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U.K. (FTSE) Capital Markets Industry Analysis

UpdatedAug 13, 2026
DataAggregated Company Financials
Companies141
  • 7D-0.4%
  • 3M6.1%
  • 1Y-1.5%
  • YTD3.2%

The Capital Markets is pretty flat in the last 7 days, but St. James's Place has stood out, gaining 6.8%. In line with that, the industry has also been flat over the past 12 months. 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, 13 Aug 2026UK£152.9bUK£94.3bUK£13.7b12.4x11.1x1.6x
Sat, 11 Jul 2026UK£153.5bUK£74.2bUK£13.0b12.1x11.8x2.1x
Mon, 08 Jun 2026UK£148.4bUK£73.9bUK£12.8b12.4x11.6x2x
Wed, 06 May 2026UK£150.5bUK£74.9bUK£13.8b12.7x10.9x2x
Fri, 03 Apr 2026UK£145.2bUK£75.0bUK£14.0b12.8x10.4x1.9x
Sun, 01 Mar 2026UK£155.0bUK£69.6bUK£13.2b13.6x11.8x2.2x
Tue, 27 Jan 2026UK£150.8bUK£55.3bUK£12.6b14.5x12x2.7x
Thu, 25 Dec 2025UK£151.1bUK£55.4bUK£12.6b13x12x2.7x
Sat, 22 Nov 2025UK£149.0bUK£56.2bUK£13.1b12.8x11.4x2.7x
Mon, 20 Oct 2025UK£161.5bUK£55.0bUK£11.6b13.9x13.9x2.9x
Wed, 17 Sep 2025UK£155.4bUK£54.8bUK£11.6b12.9x13.4x2.8x
Fri, 15 Aug 2025UK£163.5bUK£54.8bUK£11.6b13.4x14.1x3x
Sun, 13 Jul 2025UK£170.1bUK£63.7bUK£10.9b13x15.7x2.7x
Tue, 10 Jun 2025UK£171.4bUK£63.7bUK£10.9b12.6x15.8x2.7x
Thu, 08 May 2025UK£168.8bUK£62.9bUK£10.1b12.7x16.7x2.7x
Sat, 05 Apr 2025UK£153.6bUK£63.2bUK£10.3b10.5x14.9x2.4x
Mon, 03 Mar 2025UK£176.4bUK£64.4bUK£10.3b12x17.1x2.7x
Wed, 29 Jan 2025UK£173.0bUK£64.8bUK£9.8b11.6x17.6x2.7x
Fri, 27 Dec 2024UK£168.1bUK£64.8bUK£9.7b11.7x17.3x2.6x
Sun, 24 Nov 2024UK£166.5bUK£64.7bUK£9.7b12.2x17.1x2.6x
Tue, 22 Oct 2024UK£163.4bUK£64.1bUK£9.3b13x17.7x2.5x
Thu, 19 Sep 2024UK£157.2bUK£64.0bUK£9.0b13x17.5x2.5x
Sat, 17 Aug 2024UK£154.6bUK£64.1bUK£9.0b13x17.2x2.4x
Mon, 15 Jul 2024UK£151.8bUK£54.0bUK£8.5b15.6x17.9x2.8x
Wed, 12 Jun 2024UK£147.0bUK£54.0bUK£8.4b16.4x17.5x2.7x
Fri, 10 May 2024UK£141.0bUK£53.2bUK£8.1b15.9x17.3x2.7x
Sun, 07 Apr 2024UK£138.9bUK£53.8bUK£8.7b15.5x16x2.6x
Tue, 05 Mar 2024UK£131.8bUK£54.1bUK£8.5b14.9x15.4x2.4x
Thu, 01 Feb 2024UK£138.5bUK£48.6bUK£8.7b14.8x15.9x2.9x
Sat, 30 Dec 2023UK£140.6bUK£48.6bUK£8.8b15.3x16.1x2.9x
Mon, 27 Nov 2023UK£132.0bUK£48.6bUK£8.8b13.9x15x2.7x
Wed, 25 Oct 2023UK£123.1bUK£48.7bUK£8.8b12.4x14x2.5x
Fri, 22 Sep 2023UK£128.8bUK£48.7bUK£8.9b13.8x14.5x2.6x
Sun, 20 Aug 2023UK£122.7bUK£48.7bUK£8.9b13.7x13.7x2.5x
Price to Earnings Ratio

13.7x


Total Market Cap: UK£122.7bTotal Earnings: UK£8.9bTotal Revenue: UK£48.7bTotal 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 11.1x 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 1.6x.
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 Market-0.31%
Financials0.24%
Capital Markets-0.39%
Financial Exchanges and Data1.49%
Asset Management-1.03%
Investment Banking and Brokerage-1.75%
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 62.4x.
    • 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 8.2% 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
STJ St. James's PlaceUK£11.936.8%
+UK£381.8m		-8.5%PE10.7x
GROW Molten VenturesUK£6.846.9%
+UK£69.5m		84.6%PE9x
IGG IG Group HoldingsUK£13.321.5%
+UK£66.1m		15.9%PE8.9x
ICG ICGUK£20.460.9%
+UK£49.3m		-5.9%PE11.7x
AJB AJ BellUK£6.122.1%
+UK£49.2m		19.0%PE19.6x

Latest News

XPS
UK£3.28
XPS Pensions Group
7D
-3.5%
1Y
-10.3%
PLUS
UK£37.14
Plus500
7D
-2.9%
1Y
19.2%
ABDN
UK£2.43
Aberdeen Group
7D
-3.3%
1Y
24.6%
Narrative Update • Aug 10

ABDN: Future Returns Will Depend On Margin Delivery And Evolving Broker Sentiment

Aberdeen Group's analyst price target has shifted to £2.70 from £2.80, as analysts factor in updated fair value assumptions, a slightly lower discount rate, more moderate revenue growth expectations, compressed profit margin forecasts and a higher future P/E multiple based on recent Street research. Analyst Commentary Recent Street research on Aberdeen Group points to a mixed but generally supportive view of the stock, with several price target revisions clustered in the £2.41 to £2.80 range.
TCAP
UK£3.24
TP ICAP Group
7D
1.8%
1Y
15.6%
IGG
UK£13.32
IG Group Holdings
7D
1.5%
1Y
15.9%
LSEG
UK£85.56
London Stock Exchange Group
7D
-2.2%
1Y
-8.0%
GROW
UK£6.84
Molten Ventures
7D
6.9%
1Y
84.6%
IIG
UK£2.42
Intuitive Investments Group
7D
-15.4%
1Y
106.0%
STJ
UK£11.93
St. James's Place
7D
6.8%
1Y
-8.5%
ICG
UK£20.46
ICG
7D
0.9%
1Y
-5.9%
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.
AJB
UK£6.12
AJ Bell
7D
2.1%
1Y
19.0%
Narrative Update • Jul 29

AJB: Future Returns Will Reflect Buybacks Dividend Uplift And Steady Expectations

Analysts have lifted their price target on AJ Bell from £6.11 to £6.44. They point to updated assumptions for revenue growth, profit margins and future P/E, which they now see as slightly stronger than before.
III
UK£27.80
3i Group
7D
-3.2%
1Y
-31.6%
PBEE
UK£1.40
PensionBee Group
7D
-6.7%
1Y
-16.9%
N91
UK£2.18
Ninety One Group
7D
-1.7%
1Y
12.5%
CLDN
UK£3.97
Caledonia Investments
7D
2.3%
1Y
3.1%
CGEO
UK£44.35
Georgia Capital
7D
3.3%
1Y
87.1%