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U.S. Capital Markets Industry Analysis

UpdatedAug 02, 2026
DataAggregated Company Financials
Companies437
  • 7D-0.4%
  • 3M5.2%
  • 1Y2.4%
  • YTD-0.4%

Last week, the Capital Markets industry hasn't moved much but Charles Schwab is up 3.2% in that time. In line with that, the industry has also been flat over the past 12 months. Earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 02 Aug 2026US$2.8tUS$780.2bUS$120.8b37.5x23.3x3.6x
Tue, 30 Jun 2026US$2.7tUS$760.0bUS$113.3b39.6x23.4x3.5x
Thu, 28 May 2026US$2.7tUS$758.7bUS$113.6b39.4x23.7x3.6x
Sat, 25 Apr 2026US$2.7tUS$747.4bUS$111.5b42x23.8x3.6x
Mon, 23 Mar 2026US$2.5tUS$730.4bUS$107.0b28.6x22.9x3.4x
Wed, 18 Feb 2026US$2.6tUS$734.4bUS$106.3b23.1x24.5x3.6x
Fri, 16 Jan 2026US$2.9tUS$660.9bUS$107.0b25.7x27.2x4.4x
Sun, 14 Dec 2025US$2.8tUS$656.5bUS$105.5b25.2x26.6x4.3x
Tue, 11 Nov 2025US$2.7tUS$650.9bUS$106.2b24x25.4x4.1x
Thu, 09 Oct 2025US$2.8tUS$875.1bUS$101.0b25.7x27.4x3.2x
Sat, 06 Sep 2025US$2.8tUS$865.8bUS$100.6b26.5x27.3x3.2x
Mon, 04 Aug 2025US$2.7tUS$602.3bUS$101.4b26.1x26.4x4.5x
Wed, 02 Jul 2025US$2.5tUS$590.7bUS$97.0b27.6x26x4.3x
Fri, 30 May 2025US$2.4tUS$590.3bUS$97.3b28.5x24.7x4.1x
Sun, 27 Apr 2025US$2.2tUS$564.6bUS$96.1b24.1x22.8x3.9x
Tue, 25 Mar 2025US$2.3tUS$559.1bUS$94.9b23.8x23.9x4.1x
Thu, 20 Feb 2025US$2.6tUS$580.5bUS$99.5b22x26.2x4.5x
Sat, 18 Jan 2025US$2.4tUS$535.5bUS$88.0b22.8x27.7x4.6x
Mon, 16 Dec 2024US$2.5tUS$524.3bUS$81.7b23.5x30.1x4.7x
Wed, 13 Nov 2024US$2.5tUS$509.5bUS$81.7b24x30.1x4.8x
Fri, 11 Oct 2024US$2.2tUS$493.0bUS$78.5b21.6x27.6x4.4x
Sun, 08 Sep 2024US$2.0tUS$491.4bUS$77.8b20.6x25.5x4x
Tue, 06 Aug 2024US$1.9tUS$478.4bUS$77.5b20.6x25x4x
Thu, 04 Jul 2024US$1.9tUS$467.7bUS$73.1b21.4x26.4x4.1x
Sat, 01 Jun 2024US$1.9tUS$467.1bUS$73.1b21.9x25.9x4x
Mon, 29 Apr 2024US$1.9tUS$450.4bUS$70.7b20.2x26.5x4.2x
Wed, 27 Mar 2024US$1.9tUS$440.8bUS$67.3b19.2x28.2x4.3x
Fri, 23 Feb 2024US$1.8tUS$439.7bUS$67.1b19.1x26.8x4.1x
Sun, 21 Jan 2024US$1.8tUS$433.5bUS$69.1b27.7x26.1x4.2x
Tue, 19 Dec 2023US$1.8tUS$432.8bUS$70.6b27.1x26x4.2x
Thu, 16 Nov 2023US$1.6tUS$432.6bUS$70.6b26.6x23x3.8x
Sat, 14 Oct 2023US$1.6tUS$425.8bUS$68.3b28x22.8x3.7x
Mon, 11 Sep 2023US$1.5tUS$426.3bUS$68.1b28.2x22.5x3.6x
Wed, 09 Aug 2023US$1.7tUS$426.2bUS$67.5b30.4x24.8x3.9x
Price to Earnings Ratio

