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U.K. (FTSE) Materials Sector Analysis

UpdatedJul 05, 2026
DataAggregated Company Financials
Companies157
  • 7D0.05%
  • 3M-0.5%
  • 1Y63.5%
  • YTD14.9%

In the last week, Materials has been flat. As for the the longer term, the industry is up 63% over the past 12 months. Looking forward, earnings are forecast to grow by 19% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Jul 2026UK£315.8bUK£289.0bUK£9.0b18.1x35.3x1.1x
Tue, 02 Jun 2026UK£346.4bUK£287.1bUK£8.9b19.1x38.9x1.2x
Thu, 30 Apr 2026UK£317.7bUK£286.1bUK£8.9b18.4x35.6x1.1x
Sat, 28 Mar 2026UK£295.8bUK£290.0bUK£9.1b17.9x32.4x1x
Mon, 23 Feb 2026UK£327.4bUK£291.5bUK£8.1b23.8x40.4x1.1x
Wed, 21 Jan 2026UK£300.5bUK£275.7bUK£6.3b21.1x47.6x1.1x
Fri, 19 Dec 2025UK£263.3bUK£277.3bUK£6.3b19.9x41.5x0.9x
Sun, 16 Nov 2025UK£242.4bUK£281.6bUK£6.9b17.5x34.9x0.9x
Tue, 14 Oct 2025UK£240.3bUK£278.4bUK£6.8b18x35.1x0.9x
Thu, 11 Sep 2025UK£209.3bUK£274.5bUK£6.7b17.7x31.3x0.8x
Sat, 09 Aug 2025UK£198.1bUK£275.2bUK£6.6b16.8x30x0.7x
Mon, 07 Jul 2025UK£193.1bUK£271.3bUK£6.7b14.8x28.6x0.7x
Wed, 04 Jun 2025UK£190.0bUK£273.5bUK£6.8b15.9x27.8x0.7x
Fri, 02 May 2025UK£185.3bUK£278.2bUK£7.1b15.1x26x0.7x
Sun, 30 Mar 2025UK£198.5bUK£284.2bUK£7.3b15.1x27.4x0.7x
Tue, 25 Feb 2025UK£206.3bUK£289.4bUK£7.4b14.6x28x0.7x
Thu, 23 Jan 2025UK£224.2bUK£301.9bUK£9.3b15.1x24.1x0.7x
Sat, 21 Dec 2024UK£208.9bUK£296.2bUK£9.1b15.7x22.9x0.7x
Mon, 18 Nov 2024UK£216.7bUK£298.4bUK£8.9b16.9x24.2x0.7x
Wed, 16 Oct 2024UK£225.4bUK£289.2bUK£8.7b17.7x26x0.8x
Fri, 13 Sep 2024UK£211.3bUK£288.4bUK£8.7b15.6x24.4x0.7x
Sun, 11 Aug 2024UK£222.0bUK£295.3bUK£8.8b15x25.1x0.8x
Tue, 09 Jul 2024UK£243.3bUK£287.4bUK£13.7b15.7x17.8x0.8x
Thu, 06 Jun 2024UK£243.1bUK£288.7bUK£13.6b17.1x17.9x0.8x
Sat, 04 May 2024UK£248.6bUK£295.0bUK£14.0b15.7x17.8x0.8x
Mon, 01 Apr 2024UK£226.7bUK£293.6bUK£14.1b14.2x16.1x0.8x
Wed, 28 Feb 2024UK£213.2bUK£292.8bUK£14.0b11.2x15.3x0.7x
Fri, 26 Jan 2024UK£237.4bUK£348.0bUK£29.3b10.6x8.1x0.7x
Sun, 24 Dec 2023UK£253.3bUK£348.2bUK£29.3b10.5x8.6x0.7x
Tue, 21 Nov 2023UK£244.7bUK£354.1bUK£29.7b10.2x8.2x0.7x
Thu, 19 Oct 2023UK£266.2bUK£389.6bUK£32.6b10.1x8.2x0.7x
Sat, 16 Sep 2023UK£271.4bUK£383.3bUK£32.2b10.2x8.4x0.7x
Mon, 14 Aug 2023UK£264.4bUK£375.6bUK£31.8b10x8.3x0.7x
Wed, 12 Jul 2023UK£264.8bUK£397.2bUK£43.1b9.8x6.1x0.7x
Price to Earnings Ratio

6.1x


Total Market Cap: UK£264.8bTotal Earnings: UK£43.1bTotal Revenue: UK£397.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Materials Sector Price to Earnings3Y Average 24.4x202420252026
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 35.3x which is higher than its 3-year average PE of 24.3x.
  • The 3-year average PS ratio of 0.81x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 41% per year over the last three years,
  • Revenues have also declined 10% 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 Market1.61%
Materials0.048%
Basic Materials2.15%
Chemicals1.40%
Metals and Mining-0.029%
Paper and Forestry Products-0.20%
Packaging-0.83%
Industry PE
  • Investors are most optimistic about the Metals and Mining industry which is trading above its 3-year average PE ratio of 24.3x.
    • Analysts are expecting annual earnings growth of 18.5%, which is lower than the prior year's growth of 70.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Chemicals industry, expecting annual earnings growth of 30% over the next 5 years.
  • This is better than its past earnings decline of 60% per year.
  • In contrast, the Packaging industry is expected to see its earnings grow by 4.0% 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
AAL Anglo AmericanUK£37.851.8%
+UK£717.9m		71.9%PS2.9x
ANTO AntofagastaUK£38.681.1%
+UK£423.9m		103.9%PE38.3x
FRES FresnilloUK£29.221.9%
+UK£397.9m		95.5%PE20.8x
SRC SigmaRocUK£1.315.6%
+UK£76.6m		23.9%PE18.2x
HILS Hill & SmithUK£28.553.4%
+UK£74.5m		58.4%PE27.1x

