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U.K. (FTSE) Market Analysis & Valuation

UpdatedMar 14, 2026
DataAggregated Company Financials
Companies1089
  • 7D-0.6%
  • 3M6.4%
  • 1Y19.0%
  • YTD3.0%

In the last week, the market has stayed flat, however the Energy sector stood out, gaining 6.4%. As for the longer term, the market has risen 19% in the past 12 months. As for the next few years, earnings are expected to grow by 12% per annum.

Trending IndustriesOil and GasGoldBiotechSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 14 Mar 2026UK£2.9tUK£2.0tUK£156.9b16x18.4x1.4x
Mon, 09 Feb 2026UK£3.0tUK£1.9tUK£140.6b16.9x21.1x1.5x
Wed, 07 Jan 2026UK£2.9tUK£2.0tUK£137.7b16.5x21x1.5x
Fri, 05 Dec 2025UK£2.8tUK£2.0tUK£139.1b16.2x20.1x1.4x
Sun, 02 Nov 2025UK£2.8tUK£2.0tUK£138.8b16.5x20.1x1.4x
Tue, 30 Sep 2025UK£2.7tUK£1.9tUK£135.9b16.6x19.8x1.4x
Thu, 28 Aug 2025UK£2.7tUK£1.9tUK£135.3b16x19.8x1.4x
Sat, 26 Jul 2025UK£2.6tUK£1.9tUK£125.2b16.3x20.5x1.3x
Mon, 23 Jun 2025UK£2.5tUK£1.9tUK£127.6b16.4x19.4x1.3x
Wed, 21 May 2025UK£2.5tUK£2.0tUK£127.4b16.7x19.6x1.3x
Fri, 18 Apr 2025UK£2.4tUK£2.0tUK£135.0b15.3x17.5x1.2x
Sun, 16 Mar 2025UK£2.5tUK£2.0tUK£137.0b15x18.1x1.2x
Tue, 11 Feb 2025UK£2.5tUK£2.0tUK£124.0b16x20.5x1.2x
Thu, 09 Jan 2025UK£2.4tUK£2.1tUK£123.9b16.1x19.5x1.2x
Sat, 07 Dec 2024UK£2.4tUK£2.0tUK£122.3b16.4x20x1.2x
Mon, 04 Nov 2024UK£2.4tUK£2.0tUK£118.3b16.3x20.4x1.2x
Wed, 02 Oct 2024UK£2.4tUK£2.0tUK£117.8b16.6x20.6x1.2x
Fri, 30 Aug 2024UK£2.5tUK£2.0tUK£119.1b17x20.7x1.2x
Sun, 28 Jul 2024UK£2.4tUK£2.0tUK£127.1b16.5x19.2x1.2x
Tue, 25 Jun 2024UK£2.4tUK£2.0tUK£131.8b16.5x18.5x1.2x
Thu, 23 May 2024UK£2.5tUK£2.0tUK£125.8b17x19.9x1.2x
Sat, 20 Apr 2024UK£2.4tUK£2.1tUK£147.5b15.7x16.1x1.1x
Mon, 18 Mar 2024UK£2.3tUK£2.1tUK£145.0b16.1x16.1x1.1x
Wed, 14 Feb 2024UK£2.2tUK£2.0tUK£144.9b14.9x15.5x1.1x
Fri, 12 Jan 2024UK£2.3tUK£2.1tUK£193.3b14.9x11.9x1.1x
Sun, 10 Dec 2023UK£2.3tUK£2.1tUK£194.1b14.6x11.8x1.1x
Tue, 07 Nov 2023UK£2.2tUK£2.1tUK£193.7b13.8x11.5x1x
Thu, 05 Oct 2023UK£2.3tUK£2.2tUK£186.6b14.1x12.4x1.1x
Sat, 02 Sep 2023UK£2.3tUK£2.2tUK£184.1b14.5x12.5x1.1x
Mon, 31 Jul 2023UK£2.4tUK£2.2tUK£193.6b14.4x12.4x1.1x
Wed, 28 Jun 2023UK£2.3tUK£2.2tUK£208.3b14.1x11.1x1.1x
Fri, 26 May 2023UK£2.4tUK£2.2tUK£216.7b14.2x11.1x1.1x
Sun, 23 Apr 2023UK£2.5tUK£2.2tUK£178.7b14.1x13.9x1.1x
Tue, 21 Mar 2023UK£2.3tUK£2.2tUK£182.4b13.5x12.4x1x
Price to Earnings Ratio

