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U.K. (FTSE) Tech Sector Analysis

UpdatedJul 13, 2026
DataAggregated Company Financials
Companies110
  • 7D-3.0%
  • 3M4.1%
  • 1Y1.9%
  • YTD7.9%

Over the last 7 days, the Tech industry has dropped 3.0%, driven by a pullback from Halma of 6.8%. Over the last year, the industry has been flat overall. 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
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
Tue, 22 Aug 2023UK£69.9bUK£30.8bUK£1.0b28.3x67.5x2.3x
Thu, 20 Jul 2023UK£75.2bUK£31.1bUK£1.1b29.5x71.6x2.4x
Price to Earnings Ratio

71.6x


Total Market Cap: UK£75.2bTotal Earnings: UK£1.1bTotal Revenue: UK£31.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Tech Sector Price to Earnings3Y Average 51.6x202420252026
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 47.6x which is lower than its 3-year average PE of 51.6x.
  • The 3-year average PS ratio of 2.2x is higher than the industry's current PS ratio of 2.0x.
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 8.3% 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-1.38%
Tech-2.98%
Communications0.36%
IT-0.35%
Software-0.65%
Tech Hardware-5.19%
Electronic Equipment and Components-5.35%
Semiconductors-7.71%
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 30.1%, 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 43% 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
SGE Sage GroupUK£8.562.3%
+UK£174.1m		-30.7%PE20x
CCC ComputacenterUK£45.623.6%
+UK£167.9m		99.4%PE31.2x
BYIT Bytes Technology GroupUK£4.173.4%
+UK£31.7m		30.1%PE19x
NCC NCC GroupUK£1.417.8%
+UK£28.1m		-1.7%PS1.6x
FTC FiltronicUK£2.752.6%
+UK£15.4m		62.7%PE60.7x

Latest News

BYIT
UK£4.17
Bytes Technology Group
7D
3.4%
1Y
30.1%
CCC
UK£45.62
Computacenter
7D
3.6%
1Y
99.4%
SCT
UK£19.11
Softcat
7D
-1.5%
1Y
15.4%
Narrative Update • Jul 10

SCT: Higher P/E And Lower Margins Will Continue To Mask Weakening Earnings Quality

Analysts have raised their Softcat price target from £13.50 to £15.00, citing updated assumptions on revenue growth, profit margins and future P/E that together support a higher fair value estimate despite a slightly higher discount rate. What’s in the News for Softcat No recent Softcat specific news items were provided in the primary news feed.
RPI
UK£8.03
Raspberry Pi Holdings
7D
-9.4%
1Y
71.2%
RSW
UK£48.24
Renishaw
7D
-1.6%
1Y
70.2%
Narrative Update • Jul 06

RSW: Higher Discount Rate Will Likely Restrain Returns Despite Guidance

Renishaw's analyst price target has shifted to £27.79 from £34.00, with analysts pointing to updated views on discount rates, revenue growth, profit margin and future P/E assumptions, supported by recent Street research such as the latest target increase reported from Deutsche Bank. 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 targeted in a range of £775 million to £805 million.
IQE
UK£0.40
IQE
7D
-9.8%
1Y
295.8%
AOM
UK£2.01
ActiveOps
7D
-13.5%
1Y
27.6%
Analysis Article • Jul 06

ActiveOps Plc (LON:AOM) Just Released Its Full-Year Results And Analysts Are Updating Their Estimates

There's been a notable change in appetite for ActiveOps Plc ( LON:AOM ) shares in the week since its full-year report...
KNOS
UK£7.87
Kainos Group
7D
0.6%
1Y
9.4%
ONDO
UK£0.06
Ondo InsurTech
7D
-7.7%
1Y
-72.7%
OXIG
UK£29.06
Oxford Instruments
7D
-3.5%
1Y
44.9%
BKS
UK£2.15
Beeks Financial Cloud Group
7D
4.9%
1Y
6.7%
HLMA
UK£35.94
Halma
7D
-8.0%
1Y
11.8%
Narrative Update • Jul 01

HLMA: Conviction List Upgrade Will Likely Fail To Justify Rich Multiple

Halma's analyst fair value estimate has shifted from £30.50 to about £33.74, as analysts highlight the company as a high quality compounding growth stock, supported by recent price target increases from several major banks and its inclusion on a European conviction list. Analyst Commentary Recent analyst commentary on Halma has centered on the stock's quality profile, its positioning as a long term growth compounder, and how that lines up with current valuation.
SGE
UK£8.56
Sage Group
7D
2.3%
1Y
-30.7%
Narrative Update • Jun 29

SGE: AI Adoption And Capital Returns Will Support Future Share Price Upside

The updated Sage Group narrative reflects a lower implied price target, moving in line with recent Street revisions, such as JPMorgan's cut to £10.00 from £11.00 and Deutsche Bank's trim to £9.00. It also incorporates analyst views on moderating growth assumptions, a slightly higher discount rate, and a reduced future P/E multiple, offset by a small uplift in margin expectations.
FTC
UK£2.75
Filtronic
7D
2.6%
1Y
62.7%
SEE
UK£0.042
Seeing Machines
7D
-14.3%
1Y
50.0%
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.
NCC
UK£1.41
NCC Group
7D
7.8%
1Y
-1.7%