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U.K. (FTSE) Materials Sector Analysis

UpdatedJan 01, 2026
DataAggregated Company Financials
Companies156
  • 7D1.5%
  • 3M20.6%
  • 1Y37.4%
  • YTD35.7%

Over the last 7 days, the Materials industry has risen 1.5%, driven by gains from Glencore of 3.1%. In the last 12 months, the industry was up 37%. As for the next few years, earnings are expected to grow by 27% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 01 Jan 2026UK£276.4bUK£276.0bUK£6.3b20.8x43.8x1x
Sat, 29 Nov 2025UK£244.9bUK£280.3bUK£6.4b18.5x38x0.9x
Mon, 27 Oct 2025UK£237.4bUK£278.8bUK£6.9b16.7x34.6x0.9x
Wed, 24 Sep 2025UK£218.8bUK£274.9bUK£6.7b16.6x32.5x0.8x
Fri, 22 Aug 2025UK£198.9bUK£276.5bUK£6.7b19.9x29.5x0.7x
Sun, 20 Jul 2025UK£196.7bUK£275.6bUK£6.8b15.8x28.7x0.7x
Tue, 17 Jun 2025UK£191.4bUK£272.5bUK£6.8b15.7x28.1x0.7x
Thu, 15 May 2025UK£197.1bUK£278.3bUK£7.1b15.3x27.6x0.7x
Sat, 12 Apr 2025UK£178.0bUK£282.1bUK£7.2b14.5x24.7x0.6x
Mon, 10 Mar 2025UK£204.5bUK£284.2bUK£7.2b14.8x28.5x0.7x
Wed, 05 Feb 2025UK£204.5bUK£291.7bUK£9.0b15.1x22.8x0.7x
Fri, 03 Jan 2025UK£213.1bUK£300.6bUK£9.2b15.9x23x0.7x
Sun, 01 Dec 2024UK£221.1bUK£293.9bUK£9.2b16.3x24x0.8x
Tue, 29 Oct 2024UK£228.9bUK£291.1bUK£8.7b17.1x26.2x0.8x
Thu, 26 Sep 2024UK£227.4bUK£284.6bUK£8.5b16.4x26.6x0.8x
Sat, 24 Aug 2024UK£222.2bUK£286.4bUK£8.5b15.8x26.1x0.8x
Mon, 22 Jul 2024UK£230.0bUK£285.4bUK£13.6b16.2x17x0.8x
Wed, 19 Jun 2024UK£236.0bUK£290.2bUK£13.7b15.3x17.2x0.8x
Fri, 17 May 2024UK£257.1bUK£292.5bUK£13.8b17.6x18.6x0.9x
Sun, 14 Apr 2024UK£245.7bUK£297.1bUK£14.3b14.5x17.2x0.8x
Tue, 12 Mar 2024UK£213.0bUK£290.3bUK£13.9b12.9x15.4x0.7x
Thu, 08 Feb 2024UK£220.5bUK£303.8bUK£19.5b11.6x11.3x0.7x
Sat, 06 Jan 2024UK£247.3bUK£347.5bUK£29.3b10.4x8.5x0.7x
Mon, 04 Dec 2023UK£247.4bUK£348.8bUK£29.3b9.9x8.4x0.7x
Wed, 01 Nov 2023UK£234.1bUK£361.7bUK£30.2b10x7.7x0.6x
Fri, 29 Sep 2023UK£271.0bUK£387.7bUK£32.5b9.8x8.3x0.7x
Sun, 27 Aug 2023UK£257.5bUK£379.3bUK£32.2b10.1x8x0.7x
Tue, 25 Jul 2023UK£280.7bUK£399.1bUK£43.3b10x6.5x0.7x
Thu, 22 Jun 2023UK£271.6bUK£402.0bUK£43.4b10.1x6.3x0.7x
Sat, 20 May 2023UK£269.1bUK£408.0bUK£44.2b10.2x6.1x0.7x
Mon, 17 Apr 2023UK£292.9bUK£408.0bUK£44.4b10x6.6x0.7x
Wed, 15 Mar 2023UK£291.8bUK£415.3bUK£45.7b9.3x6.4x0.7x
Fri, 10 Feb 2023UK£318.9bUK£413.8bUK£50.8b9.9x6.3x0.8x
Sun, 08 Jan 2023UK£317.7bUK£414.3bUK£50.9b9.7x6.2x0.8x
Price to Earnings Ratio

