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U.S. Electronic Manufacturing Services Industry Analysis

UpdatedMar 09, 2026
DataAggregated Company Financials
Companies26
  • 7D-10.0%
  • 3M-4.6%
  • 1Y64.0%
  • YTDn/a

Over the last 7 days, the Electronic Manufacturing Services industry has dropped 10.0%, driven by Fabrinet declining 16%. Meanwhile, Forward Industries actually outperformed within the industry, gaining 7.3% in the last week. In the past year, the industry has gained 64%. Looking forward, earnings are forecast to grow by 20% annually.

Industry Valuation and Performance

Has the U.S. Electronic Manufacturing Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Mar 2026US$156.3bUS$103.7bUS$3.9b29.2x40x1.5x
Thu, 05 Feb 2026US$166.9bUS$103.5bUS$4.4b31.3x37.6x1.6x
Sat, 03 Jan 2026US$157.1bUS$100.6bUS$4.2b32.3x37.1x1.6x
Mon, 01 Dec 2025US$155.2bUS$99.3bUS$4.4b31.9x35.6x1.6x
Wed, 29 Oct 2025US$158.4bUS$98.0bUS$3.7b31.3x42.9x1.6x
Fri, 26 Sep 2025US$148.3bUS$98.0bUS$3.7b35.1x40.2x1.5x
Sun, 24 Aug 2025US$135.4bUS$96.7bUS$3.6b34.8x37.7x1.4x
Tue, 22 Jul 2025US$129.1bUS$95.8bUS$3.4b26.8x37.8x1.3x
Thu, 19 Jun 2025US$114.7bUS$95.8bUS$3.4b25.7x33.9x1.2x
Sat, 17 May 2025US$107.9bUS$94.8bUS$3.3b25.3x32.8x1.1x
Mon, 14 Apr 2025US$85.3bUS$94.1bUS$4.0b20.4x21.6x0.9x
Wed, 12 Mar 2025US$94.0bUS$94.3bUS$4.7b22.1x20x1x
Fri, 07 Feb 2025US$104.3bUS$94.4bUS$4.7b23.9x22x1.1x
Sun, 05 Jan 2025US$102.1bUS$94.0bUS$5.9b26.4x17.4x1.1x
Tue, 03 Dec 2024US$103.5bUS$95.4bUS$5.9b27.9x17.5x1.1x
Thu, 31 Oct 2024US$101.3bUS$95.8bUS$5.9b23.2x17x1.1x
Sat, 28 Sep 2024US$99.0bUS$95.8bUS$6.2b23.5x15.9x1x
Mon, 26 Aug 2024US$99.6bUS$97.4bUS$6.3b22.2x15.9x1x
Wed, 24 Jul 2024US$98.9bUS$98.6bUS$6.2b20.5x16x1x
Fri, 21 Jun 2024US$100.4bUS$100.4bUS$6.3b19.9x15.8x1x
Sun, 19 May 2024US$98.6bUS$100.4bUS$6.4b20.8x15.5x1x
Tue, 16 Apr 2024US$94.2bUS$104.3bUS$6.5b14.5x14.6x0.9x
Thu, 14 Mar 2024US$98.5bUS$105.7bUS$5.7b16.5x17.2x0.9x
Sat, 10 Feb 2024US$98.3bUS$105.7bUS$5.6b15.8x17.4x0.9x
Mon, 08 Jan 2024US$91.0bUS$107.0bUS$4.3b17.3x21.1x0.9x
Wed, 06 Dec 2023US$88.7bUS$108.3bUS$4.4b14.7x20.1x0.8x
Fri, 03 Nov 2023US$86.2bUS$108.4bUS$4.4b16.4x19.6x0.8x
Sun, 01 Oct 2023US$89.8bUS$109.3bUS$4.7b17.1x19.2x0.8x
Tue, 29 Aug 2023US$88.5bUS$109.9bUS$4.9b16.6x18.2x0.8x
Thu, 27 Jul 2023US$96.3bUS$109.6bUS$4.9b16.3x19.6x0.9x
Sat, 24 Jun 2023US$90.7bUS$109.7bUS$5.0b15.2x18.3x0.8x
Mon, 22 May 2023US$82.5bUS$109.6bUS$5.0b14.1x16.6x0.8x
Wed, 19 Apr 2023US$83.2bUS$108.0bUS$5.1b15.1x16.3x0.8x
Fri, 17 Mar 2023US$82.1bUS$107.4bUS$5.1b16.7x16x0.8x
Price to Earnings Ratio

16x


Total Market Cap: US$82.1bTotal Earnings: US$5.1bTotal Revenue: US$107.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Electronic Manufacturing Services Industry Price to Earnings3Y Average 23.5x202420252026
Current Industry PE
  • Investors are optimistic on the American Electronic Manufacturing Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 40.0x which is higher than its 3-year average PE of 23.5x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Electronic Manufacturing Services industry have declined 8.7% 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 Comparison

How does U.S. Electronic Manufacturing Services compare with similar industries?

