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U.K. (FTSE) Healthcare Sector Analysis

UpdatedJun 12, 2026
DataAggregated Company Financials
Companies85
  • 7D0.8%
  • 3M-5.6%
  • 1Y15.6%
  • YTD-0.2%

Over the last 7 days, the Healthcare industry has remained flat, although notably GSK gained 3.2%. The past year has been better, since the industry has gained 16% in that time. Looking forward, earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 12 Jun 2026UK£346.6bUK£103.1bUK£16.1b26.8x21.5x3.4x
Sun, 10 May 2026UK£337.7bUK£102.3bUK£16.0b25.8x21.1x3.3x
Tue, 07 Apr 2026UK£385.0bUK£102.6bUK£16.2b20.6x23.8x3.8x
Thu, 05 Mar 2026UK£383.3bUK£101.9bUK£16.1b22.2x23.8x3.8x
Sat, 31 Jan 2026UK£350.7bUK£99.1bUK£14.8b26.3x23.7x3.5x
Mon, 29 Dec 2025UK£347.0bUK£100.0bUK£14.9b21.9x23.2x3.5x
Wed, 26 Nov 2025UK£354.6bUK£101.3bUK£15.1b24.1x23.4x3.5x
Fri, 24 Oct 2025UK£323.8bUK£98.9bUK£12.1b26.2x26.7x3.3x
Sun, 21 Sep 2025UK£301.3bUK£100.9bUK£12.1b28.5x25x3x
Tue, 19 Aug 2025UK£308.1bUK£100.7bUK£12.0b29.5x25.6x3.1x
Thu, 17 Jul 2025UK£282.2bUK£97.2bUK£10.8b31x26.1x2.9x
Sat, 14 Jun 2025UK£298.4bUK£96.8bUK£10.7b29.7x27.9x3.1x
Mon, 12 May 2025UK£281.4bUK£97.9bUK£10.8b30.2x25.9x2.9x
Wed, 09 Apr 2025UK£276.0bUK£99.1bUK£9.8b28.6x28.2x2.8x
Fri, 07 Mar 2025UK£314.8bUK£98.6bUK£9.6b28.3x32.8x3.2x
Sun, 02 Feb 2025UK£264.5bUK£86.6bUK£7.7b30.4x34.3x3.1x
Tue, 31 Dec 2024UK£244.8bUK£86.1bUK£7.7b31.2x32x2.8x
Thu, 28 Nov 2024UK£248.4bUK£85.5bUK£7.6b27.7x32.7x2.9x
Sat, 26 Oct 2024UK£270.2bUK£82.9bUK£8.9b25.5x30.3x3.3x
Mon, 23 Sep 2024UK£276.9bUK£81.6bUK£8.8b29.3x31.5x3.4x
Wed, 21 Aug 2024UK£300.2bUK£82.5bUK£8.9b33.6x33.7x3.6x
Fri, 19 Jul 2024UK£281.9bUK£80.9bUK£9.3b32.5x30.3x3.5x
Sun, 16 Jun 2024UK£289.8bUK£81.8bUK£9.4b30.8x30.7x3.5x
Tue, 14 May 2024UK£296.3bUK£82.3bUK£9.5b34.6x31.3x3.6x
Thu, 11 Apr 2024UK£265.1bUK£81.4bUK£9.6b29.6x27.5x3.3x
Sat, 09 Mar 2024UK£259.9bUK£80.2bUK£9.5b34.5x27.3x3.2x
Mon, 05 Feb 2024UK£271.8bUK£84.9bUK£9.5b38.7x28.6x3.2x
Wed, 03 Jan 2024UK£274.0bUK£84.3bUK£10.7b41.3x25.7x3.3x
Fri, 01 Dec 2023UK£259.7bUK£84.2bUK£10.7b39.6x24.3x3.1x
Sun, 29 Oct 2023UK£261.1bUK£86.2bUK£10.3b40x25.3x3x
Tue, 26 Sep 2023UK£284.7bUK£85.9bUK£10.3b39.7x27.6x3.3x
Thu, 24 Aug 2023UK£271.6bUK£84.0bUK£10.2b40.2x26.7x3.2x
Sat, 22 Jul 2023UK£273.7bUK£82.1bUK£7.8b46.6x34.9x3.3x
Mon, 19 Jun 2023UK£288.3bUK£82.3bUK£7.9b48.5x36.6x3.5x
Price to Earnings Ratio

36.6x


Total Market Cap: UK£288.3bTotal Earnings: UK£7.9bTotal Revenue: UK£82.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Healthcare Sector Price to Earnings3Y Average 27.8x202420252026
Current Industry PE
  • Investors are pessimistic on the British Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 21.5x which is lower than its 3-year average PE of 27.8x.
  • The industry is trading close to its 3-year average PS ratio of 3.3x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 27% per year over the last three years.
  • Revenues for these companies have grown 7.8% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

