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U.K. (FTSE) Market Analysis & Valuation

UpdatedJun 25, 2026
DataAggregated Company Financials
Companies1086
  • 7D-0.9%
  • 3M4.8%
  • 1Y18.7%
  • YTD4.7%

Over the last 7 days, the market has remained flat, although notably the Real Estate sector gained 4.2% in that time. More promisingly, the market is up 19% over the past year. Looking forward, earnings are forecast to grow by 11% annually.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Jun 2026UK£2.9tUK£2.0tUK£165.6b15.7x17.7x1.4x
Sat, 23 May 2026UK£3.0tUK£2.0tUK£164.6b16.1x18x1.5x
Mon, 20 Apr 2026UK£3.0tUK£2.0tUK£157.4b16.2x19.2x1.5x
Wed, 18 Mar 2026UK£2.9tUK£2.0tUK£156.5b15.7x18.7x1.5x
Fri, 13 Feb 2026UK£3.0tUK£1.9tUK£140.4b16.7x21.3x1.5x
Sun, 11 Jan 2026UK£2.9tUK£2.0tUK£138.1b16.8x21x1.5x
Tue, 09 Dec 2025UK£2.8tUK£2.0tUK£138.5b16.1x19.9x1.4x
Thu, 06 Nov 2025UK£2.8tUK£2.0tUK£139.8b16.4x20x1.4x
Sat, 04 Oct 2025UK£2.7tUK£1.9tUK£135.4b16.8x20.2x1.4x
Mon, 01 Sep 2025UK£2.7tUK£1.9tUK£135.2b16x19.7x1.4x
Wed, 30 Jul 2025UK£2.6tUK£1.9tUK£127.0b16.1x20.2x1.3x
Fri, 27 Jun 2025UK£2.5tUK£1.9tUK£126.6b16.5x19.5x1.3x
Sun, 25 May 2025UK£2.5tUK£1.9tUK£125.8b16.2x19.7x1.3x
Tue, 22 Apr 2025UK£2.4tUK£2.0tUK£134.9b15.3x17.5x1.2x
Thu, 20 Mar 2025UK£2.5tUK£2.0tUK£135.3b15.5x18.5x1.3x
Sat, 15 Feb 2025UK£2.5tUK£2.0tUK£138.6b16.4x18.2x1.3x
Mon, 13 Jan 2025UK£2.4tUK£2.1tUK£124.6b15.8x19.3x1.2x
Wed, 11 Dec 2024UK£2.4tUK£2.0tUK£122.2b16.3x20x1.2x
Fri, 08 Nov 2024UK£2.4tUK£2.0tUK£118.3b16.3x20.3x1.2x
Sun, 06 Oct 2024UK£2.4tUK£2.0tUK£118.6b16.5x20.5x1.2x
Tue, 03 Sep 2024UK£2.5tUK£2.0tUK£119.1b17x20.7x1.2x
Thu, 01 Aug 2024UK£2.5tUK£2.0tUK£126.3b16.7x19.5x1.2x
Sat, 29 Jun 2024UK£2.4tUK£2.0tUK£132.2b16.2x18.2x1.2x
Mon, 27 May 2024UK£2.5tUK£2.0tUK£127.0b17.3x19.5x1.2x
Wed, 24 Apr 2024UK£2.4tUK£2.1tUK£148.6b15.9x16.4x1.2x
Fri, 22 Mar 2024UK£2.4tUK£2.0tUK£146.7b16.2x16.3x1.2x
Sun, 18 Feb 2024UK£2.3tUK£2.0tUK£147.0b15.2x15.6x1.1x
Tue, 16 Jan 2024UK£2.3tUK£2.1tUK£193.6b14.9x11.9x1.1x
Thu, 14 Dec 2023UK£2.3tUK£2.1tUK£194.4b14.8x11.8x1.1x
Sat, 11 Nov 2023UK£2.2tUK£2.2tUK£195.5b13.9x11.4x1x
Mon, 09 Oct 2023UK£2.3tUK£2.2tUK£186.3b13.9x12.3x1.1x
Wed, 06 Sep 2023UK£2.3tUK£2.2tUK£184.8b14.5x12.4x1.1x
Fri, 04 Aug 2023UK£2.3tUK£2.2tUK£189.9b14.6x12.3x1.1x
Sun, 02 Jul 2023UK£2.3tUK£2.2tUK£208.2b14.3x11.3x1.1x
Price to Earnings Ratio

11.3x


Total Market Cap: UK£2.3tTotal Earnings: UK£208.2bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17.6x202420252026
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 17.6x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 7.3% per year over the last three years.
  • Revenues have also declined 2.2% 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-0.91%
Real Estate4.23%
Consumer Staples3.54%
Healthcare2.15%
Utilities0.86%
Consumer Discretionary0.86%
Industrials0.13%
Financials-0.48%
Tech-1.60%
Telecom-2.33%
Energy-3.46%
Materials-10.32%
Sector PE
  • Investors favour the Telecom sector the most for future growth which is trading above its 3-year average PE ratio.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 26.3%, which is higher than its past year's earnings growth of 3.1% per year.
  • The Financials sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 10.2x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings growth rate of 3.1% per year.
  • In contrast, the Consumer Staples sector is expected to see its earnings grow by 7.0% 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
AZN AstraZenecaUK£139.103.3%
+UK£6.8b		35.7%PE27.3xHealthcare
BATS British American TobaccoUK£46.784.6%
+UK£4.5b		33.0%PE13.2xConsumer Staples
ULVR UnileverUK£45.444.2%
+UK£3.9b		-10.3%PE20xConsumer Staples
RR. Rolls-Royce HoldingsUK£14.192.1%
+UK£2.4b		54.8%PE20.1xIndustrials
SGRO SEGROUK£8.7116.2%
+UK£1.6b		26.6%PB1xReal Estate
See more