12.4x


Total Market Cap: UK£2.3tTotal Earnings: UK£182.4bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17.1x202420252026
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 17.1x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 4.9% per year over the last three years.
  • Revenues have also declined 2.7% 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-0.58%
Energy6.42%
Utilities2.99%
Consumer Staples0.49%
Telecom-0.26%
Healthcare-0.79%
Tech-1.58%
Industrials-1.74%
Materials-1.77%
Financials-2.76%
Consumer Discretionary-2.80%
Real Estate-4.53%
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 53.4x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.7%, which is higher than its past year's earnings growth of 7.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 32% over the next 5 years.
  • This is better than its past earnings decline of 1.2% per year.
  • In contrast, the Consumer Staples sector is expected to see its earnings grow by 6.6% 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
SHEL ShellUK£33.687.5%
+UK£13.2b		27.9%PE14.1xEnergy
BP. BPUK£5.347.1%
+UK£5.4b		24.5%PE2011.6xEnergy
BATS British American TobaccoUK£45.195.5%
+UK£5.1b		42.8%PE12.8xConsumer Staples
BA. BAE SystemsUK£23.074.2%
+UK£2.8b		39.2%PE33.3xIndustrials
GLEN GlencoreUK£5.183.1%
+UK£1.9b		61.6%PE221.3xMaterials
See more

Market Insights

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Why international stocks are starting to outpace the U.S.
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From Europe to Asia, global markets surged in 2025 while U.S. earnings growth became more concentrated. Early signs suggest this might continue.
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What the next 25 years will look like 🔮

Latest News

BARC
UK£3.86
Barclays
7D
-4.4%
1Y
31.0%
SHEL
UK£33.68
Shell
7D
7.5%
1Y
27.9%
BP.
UK£5.34
BP
7D
7.1%
1Y
24.5%
STAN
UK£15.47
Standard Chartered
7D
-5.7%
1Y
31.4%
GLEN
UK£5.18
Glencore
7D
3.1%
1Y
61.6%

GLEN: Fair Outlook Weighs Ended Megamerger Talks And Mixed Earnings Expectations

Glencore's updated analyst price target edges lower to £4.60, reflecting a mix of recent target cuts and raises as analysts factor in slightly higher discount rates, modestly softer revenue growth and profit margin assumptions, and a higher assumed future P/E multiple. Analyst Commentary Recent research on Glencore shows a split in views, with some high profile firms lifting their targets and others turning more cautious.
ANTO
UK£35.03
Antofagasta
7D
-6.3%
1Y
89.2%
BA.
UK£23.07
BAE Systems
7D
4.2%
1Y
39.2%
BATS
UK£45.19
British American Tobacco
7D
5.5%
1Y
42.8%
TSCO
UK£4.89
Tesco
7D
4.8%
1Y
44.1%

TSCO: Store Partnerships And Execution Will Shape Fairly Valued Future Returns

Analysts have trimmed their Tesco price target to £4.80 from £5.00, reflecting slightly adjusted assumptions for fair value, discount rate, revenue, profit margin and future P/E multiples. Analyst Commentary Recent commentary around Tesco focuses on how the adjusted £4.80 price target lines up with expectations on valuation, execution and growth.
NG.
UK£13.74
National Grid
7D
2.7%
1Y
42.2%

NG.: Margin Resilience And P/E Expectations Will Shape Predictable Future Returns

Analysts have nudged their National Grid fair value estimate higher from £12.47 to £13.14, pointing to slightly firmer profit margin expectations and a modestly higher future P/E multiple, even as revenue growth assumptions are trimmed. Analyst Commentary Bullish Takeaways Bullish analysts view the uplift in fair value to £13.14 as consistent with a business that can sustain firmer profit margins over time, which they see as supportive of the overall earnings quality story.
AZN
UK£143.80
AstraZeneca
7D
-0.8%
1Y
19.9%
SSE
UK£27.30
SSE
7D
4.1%
1Y
79.1%

SSE: Offshore Wind Contracts Will Shape Future Returns At Fairly Priced Shares

Narrative Update on SSE The updated analyst price target for SSE has increased to £26.00, with analysts noting recent target revisions from several firms as supporting this updated view. Analyst Commentary Recent research commentary on SSE has centred on higher price targets, with several bullish analysts revisiting their assumptions on valuation and execution.
RKT
UK£53.56
Reckitt Benckiser Group
7D
-4.0%
1Y
0.2%
ULVR
UK£48.35
Unilever
7D
-2.0%
1Y
-5.3%

ULVR: Margin Delivery By FY26 Will Drive Upside Case

Narrative Update on Unilever Unilever's analyst price target has edged higher, with modestly improved fair value assumptions to about £60.52 and slightly adjusted discount rate, revenue growth, profit margin and future P/E inputs, as analysts factor in recent target revisions that reflect a more balanced risk and reward profile and ongoing debate over pricing and margin potential. Analyst Commentary Recent Street research on Unilever points to a mixed but generally more balanced view, with several firms revisiting their assumptions on valuation, pricing power and margin potential.
RR.
UK£12.16
Rolls-Royce Holdings
7D
-3.9%
1Y
52.6%
HSBA
UK£11.80
HSBC Holdings
7D
-5.2%
1Y
35.7%

HSBC Holdings PLC (HSBA): Navigating Valuation Discrepancies in the Global Banking Giant.

HSBC Holdings continues to be a focal point for value investors, currently trading at 1,286.00p on the London Stock Exchange as of the March 4, 2026, close. While some platforms like Simply Wall St may display the price as £12.63 , it is important to note that UK equities are traditionally quoted in pence (GBX) rather than pounds (GBP), meaning a quote of £12.63 is mathematically equivalent to 1,263p.