Industrials

Aerospace, defense, manufacturing, transportation, and logistics

Sector classifications follow the GICS industry standard.

Companies Analyzed28 / 30in this sector

Avg FCF Margin12.3%

Top PerformerVRSK31.9%

Avg Debt/FCF5.2xacross 27 companies

FCF Margin Rankings

Companies ranked by free cash flow margin

Grade Distribution

Health grades across the sector

A14 (50%)

B4 (14%)

C4 (14%)

D1 (4%)

F5 (18%)

All Companies

#	Symbol	Grade	FCF Margin	Cash Conv.	Trend	Debt/FCF	Revenue	FCF
1	VRSK	A	31.9%	119.5%	improving	3.5x	$2.9B	$920.1M
2	UNP	B	22.4%	130.1%	declining	6.0x	$24.5B	$5.5B
3	CSX	C	18.7%	151.2%	declining	7.0x	$14.5B	$2.7B
4	NSC	A	17.7%	151.8%	improving	8.0x	$12.2B	$2.2B
5	PH	A	16.8%	106.9%	stable	2.8x	$19.9B	$3.3B
6	ROK	A	16.3%	177.7%	declining	2.7x	$8.3B	$1.4B
7	GE	A	15.8%	98.1%	improving	2.8x	$45.9B	$7.3B
8	UBER	A	15.7%	72.4%	stable	1.6x	$44.0B	$6.9B
9	ODFL	A	15.3%	139.9%	improving	0.1x	$5.8B	$888.0M
10	EMR	B	14.8%	135.1%	declining	5.2x	$18.0B	$2.7B
11	ETN	A	14.1%	114.0%	stable	2.8x	$24.9B	$3.5B
12	CAT	A	13.6%	111.5%	stable	4.4x	$64.8B	$8.8B
13	LYFT	A	13.2%	—	improving	1.5x	$5.8B	$766.3M
14	TT	A	13.2%	109.5%	improving	1.6x	$21.3B	$2.8B
15	HON	A	12.8%	106.9%	improving	6.5x	$38.5B	$4.9B
16	FAST	A	12.8%	103.0%	improving	0.4x	$8.2B	$1.1B
17	WM	C	11.2%	223.2%	improving	8.1x	$25.2B	$2.8B
18	LMT	A	9.2%	170.6%	improving	3.1x	$75.0B	$6.9B
19	PCAR	B	8.6%	111.5%	improving	5.5x	$33.7B	$2.9B
20	RTX	C	8.4%	157.0%	improving	5.3x	$88.6B	$7.4B
21	NOC	C	7.9%	113.7%	improving	5.1x	$42.0B	$3.3B
22	GD	D	7.5%	121.6%	declining	2.5x	$52.5B	$4.0B
23	DE	F	7.2%	148.4%	declining	19.9x	$44.7B	$3.2B
24	CMI	B	7.1%	127.4%	improving	3.4x	$33.7B	$2.4B
25	MMM	F	5.6%	71.0%	declining	9.0x	$24.9B	$1.4B
26	JCI	F	4.1%	42.5%	improving	10.2x	$23.6B	$965.0M
27	FDX	F	3.4%	171.9%	improving	12.6x	$87.9B	$3.0B
28	BA	F	-2.1%	47.7%	improving	N/A	$89.5B	-$1.9B

Not Yet Analyzed

Run the analyzer on these tickers to see their grades

UPSITW

Sector Research

All research →

Sector Report4 min read

Industrials: 12 A-Grades Hiding a Debt Problem

The industrials sector looks healthy on the surface — 12 A-grades, 62% of companies improving — but the 6.5x average debt-to-FCF ratio tells a different story. When airlines and legacy manufacturers burn through cash, the sector's balance sheet fragility shows.

Feb 13, 2026

VRSKUNPCSXNSC+10