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U.S. Capital Markets Industry Analysis

UpdatedNov 02, 2025
DataAggregated Company Financials
Companies355
  • 7D-1.4%
  • 3M-2.4%
  • 1Y20.0%
  • YTD12.6%

Over the last 7 days, the Capital Markets industry has dropped 1.4%, driven by a pullback from BlackRock of 4.7%. On the other hand Robinhood Markets is actually up 5.0%. This takes the industry's 12 month performance to a gain of 20%. Earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 02 Nov 2025US$2.7tUS$647.7bUS$105.5b24x25.7x4.2x
Tue, 30 Sep 2025US$2.8tUS$874.9bUS$100.9b27.1x27.7x3.2x
Thu, 28 Aug 2025US$2.8tUS$866.9bUS$100.7b27.1x27.4x3.2x
Sat, 26 Jul 2025US$2.8tUS$597.8bUS$99.4b28.9x27.8x4.6x
Mon, 23 Jun 2025US$2.4tUS$590.6bUS$97.1b26.9x24.7x4.1x
Wed, 21 May 2025US$2.4tUS$590.1bUS$96.1b28.1x25.4x4.1x
Fri, 18 Apr 2025US$2.1tUS$562.6bUS$96.4b23.1x21.5x3.7x
Sun, 16 Mar 2025US$2.2tUS$557.5bUS$94.9b23x23.2x3.9x
Tue, 11 Feb 2025US$2.5tUS$551.7bUS$91.9b22.4x27.5x4.6x
Thu, 09 Jan 2025US$2.4tUS$526.1bUS$81.6b23.3x28.8x4.5x
Sat, 07 Dec 2024US$2.5tUS$524.3bUS$81.6b24.4x30.5x4.7x
Mon, 04 Nov 2024US$2.2tUS$506.7bUS$81.6b23.1x27.3x4.4x
Wed, 02 Oct 2024US$2.1tUS$492.0bUS$77.9b21.7x27.3x4.3x
Fri, 30 Aug 2024US$2.0tUS$492.1bUS$78.0b20.4x26.2x4.2x
Sun, 28 Jul 2024US$2.0tUS$476.4bUS$77.1b21.1x26.4x4.3x
Tue, 25 Jun 2024US$1.9tUS$467.2bUS$73.2b21.4x26x4.1x
Thu, 23 May 2024US$2.0tUS$466.9bUS$73.2b22.7x27.1x4.2x
Sat, 20 Apr 2024US$1.8tUS$446.1bUS$69.4b19.1x26.3x4.1x
Mon, 18 Mar 2024US$1.8tUS$440.4bUS$67.2b19.4x27.5x4.2x
Wed, 14 Feb 2024US$1.8tUS$439.0bUS$65.6b18.9x26.9x4x
Fri, 12 Jan 2024US$1.8tUS$432.7bUS$70.6b27.1x25.8x4.2x
Sun, 10 Dec 2023US$1.6tUS$432.8bUS$70.6b27.1x22.7x3.7x
Tue, 07 Nov 2023US$1.6tUS$429.1bUS$68.9b27x23x3.7x
Thu, 05 Oct 2023US$1.6tUS$425.5bUS$68.0b28.1x23.2x3.7x
Sat, 02 Sep 2023US$1.7tUS$430.8bUS$72.2b28.2x23.5x3.9x
Mon, 31 Jul 2023US$1.7tUS$424.0bUS$62.8b31.1x26.7x4x
Wed, 28 Jun 2023US$1.5tUS$419.5bUS$64.4b31.3x23.9x3.7x
Fri, 26 May 2023US$1.5tUS$419.4bUS$64.4b32.2x23x3.5x
Sun, 23 Apr 2023US$1.6tUS$419.8bUS$65.6b27.8x24.1x3.8x
Tue, 21 Mar 2023US$1.5tUS$424.1bUS$69.2b28.7x22.1x3.6x
Thu, 16 Feb 2023US$1.8tUS$427.5bUS$71.8b28.2x24.5x4.1x
Sat, 14 Jan 2023US$1.7tUS$442.6bUS$85.0b27.4x20.2x3.9x
Mon, 12 Dec 2022US$1.6tUS$443.4bUS$85.8b27.2x19.2x3.7x
Wed, 09 Nov 2022US$1.6tUS$440.4bUS$87.0b24.9x18.8x3.7x
Price to Earnings Ratio

