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U.S. Materials Sector Analysis

UpdatedApr 22, 2026
DataAggregated Company Financials
Companies446
  • 7D-1.9%
  • 3M2.0%
  • 1Y37.8%
  • YTD13.0%

Over the last 7 days, the Materials industry has dropped 1.9%, driven by a pullback from Agnico Eagle Mines of 4.8%. Meanwhile, Nucor actually outperformed within the industry, gaining 13% in the last week. This takes the industry's 12 month performance to a gain of 38%. 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
Thu, 23 Apr 2026US$2.0tUS$841.9bUS$43.1b21.9x46.8x2.4x
Sat, 21 Mar 2026US$1.8tUS$845.8bUS$43.6b19.6x41.3x2.1x
Mon, 16 Feb 2026US$2.1tUS$849.0bUS$40.9b24.6x50.2x2.4x
Wed, 14 Jan 2026US$1.9tUS$853.2bUS$46.1b25.3x41.3x2.2x
Fri, 12 Dec 2025US$1.7tUS$852.8bUS$45.9b23.5x36.6x2x
Sun, 09 Nov 2025US$1.6tUS$851.2bUS$45.5b22.9x35.3x1.9x
Tue, 07 Oct 2025US$1.7tUS$835.9bUS$47.0b24.3x36.2x2x
Thu, 04 Sep 2025US$1.7tUS$837.9bUS$47.3b23.6x35.1x2x
Sat, 02 Aug 2025US$1.6tUS$842.5bUS$47.5b20.8x32.8x1.8x
Mon, 30 Jun 2025US$1.6tUS$837.4bUS$48.4b22.1x32.2x1.9x
Wed, 28 May 2025US$1.5tUS$852.8bUS$47.6b21.2x32x1.8x
Fri, 25 Apr 2025US$1.5tUS$865.4bUS$56.5b19.7x26x1.7x
Sun, 23 Mar 2025US$1.5tUS$869.1bUS$53.9b21.4x28.5x1.8x
Tue, 18 Feb 2025US$1.6tUS$870.1bUS$49.6b21.2x32.5x1.9x
Thu, 16 Jan 2025US$1.5tUS$873.2bUS$49.2b19.8x31.4x1.8x
Sat, 14 Dec 2024US$1.6tUS$876.2bUS$49.7b21.3x32.6x1.9x
Mon, 11 Nov 2024US$1.7tUS$878.4bUS$50.3b21.9x33.7x1.9x
Wed, 09 Oct 2024US$1.7tUS$875.6bUS$50.5b21.2x33.4x1.9x
Fri, 06 Sep 2024US$1.6tUS$870.6bUS$49.8b20.9x32x1.8x
Sun, 04 Aug 2024US$1.6tUS$870.9bUS$50.0b20.1x31.6x1.8x
Tue, 02 Jul 2024US$1.5tUS$873.5bUS$50.1b19.6x30.8x1.8x
Thu, 30 May 2024US$1.6tUS$871.4bUS$50.3b21.3x31.9x1.8x
Sat, 27 Apr 2024US$1.6tUS$879.2bUS$51.8b16.7x30.3x1.8x
Mon, 25 Mar 2024US$1.6tUS$880.3bUS$52.1b17.4x30.5x1.8x
Wed, 21 Feb 2024US$1.5tUS$874.5bUS$56.2b19.1x26.1x1.7x
Fri, 19 Jan 2024US$1.4tUS$905.6bUS$63.6b17.6x22.6x1.6x
Sun, 17 Dec 2023US$1.5tUS$906.1bUS$63.0b17.8x23.4x1.6x
Tue, 14 Nov 2023US$1.3tUS$908.4bUS$63.7b14.8x20.9x1.5x
Thu, 12 Oct 2023US$1.3tUS$894.2bUS$63.5b13.6x20.7x1.5x
Sat, 09 Sep 2023US$1.3tUS$889.7bUS$62.9b13.5x21.4x1.5x
Mon, 07 Aug 2023US$1.4tUS$889.4bUS$63.6b14.7x21.8x1.6x
Wed, 05 Jul 2023US$1.4tUS$936.0bUS$76.9b13.9x18.1x1.5x
Fri, 02 Jun 2023US$1.3tUS$934.7bUS$77.1b12.5x16.5x1.4x
Sun, 30 Apr 2023US$1.4tUS$937.3bUS$81.9b12.7x16.6x1.4x
Price to Earnings Ratio

16.6x


Total Market Cap: US$1.4tTotal Earnings: US$81.9bTotal Revenue: US$937.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Materials Sector Price to Earnings3Y Average 32.6x202420252026
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 46.8x which is higher than its 3-year average PE of 32.6x.
  • The 3-year average PS ratio of 2.0x 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 3.6% 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 Market1.31%
Materials-1.94%
Chemicals-0.53%
Basic Materials-1.14%
Packaging-1.18%
Metals and Mining-3.60%
Paper and Forestry Products-4.72%
Industry PE
  • Investors are most optimistic about the Chemicals industry which is trading above its 3-year average PE ratio of 46.4x.
    • Analysts are expecting annual earnings growth of 20.9%, which is higher than its past year's earnings decline of 2.5% 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
NUE NucorUS$214.2613.0%
+US$5.6b		91.4%PE28.1x
STLD Steel DynamicsUS$227.4617.2%
+US$4.8b		85.7%PE24x
FCX Freeport-McMoRanUS$70.362.4%
+US$2.4b		99.9%PE46x
MP MP MaterialsUS$69.1916.2%
+US$1.7b		202.3%PS44.6x
RS RelianceUS$350.879.7%
+US$1.6b		23.9%PE24.3x

