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U.S. Capital Markets Industry Analysis

UpdatedMay 24, 2026
DataAggregated Company Financials
Companies433
  • 7D0.1%
  • 3M6.6%
  • 1Y10.4%
  • YTD-4.6%

Last week, the Capital Markets industry hasn't moved much but Goldman Sachs Group is up 5.1% in that time. The past year has been better, since the industry has gained 10% in that time. 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, 24 May 2026US$2.7tUS$758.7bUS$113.6b39.9x23.7x3.6x
Tue, 21 Apr 2026US$2.7tUS$745.2bUS$110.4b41.7x24.5x3.6x
Thu, 19 Mar 2026US$2.5tUS$730.4bUS$107.0b26.9x23.1x3.4x
Sat, 14 Feb 2026US$2.6tUS$736.5bUS$106.1b23.1x24.3x3.5x
Mon, 12 Jan 2026US$2.9tUS$656.7bUS$105.5b25.6x27.4x4.4x
Wed, 10 Dec 2025US$2.8tUS$656.1bUS$105.4b25.3x26.5x4.3x
Fri, 07 Nov 2025US$2.7tUS$649.6bUS$106.3b24.1x25.5x4.2x
Sun, 05 Oct 2025US$2.8tUS$875.2bUS$101.0b27.1x27.6x3.2x
Tue, 02 Sep 2025US$2.8tUS$866.2bUS$101.1b26.7x27.3x3.2x
Thu, 31 Jul 2025US$2.8tUS$598.0bUS$99.5b27.7x27.8x4.6x
Sat, 28 Jun 2025US$2.5tUS$590.7bUS$97.0b27.6x25.8x4.2x
Mon, 26 May 2025US$2.4tUS$590.2bUS$96.1b28.4x24.7x4x
Wed, 23 Apr 2025US$2.0tUS$563.2bUS$96.6b23.1x21x3.6x
Fri, 21 Mar 2025US$2.3tUS$559.2bUS$95.0b23.5x24x4.1x
Sun, 16 Feb 2025US$2.5tUS$554.6bUS$95.0b22.1x26.5x4.5x
Tue, 14 Jan 2025US$2.3tUS$512.8bUS$79.0b22.2x29x4.5x
Thu, 12 Dec 2024US$2.5tUS$524.3bUS$81.7b23.5x30.1x4.7x
Sat, 09 Nov 2024US$2.4tUS$509.1bUS$81.7b24.1x29x4.7x
Mon, 07 Oct 2024US$2.2tUS$493.1bUS$78.4b20.9x27.4x4.4x
Wed, 04 Sep 2024US$2.1tUS$492.2bUS$77.9b20.7x26.6x4.2x
Fri, 02 Aug 2024US$2.0tUS$477.1bUS$77.5b21.5x26.3x4.3x
Sun, 30 Jun 2024US$1.9tUS$467.6bUS$73.1b21.3x26.1x4.1x
Tue, 28 May 2024US$1.9tUS$467.2bUS$73.2b22.4x26.5x4.1x
Thu, 25 Apr 2024US$1.9tUS$447.0bUS$70.0b19.7x26.9x4.2x
Sat, 23 Mar 2024US$1.9tUS$440.6bUS$67.2b19.4x28.2x4.3x
Mon, 19 Feb 2024US$1.8tUS$439.7bUS$67.0b19.3x26.9x4.1x
Wed, 17 Jan 2024US$1.8tUS$434.6bUS$70.4b27.1x25.7x4.2x
Fri, 15 Dec 2023US$1.8tUS$432.8bUS$70.6b27.1x25.3x4.1x
Sun, 12 Nov 2023US$1.6tUS$432.1bUS$70.3b27.1x22.6x3.7x
Tue, 10 Oct 2023US$1.6tUS$425.5bUS$68.0b28x23.2x3.7x
Thu, 07 Sep 2023US$1.6tUS$426.3bUS$68.1b28.2x23.9x3.8x
Sat, 05 Aug 2023US$1.7tUS$420.3bUS$65.1b30.6x25.8x4x
Mon, 03 Jul 2023US$1.6tUS$419.2bUS$64.3b31.3x24.4x3.7x
Wed, 31 May 2023US$1.5tUS$419.3bUS$64.5b30.9x23.4x3.6x
Price to Earnings Ratio

