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U.S. Capital Markets Industry Analysis

UpdatedAug 28, 2025
DataAggregated Company Financials
Companies341
  • 7D1.7%
  • 3M14.1%
  • 1Y33.9%
  • YTD15.3%

Goldman Sachs Group is up 3.8%, leading the way for the Capital Markets industry, which has gained 1.9%. This means that the industry has gained 34% over the past year. Earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 28 Aug 2025US$2.8tUS$866.9bUS$100.7b27.1x27.4x3.2x
Sat, 26 Jul 2025US$2.8tUS$597.8bUS$99.4b28.9x27.8x4.6x
Mon, 23 Jun 2025US$2.4tUS$590.6bUS$97.1b26.9x24.7x4.1x
Wed, 21 May 2025US$2.4tUS$590.1bUS$96.1b28.1x25.4x4.1x
Fri, 18 Apr 2025US$2.1tUS$562.6bUS$96.4b23.1x21.5x3.7x
Sun, 16 Mar 2025US$2.2tUS$557.5bUS$94.9b23x23.2x3.9x
Tue, 11 Feb 2025US$2.5tUS$551.7bUS$91.9b22.4x27.5x4.6x
Thu, 09 Jan 2025US$2.4tUS$526.1bUS$81.6b23.3x28.8x4.5x
Sat, 07 Dec 2024US$2.5tUS$524.3bUS$81.6b24.4x30.5x4.7x
Mon, 04 Nov 2024US$2.2tUS$506.7bUS$81.6b23.1x27.3x4.4x
Wed, 02 Oct 2024US$2.1tUS$492.0bUS$77.9b21.7x27.3x4.3x
Fri, 30 Aug 2024US$2.0tUS$492.1bUS$78.0b20.4x26.2x4.2x
Sun, 28 Jul 2024US$2.0tUS$476.4bUS$77.1b21.1x26.4x4.3x
Tue, 25 Jun 2024US$1.9tUS$467.2bUS$73.2b21.4x26x4.1x
Thu, 23 May 2024US$2.0tUS$466.9bUS$73.2b22.7x27.1x4.2x
Sat, 20 Apr 2024US$1.8tUS$446.1bUS$69.4b19.1x26.3x4.1x
Mon, 18 Mar 2024US$1.8tUS$440.4bUS$67.2b19.4x27.5x4.2x
Wed, 14 Feb 2024US$1.8tUS$439.0bUS$65.6b18.9x26.9x4x
Fri, 12 Jan 2024US$1.8tUS$432.7bUS$70.6b27.1x25.8x4.2x
Sun, 10 Dec 2023US$1.6tUS$432.8bUS$70.6b27.1x22.7x3.7x
Tue, 07 Nov 2023US$1.6tUS$429.1bUS$68.9b27x23x3.7x
Thu, 05 Oct 2023US$1.6tUS$425.5bUS$68.0b28.1x23.2x3.7x
Sat, 02 Sep 2023US$1.7tUS$430.8bUS$72.2b28.2x23.5x3.9x
Mon, 31 Jul 2023US$1.7tUS$424.0bUS$62.8b31.1x26.7x4x
Wed, 28 Jun 2023US$1.5tUS$419.5bUS$64.4b31.3x23.9x3.7x
Fri, 26 May 2023US$1.5tUS$419.4bUS$64.4b32.2x23x3.5x
Sun, 23 Apr 2023US$1.6tUS$419.8bUS$65.6b27.8x24.1x3.8x
Tue, 21 Mar 2023US$1.5tUS$424.1bUS$69.2b28.7x22.1x3.6x
Thu, 16 Feb 2023US$1.8tUS$427.5bUS$71.8b28.2x24.5x4.1x
Sat, 14 Jan 2023US$1.7tUS$442.6bUS$85.0b27.4x20.2x3.9x
Mon, 12 Dec 2022US$1.6tUS$443.4bUS$85.8b27.2x19.2x3.7x
Wed, 09 Nov 2022US$1.6tUS$440.4bUS$87.0b24.9x18.8x3.7x
Fri, 07 Oct 2022US$1.6tUS$454.4bUS$96.3b25.1x16.1x3.4x
Sun, 04 Sep 2022US$1.6tUS$454.8bUS$96.5b25.1x16.7x3.6x
Price to Earnings Ratio

16.7x


Total Market Cap: US$1.6tTotal Earnings: US$96.5bTotal Revenue: US$454.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Capital Markets Industry Price to Earnings3Y Average 24.5x202320242025
Current Industry PE
  • Investors are optimistic on the American Capital Markets industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 27.1x which is higher than its 3-year average PE of 24.5x.
  • The 3-year average PS ratio of 4.0x is higher than the industry's current PS ratio of 3.2x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 24% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

Which industries have driven the changes within the U.S. Financials industry?

