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U.S. Materials Sector Analysis

UpdatedAug 23, 2026
DataAggregated Company Financials
Companies438
  • 7D4.4%
  • 3M7.9%
  • 1Y25.8%
  • YTD18.1%

The Materials industry is up 4.2% in the last week, with Southern Copper up 17%. Meanwhile, Nucor actually underperformed within the industry, shrinking 9.4% in the last week. This takes the industry's 12 month performance to a gain of 25%. Earnings are forecast to grow by 17% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 23 Aug 2026US$2.0tUS$882.9bUS$58.2b21.9x35.2x2.3x
Tue, 21 Jul 2026US$1.8tUS$862.6bUS$54.0b20.7x34.1x2.1x
Thu, 18 Jun 2026US$2.0tUS$863.8bUS$53.8b22.1x37x2.3x
Sat, 16 May 2026US$2.0tUS$863.0bUS$53.6b21.8x36.9x2.3x
Mon, 13 Apr 2026US$2.0tUS$840.7bUS$43.1b22x46.7x2.4x
Wed, 11 Mar 2026US$1.9tUS$845.8bUS$43.8b21.7x44.4x2.3x
Fri, 06 Feb 2026US$2.0tUS$857.2bUS$41.1b24.6x48.6x2.3x
Sun, 04 Jan 2026US$1.8tUS$852.9bUS$45.8b23.8x38.3x2.1x
Tue, 02 Dec 2025US$1.7tUS$852.7bUS$45.8b22.8x36.8x2x
Thu, 30 Oct 2025US$1.7tUS$843.5bUS$49.3b24.2x34.1x2x
Sat, 27 Sep 2025US$1.7tUS$838.3bUS$47.3b23.5x34.9x2x
Mon, 25 Aug 2025US$1.7tUS$838.0bUS$47.3b23.9x35.2x2x
Wed, 23 Jul 2025US$1.6tUS$832.9bUS$48.0b23x33.6x1.9x
Fri, 20 Jun 2025US$1.5tUS$837.6bUS$48.5b21.4x31.6x1.8x
Sun, 18 May 2025US$1.6tUS$866.1bUS$49.9b21.3x31.4x1.8x
Tue, 15 Apr 2025US$1.4tUS$863.9bUS$54.3b19x26.6x1.7x
Thu, 13 Mar 2025US$1.5tUS$867.8bUS$54.2b21.1x28x1.8x
Sat, 08 Feb 2025US$1.6tUS$870.1bUS$48.5b20.8x33.3x1.9x
Mon, 06 Jan 2025US$1.5tUS$875.8bUS$49.7b18.9x30.2x1.7x
Wed, 04 Dec 2024US$1.7tUS$876.1bUS$49.7b21.5x34x1.9x
Fri, 01 Nov 2024US$1.7tUS$880.7bUS$50.4b20x32.9x1.9x
Sun, 29 Sep 2024US$1.7tUS$870.8bUS$49.7b21.7x34.5x2x
Tue, 27 Aug 2024US$1.6tUS$870.2bUS$49.9b21.4x32.9x1.9x
Thu, 25 Jul 2024US$1.6tUS$864.8bUS$49.9b20.1x32.2x1.9x
Sat, 22 Jun 2024US$1.6tUS$870.9bUS$50.1b20.2x31x1.8x
Mon, 20 May 2024US$1.6tUS$871.5bUS$50.3b21.9x32.4x1.9x
Wed, 17 Apr 2024US$1.6tUS$879.9bUS$52.3b16.9x30x1.8x
Fri, 15 Mar 2024US$1.6tUS$880.5bUS$52.5b17.6x29.9x1.8x
Sun, 11 Feb 2024US$1.4tUS$875.6bUS$60.5b18.4x23.8x1.6x
Tue, 09 Jan 2024US$1.5tUS$905.9bUS$63.3b18.5x23.4x1.6x
Thu, 07 Dec 2023US$1.4tUS$906.3bUS$63.5b16.7x22x1.5x
Sat, 04 Nov 2023US$1.3tUS$911.1bUS$61.7b13.8x21.8x1.5x
Mon, 02 Oct 2023US$1.3tUS$894.2bUS$63.5b14.3x20.6x1.5x
Wed, 30 Aug 2023US$1.4tUS$887.4bUS$63.3b14.7x21.7x1.5x
Price to Earnings Ratio

21.7x


Total Market Cap: US$1.4tTotal Earnings: US$63.3bTotal Revenue: US$887.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Materials Sector Price to Earnings3Y Average 34.6x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Materials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 34.6x.
  • The industry is trading close to its 3-year average PS ratio of 2.1x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 2.7% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

US Market-1.49%
Materials4.41%
Metals and Mining9.63%
Packaging1.72%
Chemicals0.81%
Basic Materials-2.08%
Paper and Forestry Products-2.53%
Industry PE
  • Investors are most optimistic about the Chemicals industry which is trading above its 3-year average PE ratio of 52.4x.
    • Analysts are expecting annual earnings growth of 21.8%, which is higher than its past year's earnings growth of 2.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Paper and Forestry Products industry, expecting annual earnings growth of 68% over the next 5 years.
  • This is better than its past earnings decline of 65% per year.
  • In contrast, the Metals and Mining 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$216.0017.0%
+US$26.5b		130.2%PE32.2x
AEM Agnico Eagle MinesUS$216.0615.9%
+US$15.0b		57.4%PE18.6x
FCX Freeport-McMoRanUS$76.6615.3%
+US$14.6b		77.1%PE37.5x
NEM NewmontUS$131.5811.7%
+US$14.5b		85.9%PE16.1x
AU AngloGold AshantiUS$121.2225.9%
+US$12.7b		122.0%PE16.3x

