Analysis Article • May 07
Have your own idea? Try our Stock Screener
Australian (ASX) Capital Markets Industry Analysis
UpdatedMay 07, 2026
DataAggregated Company Financials
Companies74
- 7D2.6%
- 3M4.8%
- 1Y6.7%
- YTD6.4%
Macquarie Group is up 0.4%, leading the way for the Capital Markets industry, which has gained 2.6%. Meanwhile, ASX actually underperformed within the industry, shrinking 5.4% in the last week. This takes the industry's 12 month performance to a gain of 6.7%. Looking forward, earnings are forecast to grow by 11% annually.
Industry Valuation and Performance
Has the Australian Capital Markets Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 09 May 2026 | AU$162.1b | AU$27.9b | AU$7.0b | 19.1x | 23.2x | 5.8x |
| Mon, 06 Apr 2026 | AU$148.4b | AU$29.7b | AU$7.2b | 19.6x | 20.7x | 5x |
| Wed, 04 Mar 2026 | AU$150.3b | AU$29.7b | AU$7.2b | 19.9x | 20.9x | 5.1x |
| Fri, 30 Jan 2026 | AU$159.2b | AU$29.1b | AU$7.4b | 21.3x | 21.5x | 5.5x |
| Sun, 28 Dec 2025 | AU$156.7b | AU$29.2b | AU$7.4b | 20.7x | 21x | 5.4x |
| Tue, 25 Nov 2025 | AU$152.4b | AU$29.3b | AU$7.5b | 22.3x | 20.4x | 5.2x |
| Thu, 23 Oct 2025 | AU$168.5b | AU$28.6b | AU$7.3b | 22.3x | 22.9x | 5.9x |
| Sat, 20 Sep 2025 | AU$163.2b | AU$28.7b | AU$7.3b | 22.7x | 22.2x | 5.7x |
| Mon, 18 Aug 2025 | AU$165.5b | AU$29.1b | AU$6.9b | 17.7x | 23.9x | 5.7x |
| Wed, 16 Jul 2025 | AU$168.2b | AU$30.0b | AU$7.2b | 15.6x | 23.4x | 5.6x |
| Fri, 13 Jun 2025 | AU$160.4b | AU$30.0b | AU$7.2b | 15.4x | 22.3x | 5.3x |
| Sun, 11 May 2025 | AU$154.9b | AU$30.0b | AU$7.4b | 14.6x | 21.1x | 5.2x |
| Tue, 08 Apr 2025 | AU$133.8b | AU$30.1b | AU$7.3b | 13.2x | 18.4x | 4.4x |
| Thu, 06 Mar 2025 | AU$162.9b | AU$30.0b | AU$7.2b | 16.3x | 22.5x | 5.4x |
| Sat, 01 Feb 2025 | AU$174.5b | AU$30.3b | AU$6.6b | 20.7x | 26.3x | 5.8x |
| Mon, 30 Dec 2024 | AU$166.0b | AU$30.1b | AU$6.4b | 21x | 26.1x | 5.5x |
| Wed, 27 Nov 2024 | AU$171.0b | AU$30.0b | AU$6.3b | 20x | 27x | 5.7x |
| Fri, 25 Oct 2024 | AU$167.2b | AU$29.7b | AU$6.1b | 19.7x | 27.3x | 5.6x |
| Sun, 22 Sep 2024 | AU$158.6b | AU$29.6b | AU$6.1b | 17.9x | 26.2x | 5.4x |
| Tue, 20 Aug 2024 | AU$150.6b | AU$29.1b | AU$6.4b | 21.3x | 23.4x | 5.2x |
| Thu, 18 Jul 2024 | AU$151.6b | AU$28.9b | AU$6.3b | 22.5x | 24.1x | 5.3x |
| Sat, 15 Jun 2024 | AU$139.7b | AU$28.9b | AU$6.3b | 20.5x | 22.2x | 4.8x |
| Mon, 13 May 2024 | AU$140.5b | AU$28.9b | AU$6.3b | 21.2x | 22.3x | 4.9x |
| Wed, 10 Apr 2024 | AU$140.6b | AU$30.4b | AU$7.1b | 21.2x | 19.9x | 4.6x |
| Fri, 08 Mar 2024 | AU$141.4b | AU$30.4b | AU$7.1b | 21x | 20x | 4.6x |
| Sun, 04 Feb 2024 | AU$140.4b | AU$30.3b | AU$7.0b | 22.3x | 20.2x | 4.6x |
| Tue, 02 Jan 2024 | AU$134.7b | AU$30.1b | AU$6.8b | 20.5x | 19.7x | 4.5x |
| Thu, 30 Nov 2023 | AU$123.2b | AU$30.1b | AU$6.8b | 19.5x | 18x | 4.1x |
| Sat, 28 Oct 2023 | AU$116.1b | AU$30.3b | AU$7.4b | 19.4x | 15.7x | 3.8x |
| Mon, 25 Sep 2023 | AU$124.0b | AU$30.3b | AU$7.4b | 20.2x | 16.8x | 4.1x |
| Wed, 23 Aug 2023 | AU$123.3b | AU$30.0b | AU$7.3b | 20.5x | 16.8x | 4.1x |
| Fri, 21 Jul 2023 | AU$130.8b | AU$29.7b | AU$7.5b | 20.8x | 17.5x | 4.4x |
| Sun, 18 Jun 2023 | AU$128.8b | AU$29.8b | AU$7.5b | 20.1x | 17.1x | 4.3x |
| Tue, 16 May 2023 | AU$126.8b | AU$29.8b | AU$7.5b | 20.5x | 16.8x | 4.3x |
Price to Earnings Ratio
16.8x
Current Industry PE
- Investors are relatively neutral on the Australian Capital Markets industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 21.4x.
- The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 5.8x.
Past Earnings Growth
- The earnings for companies in the Capital Markets industry have declined 2.4% per year over the last three years,
- Revenues have also declined 2.2% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Australian Financials industry?
| AU Market | 1.10% | |
| Financials | 2.37% | |
| Capital Markets | 2.62% | |
| Financial Exchanges and Data | 8.54% | |
| Diversified Capital Markets | 3.19% | |
| Asset Management | 1.13% | |
| Investment Banking and Brokerage | -1.69% | |
Industry PE
- Investors are most optimistic about the Investment Banking and Brokerage industry even though it's trading below its 3-year average PE ratio of 87.7x.
- Analysts are expecting annual earnings growth of 15.6%, which is lower than the prior year's growth of 67.1% per year.
- Investors are most pessimistic about the Asset Management industry, which is trading close to its 3-year average of 22.2x.
Forecasted Growth
- Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 18% over the next 5 years.
- This is better than its past earnings growth rate of 7.9% per year.
- In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 2.4% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| MQG Macquarie Group | AU$239.23 | 0.4% +AU$380.3m | 17.7% | PE24.1x | |
| PNI Pinnacle Investment Management Group | AU$16.26 | 9.3% +AU$322.0m | -16.6% | PE30.1x | |
| HMC HMC Capital | AU$2.99 | 19.6% +AU$202.0m | -42.6% | PS5.8x | |
| L1G L1 Group | AU$1.20 | 5.3% +AU$150.6m | n/a | PE25.8x | |
| RPL Regal Partners | AU$2.59 | 13.1% +AU$110.3m | 6.6% | PE7.3x |
