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U.S. Capital Markets Industry Analysis

UpdatedApr 21, 2026
DataAggregated Company Financials
Companies417
  • 7D4.3%
  • 3M-4.5%
  • 1Y32.0%
  • YTD-3.6%

Over the last 7 days, the Capital Markets industry has risen 4.3%, and Robinhood Markets contributed the most with a gain of 27%. In the last 12 months, the industry was up 32%. Earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026US$2.7tUS$745.2bUS$110.4b41.7x24.5x3.6x
Thu, 19 Mar 2026US$2.5tUS$730.4bUS$107.0b26.9x23.1x3.4x
Sat, 14 Feb 2026US$2.6tUS$736.5bUS$106.1b23.1x24.3x3.5x
Mon, 12 Jan 2026US$2.9tUS$656.7bUS$105.5b25.6x27.4x4.4x
Wed, 10 Dec 2025US$2.8tUS$656.1bUS$105.4b25.3x26.5x4.3x
Fri, 07 Nov 2025US$2.7tUS$649.6bUS$106.3b24.1x25.5x4.2x
Sun, 05 Oct 2025US$2.8tUS$875.2bUS$101.0b27.1x27.6x3.2x
Tue, 02 Sep 2025US$2.8tUS$866.2bUS$101.1b26.7x27.3x3.2x
Thu, 31 Jul 2025US$2.8tUS$598.0bUS$99.5b27.7x27.8x4.6x
Sat, 28 Jun 2025US$2.5tUS$590.7bUS$97.0b27.6x25.8x4.2x
Mon, 26 May 2025US$2.4tUS$590.2bUS$96.1b28.4x24.7x4x
Wed, 23 Apr 2025US$2.0tUS$563.2bUS$96.6b23.1x21x3.6x
Fri, 21 Mar 2025US$2.3tUS$559.2bUS$95.0b23.5x24x4.1x
Sun, 16 Feb 2025US$2.5tUS$554.6bUS$95.0b22.1x26.5x4.5x
Tue, 14 Jan 2025US$2.3tUS$512.8bUS$79.0b22.2x29x4.5x
Thu, 12 Dec 2024US$2.5tUS$524.3bUS$81.7b23.5x30.1x4.7x
Sat, 09 Nov 2024US$2.4tUS$509.1bUS$81.7b24.1x29x4.7x
Mon, 07 Oct 2024US$2.2tUS$493.1bUS$78.4b20.9x27.4x4.4x
Wed, 04 Sep 2024US$2.1tUS$492.2bUS$77.9b20.7x26.6x4.2x
Fri, 02 Aug 2024US$2.0tUS$477.1bUS$77.5b21.5x26.3x4.3x
Sun, 30 Jun 2024US$1.9tUS$467.6bUS$73.1b21.3x26.1x4.1x
Tue, 28 May 2024US$1.9tUS$467.2bUS$73.2b22.4x26.5x4.1x
Thu, 25 Apr 2024US$1.9tUS$447.0bUS$70.0b19.7x26.9x4.2x
Sat, 23 Mar 2024US$1.9tUS$440.6bUS$67.2b19.4x28.2x4.3x
Mon, 19 Feb 2024US$1.8tUS$439.7bUS$67.0b19.3x26.9x4.1x
Wed, 17 Jan 2024US$1.8tUS$434.6bUS$70.4b27.1x25.7x4.2x
Fri, 15 Dec 2023US$1.8tUS$432.8bUS$70.6b27.1x25.3x4.1x
Sun, 12 Nov 2023US$1.6tUS$432.1bUS$70.3b27.1x22.6x3.7x
Tue, 10 Oct 2023US$1.6tUS$425.5bUS$68.0b28x23.2x3.7x
Thu, 07 Sep 2023US$1.6tUS$426.3bUS$68.1b28.2x23.9x3.8x
Sat, 05 Aug 2023US$1.7tUS$420.3bUS$65.1b30.6x25.8x4x
Mon, 03 Jul 2023US$1.6tUS$419.2bUS$64.3b31.3x24.4x3.7x
Wed, 31 May 2023US$1.5tUS$419.3bUS$64.5b30.9x23.4x3.6x
Fri, 28 Apr 2023US$1.5tUS$419.9bUS$65.2b27.8x23.7x3.7x
Price to Earnings Ratio

23.7x


Total Market Cap: US$1.5tTotal Earnings: US$65.2bTotal Revenue: US$419.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Capital Markets Industry Price to Earnings3Y Average 25.8x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Capital Markets industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 25.8x.
  • The industry is trading close to its 3-year average PS ratio of 4.0x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 19% per year over the last three years.
  • Revenues for these companies have grown 21% 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.S. Financials industry?

