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U.S. Financial Exchanges and Data Industry Analysis

UpdatedMar 26, 2026
DataAggregated Company Financials
Companies36
  • 7D-4.0%
  • 3M-11.6%
  • 1Y-8.6%
  • YTDn/a

Over the last 7 days, the Financial Exchanges and Data industry has dropped 4.7%, driven by declines in Coinbase Global and S&P Global of 10% and 4.3%, respectively. Overall the industry is down 8.9% in 12 months. 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
Thu, 26 Mar 2026US$584.6bUS$72.9bUS$19.0b26.5x30.8x8x
Sat, 21 Feb 2026US$582.9bUS$77.4bUS$19.1b26.2x30.6x7.5x
Mon, 19 Jan 2026US$679.6bUS$76.5bUS$20.2b23.4x33.6x8.9x
Wed, 17 Dec 2025US$644.8bUS$76.5bUS$20.2b24.7x32x8.4x
Fri, 14 Nov 2025US$654.9bUS$76.0bUS$20.0b25.6x32.7x8.6x
Sun, 12 Oct 2025US$660.9bUS$333.3bUS$19.6b26.3x33.7x2x
Tue, 09 Sep 2025US$677.7bUS$324.3bUS$19.3b26.9x35.1x2.1x
Thu, 07 Aug 2025US$703.2bUS$72.8bUS$19.7b27.3x35.8x9.7x
Sat, 05 Jul 2025US$701.1bUS$71.5bUS$17.5b33.1x40.2x9.8x
Mon, 02 Jun 2025US$662.8bUS$71.5bUS$17.5b31x37.9x9.3x
Wed, 30 Apr 2025US$609.9bUS$70.4bUS$18.5b29.9x32.9x8.7x
Fri, 28 Mar 2025US$628.5bUS$69.3bUS$18.2b30.2x34.5x9.1x
Sun, 23 Feb 2025US$643.8bUS$67.7bUS$18.2b27.8x35.3x9.5x
Tue, 21 Jan 2025US$627.1bUS$64.4bUS$16.4b32.7x38.2x9.7x
Thu, 19 Dec 2024US$640.5bUS$64.4bUS$16.4b33.5x39.1x9.9x
Sat, 16 Nov 2024US$630.2bUS$62.4bUS$16.4b36.1x38.5x10.1x
Mon, 14 Oct 2024US$608.2bUS$59.6bUS$15.5b31x39.2x10.2x
Wed, 11 Sep 2024US$593.2bUS$59.6bUS$15.5b30.8x38.3x10x
Fri, 09 Aug 2024US$564.9bUS$59.4bUS$15.5b32.2x36.4x9.5x
Sun, 07 Jul 2024US$546.4bUS$56.7bUS$14.8b31.4x37x9.6x
Tue, 04 Jun 2024US$529.8bUS$56.7bUS$14.8b30.9x35.9x9.3x
Thu, 02 May 2024US$516.7bUS$54.4bUS$13.3b30.6x38.9x9.5x
Sat, 30 Mar 2024US$549.8bUS$53.6bUS$13.0b34.1x42.4x10.2x
Mon, 26 Feb 2024US$528.3bUS$53.4bUS$12.9b32.5x40.9x9.9x
Wed, 24 Jan 2024US$511.6bUS$51.9bUS$11.6b30.5x44.1x9.9x
Fri, 22 Dec 2023US$507.6bUS$51.9bUS$11.6b29.4x43.7x9.8x
Sun, 19 Nov 2023US$471.4bUS$51.9bUS$11.6b28x40.7x9.1x
Tue, 17 Oct 2023US$437.1bUS$51.0bUS$9.5b30.6x46.2x8.6x
Thu, 14 Sep 2023US$447.6bUS$51.4bUS$9.4b32.3x47.7x8.7x
Sat, 12 Aug 2023US$441.7bUS$51.3bUS$9.4b30.9x47.1x8.6x
Mon, 10 Jul 2023US$426.9bUS$50.9bUS$8.1b26.6x52.4x8.4x
Wed, 07 Jun 2023US$419.1bUS$50.9bUS$8.1b29.6x51.8x8.2x
Fri, 05 May 2023US$400.0bUS$51.3bUS$7.8b29.3x51.5x7.8x
Sun, 02 Apr 2023US$413.0bUS$50.4bUS$8.1b30x51.1x8.2x
Price to Earnings Ratio

