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U.S. Capital Markets Industry Analysis

UpdatedJul 08, 2026
DataAggregated Company Financials
Companies435
  • 7D6.4%
  • 3M9.0%
  • 1Y4.9%
  • YTD-0.5%

Over the last 7 days, the Capital Markets industry has risen 7.2%, driven by gains from Morgan Stanley of 6.2%. In the same time, Galaxy Digital was down 9.5%. This means that the industry has gained 4.6% over the past year. 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
Wed, 08 Jul 2026US$2.8tUS$756.8bUS$112.4b40.6x25.1x3.7x
Fri, 05 Jun 2026US$2.7tUS$759.0bUS$113.5b39.1x23.4x3.5x
Sun, 03 May 2026US$2.7tUS$749.0bUS$113.1b42.2x23.7x3.6x
Tue, 31 Mar 2026US$2.4tUS$736.6bUS$106.9b33x22.4x3.2x
Thu, 26 Feb 2026US$2.6tUS$734.8bUS$106.6b23x24.1x3.5x
Sat, 24 Jan 2026US$2.9tUS$663.0bUS$106.5b24.8x27.2x4.4x
Mon, 22 Dec 2025US$2.8tUS$656.4bUS$105.5b25.1x26.4x4.2x
Wed, 19 Nov 2025US$2.6tUS$654.2bUS$105.8b23.7x24.4x4x
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
Price to Earnings Ratio

25.2x


Total Market Cap: US$1.6tTotal Earnings: US$64.4bTotal Revenue: US$421.2bTotal 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 20% 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-0.65%
Financials3.89%
Capital Markets6.41%
Financial Exchanges and Data9.26%
Investment Banking and Brokerage6.72%
Asset Management4.39%
Diversified Capital Markets-4.71%
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 37.7x.
    • Analysts are expecting annual earnings growth of 11.9%, 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 18% over the next 5 years.
  • However this is lower than its past earnings growth rate of 57% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 9.0% 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
MS Morgan StanleyUS$222.046.2%
+US$20.5b		57.3%PE20x
SCHW Charles SchwabUS$101.9310.5%
+US$16.8b		10.9%PE19.7x
HOOD Robinhood MarketsUS$112.9012.6%
+US$11.4b		23.7%PE53.6x
SPGI S&P GlobalUS$443.468.9%
+US$10.7b		-15.8%PE27.5x
GS Goldman Sachs GroupUS$1.04k3.1%
+US$9.7b		49.6%PE18.7x

Latest News

SPGI
US$443.46
S&P Global
7D
8.9%
1Y
-15.8%
BLK
US$1,009.43
BlackRock
7D
5.0%
1Y
-6.1%
SVAC
US$8.25
Spring Valley Acquisition III
7D
-19.6%
1Y
n/a
MS
US$222.04
Morgan Stanley
7D
6.2%
1Y
57.3%
XP
US$15.97
XP
7D
-1.8%
1Y
-17.4%
Narrative Update • Jul 06

XP: Buybacks And 2026 Execution Will Drive Future Upside Potential

XP Inc. enters this Narrative Update with a reduced analyst price target of $25 from $28, as analysts factor in slightly lower fair value estimates and updated assumptions around growth, profitability, and P/E expectations.
GLXY
US$24.73
Galaxy Digital
7D
-9.5%
1Y
27.1%
Narrative Update • Jul 06

GLXY: Helios Data Center Expansion Will Drive Future High Performance Computing Upside

Analysts have adjusted their fair value estimate for Galaxy Digital from $60.00 to $57.00, reflecting updated views on discount rates, revenue growth, profit margins, and future P/E assumptions following a combination of recent price target increases and cuts across the Street. Analyst Commentary Recent Street research on Galaxy Digital has centered on how short term sentiment swings are intersecting with the stock's valuation, execution against growth initiatives, and exposure to high performance computing and digital infrastructure trends.
GS
US$1,042.98
Goldman Sachs Group
7D
3.1%
1Y
49.6%
Seeking Alpha • Jul 04

Goldman Sachs: It's That Time Of Year Again, My Thoughts Into Earnings

Summary Goldman Sachs (GS) remains a buy, supported by robust deal activity, high market volatility, and strong capital markets performance. GS benefits from leading high-profile IPOs like SpaceX and major equity raises, reinforcing its market position and fee generation. Elevated market volatility and record options trading drive GS's intermediation and trading revenues, enhancing near-term earnings visibility. Private credit exposure is marginal for GS, and while peak earnings may be near, a balanced portfolio approach is recommended. Read the full article on Seeking Alpha
HOOD
US$112.90
Robinhood Markets
7D
12.6%
1Y
23.7%
ICE
US$136.45
Intercontinental Exchange
7D
10.8%
1Y
-24.6%
INV
US$4.57
Innventure
7D
-9.9%
1Y
-8.2%
CCXI
US$15.86
Churchill Capital Corp XI
7D
-9.1%
1Y
n/a
Seeking Alpha • Jun 25

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
SCHW
US$101.93
Charles Schwab
7D
10.5%
1Y
10.9%
TRIN
US$17.48
Trinity Capital
7D
-2.3%
1Y
23.5%
Narrative Update • Jun 23

TRIN: Capital Raising And Modest Repricing Will Shape Forward Risk Reward Balance

The analyst price target for Trinity Capital remains at $17.92 per share, with analysts pointing to recent $1 price target increases at firms covering the stock as supporting rationale for this level. Analyst Commentary Recent research on Trinity Capital highlights a modestly more constructive stance, with multiple firms moving their price targets higher by $1, which supports the current consensus target level around $17.92 per share.
MCO
US$500.49
Moody's
7D
10.5%
1Y
0.3%
Narrative Update • Jun 22

MCO: Proprietary Ratings Data And AI Partnerships Will Support Durable Upside

The analyst price target for Moody's edges higher to $536.50 from $536.00, with analysts pointing to the resilience of the company's proprietary ratings and risk datasets in an AI driven information services market as the key support for the updated view. Analyst Commentary Recent commentary on Moody's centers on how its ratings and risk datasets might hold up as AI reshapes information services, with analysts splitting their focus between the durability of the business model and the price being paid for that resilience.
LCLN
US$22.45
Lincoln International
7D
-5.9%
1Y
n/a