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U.S. Financial Exchanges and Data Industry Analysis

UpdatedDec 25, 2025
DataAggregated Company Financials
Companies34
  • 7D2.0%
  • 3M0.7%
  • 1Y2.5%
  • YTDn/a

Over the last 7 days, the Financial Exchanges and Data industry has risen 2.0%, driven by gains from S&P Global of 3.0%. Despite this gain, the industry's performance has been flat over the past year. As for the next few years, earnings are expected to grow by 9.0% per annum.

Industry Valuation and Performance

Has the U.S. Financial Exchanges and Data Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025US$659.1bUS$76.5bUS$20.2b25.3x32.7x8.6x
Sat, 22 Nov 2025US$624.0bUS$76.4bUS$20.2b24.9x30.9x8.2x
Mon, 20 Oct 2025US$643.8bUS$74.4bUS$19.6b25.9x32.8x8.7x
Wed, 17 Sep 2025US$683.8bUS$324.3bUS$19.3b26x35.4x2.1x
Fri, 15 Aug 2025US$711.8bUS$324.3bUS$19.3b27x36.9x2.2x
Sun, 13 Jul 2025US$700.0bUS$71.5bUS$17.5b31.2x40.1x9.8x
Tue, 10 Jun 2025US$660.8bUS$71.5bUS$17.5b31.8x37.8x9.2x
Thu, 08 May 2025US$634.4bUS$70.9bUS$18.6b30.6x34.1x8.9x
Sat, 05 Apr 2025US$603.5bUS$69.3bUS$18.1b29.2x33.3x8.7x
Mon, 03 Mar 2025US$645.3bUS$67.7bUS$18.3b27.8x35.3x9.5x
Wed, 29 Jan 2025US$643.6bUS$64.5bUS$16.4b33.2x39.3x10x
Fri, 27 Dec 2024US$631.3bUS$64.4bUS$16.4b34.7x38.5x9.8x
Sun, 24 Nov 2024US$645.9bUS$62.5bUS$16.4b34.9x39.4x10.3x
Tue, 22 Oct 2024US$631.0bUS$59.6bUS$15.5b34.5x40.6x10.6x
Thu, 19 Sep 2024US$601.2bUS$59.6bUS$15.5b31x38.8x10.1x
Sat, 17 Aug 2024US$582.5bUS$59.5bUS$15.5b32.1x37.6x9.8x
Mon, 15 Jul 2024US$560.1bUS$56.7bUS$14.8b31.4x38x9.9x
Wed, 12 Jun 2024US$534.7bUS$56.7bUS$14.8b30.2x36.2x9.4x
Fri, 10 May 2024US$533.3bUS$55.9bUS$14.7b33.3x36.2x9.5x
Sun, 07 Apr 2024US$542.7bUS$53.6bUS$13.0b33.6x41.9x10.1x
Tue, 05 Mar 2024US$539.6bUS$53.4bUS$12.9b32.5x41.9x10.1x
Thu, 01 Feb 2024US$519.4bUS$51.9bUS$11.6b30.2x44.7x10x
Sat, 30 Dec 2023US$527.6bUS$51.9bUS$11.6b30.4x45.4x10.2x
Mon, 27 Nov 2023US$487.0bUS$51.9bUS$11.6b28.9x42x9.4x
Wed, 25 Oct 2023US$424.5bUS$50.8bUS$9.5b35.1x44.8x8.3x
Fri, 22 Sep 2023US$431.0bUS$51.4bUS$9.3b28.8x46.2x8.4x
Sun, 20 Aug 2023US$436.9bUS$51.4bUS$9.4b32.3x46.6x8.5x
Tue, 18 Jul 2023US$451.3bUS$50.9bUS$8.1b28x55.4x8.9x
Thu, 15 Jun 2023US$425.2bUS$50.9bUS$8.1b29.9x52.6x8.4x
Sat, 13 May 2023US$411.3bUS$50.9bUS$8.2b30x50.4x8.1x
Mon, 10 Apr 2023US$409.5bUS$50.4bUS$8.1b30x50.8x8.1x
Wed, 08 Mar 2023US$399.1bUS$50.4bUS$9.2b29.3x43.2x7.9x
Fri, 03 Feb 2023US$434.6bUS$51.3bUS$12.0b27x36.1x8.5x
Sun, 01 Jan 2023US$388.7bUS$51.5bUS$12.2b26.4x31.8x7.6x
Price to Earnings Ratio

31.8x


Total Market Cap: US$388.7bTotal Earnings: US$12.2bTotal Revenue: US$51.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Financial Exchanges and Data Industry Price to Earnings3Y Average 40.2x202320242025
Current Industry PE
  • Investors are pessimistic on the American Financial Exchanges and Data 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 32.7x which is lower than its 3-year average PE of 40.2x.
  • The industry is trading close to its 3-year average PS ratio of 8.7x.
Past Earnings Growth
  • The earnings for companies in the Financial Exchanges and Data industry have grown 18% per year over the last three years.
  • Revenues for these companies have grown 14% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does U.S. Financial Exchanges and Data compare with similar industries?

