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Brazilian (BOVESPA) Capital Markets Industry Analysis

UpdatedAug 08, 2026
DataAggregated Company Financials
Companies11
  • 7D-5.0%
  • 3M-10.1%
  • 1Y27.8%
  • YTD5.0%

Over the last 7 days, the Capital Markets industry has dropped 5.0%, driven by a pullback from Banco BTG Pactual of 5.1%. Over the past 12 months, the industry was up 28%. As for the next few years, earnings are expected to grow by 13% per annum.

Industry Valuation and Performance

Has the Brazilian Capital Markets Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 09 Aug 2026R$334.8bR$55.3bR$21.7b10.8x15.4x6.1x
Tue, 07 Jul 2026R$340.0bR$55.3bR$21.7b11.2x15.6x6.2x
Thu, 04 Jun 2026R$322.3bR$55.3bR$21.7b10.8x14.8x5.8x
Sat, 02 May 2026R$376.7bR$51.9bR$20.5b13x18.4x7.3x
Mon, 30 Mar 2026R$344.8bR$51.9bR$20.5b16.2x16.8x6.6x
Wed, 25 Feb 2026R$383.9bR$52.0bR$20.7b18.5x18.5x7.4x
Fri, 23 Jan 2026R$355.4bR$50.3bR$19.5b16.5x18.3x7.1x
Sun, 21 Dec 2025R$318.5bR$50.3bR$19.5b14.1x16.4x6.3x
Tue, 18 Nov 2025R$329.7bR$50.3bR$19.4b16.1x17x6.6x
Thu, 16 Oct 2025R$292.6bR$47.5bR$17.1b13.6x17.1x6.2x
Sat, 13 Sep 2025R$285.5bR$47.5bR$17.1b14x16.7x6x
Mon, 11 Aug 2025R$262.9bR$45.6bR$15.9b13.9x16.6x5.8x
Wed, 09 Jul 2025R$272.5bR$45.5bR$15.8b16.1x17.3x6x
Fri, 06 Jun 2025R$263.3bR$45.5bR$15.8b15x16.7x5.8x
Sun, 04 May 2025R$250.8bR$44.6bR$15.2b13.2x16.5x5.6x
Tue, 01 Apr 2025R$226.1bR$45.3bR$16.6b12.4x13.6x5x
Thu, 27 Feb 2025R$212.8bR$45.3bR$16.5b12.2x12.9x4.7x
Sat, 25 Jan 2025R$204.6bR$45.1bR$15.8b11.6x12.9x4.5x
Mon, 23 Dec 2024R$193.8bR$45.0bR$15.8b10.7x12.3x4.3x
Wed, 20 Nov 2024R$218.3bR$44.9bR$15.8b12.5x13.9x4.9x
Fri, 18 Oct 2024R$217.0bR$42.3bR$15.1b11.5x14.4x5.1x
Sun, 15 Sep 2024R$234.1bR$42.3bR$15.1b10.8x15.5x5.5x
Tue, 13 Aug 2024R$235.2bR$42.0bR$14.7b10.2x16x5.6x
Thu, 11 Jul 2024R$212.0bR$41.8bR$14.5b9.6x14.6x5.1x
Sat, 08 Jun 2024R$236.1bR$41.8bR$14.5b9.7x16.3x5.7x
Mon, 06 May 2024R$250.2bR$41.1bR$13.9b11x18x6.1x
Wed, 03 Apr 2024R$253.1bR$41.1bR$14.0b12x18.1x6.2x
Fri, 01 Mar 2024R$262.2bR$40.6bR$14.0b11.1x18.8x6.5x
Sun, 28 Jan 2024R$254.8bR$38.4bR$13.0b9.5x19.7x6.6x
Tue, 26 Dec 2023R$261.0bR$38.4bR$13.0b8.1x20.1x6.8x
Thu, 23 Nov 2023R$236.1bR$38.4bR$13.0b7.8x18.2x6.2x
Sat, 21 Oct 2023R$206.5bR$38.0bR$12.5b8.2x16.5x5.4x
Mon, 18 Sep 2023R$235.3bR$38.0bR$12.5b8.2x18.9x6.2x
Wed, 16 Aug 2023R$235.2bR$38.0bR$12.5b12.7x18.9x6.2x
Price to Earnings Ratio

18.9x


Total Market Cap: R$235.2bTotal Earnings: R$12.5bTotal Revenue: R$38.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Capital Markets Industry Price to Earnings3Y Average 16.6x202420252026
Current Industry PE
  • Investors are relatively neutral on the Brazilian 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 16.6x.
  • The industry is trading close to its 3-year average PS ratio of 6.0x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 21% per year over the last three years.
  • Revenues for these companies have grown 13% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

BR Market-3.29%
Financials-4.73%
Capital Markets-5.05%
Investment Banking and Brokerage1.14%
Asset Management0.41%
Financial Exchanges and Data-4.96%
Diversified Capital Markets-5.09%
Industry PE
  • Investors are most optimistic about the Financial Exchanges and Data industry, which is trading close to its 3-year average PE ratio of 16.2x.
    • Analysts are expecting annual earnings growth of 9.4%, which is higher than its past year's earnings growth of 4.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Capital Markets industry, expecting annual earnings growth of 14% over the next 5 years.
  • However this is lower than its past earnings growth rate of 42% per year.
  • In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 9.4% 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
G2DI33 G2D InvestmentsR$1.150.9%
+R$1.2m		-34.3%PB0.2x
PABY11 Fundo de Investimento Imobiliário PanambyR$26.753.9%
+R$758.4k		147.5%n/a
FAED11 Fundo de Investimento Imobiliário - FII Anhanguera EducacionalR$152.510.3%
+R$353.1k		6.7%n/a

Latest News

BRBI11
R$13.00
BRBI BR Partners
7D
-9.6%
1Y
-18.9%
ECOM3
R$1.01
Economatica
7D
-1.0%
1Y
-86.0%
B3SA3
R$14.95
B3 - Brasil Bolsa Balcão
7D
-5.0%
1Y
16.1%
Narrative Update • Jul 22

B3SA3: Higher Margin Outlook Will Support Future Earnings Multiple Repricing

Analysts have raised their price target for B3, Brasil Bolsa Balcão, from R$22.00 to R$23.00, citing updates to their models that reflect revised assumptions for profit margins, revenue growth, discount rate and future P/E multiples. What's in the News B3, Brasil Bolsa Balcão, has scheduled a board meeting for May 7, 2026 to consider approval of the company’s first-trimester 2026 financial statements.
G2DI33
R$1.15
G2D Investments
7D
0.9%
1Y
-34.3%
FAED11
R$152.51
Fundo de Investimento Imobiliário - FII Anhanguera Educacional
7D
0.3%
1Y
6.7%
BPAC11
R$53.91
Banco BTG Pactual
7D
-5.1%
1Y
32.3%
Narrative Update • Jun 25

BPAC11: Slightly Higher Fair Value Will Support Future Upside Potential

Analysts have made a minor adjustment to their Banco BTG Pactual price target, lifting fair value slightly from R$65.92 to R$66.00. This reflects updated assumptions for discount rate, revenue growth, profit margin and future P/E that remain broadly consistent with prior expectations.
PABY11
R$26.75
Fundo de Investimento Imobiliário Panamby
7D
3.9%
1Y
147.5%