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U.S. Financials Sector Analysis

UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies1428
  • 7D0.2%
  • 3M-1.9%
  • 1Y3.6%
  • YTD-4.5%

In the last week, the Financials industry is down 1.7% with Mastercard down the most at 3.5%. Meanwhile, Coinbase Global actually outperformed within the industry, gaining 12% in the last week. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to grow by 10.0% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Feb 2026US$9.9tUS$3.3tUS$565.5b12.4x17.5x3x
Sun, 25 Jan 2026US$10.2tUS$3.2tUS$557.9b12.7x18.4x3.2x
Tue, 23 Dec 2025US$10.5tUS$3.2tUS$552.6b12.9x19x3.3x
Thu, 20 Nov 2025US$9.8tUS$3.2tUS$553.7b11.9x17.7x3.1x
Sat, 18 Oct 2025US$9.9tUS$3.1tUS$528.0b12.4x18.8x3.2x
Mon, 15 Sep 2025US$10.4tUS$3.3tUS$517.4b13.1x20.1x3.1x
Wed, 13 Aug 2025US$10.0tUS$3.3tUS$517.4b12.6x19.3x3x
Fri, 11 Jul 2025US$10.0tUS$3.0tUS$524.9b13.3x19x3.3x
Sun, 08 Jun 2025US$9.7tUS$3.0tUS$525.4b12.5x18.4x3.2x
Tue, 06 May 2025US$9.4tUS$3.0tUS$533.5b12.3x17.5x3.1x
Thu, 03 Apr 2025US$9.4tUS$3.0tUS$544.7b12.3x17.3x3.2x
Sat, 01 Mar 2025US$9.7tUS$3.0tUS$545.6b12.6x17.8x3.3x
Mon, 27 Jan 2025US$9.5tUS$2.9tUS$539.8b12.9x17.6x3.2x
Wed, 25 Dec 2024US$9.5tUS$2.9tUS$504.7b13.1x18.7x3.2x
Fri, 22 Nov 2024US$9.6tUS$2.9tUS$504.6b13.5x19x3.3x
Sun, 20 Oct 2024US$9.1tUS$2.8tUS$469.9b12.9x19.5x3.2x
Tue, 17 Sep 2024US$8.5tUS$2.8tUS$466.0b12.5x18.3x3x
Thu, 15 Aug 2024US$8.1tUS$2.8tUS$466.0b11.9x17.5x2.9x
Sat, 13 Jul 2024US$8.1tUS$2.8tUS$461.2b11.3x17.6x2.9x
Mon, 10 Jun 2024US$7.9tUS$2.8tUS$463.1b10.7x17x2.8x
Wed, 08 May 2024US$7.9tUS$2.8tUS$468.4b10.9x16.9x2.9x
Fri, 05 Apr 2024US$8.0tUS$2.7tUS$475.0b10.7x16.8x2.9x
Sun, 03 Mar 2024US$7.7tUS$2.7tUS$472.8b10.6x16.3x2.8x
Tue, 30 Jan 2024US$7.6tUS$2.7tUS$423.0b12.4x17.9x2.8x
Thu, 28 Dec 2023US$7.4tUS$2.7tUS$446.8b11.7x16.7x2.8x
Sat, 25 Nov 2023US$6.9tUS$2.7tUS$446.4b10.6x15.4x2.5x
Mon, 23 Oct 2023US$6.3tUS$2.7tUS$435.9b10.1x14.4x2.3x
Wed, 20 Sep 2023US$6.8tUS$2.7tUS$430.8b10.4x15.8x2.5x
Fri, 18 Aug 2023US$6.7tUS$2.7tUS$431.0b10.8x15.5x2.5x
Sun, 16 Jul 2023US$6.7tUS$2.6tUS$349.6b10.7x19.1x2.6x
Tue, 13 Jun 2023US$6.4tUS$2.6tUS$341.1b10.5x18.9x2.5x
Thu, 11 May 2023US$6.2tUS$2.6tUS$345.6b10.1x17.9x2.4x
Sat, 08 Apr 2023US$6.3tUS$2.6tUS$318.4b10.8x19.6x2.4x
Mon, 06 Mar 2023US$5.7tUS$2.4tUS$308.8b11.8x18.6x2.4x
Price to Earnings Ratio

