THEME VALUATION
Financial Rails and Payments Valuation - Relative valuation snapshots for comparable companies inside a theme.
Official Theme ValuationPublished
Financial Rails and Payments Valuation
Compares relative valuation levels inside the Financial Rails and Payments theme.
Models compared
5
Companies valued
12
Median P/E (peer)
20.39
Generated: Oct 28, 2026, 04:32 AM
Data as of: 2026-09-23
Theme Valuation· 6 analyses
Relative valuation snapshots for comparable companies inside a theme.
Upside by Blended Model Fair Value
For each company the median fair value across five models is read against the current price.
- FUTU+1,380.2%
- STT+92.8%
- ICE+18.2%
- SCHW+16.8%
- DB1.XETRA+6.5%
- NDAQ-10.3%
- SPGI-16.6%
- COIN-20.6%
- MCO-36%
- CME-47.1%
- MA-51.7%
- V-58.1%
Theme Valuation Map
Each bubble is a theme: the horizontal axis is median P/E (cheapness), the vertical axis median Piotroski F-score (fundamental quality). Top-left is cheap and high quality, bottom-right is expensive and weak.
Median Piotroski F-score
Median P/E
AI Platforms and ModelsAI Chips and AcceleratorsAI Data Center InfrastructureAI Software LayerSemiconductor Value ChainDigital InfrastructureCybersecurityRobotics and AutomationDefense and Sovereign TechnologySpace and Satellite EconomyStrategic MineralsCopper and Power TransmissionBattery and Energy StorageNuclear Fuel and UraniumClean Energy EquipmentWater Scarcity and InfrastructureNext-Generation HealthcarePharmaceutical ManufacturersFinancial Rails and PaymentsDigital Commerce and MarketplacesFood SecurityAgricultural TechnologyCircular Economy and Waste
| Theme | Median P/E | Median Piotroski F-score |
|---|---|---|
| AI Platforms and Models | 18.3 | 5 |
| AI Chips and Accelerators | 63.9 | 5 |
| AI Data Center Infrastructure | 34.1 | 5 |
| AI Software Layer | 19.7 | 5 |
| Semiconductor Value Chain | 51.2 | 5 |
| Digital Infrastructure | 25.3 | 5 |
| Cybersecurity | 32 | 5 |
| Robotics and Automation | 31.4 | 5 |
| Defense and Sovereign Technology | 33.9 | 5 |
| Space and Satellite Economy | 28.6 | 5 |
| Strategic Minerals | 17.1 | 6 |
| Copper and Power Transmission | 29.6 | 5 |
| Battery and Energy Storage | 17 | 4.5 |
| Nuclear Fuel and Uranium | 36.7 | 5.5 |
| Clean Energy Equipment | 27.3 | 5 |
| Water Scarcity and Infrastructure | 22.2 | 5 |
| Next-Generation Healthcare | 30.1 | 4 |
| Pharmaceutical Manufacturers | 19.6 | 5 |
| Financial Rails and Payments | 22.1 | 6 |
| Digital Commerce and Marketplaces | 26.9 | 5 |
| Food Security | 16.7 | 5 |
| Agricultural Technology | 21.9 | 5 |
| Circular Economy and Waste | 24.4 | 5 |
Model Confidence Gauge
“Coverage” is how many companies a model could value; “Agreement” is how close the model’s fair value sits to the blended median. Higher on both means a more dependable model.
P/E (peer median)Relative
Coverage
92%
Agreement
89%
EV/EBITDA (peer median)Relative
Coverage
92%
Agreement
79%
P/S (peer median)Relative
Coverage
100%
Agreement
99%
Owner EarningsIntrinsic
Coverage
92%
Agreement
54%
FCF YieldIntrinsic
Coverage
75%
Agreement
79%
Datafin’s View
Quality in payments rarely comes cheap; the valuation view looks for reasonable entry points into structurally strong business models.
Here the search is for a fair entry into a structurally strong model, not the bargain that rarely shows up in payments.
This analysis is for informational purposes only and is not investment advice; it is a repeatable research starting point using the same rules.
