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U.S. Electronic Equipment and Instruments Industry Analysis

UpdatedApr 26, 2026
DataAggregated Company Financials
Companies99
  • 7D1.4%
  • 3M19.0%
  • 1Y65.7%
  • YTDn/a

Over the last 7 days, the Electronic Equipment and Instruments industry has risen 1.4%, driven by gains from Keysight Technologies of 3.8%. During this same period, the Itron underperformed, falling 10%. This means that the industry has gained 65% over the past year. As for the next few years, earnings are expected to grow by 22% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 26 Apr 2026US$178.4bUS$37.8bUS$1.7b31.8x106.9x4.7x
Tue, 24 Mar 2026US$156.5bUS$37.7bUS$1.6b32.1x95.9x4.2x
Thu, 19 Feb 2026US$159.0bUS$37.2bUS$1.4b31.1x109.7x4.3x
Sat, 17 Jan 2026US$151.1bUS$36.7bUS$2.9b31.8x52.6x4.1x
Mon, 15 Dec 2025US$161.6bUS$40.3bUS$3.1b29.3x51.7x4x
Wed, 12 Nov 2025US$157.2bUS$40.1bUS$2.8b29x55.1x3.9x
Fri, 10 Oct 2025US$162.9bUS$39.6bUS$2.6b27.9x61.5x4.1x
Sun, 07 Sep 2025US$158.3bUS$40.0bUS$2.5b26.2x62.3x4x
Tue, 05 Aug 2025US$154.9bUS$39.6bUS$3.9b25.4x39.5x3.9x
Thu, 03 Jul 2025US$154.1bUS$37.7bUS$3.6b27.1x42.6x4.1x
Sat, 31 May 2025US$139.8bUS$37.7bUS$3.6b26x38.9x3.7x
Mon, 28 Apr 2025US$124.2bUS$37.3bUS$3.6b22.4x34.9x3.3x
Wed, 26 Mar 2025US$137.4bUS$37.3bUS$3.6b25.5x38.1x3.7x
Fri, 21 Feb 2025US$148.7bUS$37.4bUS$3.6b27.6x41.1x4x
Sun, 19 Jan 2025US$148.1bUS$36.8bUS$3.5b25.8x42.7x4x
Tue, 17 Dec 2024US$147.7bUS$36.9bUS$3.4b27.2x43.2x4x
Thu, 14 Nov 2024US$145.9bUS$36.9bUS$3.7b26.9x39.4x4x
Sat, 12 Oct 2024US$135.8bUS$36.5bUS$3.5b29.3x38.6x3.7x
Mon, 09 Sep 2024US$124.1bUS$36.6bUS$3.5b24.4x35.2x3.4x
Wed, 07 Aug 2024US$118.4bUS$36.8bUS$2.1b25.2x56.1x3.2x
Fri, 05 Jul 2024US$126.8bUS$37.7bUS$2.2b25.4x57.1x3.4x
Sun, 02 Jun 2024US$128.4bUS$37.7bUS$2.2b27.2x57.3x3.4x
Tue, 30 Apr 2024US$126.8bUS$38.0bUS$2.3b27.6x56.3x3.3x
Thu, 28 Mar 2024US$132.4bUS$37.9bUS$2.2b27.1x59.2x3.5x
Sat, 24 Feb 2024US$126.9bUS$37.8bUS$2.2b26.2x57.9x3.4x
Mon, 22 Jan 2024US$131.1bUS$41.6bUS$2.3b25.7x56.4x3.2x
Wed, 20 Dec 2023US$134.1bUS$41.6bUS$2.3b26x57.6x3.2x
Fri, 17 Nov 2023US$117.2bUS$41.8bUS$2.4b21.1x49.2x2.8x
Sun, 15 Oct 2023US$117.0bUS$42.0bUS$2.4b20x49.2x2.8x
Tue, 12 Sep 2023US$125.1bUS$42.0bUS$2.4b20.5x52.7x3x
Thu, 10 Aug 2023US$131.2bUS$41.8bUS$2.5b23.5x52.1x3.1x
Sat, 08 Jul 2023US$132.8bUS$41.4bUS$2.2b23.8x61.5x3.2x
Mon, 05 Jun 2023US$131.2bUS$41.3bUS$2.2b24.7x60.1x3.2x
Wed, 03 May 2023US$119.2bUS$40.4bUS$2.4b24.7x49.6x2.9x
Price to Earnings Ratio

49.6x


Total Market Cap: US$119.2bTotal Earnings: US$2.4bTotal Revenue: US$40.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Electronic Equipment and Instruments Industry Price to Earnings3Y Average 53.8x202420252026
Current Industry PE
  • Investors are optimistic on the American Electronic Equipment and Instruments industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 106x which is higher than its 3-year average PE of 53.8x.
  • The 3-year average PS ratio of 3.6x is lower than the industry's current PS ratio of 4.7x.
Past Earnings Growth
  • The earnings for companies in the Electronic Equipment and Instruments industry have declined 12% per year over the last three years,
  • Revenues have also declined 2.3% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

