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U.K. (FTSE) Chemicals Industry Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies20
  • 7D0.2%
  • 3M-6.4%
  • 1Y-3.3%
  • YTD-7.9%

In the last week, Chemicals has been flat. As for the longer term, the industry has declined 3.3% in the last year. Earnings are forecast to grow by 29% annually.

Industry Valuation and Performance

Has the U.K. Chemicals Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 16 Mar 2026UK£9.3bUK£16.7b-UK£34,308,454.3024.2x-271.4x0.6x
Wed, 11 Feb 2026UK£11.1bUK£16.8b-UK£37,624,660.5128.2x-294.2x0.7x
Fri, 09 Jan 2026UK£10.1bUK£16.8b-UK£32,453,393.0121x-310.6x0.6x
Sun, 07 Dec 2025UK£9.7bUK£16.8b-UK£42,240,228.2924x-230.4x0.6x
Tue, 04 Nov 2025UK£10.0bUK£16.8bUK£423.1m18.6x23.6x0.6x
Thu, 02 Oct 2025UK£9.9bUK£16.8bUK£424.1m20.9x23.4x0.6x
Sat, 30 Aug 2025UK£9.2bUK£16.7bUK£432.4m22.2x21.4x0.6x
Mon, 28 Jul 2025UK£9.7bUK£16.8bUK£449.1m22.1x21.7x0.6x
Wed, 25 Jun 2025UK£9.8bUK£16.8bUK£450.3m22.4x21.8x0.6x
Fri, 23 May 2025UK£9.8bUK£17.1bUK£604.0m22.1x16.3x0.6x
Sun, 20 Apr 2025UK£8.1bUK£17.1bUK£594.2m18.6x13.7x0.5x
Tue, 18 Mar 2025UK£9.6bUK£17.1bUK£582.1m16.2x16.6x0.6x
Thu, 13 Feb 2025UK£9.9bUK£17.1bUK£577.3m17.7x17.1x0.6x
Sat, 11 Jan 2025UK£9.7bUK£17.1bUK£576.4m18.5x16.8x0.6x
Mon, 09 Dec 2024UK£10.4bUK£17.1bUK£583.9m18.7x17.7x0.6x
Wed, 06 Nov 2024UK£10.8bUK£18.2bUK£165.4m24.2x65.4x0.6x
Fri, 04 Oct 2024UK£11.7bUK£18.1bUK£165.6m23.9x70.5x0.6x
Sun, 01 Sep 2024UK£12.3bUK£18.1bUK£154.7m26.9x79.3x0.7x
Tue, 30 Jul 2024UK£12.4bUK£18.2bUK£193.2m29.3x63.9x0.7x
Thu, 27 Jun 2024UK£12.2bUK£18.2bUK£191.3m30.1x63.8x0.7x
Sat, 25 May 2024UK£13.6bUK£18.2bUK£186.0m33.5x73.1x0.7x
Mon, 22 Apr 2024UK£13.7bUK£19.6bUK£286.4m23.1x47.7x0.7x
Wed, 20 Mar 2024UK£13.1bUK£19.6bUK£244.5m17.6x53.8x0.7x
Fri, 16 Feb 2024UK£13.5bUK£20.0bUK£144.1m18.1x93.4x0.7x
Sun, 14 Jan 2024UK£12.7bUK£20.0bUK£141.0m18.5x90x0.6x
Tue, 12 Dec 2023UK£13.0bUK£20.0bUK£139.5m18.8x93x0.6x
Thu, 09 Nov 2023UK£12.6bUK£20.8bUK£229.4m15.1x54.9x0.6x
Sat, 07 Oct 2023UK£12.8bUK£20.8bUK£257.8m16.8x49.8x0.6x
Mon, 04 Sep 2023UK£14.4bUK£21.0bUK£355.1m25x40.5x0.7x
Wed, 02 Aug 2023UK£15.0bUK£21.0bUK£337.3m27.7x44.4x0.7x
Fri, 30 Jun 2023UK£14.1bUK£21.2bUK£800.1m14.1x17.7x0.7x
Sun, 28 May 2023UK£15.9bUK£21.3bUK£802.4m15.6x19.9x0.7x
Tue, 25 Apr 2023UK£17.7bUK£21.1bUK£835.7m16.6x21.2x0.8x
Thu, 23 Mar 2023UK£16.6bUK£21.9bUK£998.6m15.3x16.7x0.8x
Price to Earnings Ratio

16.7x


Total Market Cap: UK£16.6bTotal Earnings: UK£998.6mTotal Revenue: UK£21.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Chemicals Industry Price to Earnings3Y Average 10.7x202420252026
Current Industry PE
  • Investors are pessimistic on the British Chemicals industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading close to its 3-year average PS ratio of 0.63x.
Past Earnings Growth
  • Total earnings for the Chemicals industry have declined over the last three years, with the industry now making a loss overall.
  • Revenues have also declined 8.6% per year, which is driving profits down.

Industry Trends

Which industries have driven the changes within the U.K. Materials industry?

