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U.K. (FTSE) Chemicals Industry Analysis

UpdatedMar 21, 2026
DataAggregated Company Financials
Companies20
  • 7D-5.7%
  • 3M-12.9%
  • 1Y-3.7%
  • YTD-13.2%

Over the last 7 days, the Chemicals industry has dropped 8.0%, driven by a pullback from Johnson Matthey of 6.8%. In contrast, Synthomer has gained 50%. The industry has fallen 7.1% in the last year. Looking forward, 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
Sat, 21 Mar 2026UK£8.8bUK£16.7b-UK£20,073,324.2017.5x-437x0.5x
Mon, 16 Feb 2026UK£10.8bUK£16.8b-UK£37,636,291.8927.5x-286.2x0.6x
Wed, 14 Jan 2026UK£10.3bUK£16.8b-UK£32,437,148.9821.5x-318.4x0.6x
Fri, 12 Dec 2025UK£9.7bUK£16.8b-UK£40,905,375.0723.8x-238x0.6x
Sun, 09 Nov 2025UK£9.8bUK£16.8bUK£423.1m18.4x23.3x0.6x
Tue, 07 Oct 2025UK£10.0bUK£16.8bUK£424.2m20.3x23.6x0.6x
Thu, 04 Sep 2025UK£9.2bUK£16.7bUK£432.3m22.1x21.2x0.5x
Sat, 02 Aug 2025UK£9.1bUK£16.8bUK£432.7m21x21.1x0.5x
Mon, 30 Jun 2025UK£9.9bUK£16.8bUK£450.0m22.6x22.1x0.6x
Wed, 28 May 2025UK£9.7bUK£16.8bUK£448.2m22.1x21.7x0.6x
Fri, 25 Apr 2025UK£8.6bUK£17.1bUK£594.3m18.8x14.5x0.5x
Sun, 23 Mar 2025UK£9.1bUK£17.1bUK£579.8m20.2x15.7x0.5x
Tue, 18 Feb 2025UK£10.0bUK£17.1bUK£577.8m17.7x17.3x0.6x
Thu, 16 Jan 2025UK£9.8bUK£17.1bUK£576.3m19x17x0.6x
Sat, 14 Dec 2024UK£10.3bUK£17.1bUK£583.6m17.8x17.7x0.6x
Mon, 11 Nov 2024UK£10.7bUK£18.2bUK£164.9m23.9x64.7x0.6x
Wed, 09 Oct 2024UK£11.6bUK£18.1bUK£165.6m23.3x70.2x0.6x
Fri, 06 Sep 2024UK£11.7bUK£18.1bUK£154.9m26.2x75.4x0.6x
Sun, 04 Aug 2024UK£12.0bUK£18.2bUK£130.6m26.6x91.9x0.7x
Tue, 02 Jul 2024UK£11.9bUK£18.2bUK£189.6m29.3x62.6x0.7x
Thu, 30 May 2024UK£13.3bUK£18.2bUK£186.0m32.6x71.6x0.7x
Sat, 27 Apr 2024UK£13.3bUK£19.6bUK£286.4m23.5x46.4x0.7x
Mon, 25 Mar 2024UK£14.0bUK£19.5bUK£265.6m21.3x52.9x0.7x
Wed, 21 Feb 2024UK£13.4bUK£20.0bUK£144.3m17.9x92.6x0.7x
Fri, 19 Jan 2024UK£12.4bUK£20.0bUK£140.7m17.9x88x0.6x
Sun, 17 Dec 2023UK£13.5bUK£20.0bUK£140.4m19.3x96.3x0.7x
Tue, 14 Nov 2023UK£12.6bUK£20.8bUK£229.2m15.9x55.1x0.6x
Thu, 12 Oct 2023UK£12.4bUK£20.8bUK£258.1m17x48.1x0.6x
Sat, 09 Sep 2023UK£13.8bUK£20.8bUK£221.2m23.5x62.2x0.7x
Mon, 07 Aug 2023UK£14.8bUK£21.0bUK£337.2m27.5x44x0.7x
Wed, 05 Jul 2023UK£14.5bUK£21.2bUK£803.1m16.4x18.1x0.7x
Fri, 02 Jun 2023UK£15.7bUK£21.2bUK£802.5m15.1x19.5x0.7x
Sun, 30 Apr 2023UK£17.7bUK£21.1bUK£836.7m16.6x21.1x0.8x
Tue, 28 Mar 2023UK£16.7bUK£21.9bUK£999.0m16.3x16.7x0.8x
Price to Earnings Ratio

16.7x


Total Market Cap: UK£16.7bTotal Earnings: UK£999.0mTotal Revenue: UK£21.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Chemicals Industry Price to Earnings3Y Average 9.1x202420252026
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 8.5% per year, which is driving profits down.

