Sector analysis · US
Financials: which companies drove growth
The 20 largest Financials companies by market cap at the end of Q1 2026 (31 Mar 2026), compared with Q4 2025.
The top 20 at Q1 2026
Q1 2026 vs Q4 2025: combined net profit $87.3B (+2%), median EPS +3% (12 of 20 up), market-cap-weighted price −10%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Berkshire Hathaway Inc. | 18.3% | 8.90 → 4.68 | −47% | −10.7 pp | −5% |
| 2 | JPMorgan Chase & Co. | 14.5% | 4.63 → 5.94 | +28% | +4.1 pp | −9% |
| 3 | Visa Inc. | 10.2% | 3.03 → 3.14 | +4% | +0.2 pp | −14% |
| 4 | Mastercard Incorporated | 7.9% | 4.52 → 4.35 | −4% one source | −0.2 pp | −12% |
| 5 | Bank of America Corporation | 6.3% | 0.97 → 1.11 | +14% | +1.2 pp | −10% |
| 6 | Morgan Stanley | 4.6% | 2.67 → 3.40 | +27% | +1.5 pp | −7% |
| 7 | The Goldman Sachs Group, Inc. | 4.5% | 14.00 → 17.55 | +25% | +1.2 pp | −1% |
| 8 | Wells Fargo & Company | 4.5% | 1.67 → 1.60 | −4% | −0.1 pp | −15% |
| 9 | American Express Company | 3.7% | 3.53 → 4.28 | +21% | +0.6 pp | −18% |
| 10 | Citigroup Inc. | 3.5% | 1.19 → 3.06 | +157% one source | +3.9 pp | +2% |
| 11 | The Charles Schwab Corporation | 2.9% | 1.33 → 1.37 | +3% | 0.0 pp | −5% |
| 12 | BlackRock, Inc. | 2.6% | 7.16 → 14.06 | +96% | +1.3 pp | −10% |
| 13 | Blackstone Inc. | 2.4% | 1.30 → 0.83 | −36% | −0.4 pp | −26% |
| 14 | Chubb Limited | 2.3% | 8.10 → 5.88 | −27% | −1.0 pp | +5% |
| 15 | S&P Global Inc. | 2.2% | 3.75 → 4.69 | +25% | +0.3 pp | −17% |
| 16 | The Progressive Corporation | 2.1% | 5.02 → 4.80 | −4% | −0.2 pp | −13% |
| 17 | Interactive Brokers Group, Inc. | 2.1% | 0.63 → 0.59 | −6% one source | 0.0 pp | +4% |
| 18 | Capital One Financial Corporation | 2.0% | 3.26 → 3.34 | +2% | 0.0 pp | −24% |
| 19 | CME Group Inc. | 1.9% | 3.24 → 3.18 | −2% one source | 0.0 pp | +7% |
| 20 | Intercontinental Exchange, Inc. | 1.6% | 1.49 → 2.48 | +66% | +0.7 pp | −3% |
| Sector earnings growth | 100% | +2.3 pp |
Who joined and who left
2 joined and 2 left the top 20 since Q4 2025, as market caps moved.
Joined the top 20 since Q4 2025
Left the top 20 since Q4 2025
- KKR & Co. Inc.
- Robinhood Markets, Inc.
EPS growth by company, Q3 2023 to Q2 2026
Each company's EPS growth quarter on quarter, every quarter it was in the top 20.
| Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BRK-B | to loss | turned profitable | −66% | +139% | −13% | −25% | −77% | +169% | +149% | −38% | −47% | +154% |
| JPM | −9% | −30% | +46% | +38% | −29% | +10% | +5% | +3% | −3% | −9% | +28% | +27% |
| V | +14% | +5% | −4% | +5% | +10% | −3% | −10% | +16% | −3% | +16% | +4% | −5% |
| MA | +13% | −12% | +8% | +9% | +1% | +3% | −1% | +13% | +7% | +4% | −4% | +14% |
| BAC | +2% | −61% | +117% | +9% | −2% | +1% | +10% | −1% | +19% | −8% | +14% | +8% |
| MS | +11% | −38% | +138% | −10% | +3% | +18% | +17% | −18% | +31% | −5% | +27% | 0% |
| GS | +78% | +1% | +109% | −26% | −3% | +42% | +18% | −22% | +12% | +14% | +25% | +20% |
| WFC | +18% | −42% | +40% | +11% | +7% | +1% | −3% | +15% | +4% | +1% | −4% | +25% |
| AXP | +14% | −21% | +27% | +25% | −16% | −13% | +20% | +12% | +1% | −15% | +21% | +7% |
| C | +23% | to loss | turned profitable | −4% | −1% | −11% | +46% | 0% | −5% | −36% | +157% | +3% |
| SCHW | −12% | −9% | +33% | −3% | +8% | +32% | +5% | +9% | +17% | +6% | +3% | +12% |
| BLK | +18% | −14% | +15% | −5% | +9% | −2% | −9% | +6% | −17% | −15% | +96% | −13% |
| BX | −8% | −73% | +455% | −48% | +76% | −10% | −13% | +22% | −18% | +63% | −36% | +89% |
| CB | +15% | +62% | −35% | +4% | +4% | +11% | −48% | +123% | −5% | +16% | −27% | +26% |
| SPGI | +46% | −21% | +73% | +2% | −3% | −9% | +24% | −1% | +10% | −3% | +25% | −12% |
| PGR | +232% | +78% | +17% | −37% | +60% | +1% | +9% | +24% | −18% | +13% | −4% | +18% |
| IBKR | outside | outside | outside | outside | outside | outside | outside | outside | +16% | +7% | −6% | +17% |
| COF | outside | outside | outside | outside | outside | outside | outside | to loss | turned profitable | −33% | +2% | +42% |
| CME | −4% | +9% | +5% | outside | outside | outside | +9% | outside | outside | outside | −2% | outside |
| ICE | outside | −32% | +105% | −17% | +4% | outside | +14% | +7% | outside | outside | +66% | outside |