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U.S. Capital Markets Industry Analysis

UpdatedNov 18, 2025
DataAggregated Company Financials
Companies365
  • 7D-5.4%
  • 3M-5.4%
  • 1Y4.1%
  • YTD7.1%

Over the last 7 days, the Capital Markets industry has dropped 5.4%, driven by Robinhood Markets declining 13%. Over the past 12 months, the industry was up 4.1%. 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
Wed, 19 Nov 2025US$2.7tUS$654.1bUS$105.8b23.7x25.2x4.1x
Fri, 17 Oct 2025US$2.8tUS$623.0bUS$103.2b25.1x26.7x4.4x
Sun, 14 Sep 2025US$2.8tUS$865.8bUS$100.6b27.2x27.9x3.2x
Tue, 12 Aug 2025US$2.7tUS$614.4bUS$101.0b26.6x27.2x4.5x
Thu, 10 Jul 2025US$2.6tUS$590.6bUS$97.0b28.2x27x4.4x
Sat, 07 Jun 2025US$2.4tUS$590.4bUS$97.3b28.6x24.7x4.1x
Mon, 05 May 2025US$2.2tUS$566.3bUS$97.2b25.3x22.6x3.9x
Wed, 02 Apr 2025US$2.2tUS$559.0bUS$94.9b25.7x23.5x4x
Fri, 28 Feb 2025US$2.4tUS$554.9bUS$95.4b20.5x25.1x4.3x
Sun, 26 Jan 2025US$2.3tUS$537.1bUS$89.2b23.2x26x4.3x
Tue, 24 Dec 2024US$2.4tUS$526.2bUS$81.7b23.2x28.9x4.5x
Thu, 21 Nov 2024US$2.4tUS$524.3bUS$81.7b23.7x29.9x4.7x
Sat, 19 Oct 2024US$2.3tUS$498.9bUS$81.1b23x28.1x4.6x
Mon, 16 Sep 2024US$2.0tUS$491.4bUS$77.8b20.5x26.3x4.2x
Wed, 14 Aug 2024US$1.9tUS$491.6bUS$77.9b20.7x24.9x3.9x
Fri, 12 Jul 2024US$2.0tUS$467.7bUS$73.1b20.6x26.8x4.2x
Sun, 09 Jun 2024US$1.9tUS$467.0bUS$73.1b21.1x25.7x4x
Tue, 07 May 2024US$1.9tUS$460.1bUS$72.5b20.1x26.2x4.1x
Thu, 04 Apr 2024US$1.9tUS$441.1bUS$67.3b21.3x28.3x4.3x
Sat, 02 Mar 2024US$1.8tUS$440.5bUS$67.4b19.2x27.1x4.1x
Mon, 29 Jan 2024US$1.8tUS$433.2bUS$67.6b28.2x27.2x4.2x
Wed, 27 Dec 2023US$1.9tUS$432.9bUS$70.6b28.2x26.3x4.3x
Fri, 24 Nov 2023US$1.6tUS$432.7bUS$70.5b26.9x23.3x3.8x
Sun, 22 Oct 2023US$1.5tUS$427.0bUS$67.0b27.5x22.3x3.5x
Tue, 19 Sep 2023US$1.7tUS$427.0bUS$68.1b28.1x24.6x3.9x
Thu, 17 Aug 2023US$1.6tUS$426.3bUS$68.2b29.3x23.6x3.8x
Sat, 15 Jul 2023US$1.6tUS$421.2bUS$64.4b30.9x25.2x3.9x
Mon, 12 Jun 2023US$1.6tUS$419.4bUS$64.5b30.7x24.1x3.7x
Wed, 10 May 2023US$1.5tUS$419.0bUS$64.6b27.2x23.1x3.6x
Fri, 07 Apr 2023US$1.5tUS$423.7bUS$68.1b29x22.5x3.6x
Sun, 05 Mar 2023US$1.7tUS$422.9bUS$69.3b28.2x24.6x4x
Tue, 31 Jan 2023US$1.7tUS$434.0bUS$79.4b28x21.7x4x
Thu, 29 Dec 2022US$1.6tUS$443.6bUS$85.8b27.3x18.4x3.6x
Sat, 26 Nov 2022US$1.7tUS$443.4bUS$85.8b27.2x19.9x3.8x
Price to Earnings Ratio

