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U.S. Capital Markets Industry Analysis

UpdatedJul 02, 2026
DataAggregated Company Financials
Companies435
  • 7D0.6%
  • 3M8.9%
  • 1Y0.9%
  • YTD-4.0%

The Capital Markets is pretty flat in the last 7 days, but Robinhood Markets has stood out, gaining 12%. In line with that, the industry has also been flat over the past 12 months. 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
Thu, 02 Jul 2026US$2.7tUS$759.9bUS$113.3b40x23.4x3.5x
Sat, 30 May 2026US$2.7tUS$758.9bUS$113.4b39.5x23.7x3.5x
Mon, 27 Apr 2026US$2.7tUS$747.4bUS$111.5b42x23.8x3.5x
Wed, 25 Mar 2026US$2.5tUS$730.5bUS$106.9b29.9x23.2x3.4x
Fri, 20 Feb 2026US$2.7tUS$734.5bUS$106.5b23.4x24.9x3.6x
Sun, 18 Jan 2026US$2.9tUS$662.5bUS$106.5b25.9x27.7x4.4x
Tue, 16 Dec 2025US$2.8tUS$656.5bUS$105.5b25x26.6x4.3x
Thu, 13 Nov 2025US$2.7tUS$653.7bUS$105.8b25.4x25.8x4.2x
Sat, 11 Oct 2025US$2.8tUS$875.1bUS$101.0b24.9x27.5x3.2x
Mon, 08 Sep 2025US$2.7tUS$865.8bUS$100.6b26.5x26.9x3.1x
Wed, 06 Aug 2025US$2.7tUS$602.5bUS$101.4b26.8x27x4.5x
Fri, 04 Jul 2025US$2.6tUS$590.6bUS$97.0b28.1x26.7x4.4x
Sun, 01 Jun 2025US$2.2tUS$590.3bUS$97.3b28.1x22.7x3.7x
Tue, 29 Apr 2025US$2.2tUS$564.7bUS$96.2b24.2x22.8x3.9x
Thu, 27 Mar 2025US$2.3tUS$559.1bUS$94.9b23.7x24.6x4.2x
Sat, 22 Feb 2025US$2.4tUS$555.2bUS$95.7b20.5x25.4x4.4x
Mon, 20 Jan 2025US$2.5tUS$535.5bUS$88.0b22.8x28.1x4.6x
Wed, 18 Dec 2024US$2.5tUS$524.2bUS$81.6b23.4x30.2x4.7x
Fri, 15 Nov 2024US$2.4tUS$509.5bUS$81.7b23.5x29.7x4.8x
Sun, 13 Oct 2024US$2.2tUS$493.9bUS$78.6b22.6x27.9x4.4x
Tue, 10 Sep 2024US$2.0tUS$491.4bUS$77.8b20.7x25.8x4.1x
Thu, 08 Aug 2024US$1.9tUS$491.2bUS$77.8b20.6x24.6x3.9x
Sat, 06 Jul 2024US$1.9tUS$467.7bUS$73.1b20.8x26.4x4.1x
Mon, 03 Jun 2024US$1.9tUS$467.1bUS$73.1b21.9x26x4.1x
Wed, 01 May 2024US$1.8tUS$450.6bUS$70.6b19.8x26.1x4.1x
Fri, 29 Mar 2024US$1.9tUS$441.2bUS$67.3b19.4x28.5x4.3x
Sun, 25 Feb 2024US$1.8tUS$440.2bUS$67.5b19.1x26.9x4.1x
Tue, 23 Jan 2024US$1.8tUS$433.5bUS$68.9b27.8x26.4x4.2x
Thu, 21 Dec 2023US$1.9tUS$432.8bUS$70.6b27.8x26.2x4.3x
Sat, 18 Nov 2023US$1.6tUS$432.6bUS$70.6b27x23.1x3.8x
Mon, 16 Oct 2023US$1.6tUS$425.8bUS$68.3b27.8x22.8x3.7x
Wed, 13 Sep 2023US$1.7tUS$426.4bUS$68.1b28.2x24.3x3.9x
Fri, 11 Aug 2023US$1.7tUS$426.2bUS$68.1b30.4x24.3x3.9x
Sun, 09 Jul 2023US$1.6tUS$420.9bUS$64.3b31x24.2x3.7x
Price to Earnings Ratio

