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U.K. (FTSE) Chemicals Industry Analysis

UpdatedJul 12, 2026
DataAggregated Company Financials
Companies18
  • 7D-3.5%
  • 3M-1.2%
  • 1Y-1.6%
  • YTD-2.9%

Over the last 7 days, the Chemicals industry has dropped 3.5%, driven by pullbacks in Croda International and Johnson Matthey of 4.9% and 5.6%, respectively. In contrast, Victrex has gained 15%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 31% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 13 Jul 2026UK£9.8bUK£17.3b-UK£139,715,907.2819.3x-69.8x0.6x
Wed, 10 Jun 2026UK£10.2bUK£17.4b-UK£136,701,463.3426.2x-74.5x0.6x
Fri, 08 May 2026UK£10.1bUK£16.6b-UK£93,974,116.4519.3x-107.8x0.6x
Sun, 05 Apr 2026UK£9.6bUK£16.7b-UK£19,567,814.0518.4x-488.8x0.6x
Tue, 03 Mar 2026UK£10.3bUK£16.8b-UK£112,129,908.8628.4x-91.7x0.6x
Thu, 29 Jan 2026UK£10.4bUK£16.8b-UK£37,309,698.5325.6x-280.1x0.6x
Sat, 27 Dec 2025UK£10.0bUK£16.8b-UK£29,803,558.1320.2x-335.8x0.6x
Mon, 24 Nov 2025UK£9.5bUK£16.8b-UK£41,054,910.9722.4x-231.1x0.6x
Wed, 22 Oct 2025UK£10.1bUK£16.8bUK£423.9m18.9x23.9x0.6x
Fri, 19 Sep 2025UK£9.5bUK£16.7bUK£430.8m21.5x22.2x0.6x
Sun, 17 Aug 2025UK£9.2bUK£16.7bUK£431.1m23.2x21.3x0.5x
Tue, 15 Jul 2025UK£10.0bUK£16.8bUK£449.1m21.3x22.2x0.6x
Thu, 12 Jun 2025UK£10.0bUK£16.8bUK£447.9m23x22.3x0.6x
Sat, 10 May 2025UK£9.1bUK£17.1bUK£593.9m19.8x15.3x0.5x
Mon, 07 Apr 2025UK£8.3bUK£17.1bUK£591.6m19.2x14x0.5x
Wed, 05 Mar 2025UK£9.7bUK£17.1bUK£578.3m16.9x16.8x0.6x
Fri, 31 Jan 2025UK£10.2bUK£17.1bUK£577.3m17.9x17.6x0.6x
Sun, 29 Dec 2024UK£10.1bUK£17.1bUK£577.9m20.8x17.5x0.6x
Tue, 26 Nov 2024UK£10.6bUK£18.1bUK£169.9m23.2x62.3x0.6x
Thu, 24 Oct 2024UK£11.1bUK£18.2bUK£165.1m24.6x67x0.6x
Sat, 21 Sep 2024UK£11.4bUK£18.1bUK£153.3m24x74.5x0.6x
Mon, 19 Aug 2024UK£11.9bUK£18.2bUK£150.9m26.2x78.5x0.7x
Wed, 17 Jul 2024UK£12.2bUK£18.2bUK£189.7m29.9x64.5x0.7x
Fri, 14 Jun 2024UK£12.7bUK£18.2bUK£191.3m29.9x66.2x0.7x
Sun, 12 May 2024UK£14.0bUK£19.6bUK£285.9m24.3x49x0.7x
Tue, 09 Apr 2024UK£13.3bUK£19.6bUK£285.9m21x46.6x0.7x
Thu, 07 Mar 2024UK£12.9bUK£19.8bUK£122.3m17.6x105.5x0.7x
Sat, 03 Feb 2024UK£13.1bUK£20.0bUK£140.3m17.8x93.7x0.7x
Mon, 01 Jan 2024UK£13.7bUK£20.0bUK£140.9m19.5x97.2x0.7x
Wed, 29 Nov 2023UK£12.7bUK£20.0bUK£153.7m17.4x82.4x0.6x
Fri, 27 Oct 2023UK£11.8bUK£20.9bUK£256.9m16.3x45.9x0.6x
Sun, 24 Sep 2023UK£13.2bUK£20.8bUK£220.2m17x59.9x0.6x
Tue, 22 Aug 2023UK£13.6bUK£21.0bUK£356.2m24.6x38.1x0.6x
Thu, 20 Jul 2023UK£15.0bUK£21.2bUK£799.8m17.8x18.8x0.7x
Price to Earnings Ratio

18.8x


Total Market Cap: UK£15.0bTotal Earnings: UK£799.8mTotal Revenue: UK£21.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Chemicals Industry Price to Earnings3Y Average -16.4x202420252026
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 0.61x.
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 6.5% per year, which is driving profits down.

