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Australian (ASX) Capital Markets Industry Analysis

UpdatedNov 11, 2025
DataAggregated Company Financials
Companies78
  • 7D-2.1%
  • 3M-4.0%
  • 1Y-6.9%
  • YTD-3.1%

Over the last 7 days, the Capital Markets industry has dropped 2.1%, driven by Macquarie Group declining 4.5%. However, the industry is down 6.9% over the past year. 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?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 12 Nov 2025AU$159.1bAU$29.2bAU$7.5b21.8x21.3x5.4x
Fri, 10 Oct 2025AU$164.3bAU$28.6bAU$7.3b22.6x22.4x5.8x
Sun, 07 Sep 2025AU$163.9bAU$28.7bAU$7.3b21.9x22.3x5.7x
Tue, 05 Aug 2025AU$165.5bAU$30.0bAU$7.2b15.9x23x5.5x
Thu, 03 Jul 2025AU$167.6bAU$30.0bAU$7.2b15.7x23.3x5.6x
Sat, 31 May 2025AU$159.4bAU$30.0bAU$7.2b15.2x22.1x5.3x
Mon, 28 Apr 2025AU$147.1bAU$30.0bAU$7.2b14.2x20.4x4.9x
Wed, 26 Mar 2025AU$154.5bAU$30.0bAU$7.2b14.4x21.4x5.1x
Fri, 21 Feb 2025AU$176.1bAU$33.4bAU$7.2b20.7x24.6x5.3x
Sun, 19 Jan 2025AU$167.5bAU$30.0bAU$6.4b20.3x26.2x5.6x
Tue, 17 Dec 2024AU$168.7bAU$30.1bAU$6.3b21.1x26.6x5.6x
Thu, 14 Nov 2024AU$167.8bAU$30.1bAU$6.3b20x26.5x5.6x
Sat, 12 Oct 2024AU$166.1bAU$29.7bAU$6.1b19.8x27.1x5.6x
Mon, 09 Sep 2024AU$154.5bAU$29.6bAU$6.1b17.7x25.5x5.2x
Wed, 07 Aug 2024AU$144.4bAU$28.9bAU$6.3b21x22.9x5x
Fri, 05 Jul 2024AU$147.1bAU$28.9bAU$6.3b22.1x23.4x5.1x
Sun, 02 Jun 2024AU$140.1bAU$28.9bAU$6.3b20.8x22.3x4.9x
Tue, 30 Apr 2024AU$138.0bAU$30.4bAU$7.1b20.5x19.5x4.5x
Thu, 28 Mar 2024AU$142.9bAU$30.4bAU$7.1b20.8x20.2x4.7x
Sat, 24 Feb 2024AU$139.8bAU$30.4bAU$7.1b24.8x19.7x4.6x
Mon, 22 Jan 2024AU$136.3bAU$30.2bAU$6.9b21x19.9x4.5x
Wed, 20 Dec 2023AU$133.0bAU$30.1bAU$6.8b20.6x19.5x4.4x
Fri, 17 Nov 2023AU$123.8bAU$30.1bAU$6.8b19.6x18.1x4.1x
Sun, 15 Oct 2023AU$122.6bAU$30.3bAU$7.4b19.4x16.6x4x
Tue, 12 Sep 2023AU$125.3bAU$30.3bAU$7.4b20.2x17x4.1x
Thu, 10 Aug 2023AU$127.1bAU$29.7bAU$7.4b20.6x17.1x4.3x
Sat, 08 Jul 2023AU$123.6bAU$29.7bAU$7.5b21x16.5x4.2x
Mon, 05 Jun 2023AU$123.5bAU$29.8bAU$7.5b19.8x16.4x4.1x
Wed, 03 May 2023AU$130.1bAU$28.9bAU$7.3b20.1x17.7x4.5x
Fri, 31 Mar 2023AU$123.8bAU$28.9bAU$7.3b20.4x16.9x4.3x
Sun, 26 Feb 2023AU$133.5bAU$29.0bAU$7.5b21.3x17.9x4.6x
Tue, 24 Jan 2023AU$131.3bAU$28.9bAU$7.6b17.5x17.3x4.5x
Thu, 22 Dec 2022AU$121.9bAU$28.9bAU$7.6b16.6x16x4.2x
Sat, 19 Nov 2022AU$129.6bAU$29.0bAU$7.6b17.1x17x4.5x
Price to Earnings Ratio

17x


Total Market Cap: AU$129.6bTotal Earnings: AU$7.6bTotal Revenue: AU$29.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Capital Markets Industry Price to Earnings3Y Average 20.8x202320242025
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 20.8x.
  • The 3-year average PS ratio of 4.9x is lower than the industry's current PS ratio of 5.4x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Capital Markets industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

Which industries have driven the changes within the Australian Financials industry?

