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

U.S. Capital Markets Industry Analysis

UpdatedJul 18, 2026
DataAggregated Company Financials
Companies442
  • 7D0.3%
  • 3M4.3%
  • 1Y1.3%
  • YTD0.1%

Over the last 7 days, the Capital Markets industry has remained flat, although notably S&P Global gained 4.7%. Furthermore, the industry has been flat for the past year as well. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 18 Jul 2026US$2.9tUS$770.6bUS$118.5b39.6x24.3x3.7x
Mon, 15 Jun 2026US$2.8tUS$759.1bUS$113.3b39.9x24.4x3.6x
Wed, 13 May 2026US$2.7tUS$757.0bUS$113.8b41.6x23.8x3.6x
Fri, 10 Apr 2026US$2.6tUS$736.4bUS$106.8b39.4x24.1x3.5x
Sun, 08 Mar 2026US$2.5tUS$731.6bUS$106.9b21.8x23.5x3.4x
Tue, 03 Feb 2026US$2.8tUS$668.5bUS$107.1b23.8x26.4x4.2x
Thu, 01 Jan 2026US$2.8tUS$656.5bUS$105.5b24.9x26.6x4.3x
Sat, 29 Nov 2025US$2.7tUS$656.1bUS$105.4b23.9x25.7x4.1x
Mon, 27 Oct 2025US$2.7tUS$645.7bUS$104.8b26.6x26.2x4.3x
Wed, 24 Sep 2025US$2.8tUS$875.3bUS$101.0b27.2x28x3.2x
Fri, 22 Aug 2025US$2.7tUS$866.3bUS$101.0b26x26.8x3.1x
Sun, 20 Jul 2025US$2.5tUS$596.6bUS$99.2b28.9x25.2x4.2x
Tue, 17 Jun 2025US$2.4tUS$590.7bUS$97.1b26.9x24.6x4x
Thu, 15 May 2025US$2.4tUS$593.1bUS$97.0b27.6x25.1x4.1x
Sat, 12 Apr 2025US$2.0tUS$557.3bUS$95.4b23.8x21.3x3.6x
Mon, 10 Mar 2025US$2.3tUS$557.4bUS$94.7b21x23.9x4.1x
Wed, 05 Feb 2025US$2.5tUS$540.7bUS$91.4b23x27.6x4.7x
Fri, 03 Jan 2025US$2.4tUS$526.1bUS$81.6b23.1x28.9x4.5x
Sun, 01 Dec 2024US$2.5tUS$524.3bUS$81.7b24x30.7x4.8x
Tue, 29 Oct 2024US$2.3tUS$503.7bUS$81.1b23.3x27.7x4.5x
Thu, 26 Sep 2024US$2.1tUS$491.5bUS$77.8b21.2x27.3x4.3x
Sat, 24 Aug 2024US$2.0tUS$492.3bUS$78.0b20.3x25.9x4.1x
Mon, 22 Jul 2024US$2.0tUS$473.2bUS$76.5b20.2x25.9x4.2x
Wed, 19 Jun 2024US$1.9tUS$467.2bUS$73.2b20.7x25.9x4.1x
Fri, 17 May 2024US$2.0tUS$466.8bUS$73.2b22.3x27x4.2x
Sun, 14 Apr 2024US$1.9tUS$441.7bUS$67.7b19.9x27.7x4.2x
Tue, 12 Mar 2024US$1.8tUS$440.4bUS$67.3b19.3x27.4x4.2x
Thu, 08 Feb 2024US$1.8tUS$433.8bUS$64.7b20.1x27.1x4x
Sat, 06 Jan 2024US$1.8tUS$435.2bUS$70.5b27.1x25.9x4.2x
Mon, 04 Dec 2023US$1.7tUS$432.8bUS$70.6b27x24.4x4x
Wed, 01 Nov 2023US$1.5tUS$428.7bUS$67.5b27.1x22.1x3.5x
Fri, 29 Sep 2023US$1.6tUS$426.0bUS$67.9b28.1x23.4x3.7x
Sun, 27 Aug 2023US$1.6tUS$426.4bUS$68.1b28.2x23.5x3.8x
Tue, 25 Jul 2023US$1.7tUS$422.9bUS$62.9b30.5x27x4x
Price to Earnings Ratio

27x


Total Market Cap: US$1.7tTotal Earnings: US$62.9bTotal Revenue: US$422.9bTotal 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 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 24% 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-2.02%
Financials0.85%
Capital Markets0.32%
Financial Exchanges and Data3.16%
Asset Management2.37%
Diversified Capital Markets-1.07%
Investment Banking and Brokerage-2.32%
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 37.5x.
    • Analysts are expecting annual earnings growth of 10.4%, 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 Diversified Capital Markets industry, expecting annual earnings growth of 93% over the next 5 years.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 7.9% 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
SPGI S&P GlobalUS$450.844.7%
+US$6.0b		-14.0%PE27.9x
BLK BlackRockUS$1.07k3.5%
+US$5.6b		-2.8%PE25.3x
MCO Moody'sUS$510.864.8%
+US$4.1b		2.2%PE35.8x
KKR KKRUS$100.944.1%
+US$3.6b		-30.9%PE32.3x
GS Goldman Sachs GroupUS$1.07k1.0%
+US$3.1b		50.4%PE16.3x

