70
Southern Copper
7D
11.1%
1Y
147.3%

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.
DOW
US$29.90
Dow
7D
-4.7%
1Y
-22.2%

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$46.47
Smurfit Westrock
7D
-6.6%
1Y
-10.1%

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.
APD
US$276.23
Air Products and Chemicals
7D
-1.6%
1Y
-11.6%

APD: Backlog Execution And NASA Hydrogen Wins Will Shape Turnaround Path

The analyst price target for Air Products and Chemicals has been raised by about $1 to approximately $302, as analysts incorporate higher published targets from multiple firms and modest adjustments to assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. Analyst Commentary Recent Street research on Air Products and Chemicals has centered on a series of upward price target revisions and one key rating change, providing a view into how analysts are framing valuation, execution risk, and growth potential.
IP
US$43.13
International Paper
7D
-8.0%
1Y
-23.3%

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.
EMAT
US$8.60
Evolution Metals & Technologies
7D
-27.7%
1Y
-23.0%

Evolution Metals & Technologies Is Just The Beginning; Caution Is Advised

Jan 24