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

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 0.62x.

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

Investors are most optimistic about the Commodity Chemicals industry even though it's trading below its 3-year average PE ratio of 30.4x. Analysts are expecting annual earnings growth of 29.9%, which is higher than its past year's earnings decline of 81.9% per year.

U.K. (FTSE) Chemicals Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Fri, 26 Jun 2026	UK£10.5b	UK£17.5b	-UK£137,719,257.19	28.5x	-76x	0.6x
Sun, 24 May 2026	UK£10.5b	UK£16.6b	-UK£140,676,975.71	22.7x	-74.9x	0.6x
Tue, 21 Apr 2026	UK£10.2b	UK£16.7b	-UK£20,800,033.10	20x	-489.5x	0.6x
Thu, 19 Mar 2026	UK£9.2b	UK£16.7b	-UK£19,868,438.12	18.5x	-461.3x	0.5x
Sat, 14 Feb 2026	UK£10.8b	UK£16.8b	-UK£37,671,386.67	27.5x	-285.9x	0.6x
Mon, 12 Jan 2026	UK£10.2b	UK£16.8b	-UK£32,507,617.07	21.7x	-314.9x	0.6x
Wed, 10 Dec 2025	UK£9.7b	UK£16.8b	-UK£41,235,332.57	23.5x	-234.6x	0.6x
Fri, 07 Nov 2025	UK£9.9b	UK£16.8b	UK£422.9m	18.1x	23.3x	0.6x
Sun, 05 Oct 2025	UK£10.1b	UK£16.8b	UK£424.2m	20.8x	23.7x	0.6x
Tue, 02 Sep 2025	UK£9.3b	UK£16.7b	UK£432.7m	22.3x	21.4x	0.6x
Thu, 31 Jul 2025	UK£9.1b	UK£16.8b	UK£427.8m	21.1x	21.2x	0.5x
Sat, 28 Jun 2025	UK£9.9b	UK£16.8b	UK£450.0m	22.6x	22.1x	0.6x
Mon, 26 May 2025	UK£9.6b	UK£16.8b	UK£448.3m	21.9x	21.5x	0.6x
Wed, 23 Apr 2025	UK£8.2b	UK£17.1b	UK£594.3m	18.3x	13.7x	0.5x
Fri, 21 Mar 2025	UK£9.4b	UK£17.1b	UK£579.9m	21.2x	16.3x	0.6x
Sun, 16 Feb 2025	UK£10.1b	UK£17.1b	UK£577.7m	17.8x	17.5x	0.6x
Tue, 14 Jan 2025	UK£9.6b	UK£16.8b	UK£559.0m	16.7x	17.3x	0.6x
Thu, 12 Dec 2024	UK£10.5b	UK£17.1b	UK£584.0m	18.1x	18x	0.6x
Sat, 09 Nov 2024	UK£10.7b	UK£18.2b	UK£165.1m	23.9x	64.6x	0.6x
Mon, 07 Oct 2024	UK£12.0b	UK£18.1b	UK£165.6m	24.2x	72.2x	0.7x
Wed, 04 Sep 2024	UK£11.9b	UK£18.1b	UK£154.7m	25.8x	76.9x	0.7x
Fri, 02 Aug 2024	UK£12.1b	UK£18.1b	UK£179.7m	28.8x	67.6x	0.7x
Sun, 30 Jun 2024	UK£11.9b	UK£18.2b	UK£189.7m	29.4x	62.9x	0.7x
Tue, 28 May 2024	UK£13.6b	UK£18.2b	UK£186.0m	33.5x	73.1x	0.7x
Thu, 25 Apr 2024	UK£13.3b	UK£19.6b	UK£286.4m	23.1x	46.3x	0.7x
Sat, 23 Mar 2024	UK£14.0b	UK£19.5b	UK£265.6m	21.3x	52.9x	0.7x
Mon, 19 Feb 2024	UK£13.5b	UK£20.0b	UK£144.2m	18x	93.7x	0.7x
Wed, 17 Jan 2024	UK£12.5b	UK£20.0b	UK£140.2m	18.2x	89.4x	0.6x
Fri, 15 Dec 2023	UK£13.7b	UK£20.0b	UK£141.0m	19.5x	97.3x	0.7x
Sun, 12 Nov 2023	UK£12.6b	UK£20.8b	UK£228.8m	15.3x	55.1x	0.6x
Tue, 10 Oct 2023	UK£12.2b	UK£20.8b	UK£257.7m	16.7x	47.2x	0.6x
Thu, 07 Sep 2023	UK£13.9b	UK£21.0b	UK£354.3m	23.9x	39.2x	0.7x
Sat, 05 Aug 2023	UK£14.8b	UK£21.0b	UK£337.5m	27.5x	43.9x	0.7x
Mon, 03 Jul 2023	UK£14.4b	UK£21.2b	UK£803.1m	16.3x	17.9x	0.7x


