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U.K. (FTSE) Capital Markets Industry Analysis

UpdatedDec 15, 2025
DataAggregated Company Financials
Companies146
  • 7D-1.4%
  • 3M-4.4%
  • 1Y-9.8%
  • YTD-9.1%

Over the last 7 days, the Capital Markets industry has dropped 2.0%, driven by 3i Group declining 3.2%. The industry has fallen 9.5% in the last year. Earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 15 Dec 2025UK£145.8bUK£55.4bUK£12.6b12.6x11.6x2.6x
Wed, 12 Nov 2025UK£164.1bUK£54.4bUK£11.6b13.7x14.2x3x
Fri, 10 Oct 2025UK£165.4bUK£55.0bUK£11.6b14.2x14.2x3x
Sun, 07 Sep 2025UK£160.0bUK£54.8bUK£11.6b12.4x13.8x2.9x
Tue, 05 Aug 2025UK£166.0bUK£55.3bUK£11.3b13.4x14.7x3x
Thu, 03 Jul 2025UK£167.2bUK£63.8bUK£10.9b13x15.4x2.6x
Sat, 31 May 2025UK£168.0bUK£63.8bUK£10.9b12.4x15.4x2.6x
Mon, 28 Apr 2025UK£165.7bUK£63.0bUK£10.2b11x16.2x2.6x
Wed, 26 Mar 2025UK£165.1bUK£62.7bUK£9.9b11.9x16.7x2.6x
Fri, 21 Feb 2025UK£178.4bUK£64.8bUK£9.8b12x18.3x2.8x
Sun, 19 Jan 2025UK£172.7bUK£64.8bUK£9.8b12x17.7x2.7x
Tue, 17 Dec 2024UK£171.2bUK£64.6bUK£9.6b11.9x17.8x2.6x
Thu, 14 Nov 2024UK£160.0bUK£64.2bUK£9.3b12x17.2x2.5x
Sat, 12 Oct 2024UK£157.9bUK£64.1bUK£9.2b12.3x17.1x2.5x
Mon, 09 Sep 2024UK£152.9bUK£64.0bUK£9.0b12.8x17.1x2.4x
Wed, 07 Aug 2024UK£147.3bUK£62.5bUK£8.8b13.8x16.7x2.4x
Fri, 05 Jul 2024UK£149.5bUK£54.0bUK£8.5b15.2x17.6x2.8x
Sun, 02 Jun 2024UK£143.8bUK£53.3bUK£8.3b16.7x17.4x2.7x
Tue, 30 Apr 2024UK£138.2bUK£53.9bUK£8.7b15.2x15.9x2.6x
Thu, 28 Mar 2024UK£140.3bUK£53.9bUK£8.7b16.9x16.1x2.6x
Sat, 24 Feb 2024UK£131.7bUK£47.6bUK£8.6b14.3x15.3x2.8x
Mon, 22 Jan 2024UK£137.0bUK£48.6bUK£8.8b15.2x15.6x2.8x
Wed, 20 Dec 2023UK£139.6bUK£48.6bUK£8.8b15.6x15.9x2.9x
Fri, 17 Nov 2023UK£129.4bUK£48.7bUK£8.9b12.6x14.6x2.7x
Sun, 15 Oct 2023UK£124.6bUK£48.7bUK£8.8b12.6x14.2x2.6x
Tue, 12 Sep 2023UK£128.0bUK£48.7bUK£9.0b14.1x14.2x2.6x
Thu, 10 Aug 2023UK£127.5bUK£48.5bUK£8.9b13.9x14.3x2.6x
Sat, 08 Jul 2023UK£118.1bUK£33.2bUK£8.8b13.8x13.4x3.6x
Mon, 05 Jun 2023UK£129.8bUK£30.3bUK£9.0b14.6x14.5x4.3x
Wed, 03 May 2023UK£127.3bUK£29.6bUK£8.2b14.6x15.6x4.3x
Fri, 31 Mar 2023UK£122.7bUK£29.5bUK£8.2b14.1x14.9x4.2x
Sun, 26 Feb 2023UK£126.7bUK£29.9bUK£9.9b14.9x12.8x4.2x
Tue, 24 Jan 2023UK£123.1bUK£30.1bUK£9.9b14.1x12.5x4.1x
Thu, 22 Dec 2022UK£118.5bUK£30.1bUK£9.9b13.6x12x3.9x
Price to Earnings Ratio

12x


Total Market Cap: UK£118.5bTotal Earnings: UK£9.9bTotal Revenue: UK£30.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Capital Markets Industry Price to Earnings3Y Average 15.4x202320242025
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 11.6x which is lower than its 3-year average PE of 15.4x.
  • The 3-year average PS ratio of 3.0x is higher than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 8.5% per year over the last three years.
  • Revenues for these companies have grown 23% 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-0.0071%
Financials1.12%
Capital Markets-1.44%
Financial Exchanges and Data-0.48%
Investment Banking and Brokerage-1.43%
Asset Management-1.91%
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 65.7x.
    • Analysts are expecting annual earnings growth of 15.9%, which is lower than the prior year's growth of 19.3% 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 16% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 4.3% 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
LSEG London Stock Exchange GroupUK£86.201.4%
+UK£512.8m		-25.1%PE44.5x
EMG Man GroupUK£2.163.9%
+UK£91.5m		2.8%PE17.4x
RCP RIT Capital PartnersUK£22.602.3%
+UK£69.1m		16.0%PE11.7x
BPT Bridgepoint GroupUK£2.851.9%
+UK£44.6m		-22.5%PE40.6x
PLUS Plus500UK£34.641.5%
+UK£36.0m		32.2%PE11.7x

