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U.K. (FTSE) Capital Markets Industry Analysis

UpdatedJun 15, 2026
DataAggregated Company Financials
Companies140
  • 7D0.9%
  • 3M0.4%
  • 1Y-7.6%
  • YTD0.03%

Last week, the Capital Markets industry hasn't moved much but 3i Group is up 5.3% in that time. As for the longer term, the industry has declined 7.6% in the last year. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 15 Jun 2026UK£149.3bUK£74.1bUK£13.0b12.8x11.5x2x
Wed, 13 May 2026UK£147.0bUK£74.9bUK£13.8b12.8x10.6x2x
Fri, 10 Apr 2026UK£149.0bUK£74.9bUK£13.9b14x10.7x2x
Sun, 08 Mar 2026UK£149.5bUK£74.5bUK£13.6b13.8x11x2x
Tue, 03 Feb 2026UK£151.7bUK£55.3bUK£12.6b14.7x12.1x2.7x
Thu, 01 Jan 2026UK£152.2bUK£55.3bUK£12.6b13.1x12.1x2.7x
Sat, 29 Nov 2025UK£152.9bUK£56.4bUK£13.3b13.1x11.5x2.7x
Mon, 27 Oct 2025UK£171.8bUK£55.0bUK£11.6b14.2x14.8x3.1x
Wed, 24 Sep 2025UK£155.5bUK£54.8bUK£11.5b13.2x13.5x2.8x
Fri, 22 Aug 2025UK£164.4bUK£54.9bUK£11.6b13.3x14.2x3x
Sun, 20 Jul 2025UK£173.5bUK£63.9bUK£10.8b13.7x16x2.7x
Tue, 17 Jun 2025UK£167.7bUK£63.8bUK£10.9b12.6x15.4x2.6x
Thu, 15 May 2025UK£169.0bUK£62.9bUK£10.1b12.4x16.7x2.7x
Sat, 12 Apr 2025UK£154.9bUK£63.2bUK£10.2b10.7x15.1x2.5x
Mon, 10 Mar 2025UK£170.4bUK£63.4bUK£10.2b12x16.6x2.7x
Wed, 05 Feb 2025UK£177.6bUK£64.8bUK£9.8b11.9x18.1x2.7x
Fri, 03 Jan 2025UK£169.4bUK£64.8bUK£9.7b11.6x17.4x2.6x
Sun, 01 Dec 2024UK£169.6bUK£64.6bUK£9.6b12.4x17.6x2.6x
Tue, 29 Oct 2024UK£161.8bUK£64.1bUK£9.3b12.7x17.5x2.5x
Thu, 26 Sep 2024UK£160.4bUK£64.1bUK£9.1b13.3x17.6x2.5x
Sat, 24 Aug 2024UK£156.2bUK£64.0bUK£9.0b12.7x17.4x2.4x
Mon, 22 Jul 2024UK£150.5bUK£53.9bUK£8.6b15.5x17.5x2.8x
Wed, 19 Jun 2024UK£150.3bUK£54.0bUK£8.4b16.4x17.9x2.8x
Fri, 17 May 2024UK£144.0bUK£53.1bUK£8.1b16.5x17.7x2.7x
Sun, 14 Apr 2024UK£139.9bUK£53.9bUK£8.7b15.2x16.1x2.6x
Tue, 12 Mar 2024UK£135.5bUK£56.4bUK£8.6b16.7x15.8x2.4x
Thu, 08 Feb 2024UK£130.0bUK£47.5bUK£8.7b13.9x15x2.7x
Sat, 06 Jan 2024UK£136.3bUK£48.6bUK£8.8b15.2x15.6x2.8x
Mon, 04 Dec 2023UK£133.4bUK£48.6bUK£8.8b14.6x15.2x2.7x
Wed, 01 Nov 2023UK£122.3bUK£48.7bUK£8.8b12x13.9x2.5x
Fri, 29 Sep 2023UK£127.6bUK£48.8bUK£8.8b13.4x14.4x2.6x
Sun, 27 Aug 2023UK£123.8bUK£48.7bUK£8.9b13.6x13.8x2.5x
Tue, 25 Jul 2023UK£123.7bUK£33.2bUK£8.8b14.2x14.1x3.7x
Thu, 22 Jun 2023UK£123.2bUK£30.2bUK£8.9b14.3x13.9x4.1x
Price to Earnings Ratio