24.8x


Total Market Cap: US$1.7tTotal Earnings: US$67.5bTotal Revenue: US$426.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Capital Markets Industry Price to Earnings3Y Average 25.7x202420252026
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 25.7x.
  • The 3-year average PS ratio of 4.0x is higher than the industry's current PS ratio of 3.6x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 21% per year over the last three years.
  • Revenues for these companies have grown 22% 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 Market0.97%
Financials0.95%
Capital Markets-0.35%
Financial Exchanges and Data1.50%
Asset Management0.76%
Diversified Capital Markets-1.56%
Investment Banking and Brokerage-2.00%
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 37.1x.
    • Analysts are expecting annual earnings growth of 11.9%, which is lower than the prior year's growth of 20.1% per year.
  • 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 18% over the next 5 years.
  • However this is lower than its past earnings growth rate of 54% per year.
  • In contrast, the Diversified Capital Markets industry is expected to see its earnings decline by 23% 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
SCHW Charles SchwabUS$105.243.2%
+US$5.7b		10.2%PE18.8x
BLK BlackRockUS$1.09k3.3%
+US$5.4b		-0.1%PE25.7x
CME CME GroupUS$267.794.9%
+US$4.5b		-4.6%PE22.6x
ICE Intercontinental ExchangeUS$152.484.6%
+US$3.8b		-17.4%PE21.4x
CBOE Cboe Global MarketsUS$310.238.8%
+US$2.6b		25.2%PE24x

Latest News

BLK
US$1,090.39
BlackRock
7D
3.3%
1Y
-0.1%
BNY
US$156.33
Bank of New York Mellon
7D
-1.6%
1Y
56.6%
MS
US$210.42
Morgan Stanley
7D
-1.9%
1Y
51.3%
CBOE
US$310.23
Cboe Global Markets
7D
8.8%
1Y
25.2%
BX
US$127.75
Blackstone
7D
-1.7%
1Y
-25.0%
KKR
US$101.43
KKR
7D
2.1%
1Y
-28.8%
LPLA
US$353.70
LPL Financial Holdings
7D
7.6%
1Y
-4.4%
Narrative Update • Aug 01

LPLA: Technology Investments And Mixed Research Views Will Shape Balanced Outlook

The analyst price target for LPL Financial Holdings has been raised by $30 to $330, with analysts citing refreshed valuation work that incorporates updated cash flow timing and recent Q2 modeling changes as key drivers for the adjustment. Analyst Commentary Recent Street research on LPL Financial Holdings shows a wide range of updated price targets and ratings, with several large firms adjusting their models following Q2 results and revised valuation frameworks.
COIN
US$146.26
Coinbase Global
7D
-7.6%
1Y
-53.5%
ICE
US$152.48
Intercontinental Exchange
7D
4.6%
1Y
-17.4%
SCHW
US$105.24
Charles Schwab
7D
3.2%
1Y
10.2%
MKTX
US$162.30
MarketAxess Holdings
7D
39.1%
1Y
-21.9%
GS
US$1,018.38
Goldman Sachs Group
7D
-4.0%
1Y
43.5%
Narrative Update • Jul 31

GS: Future Returns Will Reflect AI Banking Upside And Legal Risk Balancing

Analysts have raised their fair value estimate for Goldman Sachs Group from $1,050 to $1,325, citing updated assumptions that include revised discount rates, revenue growth, profit margins, and future P/E expectations. What’s in the News for Goldman Sachs Group Goldman Sachs reported record Q2 2026 results with earnings per share of US$20.98 and revenue of US$20.34b, which was 39.5% higher year on year and 24% above forecasts.
SPGI
US$411.93
S&P Global
7D
-3.4%
1Y
-24.5%
Seeking Alpha • Jul 30

S&P Global: Why This Selloff Is A Rare Buying Opportunity

Summary S&P Global (SPGI) exemplifies a capital-light, competitively advantaged, and resilient business model ideal for long-term holding. SPGI’s core offerings—risk management, benchmark data, and credit evaluation—are increasingly vital amid market volatility and geopolitical risks. A leaner, spun-off SPGI is quietly getting better, not worse — the Mobility separation streamlines the business into a higher-margin faster growing business. I assess SPGI’s current valuation using a DCF model, factoring in recast segment data and pro-forma financials post-spin-off. Read the full article on Seeking Alpha
CME
US$267.79
CME Group
7D
4.9%
1Y
-4.6%
HOOD
US$86.56
Robinhood Markets
7D
-8.8%
1Y
-13.4%
Seeking Alpha • Jul 29

Robinhood: A Decent Q2 Despite Crypto Flop

Summary Robinhood Markets, Inc. reported record Q2 net revenue of $1.31B and EPS of $0.62, but earnings were boosted by one-off items. HOOD's business remains heavily reliant on speculative retail trading, with options and event contracts driving growth while crypto revenues declined sharply. Management trimmed 2026 expense guidance and executed workforce reductions, yet continues aggressive expansion into blockchain, tokenization, and global crypto markets. At a $82B market cap and 44x trailing earnings, HOOD stock's valuation prices in sustained growth, but profitability remains highly sensitive to retail trading sentiment. Read the full article on Seeking Alpha
IBKR
US$87.99
Interactive Brokers Group
7D
-4.1%
1Y
38.3%