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U.S. Capital Markets Industry Analysis

UpdatedSep 28, 2025
DataAggregated Company Financials
Companies344
  • 7D-2.0%
  • 3M5.8%
  • 1Y28.8%
  • YTD15.5%

Over the last 7 days, the Capital Markets industry has dropped 2.0%, driven by a pullback from KKR of 10%. This takes the industry's 12 month performance to a gain of 29%. Earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 28 Sep 2025US$2.8tUS$874.9bUS$100.9b27.2x27.6x3.2x
Tue, 26 Aug 2025US$2.7tUS$866.4bUS$101.0b27x27.2x3.2x
Thu, 24 Jul 2025US$2.7tUS$596.7bUS$99.0b29.3x27.3x4.5x
Sat, 21 Jun 2025US$2.4tUS$590.7bUS$97.1b26.7x24.6x4.1x
Mon, 19 May 2025US$2.4tUS$589.9bUS$96.0b28x25.3x4.1x
Wed, 16 Apr 2025US$2.1tUS$561.4bUS$97.0b24.2x21.7x3.7x
Fri, 14 Mar 2025US$2.2tUS$557.6bUS$94.9b21.8x22.9x3.9x
Sun, 09 Feb 2025US$2.5tUS$551.8bUS$91.9b22.2x27.5x4.6x
Tue, 07 Jan 2025US$2.4tUS$526.1bUS$81.6b23.2x29.3x4.5x
Thu, 05 Dec 2024US$2.5tUS$524.3bUS$81.7b24x30.4x4.7x
Sat, 02 Nov 2024US$2.2tUS$506.4bUS$81.6b23.1x27.4x4.4x
Mon, 30 Sep 2024US$2.1tUS$492.5bUS$77.4b21.6x27.5x4.3x
Wed, 28 Aug 2024US$2.1tUS$492.2bUS$78.0b20.4x26.3x4.2x
Fri, 26 Jul 2024US$2.0tUS$475.1bUS$77.1b20.4x25.8x4.2x
Sun, 23 Jun 2024US$1.9tUS$467.1bUS$73.2b21.2x26x4.1x
Tue, 21 May 2024US$2.0tUS$466.8bUS$73.2b22.3x27x4.2x
Thu, 18 Apr 2024US$1.8tUS$443.8bUS$68.7b19.5x26.6x4.1x
Sat, 16 Mar 2024US$1.8tUS$440.4bUS$67.2b19.4x27.5x4.2x
Mon, 12 Feb 2024US$1.8tUS$438.3bUS$65.5b19.3x27.3x4.1x
Wed, 10 Jan 2024US$1.8tUS$432.7bUS$70.6b27.1x25.8x4.2x
Fri, 08 Dec 2023US$1.7tUS$432.8bUS$70.6b27.1x24.1x3.9x
Sun, 05 Nov 2023US$1.6tUS$430.1bUS$70.1b27.1x22.6x3.7x
Tue, 03 Oct 2023US$1.6tUS$425.5bUS$68.1b28.2x23.3x3.7x
Thu, 31 Aug 2023US$1.7tUS$430.9bUS$72.2b27.9x23.4x3.9x
Sat, 29 Jul 2023US$1.7tUS$424.0bUS$62.5b31.6x26.7x3.9x
Mon, 26 Jun 2023US$1.5tUS$419.6bUS$64.4b31.4x23.7x3.6x
Wed, 24 May 2023US$1.5tUS$419.4bUS$64.5b31.1x23.3x3.6x
Fri, 21 Apr 2023US$1.6tUS$423.6bUS$66.8b27.8x23.8x3.7x
Sun, 19 Mar 2023US$1.5tUS$424.1bUS$69.1b28.7x22.1x3.6x
Tue, 14 Feb 2023US$1.8tUS$427.4bUS$72.0b28.1x24.4x4.1x
Thu, 12 Jan 2023US$1.7tUS$443.4bUS$85.7b27.7x19.8x3.8x
Sat, 10 Dec 2022US$1.6tUS$443.4bUS$85.8b27.2x19.2x3.7x
Mon, 07 Nov 2022US$1.6tUS$440.4bUS$87.0b24.9x18.8x3.7x
Wed, 05 Oct 2022US$1.6tUS$454.4bUS$96.3b25.1x16.3x3.5x
Price to Earnings Ratio

