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U.K. (FTSE) Tech Sector Analysis

UpdatedSep 17, 2026
DataAggregated Company Financials
Companies107
  • 7D-1.0%
  • 3M2.0%
  • 1Y13.0%
  • YTD12.8%

Over the last 7 days, the Tech industry has dropped 1.0%, driven by a pullback from Halma of 1.7%. Meanwhile, Sage Group actually outperformed within the industry, gaining 5.5% in the last week. This takes the industry's 12 month performance to a gain of 13%. Earnings are forecast to grow by 18% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 17 Sep 2026UK£49.6bUK£26.9bUK£1.1b28.2x45.7x1.8x
Sat, 15 Aug 2026UK£51.1bUK£24.1bUK£982.5m27.5x52.1x2.1x
Mon, 13 Jul 2026UK£47.3bUK£24.1bUK£993.8m22.7x47.6x2x
Wed, 10 Jun 2026UK£51.5bUK£24.0bUK£1.0b26.4x51.4x2.1x
Fri, 08 May 2026UK£50.8bUK£24.0bUK£1.0b28.3x49.4x2.1x
Sun, 05 Apr 2026UK£43.4bUK£24.0bUK£1.0b29x43.1x1.8x
Tue, 03 Mar 2026UK£45.8bUK£22.3bUK£1.0b32.1x45.5x2.1x
Thu, 29 Jan 2026UK£45.8bUK£22.2bUK£1.0b32.8x45.2x2.1x
Sat, 27 Dec 2025UK£45.3bUK£22.3bUK£996.0m29.8x45.5x2x
Mon, 24 Nov 2025UK£50.4bUK£23.9bUK£944.8m28.1x53.3x2.1x
Wed, 22 Oct 2025UK£51.2bUK£23.2bUK£883.6m29x58x2.2x
Fri, 19 Sep 2025UK£52.1bUK£23.5bUK£1.1b29.9x49.6x2.2x
Sun, 17 Aug 2025UK£50.1bUK£22.7bUK£1.1b29.8x47.7x2.2x
Tue, 15 Jul 2025UK£52.5bUK£22.8bUK£1.2b31.8x42.4x2.3x
Thu, 12 Jun 2025UK£52.7bUK£22.9bUK£1.2b29.4x42.2x2.3x
Sat, 10 May 2025UK£50.2bUK£23.0bUK£1.3b26.3x39.9x2.2x
Mon, 07 Apr 2025UK£45.1bUK£23.0bUK£1.2b21x36.5x2x
Wed, 05 Mar 2025UK£48.9bUK£22.5bUK£1.2b24.6x40.4x2.2x
Fri, 31 Jan 2025UK£52.8bUK£22.6bUK£1.2b27x42.7x2.3x
Sun, 29 Dec 2024UK£50.6bUK£22.6bUK£1.2b28.4x40.9x2.2x
Tue, 26 Nov 2024UK£51.0bUK£22.6bUK£1.3b29x40.6x2.3x
Thu, 24 Oct 2024UK£48.7bUK£23.0bUK£1.1b25.6x43.7x2.1x
Sat, 21 Sep 2024UK£54.0bUK£23.4bUK£1.2b26.6x44.5x2.3x
Mon, 19 Aug 2024UK£55.8bUK£24.0bUK£1.3b28.6x44.1x2.3x
Wed, 17 Jul 2024UK£57.7bUK£24.2bUK£1.2b27.9x49.1x2.4x
Fri, 14 Jun 2024UK£56.3bUK£24.0bUK£1.1b29.2x50.2x2.3x
Sun, 12 May 2024UK£54.8bUK£24.0bUK£999.6m28x54.9x2.3x
Tue, 09 Apr 2024UK£52.6bUK£24.1bUK£883.6m28.5x59.6x2.2x
Thu, 07 Mar 2024UK£53.5bUK£24.3bUK£876.5m31.1x61x2.2x
Sat, 03 Feb 2024UK£73.7bUK£31.4bUK£937.8m29x78.5x2.3x
Mon, 01 Jan 2024UK£74.1bUK£31.4bUK£948.4m27.8x78.2x2.4x
Wed, 29 Nov 2023UK£70.7bUK£32.0bUK£1.0b26.6x69.1x2.2x
Fri, 27 Oct 2023UK£66.0bUK£32.0bUK£1.0b26.1x65.9x2.1x
Sun, 24 Sep 2023UK£71.4bUK£31.8bUK£1.0b28.1x69.3x2.2x
Price to Earnings Ratio

69.3x


Total Market Cap: UK£71.4bTotal Earnings: UK£1.0bTotal Revenue: UK£31.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Tech Sector Price to Earnings3Y Average 50.4x202420252026
Current Industry PE
  • Investors are pessimistic on the British Information Technology industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 45.7x which is lower than its 3-year average PE of 50.4x.
  • The 3-year average PS ratio of 2.2x is higher than the industry's current PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have declined 5.4% per year.
  • This means that the cost of doing business could be reducing since sales have declined but profits have remained steady.