How to Read the Models
The multiple models (P/E, EV/EBITDA, P/S) value each company at the theme peer-median multiple, so the fair value reflects cheap/expensive relative to peers.
The intrinsic models (Owner Earnings, FCF Yield) give an absolute reference based on cash and earnings power, independent of peers.
“Blended FV” is the median across these models; “Upside” is the gap to the current price.
Results
Latest published or live-generated results from the official Datafin analysis.
| # | Stock | Price | P/E(peer median) | EV/EBITDA(peer median) | P/S(peer median) | Owner Earnings | FCF Yield | Blended FV | Upside | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 🇺🇸 | FUTU.US Futu Holdings Ltd | $93.74 | $1,619.82 | $1,737.24 | $1,155.35 | $661.91 | - | $1,387.59 | +1,380.2% |
| 2 | 🇺🇸 | STT.US State Street Corp | $169.60 | $240.65 | $413.45 | $507.31 | $81.49 | - | $327.05 | +92.8% |
| 3 | 🇺🇸 | ICE.US Intercontinental Exchange Inc | $123.11 | $145.49 | $150.47 | $148.08 | $72.45 | $85.65 | $145.49 | +18.2% |
| 4 | 🇺🇸 | SCHW.US Charles Schwab Corp | $92.27 | $118.40 | $154.78 | $107.81 | $51.82 | $21.31 | $107.81 | +16.8% |
| 5 | 🇩🇪 | DB1.XETRA Deutsche Börse AG | €238.80 | €238.80 | €413.46 | €269.68 | €86.83 | - | €254.24 | +6.5% |
| 6 | 🇺🇸 | NDAQ.US Nasdaq Inc | $78.82 | $70.68 | $75.77 | $95.74 | $34.09 | $34.36 | $70.68 | -10.3% |
| 7 | 🇺🇸 | SPGI.US S&P Global Inc | $407.26 | $339.68 | $369.81 | $340.63 | $168.42 | $188.60 | $339.68 | -16.6% |
| 8 | 🇺🇸 | COIN.US Coinbase Global Inc | $146.19 | - | - | $131.17 | - | $101.01 | $116.09 | -20.6% |
| 9 | 🇺🇸 | MCO.US Moodys Corporation | $452.92 | $324.04 | $301.55 | $289.65 | $135.45 | $193.18 | $289.65 | -36% |
| 10 | 🇺🇸 | CME.US CME Group Inc | $220.83 | $240.51 | $220.83 | $116.74 | $103.72 | $116.30 | $116.74 | -47.1% |
| 11 | 🇺🇸 | MA.US Mastercard Inc | $513.60 | $375.46 | $352.25 | $248.07 | $156.00 | $186.27 | $248.07 | -51.7% |
| 12 | 🇺🇸 | V.US Visa Inc. Class A | $343.09 | $237.31 | $215.90 | $143.70 | $96.00 | $108.71 | $143.70 | -58.1% |
1🇺🇸
FUTU.US
Futu Holdings Ltd
- Price
- $93.74
- P/E(peer median)
- $1,619.82
- EV/EBITDA(peer median)
- $1,737.24
- P/S(peer median)
- $1,155.35
- Owner Earnings
- $661.91
- FCF Yield
- -
- Blended FV
- $1,387.59
- Upside
- +1,380.2%
2🇺🇸
STT.US
State Street Corp
- Price
- $169.60
- P/E(peer median)
- $240.65
- EV/EBITDA(peer median)
- $413.45
- P/S(peer median)
- $507.31
- Owner Earnings
- $81.49
- FCF Yield
- -
- Blended FV
- $327.05
- Upside
- +92.8%
3🇺🇸
ICE.US
Intercontinental Exchange Inc
- Price
- $123.11
- P/E(peer median)
- $145.49
- EV/EBITDA(peer median)
- $150.47
- P/S(peer median)
- $148.08
- Owner Earnings
- $72.45
- FCF Yield
- $85.65
- Blended FV
- $145.49
- Upside
- +18.2%
4🇺🇸
SCHW.US
