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U.S. Capital Markets Industry Analysis

UpdatedJul 25, 2026
DataAggregated Company Financials
Companies438
  • 7D-0.2%
  • 3M6.0%
  • 1Y-0.3%
  • YTD0.04%

Over the last 7 days, the Capital Markets industry has dropped 2.5%, driven by declines in S&P Global and Moody's of 5.4% and 7.7%, respectively. As for the longer term, the industry's performance has been flat for the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 25 Jul 2026US$2.8tUS$776.4bUS$120.6b39.3x23.3x3.6x
Mon, 22 Jun 2026US$2.8tUS$759.0bUS$113.2b40.6x24.6x3.7x
Wed, 20 May 2026US$2.7tUS$757.7bUS$113.4b40.1x23.8x3.6x
Fri, 17 Apr 2026US$2.7tUS$743.1bUS$109.3b41.6x24.7x3.6x
Sun, 15 Mar 2026US$2.4tUS$731.9bUS$107.1b25.9x22.6x3.3x
Tue, 10 Feb 2026US$2.7tUS$735.1bUS$107.8b23.3x25.1x3.7x
Thu, 08 Jan 2026US$2.9tUS$656.6bUS$105.5b25.8x27.8x4.5x
Sat, 06 Dec 2025US$2.8tUS$656.1bUS$105.4b24.2x26.2x4.2x
Mon, 03 Nov 2025US$2.7tUS$647.7bUS$105.5b24x25.7x4.2x
Wed, 01 Oct 2025US$2.8tUS$875.2bUS$100.9b26.8x27.9x3.2x
Fri, 29 Aug 2025US$2.8tUS$866.2bUS$101.1b27.1x27.4x3.2x
Sun, 27 Jul 2025US$2.8tUS$598.1bUS$99.5b28.4x27.9x4.6x
Tue, 24 Jun 2025US$2.4tUS$590.7bUS$97.1b26.9x24.8x4.1x
Thu, 22 May 2025US$2.4tUS$590.1bUS$96.1b27.8x25.3x4.1x
Sat, 19 Apr 2025US$2.1tUS$562.3bUS$97.6b23.1x21.3x3.7x
Mon, 17 Mar 2025US$2.2tUS$557.5bUS$94.9b23x23.2x3.9x
Wed, 12 Feb 2025US$2.5tUS$552.4bUS$93.1b21.8x26.9x4.5x
Fri, 10 Jan 2025US$2.4tUS$526.9bUS$81.7b23.3x29x4.5x
Sun, 08 Dec 2024US$2.5tUS$524.3bUS$81.6b24.4x30.5x4.8x
Tue, 05 Nov 2024US$2.2tUS$507.0bUS$81.1b23.5x27.4x4.4x
Thu, 03 Oct 2024US$2.1tUS$492.0bUS$77.9b21.7x27.3x4.3x
Sat, 31 Aug 2024US$2.1tUS$492.1bUS$77.9b20.5x26.4x4.2x
Mon, 29 Jul 2024US$2.0tUS$476.4bUS$77.1b21.1x26.4x4.3x
Wed, 26 Jun 2024US$1.9tUS$467.1bUS$73.2b21.4x26.2x4.1x
Fri, 24 May 2024US$2.0tUS$500.6bUS$78.4b22.6x25.7x4x
Sun, 21 Apr 2024US$1.8tUS$446.3bUS$69.4b19.1x26.3x4.1x
Tue, 19 Mar 2024US$1.8tUS$440.5bUS$67.2b19.4x27.4x4.2x
Thu, 15 Feb 2024US$1.8tUS$439.1bUS$65.8b19.7x26.7x4x
Sat, 13 Jan 2024US$1.8tUS$433.3bUS$70.4b27.1x25.7x4.2x
Mon, 11 Dec 2023US$1.6tUS$432.8bUS$70.6b27.1x22.7x3.7x
Wed, 08 Nov 2023US$1.6tUS$429.5bUS$68.9b27x22.8x3.7x
Fri, 06 Oct 2023US$1.6tUS$425.5bUS$68.0b28.1x22.9x3.7x
Sun, 03 Sep 2023US$1.7tUS$430.8bUS$72.2b28.2x23.5x3.9x
Tue, 01 Aug 2023US$1.7tUS$424.0bUS$62.8b31.1x26.7x4x
Price to Earnings Ratio

