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

U.S. Capital Markets Industry Analysis

UpdatedJun 25, 2026
DataAggregated Company Financials
Companies430
  • 7D-4.2%
  • 3M10.6%
  • 1Y4.1%
  • YTD-4.6%

Over the last 7 days, the Capital Markets industry has dropped 4.2%, driven by declines in Robinhood Markets and BlackRock of 14% and 7.4%, respectively. In the past year, the industry has gained 4.1%. Looking forward, 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
Fri, 26 Jun 2026US$2.8tUS$758.9bUS$113.3b40x24.3x3.6x
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
Price to Earnings Ratio

24.4x


Total Market Cap: US$1.6tTotal Earnings: US$64.3bTotal Revenue: US$419.2bTotal 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 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 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-2.47%
Financials-0.26%
Capital Markets-4.18%
Diversified Capital Markets6.87%
Investment Banking and Brokerage-2.89%
Financial Exchanges and Data-3.90%
Asset Management-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 38.0x.
    • Analysts are expecting annual earnings growth of 11.1%, 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 17% over the next 5 years.
  • However this is lower than its past earnings growth rate of 60% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 8.7% 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
BNY Bank of New York MellonUS$145.431.3%
+US$1.2b		61.5%PE17.5x
NTRS Northern TrustUS$175.972.2%
+US$714.3m		43.1%PE18x
STT State StreetUS$169.510.7%
+US$332.1m		60.9%PE16.6x
XP XPUS$15.783.1%
+US$246.6m		-18.5%PE8x
FUTU Futu HoldingsUS$98.121.5%
+US$207.5m		-20.4%PE10.7x

Latest News

STT
US$169.51
State Street
7D
0.7%
1Y
60.9%
BNY
US$145.43
Bank of New York Mellon
7D
1.3%
1Y
61.5%
CCXI
US$12.44
Churchill Capital Corp XI
7D
20.7%
1Y
n/a
Seeking Alpha • 5h

Agility Robotics: The First Listed U.S. Pure-Play Humanoid Company

Summary Agility Robotics merging with CCXI will be the first pure-play US-listed robotics company, targeting warehouse automation and labor shortages. I rate AGLT a speculative 'buy' for a long-term horizon, citing enormous upside potential and a rapidly expanding addressable market driven by robotics adoption. AGLT's business model includes Robotics-as-a-Service and direct sales, with future margin expansion expected from asset-light operations and scaling production. Risks include high cash burn, potential dilution, and uncertain competitive positioning, making AGLT a high-risk, high-reward investment suitable for small portfolio allocations. Read the full article on Seeking Alpha
SPGI
US$395.14
S&P Global
7D
-3.8%
1Y
-23.3%
BX
US$114.18
Blackstone
7D
-7.8%
1Y
-22.9%
ICE
US$124.49
Intercontinental Exchange
7D
-7.0%
1Y
-31.1%
COIN
US$142.52
Coinbase Global
7D
-12.7%
1Y
-62.0%
CME
US$225.00
CME Group
7D
-8.7%
1Y
-17.5%
Narrative Update • Jun 24

CME: Crypto Perpetual Futures Dispute Will Shape Future Earnings Power

The analyst price target for CME Group has shifted slightly lower, with fair value moving from about $306.47 to $302.60 as analysts weigh ongoing concerns around perpetual futures and potential multiple compression against views that recent share weakness and structural demand drivers still support an attractive long term setup. Analyst Commentary Recent research on CME Group shows a split between bullish analysts who see the recent pullback and product portfolio as supportive for long term value, and more cautious voices focused on competitive threats from perpetual futures and the potential impact on valuation multiples.
GS
US$1,065.09
Goldman Sachs Group
7D
-2.9%
1Y
55.0%
NTRS
US$175.97
Northern Trust
7D
2.2%
1Y
43.1%
BLK
US$971.92
BlackRock
7D
-7.4%
1Y
-5.7%
XP
US$15.78
XP
7D
3.1%
1Y
-18.5%
Narrative Update • Jun 22

XP: Buybacks And Capital Returns Will Drive Future Upside

Analysts have trimmed their price target on XP to $25 from $28, reflecting updated views on fair value that balance slightly higher revenue growth assumptions with modestly lower profit margin expectations and an essentially unchanged future P/E outlook. Analyst Commentary Recent Street research on XP highlights a mixed but generally constructive tone, with the latest price target move to US$25 aligning updated expectations on growth and profitability with an unchanged P/E framework.
FUTU
US$98.12
Futu Holdings
7D
1.5%
1Y
-20.4%
Analysis Article • Jun 17

Futu Holdings (FUTU) Stock Could Be 58.2% Undervalued After Regulatory Investigation

Pomerantz LLP is investigating Futu Holdings (NasdaqGM:FUTU) after a Reuters report that Chinese regulators may penalize the broker for soliciting clients without an onshore license, bringing regulatory risk into focus. See our latest analysis for Futu Holdings. The investigation comes after a difficult period for Futu Holdings, with the share price down 46.2% year to date and 33.6% over 90 days. However, the three year total shareholder return is 152.7%, suggesting long term holders have...
CNS
US$76.49
Cohen & Steers
7D
2.2%
1Y
-0.9%
HOOD
US$93.47
Robinhood Markets
7D
-13.6%
1Y
10.6%
Seeking Alpha • Jun 17

Robinhood: It Is Rightsizing Not Downsizing, Which Is Directionally Good

Summary Robinhood (HOOD) announced a 10% workforce reduction, interpreted as rightsizing after recent M&A, aiming to optimize OPEX and reaccelerate growth. I view the layoff as a strategic move to restore a flatter, faster operating model, improving decision speed and talent density across HOOD’s expanding product suite. Recent headcount growth stemmed largely from acquisitions; this cut targets overlap, modestly improving margins but not fundamentally altering HOOD’s rich valuation. I rate HOOD as Hold: the layoff supports the current price, but valuation remains demanding and execution, crypto cyclicality, and compliance risks persist. Read the full article on Seeking Alpha
CNCK
US$2.19
Coincheck Group
7D
13.5%
1Y
-56.5%
New Narrative • Jun 16

Coincheck Stock Will Face Regulatory Delays And Weak Volumes Before Partnerships Eventually Matter

Catalysts About Coincheck Group Coincheck Group operates a crypto financial services platform centered on a retail exchange in Japan and an institutional asset management and staking business through 3iQ. What are the underlying business or industry changes driving this perspective?