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U.K. (FTSE) Market Analysis & Valuation

UpdatedApr 24, 2026
DataAggregated Company Financials
Companies1081
  • 7D-1.0%
  • 3M2.5%
  • 1Y24.4%
  • YTD5.3%

In the last week, the market has been flat, with a notable exception in the Industrials sector dropping 3.0%. Meanwhile, the market is actually up 24% over the past year. Earnings are forecast to grow by 13% annually.

Trending IndustriesOil and GasGoldBiotechSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 24 Apr 2026UK£3.0tUK£2.0tUK£157.6b16.1x18.8x1.5x
Sun, 22 Mar 2026UK£2.8tUK£2.0tUK£156.7b14.8x17.8x1.4x
Tue, 17 Feb 2026UK£3.0tUK£1.9tUK£145.7b16.6x20.6x1.5x
Thu, 15 Jan 2026UK£2.9tUK£2.0tUK£137.9b16.6x21.1x1.5x
Sat, 13 Dec 2025UK£2.8tUK£2.0tUK£138.3b15.9x20x1.4x
Mon, 10 Nov 2025UK£2.8tUK£2.0tUK£138.1b16.1x20.1x1.4x
Wed, 08 Oct 2025UK£2.7tUK£1.9tUK£135.5b16.7x20.2x1.4x
Fri, 05 Sep 2025UK£2.7tUK£2.0tUK£135.8b16.2x19.6x1.4x
Sun, 03 Aug 2025UK£2.6tUK£2.0tUK£134.5b16.3x19.5x1.3x
Tue, 01 Jul 2025UK£2.5tUK£1.9tUK£126.6b16.4x19.6x1.3x
Thu, 29 May 2025UK£2.5tUK£1.9tUK£125.7b16.4x19.7x1.3x
Sat, 26 Apr 2025UK£2.4tUK£2.0tUK£134.9b15.3x17.7x1.2x
Mon, 24 Mar 2025UK£2.5tUK£2.0tUK£136.4b15.7x18.1x1.2x
Wed, 19 Feb 2025UK£2.5tUK£2.0tUK£139.1b16.5x18.2x1.3x
Fri, 17 Jan 2025UK£2.5tUK£2.1tUK£124.5b15.8x19.7x1.2x
Sun, 15 Dec 2024UK£2.4tUK£2.0tUK£122.5b16.3x19.9x1.2x
Tue, 12 Nov 2024UK£2.4tUK£2.0tUK£118.4b16.3x20.2x1.2x
Thu, 10 Oct 2024UK£2.4tUK£2.0tUK£118.8b16.5x20.3x1.2x
Sat, 07 Sep 2024UK£2.4tUK£2.0tUK£119.2b16.7x20.2x1.2x
Mon, 05 Aug 2024UK£2.4tUK£2.0tUK£124.8b16.7x19.3x1.2x
Wed, 03 Jul 2024UK£2.4tUK£2.0tUK£131.8b16.3x18.3x1.2x
Fri, 31 May 2024UK£2.5tUK£2.0tUK£129.4b17.3x19x1.2x
Sun, 28 Apr 2024UK£2.4tUK£2.1tUK£143.0b16x16.9x1.2x
Tue, 26 Mar 2024UK£2.4tUK£2.1tUK£147.5b16.1x16.4x1.2x
Thu, 22 Feb 2024UK£2.3tUK£2.1tUK£150.5b15.4x15.3x1.1x
Sat, 20 Jan 2024UK£2.3tUK£2.1tUK£193.6b14.6x11.7x1.1x
Mon, 18 Dec 2023UK£2.3tUK£2.1tUK£193.7b15.1x11.9x1.1x
Wed, 15 Nov 2023UK£2.2tUK£2.1tUK£193.3b14.2x11.6x1.1x
Fri, 13 Oct 2023UK£2.3tUK£2.2tUK£186.7b13.9x12.5x1.1x
Sun, 10 Sep 2023UK£2.3tUK£2.2tUK£185.6b14.5x12.4x1.1x
Tue, 08 Aug 2023UK£2.3tUK£2.2tUK£189.1b14.5x12.4x1.1x
Thu, 06 Jul 2023UK£2.3tUK£2.2tUK£208.1b14.1x11.1x1.1x
Sat, 03 Jun 2023UK£2.4tUK£2.2tUK£211.9b14.3x11.2x1.1x
Mon, 01 May 2023UK£2.5tUK£2.2tUK£179.2b14.5x13.8x1.1x
Price to Earnings Ratio

13.8x


Total Market Cap: UK£2.5tTotal Earnings: UK£179.2bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17.3x202420252026
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 17.3x.
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 2.5% 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-0.97%
Tech1.02%
Materials0.83%
Consumer Discretionary0.69%
Telecom0.089%
Utilities0.06%
Real Estate-0.29%
Consumer Staples-0.45%
Financials-0.77%
Energy-1.63%
Healthcare-2.26%
Industrials-3.01%
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 53.1x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 16.6%, which is higher than its past year's earnings growth of 7.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 47% over the next 5 years.
  • This is better than its past earnings growth rate of 5.1% per year.
  • In contrast, the Consumer Staples sector is expected to see its earnings grow by 6.7% 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
CPG Compass GroupUS$29.798.7%
+US$4.1b		-10.2%PE27.1xConsumer Discretionary
AAL Anglo AmericanUK£37.774.9%
+UK£1.9b		54.4%PS2.9xMaterials
LSEG London Stock Exchange GroupUK£98.123.2%
+UK£1.4b		-14.6%PE38.8xFinancials
KAP National Atomic Company Kazatomprom JSCUS$91.207.7%
+US$1.7b		172.2%PE18.9xEnergy
BATS British American TobaccoUK£42.061.3%
+UK£1.1b		32.4%PE11.9xConsumer Staples
See more

