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U.K. (FTSE) Market Analysis & Valuation

UpdatedJul 10, 2026
DataAggregated Company Financials
Companies1082
  • 7D-1.7%
  • 3M-1.4%
  • 1Y15.5%
  • YTD4.8%

Over the last 7 days, the market has dropped 1.7%, driven by a pullback of 5.6% in the Healthcare sector. Meanwhile, the Energy sector has outperformed, gaining 3.9% in that time. In the last year, the market is actually up 16%. 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
Fri, 10 Jul 2026UK£2.9tUK£2.0tUK£164.5b15.8x17.8x1.4x
Sun, 07 Jun 2026UK£2.9tUK£2.0tUK£165.1b15.9x17.7x1.4x
Tue, 05 May 2026UK£3.0tUK£2.0tUK£160.4b15.9x18.4x1.5x
Thu, 02 Apr 2026UK£2.9tUK£2.0tUK£158.2b15.1x18.4x1.5x
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
Price to Earnings Ratio

11.3x


Total Market Cap: UK£2.3tTotal Earnings: UK£204.7bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17.7x202420252026
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 17.7x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 7.0% per year over the last three years.
  • Revenues have also declined 2.1% 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-1.69%
Energy3.94%
Financials-0.13%
Utilities-0.47%
Real Estate-0.61%
Consumer Discretionary-2.14%
Telecom-2.17%
Consumer Staples-2.21%
Industrials-2.53%
Tech-3.70%
Materials-4.00%
Healthcare-5.62%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 51.6x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.0%, which is higher than its past year's earnings growth of 7.6% 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 1.5% per year.
  • In contrast, the Consumer Staples 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
SHEL ShellUK£30.414.9%
+UK£7.9b		14.4%PE12.1xEnergy
BP. BPUK£4.823.7%
+UK£2.7b		23.9%PE31.1xEnergy
HSBA HSBC HoldingsUK£14.560.8%
+UK£1.9b		58.3%PB1.7xFinancials
LSEG London Stock Exchange GroupUK£87.681.9%
+UK£779.1m		-19.4%PE34.2xFinancials
III 3i GroupUK£26.582.8%
+UK£737.3m		-36.8%PE5.1xFinancials
See more

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Latest News

GSK
UK£19.60
GSK
7D
-2.2%
1Y
34.7%
BP.
UK£4.82
BP
7D
3.7%
1Y
23.9%
BA.
UK£18.39
BAE Systems
7D
-7.2%
1Y
-2.0%
AZN
UK£133.54
AstraZeneca
7D
-8.1%
1Y
25.7%
HSBA
UK£14.56
HSBC Holdings
7D
0.8%
1Y
58.3%
BARC
UK£5.07
Barclays
7D
-2.9%
1Y
47.5%
Narrative Update • Jul 09

BARC: Share Buybacks And Improved Profitability Assumptions Will Support Higher Share Price

Analysts have adjusted their fair value estimate for Barclays from £5.90 to £6.30, citing updated assumptions for discount rates, revenue growth, profit margins, and future P/E expectations. What’s in the News for Barclays Barclays completed a share repurchase of 110,060,483 shares, representing 0.8% of its share capital, for £500 million under the buyback announced on April 28, 2026.
KLR
UK£34.38
Keller Group
7D
27.5%
1Y
144.2%
Narrative Update • Jul 08

KLR: Fair Outlook Balances Strong North America Update With Execution Risks

Analysts have lifted the fair value estimate for Keller Group from £22.50 to £34.00 after recent price target increases to about £31.00 per share. They cited updated earnings expectations and revised assumptions for revenue growth, profit margins and future P/E multiples.
ULVR
UK£45.51
Unilever
7D
-1.8%
1Y
-10.7%
Narrative Update • Jul 08

ULVR: Mid Term Volume And Margin Pressures Will Likely Cap Shares

Unilever's analyst price target has edged up by £100 to £3,800, as analysts point to improving revenue growth and slightly stronger profit margins, while still flagging risks to mid term volumes and valuation. Analyst Commentary Recent research on Unilever reflects a mixed backdrop, with the latest price target move to £3,800 framed within ongoing concerns about volume momentum, margin delivery and how the stock is valued relative to peers.
LSEG
UK£87.68
London Stock Exchange Group
7D
1.9%
1Y
-19.4%
SHEL
UK£30.41
Shell
7D
4.9%
1Y
14.4%
REL
UK£23.75
RELX
7D
0.9%
1Y
-40.5%
Narrative Update • Jul 06

REL: AI Data Moat And Workflow Integration Will Support Future Upside

Analysts have trimmed their fair value estimate for RELX to about £47 from roughly £52, reflecting a slightly higher discount rate, while also highlighting resilient revenue growth expectations, stable profit margins and growing confidence in the company’s AI products following recent Street research. Analyst Commentary Recent Street research on RELX points to a split in opinion, but bullish analysts are leaning into the idea that the company is being miscategorized as an AI risk rather than an AI beneficiary.
RR.
UK£14.36
Rolls-Royce Holdings
7D
-2.6%
1Y
47.3%
RIO
UK£66.75
Rio Tinto Group
7D
-5.7%
1Y
50.1%
Narrative Update • Jul 02

RIO: Copper Projects And Logistics Savings Will Support Future Upside

The analyst price target for Rio Tinto Group is updated modestly higher to reflect a fair value move from £91.63 to £93.88, as analysts factor in slightly stronger revenue growth assumptions, a higher profit margin profile and a lower projected future P/E multiple, while also weighing mixed rating actions and valuation concerns across recent research. Analyst Commentary Recent research on Rio Tinto Group shows a mix of views, but several bullish analysts have lifted their price targets, pointing to what they see as supportive sector conditions and solid project execution.
STAN
UK£21.05
Standard Chartered
7D
0.7%
1Y
63.6%
Narrative Update • Jul 02

STAN: Fair Value Thesis Will Test Upgrades Against Indonesia Exposure And Execution

The analyst price target for Standard Chartered has been revised higher to £21.71 from £21.08, reflecting updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E as analysts factor in a series of recent upgrades and target increases across the Street. Analyst Commentary Recent Street research on Standard Chartered points to a cluster of target price upgrades and rating changes.
BATS
UK£44.97
British American Tobacco
7D
-3.0%
1Y
21.3%
III
UK£26.58
3i Group
7D
2.8%
1Y
-36.8%