18.8x


Total Market Cap: US$1.6tTotal Earnings: US$87.0bTotal Revenue: US$440.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Capital Markets Industry Price to Earnings3Y Average 25.2x202320242025
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 25.2x.
  • 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 6.6% per year over the last three years.
  • Revenues for these companies have grown 14% 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 Market0.54%
Financials-1.61%
Capital Markets-1.37%
Diversified Capital Markets24.11%
Investment Banking and Brokerage0.89%
Financial Exchanges and Data-2.69%
Asset Management-3.12%
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 40.2x.
    • Analysts are expecting annual earnings growth of 8.0%, which is lower than the prior year's growth of 13.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Capital Markets industry, expecting annual earnings growth of 25% 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 8.0% 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
HOOD Robinhood MarketsUS$146.785.0%
+US$6.2b		512.3%PE73x
LPLA LPL Financial HoldingsUS$377.3110.9%
+US$3.0b		34.4%PE36.3x
FUTU Futu HoldingsUS$199.0411.6%
+US$2.9b		109.3%PE27.2x
MSCI MSCIUS$588.558.5%
+US$2.3b		1.8%PE36.2x
CBOE Cboe Global MarketsUS$245.642.9%
+US$734.0m		17.0%PE26.3x

Latest News

CG
US$53.32
Carlyle Group
7D
-8.8%
1Y
6.8%
AMP
US$452.77
Ameriprise Financial
7D
-5.5%
1Y
-10.7%

AMP: Banking Expansion Will Drive Greater Profitability And Future Opportunity

Analysts have slightly lowered their price target for Ameriprise Financial, reducing it by $2.36 to reflect updated expectations for growth and profitability. What's in the News ChoiceOne Bank has shifted its investment program to the Ameriprise Financial Institution Group (AFIG) from Osaic Institutions, Inc.
CBOE
US$245.64
Cboe Global Markets
7D
2.9%
1Y
17.0%
COIN
US$343.78
Coinbase Global
7D
-3.0%
1Y
88.0%
FUTU
US$199.04
Futu Holdings
7D
11.6%
1Y
109.3%

FUTU: Easing Regulatory Headwinds And Digital Finance Will Guide Next Phase

Futu Holdings' analyst price target increased by approximately $4, with the new consensus reflecting continued strong performance in revenue and profitability. Analysts cite robust operating trends and narrowing valuation discounts as contributing factors.
IBKR
US$70.36
Interactive Brokers Group
7D
2.3%
1Y
83.0%

IBKR: Sustained Leadership In Global Trading Will Navigate Competitive And Rate Pressures Ahead

The analyst price target for Interactive Brokers Group has increased modestly from $75.90 to $76.64, with analysts citing strong revenue growth forecasts and the company's persistent leadership in global electronic trading as supporting factors. Analyst Commentary Recent updates from research firms highlight a mix of optimistic and cautious perspectives on Interactive Brokers Group, reflecting the company's nuanced positioning within the global electronic trading sector.
MSCI
US$588.55
MSCI
7D
8.5%
1Y
1.8%

MSCI: Improved Margins And Share Buybacks Will Drive Stock Momentum

Analysts have raised their price target on MSCI from $627.81 to $655.06, reflecting improved profit margins and a premium valuation. This comes despite moderating revenue growth and a cautious outlook on Sustainability product momentum.
LPLA
US$377.31
LPL Financial Holdings
7D
10.9%
1Y
34.4%
ICE
US$146.29
Intercontinental Exchange
7D
-7.2%
1Y
-5.4%
SPGI
US$487.21
S&P Global
7D
-0.5%
1Y
0.8%
BX
US$146.64
Blackstone
7D
-5.1%
1Y
-12.8%
BLK
US$1,082.81
BlackRock
7D
-4.7%
1Y
9.9%

BLK: Data Center Acquisitions Will Drive Expansion in AI Infrastructure Markets

Analysts have increased their price target for BlackRock, raising it from approximately $1,300 to $1,334. They cite strong Q3 results, robust inflows, improved earnings estimates, and confidence in the firm's long-term growth opportunities.
NTRS
US$128.67
Northern Trust
7D
2.1%
1Y
28.8%

Fee Headwinds And Market Shifts Will Shape Margins In Coming Quarters

Analysts have modestly increased their fair value estimate for Northern Trust to $134.86 per share, citing adjusted discount rates, slight shifts in revenue growth assumptions, and a resilient profit margin outlook. This follows mixed but generally stable Street sentiment on recent results and future prospects.
HOOD
US$146.78
Robinhood Markets
7D
5.0%
1Y
512.3%

Product Expansion And Competitive Shifts Will Shape Market Momentum Ahead

Robinhood Markets' analyst price target has been raised from approximately $129 to $134. This change reflects analysts' optimism about the company's accelerating revenue growth, stronger profit margins, and improved product expansion outlook.
KKR
US$118.33
KKR
7D
-2.4%
1Y
-14.0%

Capital Markets Recovery and Major Transactions Will Shape Alternative Asset Finance

Analysts have modestly lowered their price target for KKR by a few dollars to reflect continued sector headwinds. They also acknowledge ongoing capital markets recovery and resilient earnings fundamentals.
XP
US$18.22
XP
7D
3.7%
1Y
8.6%

Brazil's Evolving Landscape Will Unlock Broad Market Opportunities

XP's analyst price target has been modestly lifted from $22.92 to $23.50, as analysts incorporate revised growth estimates and extend valuation timeframes. This change comes despite mixed expectations for near-term performance.