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U.K. (FTSE) Capital Markets Industry Analysis

UpdatedAug 29, 2026
DataAggregated Company Financials
Companies137
  • 7D1.4%
  • 3M5.1%
  • 1Y-0.2%
  • YTD4.1%

In the last week, the Capital Markets industry is up 1.4%, with London Stock Exchange Group up 4.6%. Overall in the last year, the industry is flat. Looking forward, 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
Sun, 30 Aug 2026UK£151.9bUK£93.9bUK£13.7b12.3x11.1x1.6x
Tue, 28 Jul 2026UK£154.0bUK£74.4bUK£13.0b11.8x11.8x2.1x
Thu, 25 Jun 2026UK£143.6bUK£74.2bUK£13.0b11.9x11x1.9x
Sat, 23 May 2026UK£149.8bUK£73.7bUK£12.7b13.3x11.8x2x
Mon, 20 Apr 2026UK£155.1bUK£74.9bUK£13.9b14x11.2x2.1x
Wed, 18 Mar 2026UK£149.3bUK£74.8bUK£13.7b13.8x10.9x2x
Fri, 13 Feb 2026UK£147.5bUK£55.3bUK£12.6b14.1x11.7x2.7x
Sun, 11 Jan 2026UK£152.2bUK£55.4bUK£12.6b13.6x12.1x2.8x
Tue, 09 Dec 2025UK£147.1bUK£55.4bUK£12.6b12.5x11.7x2.7x
Thu, 06 Nov 2025UK£168.9bUK£54.5bUK£11.6b14.7x14.6x3.1x
Sat, 04 Oct 2025UK£165.0bUK£55.0bUK£11.6b14.1x14.2x3x
Mon, 01 Sep 2025UK£161.6bUK£54.8bUK£11.6b13x14x2.9x
Wed, 30 Jul 2025UK£166.5bUK£64.0bUK£10.9b13.3x15.2x2.6x
Fri, 27 Jun 2025UK£167.5bUK£63.7bUK£10.8b12.5x15.5x2.6x
Sun, 25 May 2025UK£168.5bUK£63.7bUK£10.9b12.4x15.5x2.6x
Tue, 22 Apr 2025UK£162.2bUK£63.1bUK£10.2b11.1x15.9x2.6x
Thu, 20 Mar 2025UK£169.7bUK£63.5bUK£10.2b11.9x16.6x2.7x
Sat, 15 Feb 2025UK£178.7bUK£64.8bUK£9.8b11.8x18.3x2.8x
Mon, 13 Jan 2025UK£167.4bUK£64.8bUK£9.8b11.4x17.2x2.6x
Wed, 11 Dec 2024UK£168.9bUK£64.6bUK£9.6b12.2x17.6x2.6x
Fri, 08 Nov 2024UK£162.6bUK£64.1bUK£9.3b12.5x17.5x2.5x
Sun, 06 Oct 2024UK£158.9bUK£64.1bUK£9.3b13x17.2x2.5x
Tue, 03 Sep 2024UK£155.2bUK£64.1bUK£9.0b12.6x17.3x2.4x
Thu, 01 Aug 2024UK£153.9bUK£62.0bUK£8.7b14.4x17.6x2.5x
Sat, 29 Jun 2024UK£149.2bUK£54.1bUK£8.5b15x17.6x2.8x
Mon, 27 May 2024UK£146.1bUK£53.2bUK£8.2b17.1x17.8x2.7x
Wed, 24 Apr 2024UK£138.1bUK£53.9bUK£8.7b15.1x15.8x2.6x
Fri, 22 Mar 2024UK£139.4bUK£53.5bUK£8.4b16.7x16.6x2.6x
Sun, 18 Feb 2024UK£132.5bUK£47.5bUK£8.7b14x15.3x2.8x
Tue, 16 Jan 2024UK£137.7bUK£48.6bUK£8.8b15.5x15.7x2.8x
Thu, 14 Dec 2023UK£138.1bUK£48.6bUK£8.8b15x15.7x2.8x
Sat, 11 Nov 2023UK£126.9bUK£48.5bUK£8.7b12.7x14.6x2.6x
Mon, 09 Oct 2023UK£125.8bUK£48.7bUK£8.8b12.6x14.3x2.6x
Wed, 06 Sep 2023UK£125.0bUK£48.6bUK£8.9b14.2x14x2.6x
Price to Earnings Ratio