23.4x


Total Market Cap: US$1.5tTotal Earnings: US$64.5bTotal Revenue: US$419.3bTotal 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 3.6x.
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 Market1.06%
Financials1.29%
Capital Markets0.11%
Investment Banking and Brokerage0.51%
Financial Exchanges and Data0.058%
Asset Management-0.36%
Diversified Capital Markets-4.96%
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 38.7x.
    • Analysts are expecting annual earnings growth of 10.8%, 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 8.6% 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
GS Goldman Sachs GroupUS$996.735.1%
+US$14.8b		66.5%PE17.9x
MS Morgan StanleyUS$201.034.4%
+US$13.4b		59.5%PE18.1x
SPGI S&P GlobalUS$417.603.6%
+US$4.3b		-18.1%PE25.9x
MCO Moody'sUS$449.124.7%
+US$3.5b		-4.4%PE31.4x
BNY Bank of New York MellonUS$139.153.1%
+US$2.8b		56.2%PE16.7x

Latest News

AMP
US$452.31
Ameriprise Financial
7D
-3.8%
1Y
-10.3%
MSCI
US$588.55
MSCI
7D
4.8%
1Y
5.3%
FUTU
US$89.76
Futu Holdings
7D
-33.3%
1Y
-19.7%
COIN
US$184.99
Coinbase Global
7D
-5.3%
1Y
-29.7%
Seeking Alpha • May 23

Coinbase: Decaying Subscription And Services Revenue Is A Red Flag (Rating Downgrade)

Summary Coinbase faces a downgrade to neutral due to disappointing Q1 earnings and evaporating adjusted EBITDA. COIN's subscription and services revenue, once a key growth driver, decelerated materially, undermining the prior investment thesis. The stock has declined ~20% YTD and ~30% over twelve months, with few near-term catalysts for rebound. Market leadership has shifted to AI-linked hardware and semiconductors, while crypto and software assets like COIN have underperformed. Read the full article on Seeking Alpha
SPGI
US$417.60
S&P Global
7D
3.6%
1Y
-18.1%
HOOD
US$73.64
Robinhood Markets
7D
-4.5%
1Y
16.6%
GS
US$996.73
Goldman Sachs Group
7D
5.1%
1Y
66.5%
MCO
US$449.12
Moody's
7D
4.7%
1Y
-4.4%
New Narrative • May 22

Moody's future looks bright with a 31.18x PE growth in the next 5 years

Moody’s is not just a credit rating agency — it is one of the foundational infrastructure providers of the global financial system. Every year, governments, corporations, banks, and structured finance issuers collectively raise trillions of dollars in debt, and most of that debt requires a Moody’s rating to access institutional capital markets.
MS
US$201.03
Morgan Stanley
7D
4.4%
1Y
59.5%
Seeking Alpha • May 22

Morgan Stanley Upgraded To Buy As Q1 Results Drive Bullish Momentum Again

Summary Morgan Stanley is upgraded to a 'Buy', driven by robust top-line growth, margin recovery, and strong competitive positioning. Morgan Stanley demonstrates proven revenue growth, positive client inflows, and benefits from M&A and resilient equity markets, supporting its diversified business model. Despite signs of overvaluation and modest 7% upside forecasts, its A-level credit ratings, strong liquidity, and low payout ratio reinforce its quality profile. Technical trends confirm a bullish pattern, with Morgan Stanley outperforming peers and the S&P 500, though fee compression in wealth management remains a risk. Read the full article on Seeking Alpha
CME
US$291.23
CME Group
7D
-2.6%
1Y
2.5%
FDS
US$232.00
FactSet Research Systems
7D
9.1%
1Y
-49.9%
KKR
US$94.04
KKR
7D
-3.0%
1Y
-19.7%
New Narrative • May 21

Incluso con un colapso brutal del crédito KKR mantendría beneficios relevantes

He encargado a COPILOT: integra la presentación de resultados 1Q 2026 de KKR dentro del investment memo general, manteniendo el tono sobrio, orientado a largo plazo y estilo Buffett. Investment Memo – KKR & Co. Inc.
NTRS
US$167.77
Northern Trust
7D
2.4%
1Y
58.6%
IBKR
US$81.35
Interactive Brokers Group
7D
-6.5%
1Y
57.5%
BNY
US$139.15
Bank of New York Mellon
7D
3.1%
1Y
56.2%
PS
US$35.67
Pershing Square
7D
-13.4%
1Y
n/a