19.9x


Total Market Cap: US$1.7tTotal Earnings: US$85.8bTotal Revenue: US$443.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Capital Markets Industry Price to Earnings3Y Average 25.3x202320242025
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 25.3x.
  • 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 7.2% per year over the last three years.
  • Revenues for these companies have grown 14% 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-3.69%
Financials-3.79%
Capital Markets-5.35%
Diversified Capital Markets1.54%
Financial Exchanges and Data-3.18%
Asset Management-5.70%
Investment Banking and Brokerage-6.31%
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 40.3x.
    • Analysts are expecting annual earnings growth of 8.0%, which is lower than the prior year's growth of 13.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Capital Markets industry, expecting annual earnings growth of 56% over the next 5 years.
  • This is better than its past earnings decline of 31% per year.
  • In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 8.0% 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
ICE Intercontinental ExchangeUS$152.780.5%
+US$450.4m		-3.3%PE27.5x
MKTX MarketAxess HoldingsUS$172.971.9%
+US$120.4m		-34.8%PE29.3x
BKKT Bakkt HoldingsUS$17.12-20.3%
US$58.0m		-42.0%PS0.1x
CRAC.U Crown Reserve Acquisition IUS$10.09-0.1%
US$22.5m		n/an/a
FDS FactSet Research SystemsUS$272.110.2%
+US$20.6m		-43.5%PE17.1x

Latest News

BX
US$136.53
Blackstone
7D
-5.8%
1Y
-26.2%
RDAC
US$12.83
Rising Dragon Acquisition
7D
22.8%
1Y
n/a
GS
US$776.30
Goldman Sachs Group
7D
-4.2%
1Y
33.5%
KKR
US$114.18
KKR
7D
-5.9%
1Y
-25.3%
ICE
US$152.78
Intercontinental Exchange
7D
0.5%
1Y
-3.3%
COIN
US$261.79
Coinbase Global
7D
-13.9%
1Y
-18.2%
FDS
US$272.11
FactSet Research Systems
7D
0.2%
1Y
-43.5%

FDS: AI Adaptation And Leadership Will Drive Improved Market Positioning Ahead

Analysts have slightly lowered their price target for FactSet Research Systems, now expecting $335.94 per share compared to $337.81 previously. The change is attributed to continued investment-related margin pressures and evolving competitive dynamics, as highlighted in recent research notes.
BKKT
US$17.12
Bakkt Holdings
7D
-20.3%
1Y
-42.0%
BLK
US$1,019.14
BlackRock
7D
-6.1%
1Y
-0.9%

BLK: Long-Term Net Inflows And Major Data Center Deal Will Drive Outperformance

Analysts have raised their price targets on BlackRock, with most now ranging from approximately $1,312 to $1,407. They cite the company’s strong Q3 results, robust net inflows, and enhanced long-term growth prospects.
BCG
US$2.14
Binah Capital Group
7D
51.8%
1Y
-29.8%

Binah Capital Group, Inc.'s (NASDAQ:BCG) 26% Dip In Price Shows Sentiment Is Matching Revenues

Nov 13
Binah Capital Group, Inc.'s (NASDAQ:BCG) 26% Dip In Price Shows Sentiment Is Matching Revenues
SCHW
US$92.28
Charles Schwab
7D
-4.0%
1Y
15.1%

SCHW: Acquisition of Forge Global Will Expand Access to Private Markets

Charles Schwab's analyst price target has been raised modestly from $111.50 to $111.95, as analysts cite solid Q3 results, improved revenue growth prospects, and ongoing capital return capacity. These factors support a slightly stronger outlook for the shares.
MKTX
US$172.97
MarketAxess Holdings
7D
1.9%
1Y
-34.8%
CRAC.U
US$10.09
Crown Reserve Acquisition I
7D
-0.1%
1Y
n/a
MS
US$159.83
Morgan Stanley
7D
-4.0%
1Y
20.9%

MS: Share Repurchase Program Will Balance Minor Financial Improvements Ahead

Analysts have raised Morgan Stanley's price target slightly to $168.15 from $167.35, citing minor improvements in revenue growth and profit margin expectations. What's in the News Morgan Stanley completed the repurchase of 7,440,032 shares for $1,084.14 million between July and September 2025.
HOOD
US$114.30
Robinhood Markets
7D
-13.4%
1Y
224.3%

HOOD: Accelerating Product Rollouts and New AI Capabilities Will Drive Future Market Share Gains

Robinhood Markets saw its analyst price target rise from approximately $134 to nearly $152 per share, as analysts cited strong multi-product revenue growth, continued user expansion, and new AI-driven capabilities that support improved profitability and a positive outlook for future performance. Analyst Commentary Bullish analysts point to a robust period for Robinhood, with recent price target increases reflecting ongoing confidence in the company's forward trajectory.
BMHL
US$3.58
Bluemount Holdings
7D
13.7%
1Y
n/a