Corbin Advisors Releases Q4’25 Inside The Buy-Side^® Industrial Sentiment Survey^®

FARMINGTON, CT – January 22, 2026 – Corbin Advisors, a strategic investor relations and investor communications advisory firm with a track record of supporting publicly traded clients in creating sustained shareholder value, today released its Q4’25 Inside The Buy-Side® Industrial Sentiment Survey®. The survey was conducted between December 8, 2025 and January 16, 2026, and is based on responses from 26 institutional investors and sell-side analysts globally, representing approximately $360 billion in equity assets under management with approximately $36 billion invested in Industrials.

Following last quarter’s survey, which highlighted a stabilization in sentiment and a renewed focus on growth, this quarter’s results point to continued cautious optimism, underpinned by secular growth tailwinds and rising order rate expectations, across both short- and long-cycle products. At the same time, ongoing headwinds – namely U.S. administration policy, including tariffs, and geopolitical uncertainty – are tempering outright bullishness.

Indeed, 56% of investors characterize sentiment as Neutral to Bullish or Bullish, little changed QoQ. For Q4’25, most anticipate sequential improvement and for quarterly results to come In Line to Better Than consensus, setting the stage for optimism around 2026.

“Industrial investor sentiment remains cautiously optimistic, with growth firmly back at the center of the narrative despite soft industrial production, ongoing headwinds, and a new crop of uncertainty,” said Rebecca Corbin, Founder and CEO of Corbin Advisors. “Anticipation for stronger 2026 organic growth is fully intact, and investors are laser focused on how industrials are positioned to capitalize on secular tailwinds – particularly with regard to AI, data centers, and aerospace & defense. Coupled with an expectation for improving order trends, preference for reinvestment is back in full swing. At the same time, pockets of weakness temper sentiment modestly, including the effects of a government shutdown and continued tariff impacts. Timing of the long-awaited cycle inflection is at the crux of heightened investor optimism and corporate reality. Executives must strike a balance of credible optimism with pragmatism, reinforcing growth levers, highlighting order trends, and continuing to emphasize disciplined investment and margin sustainability without overpromising.”

Looking ahead and despite a continued weak ISM® Manufacturing PMI® print, 59% anticipate 2026 industrial organic growth to be Higher than 2025, with only 16% expecting Lower productivity. As a result, investors continue to prioritize growth over margins, 63% to 37%, in line with the shift identified in last quarter’s survey.

Tariffs continue to lead investor concerns, albeit modestly easing QoQ. More than 80% of respondents believe tariffs are already impacting results or will be imminently, with more seeing pressure on margins than growth. As well, 72% assign a High level of risk to companies with China exposure, an increase from 59% last quarter.

“Several structural trends – electrification, AI, general infrastructure, etc. – are driving demand growth for years to come. However, I have concerns around AI disruption of certain business models, delayed tariffs impact on the broader economy, and a weak consumer.” commented a portfolio manager whose firm has over $10 billion invested across the Industrial sector.

Consistent with the emphasis on growth, reinvestment emerges as the leading preferred use of cash. A large majority of investors, 82%, favor growth capex, up from 64% in Q3’25 and on par with optimism in December 2024 (Trump Bump) and June 2021 (Capex Supercycle). Related, most now anticipate growth capex to increase over the next six months, while support for bolt-on M&A is captured.

From a sub-sector perspective, Defense remains the industry most in favor, with Machinery, Industrial Equipment & Components, and Commercial Aero seeing notable improvements in sentiment. In contrast, consumer-linked markets, specifically Paper & Packaging, Resi and Non-Resi Construction, Auto, and Transportation (Trucks), see the largest share of bears.