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U.K. (FTSE) Market Analysis & Valuation

UpdatedApr 01, 2026
DataAggregated Company Financials
Companies1084
  • 7D2.0%
  • 3M2.0%
  • 1Y17.9%
  • YTD1.8%

The market has climbed 2.0% in the last 7 days, lead by the Healthcare sector with a gain of 5.1%. As for the past 12 months, the market is up 18%. Earnings are forecast to grow by 12% 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, 02 Apr 2026UK£2.9tUK£2.0tUK£157.9b15x18.1x1.4x
Sat, 28 Feb 2026UK£3.1tUK£2.0tUK£151.7b16.8x20.5x1.6x
Mon, 26 Jan 2026UK£2.9tUK£1.9tUK£137.0b16.8x21.3x1.5x
Wed, 24 Dec 2025UK£2.8tUK£2.0tUK£138.9b16x20.4x1.4x
Fri, 21 Nov 2025UK£2.7tUK£2.0tUK£139.6b16.2x19.6x1.4x
Sun, 19 Oct 2025UK£2.7tUK£1.9tUK£135.4b16.4x19.9x1.4x
Tue, 16 Sep 2025UK£2.7tUK£1.9tUK£135.2b16.6x19.8x1.4x
Thu, 14 Aug 2025UK£2.7tUK£1.9tUK£133.5b15.8x19.9x1.4x
Sat, 12 Jul 2025UK£2.5tUK£1.9tUK£127.0b16.2x19.9x1.3x
Mon, 09 Jun 2025UK£2.5tUK£1.9tUK£127.0b16.2x19.6x1.3x
Wed, 07 May 2025UK£2.4tUK£2.0tUK£130.3b16.1x18.8x1.3x
Fri, 04 Apr 2025UK£2.4tUK£2.0tUK£135.5b15x17.8x1.2x
Sun, 02 Mar 2025UK£2.5tUK£2.0tUK£139.0b15.7x18.2x1.2x
Tue, 28 Jan 2025UK£2.5tUK£2.1tUK£123.4b15.9x20.1x1.2x
Thu, 26 Dec 2024UK£2.4tUK£2.0tUK£122.9b15.9x19.5x1.2x
Sat, 23 Nov 2024UK£2.4tUK£2.1tUK£123.9b16.4x19.6x1.2x
Mon, 21 Oct 2024UK£2.4tUK£2.0tUK£118.7b16.5x20.5x1.2x
Wed, 18 Sep 2024UK£2.4tUK£2.0tUK£118.8b16.7x20.6x1.2x
Fri, 16 Aug 2024UK£2.5tUK£2.0tUK£122.2b16.6x20.1x1.2x
Sun, 14 Jul 2024UK£2.4tUK£2.0tUK£129.8b17x18.8x1.2x
Tue, 11 Jun 2024UK£2.5tUK£2.0tUK£129.9b16.7x18.9x1.2x
Thu, 09 May 2024UK£2.5tUK£2.1tUK£137.4b16.7x18.1x1.2x
Sat, 06 Apr 2024UK£2.4tUK£2.1tUK£146.0b16x16.4x1.1x
Mon, 04 Mar 2024UK£2.3tUK£2.0tUK£142.0b15.3x16.3x1.1x
Wed, 31 Jan 2024UK£2.3tUK£2.1tUK£192.5b14.9x12x1.1x
Fri, 29 Dec 2023UK£2.3tUK£2.1tUK£193.6b15x12.1x1.1x
Sun, 26 Nov 2023UK£2.3tUK£2.1tUK£193.7b14.4x11.7x1.1x
Tue, 24 Oct 2023UK£2.3tUK£2.2tUK£186.6b13.5x12.1x1x
Thu, 21 Sep 2023UK£2.4tUK£2.2tUK£185.2b14.6x12.8x1.1x
Sat, 19 Aug 2023UK£2.2tUK£2.1tUK£184.2b14.2x12.2x1.1x
Mon, 17 Jul 2023UK£2.3tUK£2.2tUK£204.7b14x11.3x1.1x
Wed, 14 Jun 2023UK£2.4tUK£2.2tUK£209.6b14.3x11.3x1.1x
Fri, 12 May 2023UK£2.4tUK£2.2tUK£210.8b14.4x11.5x1.1x
Sun, 09 Apr 2023UK£2.4tUK£2.2tUK£180.0b13.8x13.5x1.1x
Price to Earnings Ratio