Industry Trends

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

GB Market-3.50%
Materials-6.04%
Chemicals-5.73%
Fertilizers and Agricultural Chemicals1.49%
Industrial Gases0.58%
Commodity Chemicals-3.75%
Specialty Chemicals-5.94%
Industry PE
  • Investors are most optimistic about the Commodity Chemicals industry even though it's trading below its 3-year average PE ratio of 27.0x.
    • Analysts are expecting annual earnings growth of 33.4%, which is higher than its past year's earnings decline of 81.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Commodity Chemicals industry, expecting annual earnings growth of 33% over the next 5 years.
  • This is better than its past earnings decline of 82% per year.
  • In contrast, the Fertilizers and Agricultural Chemicals industry is expected to see its earnings grow by 8.6% 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
SYNT SynthomerUK£0.2749.5%
+UK£14.6m		-76.9%PS0.02x
ATOM AtomeUK£0.584.5%
+UK£1.3m		87.2%PB24.4x
HEX Helix ExplorationUK£0.340.6%
+UK£416.7k		144.0%PB5.3x
HMI Harvest MineralsUK£0.004321.4%
+UK£377.4k		6.3%PS2.1x

Latest News

VCT
UK£5.39
Victrex
7D
-12.1%
1Y
-43.2%

VCT: Future Upside Will Be Anchored By Resilient Earnings Framework

Analysts have trimmed their price target on Victrex by £1.00, reflecting slightly lower fair value estimates and modestly softer assumptions for revenue growth and profit margins, while still using a similar discount rate and future P/E multiple. Analyst Commentary Bullish Takeaways Bullish analysts view the £1.00 reduction in the price target as a fine tuning of fair value rather than a shift in the long term thesis, with the core assumptions on discount rate and future P/E multiple kept broadly intact.
CRDA
UK£25.54
Croda International
7D
-4.6%
1Y
-11.6%

CRDA: Higher Price Move To 3,280 And Modest P/E Reset Signal Upside

Narrative Update The analyst price target for Croda International has been raised to £3,280, an increase of £250. Analysts reference recent target moves from major banks, along with small adjustments to revenue growth, profit margin, discount rate and future P/E assumptions.
ELM
UK£1.44
Elementis
7D
-5.8%
1Y
3.3%
JMAT
UK£17.88
Johnson Matthey
7D
-6.8%
1Y
28.9%

JMAT: Future Returns Will Balance Cautious Outlook With Higher Margin Expectations

Johnson Matthey's analyst fair value estimate has been raised from £13.95 to £19.00, even as price targets across the Street have been reset lower into a tighter £2,000 to £2,250 range. This reflects analysts' view that improved margin assumptions and a slightly lower future P/E balance a more cautious revenue outlook.
ZTF
UK£3.53
Zotefoams
7D
-6.9%
1Y
19.7%

ZTF: 2025 Revenue Guidance Will Support Margin Recovery And Repricing Potential

Analysts have slightly adjusted their price target for Zotefoams to £6.13 from £6.06, reflecting updated views on discount rates, profit margins, and future P/E assumptions. What's in the News Zotefoams issued unaudited earnings guidance for the year ending 31 December 2025, giving investors a view on expected performance over the next reporting period (Key Developments).
SNOX
UK£0.47
SulNOx Group
7D
-11.3%
1Y
-53.0%
SYNT
UK£0.27
Synthomer
7D
49.5%
1Y
-76.9%

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).
HMI
UK£0.0043
Harvest Minerals
7D
21.4%
1Y
6.3%
HEX
UK£0.34
Helix Exploration
7D
0.6%
1Y
144.0%
HAYD
UK£0.0031
Haydale
7D
-19.7%
1Y
134.6%
TET
UK£1.88
Treatt
7D
-9.4%
1Y
-47.0%
ATOM
UK£0.58
Atome
7D
4.5%
1Y
87.2%