Sector analysis · US
Financials: which companies drove growth
The 20 largest Financials companies by market cap at the end of Q4 2025 (31 Dec 2025), compared with Q4 2024.
The top 20 at Q4 2025
Q4 2025 vs Q4 2024: combined net profit $85.0B (+6%), median EPS +18% (14 of 20 up), market-cap-weighted price +17%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Berkshire Hathaway Inc. | 17.3% | 9.13 → 8.90 | −3% | −0.6 pp | +11% |
| 2 | JPMorgan Chase & Co. | 14.3% | 4.81 → 4.63 | −4% | −1.2 pp | +35% |
| 3 | Visa Inc. | 10.7% | 2.58 → 3.03 | +17% | +0.9 pp | +12% |
| 4 | Mastercard Incorporated | 8.1% | 3.64 → 4.52 | +24% | +0.9 pp | +8% |
| 5 | Bank of America Corporation | 6.4% | 0.82 → 0.97 | +18% | +1.1 pp | +23% |
| 6 | Wells Fargo & Company | 4.7% | 1.43 → 1.67 | +17% | +0.4 pp | +34% |
| 7 | Morgan Stanley | 4.4% | 2.22 → 2.67 | +20% | +0.9 pp | +41% |
| 8 | The Goldman Sachs Group, Inc. | 4.3% | 11.95 → 14.00 | +17% | +0.6 pp | +50% |
| 9 | American Express Company | 4.0% | 3.04 → 3.53 | +16% | +0.4 pp | +25% |
| 10 | Citigroup Inc. | 3.2% | 1.34 → 1.19 | −11% | −0.5 pp | +59% |
| 11 | Blackstone Inc. | 3.0% | 0.92 → 1.30 | +41% | +0.4 pp | −11% |
| 12 | The Charles Schwab Corporation | 2.8% | 0.94 → 1.33 | +41% | +0.8 pp | +34% |
| 13 | BlackRock, Inc. | 2.6% | 10.64 → 7.16 | −33% | −0.7 pp | −1% |
| 14 | S&P Global Inc. | 2.5% | 2.85 → 3.75 | +32% | +0.3 pp | +5% |
| 15 | Capital One Financial Corporation | 2.4% | 2.67 → 3.26 | +22% | +1.3 pp | +34% |
| 16 | The Progressive Corporation | 2.1% | 4.01 → 5.02 | +25% | +0.7 pp | −5% |
| 17 | Chubb Limited | 2.0% | 6.33 → 8.10 | +28% | +0.8 pp | +20% |
| 18 | KKR & Co. Inc. | 1.8% | 1.18 → 1.16 | −2% | 0.0 pp | −13% |
| 19 | Interactive Brokers Group, Inc. | 1.8% | 0.50 → 0.63 | +26% | +0.1 pp | +47% |
| 20 | Robinhood Markets, Inc. | 1.6% | 1.01 → 0.66 | −35% | −0.4 pp | — |
| Sector earnings growth | 100% | +6.1 pp |
Who joined and who left
0 joined and 0 left the top 20 since Q3 2025, as market caps moved.
Joined the top 20 since Q3 2025
Left the top 20 since Q3 2025
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% |
| GS | −34% | +67% | +32% | +180% | +54% | +116% | +22% | +27% | +46% | +17% | +24% | +92% |
| AXP | +34% | +27% | +39% | +44% | +6% | +16% | +9% | −2% | +19% | +16% | +18% | +12% |
| C | 0% | to loss | −28% | +14% | −7% | turned profitable | +24% | +29% | +23% | −11% | +56% | +61% |
| 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% |
| COF | outside | outside | outside | outside | outside | outside | outside | to loss | +10% | +22% | −3% | turned profitable |
| PGR | +800% | +141% | +425% | +335% | +110% | +19% | +11% | +118% | +12% | +25% | +10% | +5% |
| CB | +162% | +157% | +15% | +26% | +15% | −21% | −37% | +35% | +23% | +28% | +79% | +1% |
| KKR | outside | +1,114% | +106% | −23% | −61% | +4% | to loss | −31% | +41% | −2% | outside | outside |
| IBKR | outside | outside | outside | outside | outside | outside | outside | outside | +40% | +26% | +20% | +35% |
| HOOD | outside | outside | outside | outside | outside | outside | outside | outside | +268% | −35% | outside | outside |