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U.K. (FTSE) Market Analysis & Valuation

UpdatedApr 23, 2026
DataAggregated Company Financials
Companies1081
  • 7D-0.4%
  • 3M2.8%
  • 1Y24.9%
  • YTD5.6%

The Information Technology sector gained 6.3% while the market remained flat over the last week. As for the longer term, the market has risen 25% in the past 12 months. Earnings are forecast to grow by 13% annually.

Trending IndustriesOil and GasGoldBiotechSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 23 Apr 2026UK£3.0tUK£2.0tUK£157.5b16x18.8x1.5x
Sat, 21 Mar 2026UK£2.8tUK£2.0tUK£156.7b14.8x17.8x1.4x
Mon, 16 Feb 2026UK£3.0tUK£1.9tUK£145.6b16.7x20.6x1.5x
Wed, 14 Jan 2026UK£2.9tUK£2.0tUK£138.0b16.5x21x1.5x
Fri, 12 Dec 2025UK£2.8tUK£2.0tUK£138.1b15.9x20.1x1.4x
Sun, 09 Nov 2025UK£2.8tUK£2.0tUK£138.1b16.1x20.1x1.4x
Tue, 07 Oct 2025UK£2.7tUK£1.9tUK£135.3b16.6x20.2x1.4x
Thu, 04 Sep 2025UK£2.7tUK£2.0tUK£135.8b16x19.6x1.4x
Sat, 02 Aug 2025UK£2.6tUK£2.0tUK£134.0b16.1x19.6x1.3x
Mon, 30 Jun 2025UK£2.5tUK£1.9tUK£126.7b16.7x19.6x1.3x
Wed, 28 May 2025UK£2.5tUK£1.9tUK£125.8b16.4x19.8x1.3x
Fri, 25 Apr 2025UK£2.4tUK£2.0tUK£134.8b15.3x17.8x1.2x
Sun, 23 Mar 2025UK£2.5tUK£2.0tUK£136.4b15.7x18.1x1.2x
Tue, 18 Feb 2025UK£2.5tUK£2.0tUK£139.1b16.4x18.2x1.3x
Thu, 16 Jan 2025UK£2.4tUK£2.1tUK£124.8b15.7x19.5x1.2x
Sat, 14 Dec 2024UK£2.5tUK£2.0tUK£122.5b16.3x20.2x1.2x
Mon, 11 Nov 2024UK£2.4tUK£2.0tUK£118.2b16.3x20.2x1.2x
Wed, 09 Oct 2024UK£2.4tUK£2.0tUK£118.7b16.3x20.2x1.2x
Fri, 06 Sep 2024UK£2.4tUK£2.0tUK£118.9b16.9x20.4x1.2x
Sun, 04 Aug 2024UK£2.4tUK£2.0tUK£124.9b16.7x19.3x1.2x
Tue, 02 Jul 2024UK£2.4tUK£2.0tUK£132.1b16.3x18.2x1.2x
Thu, 30 May 2024UK£2.4tUK£2.1tUK£129.4b17.1x18.9x1.2x
Sat, 27 Apr 2024UK£2.4tUK£2.1tUK£143.6b16x16.9x1.2x
Mon, 25 Mar 2024UK£2.4tUK£2.1tUK£147.6b16.3x16.4x1.1x
Wed, 21 Feb 2024UK£2.3tUK£2.0tUK£146.9b15.3x15.6x1.1x
Fri, 19 Jan 2024UK£2.3tUK£2.1tUK£193.5b14.7x11.7x1.1x
Sun, 17 Dec 2023UK£2.3tUK£2.1tUK£193.7b15.1x11.9x1.1x
Tue, 14 Nov 2023UK£2.2tUK£2.2tUK£195.0b14x11.5x1x
Thu, 12 Oct 2023UK£2.3tUK£2.2tUK£185.8b14x12.6x1.1x
Sat, 09 Sep 2023UK£2.3tUK£2.2tUK£185.4b14.5x12.4x1.1x
Mon, 07 Aug 2023UK£2.4tUK£2.2tUK£189.4b14.6x12.4x1.1x
Wed, 05 Jul 2023UK£2.3tUK£2.2tUK£208.0b14.2x11.2x1.1x
Fri, 02 Jun 2023UK£2.3tUK£2.2tUK£211.4b14.2x11.1x1.1x
Sun, 30 Apr 2023UK£2.5tUK£2.2tUK£179.2b14.5x13.8x1.1x
Price to Earnings Ratio

13.8x


Total Market Cap: UK£2.5tTotal Earnings: UK£179.2bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17.3x202420252026
Current Market PE
  • Investors are relatively neutral on the British market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 17.3x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 4.2% per year over the last three years.
  • Revenues have also declined 2.6% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

Which sectors have driven the changes within the U.K. Market?