16.3x


Total Market Cap: US$1.6tTotal 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 24.8x202320242025
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 27.6x which is higher than its 3-year average PE of 24.8x.
  • 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 Market-0.58%
Financials-0.86%
Capital Markets-1.95%
Investment Banking and Brokerage-0.13%
Financial Exchanges and Data-2.00%
Asset Management-3.89%
Diversified Capital Markets-6.52%
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 8.3%, 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 8.3% 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
CME CME GroupUS$270.283.3%
+US$3.2b		23.8%PE26.2x
BLK BlackRockUS$1.16k1.2%
+US$2.1b		22.3%PE28x
SCHW Charles SchwabUS$95.461.2%
+US$2.1b		48.2%PE25.5x
CBOE Cboe Global MarketsUS$243.524.5%
+US$1.1b		20.2%PE28.4x
AMP Ameriprise FinancialUS$499.292.0%
+US$921.0m		6.5%PE14.6x

Latest News

BX
US$175.32
Blackstone
7D
-6.6%
1Y
13.2%
BLK
US$1,156.45
BlackRock
7D
1.2%
1Y
22.3%
BK
US$109.53
Bank of New York Mellon
7D
0.8%
1Y
52.8%

Digital Transformation And ESG Will Open Future Markets

The slight upward revision in Bank of New York Mellon’s Analyst Price Target primarily reflects a modest increase in consensus revenue growth expectations, raising the fair value estimate from $102.27 to $104.82. What's in the News BNY Mellon eliminated its Series G Noncumulative Perpetual Preferred Stock following the full redemption of outstanding shares and an amendment to its Certificate of Incorporation.
BULL
US$15.16
Webull
7D
14.1%
1Y
33.7%

Canada, Europe And Crypto Trading Will Expand Future Markets

Webull’s consensus price target has increased to $18.50, primarily driven by stronger revenue growth expectations and a modest compression in its future P/E ratio. What's in the News Webull added to S&P Global BMI Index.
HOOD
US$121.78
Robinhood Markets
7D
-2.4%
1Y
409.8%

Regulatory Delays Will Undercut Tokenized Asset Momentum

Analysts have raised Robinhood’s price target to $118.80, citing rapid product innovation, robust trading activity, international expansion—especially in Europe—and improving financial performance across equities and crypto as key growth drivers. Analyst Commentary Bullish analysts cite accelerated product velocity with rapid rollout of key features, including short selling, expanded AI tools, a new social trading platform, and futures trading, which are expected to drive user engagement and expand total addressable market.
STT
US$115.71
State Street
7D
1.9%
1Y
31.2%

Global Wealth And Passive Investing Will Strengthen Future Asset Servicing

Analysts have raised State Street’s price target to $117.50, citing continued organic fee growth, strong operating leverage, asset-driven revenue momentum, and sector tailwinds from rising markets and interest rates. Analyst Commentary Bullish analysts highlight State Street’s ability to drive organic fee growth while maintaining expense discipline, creating positive operating leverage.
KKR
US$134.01
KKR
7D
-10.0%
1Y
1.4%
CBOE
US$243.52
Cboe Global Markets
7D
4.5%
1Y
20.2%
NDAQ
US$87.51
Nasdaq
7D
-2.3%
1Y
20.5%
CG
US$63.99
Carlyle Group
7D
-6.1%
1Y
46.8%
COIN
US$312.59
Coinbase Global
7D
-8.7%
1Y
63.5%

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.
SPGI
US$487.18
S&P Global
7D
-3.9%
1Y
-5.0%
SCHW
US$95.46
Charles Schwab
7D
1.2%
1Y
48.2%

Digital Transformation And Generational Wealth Will Drive Long-Term Success

The consensus analyst price target for Charles Schwab saw a slight increase to $108.37, as bullish analysts cited strong net new asset growth and sustained trading volumes supported by a favorable rate environment, while bearish sentiment persists on concerns about future Fed rate cuts impacting earnings. Analyst Commentary Bullish analysts cite a significant acceleration in net new asset growth, with seasonally adjusted growth nearly 6%—the strongest in over two years.
CME
US$270.28
CME Group
7D
3.3%
1Y
23.8%
ARES
US$163.05
Ares Management
7D
-10.9%
1Y
3.9%
AMP
US$499.29
Ameriprise Financial
7D
2.0%
1Y
6.5%