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U.K. (FTSE) Tech Sector Analysis

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies112
  • 7D-2.2%
  • 3M15.1%
  • 1Y0.9%
  • YTD9.0%

Over the last 7 days, the Tech industry has dropped 2.2%, driven by a pullback from Halma of 2.9%. Over the last year, the industry has been flat overall. 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, 24 Jun 2026UK£47.9bUK£24.2bUK£1.0b24.5x47x2x
Fri, 22 May 2026UK£50.7bUK£24.0bUK£1.0b25.2x49x2.1x
Sun, 19 Apr 2026UK£48.9bUK£24.0bUK£985.7m33.2x49.6x2x
Tue, 17 Mar 2026UK£43.5bUK£23.7bUK£994.9m29x43.7x1.8x
Thu, 12 Feb 2026UK£43.3bUK£22.3bUK£1.0b30.6x42.7x1.9x
Sat, 10 Jan 2026UK£46.5bUK£22.3bUK£1.0b29.3x46.3x2.1x
Mon, 08 Dec 2025UK£47.8bUK£22.6bUK£861.6m28.2x55.4x2.1x
Wed, 05 Nov 2025UK£51.8bUK£23.6bUK£898.6m29.7x57.6x2.2x
Fri, 03 Oct 2025UK£53.9bUK£23.5bUK£925.3m30.7x58.2x2.3x
Sun, 31 Aug 2025UK£50.7bUK£22.7bUK£1.1b29.7x48.3x2.2x
Tue, 29 Jul 2025UK£52.1bUK£22.7bUK£1.2b31.3x42.7x2.3x
Thu, 26 Jun 2025UK£53.1bUK£22.9bUK£1.2b31.5x42.7x2.3x
Sat, 24 May 2025UK£49.5bUK£23.0bUK£1.3b27.8x39.6x2.1x
Mon, 21 Apr 2025UK£45.6bUK£23.0bUK£1.3b23.2x36.1x2x
Wed, 19 Mar 2025UK£48.0bUK£23.0bUK£1.2b22.7x38.6x2.1x
Fri, 14 Feb 2025UK£52.5bUK£22.6bUK£1.2b27.2x42.4x2.3x
Sun, 12 Jan 2025UK£50.0bUK£22.6bUK£1.2b27.3x40.5x2.2x
Tue, 10 Dec 2024UK£51.7bUK£22.6bUK£1.3b28.9x41x2.3x
Thu, 07 Nov 2024UK£47.3bUK£22.4bUK£1.1b26.8x41.6x2.1x
Sat, 05 Oct 2024UK£49.4bUK£22.9bUK£1.1b26.3x44.6x2.2x
Mon, 02 Sep 2024UK£56.0bUK£23.9bUK£1.3b27.5x43.8x2.3x
Wed, 31 Jul 2024UK£56.9bUK£24.2bUK£1.2b28.3x48.6x2.4x
Fri, 28 Jun 2024UK£57.9bUK£24.3bUK£1.2b28x49.5x2.4x
Sun, 26 May 2024UK£55.4bUK£23.9bUK£1.1b30.3x52.2x2.3x
Tue, 23 Apr 2024UK£50.9bUK£24.1bUK£959.0m27.4x53x2.1x
Thu, 21 Mar 2024UK£53.2bUK£24.1bUK£873.8m29.7x60.8x2.2x
Sat, 17 Feb 2024UK£53.1bUK£24.4bUK£908.2m29x58.4x2.2x
Mon, 15 Jan 2024UK£72.9bUK£31.4bUK£947.1m26.3x77x2.3x
Wed, 13 Dec 2023UK£72.4bUK£31.4bUK£952.1m27x76x2.3x
Fri, 10 Nov 2023UK£68.8bUK£31.9bUK£1.0b25.7x68.2x2.2x
Sun, 08 Oct 2023UK£69.6bUK£31.9bUK£989.1m26.3x70.3x2.2x
Tue, 05 Sep 2023UK£71.2bUK£30.8bUK£1.0b28.7x70.2x2.3x
Thu, 03 Aug 2023UK£71.7bUK£30.8bUK£1.0b29.3x68.5x2.3x
Sat, 01 Jul 2023UK£73.9bUK£31.1bUK£1.1b29.6x69.1x2.4x
Price to Earnings Ratio

69.1x


Total Market Cap: UK£73.9bTotal Earnings: UK£1.1bTotal Revenue: UK£31.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Tech Sector Price to Earnings3Y Average 52x202420252026
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 47.0x which is lower than its 3-year average PE of 52.0x.
  • The industry is trading close to its 3-year average PS ratio of 2.2x.
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 8.1% 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-1.14%
Tech-2.22%
IT0.54%
Software-2.08%
Electronic Equipment and Components-2.56%
Communications-6.60%
Semiconductors-6.70%
Tech Hardware-8.55%
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 27.3%, which is higher than its past year's earnings growth of 17.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 47% over the next 5 years.
  • In contrast, the Electronic Equipment and Components industry is expected to see its earnings grow by 15% 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£39.181.1%
+UK£166.2m		22.4%PE39.7x
CCC ComputacenterUK£42.481.7%
+UK£75.6m		67.8%PE29x
BYIT Bytes Technology GroupUK£3.714.4%
+UK£36.8m		-26.5%PE17.1x
RCN RedcentricUK£1.296.8%
+UK£13.1m		2.4%PE73.6x
SEE Seeing MachinesUK£0.0454.9%
+UK£10.0m		65.2%PS4.7x

