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U.K. (FTSE) Market Analysis & Valuation

UpdatedSep 16, 2026
DataAggregated Company Financials
Companies1063
  • 7D-1.8%
  • 3M1.2%
  • 1Y16.0%
  • YTD7.0%

Over the last 7 days, the market has dropped 1.8%, driven by declines in the Materials and Financials sectors of 8.7% and 3.4%, respectively. On the other hand, the Energy has risen by 3.9%. As for the longer term, the market has actually risen by 16% in the last year. As for the next few years, earnings are expected to grow by 11% per annum.

Trending IndustriesOil and GasGoldBiotechSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 16 Sep 2026UK£3.0tUK£2.2tUK£173.8b15.7x17.3x1.4x
Fri, 14 Aug 2026UK£3.0tUK£2.1tUK£173.9b16.1x17.5x1.4x
Sun, 12 Jul 2026UK£2.9tUK£2.0tUK£164.4b15.6x17.9x1.5x
Tue, 09 Jun 2026UK£2.9tUK£2.0tUK£165.1b15.9x17.7x1.4x
Thu, 07 May 2026UK£3.0tUK£2.0tUK£160.3b16.1x18.4x1.5x
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
Price to Earnings Ratio

12.6x


Total Market Cap: UK£2.4tTotal Earnings: UK£186.6bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 18.1x202420252026
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 18.1x.
Past Earnings Growth
  • The earnings for British listed companies have declined 2.3% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the U.K. Market?

GB Market-1.76%
Energy3.88%
Healthcare1.95%
Telecom0.78%
Consumer Staples0.23%
Consumer Discretionary-1.17%
Industrials-1.92%
Utilities-2.28%
Tech-3.14%
Real Estate-3.20%
Financials-3.45%
Materials-8.72%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 50.4x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.8% which is higher than its past year's earnings decline of 2.0% 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 10.5x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 22% over the next 5 years.
  • This is better than its past earnings growth rate of 4.0% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 2.2% 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£36.534.3%
+UK£8.6b		38.5%PE10.9xEnergy
BP. BPUK£5.805.5%
+UK£4.7b		37.6%PE22.3xEnergy
AZN AstraZenecaUK£121.162.0%
+UK£3.7b		6.8%PE24.2xHealthcare
BATS British American TobaccoUK£42.233.5%
+UK£3.1b		3.2%PE14.4xConsumer Staples
GSK GSKUK£18.543.2%
+UK£2.3b		26.7%PE15.4xHealthcare
See more

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Latest News

BA.
UK£20.06
BAE Systems
7D
3.2%
1Y
0.5%
GSK
UK£18.54
GSK
7D
3.2%
1Y
26.7%
AZN
UK£121.16
AstraZeneca
7D
2.0%
1Y
6.8%
HSBA
UK£15.04
HSBC Holdings
7D
-4.5%
1Y
50.1%
SHEL
UK£36.53
Shell
7D
4.3%
1Y
38.5%
RIO
UK£71.47
Rio Tinto Group
7D
-7.6%
1Y
53.7%
BARC
UK£4.70
Barclays
7D
-5.6%
1Y
25.5%
BP.
UK£5.80
BP
7D
5.5%
1Y
37.6%
Narrative Update • Sep 10

BP.: Future Returns Will Reflect Upstream Refocus And Measured Balance Sheet Repair

Analysts have lifted the BP price target by £0.13 per share, reflecting recent target increases across the Street as they factor in updated commodity assumptions, a higher future P/E profile, and mixed views on revenue growth and margins. Analyst Commentary Street research on BP over the past months has been mixed, with price targets and ratings shifting as analysts react to company updates, commodity assumptions, and changes in capital allocation.
CPG
US$31.39
Compass Group
7D
2.8%
1Y
-10.4%
Narrative Update • Sep 10

CPG: Fair Value View Will Balance Data Center Contract Opportunities

Analysts have nudged their fair value estimate for Compass Group higher from $32.00 to about $33.07, citing updated models that reflect recent positive views on earnings potential linked to U.S. data center related hospitality contracts and reaffirmed upbeat price targets near $40. Analyst Commentary Recent research on Compass Group highlights a mix of optimism around U.S. data center related hospitality contracts and more reserved signals on valuation and execution risk.
GLEN
UK£5.76
Glencore
7D
-8.4%
1Y
85.5%
AAL
UK£38.63
Anglo American
7D
-10.3%
1Y
50.0%
Narrative Update • Sep 09

AAL: Copper Shift And Anglo Teck Deal Will Drive Future Rerating

Analysts have lifted the Anglo American fair value estimate from £48.30 to £52.01, citing higher price targets from several firms that point to copper focused growth plans and a shift in earnings drivers as key factors behind the reassessment. Analyst Commentary Recent Street research on Anglo American highlights a split view, with some firms turning more positive on the company and others turning more cautious after the share price move.
VOD
UK£1.31
Vodafone Group
7D
2.3%
1Y
51.8%
Narrative Update • Sep 04

VOD: Fair Value View Weighs German Strain And UK Repair Potential

Analysts have lifted their price targets for Vodafone Group toward a range of about £1.10 to £1.55 per share, citing improving return on invested capital trends and gradual progress on market repair as key supports for the higher fair value estimate. Analyst Commentary Recent research on Vodafone Group shows a split between more optimistic and more cautious voices.
BATS
UK£42.23
British American Tobacco
7D
3.5%
1Y
3.2%
RR.
UK£14.20
Rolls-Royce Holdings
7D
-4.1%
1Y
25.6%
Narrative Update • Sep 04

RR.: Defence-Focused Engine Contracts Will Support Measured Re Rating Potential

Analysts have raised the Rolls-Royce Holdings fair value estimate from £16.27 to £17.18, citing updated Street price targets between about £16.47 and £20.00, as well as assumptions for slightly higher revenue growth, improved profit margins and a modestly higher future P/E multiple. Analyst Commentary Recent Street research on Rolls-Royce Holdings points to a cluster of higher price targets and generally constructive views on execution and earnings power.
LSEG
UK£82.00
London Stock Exchange Group
7D
-5.9%
1Y
-4.2%
Narrative Update • Sep 03

LSEG: Improving Data Ownership Will Support Future Upside Potential

Analysts have trimmed their fair value estimate for London Stock Exchange Group to about £118 from about £121. This reflects a slightly higher discount rate, more cautious assumptions on revenue growth and profit margins, and a higher future P/E multiple in the context of a recent downgrade to Neutral at a £104 price target.
ANTO
UK£35.01
Antofagasta
7D
-14.2%
1Y
53.3%
Narrative Update • Aug 19

ANTO: Copper Output Resilience And 2028 Free Cash Flow Timing Will Shape Returns

Antofagasta's analyst fair value has been trimmed from £38.80 to £37.87 as analysts factor in slightly lower revenue growth expectations, a modestly higher discount rate, and updated Street price targets that have recently shifted both up and down between roughly £33.40 and £44.00 per share. Analyst Commentary Recent Street research on Antofagasta shows a wide spread of views on both valuation and execution.