26.7x


Total Market Cap: US$1.7tTotal Earnings: US$62.8bTotal Revenue: US$424.0bTotal 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-1.06%
Financials-0.05%
Capital Markets-0.25%
Investment Banking and Brokerage-0.064%
Asset Management-0.12%
Financial Exchanges and Data-0.89%
Diversified Capital Markets-3.17%
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 37.3x.
    • Analysts are expecting annual earnings growth of 10.2%, which is lower than the prior year's growth of 17.5% 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 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
BX BlackstoneUS$130.002.4%
+US$4.3b		-27.0%PE29.6x
CME CME GroupUS$255.314.2%
+US$3.7b		-8.7%PE21.7x
ICE Intercontinental ExchangeUS$145.794.4%
+US$3.5b		-21.0%PE21x
CBOE Cboe Global MarketsUS$285.074.3%
+US$1.2b		15.6%PE24.3x
BNY Bank of New York MellonUS$158.911.1%
+US$1.2b		57.5%PE17.9x

Latest News

BX
US$130.00
Blackstone
7D
2.4%
1Y
-27.0%
BLK
US$1,055.67
BlackRock
7D
-1.5%
1Y
-6.0%
CME
US$255.31
CME Group
7D
4.2%
1Y
-8.7%
SCHW
US$101.97
Charles Schwab
7D
0.4%
1Y
5.1%
Analysis Article • 17h

Analysts Have Made A Financial Statement On The Charles Schwab Corporation's (NYSE:SCHW) Second-Quarter Report

The Charles Schwab Corporation ( NYSE:SCHW ) investors will be delighted, with the company turning in some strong...
GS
US$1,061.23
Goldman Sachs Group
7D
-0.4%
1Y
45.6%
MSCI
US$550.79
MSCI
7D
-12.4%
1Y
0.8%
KKR
US$99.36
KKR
7D
-1.6%
1Y
-34.7%
Seeking Alpha • Jul 23

KKR Q2 Earnings Preview: Recurring Growth Is The Main Test

Summary KKR is rated a cautious Buy at ~$95.53, with a fair value estimate of ~$107, reflecting discounted expectations for realized earnings. Valuation already prices in delayed realizations and private-credit concerns but does not fully account for robust recurring earnings growth from management fees, insurance, and infrastructure. Q2's critical test is sustained growth in recurring earnings—management fees, FRE, insurance, and Strategic Holdings—rather than volatile quarterly adjusted net income from investment realizations. Risks include persistent realization delays, slowing recurring growth, and sector-specific headwinds; continued share repurchases near current levels signal management’s confidence. Read the full article on Seeking Alpha
MCO
US$471.50
Moody's
7D
-7.7%
1Y
-8.1%
Seeking Alpha • Jul 23

Wall Street Is At The Beach. Moody's Rides The Current. (Earnings Review)

Summary Moody's Corporation delivered Q2 results that exceeded both top-line and bottom-line estimates, reinforcing the resilience of its business model. MCO reaffirmed its FY26 outlook, signaling management's confidence in sustained growth and operational momentum despite recent bearish arguments. The investment thesis centers on Moody's robust earnings power, consistent execution, and ability to withstand macroeconomic headwinds. Bears' arguments are losing traction as MCO continues to post strong financials and maintain forward guidance. Read the full article on Seeking Alpha
SPGI
US$426.40
S&P Global
7D
-5.4%
1Y
-20.3%
Seeking Alpha • Jul 23

S&P Global: Strong Q2 Expected From The Crown Jewel Segments

Summary S&P Global is a leaner, higher-margin, and likely higher-growth company post-Mobility spin-off. Ratings and Indices segments are benefiting from robust issuance, record ETF inflows, and index performance, driving expected Q2 acceleration. My Q2 revenue growth estimate of 11.7% outpaces consensus. SPGI's valuation remains attractive at a 1.69x PEGY, with aggressive buybacks and potential for multiple expansion toward peer levels. Read the full article on Seeking Alpha
SNEX
US$74.26
StoneX Group
7D
8.2%
1Y
76.8%
STT
US$185.40
State Street
7D
1.6%
1Y
64.2%
MS
US$214.48
Morgan Stanley
7D
-0.5%
1Y
50.0%
BNY
US$158.91
Bank of New York Mellon
7D
1.1%
1Y
57.5%
Seeking Alpha • Jul 22

Bank of New York Mellon: Market-Related Tailwinds Continue To Drive Strong Growth

Summary Bank of New York Mellon is posting record levels of profitability, with its return on tangible equity nudging past the 30% level in Q2 2026. BNY's fee income is benefiting from strong equity markets, while last quarter provided fresh evidence that margin pressure in the core custody business has eased. BNY's interest-related income is also benefiting from a cyclically high margin. Despite stellar results, valuation matters. BNY now trades for nearly 5x tangible book value and over 17x 2026 EPS, both of which look expensive compared to historical levels. Read the full article on Seeking Alpha
HOOD
US$94.91
Robinhood Markets
7D
-5.1%
1Y
-9.5%
Seeking Alpha • Jul 18

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
ICE
US$145.79
Intercontinental Exchange
7D
4.4%
1Y
-21.0%
CBOE
US$285.07
Cboe Global Markets
7D
4.3%
1Y
15.6%