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U.K. (FTSE) Capital Markets Industry Analysis

UpdatedJul 22, 2026
DataAggregated Company Financials
Companies140
  • 7D-2.5%
  • 3M-3.5%
  • 1Y-9.1%
  • YTD0.2%

Over the last 7 days, the Capital Markets industry has dropped 2.5%, driven by London Stock Exchange Group declining 4.2%. Overall the industry is down 9.1% in 12 months. Looking forward, earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Jul 2026UK£148.8bUK£74.3bUK£13.0b12x11.5x2x
Fri, 19 Jun 2026UK£144.2bUK£74.2bUK£13.0b12.3x11.1x1.9x
Sun, 17 May 2026UK£144.8bUK£73.9bUK£12.9b12.9x11.2x2x
Tue, 14 Apr 2026UK£151.6bUK£74.9bUK£13.9b14.1x10.9x2x
Thu, 12 Mar 2026UK£146.3bUK£74.5bUK£13.6b13.7x10.8x2x
Sat, 07 Feb 2026UK£147.8bUK£55.3bUK£12.6b14.7x11.8x2.7x
Mon, 05 Jan 2026UK£151.1bUK£55.3bUK£12.6b13.1x12x2.7x
Wed, 03 Dec 2025UK£149.9bUK£56.4bUK£13.3b13x11.3x2.7x
Fri, 31 Oct 2025UK£170.0bUK£54.7bUK£11.7b14.4x14.6x3.1x
Sun, 28 Sep 2025UK£157.2bUK£55.0bUK£11.6b12.6x13.5x2.9x
Tue, 26 Aug 2025UK£165.3bUK£54.8bUK£11.6b13.6x14.3x3x
Thu, 24 Jul 2025UK£171.4bUK£63.8bUK£10.8b13.5x15.8x2.7x
Sat, 21 Jun 2025UK£165.5bUK£63.8bUK£10.9b12.7x15.2x2.6x
Mon, 19 May 2025UK£168.1bUK£63.8bUK£10.9b12x15.4x2.6x
Wed, 16 Apr 2025UK£163.2bUK£63.2bUK£10.2b10.8x16x2.6x
Fri, 14 Mar 2025UK£167.9bUK£63.5bUK£10.3b11.6x16.3x2.6x
Sun, 09 Feb 2025UK£177.8bUK£64.8bUK£9.8b12x18.2x2.7x
Tue, 07 Jan 2025UK£168.7bUK£64.8bUK£9.7b11.6x17.3x2.6x
Thu, 05 Dec 2024UK£171.1bUK£64.6bUK£9.6b12.3x17.8x2.6x
Sat, 02 Nov 2024UK£160.0bUK£64.1bUK£9.3b12.9x17.2x2.5x
Mon, 30 Sep 2024UK£161.8bUK£64.0bUK£9.2b12.9x17.5x2.5x
Wed, 28 Aug 2024UK£156.5bUK£64.0bUK£9.0b12.8x17.5x2.4x
Fri, 26 Jul 2024UK£149.1bUK£54.0bUK£8.6b15.1x17.3x2.8x
Sun, 23 Jun 2024UK£152.4bUK£54.1bUK£8.5b15.7x18x2.8x
Tue, 21 May 2024UK£144.4bUK£53.1bUK£8.1b16.7x17.8x2.7x
Thu, 18 Apr 2024UK£138.0bUK£53.9bUK£8.7b15x15.8x2.6x
Sat, 16 Mar 2024UK£136.1bUK£53.5bUK£8.4b16.8x16.2x2.5x
Mon, 12 Feb 2024UK£130.8bUK£47.5bUK£8.7b14x15.1x2.8x
Wed, 10 Jan 2024UK£136.4bUK£48.6bUK£8.8b15.2x15.6x2.8x
Fri, 08 Dec 2023UK£135.7bUK£48.6bUK£8.8b14.9x15.4x2.8x
Sun, 05 Nov 2023UK£125.7bUK£48.5bUK£8.8b12.4x14.3x2.6x
Tue, 03 Oct 2023UK£127.8bUK£48.7bUK£8.8b12.7x14.5x2.6x
Thu, 31 Aug 2023UK£125.7bUK£48.7bUK£9.0b13.8x14x2.6x
Sat, 29 Jul 2023UK£129.8bUK£45.6bUK£9.0b13.9x14.4x2.8x
Price to Earnings Ratio

14.4x


Total Market Cap: UK£129.8bTotal Earnings: UK£9.0bTotal Revenue: UK£45.6bTotal 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 11.5x 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 2.0x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 13% per year over the last three years.
  • Revenues for these companies have grown 18% 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 Market0.56%
Financials0.42%
Capital Markets-2.54%
Investment Banking and Brokerage-1.66%
Asset Management-2.02%
Financial Exchanges and Data-3.92%
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 62.9x.
    • Analysts are expecting annual earnings growth of 14.3%, 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 7.1% 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£18.473.2%
+UK£156.9m		-12.5%PE10.6x
RCP RIT Capital PartnersUK£25.654.5%
+UK£148.3m		34.6%PE7.5x
BPT Bridgepoint GroupUK£3.095.4%
+UK£138.2m		-2.5%PE96.4x
IHP IntegraFin HoldingsUK£3.924.7%
+UK£58.0m		5.8%PE20.6x
AJB AJ BellUK£6.051.9%
+UK£45.3m		16.0%PE19.4x

