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U.K. (FTSE) Materials Sector Analysis

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies159
  • 7D-8.8%
  • 3M5.5%
  • 1Y73.3%
  • YTD16.1%

Over the last 7 days, the Materials industry has dropped 8.8%, driven by a pullback from Rio Tinto Group of 8.0%. On the other hand Anglo Asian Mining is actually up 15%. This takes the industry's 12 month performance to a gain of 73%. Earnings are forecast to grow by 18% annually.

Sector Valuation and Performance

Has the U.K. Materials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Jun 2026UK£319.6bUK£292.3bUK£9.1b17.3x35.2x1.1x
Fri, 22 May 2026UK£338.6bUK£286.8bUK£8.9b17.9x38.2x1.2x
Sun, 19 Apr 2026UK£335.6bUK£285.3bUK£8.9b19.6x37.7x1.2x
Tue, 17 Mar 2026UK£302.7bUK£290.8bUK£9.4b19.5x32.3x1x
Thu, 12 Feb 2026UK£328.9bUK£272.4bUK£6.2b23.6x52.8x1.2x
Sat, 10 Jan 2026UK£286.8bUK£276.8bUK£6.3b21.4x45.3x1x
Mon, 08 Dec 2025UK£254.4bUK£278.4bUK£6.4b19.8x39.7x0.9x
Wed, 05 Nov 2025UK£234.3bUK£283.9bUK£7.0b15.4x33.5x0.8x
Fri, 03 Oct 2025UK£229.8bUK£276.4bUK£6.8b17x33.8x0.8x
Sun, 31 Aug 2025UK£202.9bUK£274.8bUK£6.7b19.4x30.2x0.7x
Tue, 29 Jul 2025UK£202.2bUK£276.7bUK£6.9b15.5x29.5x0.7x
Thu, 26 Jun 2025UK£181.7bUK£270.9bUK£6.8b13.6x26.8x0.7x
Sat, 24 May 2025UK£194.6bUK£273.1bUK£6.9b16.5x28.3x0.7x
Mon, 21 Apr 2025UK£182.7bUK£278.0bUK£7.1b15.4x25.7x0.7x
Wed, 19 Mar 2025UK£208.4bUK£283.0bUK£7.2b15.8x28.8x0.7x
Fri, 14 Feb 2025UK£212.8bUK£291.9bUK£9.0b15.5x23.7x0.7x
Sun, 12 Jan 2025UK£214.3bUK£304.3bUK£9.4b15x22.9x0.7x
Tue, 10 Dec 2024UK£227.1bUK£292.3bUK£9.0b16.5x25.2x0.8x
Thu, 07 Nov 2024UK£226.8bUK£292.7bUK£8.8b17.2x25.8x0.8x
Sat, 05 Oct 2024UK£237.2bUK£288.2bUK£8.6b18.4x27.4x0.8x
Mon, 02 Sep 2024UK£220.2bUK£287.9bUK£8.6b16.8x25.5x0.8x
Wed, 31 Jul 2024UK£226.6bUK£286.0bUK£12.1b15.6x18.7x0.8x
Fri, 28 Jun 2024UK£239.0bUK£291.0bUK£13.7b15.3x17.4x0.8x
Sun, 26 May 2024UK£255.6bUK£289.7bUK£13.6b17.5x18.8x0.9x
Tue, 23 Apr 2024UK£243.5bUK£298.7bUK£14.1b15.2x17.2x0.8x
Thu, 21 Mar 2024UK£218.9bUK£290.4bUK£13.9b13x15.8x0.8x
Sat, 17 Feb 2024UK£224.1bUK£304.3bUK£19.6b11.1x11.5x0.7x
Mon, 15 Jan 2024UK£241.1bUK£347.3bUK£29.2b10.5x8.2x0.7x
Wed, 13 Dec 2023UK£237.2bUK£351.4bUK£29.5b10.3x8x0.7x
Fri, 10 Nov 2023UK£233.1bUK£358.9bUK£30.0b10x7.8x0.6x
Sun, 08 Oct 2023UK£264.3bUK£387.3bUK£32.5b10.4x8.1x0.7x
Tue, 05 Sep 2023UK£266.6bUK£378.3bUK£32.2b10.3x8.3x0.7x
Thu, 03 Aug 2023UK£274.5bUK£397.5bUK£38.1b10x7.2x0.7x
Sat, 01 Jul 2023UK£267.7bUK£402.1bUK£43.5b9.9x6.1x0.7x
Price to Earnings Ratio

6.1x


Total Market Cap: UK£267.7bTotal Earnings: UK£43.5bTotal Revenue: UK£402.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Materials Sector Price to Earnings3Y Average 24.1x202420252026
Current Industry PE
  • Investors are optimistic on the British Materials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 35.2x which is higher than its 3-year average PE of 24.1x.
  • The 3-year average PS ratio of 0.81x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 41% per year over the last three years,
  • Revenues have also declined 10% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

GB Market-1.14%
Materials-8.76%
Packaging-0.83%
Chemicals-1.39%
Basic Materials-2.84%
Paper and Forestry Products-3.49%
Metals and Mining-9.14%
Industry PE
  • Investors are most optimistic about the Metals and Mining industry which is trading above its 3-year average PE ratio of 24.0x.
    • Analysts are expecting annual earnings growth of 17.8%, which is lower than the prior year's growth of 87.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Chemicals industry, expecting annual earnings growth of 31% over the next 5 years.
  • This is better than its past earnings decline of 60% per year.
  • In contrast, the Packaging industry is expected to see its earnings grow by 4.0% 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
AAZ Anglo Asian MiningUK£3.9514.8%
+UK£58.3m		139.4%PE33.8x
EEE Empire MetalsUK£0.4012.7%
+UK£32.0m		33.3%PB16.6x
CRDA Croda InternationalUK£30.840.3%
+UK£14.0m		0.8%PE69.6x
GMET Guardian Metal ResourcesUK£2.402.2%
+UK£10.1m		344.8%PB17.8x
ARS Asiamet ResourcesUK£0.01611.4%
+UK£5.6m		79.4%PB25.5x

