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U.K. (FTSE) Market Analysis & Valuation

UpdatedApr 03, 2026
DataAggregated Company Financials
Companies1084
  • 7D4.4%
  • 3M4.3%
  • 1Y22.6%
  • YTD4.3%

The market is up 4.4% over the last week, with the Financials sector leading the way, up 5.4%. As for the past 12 months, the market is up 23%. 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
Sat, 04 Apr 2026UK£2.9tUK£2.0tUK£158.6b15.1x18.5x1.5x
Mon, 02 Mar 2026UK£3.1tUK£2.0tUK£151.4b17x20.5x1.6x
Wed, 28 Jan 2026UK£2.9tUK£1.9tUK£136.4b16.9x21.5x1.5x
Fri, 26 Dec 2025UK£2.8tUK£2.0tUK£138.7b16.1x20.4x1.4x
Sun, 23 Nov 2025UK£2.7tUK£2.0tUK£139.0b16x19.7x1.4x
Tue, 21 Oct 2025UK£2.7tUK£1.9tUK£135.5b16.5x20x1.4x
Thu, 18 Sep 2025UK£2.7tUK£1.9tUK£135.2b16.3x19.7x1.4x
Sat, 16 Aug 2025UK£2.7tUK£1.9tUK£133.8b15.7x19.8x1.4x
Mon, 14 Jul 2025UK£2.5tUK£1.9tUK£127.3b16.1x19.8x1.3x
Wed, 11 Jun 2025UK£2.5tUK£1.9tUK£127.5b16.4x19.7x1.3x
Fri, 09 May 2025UK£2.4tUK£2.0tUK£130.8b16x18.6x1.2x
Sun, 06 Apr 2025UK£2.3tUK£2.0tUK£136.6b14.5x16.8x1.1x
Tue, 04 Mar 2025UK£2.5tUK£2.0tUK£138.5b15.7x18.3x1.3x
Thu, 30 Jan 2025UK£2.5tUK£2.1tUK£123.6b16.1x20.2x1.2x
Sat, 28 Dec 2024UK£2.4tUK£2.0tUK£122.6b15.9x19.5x1.2x
Mon, 25 Nov 2024UK£2.4tUK£2.1tUK£124.0b16.4x19.6x1.2x
Wed, 23 Oct 2024UK£2.4tUK£2.0tUK£119.0b16.3x20.3x1.2x
Fri, 20 Sep 2024UK£2.4tUK£2.0tUK£118.2b16.9x20.7x1.2x
Sun, 18 Aug 2024UK£2.4tUK£2.0tUK£121.8b16.8x20.1x1.2x
Tue, 16 Jul 2024UK£2.4tUK£2.0tUK£130.0b16.9x18.6x1.2x
Thu, 13 Jun 2024UK£2.4tUK£2.0tUK£129.6b16.4x18.7x1.2x
Sat, 11 May 2024UK£2.5tUK£2.1tUK£136.5b16.9x18.4x1.2x
Mon, 08 Apr 2024UK£2.4tUK£2.1tUK£146.0b16x16.4x1.1x
Wed, 06 Mar 2024UK£2.3tUK£2.0tUK£142.0b15.4x16.2x1.1x
Fri, 02 Feb 2024UK£2.3tUK£2.1tUK£182.6b14.8x12.6x1.1x
Sun, 31 Dec 2023UK£2.3tUK£2.1tUK£193.5b15.1x12.1x1.1x
Tue, 28 Nov 2023UK£2.3tUK£2.1tUK£193.6b14.3x11.7x1.1x
Thu, 26 Oct 2023UK£2.3tUK£2.2tUK£187.6b13.4x12.1x1x
Sat, 23 Sep 2023UK£2.4tUK£2.2tUK£186.6b14.5x12.6x1.1x
Mon, 21 Aug 2023UK£2.2tUK£2.1tUK£184.1b14.2x12.2x1x
Wed, 19 Jul 2023UK£2.3tUK£2.2tUK£205.2b13.8x11.4x1.1x
Fri, 16 Jun 2023UK£2.4tUK£2.2tUK£208.1b14.4x11.4x1.1x
Sun, 14 May 2023UK£2.4tUK£2.2tUK£211.7b14.4x11.5x1.1x
Tue, 11 Apr 2023UK£2.4tUK£2.2tUK£179.9b13.8x13.5x1.1x
Price to Earnings Ratio