US Market3.58%
Financials2.35%
Capital Markets4.27%
Diversified Capital Markets16.69%
Investment Banking and Brokerage5.36%
Asset Management4.89%
Financial Exchanges and Data1.36%
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 39.3x.
    • Analysts expect its future annual earnings growth (10.2%) to be largely in line with prior year's earnings growth.
  • Investors are most pessimistic about the Diversified Capital Markets industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 8.6% 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
HOOD Robinhood MarketsUS$91.2827.4%
+US$17.7b		129.0%PE43.6x
GS Goldman Sachs GroupUS$941.745.7%
+US$15.6b		87.8%PE16.9x
MS Morgan StanleyUS$190.705.3%
+US$14.9b		79.4%PE17.2x
COIN Coinbase GlobalUS$211.6314.8%
+US$7.2b		11.4%PE44.3x
BX BlackstoneUS$128.995.9%
+US$5.6b		7.3%PE33.5x

Latest News

MKTX
US$164.96
MarketAxess Holdings
7D
-5.5%
1Y
-25.8%
BX
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Blackstone
7D
5.9%
1Y
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BK
US$135.37
Bank of New York Mellon
7D
4.8%
1Y
82.8%
MS
US$190.70
Morgan Stanley
7D
5.3%
1Y
79.4%
CME
US$287.45
CME Group
7D
-4.4%
1Y
10.4%
SCHW
US$93.15
Charles Schwab
7D
-3.8%
1Y
24.3%
BLK
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BlackRock
7D
2.4%
1Y
22.8%

BlackRock, Inc. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

Apr 17
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HOOD
US$91.28
Robinhood Markets
7D
27.4%
1Y
129.0%

Robinhood Markets will skyrocket with 25% revenue growth

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GS
US$941.74
Goldman Sachs Group
7D
5.7%
1Y
87.8%
COIN
US$211.63
Coinbase Global
7D
14.8%
1Y
11.4%
TW
US$115.12
Tradeweb Markets
7D
-7.2%
1Y
-11.1%

TW: Record Volumes And New Partnerships Will Support Future Upside

Analysts have reduced their price target on Tradeweb Markets to about $175 from roughly $177, citing updated assumptions that combine a slightly different discount rate with revised expectations for revenue growth, profit margins, and future price-to-earnings (P/E) levels. What's in the News Reported record March 2026 trading activity, with total trading volume of $87.0tn and record average daily volume (ADV) of $3.8tn, a 41.8% YoY increase in ADV.
KKR
US$103.92
KKR
7D
5.9%
1Y
6.1%
ICE
US$160.61
Intercontinental Exchange
7D
-2.3%
1Y
3.6%

ICE: Digital Asset Expansion And New Clearing Services Will Drive Future Upside

Intercontinental Exchange's fair value estimate has increased slightly to about $197.87 per share from $197.21, as analysts factor in slightly stronger revenue growth and profit margin assumptions, along with a modestly lower future P/E expectation and discount rate, following a mix of recent price target raises and trims. Analyst Commentary Recent Street research on Intercontinental Exchange has been active, with several firms adjusting price targets and one upgrade in rating.
MRX
US$50.92
Marex Group
7D
-2.8%
1Y
37.4%

MRX: Rich Earnings Multiple Will Face Test From Softer Revenue Outlook

Analysts have inched their price targets for Marex Group higher by a few dollars into the mid $40s, reflecting updated views on revenue trends, margins, and a lower forward P/E assumption in recent TD Cowen, Piper Sandler, and Barclays research. Analyst Commentary Recent research reflects a mixed tone, with some optimism on Marex Group's revenue and margin outlook, alongside more cautious views on where the shares should trade relative to sector peers.
CSHR
US$5.33
CoinShares
7D
-17.2%
1Y
n/a
VACH
US$10.00
Voyager Acquisition
7D
-18.4%
1Y
-2.1%