51.1x


Total Market Cap: US$413.0bTotal 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 39.7x202420252026
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 31.7x which is lower than its 3-year average PE of 39.7x.
  • 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 33% 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 Market-0.15%
Financials1.25%
Capital Markets0.22%
Financial Exchanges and Data-4.00%
Investment Banking and Brokerage2.80%
Asset Management0.18%
Diversified Capital Markets-2.16%
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
DFIN Donnelley Financial SolutionsUS$46.941.8%
+US$21.0m		3.6%PE37.1x
FLD Fold HoldingsUS$1.4737.4%
+US$19.9m		-80.0%PS2.3x
MKTW MarketWiseUS$17.7429.8%
+US$10.0m		76.3%PE7.7x
VALU Value LineUS$35.980.3%
+US$844.9k		-9.0%PE15.4x
PMAX Powell MaxUS$0.364.2%
+US$129.9k		-86.5%PS0.7x

Latest News

COIN
US$181.10
Coinbase Global
7D
-10.5%
1Y
-6.6%

COIN: CLARITY Act Stablecoin Yield Restrictions Will Pressure Future Fee Pools

Narrative Update The analyst price target on Coinbase has shifted toward the lower end of a wide $120 to $440 range, as analysts weigh recent target cuts, modest model tweaks to discount rates and margins, and mixed views on CLARITY Act outcomes, stablecoin economics, and crypto trading volumes. Analyst Commentary Recent research paints a split picture on Coinbase, with some large banks pointing to long term opportunities around regulation, stablecoins, and product expansion, while a group of bearish analysts continues to flag execution and valuation risks.
CBOE
US$277.04
Cboe Global Markets
7D
-3.5%
1Y
27.1%

CBOE: Trading Volumes Volatility And New Products Will Shape A Balanced Outlook

Analysts have nudged their price targets on Cboe Global Markets higher, with recent upward revisions ranging from $5 to $23 as they factor in updated fair value estimates, modest adjustments to growth and margin assumptions, and a slightly lower discount rate. Analyst Commentary Recent research updates show a mix of optimism and caution around Cboe Global Markets, with several firms recalibrating price targets and fine tuning expectations ahead of upcoming quarters.
FLD
US$1.47
Fold Holdings
7D
37.4%
1Y
-80.0%
VALU
US$35.98
Value Line
7D
0.3%
1Y
-9.0%
DFIN
US$46.94
Donnelley Financial Solutions
7D
1.8%
1Y
3.6%
MCO
US$428.05
Moody's
7D
-2.4%
1Y
-8.9%
MORN
US$158.97
Morningstar
7D
-14.0%
1Y
-47.4%
CME
US$293.93
CME Group
7D
-4.8%
1Y
11.9%
SPGI
US$408.48
S&P Global
7D
-4.3%
1Y
-19.6%

SPGI: Ratings Franchise And AI Data Platform Will Support Premium Earnings

Analysts have trimmed their average price targets on S&P Global into a roughly $550 to $575 range. This reflects slightly higher competitive concerns around data and AI while still generally supporting a premium valuation driven by steady growth expectations and a forward P/E near 31x.
MSCI
US$530.99
MSCI
7D
-4.6%
1Y
-6.8%
NDAQ
US$83.74
Nasdaq
7D
-2.9%
1Y
9.7%

NDAQ: AI And Fintech Platform Strength Will Support Re Rating Through 2026

The implied fair value estimate for Nasdaq has inched up by about $0.80 to $108.53 as analysts factor in updated revenue growth assumptions, modest tweaks to discount and margin inputs, and a series of recent price target increases that highlight confidence in the durability of its platform and its role as a beneficiary of AI. Analyst Commentary Recent research commentary on Nasdaq has been broadly constructive, with several bullish analysts adjusting price targets higher and one upgrade following the latest investor day.
MKTW
US$17.74
MarketWise
7D
29.8%
1Y
76.3%
PMAX
US$0.36
Powell Max
7D
4.2%
1Y
-86.5%