6.2x


Total Market Cap: UK£317.7bTotal Earnings: UK£50.9bTotal Revenue: UK£414.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Materials Sector Price to Earnings3Y Average 18.7x202420252026
Current Industry PE
  • Investors are optimistic on the British Materials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 43.8x which is higher than its 3-year average PE of 18.7x.
  • The 3-year average PS ratio of 0.74x is lower than the industry's current PS ratio of 1.0x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 50% per year over the last three years,
  • Revenues have also declined 13% 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. Materials sector?

GB Market0.74%
Materials1.52%
Paper and Forestry Products1.73%
Metals and Mining1.64%
Basic Materials0.46%
Packaging-0.093%
Chemicals-0.94%
Industry PE
  • Investors are most optimistic about the Metals and Mining industry which is trading above its 3-year average PE ratio of 18.6x.
    • Analysts are expecting annual earnings growth of 27.4%, which is lower than the prior year's growth of 78.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Packaging industry, expecting annual earnings growth of 60% over the next 5 years.
  • In contrast, the Paper and Forestry Products industry is expected to see its earnings grow by 25% 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
GLEN GlencoreUK£4.073.1%
+UK£1.4b		12.1%PS0.3x
FRES FresnilloUK£33.344.2%
+UK£987.4m		413.3%PE72.6x
AAL Anglo AmericanUK£30.852.4%
+UK£787.8m		14.1%PS1.7x
ANTO AntofagastaUK£32.791.7%
+UK£542.2m		106.2%PE39.9x
RIO Rio Tinto GroupUK£59.940.2%
+UK£195.0m		26.9%PE12.8x

Latest News

ATYM
UK£8.55
Atalaya Mining Copper
7D
4.8%
1Y
138.2%
HILS
UK£21.40
Hill & Smith
7D
-1.4%
1Y
14.6%

HILS: Future Profit Margins Are Expected To Support Strong Share Gains

Analysts have modestly raised their price target on Hill & Smith to reflect slightly stronger long term revenue growth and profit margin assumptions, with the updated valuation implying only a minimal change from the prior fair value of £28.00 per share. What's in the News Reaffirmed guidance for full year 2025, with underlying operating profit expected to be in line with current analyst consensus (Key Developments) Valuation Changes Fair Value: Unchanged at £28.00 per share, indicating no material shift in the overall valuation anchor.
CRDA
UK£26.95
Croda International
7D
-1.9%
1Y
-20.4%
SOLG
UK£0.28
SolGold
7D
7.6%
1Y
298.8%
PAF
UK£1.21
Pan African Resources
7D
-1.1%
1Y
252.3%

Pan African Resources (LON:PAF) Looks To Prolong Its Impressive Returns

Dec 24
Pan African Resources (LON:PAF) Looks To Prolong Its Impressive Returns
ANTO
UK£32.79
Antofagasta
7D
1.7%
1Y
106.2%

Antofagasta plc's (LON:ANTO) Intrinsic Value Is Potentially 95% Above Its Share Price

Dec 24
Antofagasta plc's (LON:ANTO) Intrinsic Value Is Potentially 95% Above Its Share Price
AAL
UK£30.85
Anglo American
7D
2.4%
1Y
14.9%