13.5x


Total Market Cap: UK£2.4tTotal Earnings: UK£180.0bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17.2x202420252026
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 4.3% 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 Market1.99%
Healthcare5.12%
Materials4.92%
Energy4.73%
Utilities3.59%
Tech2.18%
Financials1.03%
Telecom0.19%
Consumer Discretionary0.072%
Industrials-0.11%
Real Estate-0.53%
Consumer Staples-0.94%
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 53.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.1%, which is higher than its past year's earnings growth of 7.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 31% over the next 5 years.
  • This is better than its past earnings decline of 3.0% 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
AZN AstraZenecaUK£150.226.8%
+UK£14.9b		33.8%PE30.3xHealthcare
HSBA HSBC HoldingsUK£12.876.2%
+UK£12.9b		45.7%PB1.5xFinancials
RIO Rio Tinto GroupUK£70.988.2%
+UK£8.7b		54.3%PE15.4xMaterials
NWG NatWest GroupUK£5.837.4%
+UK£3.2b		25.8%PB1.1xFinancials
GLEN GlencoreUK£5.654.7%
+UK£3.0b		99.6%PE242.5xMaterials
See more

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Latest News

ULVR
UK£41.87
Unilever
7D
-7.4%
1Y
-19.9%
RIO
UK£70.98
Rio Tinto Group
7D
8.2%
1Y
54.3%

RIO: Cautious Outlook As Copper And Iron Ore Assumptions Turn More Conservative

Analysts have raised the fair value estimate for Rio Tinto Group to £58.52 from £41.00. This change reflects updated views on revenue growth, profit margins and sector valuation following a series of mixed price target revisions and rating downgrades across the Street.
III
UK£25.63
3i Group
7D
-8.2%
1Y
-29.7%
BP.
UK£5.84
BP
7D
3.0%
1Y
34.9%
BA.
UK£22.37
BAE Systems
7D
3.7%
1Y
42.4%
BATS
UK£43.13
British American Tobacco
7D
-1.1%
1Y
38.2%
AV.
UK£6.19
Aviva
7D
-0.9%
1Y
10.7%
GLEN
UK£5.65
Glencore
7D
4.7%
1Y
99.6%

GLEN: Fair Outlook Balances Ended Megamerger Talks And Evolving Earnings Expectations

Glencore's analyst price target has shifted within a relatively tight range, with moves such as JPMorgan trimming its view to £4.60 and Berenberg nudging its target to £6.00. Analysts are reassessing fair value using slightly lower discount rates, modestly different revenue growth assumptions, and small adjustments to expected profit margins and future P/E.
AZN
UK£150.22
AstraZeneca
7D
6.8%
1Y
33.8%
BKG
UK£31.04
Berkeley Group Holdings
7D
-11.1%
1Y
-12.7%

BKG: JPMorgan Upgrade And Higher Discount Rate Will Shape Future Returns

Analysts have reduced their fair value estimate for Berkeley Group Holdings to £42.99 from £43.15, reflecting slightly higher discount rate assumptions and more cautious revenue growth expectations following recent research updates. Analyst Commentary Bullish Takeaways Bullish analysts point to the recent upgrade highlighted by JPMorgan as a signal that, even with a slightly lower fair value estimate of £42.99, the current valuation still leaves room for a constructive long term view on execution quality.
AAF
UK£3.52
Airtel Africa
7D
-3.8%
1Y
109.8%
HSBA
UK£12.87
HSBC Holdings
7D
6.2%
1Y
45.7%
PRU
UK£10.77
Prudential
7D
-1.4%
1Y
28.8%

PRU: Future Buybacks And Rising Cash Returns Will Support Upside Confidence

Analysts have nudged up the price target on Prudential, with recent moves from £1,270 to £1,500 supported by updated assumptions around higher revenue growth, a lower future P/E and a recalibrated profit margin outlook. Analyst Commentary Recent research updates on Prudential cluster around higher price targets and refreshed assumptions on growth, profitability and valuation multiples.
SHEL
UK£34.80
Shell
7D
1.4%
1Y
25.2%
NWG
UK£5.83
NatWest Group
7D
7.4%
1Y
25.8%

NWG: Evelyn Deal And Capital Returns Will Drive Future Share Upside

Analysts have nudged their fair value estimate for NatWest Group higher to £7.24 per share from £7.11, citing recent price target increases in the range of £6.70 to £8.40 and updated earnings estimates following the Evelyn Partners acquisition. Analyst Commentary Recent research points to a mixed but constructive view on NatWest Group, with several firms updating ratings and price targets around the time of the Evelyn Partners acquisition and the share price move that followed.
GAW
UK£176.54
Games Workshop Group
7D
-4.4%
1Y
26.5%