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U.S. Machinery Industry Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies185
  • 7D2.5%
  • 3M6.4%
  • 1Y56.8%
  • YTD8.2%

The Machinery industry is up 2.5% in the last week, with Caterpillar up 3.1%. This means that the industry has gained 57% over the past year. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

Has the U.S. Machinery Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026US$1.4tUS$451.5bUS$43.6b26.2x31.6x3.1x
Tue, 03 Mar 2026US$1.5tUS$450.0bUS$43.2b28.4x34.5x3.3x
Thu, 29 Jan 2026US$1.4tUS$449.6bUS$43.4b27.2x31.4x3x
Sat, 27 Dec 2025US$1.3tUS$450.8bUS$43.7b25.6x29.1x2.8x
Mon, 24 Nov 2025US$1.2tUS$449.1bUS$43.9b23.7x27.6x2.7x
Wed, 22 Oct 2025US$1.2tUS$445.5bUS$44.6b24.6x26.7x2.7x
Fri, 19 Sep 2025US$1.1tUS$447.0bUS$44.2b24.2x25.8x2.5x
Sun, 17 Aug 2025US$1.1tUS$446.8bUS$44.2b23.7x25.3x2.5x
Tue, 15 Jul 2025US$1.1tUS$449.5bUS$44.6b23.4x25.1x2.5x
Thu, 12 Jun 2025US$1.1tUS$449.1bUS$44.5b23.3x23.9x2.4x
Sat, 10 May 2025US$1.0tUS$451.6bUS$45.3b22.1x22.1x2.2x
Mon, 07 Apr 2025US$887.8bUS$457.1bUS$48.6b18.6x18.3x1.9x
Wed, 05 Mar 2025US$1.0tUS$458.2bUS$48.0b21.4x21.6x2.3x
Fri, 31 Jan 2025US$1.1tUS$462.7bUS$47.6b23.5x23.3x2.4x
Sun, 29 Dec 2024US$1.1tUS$467.6bUS$47.9b22.6x22x2.2x
Tue, 26 Nov 2024US$1.1tUS$467.6bUS$48.0b25.7x23.5x2.4x
Thu, 24 Oct 2024US$1.1tUS$474.1bUS$49.3b21.2x21.5x2.2x
Sat, 21 Sep 2024US$1.0tUS$474.2bUS$49.4b21.4x21.1x2.2x
Mon, 19 Aug 2024US$978.5bUS$474.2bUS$49.0b21.3x20x2.1x
Wed, 17 Jul 2024US$1.0tUS$476.7bUS$51.6b22x19.4x2.1x
Fri, 14 Jun 2024US$976.7bUS$477.0bUS$51.3b22.3x19x2x
Sun, 12 May 2024US$1.0tUS$479.5bUS$51.8b22.2x20x2.2x
Tue, 09 Apr 2024US$1.1tUS$478.2bUS$48.1b23.6x22.2x2.2x
Thu, 07 Mar 2024US$994.0bUS$477.3bUS$47.4b24.5x21x2.1x
Sat, 03 Feb 2024US$991.8bUS$485.3bUS$48.3b23.1x20.6x2x
Mon, 01 Jan 2024US$969.0bUS$484.8bUS$47.9b22.8x20.2x2x
Wed, 29 Nov 2023US$883.5bUS$484.0bUS$47.7b20.3x18.5x1.8x
Fri, 27 Oct 2023US$822.7bUS$478.0bUS$45.4b18.2x18.1x1.7x
Sun, 24 Sep 2023US$868.8bUS$475.0bUS$44.4b19.8x19.6x1.8x
Tue, 22 Aug 2023US$897.3bUS$475.1bUS$44.5b19.8x20.2x1.9x
Thu, 20 Jul 2023US$954.6bUS$459.8bUS$40.2b20.8x23.7x2.1x
Sat, 17 Jun 2023US$894.8bUS$460.9bUS$40.5b20.1x22.1x1.9x
Mon, 15 May 2023US$803.9bUS$456.5bUS$39.7b18.2x20.2x1.8x
Wed, 12 Apr 2023US$812.8bUS$444.6bUS$38.3b20.5x21.2x1.8x
Price to Earnings Ratio

21.2x


Total Market Cap: US$812.8bTotal Earnings: US$38.3bTotal Revenue: US$444.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Machinery Industry Price to Earnings3Y Average 22.8x202420252026
Current Industry PE
  • Investors are optimistic on the American Machinery industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 31.6x which is higher than its 3-year average PE of 22.8x.
  • The 3-year average PS ratio of 2.3x is lower than the industry's current PS ratio of 3.1x.
Past Earnings Growth
  • The earnings for companies in the Machinery industry have grown 4.5% 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 Trends

Which industries have driven the changes within the U.S. Industrials industry?