GB Market	0.80%
Materials	-6.73%
Chemicals	-2.48%
Specialty Chemicals	-2.32%
Commodity Chemicals	-4.38%
Fertilizers and Agricultural Chemicals	-5.17%
Industrial Gases	-9.43%

Company	Last Price	7D	1Y	Valuation
CRDA Croda International	UK£31.75	0.8% +UK£36.4m	6.7%	PE71.7x
SNOX SulNOx Group	UK£0.63	19.0% +UK£14.5m	4.2%	PS48x
ELM Elementis	UK£1.58	1.3% +UK£11.5m	-2.2%	PE19.2x
TET Treatt	UK£3.04	0.2% +UK£295.2k	19.0%	PE41.6x
RIFT Rift Helium	UK£0.074	0.7% +UK£67.1k	n/a	PB14.8x

Announcement • Jun 22

Rift Helium PLC Provides Post-IPO Operational Update and 12-Month Catalyst Schedule

Rift Helium PLC provided an update on progress since its admission to AIM in April 2026, together with an outline of the Company's planned work programme and key expected catalysts for the next 12 months. Rift has moved straight from IPO funding into execution. The Company is advancing key regulatory, technical, operational and stakeholder workstreams required to progress its planned 3D seismic programme in 2026 and prepare for drilling in the First Half 2027. The Company remains fully funded for its current exploration work programme following the GBP 8.1 million raised at IPO and continues to focus on disciplined, capital-efficient exploration designed to rank and test the most attractive structural helium targets across the Upepo Project. Since admission to AIM, Rift has advanced a number of parallel workstreams required to progress the Upepo Project towards 3D seismic acquisition and drilling. These include: progression of the Environmental Impact Assessment process with the National Environment Management Council in Tanzania; continued engagement with relevant Tanzanian government ministries, regulators and regional stakeholders; planning and procurement for the proposed 3D seismic programme; technical review and analysis of existing leads and prospects across the licence area; preparation for seismic processing, interpretation and subsequent drill target selection; early-stage drilling preparation, including well planning, logistics and procurement workstreams; further development of Rift's technical and in-country operating capability; and continued engagement with local community partners as part of the Company's commitment to responsible project development. The Company expects the next 12 months to include a number of important operational and technical milestones, including: completion of the Environmental Impact Assessment and related regulatory approvals process; award of the seismic acquisition contract; mobilisation for the 3D seismic programme; acquisition of 3D seismic data over the priority area of the Upepo Project; processing and interpretation of the acquired seismic data; potential updated resource assessment following interpretation of the new 3D seismic data; refinement and ranking of drill targets; commencement of well planning and drilling procurement; and preparation for the Company's planned First Half 2027 drilling campaign. These workstreams are designed to move Rift from an IPO-funded exploration company into an active operator with a defined, ranked drilling inventory in Tanzania's proven Rukwa Basin.

Announcement • Jun 02

Helix Exploration Announces Noble Gas Isotope Results from Rudyard Helium Project

