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U.K. (FTSE) Market Analysis & Valuation

UpdatedSep 22, 2025
DataAggregated Company Financials
Companies1117
  • 7D-0.6%
  • 3M5.1%
  • 1Y10.7%
  • YTD11.0%

The market has been flat in the last week, however the Healthcare sector is down 3.3%. As for the longer term, the market has risen 11% in the past 12 months. Looking forward, earnings are forecast to grow by 14% annually.

Trending IndustriesOil and GasGoldBiotechSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 22 Sep 2025UK£2.7tUK£1.9tUK£135.9b16.4x19.6x1.4x
Wed, 20 Aug 2025UK£2.7tUK£1.9tUK£134.2b15.9x19.8x1.4x
Fri, 18 Jul 2025UK£2.5tUK£1.9tUK£127.6b15.9x19.8x1.3x
Sun, 15 Jun 2025UK£2.5tUK£1.9tUK£127.3b16.1x19.7x1.3x
Tue, 13 May 2025UK£2.5tUK£2.0tUK£131.3b15.9x18.7x1.2x
Thu, 10 Apr 2025UK£2.2tUK£2.0tUK£137.0b14.3x16x1.1x
Sat, 08 Mar 2025UK£2.5tUK£2.0tUK£137.6b15.5x18.1x1.2x
Mon, 03 Feb 2025UK£2.5tUK£2.0tUK£124.1b15.9x20.3x1.2x
Wed, 01 Jan 2025UK£2.4tUK£2.0tUK£122.7b15.9x19.6x1.2x
Fri, 29 Nov 2024UK£2.4tUK£2.0tUK£122.9b16.4x19.8x1.2x
Sun, 27 Oct 2024UK£2.4tUK£2.0tUK£123.6b16.2x19.7x1.2x
Tue, 24 Sep 2024UK£2.4tUK£2.0tUK£118.1b16.9x19.9x1.2x
Thu, 22 Aug 2024UK£2.4tUK£2.0tUK£120.1b17x20.3x1.2x
Sat, 20 Jul 2024UK£2.4tUK£2.0tUK£129.3b16.7x18.7x1.2x
Mon, 17 Jun 2024UK£2.4tUK£2.0tUK£130.3b16.4x18.6x1.2x
Wed, 15 May 2024UK£2.5tUK£2.1tUK£135.8b17x18.5x1.2x
Fri, 12 Apr 2024UK£2.4tUK£2.1tUK£147.6b15.9x16.2x1.1x
Sun, 10 Mar 2024UK£2.3tUK£2.1tUK£144.3b15.8x16.2x1.1x
Tue, 06 Feb 2024UK£2.3tUK£2.1tUK£178.7b14.8x12.7x1.1x
Thu, 04 Jan 2024UK£2.3tUK£2.1tUK£194.1b15.1x12x1.1x
Sat, 02 Dec 2023UK£2.3tUK£2.1tUK£193.0b14.4x11.8x1.1x
Mon, 30 Oct 2023UK£2.2tUK£2.2tUK£186.2b13.4x11.8x1x
Wed, 27 Sep 2023UK£2.3tUK£2.2tUK£187.2b14.3x12.5x1.1x
Fri, 25 Aug 2023UK£2.3tUK£2.2tUK£184.8b14.4x12.2x1.1x
Sun, 23 Jul 2023UK£2.4tUK£2.2tUK£206.7b14.1x11.6x1.1x
Tue, 20 Jun 2023UK£2.4tUK£2.2tUK£207.6b14.3x11.4x1.1x
Thu, 18 May 2023UK£2.4tUK£2.2tUK£219.1b14.4x11.1x1.1x
Sat, 15 Apr 2023UK£2.5tUK£2.2tUK£179.8b14x13.7x1.1x
Mon, 13 Mar 2023UK£2.5tUK£2.2tUK£189.2b13.5x13.1x1.1x
Wed, 08 Feb 2023UK£2.5tUK£2.1tUK£192.4b13.9x13.1x1.2x
Fri, 06 Jan 2023UK£2.5tUK£2.1tUK£186.7b13.4x13.2x1.2x
Sun, 04 Dec 2022UK£2.4tUK£2.1tUK£185.6b13.6x13.2x1.2x
Tue, 01 Nov 2022UK£2.3tUK£2.3tUK£210.4b12.3x11.1x1x
Thu, 29 Sep 2022UK£2.3tUK£2.4tUK£212.8b12x10.9x1x
Price to Earnings Ratio

10.9x


Total Market Cap: UK£2.3tTotal Earnings: UK£212.8bTotal Revenue: UK£2.4tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 15.8x202320242025
Current Market PE
  • Investors are optimistic on the British market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 19.6x which is higher than its 3-year average PE of 15.8x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 14% per year over the last three years.
  • Revenues have also declined 6.4% 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-0.65%
Tech1.72%
Materials1.52%
Real Estate1.49%
Industrials0.059%
Financials0.058%
Consumer Discretionary-0.52%
Energy-0.66%
Utilities-0.67%
Consumer Staples-1.81%
Telecom-2.15%
Healthcare-3.32%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 52.5x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 20.7%, which is higher than its past year's earnings growth of 10.8% 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 growth rate of 5.9% per year.
  • In contrast, the Industrials sector is expected to see its earnings grow by 6.1% 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
HSBA HSBC HoldingsUK£10.281.4%
+UK£2.3b		53.2%PB1.2xFinancials
GLEN GlencoreUK£3.132.0%
+UK£721.6m		-18.7%PS0.2xMaterials
GSK GSKUK£14.971.2%
+UK£694.4m		-2.0%PE17.6xHealthcare
FRES FresnilloUK£22.763.6%
+UK£589.5m		282.2%PE49.5xMaterials
REL RELXUK£34.810.8%
+UK£459.3m		-5.0%PE33xIndustrials
See more

