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U.K. (FTSE) Energy Sector Analysis

UpdatedJan 13, 2026
DataAggregated Company Financials
Companies70
  • 7D-1.8%
  • 3M0.6%
  • 1Y1.7%
  • YTD-2.2%

Over the last 7 days, the Energy industry has dropped 1.8%, driven by Shell declining 2.8%. On the other hand National Atomic Company Kazatomprom JSC is actually up 7.9%. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to grow by 12% annually.

Sector Valuation and Performance

Has the U.K. Energy Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 13 Jan 2026UK£232.8bUK£358.0bUK£10.4b9.5x22.4x0.7x
Thu, 11 Dec 2025UK£238.8bUK£361.5bUK£10.5b9.2x22.8x0.7x
Sat, 08 Nov 2025UK£252.0bUK£367.1bUK£10.5b10.5x24.1x0.7x
Mon, 06 Oct 2025UK£238.3bUK£355.9bUK£10.0b12.6x23.8x0.7x
Wed, 03 Sep 2025UK£243.0bUK£361.5bUK£11.2b11.1x21.7x0.7x
Fri, 01 Aug 2025UK£237.1bUK£370.7bUK£10.2b10.3x23.1x0.6x
Sun, 29 Jun 2025UK£226.3bUK£358.1bUK£8.3b9.1x27.4x0.6x
Tue, 27 May 2025UK£213.9bUK£362.7bUK£8.3b9.2x25.8x0.6x
Thu, 24 Apr 2025UK£216.6bUK£373.2bUK£11.8b8.5x18.4x0.6x
Sat, 22 Mar 2025UK£253.0bUK£383.2bUK£11.9b9.8x21.2x0.7x
Mon, 17 Feb 2025UK£252.6bUK£391.2bUK£12.8b9.5x19.7x0.6x
Wed, 15 Jan 2025UK£248.4bUK£419.8bUK£14.8b7.9x16.8x0.6x
Fri, 13 Dec 2024UK£232.7bUK£402.5bUK£14.2b8.4x16.4x0.6x
Sun, 10 Nov 2024UK£232.6bUK£396.5bUK£14.4b7.7x16.2x0.6x
Tue, 08 Oct 2024UK£247.5bUK£400.1bUK£19.9b8.8x12.5x0.6x
Thu, 05 Sep 2024UK£245.8bUK£398.4bUK£19.7b10.5x12.5x0.6x
Sat, 03 Aug 2024UK£261.0bUK£409.3bUK£21.3b12.1x12.3x0.6x
Mon, 01 Jul 2024UK£271.3bUK£415.4bUK£22.1b9.9x12.3x0.7x
Wed, 29 May 2024UK£271.2bUK£411.6bUK£22.1b10.5x12.3x0.7x
Fri, 26 Apr 2024UK£285.5bUK£437.5bUK£28.5b7.9x10x0.7x
Sun, 24 Mar 2024UK£264.6bUK£435.3bUK£27.3b7.5x9.7x0.6x
Tue, 20 Feb 2024UK£254.1bUK£436.3bUK£26.4b6.6x9.6x0.6x
Thu, 18 Jan 2024UK£264.8bUK£621.2bUK£62.4b4.1x4.2x0.4x
Sat, 16 Dec 2023UK£274.0bUK£621.6bUK£62.5b4.8x4.4x0.4x
Mon, 13 Nov 2023UK£287.7bUK£638.6bUK£63.8b4.6x4.5x0.5x
Wed, 11 Oct 2023UK£300.6bUK£653.3bUK£57.7b5.4x5.2x0.5x
Fri, 08 Sep 2023UK£289.4bUK£645.5bUK£57.3b4.8x5x0.4x
Sun, 06 Aug 2023UK£289.4bUK£636.9bUK£57.4b4.6x5x0.5x
Tue, 04 Jul 2023UK£275.7bUK£673.9bUK£75.4b4.1x3.7x0.4x
Thu, 01 Jun 2023UK£261.9bUK£685.8bUK£77.1b4.4x3.4x0.4x
Sat, 29 Apr 2023UK£298.4bUK£670.7bUK£53.2b5x5.6x0.4x
Mon, 27 Mar 2023UK£273.8bUK£685.9bUK£55.8b4.3x4.9x0.4x
Wed, 22 Feb 2023UK£306.6bUK£685.9bUK£56.2b3.9x5.5x0.4x
Fri, 20 Jan 2023UK£306.8bUK£648.4bUK£49.9b4.6x6.1x0.5x
Price to Earnings Ratio

