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U.S. Financials Sector Analysis

UpdatedMar 09, 2026
DataAggregated Company Financials
Companies1421
  • 7D-1.8%
  • 3M-5.9%
  • 1Y3.5%
  • YTD-8.3%

Over the last 7 days, the Financials industry has dropped 1.8%, driven by a pullback from JPMorgan Chase of 2.7%. In the past year, the industry has gained 3.5%. Earnings are forecast to grow by 9.1% annually.

Sector Valuation and Performance

Has the U.S. Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Mar 2026US$9.6tUS$3.3tUS$562.6b11.9x17.1x2.9x
Thu, 05 Feb 2026US$10.2tUS$3.3tUS$566.0b12.7x18.1x3.1x
Sat, 03 Jan 2026US$10.5tUS$3.2tUS$552.7b12.6x19x3.3x
Mon, 01 Dec 2025US$10.2tUS$3.2tUS$552.6b12.3x18.5x3.2x
Wed, 29 Oct 2025US$10.3tUS$3.1tUS$536.1b12.3x19.1x3.3x
Fri, 26 Sep 2025US$10.4tUS$3.3tUS$517.7b13x20.1x3.1x
Sun, 24 Aug 2025US$10.3tUS$3.3tUS$517.7b13.1x19.9x3.1x
Tue, 22 Jul 2025US$10.0tUS$3.0tUS$534.6b13.1x18.8x3.3x
Thu, 19 Jun 2025US$9.4tUS$3.0tUS$525.5b12.3x17.9x3.1x
Sat, 17 May 2025US$9.7tUS$3.0tUS$528.2b12.8x18.4x3.2x
Mon, 14 Apr 2025US$8.8tUS$3.0tUS$547.9b11.3x16x3x
Wed, 12 Mar 2025US$9.1tUS$3.0tUS$545.0b11.8x16.6x3.1x
Fri, 07 Feb 2025US$9.9tUS$3.0tUS$552.3b12.8x18x3.4x
Sun, 05 Jan 2025US$9.4tUS$2.9tUS$505.8b12.9x18.5x3.2x
Tue, 03 Dec 2024US$9.9tUS$2.9tUS$504.7b13.7x19.6x3.4x
Thu, 31 Oct 2024US$9.0tUS$2.9tUS$471.2b12.7x19.2x3.2x
Sat, 28 Sep 2024US$8.7tUS$2.8tUS$466.3b12.4x18.6x3.1x
Mon, 26 Aug 2024US$8.5tUS$2.8tUS$466.0b12.5x18.1x3x
Wed, 24 Jul 2024US$8.3tUS$2.8tUS$465.1b12.3x17.9x3x
Fri, 21 Jun 2024US$7.9tUS$2.8tUS$463.0b10.6x17x2.8x
Sun, 19 May 2024US$8.1tUS$2.8tUS$463.2b11x17.5x2.9x
Tue, 16 Apr 2024US$7.6tUS$2.7tUS$476.6b10.3x15.9x2.8x
Thu, 14 Mar 2024US$7.8tUS$2.7tUS$472.9b10.6x16.5x2.9x
Sat, 10 Feb 2024US$7.5tUS$2.7tUS$431.6b10.6x17.3x2.8x
Mon, 08 Jan 2024US$7.4tUS$2.7tUS$447.8b11.4x16.5x2.7x
Wed, 06 Dec 2023US$7.0tUS$2.7tUS$446.3b10.9x15.8x2.6x
Fri, 03 Nov 2023US$6.3tUS$2.7tUS$444.4b10.5x14.3x2.4x
Sun, 01 Oct 2023US$6.5tUS$2.7tUS$430.8b10.3x15.1x2.4x
Tue, 29 Aug 2023US$6.6tUS$2.7tUS$430.9b10.5x15.4x2.5x
Thu, 27 Jul 2023US$6.9tUS$2.6tUS$350.0b11.3x19.8x2.6x
Sat, 24 Jun 2023US$6.4tUS$2.6tUS$341.2b10.4x18.6x2.5x
Mon, 22 May 2023US$6.3tUS$2.6tUS$341.0b10.3x18.4x2.4x
Wed, 19 Apr 2023US$6.5tUS$2.6tUS$325.4b10.6x19.9x2.5x
Fri, 17 Mar 2023US$5.1tUS$2.4tUS$307.3b10.8x16.7x2.2x
Price to Earnings Ratio

16.7x


Total Market Cap: US$5.1tTotal Earnings: US$307.3bTotal Revenue: US$2.4tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Financials Sector Price to Earnings3Y Average 17.8x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Financials 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 17.8x.
  • The industry is trading close to its 3-year average PS ratio of 2.9x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 22% per year over the last three years.
  • Revenues for these companies have grown 11% 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 sector?

