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U.S. Capital Markets Industry Analysis

UpdatedOct 02, 2025
DataAggregated Company Financials
Companies346
  • 7D-1.0%
  • 3M2.4%
  • 1Y27.2%
  • YTD14.0%

Over the last 7 days, the Capital Markets industry has remained flat, although notably Robinhood Markets gained 9.7%. The past year has been better, since the industry has gained 27% in that time. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 02 Oct 2025US$2.8tUS$875.2bUS$100.9b26.3x27.7x3.2x
Sat, 30 Aug 2025US$2.8tUS$866.2bUS$101.1b26.9x27.4x3.2x
Mon, 28 Jul 2025US$2.8tUS$598.1bUS$99.5b28.4x27.9x4.6x
Wed, 25 Jun 2025US$2.5tUS$590.7bUS$97.1b27.2x25.3x4.2x
Fri, 23 May 2025US$2.4tUS$590.1bUS$96.1b28.3x24.8x4x
Sun, 20 Apr 2025US$2.1tUS$562.3bUS$97.6b23.1x21.3x3.7x
Tue, 18 Mar 2025US$2.2tUS$557.6bUS$94.9b23.2x23.2x4x
Thu, 13 Feb 2025US$2.5tUS$552.1bUS$93.3b21.8x26.8x4.5x
Sat, 11 Jan 2025US$2.4tUS$526.9bUS$81.7b22.9x29x4.5x
Mon, 09 Dec 2024US$2.5tUS$524.3bUS$81.6b24.4x30.5x4.8x
Wed, 06 Nov 2024US$2.2tUS$507.7bUS$81.1b23.6x27.3x4.4x
Fri, 04 Oct 2024US$2.1tUS$493.1bUS$78.4b20.9x27.1x4.3x
Sun, 01 Sep 2024US$2.1tUS$492.2bUS$77.9b20.6x26.6x4.2x
Tue, 30 Jul 2024US$2.0tUS$476.5bUS$77.1b21.2x26.4x4.3x
Thu, 27 Jun 2024US$1.9tUS$467.1bUS$73.2b21.3x26.2x4.1x
Sat, 25 May 2024US$1.9tUS$467.1bUS$73.2b22.6x26.2x4.1x
Mon, 22 Apr 2024US$1.8tUS$446.3bUS$69.4b19.1x26.3x4.1x
Wed, 20 Mar 2024US$1.8tUS$440.5bUS$67.2b19.4x27.5x4.2x
Fri, 16 Feb 2024US$1.8tUS$439.4bUS$66.0b19.7x27x4.1x
Sun, 14 Jan 2024US$1.8tUS$433.3bUS$70.4b27.1x25.7x4.2x
Tue, 12 Dec 2023US$1.7tUS$432.8bUS$70.6b27.1x24.6x4x
Thu, 09 Nov 2023US$1.6tUS$428.7bUS$68.8b27.4x23x3.7x
Sat, 07 Oct 2023US$1.6tUS$425.5bUS$68.0b28x23.2x3.7x
Mon, 04 Sep 2023US$1.7tUS$457.5bUS$72.6b28.2x24x3.8x
Wed, 02 Aug 2023US$1.7tUS$423.9bUS$62.8b31.1x26.7x4x
Fri, 30 Jun 2023US$1.6tUS$419.2bUS$64.3b31.1x24.3x3.7x
Sun, 28 May 2023US$1.5tUS$419.4bUS$64.5b30.9x23.3x3.6x
Tue, 25 Apr 2023US$1.6tUS$419.8bUS$65.6b27.8x23.9x3.7x
Thu, 23 Mar 2023US$1.5tUS$423.8bUS$69.2b28.8x22.3x3.6x
Sat, 18 Feb 2023US$1.7tUS$427.0bUS$71.7b27.7x24.2x4.1x
Mon, 16 Jan 2023US$1.7tUS$442.6bUS$85.0b27.4x20.2x3.9x
Wed, 14 Dec 2022US$1.7tUS$443.4bUS$85.8b27.4x19.5x3.8x
Fri, 11 Nov 2022US$1.7tUS$431.9bUS$86.2b25.5x19.9x4x
Sun, 09 Oct 2022US$1.5tUS$454.4bUS$96.3b25x15.7x3.3x
Price to Earnings Ratio

