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U.K. (FTSE) Chemicals Industry Analysis

UpdatedFeb 25, 2026
DataAggregated Company Financials
Companies20
  • 7D-2.3%
  • 3M8.5%
  • 1Y5.9%
  • YTD2.6%

Over the last 7 days, the Chemicals industry has dropped 2.3%, driven by a pullback from Johnson Matthey of 14%. In contrast, Croda International has gained 7.6%. This takes the industry's 12 month performance to a gain of 5.9%. As for the next few years, earnings are expected to grow by 27% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Feb 2026UK£10.4bUK£16.8b-UK£34,067,690.6128.6x-304.4x0.6x
Fri, 23 Jan 2026UK£10.6bUK£16.8b-UK£38,562,495.8525x-273.9x0.6x
Sun, 21 Dec 2025UK£10.0bUK£16.8b-UK£30,049,969.4320.5x-334.4x0.6x
Tue, 18 Nov 2025UK£9.7bUK£16.8bUK£423.2m17.9x23x0.6x
Thu, 16 Oct 2025UK£9.9bUK£16.8bUK£423.9m18.6x23.3x0.6x
Sat, 13 Sep 2025UK£9.3bUK£16.7bUK£430.8m21.8x21.5x0.6x
Mon, 11 Aug 2025UK£9.1bUK£16.7bUK£430.8m22.1x21.2x0.5x
Wed, 09 Jul 2025UK£10.0bUK£16.8bUK£449.6m21.2x22.3x0.6x
Fri, 06 Jun 2025UK£9.7bUK£16.8bUK£448.1m23.2x21.6x0.6x
Sun, 04 May 2025UK£8.9bUK£17.1bUK£594.1m19.6x14.9x0.5x
Tue, 01 Apr 2025UK£8.9bUK£17.1bUK£591.7m19.9x15.1x0.5x
Thu, 27 Feb 2025UK£10.0bUK£17.1bUK£578.2m17.3x17.3x0.6x
Sat, 25 Jan 2025UK£9.9bUK£17.1bUK£577.2m17.7x17.1x0.6x
Mon, 23 Dec 2024UK£10.0bUK£17.1bUK£577.9m21.7x17.4x0.6x
Wed, 20 Nov 2024UK£10.5bUK£18.2bUK£164.1m23.3x64.1x0.6x
Fri, 18 Oct 2024UK£11.0bUK£18.2bUK£165.3m24.7x66.5x0.6x
Sun, 15 Sep 2024UK£11.9bUK£18.2bUK£153.6m26.2x77.2x0.7x
Tue, 13 Aug 2024UK£11.7bUK£18.2bUK£131.1m26.2x89.5x0.6x
Thu, 11 Jul 2024UK£12.2bUK£18.2bUK£189.6m29.8x64.5x0.7x
Sat, 08 Jun 2024UK£12.9bUK£18.2bUK£191.3m31.6x67.3x0.7x
Mon, 06 May 2024UK£13.7bUK£19.6bUK£285.3m24.7x48x0.7x
Wed, 03 Apr 2024UK£13.6bUK£19.6bUK£274.7m21.6x49.6x0.7x
Fri, 01 Mar 2024UK£12.8bUK£19.8bUK£121.4m16.6x105.1x0.6x
Sun, 28 Jan 2024UK£13.2bUK£20.0bUK£140.7m18.4x93.5x0.7x
Tue, 26 Dec 2023UK£13.7bUK£20.0bUK£140.5m19.6x97.5x0.7x
Thu, 23 Nov 2023UK£12.7bUK£20.8bUK£238.9m16x53x0.6x
Sat, 21 Oct 2023UK£11.6bUK£20.9bUK£257.1m16.1x45.3x0.6x
Mon, 18 Sep 2023UK£13.4bUK£20.8bUK£222.0m22.9x60.4x0.6x
Wed, 16 Aug 2023UK£14.0bUK£21.0bUK£338.1m26.2x41.4x0.7x
Fri, 14 Jul 2023UK£14.9bUK£21.2bUK£801.8m17.5x18.6x0.7x
Sun, 11 Jun 2023UK£14.4bUK£21.2bUK£801.7m14.9x18x0.7x
Tue, 09 May 2023UK£17.4bUK£21.1bUK£837.9m16.8x20.8x0.8x
Thu, 06 Apr 2023UK£16.3bUK£21.1bUK£835.8m15.5x19.6x0.8x
Sat, 04 Mar 2023UK£17.9bUK£22.0bUK£1.0b17.1x17.2x0.8x
Price to Earnings Ratio