Latest News

RGLD
US$259.01
Royal Gold
7D
12.3%
1Y
46.0%
NEM
US$131.58
Newmont
7D
11.7%
1Y
85.9%
SCCO
US$216.00
Southern Copper
7D
17.0%
1Y
130.2%
FCX
US$76.66
Freeport-McMoRan
7D
15.3%
1Y
77.1%
AU
US$121.22
AngloGold Ashanti
7D
25.9%
1Y
122.0%
Narrative Update • Aug 21

AU: Dividends And Buyback Plan Will Support Balanced Future Returns

Analysts have trimmed their price target for AngloGold Ashanti from $118.00 to about $113.13, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations. What's in the News AngloGold Ashanti declared an interim dividend for the second quarter of 2026 of US$0.72 per share, with key dates for New York Stock Exchange and South African Register holders set around August 21, 2026, and payment on September 4, 2026.
STLD
US$228.68
Steel Dynamics
7D
-10.6%
1Y
72.4%
SOLS
US$56.16
Solstice Advanced Materials
7D
-10.4%
1Y
n/a
MTRN
US$231.96
Materion
7D
-18.1%
1Y
104.4%
Narrative Update • Aug 20

MTRN: Higher Electronic Materials Margins Will Support Stronger 2026 Outlook

Analysts have lifted their Materion price target to $237 from $223, citing stronger expectations for Electronic Materials segment margins supported by a richer product mix and cost efficiencies discussed after the Q1 update. What's in the News for Materion Materion reported that from April 1, 2026 to June 30, 2026, it repurchased 0 shares for US$0 million under the buyback program announced on October 29, 2025, and that this tranche is now complete.
SHW
US$346.59
Sherwin-Williams
7D
-3.5%
1Y
-7.1%
NUE
US$243.63
Nucor
7D
-9.4%
1Y
64.7%
Seeking Alpha • Aug 18

Nucor: Tariff Shield, Rising Capacity, And Infrastructure Demand Merit A Strong Buy

Summary Nucor Corporation is positioned for durable growth as U.S. steel demand strengthens and import volumes decline, supporting higher pricing and volumes. New capacity from the West Virginia sheet mill and Utah Towers facility will drive volume growth, with start-up costs expected through eFY27 before normalizing. NUE's strong balance sheet and reduced net leverage (0.77x) provide flexibility for expansion and M&A, while Section 232 tariffs and infrastructure demand underpin the bullish outlook. I reiterate a Strong Buy rating on NUE stock with a $306/share price target, reflecting 8.94x eFY28 EV/EBITDA, justified by robust operating leverage and market tailwinds. Read the full article on Seeking Alpha
APD
US$305.10
Air Products and Chemicals
7D
-1.3%
1Y
1.9%
AEM
US$216.06
Agnico Eagle Mines
7D
15.9%
1Y
57.4%
Narrative Update • Aug 10

AEM: Barnat Setback And Softer Gold Outlook Will Pressure Returns

Agnico Eagle Mines' updated analyst price target reflects a modest reset in fair value to $112.50 from $115.10, as analysts factor in softer revenue expectations alongside slightly stronger profit margins and a higher future P/E assumption. Analyst Commentary Recent Street research on Agnico Eagle Mines shows a mix of caution and support, with several firms recalibrating their targets around commodity assumptions, company specific events and sector positioning.
RS
US$387.89
Reliance
7D
-9.1%
1Y
31.7%
CRH
US$95.07
CRH
7D
-2.1%
1Y
-16.1%
CTVA
US$81.79
Corteva
7D
6.7%
1Y
11.5%
Narrative Update • Aug 04

CTVA: Upcoming Seed Spinoff And Crop Protection Pipeline Will Reshape Earnings Mix

Analysts lifted their price target for Corteva to $92.40 from $90.05, pointing to updated expectations around the Vylor seed spinoff, the crop protection and fertilizer backdrop, and the revised P/E and profitability assumptions cited in recent research. Analyst Commentary Recent research on Corteva centers on how the Vylor seed spinoff, crop protection trends, and fertilizer market conditions may affect valuation, growth prospects, and execution risk.
LIN
US$487.57
Linde
7D
1.0%
1Y
1.2%
Seeking Alpha • Aug 03

Linde: My 'Not Cheap' Thesis Has Been True Since 2023

Summary Linde plc remains a 'Hold' due to excessive valuation, despite its world-class fundamentals and robust profitability. LIN trades at a 27x-30x P/E, requiring unrealistic growth or sector re-rating to justify current levels and deliver meaningful upside. Recent results show strong margins, cash generation, and backlog, but capital allocation—especially buybacks at high multiples—raises concerns. My fair value is $340/share, with a 15% annualized hurdle; current risk/reward is unattractive until a significant valuation correction. Read the full article on Seeking Alpha