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U.S. Materials Sector Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies449
  • 7D-7.7%
  • 3M17.4%
  • 1Y29.0%
  • YTD10.7%

Over the last 7 days, the Materials industry has dropped 8.4%, driven by Southern Copper declining 13%. Meanwhile, LyondellBasell Industries actually outperformed within the industry, gaining 15% in the last week. In the past year, the industry has gained 29%. Looking forward, 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
Tue, 10 Mar 2026US$1.9tUS$845.6bUS$43.9b21.9x44x2.3x
Thu, 05 Feb 2026US$2.0tUS$856.9bUS$43.0b24.9x46.4x2.3x
Sat, 03 Jan 2026US$1.7tUS$852.9bUS$45.8b23.8x37.7x2x
Mon, 01 Dec 2025US$1.7tUS$852.7bUS$45.8b22.8x36.8x2x
Wed, 29 Oct 2025US$1.7tUS$843.0bUS$49.7b23.3x33.7x2x
Fri, 26 Sep 2025US$1.7tUS$838.3bUS$47.3b23.3x35.2x2x
Sun, 24 Aug 2025US$1.7tUS$838.0bUS$47.3b23.9x35.2x2x
Tue, 22 Jul 2025US$1.6tUS$833.0bUS$48.7b22.6x32.8x1.9x
Thu, 19 Jun 2025US$1.5tUS$837.6bUS$48.5b21.4x31.7x1.8x
Sat, 17 May 2025US$1.6tUS$866.1bUS$49.9b21.3x31.2x1.8x
Mon, 14 Apr 2025US$1.4tUS$863.9bUS$54.3b19x26.6x1.7x
Wed, 12 Mar 2025US$1.5tUS$867.9bUS$54.1b20.9x28.1x1.8x
Fri, 07 Feb 2025US$1.6tUS$870.1bUS$48.2b21.4x33.4x1.8x
Sun, 05 Jan 2025US$1.5tUS$875.8bUS$49.7b18.9x30.2x1.7x
Tue, 03 Dec 2024US$1.7tUS$876.1bUS$49.7b21.2x34x1.9x
Thu, 31 Oct 2024US$1.7tUS$874.9bUS$50.3b21.3x33.4x1.9x
Sat, 28 Sep 2024US$1.7tUS$870.8bUS$49.7b21.6x34.6x2x
Mon, 26 Aug 2024US$1.6tUS$870.3bUS$49.9b21.8x32.9x1.9x
Wed, 24 Jul 2024US$1.6tUS$864.4bUS$49.4b20.5x32.4x1.9x
Fri, 21 Jun 2024US$1.6tUS$871.2bUS$50.2b20.1x30.9x1.8x
Sun, 19 May 2024US$1.6tUS$871.5bUS$50.3b21.9x32.4x1.9x
Tue, 16 Apr 2024US$1.6tUS$879.9bUS$52.3b16.8x30.2x1.8x
Thu, 14 Mar 2024US$1.6tUS$880.6bUS$52.4b17.6x29.6x1.8x
Sat, 10 Feb 2024US$1.4tUS$875.5bUS$60.5b18.4x23.8x1.6x
Mon, 08 Jan 2024US$1.5tUS$906.1bUS$63.4b18.1x23.3x1.6x
Wed, 06 Dec 2023US$1.4tUS$911.0bUS$63.7b16.8x22.3x1.6x
Fri, 03 Nov 2023US$1.3tUS$911.3bUS$61.9b13.7x21x1.4x
Sun, 01 Oct 2023US$1.3tUS$894.2bUS$63.5b14.3x20.6x1.5x
Tue, 29 Aug 2023US$1.3tUS$887.3bUS$63.3b14.8x21.1x1.5x
Thu, 27 Jul 2023US$1.4tUS$925.5bUS$72.2b14.1x20x1.6x
Sat, 24 Jun 2023US$1.3tUS$936.7bUS$76.8b12.5x17.3x1.4x
Mon, 22 May 2023US$1.3tUS$934.7bUS$77.1b12.8x17.1x1.4x
Wed, 19 Apr 2023US$1.4tUS$952.5bUS$88.2b12.3x15.7x1.5x
Fri, 17 Mar 2023US$1.3tUS$952.4bUS$88.4b11.6x14.7x1.4x
Price to Earnings Ratio

14.7x


Total Market Cap: US$1.3tTotal Earnings: US$88.4bTotal Revenue: US$952.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Materials Sector Price to Earnings3Y Average 31.4x202420252026
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 44.0x which is higher than its 3-year average PE of 31.4x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 21% 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 Market-1.50%
Materials-7.66%
Chemicals-3.86%
Paper and Forestry Products-7.00%
Packaging-8.25%
Basic Materials-9.19%
Metals and Mining-10.80%
Industry PE
  • Investors are most optimistic about the Paper and Forestry Products industry which is trading above its 3-year average PE ratio of 8.7x.
    • Analysts are expecting annual earnings growth of 36.2%, which is higher than its past year's earnings decline of 60.8% per year.
  • Investors are most pessimistic about the Basic Materials industry, which is trading close to 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
LYB LyondellBasell IndustriesUS$66.8215.4%
+US$2.9b		-12.7%PS0.7x
DOW DowUS$34.3112.1%
+US$2.7b		-8.3%PS0.6x
CF CF Industries HoldingsUS$111.046.5%
+US$1.0b		44.0%PE11.7x
ICL ICL GroupUS$5.346.0%
+US$387.2m		-11.6%PE30.5x
CE CelaneseUS$51.453.5%
+US$309.4m		-5.1%PS0.6x