Latest News

LWDB
UK£10.54
Law Debenture
7D
2.1%
1Y
17.0%

Law Debenture (LON:LWDB) Has Affirmed Its Dividend Of £0.0838

Dec 14
Law Debenture (LON:LWDB) Has Affirmed Its Dividend Of £0.0838
CGEO
UK£30.40
Georgia Capital
7D
3.8%
1Y
161.6%
AJB
UK£4.60
AJ Bell
7D
-6.1%
1Y
-2.8%
IHP
UK£3.38
IntegraFin Holdings
7D
-2.6%
1Y
-13.6%

IHP: Future Revenue Guidance Will Support Continued Market Optimism

Analysts have modestly raised their price target on IntegraFin Holdings to reflect slightly stronger expectations for revenue growth and valuation multiples, partially offset by a marginally lower projected profit margin and a higher discount rate. What's in the News Issued new revenue guidance for the fiscal year ending 30 September 2025, projecting group revenue to increase by 8% to £156.8 million, up from £144.9 million in 2024 (company guidance).
PLUS
UK£34.64
Plus500
7D
1.5%
1Y
32.2%

PLUS: Clearing Partnerships And Stable Outlook Will Support Measured Share Interest

Analysts have nudged their price target on Plus500 higher, lifting fair value by about $0.94 per share, as improving forward revenue expectations and a modest uptick in assumed growth prospects more than offset slightly lower profit margin forecasts and a higher future earnings multiple. What's in the News Plus500 was appointed clearing partner for the CME and FanDuel's new event based contracts platform, providing brokerage execution and clearing services for FanDuel Prediction Markets and showcasing its institutional grade infrastructure for event driven trading markets (Key Developments).
BPT
UK£2.85
Bridgepoint Group
7D
1.9%
1Y
-22.5%

BPT: Modest Earnings Outlook Will Support Stronger Future Share Price

Analysts have modestly raised their price target on Bridgepoint Group, reflecting slightly higher fair value estimates and a marginally richer future P/E assumption, despite only minor adjustments to growth and margin expectations. Valuation Changes The Fair Value Estimate has risen slightly from 3.87 to 3.91, indicating a modest upward revision in intrinsic value.
QLT
UK£1.78
Quilter
7D
-3.8%
1Y
14.5%

QLT: Incremental Price Increases Will Support A Cautiously Constructive Forward Outlook

Quilter's analyst price target has inched higher to about £1.87 from £1.85, as analysts cite a series of incremental target upgrades across the Street reflecting slightly improved profitability expectations and valuation multiples. Analyst Commentary Recent revisions to Quilter's price targets highlight a cautiously constructive stance from the Street, with a bias toward incremental upgrades rather than wholesale re-rating.
STJ
UK£13.29
St. James's Place
7D
-3.6%
1Y
46.9%

STJ: Incremental Price Hike Signals Firm Yet Balanced Future Return Potential

Our analyst price target for St. James's Place has been nudged higher in line with recent Street moves, with multiple analysts lifting their targets into the 1,510 GBP to 1,620 GBP range, as they cite resilient margins and a slightly richer fair value outlook despite a modestly higher discount rate. Analyst Commentary Recent Street research points to a broadly constructive stance on St. James's Place, with successive price target increases reflecting confidence in the group’s ability to sustain growth and protect profitability despite a firmer rate environment.
III
UK£31.55
3i Group
7D
-1.2%
1Y
-14.7%

III: European Discount Retail Exposure Will Drive Compounding Returns Amid Mixed Momentum

Analysts have trimmed their price target on 3i Group, reflecting a reduced fair value estimate of approximately £44.44 from about £46.07. This change factors in slightly higher discount rates, softer revenue growth assumptions, and moderating profit margins, despite continued conviction in the long term compounding potential of its core assets.
EMG
UK£2.16
Man Group
7D
3.9%
1Y
2.8%
LSEG
UK£86.20
London Stock Exchange Group
7D
1.4%
1Y
-25.1%
ICG
UK£20.54
ICG
7D
-0.9%
1Y
-5.1%

ICG: Rising Price Outlook Will Support Long-Term Upside Potential

Analysts have raised their price target on ICG from £26.12 to £26.28. This reflects slightly higher profit margin expectations and a modestly richer future valuation multiple that more than offset a small increase in the discount rate and marginally lower revenue growth assumptions.
XPS
UK£3.35
XPS Pensions Group
7D
-3.7%
1Y
-5.4%
IGG
UK£11.66
IG Group Holdings
7D
0.9%
1Y
19.2%
RCP
UK£22.60
RIT Capital Partners
7D
2.3%
1Y
16.0%

RIT Capital Partners Plc's (LON:RCP) Prospects Need A Boost To Lift Shares

Oct 02
RIT Capital Partners Plc's (LON:RCP) Prospects Need A Boost To Lift Shares
IPO
UK£0.58
IP Group
7D
-4.9%
1Y
10.9%