6.1x


Total Market Cap: UK£306.8bTotal Earnings: UK£49.9bTotal Revenue: UK£648.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Energy Sector Price to Earnings3Y Average 14.7x202420252026
Current Industry PE
  • Investors are optimistic on the British Energy industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 22.4x which is higher than its 3-year average PE of 14.7x.
  • The industry is trading close to its 3-year average PS ratio of 0.61x.
Past Earnings Growth
  • The earnings for companies in the Energy industry have declined 41% per year over the last three years,
  • Revenues have also declined 18% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the U.K. Energy sector?

GB Market1.48%
Energy-1.76%
Energy Services3.70%
Oil and Gas-1.78%
Industry PE
  • Investors are most optimistic about the Oil and Gas industry which is trading above its 3-year average PE ratio of 14.1x.
    • Analysts are expecting annual earnings growth of 12.2%, which is higher than its past year's earnings decline of 9.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Energy Services industry, expecting annual earnings growth of 48% over the next 5 years.
  • This is better than its past earnings decline of 13% per year.
  • In contrast, the Oil and Gas industry is expected to see its earnings grow by 12% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
KAP National Atomic Company Kazatomprom JSCUS$64.507.9%
+US$1.2b		75.3%PE12.2x
SEPL Seplat EnergyUK£2.954.8%
+UK£81.0m		43.7%PE11.5x
ITH Ithaca EnergyUK£1.623.0%
+UK£79.1m		20.9%PS1.2x
ENOG EnergeanUK£9.233.8%
+UK£61.7m		-10.1%PE16.6x
YCA Yellow CakeUK£6.264.0%
+UK£57.6m		21.8%PS372.7x

Latest News

SEPL
UK£2.95
Seplat Energy
7D
4.8%
1Y
43.7%

SEPL: Heirs Stake Purchase Will Drive Re-Rating Case For Shares

Narrative Update on Seplat Energy The analyst price target for Seplat Energy has been revised higher, with fair value now implied at about $5.50 per share versus $4.65 previously, as analysts adjust their assumptions for discount rate, revenue growth, profit margin and future P/E in their models. What's in the News Heirs Energies agreed to acquire a 20.07% stake in Seplat Energy from Etablissements Maurel & Prom for approximately US$490m, at a cash consideration of US$4.11 per share (£3.05 per share), with an additional US$10m contingent payment linked to share price performance over six months (M&A Transaction Announcements).
ITH
UK£1.62
Ithaca Energy
7D
3.0%
1Y
20.9%

ITH: Premium Rating Will Rely On Execution Under Tougher U.K. Tax Regime

Analysts have trimmed their fair value estimate for Ithaca Energy to about £1.85 per share from roughly £1.93, citing the recent downgrade to Sell, the premium valuation in a tougher U.K. tax regime, relatively lower cash returns versus peers, and limited gas hedging from 2027. Analyst Commentary Recent research has put a spotlight on how Ithaca Energy is priced versus its risk profile, especially under the current U.K. tax regime and its evolving hedging strategy.
SHEL
UK£26.62
Shell
7D
-2.8%
1Y
-0.06%

SHEL: Future Returns Will Reflect Resilient Cash Flow And Shareholder Distributions