GB Market-0.78%
Healthcare0.79%
Pharma0.97%
Medical Equipment-0.51%
Healthcare Services-0.57%
Biotech-2.45%
Healthtech-7.54%
Life Sciences-12.49%
Industry PE
  • Investors are most optimistic about the Healthtech industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 17.3%, which is lower than the prior year's growth of 51.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Life Sciences industry, expecting annual earnings growth of 57% over the next 5 years.
  • In contrast, the Pharma industry is expected to see its earnings grow by 10% 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
GSK GSKUK£19.633.2%
+UK£2.4b		26.7%PE13.4x
AZN AstraZenecaUK£135.780.2%
+UK£372.2m		23.1%PE27.2x
HLN HaleonUK£3.341.3%
+UK£372.1m		-16.5%PE17.8x
HIK Hikma PharmaceuticalsUK£14.821.5%
+UK£46.9m		-30.9%PE10.5x
SN. Smith & NephewUK£11.370.4%
+UK£18.5m		2.4%PE20.7x

Latest News

GSK
UK£19.63
GSK
7D
3.2%
1Y
26.7%
HCM
UK£1.69
HUTCHMED (China)
7D
-1.9%
1Y
-35.6%
Narrative Update • Jun 11

HCM: Late Stage Hematology And Oncology Readouts Will Drive Reassessment

Analysts have trimmed their price target on HUTCHMED (China) from £5.62 to £5.20, reflecting updated assumptions around a higher discount rate, slightly stronger revenue growth expectations, a lower projected profit margin, and a higher future P/E multiple. What's in the News China NMPA approved the New Drug Application for TYVYT (sintilimab) plus ELUNATE (fruquintinib) for patients with locally advanced or metastatic renal cell carcinoma after prior VEGFR TKI therapy and without prior PD 1 or PD L1 treatment, based on the FRUSICA 2 registration study.
SPI
UK£2.20
Spire Healthcare Group
7D
1.2%
1Y
4.8%
Narrative Update • Jun 09

SPI: Proposed £2.50 Cash Offer Will Support Further Upside Potential

Analysts have kept their fair value estimate for Spire Healthcare Group steady at £2.56 per share, with a slightly higher assumed discount rate and P/E multiple balanced by a lower profit margin outlook. Together, these factors underpin the latest price target update.
SN.
UK£11.37
Smith & Nephew
7D
0.4%
1Y
2.4%
CTEC
UK£2.00
Convatec Group
7D
-2.1%
1Y
-31.1%
Narrative Update • Jun 08

CTEC: Advanced Wound Care Pipeline And Ostomy Launch Will Support Future Rerating Potential

The analyst price target for Convatec Group has been revised downward to reflect recent Street research changes, including reductions to a range of approximately £2.30 to £2.94, along with updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions. Analyst Commentary Recent research on Convatec Group points to a more cautious stance on valuation, even as some analysts maintain a constructive view on the company’s execution and earnings potential.
CVSG
UK£12.24
CVS Group
7D
-2.6%
1Y
-3.9%
Narrative Update • Jun 06

CVSG: Activist Buyback Push And Index Inclusion Will Support Future Upside

Analysts have kept their £16.40 fair value estimate for CVS Group broadly unchanged, with a slightly higher discount rate and modest tweaks to revenue growth, profit margin and future P/E assumptions helping to frame a neutral stance following recent Street research. What's in the News Converium Capital Inc.
AZN
UK£135.78
AstraZeneca
7D
0.2%
1Y
23.1%
GNS
UK£21.70
Genus
7D
-4.6%
1Y
7.4%
Narrative Update • Jun 05

GNS: Margin Discipline And Stable P/E Framework Will Drive Medium Term Upside

Genus’s analyst price target holds steady at £37.00 as analysts balance a modestly lower revenue growth outlook with slightly higher profit margin and P/E assumptions following mixed new coverage from JPMorgan and BNP Paribas. Analyst Commentary Recent research coverage has focused on how Genus’s current valuation lines up with its profit potential, with one new initiation from JPMorgan and another neutral initiation helping anchor the £37.00 analyst price target.
HIK
UK£14.82
Hikma Pharmaceuticals
7D
1.5%
1Y
-30.9%
HLN
UK£3.34
Haleon
7D
1.3%
1Y
-16.5%
OXB
UK£6.10
Oxford Biomedica
7D
1.7%
1Y
83.7%
Narrative Update • Jun 04

OXB: Future Upside Will Rely On Fast Track And New APAC Agreement

Analysts have nudged their fair value estimate for Oxford Biomedica slightly lower to £8.41, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E. Recent Street research resuming coverage has reinforced the broader analytical focus on the stock.
ONT
UK£1.20
Oxford Nanopore Technologies
7D
-14.3%
1Y
-1.7%
SCLP
UK£0.19
Scancell Holdings
7D
-16.7%
1Y
89.9%
AGY
UK£0.08
Allergy Therapeutics
7D
-10.1%
1Y
21.2%
TSTL
UK£3.90
Tristel
7D
4.0%
1Y
2.6%
New Narrative • Mar 19

Tristel's US Expansion Could Spark a 286% Revenue Surge

A case for buying shares in AIM: TSTL Tristel currently rests on a combination of recent share-price weakness and improving business fundamentals. The share price has fallen to around GBX 385–390p in mid-March 2026 after trading above GBX 420–430p earlier in the year, leaving it noticeably below its recent range and close to the middle of its 52-week band of roughly GBX 260p–445p.
CRW
UK£14.32
Craneware
7D
-7.9%
1Y
-29.1%