24.2x


Total Market Cap: US$1.6tTotal Earnings: US$64.3bTotal Revenue: US$420.9bTotal 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 3-year average PS ratio of 4.0x is higher than the industry's current PS ratio of 3.5x.
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 Market1.64%
Financials2.13%
Capital Markets0.63%
Diversified Capital Markets10.58%
Asset Management2.11%
Financial Exchanges and Data2.07%
Investment Banking and Brokerage-1.00%
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 37.8x.
    • Analysts are expecting annual earnings growth of 11.2%, 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 64% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 8.9% 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
HOOD Robinhood MarketsUS$108.6511.8%
+US$10.3b		10.9%PE51.6x
SCHW Charles SchwabUS$95.784.8%
+US$7.6b		4.9%PE18.5x
BX BlackstoneUS$119.555.8%
+US$5.2b		-22.1%PE30.7x
SPGI S&P GlobalUS$414.973.1%
+US$3.7b		-21.1%PE25.7x
MCO Moody'sUS$468.384.1%
+US$3.2b		-5.8%PE32.8x

Latest News

BLK
US$980.38
BlackRock
7D
-0.2%
1Y
-8.4%
SPGI
US$414.97
S&P Global
7D
3.1%
1Y
-21.1%
ICE
US$126.73
Intercontinental Exchange
7D
-2.5%
1Y
-30.3%
New Narrative • Jul 01

Energy And Rate Volatility Risks Will Challenge Derivatives Revenue Yet Long-Term Data Demand Should Endure

Catalysts About Intercontinental Exchange Intercontinental Exchange operates exchanges, clearing houses, data services and mortgage technology platforms that support trading, risk management and workflow automation across global markets. What are the underlying business or industry changes driving this perspective?
BX
US$119.55
Blackstone
7D
5.8%
1Y
-22.1%
TROW
US$116.11
T. Rowe Price Group
7D
10.4%
1Y
16.2%
BGC
US$10.87
BGC Group
7D
-14.1%
1Y
1.0%
COIN
US$159.24
Coinbase Global
7D
6.1%
1Y
-55.1%
BNY
US$146.02
Bank of New York Mellon
7D
1.7%
1Y
58.6%
GS
US$1,019.61
Goldman Sachs Group
7D
-5.3%
1Y
42.4%
GLXY
US$25.86
Galaxy Digital
7D
-9.5%
1Y
16.4%
Seeking Alpha • Jun 29

Galaxy Digital: 4 Catalysts That Could Propel The Stock Higher

Summary Galaxy Digital is mischaracterized as merely a crypto proxy, but recent innovations challenge this view. GLXY has launched institutional OTC prediction markets, targeting hedge funds and family offices with unique liquidity and discretion. I see significant growth prospects and an attractive valuation, supporting a bullish stance on GLXY. GLXY’s differentiated offerings position it ahead of retail-focused competitors like Polymarket and Kalshi. Read the full article on Seeking Alpha
HOOD
US$108.65
Robinhood Markets
7D
11.8%
1Y
10.9%
MS
US$211.86
Morgan Stanley
7D
-3.6%
1Y
48.3%
Narrative Update • Jun 29

MS: Capital Returns And Private Market Tensions Will Shape Balanced Future Returns

Analysts have lifted their price target on Morgan Stanley from about $190.33 to around $206.67, citing updated assumptions on discount rate, revenue growth, profit margin, and future P/E that adjust the valuation framework rather than a single catalyst. What's in the News Morgan Stanley capped redemptions at its North Haven Private Income Fund after investors requested withdrawals equal to 11.6% of shares outstanding in Q2, more than double the fund’s 5% quarterly limit, with only about 43% of requests to be fulfilled on a pro rata basis, according to recent reporting on private credit market stress.
JEF
US$51.30
Jefferies Financial Group
7D
-11.5%
1Y
-9.4%
SNEX
US$123.74
StoneX Group
7D
-9.1%
1Y
100.2%
SCHW
US$95.78
Charles Schwab
7D
4.8%
1Y
4.9%
MCO
US$468.38
Moody's
7D
4.1%
1Y
-5.8%
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.