Our updated view on Shell reflects a small trim in fair value to €31.03 from €31.31, as analysts balance slightly softer growth and margin assumptions with higher price targets associated with resilient cash generation, tighter refining conditions, and a more disciplined focus on costs and shareholder returns. Analyst Commentary Street research on Shell is mixed, with several price target increases reflecting confidence in execution and cash generation, while a few more cautious voices highlight valuation and medium term growth constraints.
SQZ
UK£1.90
Serica Energy
7D
6.5%
1Y
22.7%

SQZ: Expanded North Sea Resources And Production Will Support Stronger Medium-Term Cash Flows

Analysts have nudged their price target on Serica Energy slightly higher to reflect an updated fair value estimate in line with revised assumptions on revenue growth, profit margins and future P/E multiples. What's in the News Reported third quarter 2025 production of 27,500 boe per day, with average net production of 25,700 boe per day for the first nine months of 2025 (company announcement of operating results).
BP.
UK£4.27
BP
7D
-2.0%
1Y
-1.1%

BP.: Future Returns Will Reflect Portfolio Reset Divestments And Leadership Transition

Analysts have trimmed their overall price expectations for BP, reflected in a slightly lower fair value estimate and a modestly higher future P/E assumption. Recent target cuts and rating changes are balancing more upbeat views that reference an unchanged or higher price target across both US$ and £ share lines.
KAP
US$64.50
National Atomic Company Kazatomprom JSC
7D
7.9%
1Y
75.3%

KAP: Higher Revenue Guidance And Japanese Supply Deal Will Support Steady Outlook

Analysts have nudged their fair value estimate for National Atomic Company Kazatomprom JSC higher to $64.39 from $62.37, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E levels. What's in the News Kazatomprom and Kansai Electric agreed on uranium supply for Japanese nuclear power plants, supporting a long term supply chain for Japan's gradually restarting nuclear fleet and reinforcing Kazatomprom's role as a key partner for Japanese utilities (Client Announcements).
GENL
UK£0.56
Genel Energy
7D
-5.3%
1Y
-11.3%
INDI
UK£0.016
Indus Gas
7D
-44.6%
1Y
-80.4%

Capital Allocation Trends At Indus Gas (LON:INDI) Aren't Ideal

Jan 02
Capital Allocation Trends At Indus Gas (LON:INDI) Aren't Ideal
GMS
UK£0.21
Gulf Marine Services
7D
11.1%
1Y
40.5%

Market Still Lacking Some Conviction On Gulf Marine Services PLC (LON:GMS)

Dec 24
Market Still Lacking Some Conviction On Gulf Marine Services PLC (LON:GMS)
NEO
UK£0.0073
Neo Energy Metals
7D
-26.8%
1Y
-6.5%
YCA
UK£6.26
Yellow Cake
7D
4.0%
1Y
21.8%
CASP
UK£0.026
Caspian Sunrise
7D
-8.6%
1Y
-8.6%

Caspian Sunrise (LON:CASP) Takes On Some Risk With Its Use Of Debt

Dec 05
Caspian Sunrise (LON:CASP) Takes On Some Risk With Its Use Of Debt
ENOG
UK£9.23
Energean
7D
3.8%
1Y
-10.1%

ENOG: Output Recovery And Margin Improvement Will Offset Production Disruptions

Analysts have slightly reduced their price target for Energean from $9.85 to $9.81. This adjustment reflects expectations for higher revenue growth and improved profit margins, partially offset by a modestly higher discount rate and lower future price-to-earnings estimates.
QED
UK£0.027
Quadrise
7D
-9.4%
1Y
-53.9%

Companies Like Quadrise (LON:QED) Are In A Position To Invest In Growth

Nov 19
Companies Like Quadrise (LON:QED) Are In A Position To Invest In Growth
RKH
UK£0.67
Rockhopper Exploration
7D
-6.7%
1Y
82.5%
SAVE
UK£0.085
Savannah Energy
7D
11.1%
1Y
n/a