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U.S. Financials Sector Analysis

UpdatedMay 27, 2026
DataAggregated Company Financials
Companies1413
  • 7D1.5%
  • 3M0.006%
  • 1Y2.8%
  • YTD-5.3%

In the last week, the Financials industry is up 1.5%, with JPMorgan Chase up 3.7%. Meanwhile, CME Group actually underperformed within the industry, shrinking 6.6% in the last week. Overall in the last year, the industry is flat. As for the next few years, earnings are expected to grow by 8.9% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 28 May 2026US$9.9tUS$3.4tUS$597.2b12.6x16.5x2.9x
Sat, 25 Apr 2026US$9.9tUS$3.3tUS$579.8b13x17.1x3x
Mon, 23 Mar 2026US$9.3tUS$3.3tUS$562.8b11.9x16.6x2.8x
Wed, 18 Feb 2026US$9.9tUS$3.3tUS$564.9b12.6x17.6x3x
Fri, 16 Jan 2026US$10.4tUS$3.2tUS$553.2b12.9x18.8x3.3x
Sun, 14 Dec 2025US$10.5tUS$3.2tUS$552.5b12.9x19.1x3.3x
Tue, 11 Nov 2025US$10.1tUS$3.2tUS$554.3b12.1x18.2x3.2x
Thu, 09 Oct 2025US$10.4tUS$3.3tUS$517.3b12.9x20x3.1x
Sat, 06 Sep 2025US$10.4tUS$3.3tUS$517.7b13x20.1x3.1x
Mon, 04 Aug 2025US$9.9tUS$3.0tUS$538.8b12.1x18.3x3.2x
Wed, 02 Jul 2025US$9.8tUS$3.0tUS$525.6b12.8x18.7x3.3x
Fri, 30 May 2025US$9.5tUS$3.0tUS$525.4b12.5x18.1x3.2x
Sun, 27 Apr 2025US$9.1tUS$3.0tUS$548.1b11.9x16.6x3x
Tue, 25 Mar 2025US$9.4tUS$3.0tUS$544.7b12.4x17.2x3.2x
Thu, 20 Feb 2025US$9.9tUS$3.0tUS$558.2b12.8x17.8x3.4x
Sat, 18 Jan 2025US$9.6tUS$2.9tUS$535.4b13x17.9x3.3x
Mon, 16 Dec 2024US$9.6tUS$2.9tUS$504.7b13.5x19x3.3x
Wed, 13 Nov 2024US$9.7tUS$2.9tUS$504.6b13.6x19.1x3.3x
Fri, 11 Oct 2024US$8.8tUS$2.8tUS$466.9b12.3x18.8x3.1x
Sun, 08 Sep 2024US$8.4tUS$2.8tUS$465.9b12.1x18.1x3x
Tue, 06 Aug 2024US$8.1tUS$2.8tUS$470.3b11.6x17.1x2.9x
Thu, 04 Jul 2024US$8.0tUS$2.8tUS$461.2b11x17.3x2.9x
Sat, 01 Jun 2024US$7.9tUS$2.8tUS$463.2b10.8x17x2.8x
Mon, 29 Apr 2024US$7.8tUS$2.7tUS$480.5b10.8x16.3x2.9x
Wed, 27 Mar 2024US$7.9tUS$2.7tUS$474.9b10.7x16.7x2.9x
Fri, 23 Feb 2024US$7.6tUS$2.7tUS$436.5b10.6x17.3x2.8x
Sun, 21 Jan 2024US$7.4tUS$2.7tUS$426.0b11.4x17.3x2.7x
Tue, 19 Dec 2023US$7.3tUS$2.7tUS$446.6b11.5x16.4x2.7x
Thu, 16 Nov 2023US$6.7tUS$2.7tUS$446.8b10.8x15x2.5x
Sat, 14 Oct 2023US$6.5tUS$2.7tUS$436.7b10.1x14.8x2.4x
Mon, 11 Sep 2023US$6.5tUS$2.7tUS$430.7b10.5x15.2x2.5x
Wed, 09 Aug 2023US$6.9tUS$2.7tUS$430.9b11.1x16x2.6x
Fri, 07 Jul 2023US$6.5tUS$2.6tUS$342.9b10.5x18.9x2.5x
Sun, 04 Jun 2023US$6.4tUS$2.6tUS$341.0b10.5x18.6x2.5x
Price to Earnings Ratio

18.6x


Total Market Cap: US$6.4tTotal Earnings: US$341.0bTotal Revenue: US$2.6tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Financials Sector Price to Earnings3Y Average 17.7x202420252026
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 17.7x.
  • The industry is trading close to its 3-year average PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 21% per year over the last three years.
  • Revenues for these companies have grown 9.1% 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 Market2.46%
Financials1.50%
Banks3.79%
Mortgage REITs2.09%
Capital Markets1.68%
Consumer Finance1.63%
Diversified Financial0.068%
Mortgage Finance0%0
Insurance-0.71%
Industry PE
  • Investors are most optimistic about the Capital Markets industry, which is trading close to its 3-year average PE ratio of 25.8x.
    • Analysts are expecting annual earnings growth of 11.5%, which is lower than the prior year's growth of 37.2% per year.
  • Investors are most pessimistic about the Insurance industry, which is trading below its 3-year average of 17.5x.
Forecasted Growth
  • Analysts are most optimistic on the Mortgage REITs industry, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings growth rate of 4.1% per year.
  • In contrast, the Insurance industry is expected to see its earnings growth to stay flat 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$201.611.9%
+US$6.1b		58.1%PE18.2x
GS Goldman Sachs GroupUS$996.471.5%
+US$4.4b		63.8%PE17.9x
BLK BlackRockUS$1.07k1.8%
+US$2.9b		10.2%PE26.6x
AXP American ExpressUS$312.540.9%
+US$1.9b		6.5%PE19.2x
RKT Rocket CompaniesUS$14.274.7%
+US$1.8b		10.9%PE168.9x