Industry Trends

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

GB Market-1.66%
Materials-3.71%
Chemicals-3.46%
Industrial Gases0.22%
Fertilizers and Agricultural Chemicals-1.15%
Commodity Chemicals-2.67%
Specialty Chemicals-3.54%
Industry PE
  • Investors are most optimistic about the Commodity Chemicals industry even though it's trading below its 3-year average PE ratio of 31.0x.
    • Analysts are expecting annual earnings growth of 29.6%, which is higher than its past year's earnings decline of 81.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Specialty Chemicals industry, expecting annual earnings growth of 32% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Industrial Gases industry is expected to see its earnings decline by 56% 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
VCT VictrexUK£6.7714.7%
+UK£75.8m		-6.1%PS2x
IOF IofinaUK£0.5813.7%
+UK£13.4m		137.7%PE18.9x
HDD HardideUK£0.712.9%
+UK£1.6m		787.5%PE38.1x
HEX Helix ExplorationUK£0.241.3%
+UK£836.5k		-6.0%PB3.9x

Latest News

ELM
UK£1.57
Elementis
7D
-1.8%
1Y
-6.0%
HEX
UK£0.24
Helix Exploration
7D
1.3%
1Y
-6.0%
JMAT
UK£19.02
Johnson Matthey
7D
-5.6%
1Y
2.0%
SYNT
UK£0.84
Synthomer
7D
-4.9%
1Y
-14.7%
HAYD
UK£0.0028
Haydale
7D
-4.4%
1Y
-68.7%
SNOX
UK£0.55
SulNOx Group
7D
-8.3%
1Y
-12.0%
ESNT
UK£0.83
Essentra
7D
-2.6%
1Y
-24.9%
Narrative Update • Jun 24

ESNT: Discount Rate And P/E Reset Will Support Future Upside

Analysts have trimmed their Essentra price targets by £0.10 after recent research updates, citing modest adjustments to the discount rate and future P/E assumptions while leaving fair value and core operating expectations broadly unchanged. Analyst Commentary Recent research on Essentra highlights a mix of optimism and caution, with the latest price target trim of £0.10 framed more as a technical adjustment than a reset of the core thesis.
VCT
UK£6.77
Victrex
7D
14.7%
1Y
-6.1%
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.
CRDA
UK£28.97
Croda International
7D
-4.9%
1Y
-2.7%
Narrative Update • Jun 16

CRDA: Mixed Broker Revisions And Execution Risks Will Shape Future P/E Path

Croda International's analyst price targets have shifted higher to £32.00 from £30.00, as analysts cite updated assumptions around revenue growth, profit margins and a slightly lower discount rate, along with a modestly adjusted future P/E expectation. Analyst Commentary Recent research on Croda International highlights a mix of optimism and caution, with several firms adjusting ratings and price targets as they reassess the company’s growth prospects, profit outlook and valuation framework.
ZTF
UK£4.42
Zotefoams
7D
-2.9%
1Y
39.9%
Narrative Update • Jun 15

ZTF: Solid 2026 Outlook And Confirmed Dividend Will Support Repricing Potential

Analysts have kept their £6.13 price target for Zotefoams unchanged, citing only small adjustments in assumptions for the discount rate, revenue growth, profit margin and future P/E as the basis for maintaining their view. What's in the News Zotefoams issued full-year 2026 earnings guidance, stating that expectations remain unchanged and that a solid start to 2026 supports its outlook.
HDD
UK£0.71
Hardide
7D
2.9%
1Y
787.5%
IOF
UK£0.58
Iofina
7D
13.7%
1Y
137.7%