Latest News

ANTO
UK£37.40
Antofagasta
7D
-11.6%
1Y
115.6%
Narrative Update • Jun 23

ANTO: Rising Execution Risks Will Likely Cap Copper Upside Potential

Antofagasta's updated fair value estimate has risen from £23.50 to £26.50 per share. This reflects analysts' higher price targets and assumptions for stronger top line growth, offset by slightly lower profit margins and a higher future P/E multiple.
ATYM
UK£8.09
Atalaya Mining Copper
7D
-8.6%
1Y
78.0%
Narrative Update • Jun 22

ATYM: Rising Dividend Will Support Future Upside Despite Production Guidance Challenges

Analysts have nudged their price target on Atalaya Mining Copper higher to £10.99 from £10.66, citing updated assumptions that include slightly different discount rates, revenue growth, profit margin and future P/E inputs in their models. What’s in the News for Atalaya Mining Copper Atalaya Mining Copper issued production guidance for FY 2026, indicating expected copper output of 50,000 to 54,000 tonnes, with silver contained in concentrate projected at 0.9 to 1.1 million ounces, and current production trending toward the lower end of these ranges.
80M
UK£0.0091
80 Mile
7D
13.2%
1Y
243.4%
EEE
UK£0.40
Empire Metals
7D
12.7%
1Y
33.3%
GLEN
UK£5.35
Glencore
7D
-9.4%
1Y
94.6%
New Narrative • Jun 19

Copper Expansion And Political Risks Will Reshape Long Term Earnings Profile

Catalysts About Glencore Glencore is a diversified natural resources group involved in mining, processing and marketing of metals, energy products and other commodities. What are the underlying business or industry changes driving this perspective?
RIO
UK£72.64
Rio Tinto Group
7D
-8.0%
1Y
73.2%
Narrative Update • Jun 18

RIO: Fair Value View Balances EV Metals Upside And China Demand Risks

The analyst fair value estimate for Rio Tinto Group has been raised from £69.66 to £77.68, reflecting a series of higher Street price targets in the £6,400 to £9,300 range and updated assumptions for discount rate, revenue growth, and future P/E. Analyst Commentary Recent research on Rio Tinto Group points to a mixed but generally constructive stance on the stock, with most price targets clustering between £64 and £93 per share equivalent, and several analysts adjusting their models around valuation, execution on projects and commodity exposure.
PAF
UK£1.04
Pan African Resources
7D
-9.4%
1Y
121.3%
Narrative Update • Jun 18

PAF: Future Gold Production Guidance Will Support Premium Re Rating Potential

Analysts have trimmed their price target for Pan African Resources, with the headline cut of £0.16 reflecting updated assumptions around fair value, discount rate, revenue growth, profit margins and future P/E multiples. What's in the News for Pan African Resources Pan African Resources issued new production guidance for the second half of fiscal 2026, indicating gold output of about 147,000oz.
AAL
UK£37.10
Anglo American
7D
-9.4%
1Y
80.5%
Narrative Update • Jun 16

AAL: Copper Shift And Iron Ore Risks Will Shape Fairly Balanced Outlook

Anglo American's fair value estimate has moved from £36.80 to £38.39 as analysts adjust price targets higher by several hundred pence and highlight a shift in growth focus toward copper over iron ore, while also reflecting updated assumptions for revenue growth, profit margins and future P/E. Analyst Commentary Recent research on Anglo American highlights a split view, with several bullish analysts lifting price targets while more cautious voices flag earnings pressure in iron ore and execution risks around the shift toward copper.
FRES
UK£28.53
Fresnillo
7D
-12.6%
1Y
102.3%
Narrative Update • Jun 16

FRES: Higher Revenue Assumptions And Cost Discipline Will Support Re Rating Potential

The analyst price target for Fresnillo has shifted to reflect a modest fair value adjustment to £54.36, as analysts reassessed assumptions for revenue growth, profit margins and future P/E following a series of mixed target changes from Citi, Morgan Stanley, JPMorgan and Berenberg. Analyst Commentary Recent research on Fresnillo highlights a split in opinion, but there are clear areas where bullish analysts see room for the stock to better reflect their reassessed fair value assumptions.
HOC
UK£5.16
Hochschild Mining
7D
-14.7%
1Y
111.6%
CRDA
UK£30.84
Croda International
7D
0.3%
1Y
0.8%
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.
AAZ
UK£3.95
Anglo Asian Mining
7D
14.8%
1Y
139.4%
GMET
UK£2.40
Guardian Metal Resources
7D
2.2%
1Y
344.8%
ARS
UK£0.016
Asiamet Resources
7D
11.4%
1Y
79.4%
IOF
UK£0.53
Iofina
7D
3.9%
1Y
113.7%
PAT
UK£0.19
Panthera Resources
7D
10.1%
1Y
68.1%
Analysis Article • Jan 29

Will Panthera Resources (LON:PAT) Spend Its Cash Wisely?

There's no doubt that money can be made by owning shares of unprofitable businesses. By way of example, Panthera...