PH vs ROK: Which Is the Better Buy in 2026?
Last updated October 2026
Short answer
PH is the larger of the two ($121.49B market cap): the incumbent the market prices for continued execution (24.26x forward earnings, beta 1.12). ROK is the smaller challenger ($47.33B), actually pricier on forward earnings (28.58x): more room to run, but more to prove. The real question is which set of drivers you believe, and whether owning one (or both) leaves you over-concentrated.
PH vs ROK: the tie-breaker metrics
Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | PH | ROK | What it tells you |
|---|---|---|---|
| Market cap | $121.49B | $47.33B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 24.26 | 28.58 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Trailing P/E | 33.83 | 39.91 | Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price. |
| Beta | 1.12 | 1.50 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 64% of range | 54% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 7.89 | 13.55 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: PH is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how PH and ROK affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. PH and ROK share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined PH and ROK exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Parker Hannifin (PH) do?
Parker Hannifin makes motion and control technologies: hydraulics, pneumatics, filtration, sealing and electromechanical systems used across industrial machinery and aerospace. Its customers range from machine builders, mobile equipment makers and process industries to commercial and defence aircraft programs, and a large share of revenue comes from replacement parts and aftermarket service on equipment already in the field.
What does Rockwell Automation (ROK) do?
Rockwell Automation (ROK) is one of the largest pure-play industrial automation and digital transformation companies in the world. It provides the hardware, software, and services that factories and industrial facilities use to run, monitor, and optimize their operations: programmable logic controllers, drives, motor control, sensors, industrial networking, and the Allen-Bradley and FactoryTalk product families that are standards in many North American plants. Rockwell organizes its business around Intelligent Devices, Software and Control, and Lifecycle Services, and increasingly pairs its installed base of automation hardware with software, analytics, and recurring services. A long partnership with software firms and its acquisitions in areas like manufacturing-execution software, cybersecurity, and information solutions position it to sell connected, data-driven factory systems, not just discrete controllers. Founded in 1903 and headquartered in Milwaukee, Wisconsin, Rockwell is an S&P 500 industrial that benefits from secular trends in reshoring, factory modernization, and the digitization of manufacturing, while remaining tied to the capital-spending cycles of its industrial customers.
PH vs ROK: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- PH drivers: Aerospace is now a major earnings engine; Aftermarket and replacement demand.
- ROK drivers: Installed base and switching costs; Software, recurring revenue, and analytics.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Industrial demand is cyclical and tracks capital spending, manufacturing output and construction. For ROK, rockwell's results are tied to industrial and manufacturing capital-spending cycles, so demand can soften in downturns or when customers delay projects, and orders can be lumpy.
PH or ROK: which should you pick?
Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick PH if you believe its drivers more; ROK if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the PH and ROK guides.
PH vs ROK: the full fundamentals
PH. Parker is a diversified industrial whose story in recent years has been margin expansion and the aerospace mix shift rather than rapid revenue growth. At $965.76 in mid-October 2026 the market pays about 24 times forward earnings for that record, with consensus calling for fiscal 2027 EPS of about $35.52 on revenue near $24.7 billion. The fiscal Q1 2027 report, expected around November 5 with consensus EPS of about $8.17, is the next check on whether 5.5-8.5% sales growth guidance holds.
ROK. Rockwell trades at a premium multiple relative to the broader industrials group, a gap explained by its pure-play automation focus, strong installed-base moat, and growing software mix: ~40 times trailing GAAP earnings, ~29 times forward estimates and ~24 times EV/EBITDA as of October 16, 2026. The trailing multiple overstates the premium because GAAP earnings are still recovering from fiscal 2025; on analysts' fiscal 2027 estimate of ~$14.92 the stock is near 29 times. The 25 analysts tracked carry a mean target near $476, and the fiscal fourth-quarter report expected around November 5, 2026 is the next catalyst for the multiple.
Headline figures (approximate, October 2026): PH shows revenue (fiscal 2026) ~$21.5 billion, +9.8% yoy in the June quarter, net income (fiscal 2026) ~$3.65 billion (~17% net margin, ~23% operating margin), eps (q4 fy2026 vs estimate) $9.27 vs ~$8.27 (adjusted), p/e (trailing / forward) ~34x / ~24x; ROK shows revenue (ttm) ~$8.97 billion (June 2026 quarter up ~8% year over year), margins (ttm) ~49% gross, ~21% operating, ~13% net, net income (ttm) ~$1.2 billion; trailing EPS ~$10.68, adjusted eps, june 2026 quarter $3.49 vs ~$3.38 consensus.
The bottom line: PH vs ROK
PH and ROK are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined PH and ROK exposure against your real portfolio. It is not an investment adviser.
Wondering how PH or ROK fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Parker Hannifin with AI
Connect the broker you already use and ask Walnut's AI how PH fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between PH and ROK?
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Parker Hannifin makes motion and control technologies: hydraulics, pneumatics, filtration, sealing and electromechanical systems used across industrial machinery and aerospace. Rockwell Automation (ROK) is one of the largest pure-play industrial automation and digital transformation companies in the world. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is PH or ROK the better stock?
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Neither is universally better. PH is the larger incumbent; ROK is the smaller challenger and looks pricier on forward earnings. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, PH or ROK?
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On forward P/E (as of October 2026), PH trades at 24.26x and ROK at 28.58x, so PH is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both PH and ROK?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of PH vs ROK?
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PH: Industrial demand is cyclical and tracks capital spending, manufacturing output and construction. The Meggitt acquisition added meaningful debt, and Parker still carries about $8.7 billion of debt against about $0.5 billion of cash, so deleveraging progress matters, particularly with the $2.55 billion CIRCOR aerospace deal to fund. Aerospace revenue depends on air traffic and defence budgets. As a global manufacturer, Parker is exposed to currency, tariffs and supply-chain disruption. Valuation is a risk in its own right: at about 34 times trailing and 24 times forward earnings, well above the industrial machinery group, the stock leaves less room for a miss, and several brokers trimmed price targets in October 2026 ahead of fiscal first-quarter results expected around November 5. ROK: Rockwell's results are tied to industrial and manufacturing capital-spending cycles, so demand can soften in downturns or when customers delay projects, and orders can be lumpy. It competes with large global automation rivals like Siemens, Schneider Electric, ABB, and Emerson, several of which have broader geographic and product breadth. Exposure to specific end markets (autos, semiconductors, food and beverage, energy) introduces concentration and cyclicality. Supply-chain disruptions and component availability have affected lead times in the past. The stock often trades at a premium multiple for an industrial, so disappointing orders or margins can pressure the valuation. Valuation is the near-term pressure point: at ~40 times trailing and ~29 times forward earnings in mid-October 2026, the stock sits below several recently trimmed analyst targets (Morgan Stanley cut its target to $520 from $545 and Mizuho to $430 from $445), and it has fallen ~8% over three months. Debt of ~$3.6 billion against ~$479 million of cash is manageable but higher than the company carried before recent acquisitions.
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Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell PH or ROK; figures are approximate and dated (as of October 2026). Verify current data before investing.