GB Market-0.41%
Tech6.32%
Consumer Discretionary2.28%
Materials1.49%
Real Estate0.71%
Energy0.27%
Financials-0.016%
Telecom-0.096%
Consumer Staples-0.79%
Utilities-1.77%
Healthcare-1.86%
Industrials-2.93%
Sector PE
  • Investors favour the Tech sector the most for future growth even though it's trading below its 3-year average PE ratio of 53.1x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 16.7%, which is higher than its past year's earnings growth of 7.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 46% over the next 5 years.
  • This is better than its past earnings growth rate of 5.1% per year.
  • In contrast, the Consumer Staples sector is expected to see its earnings grow by 6.8% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
RIO Rio Tinto GroupUK£74.583.0%
+UK£3.5b		62.6%PE16.4xMaterials
CPG Compass GroupUS$29.639.0%
+US$4.1b		-11.2%PE27xConsumer Discretionary
LSEG London Stock Exchange GroupUK£97.485.4%
+UK£2.4b		-15.2%PE38.5xFinancials
REL RELXUK£27.403.9%
+UK£1.8b		-30.5%PE23.6xIndustrials
BP. BPUK£5.721.8%
+UK£1.6b		60.0%PE2200.1xEnergy
See more

Market Insights

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Latest News

AZN
UK£145.36
AstraZeneca
7D
-1.6%
1Y
40.3%
RIO
UK£74.58
Rio Tinto Group
7D
3.0%
1Y
62.6%
EXPN
UK£28.82
Experian
7D
5.3%
1Y
-19.7%
GSK
UK£20.75
GSK
7D
-2.6%
1Y
50.5%
BA.
UK£21.13
BAE Systems
7D
-6.2%
1Y
26.8%
BP.
UK£5.72
BP
7D
1.8%
1Y
60.0%
RKT
UK£46.92
Reckitt Benckiser Group
7D
-6.3%
1Y
-3.5%

RKT: Future Returns Will Hinge On Dividend And Capital Return Delivery

Analysts have trimmed the fair value estimate for Reckitt Benckiser Group from about £64.42 to £63.61, reflecting slightly softer revenue growth and profit margin assumptions, even as recent research includes both price target cuts and an upgrade on the shares. Analyst Commentary Recent Street research on Reckitt Benckiser Group has mixed signals, with some analysts trimming price targets while another has upgraded the shares, reflecting a balance of confidence in the franchise and caution around execution and earnings quality.
TSCO
UK£4.95
Tesco
7D
4.9%
1Y
38.4%

The Tesco PLC (LON:TSCO) Full-Year Results Are Out And Analysts Have Published New Forecasts

Apr 19
The Tesco PLC (LON:TSCO) Full-Year Results Are Out And Analysts Have Published New Forecasts
SHEL
UK£33.00
Shell
7D
-1.4%
1Y
35.7%

SHEL: Future Returns Will Reflect Middle East Supply Risk Premiums

Shell’s analyst fair value estimate has been revised higher from £34.65 to £37.17, as analysts factor in updated commodity price assumptions, refined revenue growth expectations, and slightly higher margin and P/E inputs following a mix of recent target hikes and downgrades across the Street. Analyst Commentary Recent research on Shell has been active, with several firms revising price targets and a mix of upgrades and downgrades.
CPG
US$29.63
Compass Group
7D
9.0%
1Y
-11.2%
NWG
UK£5.92
NatWest Group
7D
-4.9%
1Y
24.3%

NWG: Evelyn Acquisition And Buybacks Will Support Future Share Upside

NatWest Group's updated analyst price target has inched higher to £7.32 from £7.31. This reflects a blend of recent target increases from several banks and more cautious expectations from others, as analysts factor in slightly different views on revenue growth, profitability and valuation multiples.
LSEG
UK£97.48
London Stock Exchange Group
7D
5.4%
1Y
-15.2%

LSEG: Activist Buybacks And AI Partnerships Will Support Future Upside Potential

Narrative update The analyst price target for London Stock Exchange Group has been raised by £1.00. Analysts point to updated assumptions for revenue growth, profit margins and future P/E as key drivers for the change.
RR.
UK£11.39
Rolls-Royce Holdings
7D
-11.5%
1Y
56.4%
LLOY
UK£1.00
Lloyds Banking Group
7D
-2.9%
1Y
36.3%

LLOY: Buyback And Dividend Policy Will Support A More Attractive Return Profile

Analysts have lifted their price target for Lloyds Banking Group by around £0.02, reflecting small adjustments to fair value estimates, discount rate assumptions, revenue growth expectations, and a lower future P/E multiple in their models. What's in the News The Board of Lloyds Banking Group has authorized a share buyback plan, allowing the company to repurchase its own shares as part of a capital management program, subject to regulatory approval (Key Developments).
HLMA
UK£44.55
Halma
7D
6.5%
1Y
65.4%

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.
REL
UK£27.40
RELX
7D
3.9%
1Y
-30.5%

REL: Q4 Resilience To AI Concerns Will Support Future Multiple Re Rating

Narrative Update on RELX The updated analyst price target for RELX has shifted slightly, with fair value moving from about £37.14 to around £36.67. Analysts are factoring in a marginally higher discount rate and a slightly lower future P/E multiple, while recent research highlights steady guidance and limited immediate impact from AI related concerns.