GB Market-0.10%
Materials-0.39%
Chemicals0.18%
Industrial Gases5.23%
Specialty Chemicals0.23%
Fertilizers and Agricultural Chemicals-1.01%
Commodity Chemicals-1.22%
Industry PE
  • Investors are most optimistic about the Commodity Chemicals industry which is trading above its 3-year average PE ratio of 27.2x.
    • Analysts are expecting annual earnings growth of 36.2%, which is lower than the prior year's growth of 686.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Commodity Chemicals industry, expecting annual earnings growth of 36% over the next 5 years.
  • In contrast, the Fertilizers and Agricultural Chemicals industry is expected to see its earnings grow by 8.9% 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
JMAT Johnson MattheyUK£19.181.6%
+UK£50.3m		34.6%PS0.3x
ELM ElementisUK£1.524.5%
+UK£37.5m		2.0%PE18.4x
ATOM AtomeUK£0.5614.3%
+UK£3.6m		62.3%PB23.2x
TET TreattUK£2.081.5%
+UK£1.8m		-46.0%PE24.2x
IOF IofinaUK£0.253.1%
+UK£1.4m		15.1%PE13x

Latest News

ELM
UK£1.52
Elementis
7D
4.5%
1Y
2.0%

ELM: Resilient 2025 Guidance And Refinements To Risk Assumptions Will Support Upside

Analysts have adjusted their price target on Elementis to £2.00 from £2.05, reflecting updated views on fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Recent research reflects a slightly lower view of fair value for Elementis, with the price target adjusted to £2.00 from £2.05.
ESNT
UK£0.93
Essentra
7D
0.2%
1Y
-20.4%

ESNT: FY25 Guidance And Refined Assumptions Will Support A Re Rating View

Analysts have slightly reduced their price target for Essentra to reflect refreshed assumptions on discount rates, revenue growth, profit margins and future P/E, resulting in a modestly lower implied fair value in £ terms while keeping the overall thesis broadly unchanged. What's in the News Essentra issued earnings guidance for FY25, with group revenue expected to grow by 2.5% on a constant currency, like-for-like basis.
SYNT
UK£0.18
Synthomer
7D
-13.4%
1Y
-84.8%

SYNT: Cost Actions And Bio Based Shift Will Support Earnings Recovery

Analysts have trimmed their price target on Synthomer from £1.34 to about £1.27, citing updated assumptions on revenue growth, profit margins and future P/E multiples as they reassess the balance of risk and reward. What's in the News Godavari Biorefineries Limited partnered with Synthomer to develop bio-based alternatives to existing fossil-based monomers, including commercialisation of bio-based butyl acrylate using bio-based butanol from GBL, aimed at supporting customer demand for lower carbon materials (Key Developments).
VCT
UK£6.13
Victrex
7D
-0.8%
1Y
-38.5%

VCT: Future Upside Will Be Supported By Resilient Earnings Assumptions

Analysts have trimmed their price target for Victrex to £7.32 from £7.48. This reflects updated views on its long term fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
HMI
UK£0.0035
Harvest Minerals
7D
7.7%
1Y
-12.5%
CRDA
UK£26.76
Croda International
7D
-1.5%
1Y
-13.9%

CRDA: Higher Price References And Modest P/E Reset Will Support Upside Potential

Narrative Update The analyst price target for Croda International has been raised. Our fair value estimate has moved slightly higher to reflect recent increases in Street targets to around £32 per share, supported by analysts pointing to updated assumptions on discount rates, revenue growth, profit margins and future P/E expectations.
JMAT
UK£19.18
Johnson Matthey
7D
1.6%
1Y
34.6%

JMAT: Firmer Margins And Balanced Risk Profile Will Support Future Upside

The updated analyst price target for Johnson Matthey edges lower to around £21.20 to £22.50 per share, from previous levels closer to £22.50 to £25.50, as analysts factor in softer revenue expectations, a higher discount rate and adjusted P/E assumptions, partly offset by a firmer profit margin view. Analyst Commentary Recent street research shows a mixed but generally constructive stance on Johnson Matthey, with several bullish analysts reaffirming supportive views on the share price even as they adjust their models.
ZTF
UK£3.79
Zotefoams
7D
-3.3%
1Y
44.7%

ZTF: 2025 Revenue Guidance Will Support Stronger Margins And Repricing Potential

Analysts have kept their £6.06 price target for Zotefoams unchanged, citing steady assumptions on fair value, revenue growth, profit margins and future P/E, along with a slightly lower discount rate in their refreshed model. What's in the News Zotefoams issued unaudited earnings guidance for the year ending 31 December 2025, giving investors an early view on expected performance (Key Developments).
HEX
UK£0.34
Helix Exploration
7D
1.2%
1Y
146.0%
DCTA
UK£0.12
Directa Plus
7D
-4.2%
1Y
70.4%
KRPZ
UK£0.012
Kropz
7D
-7.7%
1Y
71.4%
EDEN
UK£0.032
Eden Research
7D
-5.9%
1Y
4.9%
TET
UK£2.08
Treatt
7D
1.5%
1Y
-46.0%
ATOM
UK£0.56
Atome
7D
14.3%
1Y
62.3%
IOF
UK£0.25
Iofina
7D
3.1%
1Y
15.1%
SYM
UK£0.063
Symphony Environmental Technologies
7D
-15.3%
1Y
104.9%

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Oct 26
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