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U.S. Financial Exchanges and Data Industry Analysis

UpdatedApr 18, 2026
DataAggregated Company Financials
Companies37
  • 7D4.4%
  • 3M-9.5%
  • 1Y3.2%
  • YTDn/a

The Financial Exchanges and Data industry is up 3.4% in the last week, with Coinbase Global up 18%. This takes the industry's 12 month performance to a gain of 3.5%. Looking forward, earnings are forecast to grow by 10% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 18 Apr 2026US$609.3bUS$72.9bUS$18.6b26.8x32.8x8.4x
Mon, 16 Mar 2026US$600.0bUS$74.3bUS$19.2b26.6x31.2x8.1x
Wed, 11 Feb 2026US$604.4bUS$77.4bUS$20.7b22.5x29.2x7.8x
Fri, 09 Jan 2026US$662.6bUS$76.5bUS$20.2b24.5x32.8x8.7x
Sun, 07 Dec 2025US$645.7bUS$76.5bUS$20.2b25.1x32x8.4x
Tue, 04 Nov 2025US$641.0bUS$75.7bUS$20.6b26.3x31.1x8.5x
Thu, 02 Oct 2025US$661.9bUS$333.4bUS$19.6b25.7x33.8x2x
Sat, 30 Aug 2025US$692.8bUS$324.3bUS$19.3b27.4x35.9x2.1x
Mon, 28 Jul 2025US$716.2bUS$72.0bUS$17.9b30.2x40.1x9.9x
Wed, 25 Jun 2025US$688.6bUS$71.5bUS$17.5b30.5x39.5x9.6x
Fri, 23 May 2025US$657.3bUS$71.5bUS$17.5b31.1x37.6x9.2x
Sun, 20 Apr 2025US$588.0bUS$69.4bUS$18.1b29.9x32.4x8.5x
Tue, 18 Mar 2025US$606.3bUS$67.8bUS$18.2b29.8x33.3x8.9x
Thu, 13 Feb 2025US$650.2bUS$65.7bUS$17.3b32.1x37.5x9.9x
Sat, 11 Jan 2025US$612.9bUS$64.4bUS$16.4b32x37.4x9.5x
Mon, 09 Dec 2024US$657.9bUS$62.5bUS$16.4b33.2x40.2x10.5x
Wed, 06 Nov 2024US$591.3bUS$62.3bUS$16.4b32.1x36.1x9.5x
Fri, 04 Oct 2024US$599.6bUS$59.6bUS$15.5b30.6x38.6x10.1x
Sun, 01 Sep 2024US$599.7bUS$59.6bUS$15.5b31x38.7x10.1x
Tue, 30 Jul 2024US$580.3bUS$57.7bUS$15.1b32.9x38.5x10.1x
Thu, 27 Jun 2024US$539.3bUS$56.7bUS$14.8b30.9x36.6x9.5x
Sat, 25 May 2024US$541.5bUS$56.7bUS$14.8b31.8x36.7x9.5x
Mon, 22 Apr 2024US$520.1bUS$53.7bUS$13.1b32.4x39.8x9.7x
Wed, 20 Mar 2024US$539.2bUS$53.4bUS$12.9b33.3x41.8x10.1x
Fri, 16 Feb 2024US$512.4bUS$53.1bUS$12.0b32.4x42.8x9.6x
Sun, 14 Jan 2024US$503.8bUS$51.9bUS$11.6b30x43.4x9.7x
Tue, 12 Dec 2023US$497.4bUS$51.9bUS$11.6b28.4x42.9x9.6x
Thu, 09 Nov 2023US$454.1bUS$51.6bUS$11.1b31.2x40.8x8.8x
Sat, 07 Oct 2023US$433.3bUS$51.0bUS$9.5b31.7x45.8x8.5x
Mon, 04 Sep 2023US$447.2bUS$51.4bUS$9.4b27.3x47.7x8.7x
Wed, 02 Aug 2023US$450.0bUS$51.2bUS$7.8b30.1x57.5x8.8x
Fri, 30 Jun 2023US$429.3bUS$50.9bUS$8.1b26.9x52.7x8.4x
Sun, 28 May 2023US$405.0bUS$50.9bUS$8.1b29.2x50.1x8x
Tue, 25 Apr 2023US$408.4bUS$50.4bUS$8.1b29.8x50.5x8.1x
Price to Earnings Ratio