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Latest News

AZN
UK£144.92
AstraZeneca
7D
-2.5%
1Y
38.8%
RIO
UK£74.24
Rio Tinto Group
7D
0.7%
1Y
60.9%
GSK
UK£20.76
GSK
7D
-2.2%
1Y
48.9%
BA.
UK£20.80
BAE Systems
7D
-6.2%
1Y
23.9%
BP.
UK£5.70
BP
7D
-2.3%
1Y
57.5%
KAP
US$91.20
National Atomic Company Kazatomprom JSC
7D
7.7%
1Y
172.2%

KAP: Long Term Uranium Contract Will Support Stronger Future Outlook

Analysts have lifted their price target for National Atomic Company Kazatomprom JSC to $105.23 from $101.59, citing updated forecasts that keep the discount rate at 8.23% while adjusting revenue growth expectations to 19.51%, profit margins to 32.53%, and the future P/E to 16.16. What's in the News Shareholders are scheduled to vote on April 6, 2026 on a major transaction involving a long term contract for the sale and purchase of natural uranium concentrates with the Directorate of Purchase & Stores of the Department of Atomic Energy of the Government of India, with the potential asset value exceeding 50% of Kazatomprom's total book assets at the approval date (Key Developments).
BATS
UK£42.06
British American Tobacco
7D
1.3%
1Y
32.4%

BATS: Future Returns Will Reflect Dividend Dependability And Strengthened Leadership Outlook

Analysts have nudged their price target for British American Tobacco up slightly to £46.21 from £45.85, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What's in the News British American Tobacco appointed Dragos Constantinescu as Chief Financial Officer, effective 1 September 2026, with Javed Iqbal to continue as Interim CFO until then and thereafter remain Director, Digital & Information (company announcement).
SHEL
UK£32.94
Shell
7D
-2.7%
1Y
35.3%

SHEL: Future Returns Will Reflect Middle East Supply Risk Premiums

Shell’s analyst fair value estimate has been revised higher from £34.65 to £37.17, as analysts factor in updated commodity price assumptions, refined revenue growth expectations, and slightly higher margin and P/E inputs following a mix of recent target hikes and downgrades across the Street. Analyst Commentary Recent research on Shell has been active, with several firms revising price targets and a mix of upgrades and downgrades.
AAL
UK£37.77
Anglo American
7D
4.9%
1Y
54.4%

AAL: Teck Merger And Commodity Risks Will Shape Balanced Future Profile

The analyst fair value estimate for Anglo American edges up to £35.09 from £35.05 as analysts weigh slightly higher assumed revenue growth and a modestly higher discount rate against a small trim to projected profit margins and future P/E, informed by a mix of recent target cuts and upgrades following the Teck merger progress and shifting sector risk views. Analyst Commentary Recent Street research around Anglo American is mixed, with several price target changes, rating shifts and comments on the proposed Teck merger feeding into the updated fair value estimate.
AAF
UK£3.65
Airtel Africa
7D
4.3%
1Y
121.6%
CPG
US$29.79
Compass Group
7D
8.7%
1Y
-10.2%
NWG
UK£5.85
NatWest Group
7D
-5.1%
1Y
24.7%

NWG: Evelyn Acquisition And Buybacks Will Support Future Share Upside

NatWest Group's updated analyst price target has inched higher to £7.32 from £7.31. This reflects a blend of recent target increases from several banks and more cautious expectations from others, as analysts factor in slightly different views on revenue growth, profitability and valuation multiples.
LSEG
UK£98.12
London Stock Exchange Group
7D
3.2%
1Y
-14.6%

LSEG: Activist Buybacks And AI Partnerships Will Support Future Upside Potential

Narrative update The analyst price target for London Stock Exchange Group has been raised by £1.00. Analysts point to updated assumptions for revenue growth, profit margins and future P/E as key drivers for the change.
RR.
UK£11.60
Rolls-Royce Holdings
7D
-7.2%
1Y
57.8%
ANTO
UK£38.31
Antofagasta
7D
1.6%
1Y
126.7%

ANTO: Copper Price Strength Will Support Medium Term Earnings Power

Antofagasta's analyst price target has been revised slightly lower to reflect a modest trim in fair value to £46.99 from £47.82, as analysts balance recent target increases and upgrades with more cautious moves around discount rates, profit margins and future P/E assumptions. Analyst Commentary Recent Street research on Antofagasta shows a mix of raised and trimmed price targets, alongside both upgrades and downgrades.
LLOY
UK£0.99
Lloyds Banking Group
7D
-3.9%
1Y
36.1%

LLOY: Buyback And Dividend Policy Will Support A More Attractive Return Profile

Analysts have lifted their price target for Lloyds Banking Group by around £0.02, reflecting small adjustments to fair value estimates, discount rate assumptions, revenue growth expectations, and a lower future P/E multiple in their models. What's in the News The Board of Lloyds Banking Group has authorized a share buyback plan, allowing the company to repurchase its own shares as part of a capital management program, subject to regulatory approval (Key Developments).