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U.K. (FTSE) Tech Sector Analysis

UpdatedJan 18, 2026
DataAggregated Company Financials
Companies113
  • 7D0.4%
  • 3M2.9%
  • 1Y3.0%
  • YTD4.4%

The Tech is pretty flat in the last 7 days, but Oxford Instruments has stood out, gaining 14%. The past year has been better, since the industry has gained 3.0% in that time. Earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 18 Jan 2026UK£46.6bUK£22.3bUK£1.0b30.1x46.4x2.1x
Tue, 16 Dec 2025UK£46.8bUK£22.5bUK£868.9m29.8x53.9x2.1x
Thu, 13 Nov 2025UK£51.1bUK£23.6bUK£879.0m30.4x58.1x2.2x
Sat, 11 Oct 2025UK£52.8bUK£23.5bUK£890.1m30.8x59.3x2.2x
Mon, 08 Sep 2025UK£50.8bUK£22.7bUK£1.1b29.7x48.2x2.2x
Wed, 06 Aug 2025UK£51.2bUK£22.6bUK£1.2b29.2x42x2.3x
Fri, 04 Jul 2025UK£52.3bUK£23.0bUK£1.2b31.9x42.3x2.3x
Sun, 01 Jun 2025UK£49.9bUK£23.0bUK£1.2b29.4x40.2x2.2x
Tue, 29 Apr 2025UK£46.6bUK£23.0bUK£1.3b23.9x36.9x2x
Thu, 27 Mar 2025UK£47.8bUK£23.1bUK£1.2b23.6x38.4x2.1x
Sat, 22 Feb 2025UK£51.7bUK£22.6bUK£1.2b26.6x41.6x2.3x
Mon, 20 Jan 2025UK£51.4bUK£22.6bUK£1.2b27.3x41.6x2.3x
Wed, 18 Dec 2024UK£50.8bUK£22.6bUK£1.3b28.6x40.5x2.3x
Fri, 15 Nov 2024UK£48.2bUK£22.4bUK£1.1b27.7x42.2x2.2x
Sun, 13 Oct 2024UK£49.0bUK£23.0bUK£1.1b26.4x44.1x2.1x
Tue, 10 Sep 2024UK£53.8bUK£23.4bUK£1.3b26x42.8x2.3x
Thu, 08 Aug 2024UK£55.1bUK£24.1bUK£1.3b27.1x43.5x2.3x
Sat, 06 Jul 2024UK£58.1bUK£24.3bUK£1.2b28.1x49.6x2.4x
Mon, 03 Jun 2024UK£54.3bUK£23.9bUK£1.1b29x51.3x2.3x
Wed, 01 May 2024UK£52.8bUK£23.9bUK£961.5m27.7x54.9x2.2x
Fri, 29 Mar 2024UK£53.9bUK£24.1bUK£886.1m27.9x60.8x2.2x
Sun, 25 Feb 2024UK£53.5bUK£24.4bUK£908.5m30.2x58.9x2.2x
Tue, 23 Jan 2024UK£73.1bUK£31.4bUK£946.4m26.3x77.2x2.3x
Thu, 21 Dec 2023UK£74.2bUK£31.4bUK£952.6m27.9x77.9x2.4x
Sat, 18 Nov 2023UK£69.3bUK£32.0bUK£1.0b27.1x67.9x2.2x
Mon, 16 Oct 2023UK£68.6bUK£32.0bUK£987.0m26.7x69.5x2.1x
Wed, 13 Sep 2023UK£72.2bUK£31.7bUK£1.1b28.3x68.2x2.3x
Fri, 11 Aug 2023UK£71.7bUK£30.7bUK£1.0b28.4x69.3x2.3x
Sun, 09 Jul 2023UK£72.2bUK£31.1bUK£1.1b28.5x67.9x2.3x
Tue, 06 Jun 2023UK£74.5bUK£30.9bUK£955.4m30.9x78x2.4x
Thu, 04 May 2023UK£73.6bUK£31.0bUK£1.1b30.9x67.8x2.4x
Sat, 01 Apr 2023UK£72.6bUK£31.5bUK£1.3b29.6x56.4x2.3x
Mon, 27 Feb 2023UK£97.9bUK£39.9bUK£2.7b29x35.9x2.5x
Wed, 25 Jan 2023UK£96.3bUK£39.7bUK£2.8b29.9x34.6x2.4x
Price to Earnings Ratio