15.7x


Total Market Cap: US$1.5tTotal Earnings: US$96.3bTotal Revenue: US$454.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Capital Markets Industry Price to Earnings3Y Average 24.9x202320242025
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 27.9x which is higher than its 3-year average PE of 24.9x.
  • 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 Market0.77%
Financials-0.89%
Capital Markets-0.95%
Investment Banking and Brokerage0.70%
Diversified Capital Markets0.60%
Financial Exchanges and Data-0.18%
Asset Management-3.27%
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 40.0x.
    • Analysts are expecting annual earnings growth of 8.2%, 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 8.2% 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$139.149.7%
+US$11.0b		514.8%PE69.2x
COIN Coinbase GlobalUS$346.177.6%
+US$6.3b		110.5%PE31.1x
BLK BlackRockUS$1.14k1.2%
+US$2.0b		19.2%PE27.6x
IBKR Interactive Brokers GroupUS$68.786.7%
+US$1.9b		92.9%PE36.5x
MCO Moody'sUS$479.821.1%
+US$900.6m		2.0%PE40.4x

Latest News

SPGI
US$481.67
S&P Global
7D
-1.8%
1Y
-6.4%
KKR
US$127.47
KKR
7D
-7.6%
1Y
-3.6%
HOOD
US$139.14
Robinhood Markets
7D
9.7%
1Y
514.8%
BLK
US$1,141.07
BlackRock
7D
1.2%
1Y
19.2%
ICE
US$162.64
Intercontinental Exchange
7D
-3.2%
1Y
1.1%
IVZ
US$23.09
Invesco
7D
4.1%
1Y
29.9%
ARES
US$154.14
Ares Management
7D
-8.4%
1Y
-2.5%
IBKR
US$68.78
Interactive Brokers Group
7D
6.7%
1Y
92.9%
BX
US$168.10
Blackstone
7D
-5.6%
1Y
10.4%
MS
US$156.89
Morgan Stanley
7D
-0.6%
1Y
50.1%

Digital Platforms And Global Wealth Transfer Will Widen Advisory Reach

Morgan Stanley’s consensus analyst price target saw a modest increase to $145.90, reflecting essentially unchanged expectations for revenue growth and future P/E multiples. What's in the News E*TRADE from Morgan Stanley launched Power E*TRADE Pro, a sophisticated desktop trading platform targeting active traders, amid a 26% year-over-year increase in self-directed daily average revenue trades.
LPLA
US$317.00
LPL Financial Holdings
7D
-4.9%
1Y
37.2%

Aging Trends And Technology Investments Will Unlock Independent Advisory Opportunities

Analysts have modestly lowered their price target for LPL Financial Holdings to $442.38, as integration of Commonwealth Financial Network and near-term growth concerns temper catalysts despite strong recent earnings and supportive macro drivers. Analyst Commentary Bullish analysts see potential for multiple re-rating and upside as LPL Financial integrates Commonwealth Financial Network, with earnings dilution and asset growth slowdowns seen as already priced in.
MCO
US$479.82
Moody's
7D
1.1%
1Y
2.0%

Private Credit Evolution And AI Integration Will Shape Market Success

Moody's saw only marginal improvements in both revenue growth and net profit margin forecasts, resulting in the consensus analyst price target rising slightly from $543.40 to $545.50. What's in the News Moody's launched Agentic Solutions, an AI-powered product suite automating and optimizing complex decision-making workflows for regulated industries, enhancing productivity, transparency, and workflow efficiency across finance, risk, and strategy.
COIN
US$346.17
Coinbase Global
7D
7.6%
1Y
110.5%

Blockchain Tokenization Will Expand Markets Though Cybersecurity Risks Persist

Analysts have modestly raised Coinbase’s price target to $370.09, citing improved regulatory clarity, new product and partnership-driven growth opportunities, and cost discipline—though near-term caution remains due to moderating trading volumes and a recent earnings miss. Analyst Commentary Bullish analysts raise price targets due to improving regulatory clarity in the crypto sector, including key policy events and Circle's IPO, which unlocks value through Coinbase's USDC partnership.
CME
US$265.84
CME Group
7D
0.5%
1Y
18.9%
GS
US$785.51
Goldman Sachs Group
7D
-0.9%
1Y
59.7%