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U.K. (FTSE) Capital Markets Industry Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies143
  • 7D0.3%
  • 3M-0.01%
  • 1Y-6.1%
  • YTD-1.6%

In the last week, Capital Markets has been flat. As for the longer term, the industry has declined 6.1% in the last year. Earnings are forecast to grow by 9.2% annually.

Industry Valuation and Performance

Has the U.K. Capital Markets Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 16 Mar 2026UK£147.6bUK£74.8bUK£13.7b13.5x10.7x2x
Wed, 11 Feb 2026UK£147.0bUK£55.3bUK£12.6b14.7x11.7x2.7x
Fri, 09 Jan 2026UK£151.4bUK£55.4bUK£12.6b13.4x12.1x2.7x
Sun, 07 Dec 2025UK£148.4bUK£55.4bUK£12.6b12.6x11.8x2.7x
Tue, 04 Nov 2025UK£169.5bUK£54.7bUK£11.7b14.3x14.5x3.1x
Thu, 02 Oct 2025UK£161.3bUK£55.0bUK£11.6b13.1x13.9x2.9x
Sat, 30 Aug 2025UK£161.6bUK£54.8bUK£11.6b13x14x2.9x
Mon, 28 Jul 2025UK£168.3bUK£64.0bUK£10.9b13.6x15.4x2.6x
Wed, 25 Jun 2025UK£165.4bUK£63.8bUK£10.8b12.3x15.3x2.6x
Fri, 23 May 2025UK£167.9bUK£63.8bUK£10.9b12.2x15.4x2.6x
Sun, 20 Apr 2025UK£162.2bUK£63.1bUK£10.2b11.1x15.9x2.6x
Tue, 18 Mar 2025UK£169.3bUK£63.5bUK£10.3b11.8x16.5x2.7x
Thu, 13 Feb 2025UK£178.2bUK£64.8bUK£9.8b11.8x18.2x2.7x
Sat, 11 Jan 2025UK£167.4bUK£64.8bUK£9.8b11.4x17.2x2.6x
Mon, 09 Dec 2024UK£170.9bUK£64.6bUK£9.6b12.2x17.8x2.6x
Wed, 06 Nov 2024UK£161.4bUK£64.1bUK£9.3b12.6x17.4x2.5x
Fri, 04 Oct 2024UK£158.9bUK£64.1bUK£9.2b12.9x17.2x2.5x
Sun, 01 Sep 2024UK£156.6bUK£64.1bUK£9.0b12.8x17.4x2.4x
Tue, 30 Jul 2024UK£151.2bUK£54.2bUK£8.7b14.5x17.3x2.8x
Thu, 27 Jun 2024UK£150.3bUK£54.1bUK£8.5b15.2x17.7x2.8x
Sat, 25 May 2024UK£146.1bUK£53.2bUK£8.2b17.1x17.8x2.7x
Mon, 22 Apr 2024UK£136.6bUK£53.9bUK£8.7b15x15.6x2.5x
Wed, 20 Mar 2024UK£135.3bUK£53.5bUK£8.4b16.8x16.1x2.5x
Fri, 16 Feb 2024UK£131.7bUK£47.5bUK£8.7b14.4x15.2x2.8x
Sun, 14 Jan 2024UK£137.7bUK£48.6bUK£8.8b15.3x15.7x2.8x
Tue, 12 Dec 2023UK£137.9bUK£48.7bUK£8.8b14.9x15.7x2.8x
Thu, 09 Nov 2023UK£126.7bUK£48.5bUK£8.8b12.6x14.4x2.6x
Sat, 07 Oct 2023UK£125.8bUK£48.7bUK£8.8b12.6x14.3x2.6x
Mon, 04 Sep 2023UK£125.5bUK£48.6bUK£8.9b14.4x14.1x2.6x
Wed, 02 Aug 2023UK£128.4bUK£45.7bUK£9.0b14.1x14.2x2.8x
Fri, 30 Jun 2023UK£121.1bUK£30.2bUK£8.9b14.3x13.6x4x
Sun, 28 May 2023UK£129.0bUK£30.3bUK£9.0b14.1x14.3x4.3x
Tue, 25 Apr 2023UK£125.2bUK£29.5bUK£8.2b14.1x15.2x4.2x
Thu, 23 Mar 2023UK£122.9bUK£30.1bUK£8.6b14x14.3x4.1x
Price to Earnings Ratio

14.3x


Total Market Cap: UK£122.9bTotal Earnings: UK£8.6bTotal Revenue: UK£30.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Capital Markets Industry Price to Earnings3Y Average 15.3x202420252026
Current Industry PE
  • Investors are pessimistic on the British 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 10.7x which is lower than its 3-year average PE of 15.3x.
  • The 3-year average PS ratio of 2.8x is higher than the industry's current PS ratio of 2.0x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 17% per year over the last three years.
  • Revenues for these companies have grown 35% 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 U.K. Financials industry?