Latest News

USAR
US$22.85
USA Rare Earth
7D
34.5%
1Y
122.9%

USA Rare Earth: The Thesis Just Got So Much More Bullish

Apr 22
STLD
US$227.46
Steel Dynamics
7D
17.2%
1Y
85.7%
AEM
US$204.07
Agnico Eagle Mines
7D
-4.8%
1Y
72.6%
RGLD
US$251.54
Royal Gold
7D
-6.8%
1Y
39.3%
SCCO
US$187.71
Southern Copper
7D
-0.8%
1Y
111.1%

Update On Southern Copper- The Bullish Trend Continues

Apr 21
ALB
US$194.22
Albemarle
7D
4.8%
1Y
249.1%

Albemarle: BESS Demand May Make This The Last Lithium Cycle That Looks Like A Cycle

Apr 21
MP
US$69.19
MP Materials
7D
16.2%
1Y
202.3%

MP Materials (MP): The Rare Earth Fortress and the "Mine-to-Magnet" Transition

MP Materials (MP) , the operator of Mountain Pass and the only fully integrated rare earth producer in the Western Hemisphere, enters Tuesday, April 21, 2026 , amidst a powerful technical breakout. Trading at $66.70 USD —a sharp 9.36% surge for the session—the stock is rapidly distancing itself from its $18.64 cyclical bottom.
NEM
US$111.85
Newmont
7D
-1.1%
1Y
110.4%

NEM: Higher Diesel Costs Will Pressure Margins Despite Gold Price Optimism

The analyst price target for Newmont has been adjusted slightly higher to reflect updated assumptions around profit margins and a lower future P/E, even as recent Street research has featured both target hikes and cuts tied to changing views on gold prices, the new CEO's agenda, and input costs such as diesel. Analyst Commentary Recent research on Newmont reflects a mix of optimism and caution, with several bearish analysts flagging risks around costs, execution, and valuation.
IP
US$33.33
International Paper
7D
-8.7%
1Y
-28.7%
FCX
US$70.36
Freeport-McMoRan
7D
2.4%
1Y
99.9%

FCX: Copper Strength And Grasberg Agreement Will Drive More Skewed Upside Outlook

Freeport-McMoRan's updated analyst price target moves from $70 to $81, with analysts pointing to revised metal price forecasts, higher assumed revenue growth, stronger profit margins, and recent positive views on copper demand and Grasberg asset clarity as key drivers behind the change. Analyst Commentary Recent Street research on Freeport-McMoRan shows a cluster of bullish revisions, with several firms lifting price targets and upgrading ratings while only a few have trimmed targets or turned more cautious.
CTVA
US$79.35
Corteva
7D
-2.4%
1Y
29.9%
AU
US$98.87
AngloGold Ashanti
7D
-5.4%
1Y
143.7%

AU: Rich P/E And Costly Nevada Project Will Likely Restrain Future Returns

Analysts have kept their price target for AngloGold Ashanti steady at $75.00, citing updated assumptions that reflect a slightly higher discount rate and lower revenue growth, along with a stronger profit margin profile and a modestly lower future P/E multiple. What's in the News Completed a Technical Report Summary for the Arthur Gold Project in Nevada, outlining a Tier One gold deposit with an initial nine year mine life and average annual production of about 500,000 oz of gold, supported by a first time Probable Mineral Reserve of 4.9 Moz of contained gold and 7.8 Moz of contained silver as at 31 December 2025 (Key Developments).
NUE
US$214.26
Nucor
7D
13.0%
1Y
91.4%

Nucor: Premier Steelmaker But Time To Take A Little Off The Table

Apr 12
LIN
US$494.62
Linde
7D
-0.7%
1Y
10.4%

LIN: Pricing Power And Capital Returns Will Shape Helium And Inflation Response

The analyst price target for Linde has been revised higher, with fair value moving from $503.52 to $516.41 as analysts factor in updated views on helium market pressure, pricing power, and the company’s positioning relative to other materials names. Analyst Commentary Recent Street research on Linde shows a mix of optimism and caution, with several firms adjusting price targets and ratings based on views of helium supply, pricing power, and how the company compares with other materials names.
RS
US$350.87
Reliance
7D
9.7%
1Y
23.9%
SHW
US$335.15
Sherwin-Williams
7D
1.9%
1Y
1.2%

SHW: Fair Valuation Balances Execution Risks With Dividend And Buyback Support

Analysts have trimmed Sherwin-Williams' fair value estimate by about $3 to $317.76, reflecting recent cuts to Street price targets along with updated assumptions for discount rate, revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent Street research on Sherwin-Williams shows a shift in tone, with several bearish analysts cutting price targets and questioning how much upside is left at current valuations.