Industry Trends

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

GB Market-0.12%
Tech-1.01%
Software3.02%
IT2.06%
Electronic Equipment and Components-4.32%
Tech Hardware-6.14%
Communications-7.43%
Semiconductors-9.23%
Industry PE
  • Investors are most optimistic about the Tech Hardware industry even though it's trading below its 3-year average PE ratio of 1kx.
    • Analysts are expecting annual earnings growth of 11.1%, which is lower than the prior year's growth of 46.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 83% over the next 5 years.
  • This is better than its past earnings decline of 80% per year.
  • In contrast, the Tech Hardware industry is expected to see its earnings grow by 11% 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
SGE Sage GroupUK£10.345.5%
+UK£486.5m		-6.4%PE24.1x
CCC ComputacenterUK£53.804.9%
+UK£262.4m		118.3%PE27.6x
SCT SoftcatUK£19.687.1%
+UK£255.2m		24.2%PE27.4x
BYIT Bytes Technology GroupUK£4.5016.0%
+UK£144.1m		11.1%PE20.4x
RSW RenishawUK£51.703.8%
+UK£136.8m		47.1%PE50.7x

Latest News

SCT
UK£19.68
Softcat
7D
7.1%
1Y
24.2%
APTD
UK£2.50
Aptitude Software Group
7D
16.0%
1Y
-16.7%
BYIT
UK£4.50
Bytes Technology Group
7D
16.0%
1Y
11.1%
KNOS
UK£12.16
Kainos Group
7D
3.6%
1Y
37.6%
ACSO
UK£2.80
accesso Technology Group
7D
-9.7%
1Y
-35.6%
CER
UK£7.50
Cerillion
7D
-15.7%
1Y
-46.4%
Narrative Update • Sep 14

CER: Agentic AI Event Showcases Will Support Future Upside Potential

Analysts have reduced their price target for Cerillion to £10.37 from £14.88. This reflects updated assumptions for slower revenue growth, a slightly higher discount rate and a lower future P/E multiple, partly offset by a small increase in projected profit margins.
CCC
UK£53.80
Computacenter
7D
4.9%
1Y
118.3%
Analysis Article • Sep 13

Analysts Just Made A Notable Upgrade To Their Computacenter plc (LON:CCC) Forecasts

Shareholders in Computacenter plc ( LON:CCC ) may be thrilled to learn that the analysts have just delivered a major...
IQE
UK£0.41
IQE
7D
-9.6%
1Y
428.2%
CNC
UK£2.50
Concurrent Technologies
7D
-3.8%
1Y
12.6%
RSW
UK£51.70
Renishaw
7D
3.8%
1Y
47.1%
HLMA
UK£35.28
Halma
7D
-1.7%
1Y
4.3%
Narrative Update • Sep 10

HLMA: Conviction Upgrade And Avo Discount Will Likely Keep Shares Balanced

Halma's analyst fair value estimate has moved from £33.74 to £36.50 as analysts point to a higher blended price target, citing recent upgrades, inclusion on a conviction list, and comments that the core business is performing well while Avo is valued at a discount. Analyst Commentary Recent research on Halma gives you a mix of supportive and cautious messages.
SOLI
UK£1.73
Solid State
7D
-10.2%
1Y
4.5%
RPI
UK£5.42
Raspberry Pi Holdings
7D
-5.1%
1Y
32.6%
SGE
UK£10.34
Sage Group
7D
5.5%
1Y
-6.4%
Narrative Update • Sep 03

SGE: Fair Value, AI Adoption And Execution Will Shape Future Returns

The updated analyst price target for Sage Group reflects a modest fair value increase to £11.20 from £10.79. This is supported by Street research that has raised price targets into a £1,000 to £1,245 range and cites steadier discount rate assumptions, slightly higher revenue growth expectations and a marginally higher future P/E multiple.
FTC
UK£2.36
Filtronic
7D
-3.5%
1Y
75.8%
Analysis Article • Aug 11

Filtronic's (LON:FTC) Problems Go Beyond Weak Profit

The subdued market reaction suggests that Filtronic plc's ( LON:FTC ) recent earnings didn't contain any surprises. We...
SWC
UK£0.44
Smarter Web
7D
32.9%
1Y
-52.4%