AAL: Iron Ore Upside And Merger Progress Will Drive Bullish Rerating

Analysts have lifted their price target on Anglo American to about $35 from roughly $28, reflecting improved expectations for revenue growth, higher margins, and a more favorable long term iron ore and valuation outlook following a series of recent target increases from major brokerages. Analyst Commentary Recent research updates highlight a clear shift toward a more constructive stance on Anglo American, with a series of price target increases signaling rising confidence in the company’s earnings trajectory and asset quality.
GLEN
UK£4.07
Glencore
7D
3.1%
1Y
15.0%
JMAT
UK£21.32
Johnson Matthey
7D
-1.8%
1Y
59.1%

JMAT: Future Outlook Will Remain Measured As Profit Initiatives Support Neutral Market Repricing

The analyst price target for Johnson Matthey has been lifted modestly, by about £0.10 per share, as analysts cite improved fair value estimates supported by slightly lower discount rates and marginally stronger long term profit expectations. Analyst Commentary Recent research updates highlight a converging view around a fair value range near 2,100 GBp, with analysts modestly more constructive on the company’s earnings resilience and capital allocation, while still flagging execution risks and macro uncertainty.
FRES
UK£33.34
Fresnillo
7D
4.2%
1Y
436.4%

FRES: Higher Precious Metal Price Hopes Will Likely Overstate Future Earnings Potential

Fresnillo's analyst price target has been lifted sharply, rising from about 950 GBp to a range of 3,000 to 4,300 GBp, as analysts factor in stronger expected revenue growth, higher profit margins and a more constructive long-term precious metals price outlook. Analyst Commentary Recent target price revisions for Fresnillo highlight a wide dispersion in analyst expectations, reflecting divergent views on the sustainability of the company’s earnings recovery and leverage to higher precious metals prices.
MNDI
UK£9.08
Mondi
7D
1.8%
1Y
-23.8%

MNDI Will Face Mounting Dividend Risk As Expectations Reset

Mondi's analyst price targets have been cut meaningfully, with a lower fair value estimate falling from roughly 10.8 to 7.5, as analysts temper expectations for revenue growth, margins, and future earnings multiples while flagging elevated risks to near term dividends and catalysts. Analyst Commentary Recent Street research reflects a notable reset in expectations for Mondi, with several bearish analysts cutting price targets and, in some cases, ratings.
RIO
UK£59.94
Rio Tinto Group
7D
0.2%
1Y
26.9%

RIO: Stronger Commodity Pricing And Cost Discipline Will Drive Upside Potential

Rio Tinto Group's analyst price target has been revised higher, with fair value estimates rising from approximately 65.08 to 74.18 as analysts factor in stronger expected revenue growth, wider profit margins, and a more favorable, though slightly higher risk-adjusted, earnings multiple implied by the latest round of target hikes across the Street. Analyst Commentary Recent research updates reflect a constructive tone on Rio Tinto, with a series of price target increases signaling growing confidence in the company’s earnings power and balance of risk and reward.
TIN
UK£0.82
Cornish Metals
7D
-3.2%
1Y
848.3%
CAPD
UK£1.14
Capital
7D
-5.0%
1Y
40.7%

CAPD: Raised Revenue Guidance And Equity Offering Will Support Stronger Future Performance

Analysts have raised their price target on the stock by approximately $0.52, reflecting increased confidence in faster revenue growth and stronger profit margins, despite a slightly higher discount rate and modestly lower future price to earnings expectations. What's in the News Capital Limited completed a follow on equity offering totaling approximately £30.6 million, issuing over 28.5 million new ordinary shares at £1.07 per share, including a subsequent direct listing feature (Key Developments).
ALTN
UK£12.35
AltynGold
7D
-4.3%
1Y
546.6%

Even With A 26% Surge, Cautious Investors Are Not Rewarding AltynGold plc's (LON:ALTN) Performance Completely

Dec 13
Even With A 26% Surge, Cautious Investors Are Not Rewarding AltynGold plc's (LON:ALTN) Performance Completely
EUA
UK£0.041
Eurasia Mining
7D
-12.9%
1Y
82.0%