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U.K. (FTSE) Tech Sector Analysis

UpdatedApr 15, 2026
DataAggregated Company Financials
Companies114
  • 7D7.7%
  • 3M0.8%
  • 1Y13.1%
  • YTD3.8%

The Tech industry is up 7.7% in the last week, with Halma up 13%. In the last 12 months, the industry was up 13%. Looking forward, earnings are forecast to grow by 17% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 15 Apr 2026UK£46.1bUK£24.0bUK£985.5m31.9x46.8x1.9x
Fri, 13 Mar 2026UK£43.8bUK£23.7bUK£994.8m29.3x44x1.9x
Sun, 08 Feb 2026UK£42.9bUK£22.3bUK£1.0b31.4x42.4x1.9x
Tue, 06 Jan 2026UK£45.4bUK£22.3bUK£1.0b28.1x45x2x
Thu, 04 Dec 2025UK£51.2bUK£23.9bUK£919.5m29x55.6x2.1x
Sat, 01 Nov 2025UK£52.1bUK£23.6bUK£907.1m29.8x57.5x2.2x
Mon, 29 Sep 2025UK£51.5bUK£23.5bUK£1.0b30.2x50.5x2.2x
Wed, 27 Aug 2025UK£50.6bUK£22.7bUK£1.1b29.7x48.1x2.2x
Fri, 25 Jul 2025UK£52.1bUK£22.6bUK£1.3b30.9x41x2.3x
Sun, 22 Jun 2025UK£52.6bUK£23.0bUK£1.2b30.4x42.4x2.3x
Tue, 20 May 2025UK£50.2bUK£23.1bUK£1.3b27.1x39.9x2.2x
Thu, 17 Apr 2025UK£45.9bUK£22.9bUK£1.2b22.9x37.3x2x
Sat, 15 Mar 2025UK£48.0bUK£22.5bUK£1.2b23x39.6x2.1x
Mon, 10 Feb 2025UK£52.4bUK£22.6bUK£1.2b26.8x42.3x2.3x
Wed, 08 Jan 2025UK£51.0bUK£22.6bUK£1.2b28.1x41.2x2.3x
Fri, 06 Dec 2024UK£51.2bUK£22.6bUK£1.3b28.9x40.6x2.3x
Sun, 03 Nov 2024UK£46.8bUK£22.4bUK£1.1b27.5x41x2.1x
Tue, 01 Oct 2024UK£54.0bUK£23.4bUK£1.2b27.3x45.1x2.3x
Thu, 29 Aug 2024UK£55.4bUK£23.9bUK£1.3b28x44.2x2.3x
Sat, 27 Jul 2024UK£57.0bUK£24.2bUK£1.2b27.7x48.6x2.4x
Mon, 24 Jun 2024UK£58.1bUK£24.3bUK£1.2b28.7x49.3x2.4x
Wed, 22 May 2024UK£55.2bUK£23.9bUK£1.1b29.9x52x2.3x
Fri, 19 Apr 2024UK£50.9bUK£24.1bUK£957.6m27.4x53.1x2.1x
Sun, 17 Mar 2024UK£53.3bUK£24.3bUK£872.7m30x61x2.2x
Tue, 13 Feb 2024UK£52.7bUK£24.4bUK£908.2m28.8x58x2.2x
Thu, 11 Jan 2024UK£72.4bUK£31.4bUK£947.2m26.3x76.4x2.3x
Sat, 09 Dec 2023UK£71.8bUK£31.4bUK£954.3m25.9x75.2x2.3x
Mon, 06 Nov 2023UK£67.9bUK£31.9bUK£1.0b27.5x67.6x2.1x
Wed, 04 Oct 2023UK£69.8bUK£31.9bUK£989.2m25.9x70.6x2.2x
Fri, 01 Sep 2023UK£71.3bUK£30.8bUK£1.0b28.5x70x2.3x
Sun, 30 Jul 2023UK£73.4bUK£31.2bUK£1.1b30.2x69.6x2.4x
Tue, 27 Jun 2023UK£73.2bUK£31.1bUK£1.1b29.2x68.5x2.4x
Thu, 25 May 2023UK£72.9bUK£31.0bUK£971.1m30.6x75x2.4x
Sat, 22 Apr 2023UK£73.0bUK£30.8bUK£1.3b31.1x56.9x2.4x
Price to Earnings Ratio

56.9x


Total Market Cap: UK£73.0bTotal Earnings: UK£1.3bTotal Revenue: UK£30.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Tech Sector Price to Earnings3Y Average 53.1x202420252026
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 46.8x which is lower than its 3-year average PE of 53.1x.
  • The 3-year average PS ratio of 2.2x is higher than the industry's current PS ratio of 1.9x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have declined 8.4% per year over the last three years,
  • Revenues have also declined 8.0% 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. Tech sector?

