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U.K. (FTSE) Market Analysis & Valuation

UpdatedMay 30, 2026
DataAggregated Company Financials
Companies1089
  • 7D-0.3%
  • 3M-4.4%
  • 1Y18.3%
  • YTD5.1%

In the last week, the market has been flat, with a notable exception in the Utilities sector dropping 5.4%. More promisingly, the market is up 18% over the past year. Looking forward, earnings are forecast to grow by 12% 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
Sat, 30 May 2026UK£2.9tUK£2.0tUK£164.7b16x17.9x1.5x
Mon, 27 Apr 2026UK£2.9tUK£2.0tUK£157.4b16x18.7x1.5x
Wed, 25 Mar 2026UK£2.8tUK£2.0tUK£156.6b14.7x17.8x1.4x
Fri, 20 Feb 2026UK£3.0tUK£2.0tUK£148.6b16.7x20.4x1.5x
Sun, 18 Jan 2026UK£2.9tUK£2.0tUK£137.9b16.7x21.3x1.5x
Tue, 16 Dec 2025UK£2.8tUK£2.0tUK£138.2b16x20.2x1.4x
Thu, 13 Nov 2025UK£2.8tUK£2.0tUK£138.0b16.5x20.5x1.4x
Sat, 11 Oct 2025UK£2.7tUK£1.9tUK£135.8b16.8x20x1.4x
Mon, 08 Sep 2025UK£2.7tUK£1.9tUK£135.5b16.4x19.7x1.4x
Wed, 06 Aug 2025UK£2.6tUK£2.0tUK£135.0b16.3x19.6x1.4x
Fri, 04 Jul 2025UK£2.5tUK£1.9tUK£126.8b16.2x19.6x1.3x
Sun, 01 Jun 2025UK£2.5tUK£1.9tUK£126.0b16.2x19.7x1.3x
Tue, 29 Apr 2025UK£2.4tUK£2.0tUK£134.4b15.3x17.8x1.2x
Thu, 27 Mar 2025UK£2.5tUK£2.0tUK£135.8b15.7x18.2x1.2x
Sat, 22 Feb 2025UK£2.5tUK£2.0tUK£137.5b16.2x18.2x1.2x
Mon, 20 Jan 2025UK£2.5tUK£2.1tUK£125.0b16x19.9x1.2x
Wed, 18 Dec 2024UK£2.4tUK£2.0tUK£122.0b15.9x19.7x1.2x
Fri, 15 Nov 2024UK£2.4tUK£2.0tUK£120.5b16.4x19.8x1.2x
Sun, 13 Oct 2024UK£2.4tUK£2.0tUK£118.8b16.3x20.2x1.2x
Tue, 10 Sep 2024UK£2.4tUK£2.0tUK£119.5b16.5x20.3x1.2x
Thu, 08 Aug 2024UK£2.4tUK£2.0tUK£126.0b16.4x19x1.2x
Sat, 06 Jul 2024UK£2.4tUK£2.0tUK£130.7b16.8x18.5x1.2x
Mon, 03 Jun 2024UK£2.5tUK£2.0tUK£129.3b17.3x19.1x1.2x
Wed, 01 May 2024UK£2.4tUK£2.1tUK£143.4b16.3x17x1.2x
Fri, 29 Mar 2024UK£2.4tUK£2.1tUK£145.9b16.4x16.5x1.1x
Sun, 25 Feb 2024UK£2.3tUK£2.1tUK£196.4b15.6x11.8x1.1x
Tue, 23 Jan 2024UK£2.3tUK£2.1tUK£193.5b14.6x11.7x1.1x
Thu, 21 Dec 2023UK£2.3tUK£2.1tUK£194.0b15.1x12.1x1.1x
Sat, 18 Nov 2023UK£2.3tUK£2.1tUK£194.6b14.4x11.6x1.1x
Mon, 16 Oct 2023UK£2.3tUK£2.2tUK£187.0b13.8x12.4x1.1x
Wed, 13 Sep 2023UK£2.3tUK£2.2tUK£185.5b14.5x12.5x1.1x
Fri, 11 Aug 2023UK£2.4tUK£2.1tUK£184.3b14.5x12.8x1.1x
Sun, 09 Jul 2023UK£2.3tUK£2.2tUK£207.1b14x10.9x1x
Tue, 06 Jun 2023UK£2.4tUK£2.2tUK£212.1b14.3x11.2x1.1x
Price to Earnings Ratio