13.9x


Total Market Cap: UK£123.2bTotal Earnings: UK£8.9bTotal Revenue: UK£30.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Capital Markets Industry Price to Earnings3Y Average 15x202420252026
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 11.5x which is lower than its 3-year average PE of 15.0x.
  • The 3-year average PS ratio of 2.7x 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 13% 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 Market0.98%
Financials1.40%
Capital Markets0.88%
Investment Banking and Brokerage4.44%
Asset Management1.99%
Financial Exchanges and Data-2.41%
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 63.7x.
    • Analysts are expecting annual earnings growth of 14.0%, which is lower than the prior year's growth of 55.7% per year.
  • Investors are most pessimistic about the Asset Management industry, which is trading below its 3-year average of 10.5x.
Forecasted Growth
  • Analysts are most optimistic on the Financial Exchanges and Data industry, expecting annual earnings growth of 14% over the next 5 years.
  • However this is lower than its past earnings growth rate of 56% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 5.8% 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£23.095.3%
+UK£1.2b		-43.9%PE4.4x
IGG IG Group HoldingsUK£19.385.2%
+UK£317.6m		82.1%PE12.8x
PLUS Plus500UK£48.745.7%
+UK£182.4m		42.4%PE16.2x
IIG Intuitive Investments GroupUK£2.8825.2%
+UK£139.2m		156.0%PE4.6x
TCAP TP ICAP GroupUK£3.445.3%
+UK£127.1m		33.2%PE13.5x

Latest News

III
UK£23.09
3i Group
7D
5.3%
1Y
-43.9%
IIG
UK£2.88
Intuitive Investments Group
7D
25.2%
1Y
156.0%
TCAP
UK£3.44
TP ICAP Group
7D
5.3%
1Y
33.2%
PLUS
UK£48.74
Plus500
7D
5.7%
1Y
42.4%
IGG
UK£19.38
IG Group Holdings
7D
5.2%
1Y
82.1%
Narrative Update • Jun 06

IGG: Future Revenue Execution And Volatility Exposure Will Shape Fair Value

Narrative Update IG Group Holdings' indicative fair value has moved from £14.78 to £16.85. This change is supported by analysts lifting price targets into a £1,750 to £1,850 range and citing updated assumptions for revenue growth, profit margins and future P/E multiples.
ICG
UK£17.79
ICG
7D
-1.3%
1Y
-9.4%
Narrative Update • Jun 06

ICG: Dividend Track Record And Premium P/E Outlook Will Support Future Returns

Analysts have adjusted their fair value estimate for ICG slightly higher to £24.11 from £24.05, reflecting updated assumptions around discount rates, profit margins and forward P/E multiples. Recent price target changes across the Street highlight a mix of caution on near term trading and support for the longer term earnings profile.
STJ
UK£11.73
St. James's Place
7D
-1.4%
1Y
7.7%
Narrative Update • Jun 06

STJ: Future Capital Generation And Higher P E Will Support Upside Potential

Analysts trimmed their average price target on St. James's Place by a small amount, reflecting recent mixed target moves, where cuts of £0.20 to £1.00 were partly offset by at least one increase of £2.00, and a slightly lower fair value and P/E assumption in updated models. Analyst Commentary Recent Street research on St. James's Place has focused on recalibrating price targets in light of updated assumptions and model tweaks, resulting in several cuts alongside one sizeable increase to £20.00 from Deutsche Bank.
LSEG
UK£90.10
London Stock Exchange Group
7D
-2.5%
1Y
-18.9%
ABDN
UK£2.42
Aberdeen Group
7D
2.5%
1Y
27.3%
BPT
UK£2.44
Bridgepoint Group
7D
-1.7%
1Y
-15.7%
AJB
UK£6.23
AJ Bell
7D
3.4%
1Y
27.4%
Narrative Update • Jun 01

AJB: Future Shareholder Returns Will Be Driven By Dividends And Buybacks

Analysts have lifted their fair value estimate for AJ Bell from £6.30 to £7.20, citing updated assumptions around discount rates, slightly lower revenue growth and profit margin expectations, and a higher future P/E multiple. What's in the News AJ Bell completed a share buyback program announced on 4 December 2025, repurchasing 5,887,005 shares, representing 1.46% of the company, for £27.72m between 4 December 2025 and 31 March 2026 (Key Developments).
PBEE
UK£1.32
PensionBee Group
7D
-8.0%
1Y
-18.3%
TAM
UK£5.96
Tatton Asset Management
7D
-1.3%
1Y
-8.3%
BPCR
US$0.94
BioPharma Credit
7D
-1.7%
1Y
4.2%
OCI
UK£5.16
Oakley Capital Investments
7D
-1.9%
1Y
3.8%
CGEO
UK£42.35
Georgia Capital
7D
5.9%
1Y
129.9%