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

US Market0.39%
Tech3.33%
Electronic Equipment and Components1.68%
Electronic Equipment and Instruments1.44%
Technology Distributors3.56%
Electronic Components1.86%
Electronic Manufacturing Services0.91%
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$346.963.8%
+US$2.2b		140.9%PE60.7x
TDY Teledyne TechnologiesUS$648.682.0%
+US$602.9m		41.4%PE32.2x
AEIS Advanced Energy IndustriesUS$387.243.1%
+US$442.6m		284.7%PE98.6x
LASR nLIGHTUS$75.797.6%
+US$299.0m		869.2%PS16.2x
OUST OusterUS$28.2216.3%
+US$248.7m		253.6%PS10.5x

Latest News

BMI
US$121.83
Badger Meter
7D
5.4%
1Y
-43.7%
TDY
US$648.68
Teledyne Technologies
7D
2.0%
1Y
41.4%

TDY: Space And Defense Programs Will Support 2027 P E Multiple Stability

Narrative Update: Teledyne Technologies The analyst price target for Teledyne Technologies has been revised slightly higher by $3 to reflect incremental adjustments to fair value, discount rate, and future P/E assumptions, as analysts factor in recent estimate updates, short cycle recovery commentary, and refreshed long-term models. Analyst Commentary Recent Street research on Teledyne Technologies has centered on updated models, refreshed guidance, and a series of higher price targets following company specific developments, including a Q4 beat, initial 2026 guidance, and an updated annual filing.
AEIS
US$387.24
Advanced Energy Industries
7D
3.1%
1Y
284.7%
OUST
US$28.22
Ouster
7D
16.3%
1Y
253.6%

Ouster: Positioned For Physical AI Growth, Despite Near-Term Losses

Apr 21
NOVT
US$134.10
Novanta
7D
4.1%
1Y
12.0%
ARLO
US$14.60
Arlo Technologies
7D
-3.9%
1Y
47.2%
LPTH
US$16.09
LightPath Technologies
7D
13.6%
1Y
634.7%

LPTH: Drone Supply Chain Role And Index Addition Will Shape Future Multiple

Narrative Update on LightPath Technologies The analyst price target for LightPath Technologies has moved higher, with recent Street research citing increased confidence around the company's inroads into the drone supply chain and updated growth assumptions. This has resulted in a revised fair value estimate of $14.00, supported by modestly higher forecast revenue growth and a slightly lower assumed future P/E multiple.
ZBRA
US$227.71
Zebra Technologies
7D
-2.9%
1Y
-7.5%

ZBRA: 2026 Automation Refocus And Buybacks Will Reset Risk Reward

The analyst price target for Zebra Technologies has been reduced by $18. Analysts attribute the change to updated assumptions around discount rates, future P/E multiples and Street research that includes both upward and downward revisions following recent quarterly updates.
VNT
US$36.16
Vontier
7D
-3.1%
1Y
15.5%
KEYS
US$346.96
Keysight Technologies
7D
3.8%
1Y
140.9%

AI Test Demand And Defense Modernization Will Eventually Restrain This Overstretched Outlook

Catalysts About Keysight Technologies Keysight Technologies provides test, measurement and software solutions that help customers design, validate and manufacture advanced electronic and communications systems. What are the underlying business or industry changes driving this perspective?
CGNX
US$54.26
Cognex
7D
-2.2%
1Y
107.4%
CXT
US$44.94
Crane NXT
7D
-3.1%
1Y
-3.6%

CXT: Higher Future P/E Multiple Is Expected To Support Upside

Narrative Update: Crane NXT The updated analyst price target for Crane NXT moves to $70.50 from $76.33, as analysts factor in softer expectations for SAT-related sales, lower estimated revenue growth and profit margins, and a higher assumed discount rate, partly offset by a higher future P/E multiple. Analyst Commentary Recent Street research on Crane NXT centers on reduced price targets and softer expectations for the SAT business, which feeds directly into updated views on revenue growth, margins, and valuation multiples.
RAL
US$44.63
Ralliant
7D
-5.8%
1Y
n/a
LASR
US$75.79
nLIGHT
7D
7.6%
1Y
869.2%

LASR: Directed Energy Defense Focus Will Drive Capacity And Revenue Expectations

The analyst price target for nLIGHT has been raised from $66.75 to $73.50 as analysts point to stronger expected revenue growth, supportive funding trends for directed energy platforms, and the company’s move toward a focused high power laser profile. Analyst Commentary Recent research highlights a cluster of optimistic views around nLIGHT, with several firms lifting price targets and initiating coverage with positive ratings.
OSIS
US$292.61
OSI Systems
7D
-5.5%
1Y
45.1%

OSIS: Order Pacing And Security Wins Will Shape Balanced Future Setup

Analysts have raised their price targets for OSI Systems by up to $20, citing steady mid year pacing and updated valuation work that reflects a slightly higher assumed future P/E and discount rate. Analyst Commentary Recent Street research on OSI Systems has focused on refreshed valuation work and the pacing of orders through mid year, leading to several price target increases and mixed views on the near term order backdrop.
ITRI
US$88.55
Itron
7D
-10.0%
1Y
-19.8%

ITRI: Grid Modernization And AMI 2.0 Cycle Will Support Long-Term Cash Flows

Narrative Update on Itron The analyst price target for Itron has been updated to $136.80. Analysts point to the company’s position in North American smart metering, expectations around the Advanced Metering Infrastructure 2.0 replacement cycle, and views on utilities' grid modernization and margin potential as key reasons for their outlook.