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U.S. Capital Markets Industry Analysis

UpdatedMay 28, 2026
DataAggregated Company Financials
Companies432
  • 7D-0.3%
  • 3M0.9%
  • 1Y8.7%
  • YTD-5.2%

Over the last 7 days, the Capital Markets industry has risen 1.7%, driven by gains from Morgan Stanley of 1.9%. This takes the industry's 12 month performance to a gain of 8.3%. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Fri, 07 Jul 2023US$1.6tUS$420.9bUS$64.3b31.8x24.1x3.7x
Sun, 04 Jun 2023US$1.5tUS$418.9bUS$64.4b31x23.8x3.7x
Price to Earnings Ratio

23.8x


Total Market Cap: US$1.5tTotal Earnings: US$64.4bTotal Revenue: US$418.9bTotal 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 Market1.27%
Financials-0.40%
Capital Markets-0.34%
Asset Management1.27%
Investment Banking and Brokerage-0.76%
Financial Exchanges and Data-1.97%
Diversified Capital Markets-2.40%
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 38.6x.
    • 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 58% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 8.2% 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$201.611.9%
+US$6.1b		58.1%PE18.2x
GS Goldman Sachs GroupUS$996.471.5%
+US$4.4b		63.8%PE17.9x
BLK BlackRockUS$1.07k1.8%
+US$2.9b		10.2%PE26.6x
BNY Bank of New York MellonUS$139.741.9%
+US$1.8b		57.4%PE16.8x
MSCI MSCIUS$603.473.7%
+US$1.6b		7.2%PE33.3x

Latest News

STT
US$157.92
State Street
7D
2.5%
1Y
63.1%
GS
US$996.47
Goldman Sachs Group
7D
1.5%
1Y
63.8%
Seeking Alpha • 20h

Goldman Sachs Becomes Top Underwriter For SpaceX IPO, Posts Historically Strong Quarter

Summary SpaceX has selected Goldman Sachs as lead underwriter for its upcoming IPO, signaling a landmark event for Wall Street. Current private valuations for SpaceX are circulating at $1.25 trillion, positioning the IPO as potentially the largest in history. Goldman Sachs' involvement underscores institutional confidence in SpaceX's capital markets appeal and scale. Anticipation is high that this offering will be truly earth-shattering, given the scale and media attention. Read the full article on Seeking Alpha
FUTU
US$110.22
Futu Holdings
7D
-11.6%
1Y
2.3%
ARES
US$126.58
Ares Management
7D
3.7%
1Y
-22.8%
IBKR
US$80.95
Interactive Brokers Group
7D
-3.4%
1Y
53.6%
COIN
US$173.78
Coinbase Global
7D
-9.2%
1Y
-31.7%
MCO
US$451.56
Moody's
7D
1.6%
1Y
-5.6%
BNY
US$139.74
Bank of New York Mellon
7D
1.9%
1Y
57.4%
Narrative Update • May 24

BNY: Capital Returns And Digital Collateral Push Will Support A Steady Outlook

Analysts have nudged their price target for Bank of New York Mellon Corporation slightly lower to about $142 from roughly $142 previously, reflecting modest tweaks to discount rate and revenue growth assumptions, along with a marginally higher future P/E multiple in their valuation work. What's in the News BNY plans to change its New York Stock Exchange ticker symbol to BNY from BK, effective May 21, 2026 (Key Developments).
BLK
US$1,070.34
BlackRock
7D
1.8%
1Y
10.2%
AMP
US$443.17
Ameriprise Financial
7D
-3.1%
1Y
-13.1%
MSCI
US$603.47
MSCI
7D
3.7%
1Y
7.2%
RJF
US$145.40
Raymond James Financial
7D
-4.4%
1Y
-0.6%
MS
US$201.61
Morgan Stanley
7D
1.9%
1Y
58.1%
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$279.10
CME Group
7D
-3.8%
1Y
-2.4%
SCHW
US$85.61
Charles Schwab
7D
-5.0%
1Y
-2.8%
CBOE
US$347.69
Cboe Global Markets
7D
-3.7%
1Y
53.9%