Latest News

JMAT
UK£20.14
Johnson Matthey
7D
1.7%
1Y
10.0%
HEX
UK£0.24
Helix Exploration
7D
-17.4%
1Y
-10.5%
RIO
UK£70.70
Rio Tinto Group
7D
-1.4%
1Y
65.7%
Narrative Update • Jul 02

RIO: Copper Projects And Logistics Savings Will Support Future Upside

The analyst price target for Rio Tinto Group is updated modestly higher to reflect a fair value move from £91.63 to £93.88, as analysts factor in slightly stronger revenue growth assumptions, a higher profit margin profile and a lower projected future P/E multiple, while also weighing mixed rating actions and valuation concerns across recent research. Analyst Commentary Recent research on Rio Tinto Group shows a mix of views, but several bullish analysts have lifted their price targets, pointing to what they see as supportive sector conditions and solid project execution.
ECOR
UK£1.37
Ecora Royalties
7D
-2.3%
1Y
115.1%
KDNC
UK£0.051
Cadence Minerals
7D
-21.5%
1Y
218.8%
AAL
UK£37.85
Anglo American
7D
1.8%
1Y
71.9%
Narrative Update • Jun 30

AAL: Copper Shift And Chile Projects Will Support Future Rerating

Anglo American's analyst fair value estimate has moved from £46.07 to £50.29 as analysts factor in revised revenue growth and margin assumptions, alongside a series of higher price targets, even as some ratings shift to Hold on valuation grounds and changing commodity mix views. Analyst Commentary Recent Street research on Anglo American shows a mix of caution on the rating side and optimism on valuation, with several bullish analysts lifting price targets even as some move to Hold.
FRES
UK£29.22
Fresnillo
7D
1.9%
1Y
95.5%
Narrative Update • Jun 30

FRES: Production Slippage And Mixed Street Views Will Shape Future Returns

The analyst price target for Fresnillo has been revised slightly higher to £25.41 from £24.72. Analysts cite updated assumptions on revenue growth, profit margins and future P/E as key drivers of the change.
GLEN
UK£5.14
Glencore
7D
-0.2%
1Y
69.6%
Narrative Update • Jun 29

GLEN: Copper Shift And Rising Fair Value Will Drive Medium Term Rerating

Glencore's analyst price targets have moved in both directions, with several banks raising estimates toward the £5.60 to £6.10 range, while others, citing a shift toward copper and earnings pressure in iron ore, have trimmed targets to around £5.30. Analyst Commentary Recent research on Glencore shows a split in opinion, but the most optimistic commentary highlights higher price targets and confidence in the company’s ability to execute on its portfolio mix, particularly around copper exposure and capital allocation.
HOC
UK£5.02
Hochschild Mining
7D
2.4%
1Y
85.0%
Narrative Update • Jun 25

HOC: Revised Earnings Assumptions Will Support Bullish Repricing Potential

Analysts have modestly reduced their price target on Hochschild Mining to £8.12 from £8.13, reflecting updated assumptions on the discount rate, revenue, profit margins and future P/E after recent cuts to price targets from the Street. Analyst Commentary Street research on Hochschild Mining has focused on how recent target price changes feed into views on valuation, execution risk and growth potential, rather than on a single clear-cut direction for the stock.
SRC
UK£1.31
SigmaRoc
7D
5.6%
1Y
23.9%
Narrative Update • Jun 23

SRC: Raised Street Pricing Assumptions Will Support Future Upside Potential

Analysts have raised their price target on SigmaRoc to £1.50 from £1.40, citing updated views on the company that are reflected in slightly adjusted assumptions around discount rates and valuation multiples. What’s in the News for SigmaRoc No recent news items for SigmaRoc have been identified in the provided sources.
ANTO
UK£38.68
Antofagasta
7D
1.1%
1Y
103.9%
Narrative Update • Jun 23

ANTO: Rising Execution Risks Will Likely Cap Copper Upside Potential

Antofagasta's updated fair value estimate has risen from £23.50 to £26.50 per share. This reflects analysts' higher price targets and assumptions for stronger top line growth, offset by slightly lower profit margins and a higher future P/E multiple.
VCT
UK£5.90
Victrex
7D
-1.3%
1Y
-24.5%
Narrative Update • Jun 22

VCT: Margin Progress And Lower P/E Framework Will Support Future Re Rating

Analysts have nudged their Victrex price target slightly lower to £8.49 from £8.51, citing updated assumptions around revenue growth, profit margins and future P/E expectations that leave the overall valuation broadly unchanged. What's in the News No recent Victrex specific news items or key developments were available from the provided sources.
HILS
UK£28.55
Hill & Smith
7D
3.4%
1Y
58.4%
Narrative Update • Jun 22

HILS: Revenue Visibility And Peer Discount Will Support Future Re Rating

Analysts have lifted the consensus price target for Hill & Smith to about £32.50 per share, up from around £28.45, citing higher medium term revenue growth expectations and an ongoing valuation discount to selected U.S. peers. Analyst Commentary Bullish analysts covering Hill & Smith are framing the higher price targets as a reflection of confidence in the company’s execution and its positioning relative to U.S. peers.
EEE
UK£0.38
Empire Metals
7D
-7.3%
1Y
49.0%
GMET
UK£1.95
Guardian Metal Resources
7D
-15.1%
1Y
232.5%
TUN
UK£0.36
Tungsten West
7D
11.1%
1Y
261.0%