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U.S. Capital Markets Industry Analysis

UpdatedJul 30, 2026
DataAggregated Company Financials
Companies437
  • 7D-2.0%
  • 3M3.6%
  • 1Y-1.7%
  • YTD-1.5%

Over the last 7 days, the Capital Markets industry has dropped 2.0%, driven by Goldman Sachs Group declining 11%. Meanwhile, Blackstone actually outperformed within the industry, gaining 5.4% in the last week. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 30 Jul 2026US$2.9tUS$776.8bUS$121.3b37.1x23.5x3.7x
Sat, 27 Jun 2026US$2.7tUS$759.5bUS$113.4b39.6x23.6x3.5x
Mon, 25 May 2026US$2.7tUS$758.7bUS$113.6b40.1x23.7x3.5x
Wed, 22 Apr 2026US$2.7tUS$748.3bUS$110.6b41.7x24.7x3.6x
Fri, 20 Mar 2026US$2.5tUS$730.5bUS$107.0b27.2x23x3.4x
Sun, 15 Feb 2026US$2.6tUS$736.2bUS$106.2b23.1x24.6x3.5x
Tue, 13 Jan 2026US$2.9tUS$656.7bUS$105.5b25.7x27.4x4.4x
Thu, 11 Dec 2025US$2.8tUS$656.1bUS$105.4b25.8x26.7x4.3x
Sat, 08 Nov 2025US$2.7tUS$649.9bUS$105.9b24.4x25.3x4.1x
Mon, 06 Oct 2025US$2.8tUS$875.2bUS$101.0b27.1x27.6x3.2x
Wed, 03 Sep 2025US$2.8tUS$866.2bUS$100.6b26.6x27.5x3.2x
Fri, 01 Aug 2025US$2.8tUS$597.9bUS$99.2b27.4x28x4.6x
Sun, 29 Jun 2025US$2.4tUS$590.7bUS$97.0b27.6x24.4x4x
Tue, 27 May 2025US$2.4tUS$590.2bUS$96.1b28.4x24.7x4x
Thu, 24 Apr 2025US$2.1tUS$563.6bUS$96.7b23.9x21.8x3.7x
Sat, 22 Mar 2025US$2.3tUS$559.2bUS$94.9b23.3x24x4.1x
Mon, 17 Feb 2025US$2.5tUS$554.6bUS$95.0b22.1x26.5x4.5x
Wed, 15 Jan 2025US$2.3tUS$519.7bUS$81.0b22.5x28.6x4.5x
Fri, 13 Dec 2024US$2.5tUS$524.3bUS$81.7b24.1x30.4x4.7x
Sun, 10 Nov 2024US$2.4tUS$509.4bUS$81.8b24x29.2x4.7x
Tue, 08 Oct 2024US$2.2tUS$493.1bUS$78.4b21.5x27.4x4.4x
Thu, 05 Sep 2024US$2.0tUS$492.2bUS$77.9b20.4x26x4.1x
Sat, 03 Aug 2024US$2.0tUS$478.7bUS$77.7b21.2x25.9x4.2x
Mon, 01 Jul 2024US$1.9tUS$467.6bUS$73.1b21.3x26.1x4.1x
Wed, 29 May 2024US$1.9tUS$467.2bUS$73.2b22.6x26.5x4.1x
Fri, 26 Apr 2024US$1.9tUS$450.1bUS$70.5b20x26.4x4.1x
Sun, 24 Mar 2024US$1.9tUS$440.6bUS$67.2b19.3x28.2x4.3x
Tue, 20 Feb 2024US$1.8tUS$439.7bUS$67.0b19.3x26.9x4.1x
Thu, 18 Jan 2024US$1.8tUS$433.6bUS$69.5b27.1x25.8x4.1x
Sat, 16 Dec 2023US$1.8tUS$432.8bUS$70.6b27.1x26x4.2x
Mon, 13 Nov 2023US$1.6tUS$432.1bUS$70.3b27.1x22.6x3.7x
Wed, 11 Oct 2023US$1.6tUS$425.6bUS$68.1b28.2x23.3x3.7x
Fri, 08 Sep 2023US$1.6tUS$426.3bUS$68.1b28.2x24x3.8x
Sun, 06 Aug 2023US$1.7tUS$420.3bUS$65.1b30.5x25.7x4x
Price to Earnings Ratio

25.7x


Total Market Cap: US$1.7tTotal Earnings: US$65.1bTotal Revenue: US$420.3bTotal 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 industry is trading close to its 3-year average PS ratio of 4.0x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 23% per year over the last three years.
  • Revenues for these companies have grown 23% 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-2.63%
Financials0.96%
Capital Markets-2.01%
Financial Exchanges and Data2.97%
Asset Management0.81%
Diversified Capital Markets0.22%
Investment Banking and Brokerage-6.09%
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 37.2x.
    • Analysts are expecting annual earnings growth of 9.8%, which is lower than the prior year's growth of 17.5% 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 18% over the next 5 years.
  • However this is lower than its past earnings growth rate of 50% 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
BX BlackstoneUS$129.405.4%
+US$7.0b		-26.2%PE29.4x
ICE Intercontinental ExchangeUS$154.288.2%
+US$6.7b		-16.9%PE22.2x
SCHW Charles SchwabUS$104.473.6%
+US$6.4b		6.0%PE18.7x
CME CME GroupUS$265.446.5%
+US$5.1b		-4.4%PE22.4x
BLK BlackRockUS$1.08k2.1%
+US$3.5b		-3.2%PE25.4x

Latest News

SPGI
US$419.64
S&P Global
7D
-2.2%
1Y
-20.7%
Seeking Alpha • 3h

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
SCHW
US$104.47
Charles Schwab
7D
3.6%
1Y
6.0%
ICE
US$154.28
Intercontinental Exchange
7D
8.2%
1Y
-16.9%
STT
US$176.04
State Street
7D
-5.0%
1Y
55.6%
CME
US$265.44
CME Group
7D
6.5%
1Y
-4.4%
HOOD
US$89.84
Robinhood Markets
7D
-11.6%
1Y
-12.8%
Seeking Alpha • 20h

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
BNY
US$152.50
Bank of New York Mellon
7D
-4.9%
1Y
49.1%
IBKR
US$86.26
Interactive Brokers Group
7D
-7.7%
1Y
30.3%
NDAQ
US$95.55
Nasdaq
7D
5.7%
1Y
-0.7%
MS
US$203.13
Morgan Stanley
7D
-7.0%
1Y
40.1%
BLK
US$1,079.19
BlackRock
7D
2.1%
1Y
-3.2%
BX
US$129.40
Blackstone
7D
5.4%
1Y
-26.2%
Narrative Update • Jul 27

BX: AI Infrastructure Deals And Fee Stability Will Shape Future Execution Risks

Blackstone's analyst fair value estimate has been nudged up from $116 to $119 as analysts factor in recent price target increases, stronger than expected Q2 transaction fees and fundraising, and updated earnings assumptions that reflect resilient fee streams and a more constructive outlook on alternative asset managers. Analyst Commentary Recent Street research on Blackstone points to a mixed picture, with several firms lifting price targets after Q2 results while others highlight risks around flows, valuation, and earnings visibility.
GS
US$980.75
Goldman Sachs Group
7D
-10.7%
1Y
34.2%
KKR
US$99.28
KKR
7D
3.9%
1Y
-34.0%
MCO
US$483.24
Moody's
7D
-1.3%
1Y
-5.7%
CBOE
US$307.81
Cboe Global Markets
7D
8.1%
1Y
27.7%