Sector analysis · US
Financials: which companies drove growth
The 20 largest Financials companies by market cap at the end of Q2 2025 (30 Jun 2025), compared with Q2 2024.
The top 20 at Q2 2025
Q2 2025 vs Q2 2024: combined net profit $73.1B (−20%), median EPS +14% (15 of 20 up), market-cap-weighted price +29%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Berkshire Hathaway Inc. | 17.8% | 14.08 → 5.73 | −59% | −19.6 pp | +19% |
| 2 | JPMorgan Chase & Co. | 13.8% | 6.12 → 5.24 | −14% | −3.4 pp | +43% |
| 3 | Visa Inc. | 11.6% | 2.40 → 2.69 | +12% | +0.4 pp | +33% |
| 4 | Mastercard Incorporated | 8.6% | 3.50 → 4.07 | +16% | +0.5 pp | +27% |
| 5 | Bank of America Corporation | 6.0% | 0.83 → 0.89 | +7% | +0.2 pp | +17% |
| 6 | Wells Fargo & Company | 4.3% | 1.33 → 1.60 | +20% | +0.6 pp | +33% |
| 7 | Morgan Stanley | 3.8% | 1.82 → 2.13 | +17% | +0.5 pp | +44% |
| 8 | American Express Company | 3.8% | 4.15 → 4.08 | −2% | −0.1 pp | +37% |
| 9 | The Goldman Sachs Group, Inc. | 3.7% | 8.62 → 10.95 | +27% | +0.7 pp | +55% |
| 10 | Blackstone Inc. | 3.1% | 0.58 → 0.98 | +69% | +0.3 pp | +21% |
| 11 | The Charles Schwab Corporation | 2.8% | 0.66 → 1.08 | +64% | +0.9 pp | +23% |
| 12 | BlackRock, Inc. | 2.8% | 9.99 → 10.19 | +2% | +0.1 pp | +33% |
| 13 | S&P Global Inc. | 2.7% | 3.23 → 3.50 | +8% | +0.1 pp | +18% |
| 14 | The Progressive Corporation | 2.7% | 2.48 → 5.40 | +118% | +1.9 pp | +29% |
| 15 | Citigroup Inc. | 2.6% | 1.52 → 1.96 | +29% | +0.9 pp | +32% |
| 16 | Capital One Financial Corporation | 2.3% | 1.38 → −8.58 | to loss | −5.3 pp | +95% |
| 17 | KKR & Co. Inc. | 2.0% | 0.72 → 0.50 | −31% | −0.2 pp | +24% |
| 18 | Chubb Limited | 2.0% | 5.46 → 7.35 | +35% | +0.8 pp | +15% |
| 19 | Marsh & McLennan Companies, Inc. | 1.8% | 2.27 → 2.45 | +8% | +0.1 pp | +4% |
| 20 | Intercontinental Exchange, Inc. | 1.8% | 1.10 → 1.48 | +35% | +0.2 pp | +34% |
| Sector earnings growth | 100% | −20.4 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q1 2025, as market caps moved.
Joined the top 20 since Q1 2025
Left the top 20 since Q1 2025
- CME Group Inc.
EPS growth by company, Q3 2023 to Q2 2026
Each company's EPS growth year on year, 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 | loss, bigger | +110% | −64% | −15% | turned profitable | −47% | −64% | −59% | +17% | −3% | +120% | +108% |
| JPM | +39% | −15% | +8% | +29% | +1% | +58% | +14% | −14% | +16% | −4% | +17% | +44% |
| V | +22% | +20% | +13% | +20% | +17% | +8% | +1% | +12% | −1% | +17% | +35% | +10% |
| MA | +31% | +13% | +30% | +17% | +4% | +23% | +11% | +16% | +23% | +24% | +21% | +22% |
| BAC | +11% | −59% | −19% | −6% | −10% | +134% | +18% | +7% | +31% | +18% | +23% | +35% |
| WFC | +74% | +28% | −2% | +6% | −4% | +66% | +16% | +20% | +17% | +17% | +15% | +25% |
| MS | −6% | −33% | +19% | +47% | +36% | +161% | +29% | +17% | +49% | +20% | +31% | +60% |
| AXP | +34% | +27% | +39% | +44% | +6% | +16% | +9% | −2% | +19% | +16% | +18% | +12% |
| GS | −34% | +67% | +32% | +180% | +54% | +116% | +22% | +27% | +46% | +17% | +24% | +92% |
| BX | +23,448% | −73% | +909% | −27% | +40% | +360% | −28% | +69% | −22% | +41% | +4% | +60% |
| SCHW | −43% | −47% | −18% | +3% | +27% | +84% | +46% | +64% | +77% | +41% | +38% | +43% |
| BLK | +16% | +10% | +37% | +10% | +2% | +16% | −8% | +2% | −23% | −33% | +46% | +20% |
| SPGI | +27% | +38% | +28% | +102% | +34% | +56% | +12% | +8% | +24% | +32% | +32% | +18% |
| PGR | +800% | +141% | +425% | +335% | +110% | +19% | +11% | +118% | +12% | +25% | +10% | +5% |
| C | 0% | to loss | −28% | +14% | −7% | turned profitable | +24% | +29% | +23% | −11% | +56% | +61% |
| COF | outside | outside | outside | outside | outside | outside | outside | to loss | +10% | +22% | −3% | turned profitable |
| KKR | outside | +1,114% | +106% | −23% | −61% | +4% | to loss | −31% | +41% | −2% | outside | outside |
| CB | +162% | +157% | +15% | +26% | +15% | −21% | −37% | +35% | +23% | +28% | +79% | +1% |
| MRSH | +34% | +63% | +14% | +10% | +3% | +5% | −1% | +8% | outside | outside | outside | outside |
| ICE | outside | −14% | +14% | −23% | +19% | outside | +4% | +35% | outside | outside | +80% | outside |