Latest News

LYB
US$66.82
LyondellBasell Industries
7D
15.4%
1Y
-12.7%
CF
US$111.04
CF Industries Holdings
7D
6.5%
1Y
44.0%

CF: Tighter Nitrogen Markets And DOJ Probe Will Pressure Future Returns

Analysts have nudged their average price target for CF Industries higher to $97.74 from $95.68, reflecting updated views on tighter near term nitrogen markets, geopolitical risks that could support pricing into 2026, and emerging interest in the company's low carbon ammonia exposure. Analyst Commentary Recent research shows a mix of optimism and caution on CF Industries, with several firms lifting price targets while keeping a close eye on nitrogen pricing, geopolitical risk, and the company’s execution on low carbon projects.
CENX
US$54.45
Century Aluminum
7D
6.0%
1Y
228.1%

CENX: Section 232 Tariffs And Oklahoma Smelter Project Will Drive Future Upside

Narrative Update: Century Aluminum Analyst Price Target Shift The analyst price target for Century Aluminum has moved from about $59 to roughly $63. Analysts point to stronger Q1 adjusted EBITDA guidance of $215 million to $235 million and expectations for solid cash generation supported by elevated Midwest Premiums ahead of new smelter capex in Oklahoma.
SCCO
US$190.64
Southern Copper
7D
-12.9%
1Y
123.6%

SCCO: Cash Generation And Richer Future P/E May Sustain Premium

The analyst price target for Southern Copper in our framework has increased from $218.00 to about $233.07. This reflects analysts balancing higher modeled revenue growth and a richer future P/E with recent target hikes, while also considering growing concerns about stretched valuation and near term operational pressure.
AMR
US$175.18
Alpha Metallurgical Resources
7D
6.1%
1Y
28.3%
DOW
US$34.31
Dow
7D
12.1%
1Y
-8.3%
AU
US$108.90
AngloGold Ashanti
7D
-15.1%
1Y
255.4%
NEM
US$116.96
Newmont
7D
-9.1%
1Y
176.0%

NEM: Higher Gold Assumptions And CEO Shift Will Still Face Execution Risk

The analyst price target for Newmont in our model has been raised by about $8 to $89.87, as analysts collectively lift their targets into the $150 range, citing a stronger gold outlook, refreshed leadership priorities, and updated metal price assumptions for 2026. Analyst Commentary Recent research on Newmont has centered on a cluster of higher price targets, with several firms adjusting their models around updated 2026 metal price assumptions, refreshed company guidance, and leadership changes.
AEM
US$224.75
Agnico Eagle Mines
7D
-10.9%
1Y
131.6%
ALTO
US$4.37
Alto Ingredients
7D
68.1%
1Y
212.1%
CE
US$51.45
Celanese
7D
3.5%
1Y
-5.1%
FCX
US$60.49
Freeport-McMoRan
7D
-11.4%
1Y
75.3%

FCX: Copper Price Tailwinds And Grasberg Clarity Will Guide Balanced Future Returns

Our updated analyst price target for Freeport-McMoRan moves from $64.02 to $66.47. This reflects a series of higher Street targets tied to stronger long-term copper price assumptions, improved clarity around the Grasberg asset, and refreshed models that point to a modestly higher future P/E of 24.48x, despite slightly lower forecast revenue growth and profit margins.
LIN
US$483.62
Linde
7D
-5.0%
1Y
4.7%
CRH
US$106.46
CRH
7D
-9.6%
1Y
13.5%

CRH: Index Additions And Buybacks Will Support Long Term Return Potential

Analysts have raised their price target on CRH to about $141.72 from roughly $140.46, citing updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E expectations. What's in the News CRH completed a share repurchase tranche between October 1, 2025 and December 31, 2025, buying 2,108,172 shares, or 0.31% of shares, for US$250.83m, bringing total repurchases under the March 2, 2023 program to 77,073,466 shares, or 10.76%, for US$5,284.35m (company announcement).
ECL
US$281.86
Ecolab
7D
-7.1%
1Y
6.1%

ECL: Fair Outlook As Sector Catalysts Meet Elevated Execution Risk

The analyst fair value estimate for Ecolab has shifted from about $296 to around $322 as analysts collectively raise price targets. This change reflects updated views on margin potential, valuation multiples, and the broader chemicals sector backdrop.
ICL
US$5.34
ICL Group
7D
6.0%
1Y
-11.6%