Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Capital Markets Industry Analysis

UpdatedJun 07, 2026
DataAggregated Company Financials
Companies432
  • 7D-1.7%
  • 3M6.7%
  • 1Y7.4%
  • YTD-5.1%

Over the last 7 days, the Capital Markets industry has dropped 1.7%, driven by pullbacks in Robinhood Markets and Coinbase Global of 13% and 19%, respectively. In the past year, the industry has gained 7.4%. Looking forward, earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 07 Jun 2026US$2.7tUS$759.0bUS$113.4b38.9x23.6x3.5x
Tue, 05 May 2026US$2.7tUS$749.0bUS$113.1b42.6x23.7x3.6x
Thu, 02 Apr 2026US$2.5tUS$736.8bUS$107.0b34.1x23.2x3.4x
Sat, 28 Feb 2026US$2.7tUS$734.8bUS$106.7b22.6x24.9x3.6x
Mon, 26 Jan 2026US$2.9tUS$663.0bUS$106.5b24.8x26.8x4.3x
Wed, 24 Dec 2025US$2.8tUS$656.5bUS$105.5b25.6x26.9x4.3x
Fri, 21 Nov 2025US$2.6tUS$654.6bUS$106.2b23.4x24.5x4x
Sun, 19 Oct 2025US$2.7tUS$625.2bUS$104.6b25.9x25.7x4.3x
Tue, 16 Sep 2025US$2.8tUS$865.8bUS$100.6b27.1x27.9x3.2x
Thu, 14 Aug 2025US$2.8tUS$866.2bUS$101.0b26.6x27.7x3.2x
Sat, 12 Jul 2025US$2.6tUS$590.5bUS$97.0b28.6x27.3x4.5x
Mon, 09 Jun 2025US$2.4tUS$590.4bUS$97.3b28.1x25x4.1x
Wed, 07 May 2025US$2.2tUS$566.7bUS$97.1b25x23.2x4x
Fri, 04 Apr 2025US$2.3tUS$558.6bUS$94.9b24.2x24x4.1x
Sun, 02 Mar 2025US$2.4tUS$554.9bUS$95.4b21.9x25.5x4.4x
Tue, 28 Jan 2025US$2.5tUS$537.2bUS$89.2b23.1x28.5x4.7x
Thu, 26 Dec 2024US$2.4tUS$526.1bUS$81.6b23.3x29.5x4.6x
Sat, 23 Nov 2024US$2.5tUS$524.4bUS$81.7b24.3x30.4x4.7x
Mon, 21 Oct 2024US$2.3tUS$498.9bUS$81.1b23x28.4x4.6x
Wed, 18 Sep 2024US$2.1tUS$491.5bUS$77.8b20.9x26.7x4.2x
Fri, 16 Aug 2024US$2.0tUS$492.0bUS$77.9b20.5x25.7x4.1x
Sun, 14 Jul 2024US$2.0tUS$467.8bUS$73.3b20.5x27.2x4.3x
Tue, 11 Jun 2024US$1.9tUS$467.0bUS$73.1b21.4x25.9x4.1x
Thu, 09 May 2024US$1.9tUS$460.1bUS$72.5b20.1x26.3x4.1x
Sat, 06 Apr 2024US$1.9tUS$441.1bUS$67.3b21x28x4.3x
Mon, 04 Mar 2024US$1.8tUS$440.8bUS$67.3b19.2x27.2x4.2x
Wed, 31 Jan 2024US$1.8tUS$433.2bUS$67.7b28x27.3x4.3x
Fri, 29 Dec 2023US$1.9tUS$432.8bUS$70.6b27.8x26.6x4.3x
Sun, 26 Nov 2023US$1.7tUS$432.8bUS$70.6b27.1x23.6x3.8x
Tue, 24 Oct 2023US$1.5tUS$427.0bUS$67.0b27.5x22.2x3.5x
Thu, 21 Sep 2023US$1.7tUS$427.0bUS$68.1b28.1x24.3x3.9x
Sat, 19 Aug 2023US$1.6tUS$426.3bUS$68.2b28.7x23.5x3.8x
Mon, 17 Jul 2023US$1.6tUS$421.1bUS$64.6b31x25.1x3.9x
Wed, 14 Jun 2023US$1.6tUS$419.4bUS$64.5b31.1x24.2x3.7x
Price to Earnings Ratio

