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U.K. (FTSE) Capital Markets Industry Analysis

UpdatedJun 19, 2026
DataAggregated Company Financials
Companies140
  • 7D-1.1%
  • 3M1.4%
  • 1Y-9.1%
  • YTD-3.1%

Over the last 7 days, the Capital Markets industry has dropped 1.1%, driven by a pullback from London Stock Exchange Group of 5.8%. In contrast, Man Group has gained 6.2%. The industry has fallen 9.1% in the last 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
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
Mon, 26 Jun 2023UK£120.6bUK£30.3bUK£8.9b14.1x13.5x4x
Price to Earnings Ratio

13.5x


Total Market Cap: UK£120.6bTotal Earnings: UK£8.9bTotal Revenue: UK£30.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Capital Markets Industry Price to Earnings3Y Average 15x202420252026
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 15.0x.
  • The 3-year average PS ratio of 2.7x is higher than the industry's current PS ratio of 1.9x.
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 35% 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 Market0.86%
Financials6.17%
Capital Markets-1.12%
Asset Management0.92%
Investment Banking and Brokerage0.25%
Financial Exchanges and Data-5.56%
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 63.6x.
    • Analysts are expecting annual earnings growth of 14.0%, 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 5.6% 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
EMG Man GroupUK£2.996.2%
+UK£192.1m		72.6%PE25.2x
IIG Intuitive Investments GroupUK£3.0625.4%
+UK£148.8m		150.8%PE4.8x
STJ St. James's PlaceUK£11.502.0%
+UK£114.5m		5.2%PE11x
III 3i GroupUK£22.450.9%
+UK£90.2m		-44.4%PE4.3x
TAM Tatton Asset ManagementUK£7.0017.8%
+UK£65.0m		7.4%PE22.8x

Latest News

RAT
UK£16.24
Rathbones Group
7D
-15.2%
1Y
-4.4%
TAM
UK£7.00
Tatton Asset Management
7D
17.8%
1Y
7.4%
CMCX
UK£4.58
CMC Markets
7D
-1.3%
1Y
84.8%
IIG
UK£3.06
Intuitive Investments Group
7D
25.4%
1Y
150.8%
LSEG
UK£83.38
London Stock Exchange Group
7D
-5.8%
1Y
-23.2%
Narrative Update • Jun 17

LSEG: Digital Expansion And Share Buybacks Will Support Future Share Price Upside

Analysts have nudged their price targets for London Stock Exchange Group higher, with one recent move adding £1.00 to the prior level. The change reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
EMG
UK£2.99
Man Group
7D
6.2%
1Y
72.6%
Narrative Update • Jun 16

EMG: Abu Dhabi Expansion Will Support Higher Earnings Resilience

The updated analyst price target for Man Group reflects a modest uplift of about £0.04, as analysts factor in slightly adjusted assumptions on fair value, discount rate, revenue growth, profit margin and future P/E. Analyst Commentary on Man Group Recent Street research on Man Group shows a mix of adjustments to price targets, with some bullish analysts focusing on potential upside in the shares despite a series of target trims from other firms.
GROW
UK£5.94
Molten Ventures
7D
-4.5%
1Y
106.0%
ABDN
UK£2.32
Aberdeen Group
7D
-1.7%
1Y
23.7%
Narrative Update • Jun 15

ABDN: Rich P E And Execution Risks Will Limit Upside Potential

The analyst price target for Aberdeen Group has been raised by £0.30 per share, supported by recent Street research that highlights higher targets from several banks and upgraded views on the stock's potential compared with consensus expectations. Analyst Commentary Recent Street research on Aberdeen Group shows a mix of higher targets and cautious revisions, which gives you a more balanced picture of how analysts are thinking about the stock's risk and reward profile.
III
UK£22.45
3i Group
7D
0.9%
1Y
-44.4%
TCAP
UK£3.44
TP ICAP Group
7D
2.4%
1Y
35.1%
IGG
UK£19.00
IG Group Holdings
7D
-0.7%
1Y
79.9%
Narrative Update • Jun 06

IGG: Future Revenue Execution And Volatility Exposure Will Shape Fair Value

Narrative Update IG Group Holdings' indicative fair value has moved from £14.78 to £16.85. This change is supported by analysts lifting price targets into a £1,750 to £1,850 range and citing updated assumptions for revenue growth, profit margins and future P/E multiples.
STJ
UK£11.50
St. James's Place
7D
2.0%
1Y
5.2%
Narrative Update • Jun 06

STJ: Future Capital Generation And Higher P E Will Support Upside Potential

Analysts trimmed their average price target on St. James's Place by a small amount, reflecting recent mixed target moves, where cuts of £0.20 to £1.00 were partly offset by at least one increase of £2.00, and a slightly lower fair value and P/E assumption in updated models. Analyst Commentary Recent Street research on St. James's Place has focused on recalibrating price targets in light of updated assumptions and model tweaks, resulting in several cuts alongside one sizeable increase to £20.00 from Deutsche Bank.
QLT
UK£1.92
Quilter
7D
2.2%
1Y
23.2%
Narrative Update • Jun 04

QLT: Higher Margins And Refined Assumptions Should Support Future Repricing

Quilter's analyst price target has been nudged up from £2.20 to £2.25 per share, as analysts point to refined assumptions around fair value, discount rate, profit margin and future P/E following a series of recent target adjustments across the Street. Analyst Commentary Recent target moves around Quilter highlight a cluster of cautious adjustments alongside more optimistic tweaks to fair value and earnings assumptions.
CLDN
UK£3.60
Caledonia Investments
7D
2.9%
1Y
-3.5%
LIV
UK£0.41
Livermore Investments Group
7D
-8.1%
1Y
-14.8%
OCI
UK£5.00
Oakley Capital Investments
7D
-3.1%
1Y
0.6%