Latest News

FTC
UK£3.10
Filtronic
7D
-16.2%
1Y
105.3%
SOLI
UK£2.00
Solid State
7D
8.1%
1Y
8.1%
CCC
UK£42.48
Computacenter
7D
1.7%
1Y
67.8%
RSW
UK£49.84
Renishaw
7D
-2.8%
1Y
77.4%
Narrative Update • Jun 22

RSW: Raised Outlook And New CFO Will Support Balanced Long Term Prospects

Renishaw's analyst price target has moved higher, with an updated fair value estimate of £47.43 compared with the prior £40.03, as analysts factor in revised assumptions around revenue growth, profit margins and future P/E, in line with recent Street research such as Deutsche Bank's £2.10 uplift. What's in the News for Renishaw Renishaw reaffirmed earnings guidance for 2026, indicating that full year performance is expected to remain in line with recently upgraded guidance, with revenue projected between £775 million and £805 million.
SEE
UK£0.045
Seeing Machines
7D
4.9%
1Y
65.2%
Narrative Update • Jun 22

SEE: Expanded Auto Contracts And Fleet Orders Will Not Justify Current Pricing

Analysts have slightly trimmed their price target on Seeing Machines to £0.0431 from £0.0433, reflecting updated assumptions for revenue growth, profit margins and the future P/E multiple, while keeping the overall risk profile broadly unchanged. What's in the News for Seeing Machines Expanded Automotive production program with a major European original equipment manufacturer, adding further vehicle models and an estimated value of US$31 million to Seeing Machines' Driver and Occupant Monitoring System deployment, source: company key developments.
RCN
UK£1.29
Redcentric
7D
6.8%
1Y
2.4%
RPI
UK£7.32
Raspberry Pi Holdings
7D
-12.8%
1Y
61.0%
Narrative Update • Jun 18

RPI: Raised Price View And Equity Issuance Will Pressure Future Returns

The updated analyst price target on Raspberry Pi Holdings has been raised to £6.50 from £5.50. Analysts cite revised assumptions around fair value, discount rate, revenue growth, profit margin and future P/E to support the change.
BYIT
UK£3.71
Bytes Technology Group
7D
4.4%
1Y
-26.5%
Narrative Update • Jun 18

BYIT: Cost Normalisation And Buybacks Will Support Stronger Future Cash Recovery

Analysts have nudged their fair value estimate for Bytes Technology Group up slightly from £4.70 to £4.75, reflecting updated assumptions on discount rates, growth and margins following recent research and valuation work. What’s in the News for Bytes Technology Group Bytes Technology Group plc has an authorised share repurchase program of up to £25 million aimed at reducing share capital, with all ordinary shares bought under the plan expected to be cancelled and the program targeted for completion in the first half of FY27.
TPX
UK£0.73
TPXimpact Holdings
7D
16.7%
1Y
273.1%
Narrative Update • Jun 17

TPX: New Justice Contract And Margin Expansion Will Support Future Upside

Analysts have raised their fair value estimate for TPXimpact Holdings to £0.93 from £0.59, citing updated assumptions for revenue growth, profit margins, a lower discount rate, and a revised future P/E framework. What’s in the News for TPXimpact Holdings TPXimpact Holdings was selected as the successful bidder for a £16 million, 2 year Product Team Bench Model Services contract with the Ministry of Justice (MoJ), following a competitive tender process.
HLMA
UK£39.18
Halma
7D
1.1%
1Y
22.4%
Narrative Update • Jun 17

HLMA: Post Selloff Repricing Will Likely Support Future Share Price

Halma's analyst price target has been revised higher to £43.76 from £41.69, with analysts pointing to valuation support after the recent selloff and the removal of what they describe as a "photonics premium" on the shares. Analyst Commentary Recent research on Halma highlights a split between analysts who see the recent share price pullback as an opportunity and those who remain more neutral, focusing on execution and valuation risk.
CER
UK£11.00
Cerillion
7D
-11.3%
1Y
-28.6%
SCT
UK£17.76
Softcat
7D
-2.3%
1Y
1.5%
SGE
UK£8.08
Sage Group
7D
-2.9%
1Y
-35.6%
Narrative Update • Jun 15

SGE: AI Rollout And Buybacks Will Support Durable Long Term Upside

Narrative Update on Sage Group Analysts have trimmed the central price target framework for Sage Group, with the fair value marker moving from about £15.22 to £13.34. This broadly aligns with recent Street price target cuts toward £9.00 and lower P/E assumptions, even as some research points to more supportive views around margins and a higher £11.65 target from other firms.
IQE
UK£0.51
IQE
7D
-8.1%
1Y
402.0%
KNOS
UK£7.80
Kainos Group
7D
-6.4%
1Y
4.0%
KRM
UK£0.47
KRM22
7D
25.0%
1Y
35.7%