Market Insights

Header cover image
🥇 Gold Breaks Records While Oil Sinks: Commodities 2025 in Contrast
Richard Bowman avatar
Richard Bowman
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It’s been a while since we checked in on commodity markets, which, like other markets, are having quite the interesting year. In particular, gold continues its march upward, while oil remains in a slump. As for the rest, most have been up and down and ended up close to where they were a year ago. By the end, you’ll see why gold stocks still look cheap despite these record prices — and why oil stocks, oddly enough, look expensive even as crude declines.
Continue reading
🥇 Gold Breaks Records While Oil Sinks: Commodities 2025 in Contrast
Last Week

🥇 Gold Breaks Records While Oil Sinks: Commodities 2025 in Contrast

Latest News

AZN
UK£113.04
AstraZeneca
7D
-1.0%
1Y
-2.4%
ANTO
UK£23.23
Antofagasta
7D
1.8%
1Y
27.3%

Copper Expansion And Water Efficiency Will Secure Future Production

Analysts have modestly raised Antofagasta’s price target to £20.57, citing stronger copper price forecasts, resilient operational performance, and easing input cost pressures, though some caution remains following recent share price gains. Analyst Commentary Bullish analysts are responding to stronger copper price forecasts and anticipated demand growth driven by ongoing electrification and green energy trends.
HSBA
UK£10.28
HSBC Holdings
7D
1.4%
1Y
53.2%

Asian Wealth Management And Trade Networks Will Sustain Future Resilience

HSBC Holdings' future P/E ratio has dropped notably from 10.86x to 8.22x, indicating improved forward earnings expectations and valuation, while the consensus analyst price target was adjusted marginally higher from £9.49 to £9.65. What's in the News Hackers attempted to steal $77.4M from Brazilian financial institutions, including HSBC's local operations, but HSBC confirmed no customer accounts or funds were impacted and measures were taken to block transactions (Bloomberg).
GLEN
UK£3.13
Glencore
7D
2.0%
1Y
-18.7%

Normalized Copper Production And Argentina Projects Will Shape Future Success

Glencore’s consensus price target has edged lower to £3.66 as analysts react to near-term free cash flow pressure from coal price weakness and commodity market volatility, though confidence in the company’s diversified assets and long-term positioning has limited the downward revision. Analyst Commentary Analysts cite near-term pressure on Glencore's free cash flow due to weakness in coal prices, leading to more cautious stances.
REL
UK£34.81
RELX
7D
0.8%
1Y
-5.0%

Investors Should Be Encouraged By RELX's (LON:REL) Returns On Capital

Sep 19
Investors Should Be Encouraged By RELX's (LON:REL) Returns On Capital
BA.
UK£19.52
BAE Systems
7D
-3.2%
1Y
53.1%

BAE Systems (LON:BA.) Has Announced A Dividend Of £0.135

Sep 19
BAE Systems (LON:BA.) Has Announced A Dividend Of £0.135
GSK
UK£14.97
GSK
7D
1.2%
1Y
-2.0%

Market Cool On GSK plc's (LON:GSK) Earnings

Sep 19
Market Cool On GSK plc's (LON:GSK) Earnings
FRES
UK£22.76
Fresnillo
7D
3.6%
1Y
282.2%

Is Fresnillo (LON:FRES) Using Too Much Debt?

Sep 18
Is Fresnillo (LON:FRES) Using Too Much Debt?
LLOY
UK£0.82
Lloyds Banking Group
7D
-2.7%
1Y
41.4%
LSEG
UK£81.38
London Stock Exchange Group
7D
-6.9%
1Y
-21.4%
HLN
UK£3.38
Haleon
7D
-5.1%
1Y
-14.4%

Haleon (LON:HLN) Seems To Use Debt Quite Sensibly

Sep 15
Haleon (LON:HLN) Seems To Use Debt Quite Sensibly
BATS
UK£40.31
British American Tobacco
7D
-2.4%
1Y
42.0%
SGE
UK£11.00
Sage Group
7D
3.2%
1Y
8.0%

Should You Be Adding Sage Group (LON:SGE) To Your Watchlist Today?

Sep 13
Should You Be Adding Sage Group (LON:SGE) To Your Watchlist Today?
RR.
UK£11.50
Rolls-Royce Holdings
7D
0.4%
1Y
116.9%
SHEL
UK£26.13
Shell
7D
-0.5%
1Y
1.4%

LNG Investments And Cost Cuts Will Support Future Energy Resilience

Shell’s consensus price target was slightly reduced to £30.10 as bullish sentiment on strong Q2 results and sector tailwinds was tempered by concerns over near-term momentum, resulting in minor downward revisions rather than a fundamental change in outlook. Analyst Commentary Bullish analysts highlight Shell’s robust second quarter results, emphasizing the company’s distinctive growth prospects, deep resource base, and commitment to sustainable shareholder returns.
NWG
UK£5.13
NatWest Group
7D
-4.7%
1Y
52.5%

Digital Transformation And Sustainable Finance Will Drive Progress

NatWest Group’s consensus price target has been modestly raised to £5.91, reflecting analyst confidence in improved earnings visibility, stable UK economic conditions, operational efficiency, and capital return potential. Analyst Commentary Bullish analysts cite improved earnings visibility and confidence in NatWest’s underlying profitability as drivers for higher price targets.