AU Market-0.15%
Financials-2.03%
Capital Markets-2.08%
Financial Exchanges and Data3.83%
Investment Banking and Brokerage0.78%
Asset Management-0.51%
Diversified Capital Markets-4.49%
Industry PE
  • Investors are most optimistic about the Investment Banking and Brokerage industry, which is trading close to its 3-year average PE ratio of 83.5x.
    • Analysts are expecting annual earnings growth of 19.9%, which is lower than the prior year's growth of 57.3% per year.
  • Investors are most pessimistic about the Asset Management industry, which is trading below its 3-year average of 22.4x.
Forecasted Growth
  • Analysts are most optimistic on the Investment Banking and Brokerage industry, expecting annual earnings growth of 20% over the next 5 years.
  • However this is lower than its past earnings growth rate of 57% per year.
  • In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 4.5% 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
ASX ASXAU$58.543.8%
+AU$419.6m		-10.7%PE22.6x
HUB HUB24AU$115.440.8%
+AU$78.1m		60.7%PE118.1x
ARG Argo InvestmentsAU$9.220.9%
+AU$60.9m		3.8%PE27x
MAF MA Financial GroupAU$9.863.4%
+AU$55.8m		46.7%PE47.9x
NGI Navigator Global InvestmentsAU$3.003.8%
+AU$53.9m		80.2%PE8x

Latest News

MQG
AU$207.46
Macquarie Group
7D
-4.5%
1Y
-10.3%

Macquarie Group Limited (ASX:MQG) Interim Results: Here's What Analysts Are Forecasting For This Year

Nov 10
Macquarie Group Limited (ASX:MQG) Interim Results: Here's What Analysts Are Forecasting For This Year
MAF
AU$9.86
MA Financial Group
7D
3.4%
1Y
46.7%

MAF: Earnings Will Rise As Hyperdome Acquisition Drives Redevelopment

Analysts have slightly raised their price target for MA Financial Group from $10.97 to $11.02, citing improved expectations for revenue growth alongside a modest adjustment to future profit margins. What's in the News MA Financial Group is set to acquire the Logan Hyperdome complex near Brisbane for AUD 678 million.
NWL
AU$30.21
Netwealth Group
7D
-2.0%
1Y
1.6%

NWL: Future Performance Will Reflect Stable Margins And Consistent Revenue Trends

Analysts have slightly increased their price target for Netwealth Group to $32.27. They cite stable revenue growth and consistent profit margins as key drivers of their updated outlook.
NGI
AU$3.00
Navigator Global Investments
7D
3.8%
1Y
80.2%

Navigator Global Investments Limited (ASX:NGI) Shares Fly 33% But Investors Aren't Buying For Growth

Nov 04
Navigator Global Investments Limited (ASX:NGI) Shares Fly 33% But Investors Aren't Buying For Growth
HUB
AU$115.44
HUB24
7D
0.8%
1Y
60.7%

HUB: Index Inclusion And Dividend Will Shape A Steady Outlook

Analysts have raised their price target on HUB24, increasing the fair value estimate from $101.78 to $108.36. They cited expectations of stronger revenue growth and a slight improvement in profit margins.
IFL
AU$4.63
Insignia Financial
7D
1.5%
1Y
39.0%

IFL: Margin Improvements And Market Tailwinds Will Support Measured Upside

Analysts have slightly raised their price target for Insignia Financial from $4.75 to $4.79, citing modest improvements in projected revenue growth and profit margins. What's in the News Insignia Financial Ltd.
L1G
AU$1.05
L1 Group
7D
-1.9%
1Y
n/a
ASX
AU$58.54
ASX
7D
3.8%
1Y
-10.7%

Dividend Outlook And Digitization Will Drive Stronger Returns Moving Forward

Analysts have slightly reduced their price target for ASX, lowering the estimate from $66.51 to $65.16 to reflect modest adjustments in growth and profitability expectations. What's in the News ASX Limited announced an ordinary dividend of AUD 1.121 per share for the six months ending June 30, 2025.
QAL
AU$3.82
Qualitas
7D
4.4%
1Y
36.4%

Why We're Not Concerned About Qualitas Limited's (ASX:QAL) Share Price

Oct 28
Why We're Not Concerned About Qualitas Limited's (ASX:QAL) Share Price
HM1
AU$3.16
Hearts and Minds Investments
7D
-4.2%
1Y
3.6%
PNI
AU$17.91
Pinnacle Investment Management Group
7D
-3.7%
1Y
-16.2%
HMC
AU$3.13
HMC Capital
7D
-3.4%
1Y
-71.0%
ARG
AU$9.22
Argo Investments
7D
0.9%
1Y
3.8%

Argo Investments Limited's (ASX:ARG) Share Price Could Signal Some Risk

Oct 06
Argo Investments Limited's (ASX:ARG) Share Price Could Signal Some Risk
MFF
AU$4.79
MFF Capital Investments
7D
1.7%
1Y
13.5%
EQT
AU$23.80
EQT Holdings
7D
-4.9%
1Y
-24.9%
AFI
AU$7.24
Australian Foundation Investment
7D
-1.2%
1Y
-2.9%