17.2x


Total Market Cap: UK£17.9bTotal Earnings: UK£1.0bTotal Revenue: UK£22.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Chemicals Industry Price to Earnings3Y Average 14.3x202420252026
Current Industry PE
  • Investors are relatively neutral on the British Chemicals industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PS ratio of 0.64x.
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 Market1.22%
Materials5.51%
Chemicals-2.35%
Commodity Chemicals-0.64%
Fertilizers and Agricultural Chemicals-1.72%
Specialty Chemicals-2.42%
Industrial Gases-6.03%
Industry PE
  • Investors are most optimistic about the Commodity Chemicals industry which is trading above its 3-year average PE ratio of 27.7x.
    • Analysts are expecting annual earnings growth of 36.0%, 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 9.9% 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
CRDA Croda InternationalUK£32.127.6%
+UK£316.9m		0.2%PE32x
ELM ElementisUK£1.720.7%
+UK£6.8m		13.3%PS1.8x
IOF IofinaUK£0.269.5%
+UK£4.3m		15.6%PE14x
CAR CarcloUK£0.599.3%
+UK£3.7m		166.4%PE22.8x
ESNT EssentraUK£1.071.1%
+UK£3.4m		-9.6%PE32.5x

Latest News

CRDA
UK£32.12
Croda International
7D
7.6%
1Y
0.2%
HEX
UK£0.27
Helix Exploration
7D
-6.0%
1Y
73.0%
SYNT
UK£0.20
Synthomer
7D
-4.3%
1Y
-84.9%

SYNT: Cost Actions And Bio-Based Shift Will Support Future Margin Resilience

Analysts have nudged their price target on Synthomer higher to £0.59. This reflects updated assumptions around slightly less severe revenue contraction and broadly unchanged profit margins and P/E expectations.
ELM
UK£1.72
Elementis
7D
0.7%
1Y
13.3%

ELM: Resilient 2025 Guidance Will Support An Undervalued Upside Case

Analysts have nudged their Elementis price target slightly higher to £1.99 from £1.99, reflecting updated fair value and discount rate assumptions while keeping revenue growth, margin expectations and future P/E estimates broadly unchanged. What's in the News Elementis issued earnings guidance for the year ending 31 December 2025, indicating that Group revenues are expected to be broadly in line with market consensus (Key Developments).
SNOX
UK£0.55
SulNOx Group
7D
-4.3%
1Y
-42.1%
EDEN
UK£0.038
Eden Research
7D
-1.3%
1Y
22.2%
VCT
UK£6.91
Victrex
7D
-1.7%
1Y
-25.9%

VCT: Higher Growth Assumptions Will Set Up Future Re Rating Opportunity

Analysts have trimmed their price target for Victrex to £8.90. This reflects slightly higher assumed discount and revenue growth rates, together with a small adjustment to forecast profit margins and future P/E expectations.
HAYD
UK£0.0042
Haydale
7D
2.4%
1Y
300.0%
JMAT
UK£19.59
Johnson Matthey
7D
-14.3%
1Y
36.0%

JMAT: Future Outlook Will Stay Measured As New Leadership Supports Neutral Repricing

Analysts have lifted their fair value estimate for Johnson Matthey from £21.03 to £22.42, citing updated assumptions around profit margins and future P/E multiples, alongside recent Street research that raised the price target to £24.00. Analyst Commentary Bullish Takeaways Bullish analysts see the £24.00 price target as consistent with the updated fair value range, suggesting the market is willing to recognise higher earnings power if profit margins align with current assumptions.
ZTF
UK£4.18
Zotefoams
7D
-3.2%
1Y
52.0%

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

Analysts have kept their Zotefoams fair value estimate steady at £6.06, with only small adjustments to inputs such as discount rate, revenue growth, profit margin and future P/E contributing to an unchanged overall price target. What's in the News Zotefoams issued unaudited earnings guidance for the year ending 31 December 2025, giving investors an early view of expected performance (company guidance).
ESNT
UK£1.07
Essentra
7D
1.1%
1Y
-9.6%

ESNT: Higher Future P/E Will Offset Softer Margins And Revenue Guidance

Analysts have modestly reduced their price target for Essentra to £1.83 from £1.89. This reflects updated views on slightly softer revenue growth, lower profit margin assumptions and a higher future P/E multiple.
TET
UK£2.17
Treatt
7D
2.6%
1Y
-47.8%
HDD
UK£0.24
Hardide
7D
-11.1%
1Y
255.6%
IOF
UK£0.26
Iofina
7D
9.5%
1Y
15.6%
DCTA
UK£0.12
Directa Plus
7D
-34.3%
1Y
70.4%
CAR
UK£0.59
Carclo
7D
9.3%
1Y
166.4%

Market Cool On Carclo plc's (LON:CAR) Revenues Pushing Shares 25% Lower

Dec 18
Market Cool On Carclo plc's (LON:CAR) Revenues Pushing Shares 25% Lower