11.2x


Total Market Cap: UK£2.4tTotal Earnings: UK£212.1bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17.5x202420252026
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 17.5x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 8.1% per year over the last three years.
  • Revenues have also declined 2.8% 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-0.27%
Industrials2.40%
Materials2.26%
Consumer Discretionary2.07%
Tech2.07%
Real Estate1.29%
Financials0.62%
Telecom-0.90%
Healthcare-1.07%
Energy-3.32%
Consumer Staples-3.35%
Utilities-5.36%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 52.4x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.5%, which is higher than its past year's earnings growth of 8.9% 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 10.1x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings growth rate of 4.6% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 6.9% 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
RR. Rolls-Royce HoldingsUK£13.377.1%
+UK£7.3b		54.4%PE18.9xIndustrials
HSBA HSBC HoldingsUK£13.941.4%
+UK£3.3b		59.6%PB1.6xFinancials
RIO Rio Tinto GroupUK£79.682.5%
+UK£3.1b		81.0%PE17.5xMaterials
ANTO AntofagastaUK£40.984.2%
+UK£1.6b		131.5%PE40.9xMaterials
AAL Anglo AmericanUK£39.884.0%
+UK£1.6b		59.3%PS3.1xMaterials
See more

Market Insights

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Earnings Season vs. AI

Latest News

RIO
UK£79.68
Rio Tinto Group
7D
2.5%
1Y
81.0%
AZN
UK£138.02
AstraZeneca
7D
-0.8%
1Y
28.7%
RR.
UK£13.37
Rolls-Royce Holdings
7D
7.1%
1Y
54.4%
HSBA
UK£13.94
HSBC Holdings
7D
1.4%
1Y
59.6%
LLOY
UK£1.02
Lloyds Banking Group
7D
2.3%
1Y
32.0%
Narrative Update • May 28

LLOY: Recent Buyback Will Still Not Justify Richer Future Multiple

Analysts have made a small upward adjustment to their Lloyds Banking Group price target in £ terms, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E that are now slightly different from prior estimates. What's in the News Lloyds Banking Group completed a share buyback tranche covering 600,000,000 shares, described as 1.02% of the company, between January 30, 2026 and March 31, 2026 (Key Developments).
BT.A
UK£2.09
BT Group
7D
-7.1%
1Y
16.4%
Narrative Update • May 28

BT.A: Fibre Monetisation And Cash Generation Will Support Future Re Rating

BT Group's latest analyst price target moves higher to £1.50, with analysts pointing to improved fibre monetisation potential, inclusion on key conviction lists, and updated expectations for margins and valuation multiples as key drivers of the change. Analyst Commentary Bullish analysts are highlighting a more constructive view on BT Group, with recent research updates pointing to shifts in both ratings and price targets that reflect greater confidence in execution and cash generation.
BARC
UK£4.58
Barclays
7D
2.7%
1Y
39.8%
Narrative Update • May 27

BARC: Buyback And Small Business Partnership Will Support Stronger Future Returns

Analysts have nudged their fair value estimate for Barclays to £5.39, up from £5.30, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. What's in the News Barclays PLC has announced a share repurchase program of up to £500 million, with all repurchased ordinary shares to be cancelled and the program scheduled to end no later than October 24, 2026 (Key Developments).
SHEL
UK£31.18
Shell
7D
-2.7%
1Y
27.3%
BP.
UK£5.22
BP
7D
-5.3%
1Y
45.0%
IAG
UK£4.30
International Consolidated Airlines Group
7D
8.4%
1Y
31.9%
Narrative Update • May 26

IAG: Dividend And Buyback Plans Will Support Future Repricing Potential

Analysts have slightly lifted the blended price target for International Consolidated Airlines Group, with ongoing revisions in the range of £0.15 to £0.40 per share as they factor in updated fair value estimates, revenue expectations and margin assumptions. Analyst Commentary Recent research on International Consolidated Airlines Group is mixed, but you can see a clear group of bullish analysts who are focusing on valuation support, execution on current plans and potential for revenue growth.
NG.
UK£11.96
National Grid
7D
-6.7%
1Y
14.2%
Analysis Article • May 21

We Think That There Are Some Issues For National Grid (LON:NG.) Beyond Its Promising Earnings

National Grid plc's ( LON:NG. ) healthy profit numbers didn't contain any surprises for investors. We think this is due...
AAL
UK£39.88
Anglo American
7D
4.0%
1Y
59.3%
TSCO
UK£4.30
Tesco
7D
-7.0%
1Y
10.9%
ANTO
UK£40.98
Antofagasta
7D
4.2%
1Y
131.5%
Narrative Update • May 15

ANTO: Geopolitical And Sector Risks Will Likely Pressure Copper Upside Potential

Analysts have nudged the fair value estimate for Antofagasta slightly lower to £23.50 from about £23.72, reflecting a modestly higher discount rate and mixed price target revisions, with several recent moves in the £100 to £600 range across the broker community. Analyst Commentary Recent Street research on Antofagasta shows a wide spread of views, with some firms lifting price targets while others turn more cautious.
BATS
UK£45.91
British American Tobacco
7D
-5.8%
1Y
37.7%
LSEG
UK£90.22
London Stock Exchange Group
7D
-3.3%
1Y
-20.0%
Narrative Update • May 03

LSEG: Activist Pressure And AI Partnerships Will Support Future Share Upside

Analysts have nudged their price targets on London Stock Exchange Group higher, with one recent move adding £1.00. This reflects updated views on fair value, discount rate, revenue growth assumptions, profit margin and future P/E levels.