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U.S. Financial Exchanges and Data Industry Analysis

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies34
  • 7D-8.0%
  • 3M-8.1%
  • 1Y-8.8%
  • YTDn/a

Over the last 7 days, the Financial Exchanges and Data industry has dropped 8.0%, driven by a pullback from S&P Global of 17%. However, the industry is down 8.8% over the past year. As for the next few years, earnings are expected to grow by 8.9% 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
Mon, 09 Feb 2026US$599.8bUS$77.0bUS$20.5b22.5x29.3x7.8x
Wed, 07 Jan 2026US$668.2bUS$76.5bUS$20.2b24.9x33.1x8.7x
Fri, 05 Dec 2025US$645.3bUS$76.5bUS$20.2b25.1x32x8.4x
Sun, 02 Nov 2025US$640.2bUS$76.0bUS$20.6b26.3x31x8.4x
Tue, 30 Sep 2025US$654.6bUS$333.4bUS$19.6b26.4x33.4x2x
Thu, 28 Aug 2025US$696.8bUS$324.3bUS$19.3b27.7x36.1x2.1x
Sat, 26 Jul 2025US$714.2bUS$72.0bUS$17.9b30.2x40x9.9x
Mon, 23 Jun 2025US$666.6bUS$71.5bUS$17.5b29.5x38.2x9.3x
Wed, 21 May 2025US$667.2bUS$71.5bUS$17.5b31.2x38.2x9.3x
Fri, 18 Apr 2025US$587.0bUS$69.4bUS$18.1b29.9x32.4x8.5x
Sun, 16 Mar 2025US$606.1bUS$67.8bUS$18.2b29.3x33.3x8.9x
Tue, 11 Feb 2025US$648.7bUS$65.2bUS$16.9b32.5x38.4x9.9x
Thu, 09 Jan 2025US$608.8bUS$64.4bUS$16.4b32.3x37.1x9.5x
Sat, 07 Dec 2024US$655.0bUS$62.5bUS$16.4b33.2x40x10.5x
Mon, 04 Nov 2024US$589.0bUS$62.3bUS$16.4b30.9x36x9.4x
Wed, 02 Oct 2024US$602.2bUS$59.6bUS$15.5b30.5x38.8x10.1x
Fri, 30 Aug 2024US$595.8bUS$59.6bUS$15.5b31.3x38.4x10x
Sun, 28 Jul 2024US$580.3bUS$57.7bUS$15.1b33.3x38.5x10.1x
Tue, 25 Jun 2024US$537.4bUS$56.7bUS$14.8b32.1x36.4x9.5x
Thu, 23 May 2024US$547.8bUS$56.7bUS$14.8b33.7x37.1x9.7x
Sat, 20 Apr 2024US$519.7bUS$53.7bUS$13.1b32.3x39.8x9.7x
Mon, 18 Mar 2024US$539.9bUS$53.4bUS$12.9b34.2x41.9x10.1x
Wed, 14 Feb 2024US$504.0bUS$52.9bUS$11.8b32.2x42.8x9.5x
Fri, 12 Jan 2024US$506.4bUS$51.9bUS$11.6b30x43.6x9.8x
Sun, 10 Dec 2023US$489.1bUS$51.9bUS$11.6b28.2x42.2x9.4x
Tue, 07 Nov 2023US$449.9bUS$51.6bUS$11.2b26.5x40.3x8.7x
Thu, 05 Oct 2023US$424.1bUS$51.0bUS$9.5b30.9x44.8x8.3x
Sat, 02 Sep 2023US$447.1bUS$51.4bUS$9.4b27.3x47.7x8.7x
Mon, 31 Jul 2023US$449.5bUS$51.2bUS$7.8b30.5x57.4x8.8x
Wed, 28 Jun 2023US$423.6bUS$50.9bUS$8.1b27x52x8.3x
Fri, 26 May 2023US$404.9bUS$50.9bUS$8.1b28.7x50.1x8x
Sun, 23 Apr 2023US$412.7bUS$50.4bUS$8.1b30.2x51x8.2x
Tue, 21 Mar 2023US$399.3bUS$50.4bUS$9.1b29.2x43.9x7.9x
Thu, 16 Feb 2023US$425.6bUS$52.3bUS$10.7b31.1x39.6x8.1x
Price to Earnings Ratio