Helix Exploration PLC announced the results of independent noble gas isotope analyses conducted across its three producing helium wells and production gas stream at Rudyard. Samples were analyzed by Dr. Peter Barry at Woods Hole Oceanographic Institution (WHOI) using a noble gas mass spectrometry in May 2026. Helium-3 to helium-4 ratios (3He/4He) are approximately 33 times above typical crustal helium values and carry approximately 1% helium in the raw well gas stream across all three producing wells. He isotopes consistently range from 0.665-0.690 relative to air (Ra) - indicating predominantly crustal gases (92%) and a whiff of mantle (8%). Consistency across all three wells (0.665-0.690 Ra) is a strong geological indicator that the Company is drawing from a single, uniform deep reservoir. Production gas stream records 855 parts per billion helium-3, following purification at Helix's Rudyard plant. Argon isotope signature (4°Ar/³6Ar: 7,950-9,665) is 27-33 times above atmospheric values and carries approximately 1,500 parts per million argon in the raw well gas stream. The profile is consistent with a potential underground argon source. Direct ³?Ar analysis is currently being arranged. Neon isotope ratios confirm crust and mantle noble gas components. Helium-3 Isotope Results: Sample ³He/4He Ratio (Ra) vs. Typical Crustal ³He concentration: Darwin-1 Well 0.665 Ra approximately 33 times above typical crustal 9.95 ppb ³He; Linda-1 Well approximately 0.675 Ra approximately 34 times above typical crustal 10.23 ppb ³He; Weil-1 Well approximately 0.685 Ra approximately 34 times above typical crustal 9.46 ppb ³He; Production Gas Stream 0.690 Ra approximately 35 times above typical crustal 855 ppb ³He. Ra = atmospheric ³He/4He reference (1.384 × 10?6). Typical crustal helium: approximately 0.02 Ra (range 0.01-0.05 Ra). Mantle reference: 8 Ra. Production gas concentrated to approximately 89.6% helium-4 at Helix's Rudyard plant; 855 ppb ³He reflects this concentration. The same analyses reveals a potentially significant argon finding. Argon that has been sealed deep underground for millions of years - shielded from cosmic radiation - becomes depleted in a naturally radioactive isotope called argon-39. This 'underground argon' is rare and is in high demand from the global physics community for use in ultra-sensitive dark matter detectors, where even trace radioactive contamination must be eliminated. There is currently only one known commercial source of underground argon in the world - a CO2 field in Cortez, Colorado - where the Global Argon Dark Matter Collaboration (GADMC), a consortium including Princeton University, ETH Zürich, and leading European physics laboratories, is extracting 120 tonnes for the DarkSide-20k dark matter experiment in Italy. There is no established commodity price; its value is defined by its unique scarcity. Helix's argon isotope results show that the argon in Rudyard's wells has the indications of gas that has been completely sealed underground for a long time, with no mixing with the atmosphere - the same geological characteristic that underpins known underground argon sources. High 40Ar/36Ar values (>8,000) are on par with those measured from Cortez (approximately 11,000), suggesting a similar deep source for the argon at Rudyard. These argon isotope ratios are 27 to 33 times above normal atmospheric values, and the wells carry approximately 1,500 parts per million argon in the raw gas stream. Furthermore, He/Ne values exceeding 60,000 confirm that Rudyard gas streams have experienced very little mixing with the modern atmosphere. These characteristics, together with the crust-mantle mixed helium and neon isotope signatures, paint a consistent picture of a deep, ancient, isolated reservoir. The Company has not yet carried out the specific test - a direct measurement of argon-39 - needed to confirm whether Rudyard's argon qualifies as underground argon. That measurement requires specialist equipment available at only a small number of laboratories worldwide, and Helix is actively making those arrangements. Until that test is completed, no equivalence to Cortez can be claimed. If the result is favorable, it would represent a discovery of considerable scientific and commercial significance and would position Rudyard as a potential second source of underground argon in the world. The concentration of argon-40 is approximately 3 times higher (approximately 1,500 ppm) at Rudyard versus reported concentrations at Cortez of approximately 600 ppm. The convergence of an exceptional ³He/4He signature, elevated mantle neon isotopes, and a highly radiogenic argon profile provides strong geochemical evidence that Rudyard draws from a deep, ancient, and isolated noble gas reservoir. These characteristics directly underpin the field's helium production and - pending 39Ar confirmation - may establish Rudyard as one of the most geochemically significant noble gas accumulations in North America. In accordance with the AIM Note for Mining and Oil and Gas Companies, Dr. Peter Barry, Associate Scientist with Tenure at WHOI, has reviewed the technical information contained herein. Dr. Barry has a PhD in geochemistry and approximately 20 years of experience working with noble gases. He has worked closely with the oil and gas industry for more than a decade.

U.K. (FTSE) Chemicals Industry Analysis

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Latest News

New minor risk - Profitability

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

Consensus estimates of losses per share improve by 43%

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

Rift Helium PLC Provides Post-IPO Operational Update and 12-Month Catalyst Schedule

ELM: New Audit Oversight Will Support Future Upside Potential

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

JMAT: Lower Discount Rate And Higher P/E Assumptions Will Support Future Upside

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

TET: Lowered Price View Will Focus On Takeover Offer Downside Risk

Helix Exploration Announces Noble Gas Isotope Results from Rudyard Helium Project

First half 2026 earnings released: EPS: UK£0.016 (vs UK£0.001 loss in 1H 2025)

Chairman & Company Secretary recently bought UK£2.9m worth of stock