Market Insights

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Latest News

AZN
UK£139.10
AstraZeneca
7D
3.3%
1Y
35.7%
DGE
UK£15.80
Diageo
7D
4.9%
1Y
-13.6%
SHEL
UK£29.47
Shell
7D
-2.9%
1Y
14.9%
SGRO
UK£8.71
SEGRO
7D
16.2%
1Y
26.6%
RR.
UK£14.19
Rolls-Royce Holdings
7D
2.1%
1Y
54.8%
ULVR
UK£45.44
Unilever
7D
4.2%
1Y
-10.3%
Narrative Update • Jun 24

ULVR: Planned Foods Combination Will Support Future Upside Despite Lowered Price Expectations

Unilever's analyst price target has been revised lower to £37.00 from £43.00, as analysts balance slightly higher long term EPS assumptions with concerns that a valuation in line with U.S. peers may be difficult to justify. Analyst Commentary Recent research on Unilever shows a mix of optimism on earnings power and caution around how far the valuation can stretch, especially when compared with large U.S. consumer peers.
NG.
UK£12.41
National Grid
7D
2.1%
1Y
16.6%
IAG
UK£4.81
International Consolidated Airlines Group
7D
6.2%
1Y
45.2%
Narrative Update • Jun 23

IAG: Diverging Street Views On Execution Risk Will Pressure Repricing

The latest Narrative Update for International Consolidated Airlines Group reflects a modest uplift in the internal fair value estimate to £3.86 per share, with analysts pointing to Street price target moves centered around £5.40 and updated views on revenue growth, profit margins, and forward P/E assumptions as key drivers of the revision. Analyst Commentary Recent Street research on International Consolidated Airlines Group shows a mix of optimism and caution, with some bearish analysts trimming price targets even as others lift their fair value views.
BP.
UK£4.80
BP
7D
-4.9%
1Y
31.7%
ANTO
UK£36.50
Antofagasta
7D
-14.3%
1Y
111.5%
Narrative Update • Jun 23

ANTO: Rising Execution Risks Will Likely Cap Copper Upside Potential

Antofagasta's updated fair value estimate has risen from £23.50 to £26.50 per share. This reflects analysts' higher price targets and assumptions for stronger top line growth, offset by slightly lower profit margins and a higher future P/E multiple.
GLEN
UK£5.22
Glencore
7D
-10.5%
1Y
90.9%
New Narrative • Jun 19

Copper Expansion And Political Risks Will Reshape Long Term Earnings Profile

Catalysts About Glencore Glencore is a diversified natural resources group involved in mining, processing and marketing of metals, energy products and other commodities. What are the underlying business or industry changes driving this perspective?
RIO
UK£71.63
Rio Tinto Group
7D
-8.4%
1Y
73.7%
Narrative Update • Jun 18

RIO: Fair Value View Balances EV Metals Upside And China Demand Risks

The analyst fair value estimate for Rio Tinto Group has been raised from £69.66 to £77.68, reflecting a series of higher Street price targets in the £6,400 to £9,300 range and updated assumptions for discount rate, revenue growth, and future P/E. Analyst Commentary Recent research on Rio Tinto Group points to a mixed but generally constructive stance on the stock, with most price targets clustering between £64 and £93 per share equivalent, and several analysts adjusting their models around valuation, execution on projects and commodity exposure.
LSEG
UK£82.80
London Stock Exchange Group
7D
-7.7%
1Y
-22.6%
Narrative Update • Jun 17

LSEG: Digital Expansion And Share Buybacks Will Support Future Share Price Upside

Analysts have nudged their price targets for London Stock Exchange Group higher, with one recent move adding £1.00 to the prior level. The change reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
AAL
UK£36.12
Anglo American
7D
-12.6%
1Y
80.1%
Narrative Update • Jun 16

AAL: Copper Shift And Iron Ore Risks Will Shape Fairly Balanced Outlook

Anglo American's fair value estimate has moved from £36.80 to £38.39 as analysts adjust price targets higher by several hundred pence and highlight a shift in growth focus toward copper over iron ore, while also reflecting updated assumptions for revenue growth, profit margins and future P/E. Analyst Commentary Recent research on Anglo American highlights a split view, with several bullish analysts lifting price targets while more cautious voices flag earnings pressure in iron ore and execution risks around the shift toward copper.
FRES
UK£27.73
Fresnillo
7D
-16.2%
1Y
92.7%
Narrative Update • Jun 16

FRES: Higher Revenue Assumptions And Cost Discipline Will Support Re Rating Potential

The analyst price target for Fresnillo has shifted to reflect a modest fair value adjustment to £54.36, as analysts reassessed assumptions for revenue growth, profit margins and future P/E following a series of mixed target changes from Citi, Morgan Stanley, JPMorgan and Berenberg. Analyst Commentary Recent research on Fresnillo highlights a split in opinion, but there are clear areas where bullish analysts see room for the stock to better reflect their reassessed fair value assumptions.
BATS
UK£46.78
British American Tobacco
7D
4.6%
1Y
33.0%
Narrative Update • Jun 15

BATS: Future Returns Will Reflect Smokeless Transition Progress And Dividend Dependability

Analysts have raised their fair value estimate for British American Tobacco from £46.21 to £50.27. This reflects updated assumptions around discount rates, profit margins and future P/E expectations.