Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Capital Markets Industry Analysis

UpdatedJul 11, 2026
DataAggregated Company Financials
Companies439
  • 7D2.4%
  • 3M10.8%
  • 1Y3.6%
  • YTD-0.2%

Over the last 7 days, the Capital Markets industry has risen 2.4%, driven by gains from Morgan Stanley of 3.9%. In the last 12 months, the industry was up 3.6%. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 11 Jul 2026US$2.8tUS$756.9bUS$112.5b40.4x25x3.7x
Mon, 08 Jun 2026US$2.7tUS$759.0bUS$113.4b38.9x23.6x3.5x
Wed, 06 May 2026US$2.7tUS$749.0bUS$113.3b42.7x23.6x3.6x
Fri, 03 Apr 2026US$2.5tUS$736.3bUS$107.0b34.7x23.2x3.4x
Sun, 01 Mar 2026US$2.6tUS$734.8bUS$106.7b22.6x24x3.5x
Tue, 27 Jan 2026US$2.9tUS$664.0bUS$107.2b24.4x26.6x4.3x
Thu, 25 Dec 2025US$2.8tUS$656.5bUS$105.5b25.7x27x4.3x
Sat, 22 Nov 2025US$2.6tUS$654.5bUS$106.2b23.6x24.1x3.9x
Mon, 20 Oct 2025US$2.7tUS$625.2bUS$104.6b25.9x25.7x4.3x
Wed, 17 Sep 2025US$2.8tUS$865.9bUS$100.6b27.1x27.8x3.2x
Fri, 15 Aug 2025US$2.8tUS$866.2bUS$101.0b26.6x27.6x3.2x
Sun, 13 Jul 2025US$2.4tUS$590.5bUS$97.0b27.7x25.2x4.1x
Tue, 10 Jun 2025US$2.4tUS$590.4bUS$97.3b27.5x25x4.1x
Thu, 08 May 2025US$2.2tUS$567.0bUS$97.7b25.3x22.9x3.9x
Sat, 05 Apr 2025US$2.1tUS$558.9bUS$94.9b22.6x22.2x3.8x
Mon, 03 Mar 2025US$2.4tUS$554.9bUS$95.4b21.9x25.5x4.4x
Wed, 29 Jan 2025US$2.5tUS$537.3bUS$90.4b23.1x27.9x4.7x
Fri, 27 Dec 2024US$2.4tUS$526.2bUS$81.6b23.5x29.5x4.6x
Sun, 24 Nov 2024US$2.5tUS$524.4bUS$81.7b24.3x30.7x4.8x
Tue, 22 Oct 2024US$2.3tUS$498.9bUS$81.1b22.5x28.4x4.6x
Thu, 19 Sep 2024US$2.1tUS$491.5bUS$77.8b20.8x26.8x4.2x
Sat, 17 Aug 2024US$2.0tUS$492.1bUS$78.0b19.7x25.8x4.1x
Mon, 15 Jul 2024US$2.0tUS$467.8bUS$73.3b20.5x27.2x4.3x
Wed, 12 Jun 2024US$1.9tUS$467.0bUS$73.1b21.1x26x4.1x
Fri, 10 May 2024US$1.9tUS$466.0bUS$73.1b22.4x26x4.1x
Sun, 07 Apr 2024US$1.9tUS$441.1bUS$67.3b20.9x28.2x4.3x
Tue, 05 Mar 2024US$1.9tUS$440.4bUS$67.3b19.3x27.5x4.2x
Thu, 01 Feb 2024US$1.9tUS$433.2bUS$67.7b28x27.4x4.3x
Sat, 30 Dec 2023US$1.9tUS$432.8bUS$70.6b27.8x26.7x4.3x
Mon, 27 Nov 2023US$1.7tUS$432.8bUS$70.6b27.1x23.6x3.8x
Wed, 25 Oct 2023US$1.5tUS$427.0bUS$67.0b27.5x22.2x3.5x
Fri, 22 Sep 2023US$1.6tUS$427.0bUS$68.1b27.9x23.8x3.8x
Sun, 20 Aug 2023US$1.6tUS$426.3bUS$68.1b28.6x23.5x3.8x
Tue, 18 Jul 2023US$1.6tUS$421.1bUS$64.6b31.1x25.1x3.9x
Price to Earnings Ratio

