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U.K. (FTSE) Capital Markets Industry Analysis

UpdatedJul 08, 2026
DataAggregated Company Financials
Companies141
  • 7D6.0%
  • 3M5.5%
  • 1Y-5.2%
  • YTD3.7%

The Capital Markets industry is up 6.0% in the last week, with London Stock Exchange Group up 11%. In the past year, the industry is down 5.2%. Earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 08 Jul 2026UK£154.4bUK£74.2bUK£13.0b13x11.8x2.1x
Fri, 05 Jun 2026UK£147.2bUK£73.9bUK£12.8b12.5x11.5x2x
Sun, 03 May 2026UK£150.5bUK£74.9bUK£13.9b12.9x10.9x2x
Tue, 31 Mar 2026UK£138.7bUK£75.0bUK£14.0b12.9x9.9x1.9x
Thu, 26 Feb 2026UK£148.5bUK£56.1bUK£12.8b14x11.6x2.6x
Sat, 24 Jan 2026UK£153.6bUK£55.3bUK£12.6b14.5x12.2x2.8x
Mon, 22 Dec 2025UK£151.3bUK£55.4bUK£12.6b13x12x2.7x
Wed, 19 Nov 2025UK£149.0bUK£55.9bUK£12.8b13x11.6x2.7x
Fri, 17 Oct 2025UK£163.4bUK£55.0bUK£11.6b14.2x14.1x3x
Sun, 14 Sep 2025UK£156.6bUK£54.8bUK£11.6b12.8x13.5x2.9x
Tue, 12 Aug 2025UK£167.3bUK£54.8bUK£11.6b13.4x14.4x3.1x
Thu, 10 Jul 2025UK£169.5bUK£63.7bUK£10.9b13.2x15.6x2.7x
Sat, 07 Jun 2025UK£171.6bUK£63.7bUK£10.9b12.6x15.8x2.7x
Mon, 05 May 2025UK£168.3bUK£62.9bUK£10.1b12.5x16.7x2.7x
Wed, 02 Apr 2025UK£163.9bUK£63.2bUK£10.2b11.6x16x2.6x
Fri, 28 Feb 2025UK£177.2bUK£64.1bUK£10.3b12x17.2x2.8x
Sun, 26 Jan 2025UK£174.5bUK£64.8bUK£9.8b11.6x17.8x2.7x
Tue, 24 Dec 2024UK£166.9bUK£64.8bUK£9.7b11.6x17.1x2.6x
Thu, 21 Nov 2024UK£163.5bUK£64.6bUK£9.6b12x17x2.5x
Sat, 19 Oct 2024UK£163.9bUK£64.1bUK£9.3b13.1x17.7x2.6x
Mon, 16 Sep 2024UK£157.4bUK£64.0bUK£9.0b12.8x17.6x2.5x
Wed, 14 Aug 2024UK£152.6bUK£64.2bUK£9.2b13.2x16.7x2.4x
Fri, 12 Jul 2024UK£151.2bUK£54.0bUK£8.5b15.7x17.8x2.8x
Sun, 09 Jun 2024UK£147.8bUK£54.0bUK£8.4b16.3x17.6x2.7x
Tue, 07 May 2024UK£141.4bUK£53.9bUK£8.8b16.2x16.1x2.6x
Thu, 04 Apr 2024UK£139.4bUK£53.8bUK£8.6b16.4x16.1x2.6x
Sat, 02 Mar 2024UK£132.2bUK£54.0bUK£8.5b15x15.6x2.5x
Mon, 29 Jan 2024UK£139.1bUK£48.6bUK£8.7b15.1x16x2.9x
Wed, 27 Dec 2023UK£140.8bUK£48.6bUK£8.8b15.7x16x2.9x
Fri, 24 Nov 2023UK£132.0bUK£48.6bUK£8.8b13.8x15x2.7x
Sun, 22 Oct 2023UK£122.6bUK£48.7bUK£8.8b12.5x13.9x2.5x
Tue, 19 Sep 2023UK£128.1bUK£48.7bUK£8.9b13.7x14.5x2.6x
Thu, 17 Aug 2023UK£125.4bUK£48.7bUK£8.9b13.7x14x2.6x
Sat, 15 Jul 2023UK£118.8bUK£33.2bUK£8.8b13.8x13.5x3.6x
Price to Earnings Ratio