50.5x


Total Market Cap: US$408.4bTotal Earnings: US$8.1bTotal Revenue: US$50.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Financial Exchanges and Data Industry Price to Earnings3Y Average 39.3x202420252026
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 39.4x.
  • The industry is trading close to its 3-year average PS ratio of 8.8x.
Past Earnings Growth
  • The earnings for companies in the Financial Exchanges and Data industry have grown 32% per year over the last three years.
  • Revenues for these companies have grown 13% 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 Market4.89%
Financials3.83%
Capital Markets6.43%
Financial Exchanges and Data4.44%
Diversified Capital Markets25.15%
Asset Management8.17%
Investment Banking and Brokerage6.16%
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
COIN Coinbase GlobalUS$206.3322.9%
+US$10.2b		17.9%PE43.2x
SPGI S&P GlobalUS$442.576.5%
+US$8.0b		-4.4%PE29.3x
MCO Moody'sUS$455.356.5%
+US$5.0b		7.2%PE33x
NDAQ NasdaqUS$88.616.6%
+US$3.1b		22.8%PE28.2x
MSCI MSCIUS$568.556.0%
+US$2.3b		4.0%PE34.6x

Latest News

CME
US$287.65
CME Group
7D
-2.6%
1Y
9.6%
COIN
US$206.33
Coinbase Global
7D
22.9%
1Y
17.9%
MCO
US$455.35
Moody's
7D
6.5%
1Y
7.2%

MCO: AI Productivity And Data Moats Will Sustain Ratings Strength Into 2026

Moody's updated Analyst Price Target moves lower by about $38 to $537.85, as analysts temper assumptions for revenue growth, profit margins and future P/E multiples, while still highlighting solid recent results and competitive strengths in ratings and data. Analyst Commentary Recent research points to a mixed but generally constructive tone around Moody's, with most firms trimming price targets while still recognizing strengths in its ratings and data businesses.
BLSH
US$43.51
Bullish
7D
20.1%
1Y
n/a

Why Bullish Is Positioned To Capture The Institutional Crypto Wave

Apr 15
TW
US$118.34
Tradeweb Markets
7D
-2.6%
1Y
-11.9%

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.
MKTX
US$169.00
MarketAxess Holdings
7D
-1.7%
1Y
-24.9%

MKTX: Fair Outlook Balances Volume Headwinds With Platform Integration And Buybacks

Analysts have adjusted the MarketAxess Holdings fair value estimate slightly higher from $169.00 to $172.00, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations amid mixed recent ratings and price target revisions on the stock. Analyst Commentary Recent Street research on MarketAxess Holdings has been mixed, with some firms turning more cautious on the stock while others remain constructive.
FDS
US$232.73
FactSet Research Systems
7D
10.0%
1Y
-45.5%

The Market Is Too Harsh On FactSet Research Systems

Apr 13
MSCI
US$568.55
MSCI
7D
6.0%
1Y
4.0%

MSCI: Benchmark Data Strength And ETF Inflows Will Support Future Premium Multiple

MSCI's analyst price target edges lower by about $6 to reflect modest tweaks to discount rate, revenue growth, profit margin and future P/E assumptions, as analysts balance earlier target increases from several firms with more recent cuts tied to updated views on the information services group. Analyst Commentary Recent research on MSCI shows a mix of confidence in the business model and caution around valuation, reflected in both target price increases and reductions over the past few months.
SPGI
US$442.57
S&P Global
7D
6.5%
1Y
-4.4%

SPGI: AI Competition Concerns Will Shape Future Earnings Multiple

The analyst price target for S&P Global has been revised lower to $556, reflecting a broader wave of target cuts across the Street as analysts factor in a slightly lower discount rate, modestly adjusted long term growth and margin assumptions, and heightened competitive concerns around data and AI. Analyst Commentary Street research on S&P Global has turned more cautious overall, with several firms trimming price targets while still recognizing the company’s scale in ratings, data, and index services.
NDAQ
US$88.61
Nasdaq
7D
6.6%
1Y
22.8%

NDAQ: AI And Fintech Platform Durability Will Drive Re Rating Beyond 2026

Nasdaq's analyst fair value estimate has been reduced by about $3 to $106.87, as analysts modestly adjust assumptions for growth, margins, and future P/E, while still emphasizing the durability of its technology platform and AI exposure highlighted in recent research. Analyst Commentary Recent Street research on Nasdaq reflects a mix of optimism around the company’s platform and AI exposure, alongside a few more cautious tweaks to price targets and ratings.
MORN
US$184.28
Morningstar
7D
9.7%
1Y
-33.5%
AGMH
US$0.87
AGM Group Holdings
7D
-6.1%
1Y
-41.0%
PMAX
US$2.53
Powell Max
7D
-27.7%
1Y
-90.3%