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U.K. (FTSE) Market Analysis & Valuation

UpdatedJul 17, 2026
DataAggregated Company Financials
Companies1083
  • 7D1.1%
  • 3M-1.3%
  • 1Y17.3%
  • YTD6.0%

Over the last 7 days, the market has risen 1.1%, driven by gains of 1.6% in the Financials sector. In the last year, the market has climbed 17%. 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
Fri, 17 Jul 2026UK£3.0tUK£2.0tUK£164.4b15.7x18x1.5x
Sun, 14 Jun 2026UK£3.0tUK£2.0tUK£164.5b15.9x18x1.5x
Tue, 12 May 2026UK£2.9tUK£2.0tUK£161.1b16x18.1x1.5x
Thu, 09 Apr 2026UK£3.0tUK£2.0tUK£157.6b15.4x19x1.5x
Sat, 07 Mar 2026UK£2.9tUK£2.0tUK£153.9b16.3x18.9x1.5x
Mon, 02 Feb 2026UK£2.9tUK£1.9tUK£137.7b16.9x21.3x1.5x
Wed, 31 Dec 2025UK£2.8tUK£2.0tUK£138.0b16.3x20.6x1.5x
Fri, 28 Nov 2025UK£2.8tUK£2.0tUK£139.4b16.4x20x1.4x
Sun, 26 Oct 2025UK£2.8tUK£1.9tUK£135.7b16.7x20.4x1.4x
Tue, 23 Sep 2025UK£2.7tUK£1.9tUK£135.8b16.5x19.6x1.4x
Thu, 21 Aug 2025UK£2.7tUK£1.9tUK£134.4b16x20x1.4x
Sat, 19 Jul 2025UK£2.5tUK£1.9tUK£127.4b16x19.9x1.3x
Mon, 16 Jun 2025UK£2.5tUK£1.9tUK£127.3b16.1x19.7x1.3x
Wed, 14 May 2025UK£2.5tUK£2.0tUK£130.8b16.3x18.8x1.3x
Fri, 11 Apr 2025UK£2.3tUK£2.0tUK£136.4b14.5x16.5x1.1x
Sun, 09 Mar 2025UK£2.5tUK£2.0tUK£137.5b15.5x18.1x1.2x
Tue, 04 Feb 2025UK£2.5tUK£2.0tUK£123.8b15.8x20.3x1.2x
Thu, 02 Jan 2025UK£2.4tUK£2.0tUK£122.7b15.9x19.6x1.2x
Sat, 30 Nov 2024UK£2.4tUK£2.0tUK£122.8b16.2x19.9x1.2x
Mon, 28 Oct 2024UK£2.4tUK£2.0tUK£123.6b16.2x19.7x1.2x
Wed, 25 Sep 2024UK£2.4tUK£2.0tUK£117.5b16.7x20.7x1.2x
Fri, 23 Aug 2024UK£2.4tUK£2.0tUK£120.2b17x20.3x1.2x
Sun, 21 Jul 2024UK£2.4tUK£2.0tUK£129.3b16.7x18.6x1.2x
Tue, 18 Jun 2024UK£2.4tUK£2.1tUK£130.5b16.5x18.6x1.2x
Thu, 16 May 2024UK£2.5tUK£2.0tUK£127.2b16.9x19.8x1.2x
Sat, 13 Apr 2024UK£2.4tUK£2.1tUK£148.4b16x16.3x1.1x
Mon, 11 Mar 2024UK£2.3tUK£2.1tUK£144.3b15.8x16.2x1.1x
Wed, 07 Feb 2024UK£2.3tUK£2.1tUK£178.2b15x12.8x1.1x
Fri, 05 Jan 2024UK£2.3tUK£2.1tUK£193.8b15x12.1x1.1x
Sun, 03 Dec 2023UK£2.3tUK£2.1tUK£192.7b14.4x11.8x1.1x
Tue, 31 Oct 2023UK£2.2tUK£2.2tUK£188.8b13.4x11.7x1x
Thu, 28 Sep 2023UK£2.3tUK£2.2tUK£187.5b14.4x12.4x1.1x
Sat, 26 Aug 2023UK£2.3tUK£2.2tUK£184.0b14.4x12.3x1.1x
Mon, 24 Jul 2023UK£2.4tUK£2.2tUK£206.7b14.1x11.6x1.1x
Price to Earnings Ratio

11.6x


Total Market Cap: UK£2.4tTotal Earnings: UK£206.7bTotal 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 7.3% 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 Market1.12%
Telecom7.44%
Energy3.89%
Consumer Discretionary2.07%
Consumer Staples1.95%
Real Estate1.82%
Financials1.64%
Tech1.24%
Industrials0.68%
Utilities-0.16%
Materials-0.43%
Healthcare-2.95%
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 6.9% 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£31.603.9%
+UK£6.6b		21.1%PE12.7xEnergy
HSBA HSBC HoldingsUK£14.942.6%
+UK£6.4b		60.2%PB1.8xFinancials
BP. BPUK£5.105.9%
+UK£4.4b		28.4%PE33.1xEnergy
VOD Vodafone GroupUK£1.1618.9%
+UK£4.3b		41.8%PS0.8xTelecom
BARC BarclaysUK£5.253.5%
+UK£2.4b		49.4%PB0.9xFinancials
See more

Market Insights

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Latest News

BARC
UK£5.25
Barclays
7D
3.5%
1Y
49.4%
SHEL
UK£31.60
Shell
7D
3.9%
1Y
21.1%
AZN
UK£126.28
AstraZeneca
7D
-5.4%
1Y
22.5%
ANTO
UK£35.88
Antofagasta
7D
-3.4%
1Y
97.0%
DGE
UK£15.80
Diageo
7D
4.9%
1Y
-17.4%
Narrative Update • Jul 15

DGE: Premiumisation And Earnings Resilience Will Support Future Share Recovery Potential

For Diageo, the analyst price target has been raised modestly to £25.15 from £24.27, with analysts citing adjusted assumptions for revenue growth, margins, and forward P/E multiples as key drivers of the change. Analyst Commentary Recent valuation work on Diageo has been shaped by updated assumptions around revenue, margins, and the P/E multiple.
BP.
UK£5.10
BP
7D
5.9%
1Y
28.4%
AAL
UK£34.85
Anglo American
7D
-2.6%
1Y
58.6%
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£24.55
Fresnillo
7D
-7.1%
1Y
68.2%
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.
VOD
UK£1.16
Vodafone Group
7D
18.9%
1Y
41.8%
RR.
UK£13.78
Rolls-Royce Holdings
7D
-4.0%
1Y
36.5%
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£14.94
HSBC Holdings
7D
2.6%
1Y
60.2%
ULVR
UK£46.31
Unilever
7D
1.7%
1Y
-7.1%
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.
STJ
UK£11.10
St. James's Place
7D
-12.1%
1Y
-7.1%
Narrative Update • Jul 07

STJ: Supportive Research Coverage Will Drive Future Upside From Current Levels

The analyst fair value estimate for St. James's Place has been raised modestly to £16.99 from £16.41, reflecting updated views from analysts who cite recent price target revisions and supportive research coverage as key drivers of this change. Analyst Commentary Recent Street research on St. James's Place shows a mix of optimism around long term potential and caution around near term execution, with a series of price target revisions and fresh coverage feeding into the updated fair value estimate.
IAG
UK£4.49
International Consolidated Airlines Group
7D
-3.7%
1Y
16.9%
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.
REL
UK£25.02
RELX
7D
5.3%
1Y
-37.3%
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.
NG.
UK£12.17
National Grid
7D
-1.1%
1Y
15.9%