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U.K. (FTSE) Capital Markets Industry Analysis

UpdatedAug 06, 2026
DataAggregated Company Financials
Companies141
  • 7D-0.8%
  • 3M3.2%
  • 1Y-4.1%
  • YTD3.6%

Over the last 7 days, the Capital Markets industry has dropped 2.2%, driven by a pullback from London Stock Exchange Group of 6.2%. Meanwhile, ICG actually outperformed within the industry, gaining 7.3% in the last week. However, the industry is down 4.0% over the past year. 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
Thu, 06 Aug 2026UK£153.6bUK£89.9bUK£13.5b12.7x11.4x1.7x
Sat, 04 Jul 2026UK£152.8bUK£74.2bUK£13.0b13x11.7x2.1x
Mon, 01 Jun 2026UK£147.5bUK£73.8bUK£12.8b12.9x11.5x2x
Wed, 29 Apr 2026UK£151.7bUK£74.9bUK£13.9b12.9x10.9x2x
Fri, 27 Mar 2026UK£138.0bUK£74.9bUK£13.9b13.3x9.9x1.8x
Sun, 22 Feb 2026UK£151.1bUK£55.7bUK£12.8b14.2x11.8x2.7x
Tue, 20 Jan 2026UK£155.9bUK£55.4bUK£12.6b13.9x12.4x2.8x
Thu, 18 Dec 2025UK£149.5bUK£55.4bUK£12.6b12.8x11.9x2.7x
Sat, 15 Nov 2025UK£152.0bUK£55.9bUK£12.8b13.4x11.9x2.7x
Mon, 13 Oct 2025UK£164.8bUK£55.0bUK£11.6b13.9x14.2x3x
Wed, 10 Sep 2025UK£157.8bUK£54.8bUK£11.6b12.6x13.6x2.9x
Fri, 08 Aug 2025UK£166.4bUK£54.9bUK£11.6b13.4x14.3x3x
Sun, 06 Jul 2025UK£166.8bUK£63.7bUK£10.9b12.7x15.4x2.6x
Tue, 03 Jun 2025UK£168.4bUK£63.7bUK£10.9b12.4x15.5x2.6x
Thu, 01 May 2025UK£167.3bUK£63.1bUK£10.2b11.1x16.4x2.7x
Sat, 29 Mar 2025UK£165.3bUK£62.7bUK£9.9b12x16.7x2.6x
Mon, 24 Feb 2025UK£177.9bUK£64.8bUK£9.8b12x18.2x2.7x
Wed, 22 Jan 2025UK£174.2bUK£64.8bUK£9.7b11.9x17.9x2.7x
Fri, 20 Dec 2024UK£168.4bUK£64.8bUK£9.7b11.7x17.3x2.6x
Sun, 17 Nov 2024UK£161.6bUK£64.6bUK£9.6b12.1x16.9x2.5x
Tue, 15 Oct 2024UK£158.0bUK£64.1bUK£9.2b12.3x17.1x2.5x
Thu, 12 Sep 2024UK£154.5bUK£64.0bUK£9.0b12.7x17.2x2.4x
Sat, 10 Aug 2024UK£150.7bUK£64.2bUK£9.2b13.2x16.4x2.3x
Mon, 08 Jul 2024UK£149.8bUK£54.0bUK£8.5b15.4x17.6x2.8x
Wed, 05 Jun 2024UK£148.2bUK£54.0bUK£8.4b16.7x17.7x2.7x
Fri, 03 May 2024UK£139.9bUK£53.9bUK£8.8b15.8x15.9x2.6x
Sun, 31 Mar 2024UK£140.0bUK£53.8bUK£8.6b16.8x16.2x2.6x
Tue, 27 Feb 2024UK£131.3bUK£47.6bUK£8.5b14.1x15.4x2.8x
Thu, 25 Jan 2024UK£138.3bUK£48.7bUK£8.8b15x15.7x2.8x
Sat, 23 Dec 2023UK£140.7bUK£48.6bUK£8.8b15.7x16x2.9x
Mon, 20 Nov 2023UK£130.5bUK£48.6bUK£8.8b13.6x14.8x2.7x
Wed, 18 Oct 2023UK£125.6bUK£48.7bUK£8.8b12.7x14.3x2.6x
Fri, 15 Sep 2023UK£128.7bUK£48.8bUK£9.0b14x14.3x2.6x
Sun, 13 Aug 2023UK£126.7bUK£48.5bUK£8.9b14x14.2x2.6x
Price to Earnings Ratio

