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U.K. (FTSE) Capital Markets Industry Analysis

UpdatedAug 10, 2026
DataAggregated Company Financials
Companies141
  • 7D2.9%
  • 3M5.9%
  • 1Y-3.6%
  • YTD4.0%

The Capital Markets industry is up 2.9% in the last week, with London Stock Exchange Group up 6.2%. During this same period, the TP ICAP Group underperformed, falling 5.1%. However, the industry is down 3.6% over the past 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, 10 Aug 2026UK£154.2bUK£94.3bUK£13.7b12.5x11.2x1.6x
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
Price to Earnings Ratio

14x


Total Market Cap: UK£125.4bTotal Earnings: UK£8.9bTotal Revenue: UK£48.7bTotal 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 11.2x 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 1.6x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 15% per year over the last three years.
  • Revenues for these companies have grown 25% 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 Market0.96%
Financials-1.00%
Capital Markets2.90%
Financial Exchanges and Data6.15%
Asset Management2.03%
Investment Banking and Brokerage-0.92%
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 62.5x.
    • Analysts are expecting annual earnings growth of 13.0%, which is lower than the prior year's growth of 36.1% per year.
  • Investors are most pessimistic about the Asset Management industry, which is trading below its 3-year average of 10.4x.
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 36% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 8.5% 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£89.205.1%
+UK£2.1b		-9.9%PE30.7x
STJ St. James's PlaceUK£11.475.6%
+UK£306.0m		-11.8%PE10.3x
ICG ICGUK£20.424.8%
+UK£254.9m		-6.2%PE11.7x
ABDN Aberdeen GroupUK£2.533.0%
+UK£132.5m		23.3%PE11.8x
AJB AJ BellUK£6.113.9%
+UK£90.6m		16.4%PE19.5x

Latest News

TCAP
UK£3.25
TP ICAP Group
7D
-5.1%
1Y
14.2%
EMG
UK£3.12
Man Group
7D
2.5%
1Y
96.7%
IGG
UK£13.43
IG Group Holdings
7D
-2.0%
1Y
17.9%
ABDN
UK£2.53
Aberdeen Group
7D
3.0%
1Y
23.3%
PLUS
UK£37.56
Plus500
7D
-1.8%
1Y
16.4%
Narrative Update • Aug 04

PLUS: Expanded Prediction Markets Will Drive Future Upside Potential

Analysts have reduced their fair value estimate for Plus500 from £57.75 to £55.04, citing slightly softer revenue growth assumptions and a marginally lower future P/E multiple. This is partly offset by a modest improvement in the expected profit margin.
LSEG
UK£89.20
London Stock Exchange Group
7D
5.1%
1Y
-9.9%
IIG
UK£2.40
Intuitive Investments Group
7D
-16.1%
1Y
101.7%
STJ
UK£11.47
St. James's Place
7D
5.6%
1Y
-11.8%
ICG
UK£20.42
ICG
7D
4.8%
1Y
-6.2%
Narrative Update • Jul 31

ICG: Rising Dividend Stream Will Support Premium Future Earnings Multiple

Analysts have nudged the ICG price target higher to £24.20 from £24.00, reflecting updated views on fair value, revenue growth assumptions, a slightly adjusted discount rate and future P/E outlook, even as profit margin expectations are moderated. Analyst Commentary Recent research on ICG shows a slight upward reset in price targets, which reflects how bullish analysts currently frame the risk and reward trade off for the stock.
SDR
UK£5.84
Schroders
7D
-0.8%
1Y
46.6%
AJB
UK£6.11
AJ Bell
7D
3.9%
1Y
16.4%
Narrative Update • Jul 29

AJB: Future Returns Will Reflect Buybacks Dividend Uplift And Steady Expectations

Analysts have lifted their price target on AJ Bell from £6.11 to £6.44. They point to updated assumptions for revenue growth, profit margins and future P/E, which they now see as slightly stronger than before.
CLDN
UK£3.86
Caledonia Investments
7D
-0.5%
1Y
2.7%
CGEO
UK£44.00
Georgia Capital
7D
7.3%
1Y
87.2%
ASHM
UK£2.25
Ashmore Group
7D
6.5%
1Y
28.0%
Narrative Update • Jul 06

ASHM: Higher Revenue Outlook And Richer P/E Will Temper Margin Concerns

Ashmore Group's analyst price target has been lifted to £1.50 from £1.45. Analysts attribute the change to updated assumptions for higher revenue growth expectations, a slightly adjusted discount rate, a lower projected profit margin, and a higher future P/E multiple.
PINT
UK£1.12
Pantheon Infrastructure
7D
-1.6%
1Y
4.5%
SIHL
US$0.36
Symphony International Holdings
7D
-9.9%
1Y
-11.2%