Latest News

LSEG
UK£86.00
London Stock Exchange Group
7D
-4.2%
1Y
-18.5%
PLUS
UK£40.78
Plus500
7D
-4.0%
1Y
22.1%
Narrative Update • Jul 21

PLUS: Expanded Trading Access Will Likely Exceed Sustainable Earnings Power

Analysts have raised their fair value estimate for Plus500 from £27.58 to £34.75, citing updated assumptions for revenue growth, profit margin and a slightly higher future P/E multiple. What’s in the News for Plus500 Plus500 has launched CFTC regulated Kalshi sports event based contracts in the US through its proprietary futures trading platform, giving US retail customers access to regulated prediction markets on sporting outcomes.
BPT
UK£3.09
Bridgepoint Group
7D
5.4%
1Y
-2.5%
ICG
UK£18.47
ICG
7D
3.2%
1Y
-12.5%
Narrative Update • Jul 17

ICG: Rising Dividend Streak And Firm P/E Support Will Drive Future Returns

The analyst price target for ICG has been adjusted modestly higher, moving from £24.11 to £24.86. Analysts attribute this change to updated assumptions on discount rates, profitability and P/E expectations, as well as recent mixed price target revisions in Street research.
EMG
UK£2.94
Man Group
7D
-3.0%
1Y
62.8%
Narrative Update • Jul 14

EMG: Future P/E And Abu Dhabi Office Plans Will Shape Balanced Outlook

The analyst price target for Man Group has moved higher, with recent Street estimates rising from £2.85 to a range of about £3.10 to £3.50. This reflects analysts factoring in updated fair value, revenue growth and P/E assumptions, while viewing the stock as closer to fairly priced.
ABDN
UK£2.46
Aberdeen Group
7D
-2.8%
1Y
24.2%
Narrative Update • Jul 13

ABDN: Future Returns Will Hinge On Margin Delivery And Mixed Broker Views

The analyst price target for Aberdeen Group has been raised by £0.15 to £2.80, with analysts pointing to updated expectations for revenue, margins and a slightly adjusted discount rate in their revised outlook. Analyst Commentary Recent research on Aberdeen Group points to a generally constructive stance, with several firms revising price targets higher and a smaller number trimming expectations.
IHP
UK£3.92
IntegraFin Holdings
7D
4.7%
1Y
5.8%
Narrative Update • Jul 10

IHP: Rising Interim Dividend Will Support A More Optimistic Future Outlook

Analysts have modestly raised their fair value estimate for IntegraFin Holdings to £5.0, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What’s in the News for IntegraFin Holdings IntegraFin Holdings declared a first interim dividend of 3.8 pence per share for the six months ended 31 March 2026, compared with 3.3 pence per share for the half year of 2025.
CMCX
UK£7.00
CMC Markets
7D
-5.4%
1Y
194.1%
Narrative Update • Jul 09

CMCX: Future Returns Will Depend On Delivering High-End Operating Income

Analysts have raised their price expectations for CMC Markets, with recent upgrades citing higher assumed revenue growth, slightly better profit margins and new price targets of up to £7.00, supported by expectations for stronger operating income and new revenue-generating partnerships. Analyst Commentary Recent research on CMC Markets points to a more constructive tone, with bullish analysts raising price targets and focusing on execution around operating income and new partnerships.
STJ
UK£10.67
St. James's Place
7D
-7.6%
1Y
-10.5%
Narrative Update • Jul 07

STJ: Supportive Research Coverage Will Drive Future Upside From Current Levels

The analyst fair value estimate for St. James's Place has been raised modestly to £16.99 from £16.41, reflecting updated views from analysts who cite recent price target revisions and supportive research coverage as key drivers of this change. Analyst Commentary Recent Street research on St. James's Place shows a mix of optimism around long term potential and caution around near term execution, with a series of price target revisions and fresh coverage feeding into the updated fair value estimate.
FSG
UK£4.89
Foresight Group Holdings
7D
7.2%
1Y
7.5%
Narrative Update • Jul 07

FSG: Share Buybacks Will Support Future Upside Potential

Analysts have lifted their price target for Foresight Group Holdings to £7.68 from £7.00, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E, which together support a slightly higher estimated fair value. What's in the News Foresight Group Holdings updated investors on its share buyback activity, confirming a Buyback Tranche Update as a recent key development.
CGEO
UK£40.25
Georgia Capital
7D
-8.2%
1Y
90.8%
III
UK£25.03
3i Group
7D
-5.2%
1Y
-41.5%
AJB
UK£6.05
AJ Bell
7D
1.9%
1Y
16.0%
Narrative Update • Jun 29

AJB: Future Returns Will Balance Buybacks Dividend Growth And Moderated Expectations

Analysts have raised their price target for AJ Bell to £6.11, up from a previous fair value of £5.41. They cite updated assumptions on discount rate, revenue growth, profit margin and future P/E as the main drivers of the change.
IPO
UK£0.66
IP Group
7D
4.6%
1Y
15.7%
LWDB
UK£12.28
Law Debenture
7D
1.0%
1Y
23.9%
RCP
UK£25.65
RIT Capital Partners
7D
4.5%
1Y
34.6%