Latest News

ALL
US$208.85
Allstate
7D
-5.9%
1Y
1.9%
GS
US$996.47
Goldman Sachs Group
7D
1.5%
1Y
63.8%
Seeking Alpha • 15h

Goldman Sachs Becomes Top Underwriter For SpaceX IPO, Posts Historically Strong Quarter

Summary SpaceX has selected Goldman Sachs as lead underwriter for its upcoming IPO, signaling a landmark event for Wall Street. Current private valuations for SpaceX are circulating at $1.25 trillion, positioning the IPO as potentially the largest in history. Goldman Sachs' involvement underscores institutional confidence in SpaceX's capital markets appeal and scale. Anticipation is high that this offering will be truly earth-shattering, given the scale and media attention. Read the full article on Seeking Alpha
AXP
US$312.54
American Express
7D
0.9%
1Y
6.5%
Narrative Update • May 26

AXP: Affluent Spend Resilience And AI Layoff Fears Will Support Higher P/E

Analyst pricing on American Express has been trimmed modestly, with the fair value estimate moving lower by about $3 to $440.45, as analysts balance a slightly softer revenue growth and profit margin outlook against fresh Buy initiations and raised price targets that highlight confidence in the stock's broader client base and resilience to AI related job losses. Analyst Commentary Recent research has highlighted a split view on American Express, with some firms trimming price targets while others are leaning into the stock with fresh Buy calls.
COIN
US$173.78
Coinbase Global
7D
-9.2%
1Y
-31.7%
V
US$327.61
Visa
7D
-0.9%
1Y
-8.9%
Narrative Update • May 26

V: Preferred List Support Will Sustain Network Advantage Into New Partnerships

Visa's analyst fair value target has been adjusted slightly higher to about $399 as analysts factor in updated assumptions for discount rate, growth, profitability and future P/E, following a mix of recent target increases and reductions across Wall Street coverage. Analyst Commentary Recent research on Visa highlights a mix of higher and lower price targets, along with fresh initiations, which together help explain why the overall analyst fair value estimate has shifted only modestly.
PNC
US$220.80
PNC Financial Services Group
7D
1.8%
1Y
26.9%
PGR
US$196.91
Progressive
7D
-2.8%
1Y
-28.9%
Narrative Update • May 24

PGR: AI Expense Efficiencies Will Sustain Earnings Power Despite Softer Pricing

Analysts have nudged the fair value estimate for Progressive slightly lower to about $231 from roughly $232, reflecting modest reductions to long term earnings expectations after recent price target cuts tied to April's catastrophe losses and concerns about softer auto pricing power. Analyst Commentary Recent research shows a mix of optimism and caution around Progressive, with price targets being nudged both higher and lower as analysts recalibrate expectations after the April earnings miss and shifting views on auto pricing power.
BNY
US$139.74
Bank of New York Mellon
7D
1.9%
1Y
57.4%
Narrative Update • May 24

BNY: Capital Returns And Digital Collateral Push Will Support A Steady Outlook

Analysts have nudged their price target for Bank of New York Mellon Corporation slightly lower to about $142 from roughly $142 previously, reflecting modest tweaks to discount rate and revenue growth assumptions, along with a marginally higher future P/E multiple in their valuation work. What's in the News BNY plans to change its New York Stock Exchange ticker symbol to BNY from BK, effective May 21, 2026 (Key Developments).
BLK
US$1,070.34
BlackRock
7D
1.8%
1Y
10.2%
MSCI
US$603.47
MSCI
7D
3.7%
1Y
7.2%
CB
US$320.63
Chubb
7D
-2.4%
1Y
10.9%
MS
US$201.61
Morgan Stanley
7D
1.9%
1Y
58.1%
Seeking Alpha • May 22

Morgan Stanley Upgraded To Buy As Q1 Results Drive Bullish Momentum Again

Summary Morgan Stanley is upgraded to a 'Buy', driven by robust top-line growth, margin recovery, and strong competitive positioning. Morgan Stanley demonstrates proven revenue growth, positive client inflows, and benefits from M&A and resilient equity markets, supporting its diversified business model. Despite signs of overvaluation and modest 7% upside forecasts, its A-level credit ratings, strong liquidity, and low payout ratio reinforce its quality profile. Technical trends confirm a bullish pattern, with Morgan Stanley outperforming peers and the S&P 500, though fee compression in wealth management remains a risk. Read the full article on Seeking Alpha
CME
US$279.10
CME Group
7D
-3.8%
1Y
-2.4%
JPM
US$299.28
JPMorgan Chase
7D
-0.9%
1Y
13.6%
RKT
US$14.27
Rocket Companies
7D
4.7%
1Y
10.9%
SCHW
US$85.61
Charles Schwab
7D
-5.0%
1Y
-2.8%