39.6x


Total Market Cap: US$425.6bTotal Earnings: US$10.7bTotal Revenue: US$52.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Financial Exchanges and Data Industry Price to Earnings3Y Average 40.2x202420252026
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 29.3x which is lower than its 3-year average PE of 40.2x.
  • The 3-year average PS ratio of 8.8x is higher than the industry's current PS ratio of 7.8x.
Past Earnings Growth
  • The earnings for companies in the Financial Exchanges and Data industry have grown 24% 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 Market-0.071%
Financials1.26%
Capital Markets-4.27%
Financial Exchanges and Data-8.00%
Diversified Capital Markets-0.57%
Investment Banking and Brokerage-1.53%
Asset Management-5.12%
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
CME CME GroupUS$302.274.6%
+US$4.8b		23.5%PE27.1x
TW Tradeweb MarketsUS$112.138.8%
+US$1.8b		-9.8%PE29.4x
CBOE Cboe Global MarketsUS$273.363.1%
+US$868.5m		29.5%PE26.1x
MIAX Miami International HoldingsUS$42.231.2%
+US$42.7m		n/aPS2.7x

Latest News

ICE
US$169.00
Intercontinental Exchange
7D
-2.8%
1Y
1.3%

Intercontinental Exchange's (NYSE:ICE) Dividend Will Be Increased To $0.52

Feb 08
Intercontinental Exchange's (NYSE:ICE) Dividend Will Be Increased To $0.52
TW
US$112.13
Tradeweb Markets
7D
8.8%
1Y
-9.8%
CBOE
US$273.36
Cboe Global Markets
7D
3.1%
1Y
29.5%

CBOE: New Event And Crypto Contracts Will Shape Balanced Forward Outlook

Analysts have nudged their price targets for Cboe Global Markets higher, with recent moves such as TD Cowen and Piper Sandler lifting their views by US$7 and US$5, while UBS raised its target to US$280 and Barclays modestly trimmed to US$295, reflecting updated expectations around volumes, volatility and earnings potential. Analyst Commentary Recent research updates offer a mixed picture, with most price targets moving higher but one trimming its view while still keeping a positive rating.
FDS
US$207.32
FactSet Research Systems
7D
-18.5%
1Y
-55.6%

Future PE of 12.8x Shines Bright for FactSet Growth

At the current price of ~210 USD, the market is valuing FactSet as a certain victim of generative AI (“SaaSPocalypse”), completely ignoring the company’s structural transformation over the last 5 years. FactSet no longer sells just access to stock prices (which can be commoditized); it sells operational infrastructure built on four strategic pillars that are extremely hard for a chatbot to replace: Cobalt (Private Markets), CUSIP (Global Standards), Vermilion (Reporting), and Portware (Execution).
MSCI
US$557.78
MSCI
7D
-8.4%
1Y
-3.7%

MSCI: Pricing Power And ETF Inflows Will Support Premium Multiple

Analysts have lifted their price targets for MSCI, with our updated fair value estimate moving from US$659.40 to US$678.20 as they point to healthy ETF inflows, asset based fee support, and traits they say justify a premium P/E multiple. Analyst Commentary Recent Street research has clustered around upward price target revisions for MSCI, with several firms citing similar drivers for their updated views.
MIAX
US$42.23
Miami International Holdings
7D
1.2%
1Y
n/a

Options And Futures Expansion Will Reshape This Exchange Operator’s Long Term Potential

Catalysts About Miami International Holdings Miami International Holdings operates MIAX branded exchanges in options, equities, futures and international listings, built around proprietary exchange and clearing technology. What are the underlying business or industry changes driving this perspective?
COIN
US$165.12
Coinbase Global
7D
-15.2%
1Y
-39.8%
SPGI
US$439.28
S&P Global
7D
-16.8%
1Y
-15.4%
MORN
US$165.47
Morningstar
7D
-18.1%
1Y
-49.3%
CME
US$302.27
CME Group
7D
4.6%
1Y
23.5%
NDAQ
US$84.83
Nasdaq
7D
-12.4%
1Y
2.4%
MCO
US$452.49
Moody's
7D
-12.2%
1Y
-10.1%