U.K. (FTSE) Capital Markets Industry Analysis

Industry Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 24 Aug 2026	UK£150.0b	UK£93.9b	UK£13.7b	12.3x	10.9x	1.6x
Wed, 22 Jul 2026	UK£148.8b	UK£74.3b	UK£13.0b	12x	11.5x	2x
Fri, 19 Jun 2026	UK£144.2b	UK£74.2b	UK£13.0b	12.3x	11.1x	1.9x
Sun, 17 May 2026	UK£144.8b	UK£73.9b	UK£12.9b	12.9x	11.2x	2x
Tue, 14 Apr 2026	UK£151.6b	UK£74.9b	UK£13.9b	14.1x	10.9x	2x
Thu, 12 Mar 2026	UK£146.3b	UK£74.5b	UK£13.6b	13.7x	10.8x	2x
Sat, 07 Feb 2026	UK£147.8b	UK£55.3b	UK£12.6b	14.7x	11.8x	2.7x
Mon, 05 Jan 2026	UK£151.1b	UK£55.3b	UK£12.6b	13.1x	12x	2.7x
Wed, 03 Dec 2025	UK£149.9b	UK£56.4b	UK£13.3b	13x	11.3x	2.7x
Fri, 31 Oct 2025	UK£170.0b	UK£54.7b	UK£11.7b	14.4x	14.6x	3.1x
Sun, 28 Sep 2025	UK£157.2b	UK£55.0b	UK£11.6b	12.6x	13.5x	2.9x
Tue, 26 Aug 2025	UK£165.3b	UK£54.8b	UK£11.6b	13.6x	14.3x	3x
Thu, 24 Jul 2025	UK£171.4b	UK£63.8b	UK£10.8b	13.5x	15.8x	2.7x
Sat, 21 Jun 2025	UK£165.5b	UK£63.8b	UK£10.9b	12.7x	15.2x	2.6x
Mon, 19 May 2025	UK£168.1b	UK£63.8b	UK£10.9b	12x	15.4x	2.6x
Wed, 16 Apr 2025	UK£163.2b	UK£63.2b	UK£10.2b	10.8x	16x	2.6x
Fri, 14 Mar 2025	UK£167.9b	UK£63.5b	UK£10.3b	11.6x	16.3x	2.6x
Sun, 09 Feb 2025	UK£177.8b	UK£64.8b	UK£9.8b	12x	18.2x	2.7x
Tue, 07 Jan 2025	UK£168.7b	UK£64.8b	UK£9.7b	11.6x	17.3x	2.6x
Thu, 05 Dec 2024	UK£171.1b	UK£64.6b	UK£9.6b	12.3x	17.8x	2.6x
Sat, 02 Nov 2024	UK£160.0b	UK£64.1b	UK£9.3b	12.9x	17.2x	2.5x
Mon, 30 Sep 2024	UK£161.8b	UK£64.0b	UK£9.2b	12.9x	17.5x	2.5x
Wed, 28 Aug 2024	UK£156.5b	UK£64.0b	UK£9.0b	12.8x	17.5x	2.4x
Fri, 26 Jul 2024	UK£149.1b	UK£54.0b	UK£8.6b	15.1x	17.3x	2.8x
Sun, 23 Jun 2024	UK£152.4b	UK£54.1b	UK£8.5b	15.7x	18x	2.8x
Tue, 21 May 2024	UK£144.4b	UK£53.1b	UK£8.1b	16.7x	17.8x	2.7x
Thu, 18 Apr 2024	UK£138.0b	UK£53.9b	UK£8.7b	15x	15.8x	2.6x
Sat, 16 Mar 2024	UK£136.1b	UK£53.5b	UK£8.4b	16.8x	16.2x	2.5x
Mon, 12 Feb 2024	UK£130.8b	UK£47.5b	UK£8.7b	14x	15.1x	2.8x
Wed, 10 Jan 2024	UK£136.4b	UK£48.6b	UK£8.8b	15.2x	15.6x	2.8x
Fri, 08 Dec 2023	UK£135.7b	UK£48.6b	UK£8.8b	14.9x	15.4x	2.8x
Sun, 05 Nov 2023	UK£125.7b	UK£48.5b	UK£8.8b	12.4x	14.3x	2.6x
Tue, 03 Oct 2023	UK£127.8b	UK£48.7b	UK£8.8b	12.7x	14.5x	2.6x
Thu, 31 Aug 2023	UK£125.7b	UK£48.7b	UK£9.0b	13.8x	14x	2.6x

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 10.9x 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 24% 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 Market	0.93%
Financials	-1.44%
Capital Markets	0.63%
Financial Exchanges and Data	1.43%
Asset Management	0.63%
Investment Banking and Brokerage	-1.67%

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 62.0x.