Charles Schwab Corp
- Price
- $92.27
- P/E(peer median)
- $118.40
- EV/EBITDA(peer median)
- $154.78
- P/S(peer median)
- $107.81
- Owner Earnings
- $51.82
- FCF Yield
- $21.31
- Blended FV
- $107.81
- Upside
- +16.8%
5🇩🇪
DB1.XETRA
Deutsche Börse AG
- Price
- €238.80
- P/E(peer median)
- €238.80
- EV/EBITDA(peer median)
- €413.46
- P/S(peer median)
- €269.68
- Owner Earnings
- €86.83
- FCF Yield
- -
- Blended FV
- €254.24
- Upside
- +6.5%
6🇺🇸
NDAQ.US
Nasdaq Inc
- Price
- $78.82
- P/E(peer median)
- $70.68
- EV/EBITDA(peer median)
- $75.77
- P/S(peer median)
- $95.74
- Owner Earnings
- $34.09
- FCF Yield
- $34.36
- Blended FV
- $70.68
- Upside
- -10.3%
7🇺🇸
SPGI.US
S&P Global Inc
- Price
- $407.26
- P/E(peer median)
- $339.68
- EV/EBITDA(peer median)
- $369.81
- P/S(peer median)
- $340.63
- Owner Earnings
- $168.42
- FCF Yield
- $188.60
- Blended FV
- $339.68
- Upside
- -16.6%
8🇺🇸
COIN.US
Coinbase Global Inc
- Price
- $146.19
- P/E(peer median)
- -
- EV/EBITDA(peer median)
- -
- P/S(peer median)
- $131.17
- Owner Earnings
- -
- FCF Yield
- $101.01
- Blended FV
- $116.09
- Upside
- -20.6%
9🇺🇸
MCO.US
Moodys Corporation
- Price
- $452.92
- P/E(peer median)
- $324.04
- EV/EBITDA(peer median)
- $301.55
- P/S(peer median)
- $289.65
- Owner Earnings
- $135.45
- FCF Yield
- $193.18
- Blended FV
- $289.65
- Upside
- -36%
10🇺🇸
CME.US
CME Group Inc
- Price
- $220.83
- P/E(peer median)
- $240.51
- EV/EBITDA(peer median)
- $220.83
- P/S(peer median)
- $116.74
- Owner Earnings
- $103.72
- FCF Yield
- $116.30
- Blended FV
- $116.74
- Upside
- -47.1%
11🇺🇸
MA.US
Mastercard Inc
- Price
- $513.60
- P/E(peer median)
- $375.46
- EV/EBITDA(peer median)
- $352.25
- P/S(peer median)
- $248.07
- Owner Earnings
- $156.00
- FCF Yield
- $186.27
- Blended FV
- $248.07
- Upside
- -51.7%
12🇺🇸
V.US
Visa Inc. Class A
- Price
- $343.09
- P/E(peer median)
- $237.31
- EV/EBITDA(peer median)
- $215.90
- P/S(peer median)
- $143.70
- Owner Earnings
- $96.00
- FCF Yield
- $108.71
- Blended FV
- $143.70
- Upside
- -58.1%
Methodology
P/E (peer median)Values the company at the theme-median price/earnings multiple.
EV/EBITDA (peer median)Values the company at the theme-median EV/EBITDA multiple, net of debt.
P/S (peer median)Values the company at the theme-median price/sales multiple.
Owner EarningsBuffett owner-earnings: net income + depreciation − capex, capitalised.
FCF YieldCapitalises free cash flow per share at a target yield.
Last 5 Updates
Oct 28, 2026, 04:32 AM12 companies
List unchanged (refreshed).
Oct 17, 2026, 04:32 AM12 companies
List unchanged (refreshed).
Oct 5, 2026, 04:32 AM12 companies
List unchanged (refreshed).
Sep 24, 2026, 04:32 AM12 companies
List unchanged (refreshed).
Sep 13, 2026, 04:32 AM12 companies
List unchanged (refreshed).