US Market3.46%
Industrials2.97%
Machinery2.47%
Construction Machinery and Vehicles3.76%
Industrial Machinery1.68%
Agricultural Machinery1.29%
Industry PE
  • Investors are most optimistic about the Industrial Machinery industry, which is trading close to its 3-year average PE ratio of 30.9x.
    • Analysts are expecting annual earnings growth of 15.3%, which is higher than its past year's earnings growth of 3.8% per year.
  • Investors are most pessimistic about the Agricultural Machinery industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 17.2x.
Forecasted Growth
  • Analysts are most optimistic on the Agricultural Machinery industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings decline of 22% per year.
  • In contrast, the Construction Machinery and Vehicles industry is expected to see its earnings grow by 15% 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
CAT CaterpillarUS$717.223.1%
+US$10.2b		149.0%PE37.6x
CMI CumminsUS$549.685.1%
+US$3.7b		98.0%PE26.7x
PCAR PACCARUS$118.324.9%
+US$2.9b		30.2%PE26.2x
PH Parker-HannifinUS$908.062.2%
+US$2.5b		75.6%PE32.4x
DE DeereUS$575.711.6%
+US$2.4b		33.9%PE32.3x

Latest News

CAT
US$717.22
Caterpillar
7D
3.1%
1Y
149.0%

Caterpillar: The Hidden AI Infrastructure Play Wall Street Is Finally Pricing In And It's Not Too Late

Apr 04
PH
US$908.06
Parker-Hannifin
7D
2.2%
1Y
75.6%

PH: Buybacks And 2026 Guidance Will Support A Constructive Long Term View

Analysts have made a small downward adjustment to the Parker Hannifin price target, trimming it by less than $1 to reflect slightly updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News Parker-Hannifin reported a buyback tranche update, repurchasing 92,199 shares, representing 0.07%, for US$75 million between October 1, 2025 and December 31, 2025, as part of the program announced on October 22, 2014 (Key Developments).
LNN
US$103.02
Lindsay
7D
-12.5%
1Y
-14.0%
CMI
US$549.68
Cummins
7D
5.1%
1Y
98.0%
TAYD
US$57.47
Taylor Devices
7D
-23.2%
1Y
83.3%
LECO
US$243.67
Lincoln Electric Holdings
7D
-1.7%
1Y
41.7%
IR
US$77.91
Ingersoll Rand
7D
-1.9%
1Y
11.8%

IR: Share Repurchases And Premium P/E Will Drive Attractive Future Returns

Analysts have lowered their price target for Ingersoll Rand by about $0.80 to reflect slightly updated inputs on fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News Ingersoll Rand issued earnings guidance for full year 2026, with expected revenue growth in a range of 2.5% to 4.5% (Key Developments).
SPXC
US$197.29
SPX Technologies
7D
-1.4%
1Y
61.3%
WAB
US$253.91
Westinghouse Air Brake Technologies
7D
5.3%
1Y
57.8%
OTIS
US$77.86
Otis Worldwide
7D
2.5%
1Y
-18.0%

OTIS: Service And Modernization Wins Will Support Bullish Post Q4 Outlook

Analysts have trimmed the Otis Worldwide fair value estimate by about $0.80 to $101.64, reflecting recent target cuts from firms lowering their elevator sector expectations, alongside mixed views on the stock after Q4 results and new coverage initiation. Analyst Commentary Recent research highlights a split in how analysts view Otis Worldwide, with some focusing on long term opportunities and others zeroing in on nearer term execution risks and valuation pressure.
CNH
US$10.65
CNH Industrial
7D
-0.7%
1Y
-0.7%

CNH: Cost Actions And Construction Review Will Support Post 2026 Margin Recovery

Analysts lifted their price target on CNH Industrial, with fair value edging up from $18.05 to $18.80, as updated models reflect higher assumed revenue growth, a slightly lower discount rate and a higher future P/E multiple, even as projected profit margins are set at a more cautious level. Analyst Commentary Recent research on CNH Industrial highlights a cluster of optimistic updates around the latest quarterly results, with several bullish analysts revisiting their models after the company issued 2026 guidance and discussed self help measures and portfolio options.
XYL
US$121.26
Xylem
7D
3.2%
1Y
15.9%
ITW
US$258.21
Illinois Tool Works
7D
-0.3%
1Y
14.5%
DOV
US$205.38
Dover
7D
-0.6%
1Y
33.8%

DOV: Short Cycle Recovery And 2026 Guidance Will Drive Balanced Outlook

Narrative Update on Dover The analyst price target for Dover has been adjusted by about $1 to align with a slightly higher fair value estimate of $231.71. This change reflects analysts' updated views on organic growth, margin potential, and short cycle recovery trends cited in recent research.
DE
US$575.71
Deere
7D
1.6%
1Y
33.9%
PCAR
US$118.32
PACCAR
7D
4.9%
1Y
30.2%

PCAR: Higher Margin Hopes Will Likely Struggle Against Truck Cycle Risk

Analysts have raised their average price target for PACCAR by several dollars into the low $120s, citing updated assumptions that include slightly stronger revenue growth, modestly higher profit margins, and revised P/E expectations reflected in recent target increases from major firms. Analyst Commentary Recent research has clustered around higher price targets for PACCAR, but not all of the commentary is unreservedly positive.