Latest News

HOOD
US$99.96
Robinhood Markets
7D
-10.7%
1Y
-8.9%
Seeking Alpha • 8h

Robinhood: The Bullish Case Isn't Over Yet

Summary Robinhood remains a Buy as fundamentals strengthen, with robust revenue growth and market share in the high-growth fintech space. HOOD trades at a 46x forward P/E and 2.65 PEG, justified by 42% revenue growth and premium margins versus sector peers. The company boasts a low-leverage capital structure, $19.27B in cash against $13.61B obligations, and sector-leading 92% gross and 41% net margins. Risks include premium valuation, high beta volatility, potential margin erosion from competitors, and sensitivity to market sentiment shifts. Read the full article on Seeking Alpha
GLXY
US$21.63
Galaxy Digital
7D
-13.1%
1Y
-20.3%
ICE
US$139.65
Intercontinental Exchange
7D
3.2%
1Y
-22.7%
MS
US$215.50
Morgan Stanley
7D
-3.1%
1Y
53.0%
VIRT
US$55.71
Virtu Financial
7D
-15.3%
1Y
25.7%
KKR
US$100.94
KKR
7D
4.1%
1Y
-30.9%
SPGI
US$450.84
S&P Global
7D
4.7%
1Y
-14.0%
GS
US$1,065.22
Goldman Sachs Group
7D
1.0%
1Y
50.4%
Narrative Update • Jul 17

GS: AI Deal Boom Will Eventually Fail To Justify Rich Earnings Multiple

Analysts have lifted their price target on Goldman Sachs Group to $801.67 from $780.03, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E that together point to a modestly higher valuation anchor for the stock. What’s in the News for Goldman Sachs Group Goldman Sachs reported record Q2 2026 results, with adjusted EPS of US$20.98 and revenue of US$20.34b, supported by broad-based strength in Global Banking & Markets, investment banking, trading, and asset and wealth management, according to the official earnings release.
BNY
US$157.13
Bank of New York Mellon
7D
3.4%
1Y
59.0%
BX
US$126.91
Blackstone
7D
3.1%
1Y
-24.8%
MCO
US$510.86
Moody's
7D
4.8%
1Y
2.2%
Seeking Alpha • Jul 16

Moody's Earnings Preview: Valuation Once Again Limits The Upside

Summary Moody's Corporation (MCO) is a high-quality business with strong growth prospects, but after a recent 15% rally, I now rate it 'Hold' due to valuation concerns. MCO delivered solid Q1/26 results: 8.1% revenue growth, 7.8% EPS growth, and 25.6% free cash flow growth, with both Analytics and Investor Services segments performing well. Management guides for high-single-digit revenue growth and 9–14% EPS growth in 2026, supported by $5 trillion in upcoming debt refinancing and robust M&A activity. Despite a wide moat and double-digit growth potential, MCO trades at 35.6x earnings and appears slightly overvalued, warranting a more cautious stance ahead of Q2 earnings. Read the full article on Seeking Alpha
BLK
US$1,072.20
BlackRock
7D
3.5%
1Y
-2.8%
Narrative Update • Jul 16

BLK: Digital Asset Tokenization And ETF Scale Will Support Multiple Re Rating

BlackRock's analyst fair value estimate has edged up by about $22 to $1,273.69. Analysts point to stronger modeled revenue growth, higher profit margins, and updated long term P/E and discount rate assumptions following a series of higher Street price targets after the Q2 earnings beat.
IBKR
US$90.53
Interactive Brokers Group
7D
-3.8%
1Y
41.3%
Seeking Alpha • Jul 15

Interactive Brokers: Resilient Revenue Growth And Expanding Profits Make A Compelling Buy

Summary Interactive Brokers Group is upgraded to a buy rating, driven by robust growth in net interest income and commissions. IBKR's net interest income rose 17% YoY to $904 million in Q1, outperforming despite rate cuts, with client accounts up 34%. Commission revenue reached a record $613 million, fueled by a 25% increase in stock trading and a 53% YoY rise in daily average revenue trades. IBKR's capital-light, highly automated model delivers industry-leading pretax margins above 75%, justifying its premium valuation amid continued double-digit growth. Read the full article on Seeking Alpha
FRHC
US$152.69
Freedom Holding
7D
-8.1%
1Y
-14.6%
SCHW
US$101.56
Charles Schwab
7D
-1.5%
1Y
6.0%
SNEX
US$102.99
StoneX Group
7D
-12.5%
1Y
65.0%