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U.K. (FTSE) Market Analysis & Valuation

UpdatedJul 19, 2026
DataAggregated Company Financials
Companies1083
  • 7D1.0%
  • 3M-0.5%
  • 1Y17.2%
  • YTD6.2%

Over the last 7 days, the market has risen 1.0%, driven by gains of 5.9% in the Energy sector. The market is up 17% over the last 12 months. As for the next few years, earnings are expected to grow by 11% per annum.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 19 Jul 2026UK£3.0tUK£2.0tUK£164.6b15.8x18.1x1.5x
Tue, 16 Jun 2026UK£2.9tUK£2.0tUK£164.6b16x17.9x1.5x
Thu, 14 May 2026UK£2.9tUK£2.0tUK£164.8b16x17.8x1.5x
Sat, 11 Apr 2026UK£3.0tUK£2.0tUK£157.3b15.7x19x1.5x
Mon, 09 Mar 2026UK£2.9tUK£2.0tUK£154.0b16.3x18.9x1.5x
Wed, 04 Feb 2026UK£3.0tUK£1.9tUK£137.7b17x21.5x1.5x
Fri, 02 Jan 2026UK£2.8tUK£2.0tUK£138.0b16.3x20.6x1.5x
Sun, 30 Nov 2025UK£2.8tUK£2.0tUK£139.6b16.3x20x1.4x
Tue, 28 Oct 2025UK£2.8tUK£1.9tUK£135.6b16.7x20.5x1.4x
Thu, 25 Sep 2025UK£2.7tUK£1.9tUK£136.0b16.5x19.7x1.4x
Sat, 23 Aug 2025UK£2.7tUK£1.9tUK£134.0b16.1x20.2x1.4x
Mon, 21 Jul 2025UK£2.5tUK£1.9tUK£127.4b16x19.9x1.3x
Wed, 18 Jun 2025UK£2.5tUK£1.9tUK£127.7b16.1x19.6x1.3x
Fri, 16 May 2025UK£2.5tUK£2.0tUK£132.6b16.4x18.6x1.3x
Sun, 13 Apr 2025UK£2.3tUK£2.0tUK£135.7b14.7x16.7x1.1x
Tue, 11 Mar 2025UK£2.5tUK£2.0tUK£137.7b15.2x17.9x1.2x
Thu, 06 Feb 2025UK£2.5tUK£2.0tUK£122.9b16x20.2x1.2x
Sat, 04 Jan 2025UK£2.4tUK£2.1tUK£123.5b15.9x19.6x1.2x
Mon, 02 Dec 2024UK£2.4tUK£2.0tUK£122.5b16.3x19.9x1.2x
Wed, 30 Oct 2024UK£2.4tUK£2.0tUK£120.4b16x20.1x1.2x
Fri, 27 Sep 2024UK£2.4tUK£2.0tUK£117.5b17x20.8x1.2x
Sun, 25 Aug 2024UK£2.5tUK£2.0tUK£119.5b16.9x20.5x1.2x
Tue, 23 Jul 2024UK£2.4tUK£2.0tUK£129.3b16.8x18.7x1.2x
Thu, 20 Jun 2024UK£2.4tUK£2.0tUK£131.7b16.6x18.4x1.2x
Sat, 18 May 2024UK£2.5tUK£2.1tUK£127.7b16.9x19.7x1.2x
Mon, 15 Apr 2024UK£2.4tUK£2.1tUK£148.4b16x16.3x1.1x
Wed, 13 Mar 2024UK£2.3tUK£2.1tUK£144.5b16x16.2x1.1x
Fri, 09 Feb 2024UK£2.3tUK£2.0tUK£144.0b15.2x15.7x1.1x
Sun, 07 Jan 2024UK£2.3tUK£2.1tUK£193.5b15x12.1x1.1x
Tue, 05 Dec 2023UK£2.3tUK£2.1tUK£193.3b14.5x11.8x1.1x
Thu, 02 Nov 2023UK£2.2tUK£2.2tUK£194.9b13.5x11.3x1x
Sat, 30 Sep 2023UK£2.3tUK£2.2tUK£185.5b14.5x12.6x1.1x
Mon, 28 Aug 2023UK£2.3tUK£2.2tUK£183.8b14.5x12.3x1.1x
Wed, 26 Jul 2023UK£2.4tUK£2.2tUK£206.2b14.2x11.6x1.1x
Price to Earnings Ratio