18.6x


Total Market Cap: US$5.7tTotal Earnings: US$308.8bTotal 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 Market0.58%
Financials0.21%
Insurance1.70%
Capital Markets1.45%
Mortgage REITs0.45%
Mortgage Finance0%0
Diversified Financial-0.045%
Consumer Finance-0.51%
Banks-1.25%
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 expect its future annual earnings growth (12.8%) to be largely in line with prior year's earnings growth.
  • 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 4.3% 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
FITB Fifth Third BancorpUS$51.97-1.8%
US$11.9b		20.9%PB2.3x
BRK.A Berkshire HathawayUS$753.25k1.0%
+US$10.3b		-0.02%PE16.1x
SCHW Charles SchwabUS$97.523.9%
+US$6.5b		24.3%PE19.6x
SPGI S&P GlobalUS$437.495.0%
+US$6.2b		-16.7%PE29.2x
PGR ProgressiveUS$211.734.9%
+US$5.8b		-24.0%PE11x

Latest News

SCHW
US$97.52
Charles Schwab
7D
3.9%
1Y
24.3%
WFC
US$86.30
Wells Fargo
7D
-1.5%
1Y
12.6%
FITB
US$51.97
Fifth Third Bancorp
7D
-1.8%
1Y
20.9%
NU
US$15.06
Nu Holdings
7D
-13.0%
1Y
33.9%
BX
US$117.95
Blackstone
7D
-6.2%
1Y
-25.1%
SPGI
US$437.49
S&P Global
7D
5.0%
1Y
-16.7%

SPGI: Ratings Strength And AI Data Integrations Will Support Earnings Quality

The analyst price target in our S&P Global model has been reset from about $610 to about $538, as analysts factor in more intense competition in market data, evolving views on the impact of AI, and a lower assumed future P/E multiple. This still sits alongside generally constructive Street research on longer term growth for information and business services companies.
ICE
US$162.89
Intercontinental Exchange
7D
5.7%
1Y
-4.7%
MA
US$514.77
Mastercard
7D
-1.1%
1Y
-8.9%
KKR
US$93.62
KKR
7D
-7.9%
1Y
-29.2%
PGR
US$211.73
Progressive
7D
4.9%
1Y
-24.0%

PGR: Softening Cycle And Policy Momentum Will Support Future Earnings Power

Our fair value estimate for Progressive has been trimmed by about $10 to $239, as analysts factor in slightly softer premium and policy growth, modest pressure on margins, and more conservative assumptions for investment income and future P/E multiples following a series of lower Street price targets. Analyst Commentary Recent Street research around Progressive reflects a mixed but generally engaged view, with multiple firms fine-tuning their price targets and assumptions rather than making wholesale shifts in stance.
MS
US$177.49
Morgan Stanley
7D
1.8%
1Y
37.3%
MCO
US$479.47
Moody's
7D
6.7%
1Y
-2.7%
AXP
US$335.32
American Express
7D
-2.1%
1Y
14.0%

AXP: Future Performance Will Reflect 2026 Guide And Regulatory Risk Balancing

American Express's analyst fair value estimate has been revised higher to $379.60 from $354.83, as analysts factor in slightly lower discount rates, a modestly higher assumed future P/E multiple, and updated views on revenue growth and margins following a mix of recent price target hikes and trims across the Street. Analyst Commentary Recent Street research on American Express shows a split view, with several firms lifting price targets and a few trimming them or keeping more cautious stances.
V
US$316.70
Visa
7D
-0.7%
1Y
-11.0%

The "Toll-Booth" Under Siege: Is the 21.2% Intrinsic Discount Justified?

As of February 2026, Visa’s narrative is shifting from "endless consumer spending" to a high-stakes battle over "take-rates." While the company’s global dominance remains unchallenged—holding a massive 61% market share of the digital payments landscape—the regulatory pressure on interchange fees in the U.S. and Europe has finally begun to weigh on sentiment. Investors are now questioning if the legacy "cash-to-card" tailwind is fully exhausted, forcing Visa to rely more heavily on its value-added services and B2B initiatives like Visa Direct to sustain its high-margin growth.
JPM
US$306.13
JPMorgan Chase
7D
-0.6%
1Y
18.2%
BRK.A
US$753,250.00
Berkshire Hathaway
7D
1.0%
1Y
-0.02%

The "Abel Era" and the $382 Billion War Chest

The Transition: From Stock-Picking to Operational Rigor While Buffett was the world’s greatest capital allocator, Greg Abel is fundamentally an operational master. Having risen through Berkshire Hathaway Energy (BHE), Abel’s 2026 mandate is to extract more efficiency from the "Big Four" pillars (Insurance, BNSF, BHE, and Manufacturing).