US Market-2.17%
Financials-1.84%
Mortgage Finance0%0
Diversified Financial-0.62%
Insurance-1.52%
Consumer Finance-1.70%
Capital Markets-2.15%
Mortgage REITs-2.38%
Banks-2.94%
Industry PE
  • Investors are most optimistic about the Capital Markets industry, which is trading close to its 3-year average PE ratio of 25.7x.
    • Analysts are expecting annual earnings growth of 12.8%, which is lower than the prior year's growth of 15.8% per year.
  • Investors are most pessimistic about the Mortgage REITs industry, which is trading below its 3-year average of 19.8x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 17% over the next 5 years.
  • However this is lower than its past earnings growth rate of 30% per year.
  • In contrast, the Insurance industry is expected to see its earnings grow by 4.2% 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
BRK.A Berkshire HathawayUS$745.20k3.5%
+US$36.3b		0.03%PE16x
COIN Coinbase GlobalUS$199.797.9%
+US$3.8b		11.5%PE41.9x
AFRM Affirm HoldingsUS$50.818.9%
+US$1.4b		9.5%PE59.9x
TOST ToastUS$29.497.0%
+US$1.1b		-11.9%PE50.8x
APO Apollo Global ManagementUS$108.141.6%
+US$977.2m		-14.2%PE17.9x

Latest News

WFC
US$78.83
Wells Fargo
7D
-4.5%
1Y
18.0%

WFC: Future Returns Will Reflect ROTCE Expansion And Capital Return Durability

Analysts have nudged our Wells Fargo fair value estimate slightly lower to about $101 from roughly $102, reflecting modestly reduced sector valuation assumptions, even as they highlight stable earnings forecasts, steady profitability expectations, and a slightly lower future P/E multiple in recent price target moves across the Street. Analyst Commentary Recent Street research on Wells Fargo reflects a mix of optimism and caution, with several firms adjusting price targets in both directions while largely keeping earnings assumptions intact.
COIN
US$199.79
Coinbase Global
7D
7.9%
1Y
11.5%
BAC
US$47.90
Bank of America
7D
-3.8%
1Y
20.3%
FIGR
US$32.64
Figure Technology Solutions
7D
9.8%
1Y
n/a
GS
US$832.03
Goldman Sachs Group
7D
-3.4%
1Y
56.5%
BLK
US$957.67
BlackRock
7D
-10.4%
1Y
4.6%
V
US$315.97
Visa
7D
-1.4%
1Y
-7.5%

V: Stablecoin Settlement And Cross Border Partnerships Will Sustain Network Moat

The analyst price target for Visa has been reduced by about $0.60 to roughly $400, as analysts refine their discount rate and P/E assumptions while still highlighting recurring inclusion on preferred idea lists and multiple Buy ratings as support for the long-term story. Analyst Commentary Recent research shows a mix of optimism around Visa long term positioning alongside some valuation and regulatory caution.
JPM
US$289.92
JPMorgan Chase
7D
-2.6%
1Y
24.8%

JPM: Higher ROTCE And Capital Return Are Expected To Drive Upside

Narrative Update: JPMorgan Chase We are lifting our analyst price target for JPMorgan Chase to $400 from $391, reflecting analysts' updated views that factor in stronger assumed revenue growth, a slightly lower discount rate, and a modestly lower future P/E and profit margin profile following recent research and the company's investor updates. Analyst Commentary Recent Street research around JPMorgan Chase has been active on both sides, but the more optimistic voices are highlighting specific earnings drivers, capital return themes, and fee income opportunities that they believe are not fully reflected in current market expectations.
APO
US$108.14
Apollo Global Management
7D
1.6%
1Y
-14.2%
SPGI
US$445.28
S&P Global
7D
0.5%
1Y
-8.8%
MS
US$160.45
Morgan Stanley
7D
-3.9%
1Y
43.7%

MS: Future Returns Will Rely On Buybacks And Higher Underwriting Profitability

Analysts have maintained their $221.00 price target for Morgan Stanley, noting that slight adjustments to the discount rate, revenue growth, profit margin, and forward P/E assumptions have influenced this view. What's in the News Morgan Stanley & Co. LLC has been added as a co-lead underwriter for the bank's US$3.25 billion fixed income offering, alongside MUFG Securities Americas Inc.
FIS
US$51.62
Fidelity National Information Services
7D
3.2%
1Y
-27.6%
BRK.A
US$745,200.00
Berkshire Hathaway
7D
3.5%
1Y
0.03%
C
US$106.59
Citigroup
7D
-4.4%
1Y
58.1%

C: Capital Actions And Consumer Restructuring Will Shape Future Earnings Quality

Analysts have nudged their Citigroup price target slightly lower to about $114.04 from roughly $114.36, reflecting updated views on growth, profitability, discount rates and future P/E assumptions. What's in the News Citigroup Global Markets Inc.
AFRM
US$50.81
Affirm Holdings
7D
8.9%
1Y
9.5%

AFRM: Future Returns Will Depend On Embedded Payments Outweighing Credit And BNPL Fears

Analysts have trimmed their fair value estimate for Affirm Holdings, with the implied price target moving from about $64.44 to $55.74 as they factor in lower peer multiples, ongoing BNPL competition and macro risk around its credit products, even as some still see longer term category growth potential. Analyst Commentary Recent Street research around Affirm highlights a mix of optimism on the broader buy now, pay later theme and caution on how that translates into equity value for the stock.
TOST
US$29.49
Toast
7D
7.0%
1Y
-11.9%

TOST: Restaurant Execution And AI Adoption Will Support Future Margin Expansion

Our updated fair value estimate for Toast has moved lower to $37.58 from $46.38, reflecting a broad wave of reduced Street price targets as analysts factor in slightly softer long term revenue growth assumptions, improved margin expectations, and lower sector P/E multiples, while still generally viewing recent Q4 performance as solid. Analyst Commentary Street research on Toast has become more mixed, with most firms trimming price targets while still generally acknowledging solid Q4 execution.