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U.S. Materials Sector Analysis

UpdatedJan 11, 2026
DataAggregated Company Financials
Companies460
  • 7D6.7%
  • 3M9.6%
  • 1Y27.2%
  • YTD6.7%

The Materials industry is up 6.7% in the last week, with Southern Copper up 15%. In the last 12 months, the industry was up 27%. As for the next few years, earnings are expected to grow by 20% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Sat, 25 Mar 2023US$1.3tUS$952.2bUS$88.0b11.9x14.9x1.4x
Mon, 20 Feb 2023US$1.4tUS$952.9bUS$89.2b11.9x15.6x1.5x
Wed, 18 Jan 2023US$1.4tUS$967.8bUS$95.5b11.6x14.7x1.5x
Price to Earnings Ratio

14.7x


Total Market Cap: US$1.4tTotal Earnings: US$95.5bTotal Revenue: US$967.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Materials Sector Price to Earnings3Y Average 29.9x202420252026
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 40.7x which is higher than its 3-year average PE of 29.9x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.2x.
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 4.1% 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 Market1.88%
Materials6.70%
Paper and Forestry Products10.81%
Metals and Mining9.29%
Basic Materials5.15%
Chemicals5.11%
Packaging4.34%
Industry PE
  • Investors are most optimistic about the Chemicals industry which is trading above its 3-year average PE ratio of 38.6x.
    • Analysts are expecting annual earnings growth of 23.2%, which is higher than its past year's earnings decline of 8.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Paper and Forestry Products industry, expecting annual earnings growth of 29% over the next 5 years.
  • This is better than its past earnings decline of 41% 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$170.5214.7%
+US$17.9b		86.8%PE36.6x
AEM Agnico Eagle MinesUS$191.1412.1%
+US$10.4b		126.7%PE27.8x
EMAT Evolution Metals & TechnologiesUS$16.4038.7%
+US$9.7b		41.3%n/a
NEM NewmontUS$108.997.7%
+US$8.4b		178.7%PE16.5x
LIN LindeUS$444.083.5%
+US$7.0b		7.2%PE29.2x

Latest News

LIN
US$444.08
Linde
7D
3.5%
1Y
7.2%

LIN: Defensive Profile And Buybacks Will Support 2026 Rerating Potential

Analysts have nudged their price target for Linde up from about $502.88 to $503.21, reflecting updated assumptions around revenue growth, profit margins and future P/E. They have also weighed recent research that includes an upgrade to Buy and removal from a top ideas list.
SCCO
US$170.52
Southern Copper
7D
14.7%
1Y
86.8%

SCCO: Elevated Copper Prices Will Limit Future Upside Despite Supply Disruptions

Analysts have lifted their price target on Southern Copper to about US$128 from roughly US$118, citing higher projected fair value supported by updated assumptions for revenue growth, profit margins and P/E, as well as Street research that attributes the change to strong copper pricing driven by supply disruptions. Analyst Commentary Bullish Takeaways Bullish analysts point to copper prices sitting at record decades high levels, which they see as supportive for Southern Copper's revenue assumptions and higher fair value estimates.
CLF
US$12.76
Cleveland-Cliffs
7D
-6.2%
1Y
28.9%

CLF: Rare Earths Excitement Will Eventually Clash With Rising Cost Pressures

Analysts have trimmed their average price expectations for Cleveland-Cliffs to about US$12.50 to US$16, reflecting concerns about valuation, higher than expected costs and a mixed macro backdrop, even as some still highlight catalysts around auto contracts, liquidity and updated post earnings models. Analyst Commentary Recent Street research around Cleveland-Cliffs has leaned more cautious, with several bearish analysts pulling back on their expectations while a few remain constructive.
AEM
US$191.14
Agnico Eagle Mines
7D
12.1%
1Y
126.7%
NEM
US$108.99
Newmont
7D
7.7%
1Y
178.7%