GB Market2.94%
Tech7.68%
Semiconductors50.57%
Tech Hardware17.68%
Electronic Equipment and Components12.26%
IT3.31%
Software1.08%
Communications0.33%
Industry PE
  • Investors are most optimistic about the Communications industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 15.7%, which is higher than its past year's earnings decline of 4.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Tech Hardware industry, expecting annual earnings growth of 19% over the next 5 years.
  • However this is lower than its past earnings growth rate of 47% per year.
  • In contrast, the Semiconductors industry is expected to see its earnings decline by 35% 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
HLMA HalmaUK£42.6212.6%
+UK£1.8b		59.4%PE46.4x
RSW RenishawUK£39.7812.2%
+UK£314.3m		73.7%PE39x
IQE IQEUK£0.4887.5%
+UK£218.4m		399.0%PS4.8x
OXIG Oxford InstrumentsUK£27.9213.2%
+UK£179.4m		71.5%PE98.4x
RPI Raspberry Pi HoldingsUK£5.5719.8%
+UK£178.4m		25.4%PE67.4x

Latest News

SRT
UK£0.83
SRT Marine Systems
7D
-6.2%
1Y
36.9%
MBO
UK£0.11
MobilityOne
7D
-25.4%
1Y
587.5%
RPI
UK£5.57
Raspberry Pi Holdings
7D
19.8%
1Y
25.4%
OXIG
UK£27.92
Oxford Instruments
7D
13.2%
1Y
71.5%
CCC
UK£31.64
Computacenter
7D
3.4%
1Y
37.4%

Computacenter plc Just Missed EPS By 12%: Here's What Analysts Think Will Happen Next

Apr 12
Computacenter plc Just Missed EPS By 12%: Here's What Analysts Think Will Happen Next
IQE
UK£0.48
IQE
7D
87.5%
1Y
399.0%
CLBS
UK£0.83
Celebrus Technologies
7D
-8.8%
1Y
-60.9%
RSW
UK£39.78
Renishaw
7D
12.2%
1Y
73.7%
HLMA
UK£42.62
Halma
7D
12.6%
1Y
59.4%

HLMA: Slightly Higher Assumptions And Neutral Views Will Support Premium P/E

Narrative update on Halma The updated analyst price target for Halma now reflects the recent Street moves to £4,150 per share. Analysts point to slightly adjusted assumptions for discount rate, revenue growth, profit margin and future P/E as the key drivers behind this change.
FADL
UK£0.45
Fadel Partners
7D
-14.3%
1Y
-35.7%
SKL
UK£0.51
Skillcast Group
7D
-3.8%
1Y
40.3%
SCT
UK£12.62
Softcat
7D
2.4%
1Y
-20.3%

SCT: Dividend Increases And Share Buybacks Will Drive Strong Future Returns

Analysts have trimmed their Softcat price target from £17.18 to £16.58, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E levels. What's in the News Softcat has recommended an interim ordinary dividend of 9.9 pence per share for H1 FY2026, amounting to £19.5 million, under its policy of paying one third of the previous year's total ordinary dividend as the interim payout (Key Developments).
DOTD
UK£0.45
dotdigital Group
7D
-1.4%
1Y
-39.1%

DOTD: Future Margin Delivery And Cash Generation Will Support A Rerating

Analysts have nudged their price target on dotdigital Group slightly higher to £X from £Y. This reflects small adjustments to the discount rate, revenue growth, profit margin and forward P/E assumptions.
GBG
UK£2.01
GB Group
7D
-0.9%
1Y
-25.6%

GBG: Slightly Improved Assumptions Will Support Confidence In Future Earnings Potential

Analysts have nudged their price target on GB Group slightly higher to £X.X, reflecting small adjustments to assumptions around the discount rate, revenue growth, profit margins and future P/E, while keeping estimated fair value broadly unchanged at £4.50. Valuation Changes Fair Value: kept unchanged at £4.50, indicating no shift in the central valuation anchor.
SGE
UK£8.47
Sage Group
7D
-0.8%
1Y
-28.2%

SGE: Mixed Research Views And Partnerships Will Shape Future Upside Potential

Analysts have reduced Sage Group's fair value estimate from £9.50 to £9.00. This reflects recent price target revisions from £14.00 to £11.50, along with mixed updates that balance slightly adjusted growth, margin and future P/E assumptions.
KNOS
UK£8.06
Kainos Group
7D
5.2%
1Y
15.4%