GB Market-0.10%
Financials-2.27%
Capital Markets0.33%
Investment Banking and Brokerage1.76%
Financial Exchanges and Data0.93%
Asset Management-0.16%
Industry PE
  • Investors are most optimistic about the Financial Exchanges and Data industry even though it's trading below its 3-year average PE ratio of 65.4x.
    • Analysts are expecting annual earnings growth of 13.4%, which is lower than the prior year's growth of 40.4% per year.
  • Investors are most pessimistic about the Asset Management industry, which is trading below its 3-year average of 10.7x.
Forecasted Growth
  • Analysts are most optimistic on the Financial Exchanges and Data industry, expecting annual earnings growth of 13% over the next 5 years.
  • However this is lower than its past earnings growth rate of 40% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 6.6% 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
III 3i GroupUK£29.691.4%
+UK£427.5m		-21.9%PE4.8x
LSEG London Stock Exchange GroupUK£87.461.0%
+UK£348.0m		-20.3%PE35.1x
BPT Bridgepoint GroupUK£2.406.0%
+UK£118.9m		-23.9%PE50.7x
TCAP TP ICAP GroupUK£2.726.0%
+UK£115.4m		2.8%PE10.9x
ABDN Aberdeen GroupUK£2.031.8%
+UK£64.4m		15.6%PE9.4x

Latest News

BPT
UK£2.40
Bridgepoint Group
7D
6.0%
1Y
-23.9%
TCAP
UK£2.72
TP ICAP Group
7D
6.0%
1Y
2.8%
PBEE
UK£1.44
PensionBee Group
7D
-9.7%
1Y
-1.7%

Recurring Pension Fees And Operating Leverage Will Support Compounding Earnings Potential

Catalysts About PensionBee Group PensionBee Group is a digital pension provider that helps individuals combine, manage and withdraw their retirement savings through an online platform. What are the underlying business or industry changes driving this perspective?
RAT
UK£20.60
Rathbones Group
7D
2.0%
1Y
25.5%

RAT: Raised Plan Execution Will Support More Constructive Future Share Pricing

Rathbones Group's analyst fair value estimate has moved from £22.07 to £23.78. This reflects higher Street price targets around £2,500 to £2,600 and analysts' more constructive view on the latest company update.
QLT
UK£1.77
Quilter
7D
-1.8%
1Y
14.0%
III
UK£29.69
3i Group
7D
1.4%
1Y
-21.9%
ICG
UK£15.40
ICG
7D
-1.0%
1Y
-25.5%
SDR
UK£5.71
Schroders
7D
-2.5%
1Y
48.5%

SDR: Nuveen Cash Offer Will Limit Future Upside And Keep Outlook Cautious

Our updated analyst price target for Schroders edges higher to £5.25 from £5.15, reflecting modestly higher fair value assumptions and slightly lower discount rates as analysts factor in the Nuveen cash offer and recent upgrades to price targets across the Street. Analyst Commentary Street research around Schroders has shifted toward treating the Nuveen offer as the key anchor for valuation, with most recent target prices clustering around the cash and dividend terms of the deal.
N91
UK£2.25
Ninety One Group
7D
-1.7%
1Y
49.5%

N91: Stable Assumptions And Slightly Lower Risk Will Support Fair Value

Analysts have trimmed their price target for Ninety One Group to £2.44, a small adjustment that reflects slightly lower discount rate and P/E assumptions while keeping their fair value view broadly unchanged. Valuation Changes Fair Value: £2.44 remains unchanged, with the updated fair value aligned to the previous estimate.
ABDN
UK£2.03
Aberdeen Group
7D
1.8%
1Y
15.6%
LSEG
UK£87.46
London Stock Exchange Group
7D
1.0%
1Y
-20.3%
STJ
UK£12.91
St. James's Place
7D
0.8%
1Y
28.5%

STJ: Higher Long Term P/E Assumptions Will Offset AI Disruption Risk

The updated analyst price target for St. James's Place edges higher, reflecting a recalibrated fair value estimate and P/E assumptions as analysts balance AI related competitive risks highlighted in recent downgrades with supportive views on valuation and a series of revised targets between about £13.00 and £19.50. Analyst Commentary Recent Street research on St. James's Place shows a mix of optimism and caution, with several firms revisiting ratings and price targets in light of valuation changes and perceived competitive risks from AI driven models.
FGEN
UK£0.72
Foresight Environmental Infrastructure
7D
-3.1%
1Y
-1.5%
CGEO
UK£34.90
Georgia Capital
7D
-2.0%
1Y
124.0%
HICL
UK£1.22
HICL Infrastructure
7D
2.9%
1Y
10.7%
TAM
UK£5.54
Tatton Asset Management
7D
-5.5%
1Y
-11.8%