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U.S. Electronic Equipment and Instruments Industry Analysis

UpdatedDec 27, 2025
DataAggregated Company Financials
Companies101
  • 7D0.2%
  • 3M-1.0%
  • 1Y8.0%
  • YTDn/a

The Electronic Equipment and Instruments industry has been flat over the last week, but SMX (Security Matters) has lost 34%. The past year has been better, since the industry has gained 8.0% in that time. Looking forward, earnings are forecast to grow by 23% annually.

Industry Valuation and Performance

Has the U.S. Electronic Equipment and Instruments Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 27 Dec 2025US$161.9bUS$40.3bUS$3.1b29.9x51.8x4x
Mon, 24 Nov 2025US$147.5bUS$40.1bUS$2.8b27.3x52.6x3.7x
Wed, 22 Oct 2025US$162.3bUS$39.6bUS$2.7b28.4x61.2x4.1x
Fri, 19 Sep 2025US$160.7bUS$40.0bUS$2.6b27.3x62.8x4x
Sun, 17 Aug 2025US$157.4bUS$39.8bUS$2.7b25.4x57.8x4x
Tue, 15 Jul 2025US$157.2bUS$37.7bUS$3.6b26.2x43.2x4.2x
Thu, 12 Jun 2025US$144.5bUS$37.7bUS$3.6b27.1x40.1x3.8x
Sat, 10 May 2025US$131.4bUS$37.5bUS$3.5b25.6x37.2x3.5x
Mon, 07 Apr 2025US$111.9bUS$37.2bUS$3.6b19.9x31.4x3x
Wed, 05 Mar 2025US$137.4bUS$37.4bUS$3.6b23.9x38x3.7x
Fri, 31 Jan 2025US$150.0bUS$37.0bUS$3.3b26.9x44.8x4.1x
Sun, 29 Dec 2024US$144.7bUS$36.9bUS$3.4b25.8x42.4x3.9x
Tue, 26 Nov 2024US$147.9bUS$36.8bUS$3.4b29.1x43.5x4x
Thu, 24 Oct 2024US$135.0bUS$36.6bUS$3.6b29.2x37.7x3.7x
Sat, 21 Sep 2024US$134.1bUS$36.6bUS$3.5b26.6x38x3.7x
Mon, 19 Aug 2024US$127.4bUS$36.7bUS$3.6b22.7x35.9x3.5x
Wed, 17 Jul 2024US$134.2bUS$37.7bUS$2.2b28.2x60.4x3.6x
Fri, 14 Jun 2024US$127.4bUS$37.7bUS$2.2b25.8x56.9x3.4x
Sun, 12 May 2024US$129.9bUS$37.9bUS$2.4b27.8x54x3.4x
Tue, 09 Apr 2024US$130.2bUS$37.8bUS$2.3b28.3x57x3.4x
Thu, 07 Mar 2024US$129.4bUS$38.0bUS$2.3b26.2x57.1x3.4x
Sat, 03 Feb 2024US$131.7bUS$41.7bUS$2.4b25.6x53.8x3.2x
Mon, 01 Jan 2024US$135.5bUS$41.6bUS$2.3b26.5x58.3x3.3x
Wed, 29 Nov 2023US$120.1bUS$41.6bUS$2.3b22.5x52x2.9x
Fri, 27 Oct 2023US$110.3bUS$42.0bUS$2.4b18.7x45.8x2.6x
Sun, 24 Sep 2023US$121.1bUS$42.0bUS$2.4b19.3x50.9x2.9x
Tue, 22 Aug 2023US$126.4bUS$41.8bUS$2.3b22.2x53.8x3x
Thu, 20 Jul 2023US$138.3bUS$41.4bUS$2.2b24.3x63.2x3.3x
Sat, 17 Jun 2023US$133.2bUS$41.4bUS$2.2b24.8x61.1x3.2x
Mon, 15 May 2023US$122.8bUS$40.5bUS$2.0b24.2x62.8x3x
Wed, 12 Apr 2023US$125.5bUS$40.3bUS$2.5b26.1x50.6x3.1x
Fri, 10 Mar 2023US$124.7bUS$39.0bUS$2.3b27.3x54.4x3.2x
Sun, 05 Feb 2023US$137.6bUS$38.5bUS$2.3b29.9x60.2x3.6x
Tue, 03 Jan 2023US$118.0bUS$38.4bUS$2.2b26.6x52.9x3.1x
Price to Earnings Ratio

52.9x


Total Market Cap: US$118.0bTotal Earnings: US$2.2bTotal Revenue: US$38.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Electronic Equipment and Instruments Industry Price to Earnings3Y Average 50.6x20242025
Current Industry PE
  • Investors are relatively neutral on the American Electronic Equipment and Instruments 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 50.6x.
  • The 3-year average PS ratio of 3.5x is lower than the industry's current PS ratio of 4.0x.
Past Earnings Growth
  • The earnings for companies in the Electronic Equipment and Instruments industry have grown 12% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Comparison

How does U.S. Electronic Equipment and Instruments compare with similar industries?