US Market-2.17%
Tech-0.39%
Electronic Equipment and Components-10.05%
Electronic Manufacturing Services-9.99%
Technology Distributors-1.71%
Electronic Equipment and Instruments-7.06%
Electronic Components-12.60%
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
FWDI Forward IndustriesUS$4.837.3%
+US$27.4m		26.4%PS11.5x

Latest News

FN
US$489.38
Fabrinet
7D
-15.8%
1Y
160.5%
SANM
US$123.00
Sanmina
7D
-13.6%
1Y
66.6%

SANM: Higher Long-Term P/E And Energy Expansion Will Support Bullish Outlook

Analysts have raised their Sanmina price targets by $10 to $30, citing updated views on the company’s discount rate and long-term P/E assumptions that support a revised valuation framework. Analyst Commentary Bullish Takeaways Bullish analysts see the higher price targets as better aligned with an updated discount rate and P/E framework, which they argue provides a more consistent approach to valuing Sanmina over the long term.
TTMI
US$87.91
TTM Technologies
7D
-22.2%
1Y
301.6%

TTMI: Radar And Data Center Demand Will Support Future Margins

Analysts have increased their blended 12 month price target on TTM Technologies by $36 to $118.50, citing updated views on discount rates, revenue growth, profit margins, and future P/E assumptions. Analyst Commentary Street research around TTM Technologies has centered on how updated assumptions on discount rates, revenue trajectory, profit margins, and future P/E multiples flow through to valuation.
TEL
US$205.85
TE Connectivity
7D
-2.9%
1Y
39.0%

TEL: Future Buybacks And Margins Will Likely Keep Shares Fairly Priced

Analysts have adjusted their price target for TE Connectivity to $211.17, reflecting fine tuning to revenue growth, profit margin and future P/E assumptions that are now slightly higher or lower than before but remain broadly consistent with prior expectations. What's in the News Between September 27, 2025 and December 26, 2025, TE Connectivity repurchased 1,755,790 shares, about 0.6% of its shares, for $405.69m under its ongoing buyback program (Key Developments).
IPGP
US$120.70
IPG Photonics
7D
-10.7%
1Y
96.2%

IPGP: Defense And Industrial Laser Demand Will Support Higher Long Term Earnings Power

Narrative Update on IPG Photonics The analyst price target for IPG Photonics has been raised by $73, with supporting research pointing to updated assumptions for discount rates, revenue growth, profit margins, and future P/E. Several firms have recently lifted their targets, although opinions on the stock's rating remain mixed.
JBL
US$241.09
Jabil
7D
-7.7%
1Y
80.8%
FLEX
US$59.91
Flex
7D
-8.5%
1Y
82.0%

FLEX: Liquid Cooling Execution Will Support AI Data Center Upside Repricing

Analysts have raised their average price target on Flex by $1, reflecting recent positive research attention and updated assumptions around discount rates, revenue, profit margins, and forward P/E expectations. Analyst Commentary Bullish analysts see the latest price target move as a reflection of improved confidence in Flex's ability to execute against updated assumptions on discount rates, revenue trends, profit margins, and forward P/E.
PLXS
US$185.90
Plexus
7D
-4.7%
1Y
53.5%

PLXS: Higher Earnings Assumptions And Buybacks May Sustain Sideways Trading

Narrative Update on Plexus The analysts’ average price target for Plexus has increased by a combined $105 in recent reports, reflecting updated assumptions for discount rates, revenue growth, profit margins, and a slightly lower future P/E multiple. Analyst Commentary Recent Street research on Plexus centers on higher price targets, with analysts updating their models around discount rates, revenue expectations, margin assumptions, and a slightly lower future P/E multiple.
FWDI
US$4.83
Forward Industries
7D
7.3%
1Y
26.4%