Intermediate Capital Group plc's (LON:ICP) Share Price Not Quite Adding Up
Apr 08
U.K. (FTSE) Capital Markets Industry Analysis
UpdatedMay 08, 2024
DataAggregated Company Financials
Companies174
- 7D3.4%
- 3M8.9%
- 1Y10.7%
- YTD6.2%
In the last week, the Capital Markets industry is up 3.4%, with London Stock Exchange Group up 5.3%. Meanwhile, Georgia Capital actually underperformed within the industry, shrinking 14% in the last week. In the last 12 months, the industry was up 11%. Looking forward, earnings are forecast to grow by 16% annually.
Industry Valuation and Performance
Has the U.K. Capital Markets Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 09 May 2024 | UK£143.4b | UK£53.9b | UK£8.8b | 16.3x | 16.3x | 2.7x |
| Sat, 06 Apr 2024 | UK£138.9b | UK£53.8b | UK£8.7b | 15.5x | 16x | 2.6x |
| Mon, 04 Mar 2024 | UK£132.2b | UK£54.1b | UK£8.5b | 15x | 15.5x | 2.4x |
| Wed, 31 Jan 2024 | UK£138.6b | UK£48.6b | UK£8.7b | 14.8x | 15.9x | 2.9x |
| Fri, 29 Dec 2023 | UK£141.1b | UK£48.6b | UK£8.8b | 15.3x | 16.1x | 2.9x |
| Sun, 26 Nov 2023 | UK£132.0b | UK£48.6b | UK£8.8b | 13.9x | 15x | 2.7x |
| Tue, 24 Oct 2023 | UK£123.3b | UK£48.7b | UK£8.8b | 12.4x | 14x | 2.5x |
| Thu, 21 Sep 2023 | UK£128.9b | UK£48.8b | UK£8.9b | 13.4x | 14.4x | 2.6x |
| Sat, 19 Aug 2023 | UK£122.6b | UK£48.7b | UK£8.9b | 13.7x | 13.7x | 2.5x |
| Mon, 17 Jul 2023 | UK£121.2b | UK£33.2b | UK£8.8b | 13.8x | 13.8x | 3.7x |
| Wed, 14 Jun 2023 | UK£132.2b | UK£30.3b | UK£8.9b | 14.6x | 14.8x | 4.4x |
| Fri, 12 May 2023 | UK£128.5b | UK£29.6b | UK£8.2b | 14.6x | 15.7x | 4.3x |
| Sun, 09 Apr 2023 | UK£123.5b | UK£29.5b | UK£8.2b | 14.6x | 15.1x | 4.2x |
| Tue, 07 Mar 2023 | UK£128.3b | UK£30.1b | UK£8.6b | 14.8x | 14.9x | 4.3x |
| Thu, 02 Feb 2023 | UK£126.0b | UK£30.2b | UK£9.9b | 14.6x | 12.8x | 4.2x |
| Sat, 31 Dec 2022 | UK£118.2b | UK£30.1b | UK£9.9b | 13.6x | 12x | 3.9x |
| Mon, 28 Nov 2022 | UK£121.0b | UK£30.4b | UK£10.0b | 13.3x | 12.1x | 4x |
| Wed, 26 Oct 2022 | UK£110.3b | UK£31.5b | UK£11.4b | 11.3x | 9.7x | 3.5x |
| Fri, 23 Sep 2022 | UK£112.4b | UK£31.5b | UK£11.4b | 10.7x | 9.8x | 3.6x |
| Sun, 21 Aug 2022 | UK£125.7b | UK£31.3b | UK£11.5b | 10.2x | 10.9x | 4x |
| Tue, 19 Jul 2022 | UK£128.6b | UK£55.0b | UK£13.6b | 9.1x | 9.5x | 2.3x |
| Thu, 16 Jun 2022 | UK£127.2b | UK£54.7b | UK£13.4b | 9.1x | 9.5x | 2.3x |
| Sat, 14 May 2022 | UK£133.3b | UK£54.2b | UK£13.0b | 9.5x | 10.3x | 2.5x |
| Mon, 11 Apr 2022 | UK£149.3b | UK£52.5b | UK£11.6b | 10x | 12.9x | 2.8x |
| Wed, 09 Mar 2022 | UK£130.9b | UK£55.5b | UK£11.4b | 9.5x | 11.5x | 2.4x |
| Fri, 04 Feb 2022 | UK£145.7b | UK£60.0b | UK£12.2b | 10.9x | 12x | 2.4x |
| Sun, 02 Jan 2022 | UK£152.4b | UK£59.8b | UK£12.2b | 11.3x | 12.5x | 2.5x |
| Tue, 30 Nov 2021 | UK£148.2b | UK£59.6b | UK£12.1b | 12.4x | 12.3x | 2.5x |
| Thu, 28 Oct 2021 | UK£153.3b | UK£58.5b | UK£11.0b | 13.3x | 13.9x | 2.6x |
| Sat, 25 Sep 2021 | UK£150.2b | UK£58.3b | UK£10.7b | 13.6x | 14.1x | 2.6x |
| Mon, 23 Aug 2021 | UK£155.8b | UK£58.6b | UK£10.9b | 14.5x | 14.3x | 2.7x |
| Sat, 10 Jul 2021 | UK£145.7b | UK£58.5b | UK£10.9b | 13.9x | 13.4x | 2.5x |
Price to Earnings Ratio
14.9x
Current Industry PE
- Investors are optimistic on the British Capital Markets industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 16.3x which is higher than its 3-year average PE of 14.0x.
- The 3-year average PS ratio of 3.3x is higher than the industry's current PS ratio of 2.7x.
Past Earnings Growth
- The earnings for companies in the Capital Markets industry have declined 3.0% per year over the last three years.
- Meanwhile revenues for these companies have grown 4.6% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the U.K. Financials industry?
| GB Market | 1.96% | |
| Financials | 3.00% | |
| Capital Markets | 3.35% | |
| Financial Exchanges and Data | 5.12% | |
| Investment Banking and Brokerage | 3.52% | |
| Asset Management | 2.30% | |
| Diversified Capital Markets | 0% | |
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 72.2x.
- Analysts are expecting annual earnings growth of 20.3%, which is higher than its past year's earnings growth of 11.1% per year.
- Investors are most pessimistic about the Asset Management industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 9.5x.
Forecasted Growth
- Analysts are most optimistic on the Financial Exchanges and Data industry, expecting annual earnings growth of 20% over the next 5 years.
- This is better than its past earnings growth rate of 11% per year.
- In contrast, the Asset Management industry is expected to see its earnings grow by 13% 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 | |
|---|---|---|---|---|---|
| LSEG London Stock Exchange Group | UK£91.80 | 3.8% +UK£1.3b | 8.5% | PE63.9x | |
| III 3i Group | UK£29.74 | 4.5% +UK£1.2b | 70.3% | PE6.4x | |
| SDR Schroders | UK£3.66 | 5.0% +UK£274.3m | -21.6% | PE14.9x | |
| ICG Intermediate Capital Group | UK£21.46 | 3.2% +UK£189.1m | 70.3% | PE15x | |
| STJ St. James's Place | UK£4.65 | 7.2% +UK£171.2m | -58.5% | PS0.1x |