U.S. Capital Markets Industry Analysis

Industry Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Fri, 21 Aug 2026	US$2.9t	US$789.2b	US$118.2b	38.5x	24.7x	3.7x
Sun, 19 Jul 2026	US$2.8t	US$770.8b	US$118.6b	39.3x	23.9x	3.7x
Tue, 16 Jun 2026	US$2.8t	US$759.1b	US$113.3b	39.9x	24.4x	3.6x
Thu, 14 May 2026	US$2.7t	US$755.6b	US$113.8b	41.8x	23.8x	3.6x
Sat, 11 Apr 2026	US$2.6t	US$736.4b	US$106.8b	39.1x	24x	3.5x
Mon, 09 Mar 2026	US$2.5t	US$731.6b	US$106.9b	21.8x	23.5x	3.4x
Wed, 04 Feb 2026	US$2.8t	US$668.5b	US$107.1b	22.5x	26.4x	4.2x
Fri, 02 Jan 2026	US$2.8t	US$656.5b	US$105.5b	24.9x	26.3x	4.2x
Sun, 30 Nov 2025	US$2.7t	US$656.1b	US$105.4b	23.8x	25.7x	4.1x
Tue, 28 Oct 2025	US$2.7t	US$645.7b	US$104.5b	27x	26.3x	4.3x
Thu, 25 Sep 2025	US$2.8t	US$875.3b	US$101.0b	27.2x	27.9x	3.2x
Sat, 23 Aug 2025	US$2.7t	US$866.4b	US$101.0b	27.1x	26.8x	3.1x
Mon, 21 Jul 2025	US$2.5t	US$596.6b	US$99.2b	28.9x	25.2x	4.2x
Wed, 18 Jun 2025	US$2.4t	US$590.7b	US$97.1b	26.4x	25x	4.1x
Fri, 16 May 2025	US$2.4t	US$590.0b	US$96.1b	27.7x	25.1x	4.1x
Sun, 13 Apr 2025	US$2.1t	US$560.6b	US$96.5b	24.2x	21.4x	3.7x
Tue, 11 Mar 2025	US$2.3t	US$557.3b	US$94.7b	19.9x	23.9x	4.1x
Thu, 06 Feb 2025	US$2.5t	US$541.3b	US$91.5b	22.7x	27.4x	4.6x
Sat, 04 Jan 2025	US$2.4t	US$526.1b	US$81.6b	23x	29x	4.5x
Mon, 02 Dec 2024	US$2.5t	US$524.3b	US$81.7b	24x	30.7x	4.8x
Wed, 30 Oct 2024	US$2.3t	US$503.7b	US$81.1b	23.2x	28.1x	4.5x
Fri, 27 Sep 2024	US$2.1t	US$492.0b	US$77.9b	21.2x	27x	4.3x
Sun, 25 Aug 2024	US$2.0t	US$492.3b	US$78.0b	20.3x	25.5x	4x
Tue, 23 Jul 2024	US$2.0t	US$473.3b	US$76.5b	20.5x	26.1x	4.2x
Thu, 20 Jun 2024	US$1.9t	US$467.1b	US$73.1b	20.8x	26x	4.1x
Sat, 18 May 2024	US$2.0t	US$466.8b	US$73.2b	22.7x	26.8x	4.2x
Mon, 15 Apr 2024	US$1.8t	US$441.7b	US$67.7b	19.9x	27.2x	4.2x
Wed, 13 Mar 2024	US$1.9t	US$472.4b	US$72.1b	19.4x	26.4x	4x
Fri, 09 Feb 2024	US$1.8t	US$437.9b	US$65.2b	19.2x	27.2x	4.1x
Sun, 07 Jan 2024	US$1.8t	US$435.2b	US$70.5b	27.1x	25.9x	4.2x
Tue, 05 Dec 2023	US$1.7t	US$432.8b	US$70.6b	27.1x	24.4x	4x
Thu, 02 Nov 2023	US$1.5t	US$428.7b	US$67.5b	27.1x	22.1x	3.5x
Sat, 30 Sep 2023	US$1.6t	US$426.0b	US$67.9b	28.2x	23.5x	3.7x
Mon, 28 Aug 2023	US$1.6t	US$426.4b	US$68.1b	28.2x	23.5x	3.8x

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 25.7x.

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 23% 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 Market	-2.09%
Financials	-2.43%
Capital Markets	-2.26%
Financial Exchanges and Data	2.45%
Investment Banking and Brokerage	-2.98%
Asset Management	-3.87%
Diversified Capital Markets	-5.51%

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 36.8x.

Analysts are expecting annual earnings growth of 12.5%, which is lower than the prior year's growth of 19.7% 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 47% per year.

In contrast, the Diversified Capital Markets industry is expected to see its earnings decline by 32% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
COIN Coinbase Global	US$172.35	16.1% +US$6.3b	-46.1%	PS7.5x
SPGI S&P Global	US$432.16	2.2% +US$2.8b	-21.8%	PE25.9x
ICE Intercontinental Exchange	US$158.61	2.2% +US$1.9b	-11.5%	PE22.1x
MCO Moody's	US$498.77	2.1% +US$1.8b	-2.1%	PE30.9x
FRHC Freedom Holding	US$163.69	11.8% +US$1.1b	-6.0%	PE70.7x

Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS) proposed to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A. (ENXTPA:ACA), BlackRock, Inc. (NYSE:BLK) and others for €27.7 billion.

Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS) proposed to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A. (ENXTPA:ACA), BlackRock, Inc. (NYSE:BLK) and others for €27.7 billion on August 20, 2026. Under the terms of the acquisition, Banca Monte dei Paschi di Siena S.p.A. will acquire all of the ordinary shares of Banco BPM S.p.A. through a voluntary full public exchange offer. The exchange ratio has been set at 1.567 newly issued shares of Banca Monte dei Paschi di Siena S.p.A. for each existing share of Banco BPM. In a related transaction, Banca Monte dei Paschi di Siena S.p.A. proposed to acquire Banca Generali S.p.A. On full acceptance of both offers, and taking into account the effects of the merger of Mediobanca anca di Credito Finanziario S.p.A. in Banca Monte dei Paschi di Siena , the current Banca Monte dei Paschi di Siena shareholders would hold approximately 50.1% of the combined group, Banco BPM shareholders approximately 37.2% and Banca Generali shareholders approximately 12.7%. Fondazione Cassa di Risparmio di Lucca, Fondazione Cassa di Risparmio di Alessandria, Fondazione ENPAM, Fondazione Cassa di Risparmio di Carpi, Fondazione Cassa di Risparmio di Reggio Emilia Pietro Manodori, Inarcassa – Cassa Nazionale di Previdenza ed Assistenza per ingegneri e architetti liberi professionisti and Cassa Nazionale di Previdenzae Assistenza forense, which together hold approximately 89.95 million shares of Banco BPM S.p.A., representing 5.93% of Banco BPM S.p.A.'s share capital have supported the acquisition. In any event on closing of the offer, if Banca Monte dei Paschi di Siena S.p.A. achieves at least 90% of the Banco BPM S.p.A.'s share capital, Banca Monte dei Paschi di Siena S.p.A. intends to achieve the delisting of the Banco BPM S.p.A. Shares from Euronext Milan. The transaction is subject to approval by the shareholders of Banca Monte dei Paschi di Siena S.p.A., approval by Commissione Nazionale per le Società e la Borsa (CONSOB) and obtaining a minimum acceptance of 50% of the Banco BPM S.p.A.'s share capital plus one share. The deal has been approved by the board of directors of Banca Monte dei Paschi di Siena S.p.A. The transaction is expected to close by mid-February 2027. The combined Offers are expected to generate around 11% accretion in 2028 EPS taking into account the full realisation of expected synergies. UBS Europe SE, Italian Branch acted as financial advisor to Banca Monte dei Paschi di Siena S.p.A. BofA Securities Europe SA acted as financial advisor to Banca Monte dei Paschi di Siena S.p.A. Vitale&Co. S.P.A. acted as financial advisor to Banca Monte dei Paschi di Siena S.p.A. Keefe, Bruyette & Woods, Inc. acted as financial advisor to Banca Monte dei Paschi di Siena S.p.A. Bonelli Erede Pappalardo Studio Legale acted as legal advisor to Banca Monte dei Paschi di Siena S.p.A. White & Case LLP acted as legal advisor to Banca Monte dei Paschi di Siena S.p.A. Clifford Chance Studio Legale Associato acted as legal advisor to Banca Monte dei Paschi di Siena S.p.A. PricewaterhouseCoopers SpA acted as fairness opinion provider to Banca Monte dei Paschi di Siena S.p.A.

U.S. Capital Markets Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS) proposed to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A. (ENXTPA:ACA), BlackRock, Inc. (NYSE:BLK) and others for €27.7 billion.

A subsidiary of A.P. Møller Holding A/S signecompleted the acquisition of quire Ocean Yield AS from funds managed by KKR & Co. Inc. (NYSE:KKR).

Coinbase Expands Base App With 290 Leveraged Markets After Hyperliquid Integration

Ares Management Sells €3 Billion Interest Bundle in European Direct-Lending Fund Restructuring

Futu Holdings Reports Record Q2 Trading as AI and Semiconductor Themes Drive Growth

Intercontinental Exchange to Invest Up to $2 Billion in Polymarket Prediction Platform

The Goldman Sachs Group, Inc. (NYSE:GS) entered into an agreement to acquire LCN Capital Partners, L.P. for $410 million.

Former Morgan Stanley Advisor Levels Discrimination Claims as Legal Scrutiny Rises

Freedom Holding Subsidiary Receives Historic Turkish Brokerage License Since 1992

Upcoming dividend of US$0.97 per share

Third quarter dividend of US$1.16 announced

Blackstone Inc. (NYSE:BX) and L3 Capital LLC acquired 125 Worth Avenue from 125 Worth LLC for $86 million.

Moody’s Corporation Announces Appointment of Keith Demmings to Board of Directors, Effective November 1, 2026

The Bank of New York Mellon Corporation Announces Appointment of Vikram Malhotra as Independent Director, Effective October 1, 2026

Independent Director recently bought US$100k worth of stock

Executive Vice President of Marketing exercised options and sold US$1.0m worth of stock