13.5x


Total Market Cap: UK£118.8bTotal Earnings: UK£8.8bTotal Revenue: UK£33.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Capital Markets Industry Price to Earnings3Y Average 14.9x202420252026
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 11.8x which is lower than its 3-year average PE of 14.9x.
  • The 3-year average PS ratio of 2.6x is higher than the industry's current PS ratio of 2.1x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 14% per year over the last three years.
  • Revenues for these companies have grown 31% 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 Market1.55%
Financials2.93%
Capital Markets6.00%
Financial Exchanges and Data10.59%
Investment Banking and Brokerage6.44%
Asset Management3.81%
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 63.2x.
    • Analysts are expecting annual earnings growth of 14.1%, 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 6.8% 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
LSEG London Stock Exchange GroupUK£90.3410.7%
+UK£4.2b		-16.9%PE35.2x
III 3i GroupUK£26.245.6%
+UK£1.4b		-37.5%PE5x
CMCX CMC MarketsUK£7.0052.8%
+UK£652.7m		181.7%PE25.4x
STJ St. James's PlaceUK£13.047.6%
+UK£468.1m		10.0%PE12.5x
BPT Bridgepoint GroupUK£2.9211.3%
+UK£259.9m		-9.4%PE61.8x

Latest News

LSEG
UK£90.34
London Stock Exchange Group
7D
10.7%
1Y
-16.9%
QLT
UK£2.05
Quilter
7D
6.6%
1Y
29.9%
Narrative Update • Jul 03

QLT: Higher Margin Outlook And Outperform Ratings Should Support Future Repricing

The updated analyst price target for Quilter has been revised to £2.44 from £2.25. This follows recent Street research in which several firms raised their targets into the £1.80 to £2.30 range and cited supportive views on margins and valuation assumptions.
LIO
UK£3.29
Liontrust Asset Management
7D
-6.0%
1Y
-9.6%
Narrative Update • Jul 03

LIO: Dividend Cut Will Sustain Share Overvaluation

Analysts have lifted their fair value estimate for Liontrust Asset Management from £1.85 to £2.10, citing adjustments to revenue decline expectations, profit margins and the assumed future P/E multiple. What’s in the News for Liontrust Asset Management The Board of Liontrust Asset Management declared a second interim dividend of 12.0 pence per share for the financial year ended 31 March 2026, compared with 50.0 pence per share in 2025.
CMCX
UK£7.00
CMC Markets
7D
52.8%
1Y
181.7%
BPT
UK£2.92
Bridgepoint Group
7D
11.3%
1Y
-9.4%
III
UK£26.24
3i Group
7D
5.6%
1Y
-37.5%
ABDN
UK£2.52
Aberdeen Group
7D
6.0%
1Y
34.0%
Narrative Update • Jun 29

ABDN: Future Returns Will Depend On Margin Delivery As Broker Views Diverge

The Analyst Price Target for Aberdeen Group has been raised to £2.24 from £2.15, reflecting analysts' updated views after a series of recent price target increases and upgrades across the Street. Analyst Commentary Recent Street research on Aberdeen Group presents a mix of optimism and caution, with several high profile banks adjusting price targets and ratings in quick succession.
ICG
UK£17.65
ICG
7D
4.5%
1Y
-9.4%
Narrative Update • Jun 26

ICG: Dividend Reliability Will Support Premium Earnings Multiple Going Forward

The analyst price target for ICG has been reduced by £1.00 to reflect updated views on revenue growth, profit margins and the appropriate P/E multiple, with analysts citing recent target cuts from the Street as key inputs to their revised valuation work. Analyst Commentary Recent Street research around ICG highlights a mixed but still constructive backdrop, with price targets adjusted to reflect updated assumptions on earnings power and the P/E multiple.
IPO
UK£0.65
IP Group
7D
-1.4%
1Y
16.8%
STJ
UK£13.04
St. James's Place
7D
7.6%
1Y
10.0%
Narrative Update • Jun 23

STJ: Higher Future P E And Stable Fair Value Will Support Upside

St. James's Place enters this Narrative Update with a slightly adjusted analyst price target, reflecting a mix of lowered targets from Citi and JPMorgan, as well as a higher £2,000 target from Deutsche Bank, as analysts reassess the stock using a modestly higher discount rate and steady fair value assumptions. Analyst Commentary Analyst updates on St. James's Place have recently centred on a series of adjusted price targets, with some firms trimming their expectations and others lifting them.
SDR
UK£5.87
Schroders
7D
-0.2%
1Y
55.4%
Narrative Update • Jun 22

SDR: Citi Downgrade And Weaker Outlook Will Pressure Future Share Price

Analysts have adjusted their Schroders fair value estimate from £3.76 to £3.84, citing updated assumptions on discount rates, profit margins and future P/E multiples following recent research that included a downgrade at Citi. What’s in the News for Schroders Shareholders at Schroders approved amendments to the company’s Articles of Association at a Court Meeting and General Meeting held on April 16, 2026, as reported in Key Developments.
TAM
UK£7.28
Tatton Asset Management
7D
-2.2%
1Y
4.6%
IIG
UK£2.92
Intuitive Investments Group
7D
-4.3%
1Y
141.3%
ORIT
UK£0.62
Octopus Renewables Infrastructure Trust
7D
-5.5%
1Y
-15.1%
SIHL
US$0.38
Symphony International Holdings
7D
-5.1%
1Y
6.5%
RCP
UK£22.75
RIT Capital Partners
7D
-0.7%
1Y
17.6%