34.6x


Total Market Cap: UK£96.3bTotal Earnings: UK£2.8bTotal Revenue: UK£39.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Tech Sector Price to Earnings3Y Average 52.9x202420252026
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 46.4x which is lower than its 3-year average PE of 52.9x.
  • The industry is trading close to its 3-year average PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have declined 29% per year over the last three years,
  • Revenues have also declined 18% 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 Market1.33%
Tech0.38%
Communications6.11%
Semiconductors3.06%
Tech Hardware2.94%
Electronic Equipment and Components2.19%
IT-0.92%
Software-1.60%
Industry PE
  • Investors are most optimistic about the Tech Hardware industry which is trading above its 3-year average PE ratio of 687x.
    • Analysts are expecting annual earnings growth of 20.8%, which is higher than its past year's earnings decline of 29.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Tech Hardware industry, expecting annual earnings growth of 21% over the next 5 years.
  • This is better than its past earnings decline of 29% per year.
  • In contrast, the Semiconductors industry is expected to see its earnings decline by 68% 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
OXIG Oxford InstrumentsUK£24.1014.2%
+UK£168.1m		16.7%PE86.1x
HLMA HalmaUK£36.980.9%
+UK£120.8m		32.0%PE40.2x
RSW RenishawUK£38.754.4%
+UK£120.0m		14.8%PE33.7x
FTC FiltronicUK£1.9213.9%
+UK£51.7m		100.0%PE30.1x
SWC Smarter WebUK£0.5742.5%
+UK£51.0m		n/aPE-339.1x

Latest News

CER
UK£15.10
Cerillion
7D
5.6%
1Y
-4.4%
ZOYO
UK£0.47
Zoyo
7D
90.0%
1Y
n/a
FTC
UK£1.92
Filtronic
7D
13.9%
1Y
100.0%
SEE
UK£0.052
Seeing Machines
7D
-8.8%
1Y
29.5%
CCC
UK£31.48
Computacenter
7D
-0.6%
1Y
50.5%
HLMA
UK£36.98
Halma
7D
0.9%
1Y
32.0%

What Does Halma plc's (LON:HLMA) Share Price Indicate?

Jan 11
What Does Halma plc's (LON:HLMA) Share Price Indicate?
OXIG
UK£24.10
Oxford Instruments
7D
14.2%
1Y
16.7%

OXIG: Buybacks And Softer Guidance Will Shape Future Return Balance

Oxford Instruments' analyst price targets have edged lower to a range of about £23.00 to £24.00 per share, as analysts moderate their views while still citing supportive factors such as resilient margins and a P/E profile they view as reasonable for the business. Analyst Commentary Recent Street research on Oxford Instruments points to a more cautious tone, with several bearish analysts trimming price targets into the mid £20 range and, in one case, lowering the rating while still keeping a positive stance overall.
SCT
UK£14.61
Softcat
7D
-1.4%
1Y
-2.0%

SCT: Dividend Returns And Steady Outlook Will Shape Future Share Appeal

Analysts have raised their Softcat price target from £14.00 to £14.50, reflecting updated assumptions on discount rates, revenue growth, profit margins and future price-to-earnings (P/E) expectations. What's in the News Approval of a final dividend of 20.4 pence per ordinary share at the 15 December 2025 AGM.
RSW
UK£38.75
Renishaw
7D
4.4%
1Y
14.8%

RSW: Higher Margin Assumptions Will Likely Leave Shares Looking Overstretched

Analysts have raised their price target on Renishaw from £23.80 to £27.70, citing updated assumptions around profit margins and long term fair value as the key drivers of the change. What's in the News Singular Photonics highlighted progress in its collaboration with Renishaw, focused on next generation spectroscopy capabilities using single photon avalanche diode image sensors (Key Developments).
SGE
UK£10.54
Sage Group
7D
-2.6%
1Y
-19.9%

Sage Group's (LON:SGE) Shareholders Will Receive A Bigger Dividend Than Last Year

Jan 07
Sage Group's (LON:SGE) Shareholders Will Receive A Bigger Dividend Than Last Year
IGP
UK£1.13
Intercede Group
7D
-10.7%
1Y
-40.8%
KNOS
UK£10.00
Kainos Group
7D
-2.2%
1Y
26.6%

Kainos Group plc's (LON:KNOS) 28% Jump Shows Its Popularity With Investors

Dec 10
Kainos Group plc's (LON:KNOS) 28% Jump Shows Its Popularity With Investors
BIG
UK£0.87
Big Technologies
7D
11.6%
1Y
-32.3%
GBG
UK£2.40
GB Group
7D
-3.0%
1Y
-29.3%
BYIT
UK£3.53
Bytes Technology Group
7D
-4.3%
1Y
-18.3%
SWC
UK£0.57
Smarter Web
7D
42.5%
1Y
n/a