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Brazilian (BOVESPA) Capital Markets Industry Analysis

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies11
  • 7D3.8%
  • 3M-7.6%
  • 1Y20.8%
  • YTD2.9%

In the last week, the Capital Markets industry is up 3.8%, with Banco BTG Pactual up 4.8%. This takes the industry's 12 month performance to a gain of 21%. 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
Wed, 24 Jun 2026R$328.3bR$55.3bR$21.7b11.2x15.1x5.9x
Fri, 22 May 2026R$347.3bR$55.2bR$22.2b11.3x15.6x6.3x
Sun, 19 Apr 2026R$404.4bR$51.9bR$20.5b13.8x19.8x7.8x
Tue, 17 Mar 2026R$350.9bR$52.3bR$20.5b16.6x17.2x6.7x
Thu, 12 Feb 2026R$377.9bR$51.9bR$20.7b18x18.2x7.3x
Sat, 10 Jan 2026R$333.7bR$50.3bR$19.5b15.3x17.2x6.6x
Mon, 08 Dec 2025R$322.9bR$50.3bR$19.5b14.8x16.6x6.4x
Wed, 05 Nov 2025R$298.6bR$47.6bR$18.1b15.6x16.5x6.3x
Fri, 03 Oct 2025R$292.9bR$47.5bR$17.1b13.9x17.2x6.2x
Sun, 31 Aug 2025R$282.4bR$47.5bR$17.1b14x16.5x5.9x
Tue, 29 Jul 2025R$251.0bR$45.5bR$15.8b14x15.9x5.5x
Thu, 26 Jun 2025R$272.9bR$45.5bR$15.8b15x17.3x6x
Sat, 24 May 2025R$265.0bR$45.5bR$15.8b15.8x16.8x5.8x
Mon, 21 Apr 2025R$230.5bR$44.6bR$15.2b12.4x15.2x5.2x
Wed, 19 Mar 2025R$234.5bR$45.3bR$16.5b13.9x14.2x5.2x
Fri, 14 Feb 2025R$212.1bR$45.2bR$16.2b12.8x13.1x4.7x
Sun, 12 Jan 2025R$186.5bR$9.8bR$4.1b11.4x45.6x19x
Tue, 10 Dec 2024R$201.0bR$47.0bR$17.0b11.3x11.8x4.3x
Thu, 07 Nov 2024R$218.2bR$42.3bR$15.1b11.6x14.5x5.2x
Sat, 05 Oct 2024R$213.9bR$42.3bR$15.1b10.6x14.2x5.1x
Mon, 02 Sep 2024R$240.2bR$42.3bR$15.1b10.5x15.9x5.7x
Wed, 31 Jul 2024R$213.2bR$41.8bR$14.5b10.2x14.7x5.1x
Fri, 28 Jun 2024R$227.1bR$41.8bR$14.5b9.4x15.7x5.4x
Sun, 26 May 2024R$230.2bR$41.8bR$14.5b9.9x15.9x5.5x
Tue, 23 Apr 2024R$234.9bR$41.1bR$13.9b10.8x16.9x5.7x
Thu, 21 Mar 2024R$260.5bR$40.6bR$14.0b10.7x18.7x6.4x
Sat, 17 Feb 2024R$265.0bR$40.7bR$14.1b10.6x18.9x6.5x
Mon, 15 Jan 2024R$266.0bR$38.4bR$13.0b7.9x20.5x6.9x
Wed, 13 Dec 2023R$246.8bR$38.4bR$13.0b8x19x6.4x
Fri, 10 Nov 2023R$234.9bR$38.0bR$12.5b8.2x18.8x6.2x
Sun, 08 Oct 2023R$218.5bR$38.0bR$12.5b8.4x17.5x5.7x
Tue, 05 Sep 2023R$229.6bR$38.0bR$12.5b7.6x18.4x6x
Thu, 03 Aug 2023R$251.0bR$40.7bR$12.2b12x20.6x6.2x
Sat, 01 Jul 2023R$238.9bR$40.7bR$12.2b10.8x19.6x5.9x
Price to Earnings Ratio

19.6x


Total Market Cap: R$238.9bTotal Earnings: R$12.2bTotal Revenue: R$40.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Capital Markets Industry Price to Earnings3Y Average 16.8x202420252026
Current Industry PE
  • Investors are pessimistic on the Brazilian Capital Markets industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 15.1x which is lower than its 3-year average PE of 16.8x.
  • The industry is trading close to its 3-year average PS ratio of 5.9x.
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 11% 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 Market1.51%
Financials1.17%
Capital Markets3.84%
Diversified Capital Markets4.78%
Investment Banking and Brokerage1.12%
Financial Exchanges and Data0.75%
Asset Management-0.33%
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 16.4x.
    • 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
BPAC11 Banco BTG PactualR$52.804.8%
+R$11.6b		25.3%PE14.7x
B3SA3 B3 - Brasil Bolsa BalcãoR$14.720.8%
+R$551.2m		8.2%PE14.9x
FAED11 Fundo de Investimento Imobiliário - FII Anhanguera EducacionalR$151.130.4%
+R$463.9k		6.3%n/a
PABY11 Fundo de Investimento Imobiliário PanambyR$18.252.8%
+R$379.2k		67.9%n/a

Latest News

BPAC11
R$52.80
Banco BTG Pactual
7D
4.8%
1Y
25.3%
Narrative Update • Jun 10

BPAC11: Refined Discount Rate Assumptions Will Support Future Upside Potential

Analysts have nudged their price target for Banco BTG Pactual slightly lower to R$65.92 from R$66.31, reflecting updated assumptions that combine a modestly adjusted discount rate with small tweaks to long term revenue growth, profit margin outlook and future P/E expectations. What's in the News No recent news stories, periodical coverage or key developments were provided for Banco BTG Pactual, so there are currently no specific events to highlight for you.
FAED11
R$151.13
Fundo de Investimento Imobiliário - FII Anhanguera Educacional
7D
0.4%
1Y
6.3%
B3SA3
R$14.72
B3 - Brasil Bolsa Balcão
7D
0.8%
1Y
8.2%
Narrative Update • Jun 09

B3SA3: New Settlement Platform And Governance Actions Will Support Forward Upside

Analysts have nudged their price target for B3 slightly higher to R$20.11 from R$20.04. This reflects small adjustments to revenue growth, profit margin assumptions and the future P/E outlook.
TRAD3
R$1.21
TC
7D
-1.6%
1Y
-83.7%
BRBI11
R$14.60
BRBI BR Partners
7D
-0.7%
1Y
-6.4%
G2DI33
R$1.13
G2D Investments
7D
-1.7%
1Y
-24.7%
PABY11
R$18.25
Fundo de Investimento Imobiliário Panamby
7D
2.8%
1Y
67.9%