11.6x


Total Market Cap: UK£2.4tTotal Earnings: UK£206.2bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17.8x202420252026
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 17.8x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 7.2% per year over the last three years.
  • Revenues have also declined 2.3% 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 Market1.03%
Energy5.90%
Telecom3.60%
Consumer Staples2.81%
Utilities2.52%
Real Estate2.48%
Consumer Discretionary0.98%
Financials0.47%
Industrials0.15%
Tech0.053%
Healthcare-1.25%
Materials-2.03%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 51.5x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.2%, which is higher than its past year's earnings growth of 7.7% 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 10.3x.
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 decline of 1.2% 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
SHEL ShellUK£32.366.5%
+UK£10.8b		23.5%PE12.9xEnergy
BP. BPUK£5.177.1%
+UK£5.3b		29.3%PE33.5xEnergy
BATS British American TobaccoUK£46.694.6%
+UK£4.5b		22.5%PE13.1xConsumer Staples
HSBA HSBC HoldingsUK£14.921.4%
+UK£3.6b		59.9%PB1.7xFinancials
VOD Vodafone GroupUK£1.187.0%
+UK£1.8b		43.5%PS0.8xTelecom
See more

Market Insights

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Latest News

SHEL
UK£32.36
Shell
7D
6.5%
1Y
23.5%
ROR
UK£4.86
Rotork
7D
63.9%
1Y
48.5%
Narrative Update • Jul 17

ROR: Future Upside Will Depend On Closing The ABB Takeover

Rotork's updated analyst price target edges higher from £3.90 to £4.11. This reflects a slightly lower discount rate, broadly steady revenue growth and margin assumptions, and a modestly higher future P/E multiple, even as several firms have recently shifted their ratings to Hold with a £5.03 target.
GSK
UK£19.17
GSK
7D
-2.3%
1Y
42.2%
BP.
UK£5.17
BP
7D
7.1%
1Y
29.3%
AZN
UK£125.94
AstraZeneca
7D
-1.9%
1Y
22.3%
Narrative Update • Jul 16

AZN: Trial Setbacks And Oncology Deals Will Shape Medium Term Credibility

AstraZeneca's updated analyst price targets show a modest reset lower, with recent research pointing to greater uncertainty around medium term revenue catalysts and mixed trial outcomes, even as some analysts continue to highlight areas of support within the broader pipeline and existing portfolio. Analyst Commentary Recent research on AstraZeneca highlights a mix of caution and support, with several firms revisiting their models after the CARDIO TTRansform outcome and reassessing how much risk investors are taking on around the medium term growth story.
VOD
UK£1.18
Vodafone Group
7D
7.0%
1Y
43.5%
Narrative Update • Jul 16

VOD: Safaricom Stake And Execution Reset May Support Future Re Rating

The updated analyst price target for Vodafone Group has increased to £1.48 from £1.43, with analysts citing revised fair value assumptions around revenue growth, profit margins and future P/E as they reassess the balance of recent rating changes and price targets across the Street. Analyst Commentary Street research on Vodafone Group has been mixed, with several firms revising ratings and price targets as they reassess the company’s execution across core markets such as Germany and the UK.
ANTO
UK£34.91
Antofagasta
7D
-7.6%
1Y
86.8%
AAL
UK£34.00
Anglo American
7D
-6.1%
1Y
52.3%
Narrative Update • Jul 15

AAL: Copper Shift And Chile Projects Will Drive Future Rerating

Analysts have nudged the fair value estimate for Anglo American slightly lower to around £48 from about £50, even as external price targets have been raised into the £33.50 to £45.00 range. They cite a mix of higher assumed revenue growth, modestly softer profit margins, and ongoing cost and freight risks in key iron ore markets, balanced against stronger copper driven expectations.
FRES
UK£24.42
Fresnillo
7D
-7.4%
1Y
69.0%
Narrative Update • Jul 14

FRES: Production Slippage And Execution Risks Will Pressure Future Returns

The analyst price target for Fresnillo has been revised lower by £4.55 to £20.86, with analysts citing updated fair value assumptions and valuation multiples as the key drivers of the change. Analyst Commentary on Fresnillo Recent Street research on Fresnillo points to a more cautious tone, with several bearish analysts trimming their price targets and highlighting risks around valuation assumptions and the company’s ability to execute against expectations.
RR.
UK£13.66
Rolls-Royce Holdings
7D
-5.1%
1Y
35.9%
Narrative Update • Jul 09

RR.: Defence Upside And Buybacks Will Shape Balanced Future Re Rating Potential

The updated analyst price target for Rolls-Royce Holdings has increased by about £0.54 per share. Analysts cite refreshed fair value assumptions, along with expectations for revenue growth and future P/E, as key drivers of this change.
HSBA
UK£14.92
HSBC Holdings
7D
1.4%
1Y
59.9%
ULVR
UK£46.73
Unilever
7D
1.6%
1Y
-6.4%
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.
IAG
UK£4.44
International Consolidated Airlines Group
7D
-5.6%
1Y
16.8%
Narrative Update • Jul 07

IAG: Dividend Restart And Updated Earnings Assumptions Will Shape Future Returns

The analyst price target for International Consolidated Airlines Group has been raised by approximately £0.23. Analysts point to updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E, alongside recent target increases from several brokers, as the main drivers of the change.
NG.
UK£12.57
National Grid
7D
2.5%
1Y
18.6%
BATS
UK£46.69
British American Tobacco
7D
4.6%
1Y
22.5%
III
UK£25.76
3i Group
7D
-4.7%
1Y
-40.6%