24.2x


Total Market Cap: US$1.6tTotal Earnings: US$64.5bTotal Revenue: US$419.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Capital Markets Industry Price to Earnings3Y Average 25.8x202420252026
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 25.8x.
  • The 3-year average PS ratio of 4.0x is higher than the industry's current PS ratio of 3.5x.
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 Market-2.79%
Financials0.65%
Capital Markets-1.66%
Diversified Capital Markets4.27%
Investment Banking and Brokerage-0.13%
Asset Management-1.53%
Financial Exchanges and Data-5.06%
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 38.4x.
    • Analysts are expecting annual earnings growth of 10.4%, which is lower than the prior year's growth of 18.5% 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 16% over the next 5 years.
  • However this is lower than its past earnings growth rate of 56% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 8.1% 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
MS Morgan StanleyUS$211.931.9%
+US$6.2b		60.8%PE19.1x
GS Goldman Sachs GroupUS$1.04k1.3%
+US$4.0b		69.2%PE18.7x
SCHW Charles SchwabUS$88.841.7%
+US$2.6b		0.7%PE17.1x
BNY Bank of New York MellonUS$142.392.1%
+US$2.0b		57.7%PE17.1x
STT State StreetUS$161.753.9%
+US$1.7b		64.0%PE15.8x

Latest News

CBOE
US$281.91
Cboe Global Markets
7D
-15.5%
1Y
26.6%
NDAQ
US$87.28
Nasdaq
7D
-5.7%
1Y
2.0%
GS
US$1,038.68
Goldman Sachs Group
7D
1.3%
1Y
69.2%
STT
US$161.75
State Street
7D
3.9%
1Y
64.0%
Narrative Update • Jun 06

STT: Fee Platforms And Operating Leverage Inflection Support Balanced Long Term Upside

Analysts have raised the price target for State Street by $9 to $171, citing expectations for stronger organic growth, better operating leverage and improved EPS visibility following recent management meetings. Analyst Commentary Recent Street research shows a cluster of higher price targets on State Street, with several bullish analysts pointing to what they view as improved visibility on organic growth, operating leverage, and earnings power.
KKR
US$93.40
KKR
7D
-2.6%
1Y
-24.3%
MS
US$211.93
Morgan Stanley
7D
1.9%
1Y
60.8%
ICE
US$141.50
Intercontinental Exchange
7D
-4.3%
1Y
-20.8%
LPLA
US$288.49
LPL Financial Holdings
7D
5.4%
1Y
-25.8%
Seeking Alpha • Jun 05

LPL Financial: The Street Is Looking At AI Risk, Not The Earnings Story (Upgrade)

Summary LPL Financial Holdings Inc. is upgraded to buy, with valuation now attractive and strong earnings growth projected for 2026 and beyond. LPLA's Q1 saw 30% YoY client asset growth to $2.3 trillion, robust pre-tax margins, and resumed share buybacks. Despite lagging SPY and XLF, LPLA targets mid- to high single-digit organic growth and potential upside to $336/share at 16x P/E. Key LPLA risks include AI-driven margin pressure, M&A discipline amid elevated valuations, and advisor retention challenges. Read the full article on Seeking Alpha
CME
US$257.40
CME Group
7D
-5.9%
1Y
-6.1%
Narrative Update • Jun 05

CME: Crypto And AI Futures Expansion Will Shape Future Earnings Power

Analysts have trimmed their average price target for CME Group to about $306.47. This reflects concerns that revenue momentum could soften as geopolitical volatility eases and that fresh competition in bitcoin perpetual futures may weigh on exchange valuations, even as several firms still see the competitive risk as manageable.
BLK
US$995.60
BlackRock
7D
-4.9%
1Y
0.7%
COIN
US$152.40
Coinbase Global
7D
-19.4%
1Y
-39.3%
New Narrative • Jun 05

Coinbase is your leverage on Crypto

I think Coinbase is best understood as a leveraged bet on long-term crypto adoption, rather than a normal operating business with smooth, predictable growth. What matters most is not whether next year looks clean, but whether crypto becomes a meaningfully larger asset class over time.
HOOD
US$82.47
Robinhood Markets
7D
-12.5%
1Y
10.1%
Narrative Update • Jun 05

Robinhood Markets will shape the future with World Cup prediction trading and Trump accounts

Update 1: Robinhood launched 2026 FIFA World Cup prediction market trading and unveiling new fee reductions for customers. Update 2: Trump accounts, created under President Donald Trump's One Big Beautiful Bill Act of 2025, will see the U.S. Treasury deposit $1,000 in seed money for children born between 2025 and 2028 who have a valid Social Security number.
SCHW
US$88.84
Charles Schwab
7D
1.7%
1Y
0.7%
Narrative Update • Jun 03

SCHW: AI And Crypto Expansion Are Expected To Support Future Upside

Analyst price targets for Charles Schwab have edged higher, with the fair value estimate moving from $115.20 to $115.85 as analysts factor in the updated financial outlook, increased revenue visibility from recent investor day commentary, and their view that AI related concerns look less justified given management’s guidance. Analyst Commentary Recent research points to a generally constructive stance on Charles Schwab, with a cluster of higher fair value estimates following the investor day and updated outlook.
NTRS
US$170.47
Northern Trust
7D
3.0%
1Y
58.0%
BNY
US$142.39
Bank of New York Mellon
7D
2.1%
1Y
57.7%
RJF
US$151.45
Raymond James Financial
7D
5.6%
1Y
3.2%