US Market1.24%
Tech1.57%
Electronic Equipment and Components1.12%
Electronic Equipment and Instruments0.19%
Electronic Components1.84%
Electronic Manufacturing Services1.17%
Technology Distributors-0.094%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
KEYS Keysight TechnologiesUS$206.041.8%
+US$613.4m		26.5%PE40.7x
TDY Teledyne TechnologiesUS$517.351.4%
+US$344.6m		9.7%PE29.7x
NOVT NovantaUS$122.722.8%
+US$120.6m		-20.7%PE83.1x
OSIS OSI SystemsUS$269.822.0%
+US$89.8m		57.5%PE30.1x
UMAC Unusual MachinesUS$12.2124.0%
+US$87.0m		-28.0%PS54.2x

Latest News

UMAC
US$12.21
Unusual Machines
7D
24.0%
1Y
-28.0%
KEYS
US$206.04
Keysight Technologies
7D
1.8%
1Y
26.5%

KEYS: Future Returns Will Depend On AI Demand And Cycle Normalization

Analysts have nudged our Keysight Technologies fair value estimate higher, lifting the price target by about $4 to roughly $220. They point to stronger than expected margins, an emerging growth inflection supported by AI infrastructure demand, and signs that cyclical headwinds in wireless and defense are easing.
LPTH
US$9.02
LightPath Technologies
7D
18.1%
1Y
158.5%

LPTH: Record Backlog And Major Orders Will Drive Stronger Earnings Power

Analysts have raised their price target on LightPath Technologies to $11 from $7, citing faster projected revenue growth, expanding margins and a robust, potentially transformational backlog that supports stronger long term earnings power. Analyst Commentary Bullish analysts are coalescing around a higher valuation framework for LightPath Technologies, pointing to accelerating demand trends, a swelling backlog and evidence that the company is successfully moving up the value chain into higher margin systems and solutions.
INVZ
US$0.95
Innoviz Technologies
7D
-19.2%
1Y
-47.0%
NOVT
US$122.72
Novanta
7D
2.8%
1Y
-20.7%

NOVT: New Equity Raise Will Strengthen Balance Sheet And Support Future Deals

Analysts have maintained their price target for Novanta at approximately $154 per share. This reflects a steady outlook, as incremental adjustments to discount rate assumptions and long term growth and profitability estimates are viewed as too minor to warrant a change in fair value.
TDY
US$517.35
Teledyne Technologies
7D
1.4%
1Y
9.7%
TRMB
US$80.20
Trimble
7D
-0.8%
1Y
12.6%
RAL
US$51.49
Ralliant
7D
-1.5%
1Y
n/a
CGNX
US$36.55
Cognex
7D
-0.7%
1Y
1.4%

CGNX: EBITDA Recovery And Cost Cuts Will Drive Strong Share Upside

Analysts have raised their price target on Cognex to a range centered around approximately $55, up from the prior mid $30s to low $40s range. They cite expectations for stronger revenue growth, higher profit margins, and a robust EBITDA recovery supported by disciplined expense management and sustained R&D investment.
LASR
US$39.20
nLIGHT
7D
4.0%
1Y
274.8%

LASR: Q4 Outlook Suggests Gradual Improvement With Balanced Long Term Prospects

Analysts have modestly raised their price target on nLIGHT, citing a slightly higher fair value estimate of 41.86 dollars from 41.50 dollars. This change is supported by marginal improvements in projected revenue growth and a lower discount rate, which together imply a somewhat richer long term earnings outlook.
EVLV
US$6.66
Evolv Technologies Holdings
7D
-7.6%
1Y
67.8%
ZBRA
US$246.27
Zebra Technologies
7D
-2.1%
1Y
-36.7%

ZBRA: Tariff Headwinds Will Ease After 2025 Supporting Margin Recovery

Analysts have modestly lowered their average price target on Zebra Technologies, trimming expectations by a few dollars per share to reflect concerns about slowing organic growth and a cautious extrapolation of the latest Q4 guidance into the medium term. Analyst Commentary Recent Street research on Zebra Technologies reflects a mixed but generally constructive stance, with pricing adjustments fine tuning expectations rather than signaling a wholesale change in the underlying thesis.
FEIM
US$56.29
Frequency Electronics
7D
17.0%
1Y
189.9%

Frequency Electronics, Inc. Just Missed Earnings - But Analysts Have Updated Their Models

Dec 18
Frequency Electronics, Inc. Just Missed Earnings - But Analysts Have Updated Their Models
AEVA
US$13.22
Aeva Technologies
7D
-7.5%
1Y
177.1%
OSIS
US$269.82
OSI Systems
7D
2.0%
1Y
57.5%

OSIS: Future Upside Will Depend On Sustained U.S. Border Security Spending

Analysts have nudged their price target on OSI Systems higher toward the low to mid $300s, citing raised long term earnings estimates and strengthening demand tied to increased U.S. border security spending. Analyst Commentary Recent Street research on OSI Systems reflects a predominantly constructive stance, with rising price targets framed around upward revisions to long term earnings power and a robust demand outlook tied to U.S. border security initiatives.
SMX
US$116.41
SMX (Security Matters)
7D
-33.9%
1Y
-99.5%