14x


Total Market Cap: UK£125.0bTotal Earnings: UK£8.9bTotal Revenue: UK£48.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Capital Markets Industry Price to Earnings3Y Average 14.8x202420252026
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 11.1x which is lower than its 3-year average PE of 14.8x.
  • 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 Market0.12%
Financials0.64%
Capital Markets1.40%
Financial Exchanges and Data4.53%
Investment Banking and Brokerage2.64%
Asset Management-0.24%
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 61.8x.
    • Analysts are expecting annual earnings growth of 13.1%, 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 7.9% 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£90.004.6%
+UK£1.9b		-1.8%PE30.8x
IGG IG Group HoldingsUK£14.004.9%
+UK£218.2m		23.9%PE9.4x
ABDN Aberdeen GroupUK£2.523.9%
+UK£168.3m		29.5%PE11.8x
TCAP TP ICAP GroupUK£3.454.7%
+UK£113.9m		24.3%PE13.2x
PLUS Plus500UK£37.742.7%
+UK£68.0m		24.5%PE12.5x

Latest News

TCAP
UK£3.45
TP ICAP Group
7D
4.7%
1Y
24.3%
LSEG
UK£90.00
London Stock Exchange Group
7D
4.6%
1Y
-1.8%
PLUS
UK£37.74
Plus500
7D
2.7%
1Y
24.5%
CMCX
UK£7.32
CMC Markets
7D
-1.5%
1Y
233.5%
EMG
UK£3.09
Man Group
7D
1.7%
1Y
89.0%
Narrative Update • Aug 26

EMG: Future P/E And Execution On Flows Will Shape Balanced Outlook

Analysts have lifted the Man Group fair value estimate from £2.89 to £3.26, reflecting higher published price targets across the Street and updated assumptions on margins, the discount rate and future P/E multiples. Analyst Commentary Recent Street research on Man Group shows a mix of optimism on the share price potential and some clear points of caution.
SHR
US$17.30
Shaires Holdings
7D
-29.4%
1Y
n/a
ABDN
UK£2.52
Aberdeen Group
7D
3.9%
1Y
29.5%
Narrative Update • Aug 24

ABDN: Elevated P E And Margin Pressure Will Restrain Share Upside

The latest Narrative Update for Aberdeen Group reflects a revised analyst price target of £2.08 from £1.86, with analysts pointing to gradual adjustments in the discount rate, revenue trends, profit margin assumptions and future P/E expectations. Analyst Commentary Recent research on Aberdeen Group shows a series of price target revisions that highlight both support for the stock and some emerging caution.
HICL
UK£1.37
HICL Infrastructure
7D
-2.1%
1Y
14.7%
IGG
UK£14.00
IG Group Holdings
7D
4.9%
1Y
23.9%
Narrative Update • Aug 19

IGG: Future Upside Hinges On Buybacks And Interest Income Execution

The analyst price target for IG Group Holdings has been raised from £17.50 to £20.00. Analysts attribute this change to updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E.
AC8
UK£0.81
Intuitive Investments Group
7D
-7.4%
1Y
n/a
RCP
UK£25.65
RIT Capital Partners
7D
-0.6%
1Y
30.9%
GROW
UK£7.07
Molten Ventures
7D
4.1%
1Y
97.6%
III
UK£28.28
3i Group
7D
-2.2%
1Y
-29.6%
N91
UK£2.14
Ninety One Group
7D
-0.6%
1Y
13.0%
CLDN
UK£3.97
Caledonia Investments
7D
2.8%
1Y
8.5%
ASHM
UK£2.24
Ashmore Group
7D
-0.8%
1Y
25.8%
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.