US Market3.10%
Financials2.21%
Capital Markets2.85%
Financial Exchanges and Data2.00%
Investment Banking and Brokerage4.25%
Asset Management1.80%
Diversified Capital Markets-1.40%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
SPGI S&P GlobalUS$525.743.0%
+US$4.6b		4.2%PE37.8x
MCO Moody'sUS$517.283.7%
+US$3.3b		7.7%PE41.1x
NDAQ NasdaqUS$98.645.3%
+US$2.8b		25.0%PE34.7x
MSCI MSCIUS$581.753.7%
+US$1.6b		-4.3%PE35.7x
ICE Intercontinental ExchangeUS$162.631.1%
+US$1.0b		8.1%PE29.3x

Latest News

FLD
US$2.71
Fold Holdings
7D
-7.2%
1Y
-75.8%
COIN
US$239.73
Coinbase Global
7D
-1.8%
1Y
-14.3%
ICE
US$162.63
Intercontinental Exchange
7D
1.1%
1Y
8.1%

ICE: Prediction Market Expansion Will Drive Long Term Data And Trading Opportunity

Analysts made a modest upward adjustment of about $0.50 to our Intercontinental Exchange fair value estimate, reflecting slightly lower discount rate assumptions and incremental confidence in long term margin resilience, despite mixed near term commentary on volumes and mortgage technology visibility. Analyst Commentary Recent Street research reflects a nuanced backdrop for Intercontinental Exchange, with modest target price trims offset by continued confidence in the company’s strategic positioning and long term earnings power.
CME
US$276.38
CME Group
7D
1.0%
1Y
15.4%
CBOE
US$255.96
Cboe Global Markets
7D
1.5%
1Y
31.7%
FDS
US$290.09
FactSet Research Systems
7D
-2.0%
1Y
-41.0%
VALU
US$38.15
Value Line
7D
-2.8%
1Y
-28.9%
SPGI
US$525.74
S&P Global
7D
3.0%
1Y
4.2%
TW
US$107.24
Tradeweb Markets
7D
2.5%
1Y
-20.1%

TW: Record Volumes And New Platforms Will Support Steady Long-Term Performance

Analysts have modestly raised their price target on Tradeweb Markets to 110 dollars from about 108 dollars, citing expectations for stronger top line growth that more than offset slightly lower margin forecasts and a reduced future valuation multiple. What's in the News Reported record total trading volume of 56.8 trillion dollars for November 2025, with average daily volume up 22.3 percent year over year to 2.9 trillion dollars (company production update).
MSCI
US$581.75
MSCI
7D
3.7%
1Y
-4.3%

MSCI: Recurring Revenue Will Sustain Premium Multiple Despite Sustainability Slowdown

Analysts have modestly reduced their MSCI price target by $0.00, citing the combination of still-strong recurring, high-margin revenue and a sustained premium multiple, tempered by a slowdown in Sustainability product growth and sector-wide concerns that they view as somewhat overdone. Analyst Commentary Recent Street commentary on MSCI highlights a balanced view, with recognition of the company’s high-quality fundamentals alongside emerging concerns around specific growth drivers and sector sentiment.
LPRO
US$1.62
Open Lending
7D
-6.9%
1Y
-72.4%

LPRO: Share Repurchases And New Auto Platform Will Drive Stronger Outlook

Analysts have raised their price target on Open Lending from approximately 7 dollars to 10 dollars, citing expectations for stronger revenue growth, higher profit margins, and a more favorable future earnings multiple, despite a modestly higher discount rate. What's in the News Open Lending completed its previously announced share repurchase program, buying back 1,971,369 shares, or about 1.65% of shares outstanding, for a total of 3.98 million dollars (company buyback filing).
ALTS
US$1.18
ALT5 Sigma
7D
-4.8%
1Y
-72.6%
NDAQ
US$98.64
Nasdaq
7D
5.3%
1Y
25.0%

NDAQ: Higher Quality Solutions Revenue Will Drive Continued Share Upside Into 2026

Analysts have nudged their average price target for Nasdaq higher to the low $110s from the high $100s, citing accelerating, higher quality solutions revenue and a supportive macro backdrop that they expect will sustain or even quicken the company’s growth momentum into 2026. Analyst Commentary Street research in recent weeks has grown more constructive on Nasdaq, pointing to an improving earnings trajectory and a higher quality revenue mix that is reinforcing the stock's re-rating case.
MCO
US$517.28
Moody's
7D
3.7%
1Y
7.7%
MKTW
US$14.20
MarketWise
7D
-11.2%
1Y
36.8%
AGMH
US$2.13
AGM Group Holdings
7D
-21.4%
1Y
-96.8%