US Market1.88%
Financials2.10%
Capital Markets1.70%
Investment Banking and Brokerage2.45%
Asset Management2.40%
Financial Exchanges and Data-0.40%
Diversified Capital Markets-3.46%
Industry PE
  • Investors are most optimistic about the Financial Exchanges and Data industry, which is trading close to its 3-year average PE ratio of 39.8x.
    • Analysts are expecting annual earnings growth of 7.6%, which is lower than the prior year's growth of 14.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Capital Markets industry, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings decline of 49% per year.
  • In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 7.6% 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$149.383.7%
+US$8.5b		45.6%PE16.9x
GS Goldman Sachs GroupUS$749.674.0%
+US$8.4b		48.9%PE14.7x
BX BlackstoneUS$171.644.4%
+US$5.6b		22.5%PE46.9x
BK Bank of New York MellonUS$105.033.7%
+US$2.7b		56.8%PE15.5x
SCHW Charles SchwabUS$96.871.4%
+US$2.5b		51.4%PE25.9x

Latest News

CME
US$270.12
CME Group
7D
-1.2%
1Y
26.2%
IBKR
US$61.79
Interactive Brokers Group
7D
-1.1%
1Y
94.5%

Global Portfolio Expansion And Product Innovations Set To Boost Revenue Streams

Analysts raised Interactive Brokers Group’s price target to $66.22, citing strong post-Q2 demand, expanding crypto initiatives, and the company’s technology-driven structural advantages supporting robust long-term growth potential. Analyst Commentary Bullish analysts note robust demand across Interactive Brokers' product offerings and asset classes following the Q2 report.
CBOE
US$237.95
Cboe Global Markets
7D
-5.5%
1Y
13.8%

Electronic Trading Expansion Will Open New Global Markets

Driven by record Q2 revenue growth and a positive earnings surprise, analysts modestly increased Cboe Global Markets’ consensus price target from $246.93 to $249.57, while maintaining some caution due to sector preferences and macroeconomic factors. Analyst Commentary Record Q2 net revenue results, with top and bottom line both growing 14% year-over-year, signaling strong operational performance.
TW
US$126.08
Tradeweb Markets
7D
-3.3%
1Y
8.3%
SCHW
US$96.87
Charles Schwab
7D
1.4%
1Y
51.4%
KKR
US$140.69
KKR
7D
1.9%
1Y
15.7%
COIN
US$308.48
Coinbase Global
7D
2.7%
1Y
63.8%
FDS
US$380.22
FactSet Research Systems
7D
-1.9%
1Y
-8.0%
GS
US$749.67
Goldman Sachs Group
7D
4.0%
1Y
48.9%
FUTU
US$189.95
Futu Holdings
7D
5.3%
1Y
214.5%

Global Expansion And Digital Finance Will Shape Future Trends

Driven by significantly better-than-expected Q2 results, strong customer and asset growth, and favorable regulatory developments in Hong Kong and China, analysts have raised Futu Holdings’ consensus price target from $162.88 to $182.62. Analyst Commentary Strong Q2 performance, with results well ahead of expectations, driven by robust growth in new customer acquisitions and assets under management.
BX
US$171.64
Blackstone
7D
4.4%
1Y
22.5%
HOOD
US$102.92
Robinhood Markets
7D
-2.3%
1Y
406.5%
SPGI
US$549.87
S&P Global
7D
-0.5%
1Y
8.2%
ICE
US$177.30
Intercontinental Exchange
7D
-1.1%
1Y
10.7%
BK
US$105.03
Bank of New York Mellon
7D
3.7%
1Y
56.8%
MS
US$149.38
Morgan Stanley
7D
3.7%
1Y
45.6%