25.1x


Total Market Cap: US$1.6tTotal Earnings: US$64.6bTotal Revenue: US$421.1bTotal 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 20% 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 Market0.74%
Financials0.042%
Capital Markets2.44%
Diversified Capital Markets7.09%
Investment Banking and Brokerage3.19%
Asset Management2.85%
Financial Exchanges and Data0.02%
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 37.6x.
    • Analysts are expecting annual earnings growth of 10.8%, 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 57% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 9.2% 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
MS Morgan StanleyUS$222.283.9%
+US$13.2b		56.2%PE20x
SCHW Charles SchwabUS$103.126.3%
+US$10.6b		12.1%PE19.9x
GS Goldman Sachs GroupUS$1.06k3.3%
+US$10.5b		49.7%PE19x
BLK BlackRockUS$1.04k4.1%
+US$6.3b		-5.9%PE25.7x
BNY Bank of New York MellonUS$151.923.6%
+US$3.6b		62.1%PE18.2x

Latest News

MS
US$222.28
Morgan Stanley
7D
3.9%
1Y
56.2%
CBOE
US$268.07
Cboe Global Markets
7D
7.7%
1Y
14.1%
COIN
US$159.07
Coinbase Global
7D
-3.9%
1Y
-58.9%
SCHW
US$103.12
Charles Schwab
7D
6.3%
1Y
12.1%
KKR
US$96.94
KKR
7D
3.3%
1Y
-31.3%
HLI
US$135.33
Houlihan Lokey
7D
-3.4%
1Y
-28.6%
Narrative Update • Jul 09

HLI: Energy Advisory Expansion And CLO Index Launch Will Support Outlook

The analyst price target for Houlihan Lokey has been reduced from $163 to $155 as analysts now apply slightly higher discount rates and more conservative assumptions for revenue growth, profit margins, and future P/E multiples. What’s in the News for Houlihan Lokey Houlihan Lokey agreed to acquire Intrepid Financial Partners, an independent investment bank focused on the energy sector.
HOOD
US$111.97
Robinhood Markets
7D
-0.7%
1Y
13.9%
BLK
US$1,036.11
BlackRock
7D
4.1%
1Y
-5.9%
BEN
US$33.50
Franklin Resources
7D
-1.8%
1Y
34.7%
Seeking Alpha • Jul 09

Franklin Resources: Time To Rotate The Upside

Summary Franklin Resources (BEN) is rated 'HOLD' due to mixed growth prospects, persistent cost pressures, and unconvincing AUM trends. BEN's recent share price surge is driven by optimistic earnings forecasts, but historical underperformance and frequent estimate misses temper confidence. Operating expenses are rising despite cost-saving efforts, and alternative/multi-asset AUM growth remains insufficient to offset core segment outflows. Valuation is unattractive at current levels; a $23.5/share entry is needed for a compelling 15% annualized return. Read the full article on Seeking Alpha
STT
US$180.22
State Street
7D
5.6%
1Y
64.5%
MCO
US$487.28
Moody's
7D
-0.7%
1Y
-2.5%
BNY
US$151.92
Bank of New York Mellon
7D
3.6%
1Y
62.1%
MC
US$63.75
Moelis
7D
-7.0%
1Y
-8.2%
Narrative Update • Jul 08

MC: Rich Buyback Will Be Balanced By Softer Profitability And Higher P/E Assumptions

Analysts have lifted their price target on Moelis from $58 to $60, citing updated assumptions around a $60 fair value, a lower discount rate of 7.85%, revised revenue growth of 11.41%, a profit margin outlook of 15.65%, and a higher future P/E of 16.82x. What’s in the News for Moelis From January 1, 2026 to February 28, 2026, Moelis repurchased 40,029 shares, representing 0.05% of the company, for US$2.51 million under the buyback announced on February 6, 2019.
SPGI
US$430.50
S&P Global
7D
-2.1%
1Y
-18.3%
Narrative Update • Jul 07

SPGI: AI Data Repositioning After Mobility Spin Will Support Earnings Multiple

For S&P Global, the analyst price target in this update is trimmed by about $30 to $503. Analysts cite revised revenue growth assumptions after the Mobility spin and slightly higher discount rates, partly offset by a firmer profit margin outlook and a modestly higher future P/E multiple.
GS
US$1,055.18
Goldman Sachs Group
7D
3.3%
1Y
49.7%
Seeking Alpha • Jul 04

Goldman Sachs: It's That Time Of Year Again, My Thoughts Into Earnings

Summary Goldman Sachs (GS) remains a buy, supported by robust deal activity, high market volatility, and strong capital markets performance. GS benefits from leading high-profile IPOs like SpaceX and major equity raises, reinforcing its market position and fee generation. Elevated market volatility and record options trading drive GS's intermediation and trading revenues, enhancing near-term earnings visibility. Private credit exposure is marginal for GS, and while peak earnings may be near, a balanced portfolio approach is recommended. Read the full article on Seeking Alpha
TW
US$97.86
Tradeweb Markets
7D
-4.8%
1Y
-28.1%