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 8.1% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
III 3i Group	UK£28.91	3.7% +UK£1.0b	-29.7%	PE5.5x
LSEG London Stock Exchange Group	UK£86.02	1.5% +UK£601.2m	-9.1%	PE29.5x
HICL HICL Infrastructure	UK£1.40	2.5% +UK£63.3m	12.9%	PE9.8x
STJ St. James's Place	UK£11.88	0.8% +UK£45.5m	-9.2%	PE10.7x
IPO IP Group	UK£0.71	5.0% +UK£30.0m	15.8%	PE9.4x

The Railways Pension Trustee Company Limited cancelled the acquisition of remaining 81.62% stake in IP Group Plc (LSE:IPO) for approximately £500 million.

The Railways Pension Trustee Company Limited proposed to acquire remaining 81.62% stake in IP Group Plc (LSE:IPO) for approximately £500 million on June 16, 2026. A cash consideration equivalent to £0.697 per share for each IP Group share, with the potential to receive up to an extra £0.05 per share in cash through the contingent value right will be paid by The Railways Pension Trustee Company Limited. Under the terms of the Possible Offer, the Total Value would comprise: (i) an offer price of £0.59 in cash for each IP Group share; (ii) a mechanism to enable IP Group shareholders to realize the value (net of costs and other expenses) of their pro rata share of the Company's shareholding in Oxford Nanopore Technologies plc ("ONT") which was valued at approximately £0.107 per IP Group share, based on the closing price for an ONT share of £1.165 on the last business day prior to this announcement; and (iii) a contingent value right of up to £0.05 per existing Company share (the "CVR"). Under the terms of the CVR, it is anticipated that IP Group shareholders would be entitled to participate in the value realized from any disposal of the Company's shareholding in Istesso (an "Istesso Disposal"). If an Istesso Disposal completes within 12 months following completion of the offer for IP Group and the gross sale proceeds attributable to IP Group's shareholding: (a) are equal to or more than £98 million in cash, it is anticipated that the CVR would deliver additional cash consideration of £0.03 per Company share; (b) are in excess of £200 million in cash, it is anticipated that the CVR will deliver additional cash consideration of £0.02 per Company share. The Total Value of the Possible Offer (excluding the CVR) could be greater or less than £0.697 per IP Group share depending on the share price performance of ONT. The Possible Offer is subject to the satisfaction or waiver of the formation of the consortium referred; completion of confirmatory due diligence to the satisfaction of Railpen; and the unanimous and unconditional recommendation of the Possible Offer by the board of IP Group. John Deans of N.M. Rothschild & Sons Limited acted as financial advisor for The Railways Pension Trustee Company Limited. The Railways Pension Trustee Company Limited cancelled the acquisition of remaining 81.62% stake in IP Group Plc (LSE:IPO) on June 16, 2026. The Offer has been rejected by the Board of IP Group.

U.K. (FTSE) Capital Markets Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Upcoming dividend of UK£0.021 per share

CMCX: Future Returns Will Hinge On Delivering FY27 Income And Margin Targets

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Price target increased by 27% to UK£49.45

St. James's Place plc to Report Fiscal Year 2026 Results on Feb 24, 2027

New major risk - Shareholder dilution

Fourth quarter dividend increased to UK£0.02

First half dividend of US$1.20 announced

EMG: Future Returns Will Depend On Flows And Higher Earnings Margins

Rit Capital Partners plc Declares Second Interim Dividend for Year Ending 31 December 2026, Payable on October 30, 2026

BPT: Higher Margin Outlook Will Support Stronger Future Equity Returns

First half dividend increased to UK£0.55

First half dividend increased to UK£0.32

Investor sentiment improves as stock rises 16%

Caledonia Investments plc Declares a Final Dividend

The Railways Pension Trustee Company Limited cancelled the acquisition of remaining 81.62% stake in IP Group Plc (LSE:IPO) for approximately £500 million.