NEM: Fair Value View Balances Gold Upside And Barrick Acquisition Optionality

Narrative Update on Newmont Analysts have lifted their price expectations for Newmont, with our fair value estimate moving from about US$104.53 to roughly US$110.65. This change is supported by refreshed gold price forecasts, updated metals pricing assumptions, and views that production, free cash flow, and capital management remain supportive, even as the macro backdrop for commodities stays challenging.
LOMA
US$12.46
Loma Negra Compañía Industrial Argentina Sociedad Anónima
7D
-3.3%
1Y
-1.5%

Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE:LOMA) Might Be Having Difficulty Using Its Capital Effectively

Jan 08
Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE:LOMA) Might Be Having Difficulty Using Its Capital Effectively
FCX
US$56.53
Freeport-McMoRan
7D
8.9%
1Y
45.0%

FCX: Copper Price Strength And Grasberg Clarity Will Drive Future Upside

Analysts have lifted their Fair Value estimate for Freeport-McMoRan from $57.00 to about $67.43. They point to higher updated Street price targets and refreshed models that factor in recent copper price realizations, revised commodity forecasts, and evolving views on Grasberg related risks and multi year visibility.
STLD
US$169.27
Steel Dynamics
7D
-3.9%
1Y
45.5%

STLD: Tariff Policy And Demand Rebound Will Shape Balanced Return Outlook

Analysts have lifted their fair value estimate for Steel Dynamics to about $183 per share from roughly $181, noting updated price targets from US$165 to US$185 and refreshed models that factor in a mixed demand backdrop across North America, China, the U.S. and Europe. Analyst Commentary Recent Street research on Steel Dynamics reflects a mix of optimism and caution, with several firms updating price targets and ratings as they incorporate new macro views and refreshed models.
SHW
US$353.28
Sherwin-Williams
7D
7.8%
1Y
7.0%
AU
US$92.25
AngloGold Ashanti
7D
7.8%
1Y
255.1%

AU: Rising Gold Output And Regular Dividends Will Support Future Upside

Analysts have raised their price target on AngloGold Ashanti from 90.57 dollars to 98.00 dollars, reflecting expectations of faster revenue growth despite slightly higher discount rates and lower projected profit margins, as well as a richer future earnings multiple. What's in the News Announced an interim dividend of 0.91 US dollars per share for the quarter ended 30 September 2025, with NYSE shares trading ex dividend and on record on 28 November 2025 and payment scheduled for 12 December 2025 (company announcement).
ORBS
US$1.68
Eightco Holdings
7D
-7.7%
1Y
-0.6%
NUE
US$163.77
Nucor
7D
-3.3%
1Y
38.6%

NUE: Future Steel Demand And Tariff Shifts Will Influence Share Performance

Nucor's analyst price target has been modestly raised to approximately $177 from about $174, as analysts factor in slightly stronger long term profit margins and resilient steel demand in the U.S. and Europe despite a challenging macro backdrop. Analyst Commentary Recent Street research on Nucor has been broadly constructive, with several bullish analysts lifting their price targets in response to updated models and a reassessment of the profit outlook.
SGML
US$13.51
Sigma Lithium
7D
-4.9%
1Y
15.8%

SGML: Liquidity Risks Will Temper Benefits From Higher Lithium Pricing

Analysts have nudged their price target on Sigma Lithium higher to approximately $13.00 from about $10.50, citing stronger long term lithium pricing that modestly boosts revenue growth expectations, even as slightly lower margin forecasts and higher forward valuation multiples temper the upside. Analyst Commentary Recent updates from covering analysts reflect a more nuanced stance on Sigma Lithium, balancing improving fundamentals against ongoing macro and capital structure risks.
ICL
US$5.59
ICL Group
7D
-3.5%
1Y
7.5%
TRS
US$35.07
TriMas
7D
-3.4%
1Y
53.9%

TRS: Higher Margins And Share Repurchases Will Drive Future Upside Potential

Analysts have modestly raised their price target on TriMas from 41.50 dollars to 41.50 dollars, reflecting slightly higher long term margin expectations that more than offset a softer near term revenue growth outlook. What's in the News TriMas appointed longtime company veteran Paul Swart as Chief Financial Officer, effective December 15, 2025, succeeding interim CFO and board member Teresa M.