14.2x


Total Market Cap: UK£126.7bTotal Earnings: UK£8.9bTotal Revenue: UK£48.5bTotal 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 11.3x 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 1.7x.
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 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 Market0.33%
Financials0.72%
Capital Markets-0.83%
Asset Management2.82%
Financial Exchanges and Data-5.95%
Investment Banking and Brokerage-7.52%
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 62.6x.
    • 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 8.0% 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
ICG ICGUK£20.487.3%
+UK£383.7m		-4.7%PE11.7x
STJ St. James's PlaceUK£11.366.7%
+UK£361.6m		-15.9%PE10.2x
ABDN Aberdeen GroupUK£2.546.9%
+UK£293.7m		26.1%PE11.9x
BPT Bridgepoint GroupUK£3.429.9%
+UK£270.4m		2.9%PE106.7x
III 3i GroupUK£29.220.9%
+UK£250.5m		-28.4%PE5.5x

Latest News

ORIT
UK£0.61
Octopus Renewables Infrastructure Trust
7D
-1.8%
1Y
-12.5%
ABDN
UK£2.54
Aberdeen Group
7D
6.9%
1Y
26.1%
IGG
UK£13.50
IG Group Holdings
7D
-20.1%
1Y
19.4%
Narrative Update • Aug 05

IGG: Rising Earnings Multiples Will Support A Richer Future Share Rating

IG Group Holdings moves into this narrative update with a higher fair value estimate of £25.84 from £24.18, reflecting analysts' increased price targets up to £20.00. These targets are supported by their revised assumptions on discount rates, revenue growth, profit margins and future P/E expectations.
PLUS
UK£39.16
Plus500
7D
-4.8%
1Y
15.0%
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£86.28
London Stock Exchange Group
7D
-6.2%
1Y
-14.6%
RCP
UK£26.00
RIT Capital Partners
7D
3.6%
1Y
33.5%
QLT
UK£2.03
Quilter
7D
4.5%
1Y
23.9%
Narrative Update • Aug 01

QLT: Updated Market Views And Execution Risks Will Shape A Balanced Outlook

Quilter's updated analyst price target has moved modestly higher to reflect a new fair value estimate of about £2.12 per share, supported by recent Street research in which analysts have set price objectives in the £1.80 to £2.30 range and cited adjusted discount rate, revenue growth and profit margin assumptions, along with a slightly higher future P/E multiple. Analyst Commentary Recent Street commentary on Quilter points to a mix of optimism and caution around valuation, growth potential and execution.
TAM
UK£7.10
Tatton Asset Management
7D
-1.4%
1Y
-1.7%
STJ
UK£11.36
St. James's Place
7D
6.7%
1Y
-15.9%
ICG
UK£20.48
ICG
7D
7.3%
1Y
-4.7%
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.
BPT
UK£3.42
Bridgepoint Group
7D
9.9%
1Y
2.9%
POLN
UK£8.40
Pollen Street Group
7D
-2.3%
1Y
-0.5%
Narrative Update • Jul 29

POLN: Higher Revenue Outlook Will Support Stronger Future Earnings Power

Analysts have revised their price target for Pollen Street Group to £10.46 to reflect updated views on the discount rate, revenue growth, profit margin and future P/E assumptions, while keeping the overall fair value estimate unchanged at £10.46. What’s in the News for Pollen Street Group No recent company specific news for Pollen Street Group is available from the listed sources as of 29 July 2026.
CMCX
UK£6.97
CMC Markets
7D
-0.6%
1Y
203.7%
III
UK£29.22
3i Group
7D
0.9%
1Y
-28.4%
CGEO
UK£43.30
Georgia Capital
7D
9.8%
1Y
93.3%
SIHL
US$0.36
Symphony International Holdings
7D
-9.6%
1Y
-10.3%