13.5x


Total Market Cap: UK£2.4tTotal Earnings: UK£179.9bTotal 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 17.2x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 4.2% per year over the last three years.
  • Revenues have also declined 2.4% 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 Market4.54%
Utilities7.53%
Materials6.81%
Industrials6.08%
Financials5.98%
Healthcare5.69%
Tech5.22%
Consumer Discretionary4.30%
Real Estate3.97%
Telecom3.91%
Energy1.56%
Consumer Staples-0.56%
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 16.9%, which is higher than its past year's earnings growth of 7.8% 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£153.1610.7%
+UK£23.0b		34.4%PE30.7xHealthcare
HSBA HSBC HoldingsUK£12.736.3%
+UK£12.9b		58.2%PB1.5xFinancials
RIO Rio Tinto GroupUK£71.0210.5%
+UK£10.9b		58.1%PE15.3xMaterials
BA. BAE SystemsUK£22.899.4%
+UK£5.8b		41.3%PE33.2xIndustrials
NG. National GridUK£13.237.0%
+UK£4.3b		25.6%PE22.9xUtilities
See more

Market Insights

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Latest News

RSW
UK£36.05
Renishaw
7D
-5.1%
1Y
49.3%
BA.
UK£22.89
BAE Systems
7D
9.4%
1Y
41.3%
ULVR
UK£41.73
Unilever
7D
-7.0%
1Y
-22.5%

ULVR: Planned Foods Separation And Margin Focus Are Expected To Support Upside

Unilever's analyst price target has been trimmed by £0.85, as analysts factor in slightly softer revenue growth, a modestly lower profit margin and a reduced future P/E assumption following recent research updates and downgrades to more neutral ratings. Analyst Commentary Recent research on Unilever has shifted toward more neutral stances, with several firms moving ratings to Hold or Neutral and moderating price targets.
AZN
UK£153.16
AstraZeneca
7D
10.7%
1Y
34.4%
GSK
UK£21.44
GSK
7D
4.7%
1Y
46.3%
SHEL
UK£35.44
Shell
7D
2.0%
1Y
32.8%

SHEL: Future Returns Will Reflect LNG Disruptions And Middle East Supply Risks

Shell's updated analyst price target has moved higher to £34.65 from £32.62, as analysts factor in revised oil and gas price assumptions, tighter projected crude balances linked to Middle East supply risks, and a slightly higher future P/E multiple, offset in part by more modest profit margin expectations. Analyst Commentary Recent research on Shell shows a mix of optimism and caution, with several firms adjusting price targets in response to commodity assumptions, geopolitical risks and company specific execution.
HBR
UK£2.87
Harbour Energy
7D
-4.5%
1Y
47.0%
HSBA
UK£12.73
HSBC Holdings
7D
6.3%
1Y
58.2%

HSBA: Future Returns Will Hinge On Cost Discipline And Execution Quality

Analysts have raised their price targets on HSBC Holdings, reflecting a higher internal fair value estimate of £13.53 from £13.17, supported by updated assumptions for revenue growth, profit margins and future P/E, as well as recent target increases from several major banks. Analyst Commentary Recent research updates on HSBC Holdings show a cluster of higher price targets from major banks, giving you a clearer picture of how the market is thinking about the shares on valuation, execution and growth potential.
BKG
UK£31.68
Berkeley Group Holdings
7D
-8.1%
1Y
-13.6%
IMI
UK£26.04
IMI
7D
-2.1%
1Y
43.9%
RIO
UK£71.02
Rio Tinto Group
7D
10.5%
1Y
58.1%

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£26.87
3i Group
7D
16.9%
1Y
-27.7%
TW.
UK£0.85
Taylor Wimpey
7D
-4.0%
1Y
-22.2%
BTRW
UK£2.60
Barratt Redrow
7D
-3.2%
1Y
-38.9%
NG.
UK£13.23
National Grid
7D
7.0%
1Y
25.6%

NG.: Execution On Regulated Projects Will Shape Future Earnings Resilience And P/E Framework

Analysts have lifted their price target for National Grid to £13.53 from £13.14, citing slightly higher assumptions for revenue growth, profit margins and future P/E expectations. Analyst Commentary Bullish Takeaways Bullish analysts see the higher price target of £13.53 as better aligned with their updated assumptions for revenue and margin potential, which they view as more supportive of the current P/E framework.
GAW
UK£176.50
Games Workshop Group
7D
-3.1%
1Y
28.7%